December 21, 2016 / by Larry Donahue / Business Tips, Taxes / 0 comments
If you’re reading this article, your answer to this question is probably “no.” The reason I know this, is because this law firm signed up almost 1,000 new clients in 2016, and of those approximately 1,000 new clients, we’ve only received 4 requests for a W9. 1099’s and W2’s are due January 31, 2017! 4 […]
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A S-Corporation May Help You Save a Lot in Taxes
December 6, 2018 / by Ian Alden / Business Tips, Corporations, Small Business, Taxes / 0 comments
If you’re familiar with the different types of businesses out there, you’ve probably heard something about S Corporations or “S-Corps”. Maybe a friend or colleague told you about some of their benefits, and maybe you’re even thinking about making one. Before you do, it’s important to understand why an S-Corp can be so beneficial to its […]
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From the Experts – Tax Documents
September 17, 2018 / by administrator / Taxes / 0 comments
Going into business for yourself is exciting, and being your own boss can be both rewarding and financially lucrative. However, there is more to going into business than hanging out a shingle. There are numerous legal documents required, including tax related documents. Establishing Your Business The structure of your business is one of the most […]
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Return of the C Corporation
August 27, 2018 / by Ian Alden / Corporations, LLC, Other Corporate Entities, Partnership, Taxes / 0 comments
If you’re starting a new business (or reorganizing an old one), you have a few options to choose from. For example, you could form a Limited Liability Company (or LLC). LLCs are often a great choice for startups because they’re easy to start, simple to administer, and you can choose how you want it to […]
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Internet Sales Tax and the Supreme Court: What You Need to Know
June 21, 2018 / by Ian Alden / Business Tips, Corporations, LLC, Marketing, Strategic Planning, Taxes / 0 comments
If you run a business large or small, it’s hard to ignore today’s headlines: Supreme Court rules states can force online retailers to collect sales tax (CNN), Supreme Court rules states can collect sales tax for online purchases nationwide (Fox News), Supreme Court rules states can require shoppers to pay online sales tax (MSNBC). In […]
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Business Entertainment and the TCJA
June 2, 2018 / by Jake Goldsmith / Taxes / 0 comments
Congress recently passed the Tax Cuts and Jobs Act (TCJA). Most people know that the TCJA was the biggest tax overhaul in about 40 years. Some provisions of the TCJA were very favorable to businesses and others were not. For small business owners, it is important to understand how the TCJA affects you and your […]
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Two Common Ways to Buy an Existing Business
April 30, 2018 / by Ian Alden / Commercial Transactions, Corporations, LLC, New Mexico, Taxes / 0 comments
In our previous piece (The Art of Buying and Selling a Business), we discussed some of the important issues you should consider when you want to sell or buy an existing business to maximize your value and minimize your risk. In this article, we consider the two most common ways one goes about buying a […]
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Gross Receipts Taxes in the Digital Age
March 15, 2018 / by Ian Alden / Business Tips, New Mexico, Taxes / 1 comment
In a previous article, we talked about New Mexico’s Gross Receipts Tax (or NM GRT). To summarize, New Mexico imposes a “sales tax” on the sale of services as well as goods. To briefly recap: Gross receipts are the total amount of money or value of other consideration received from: Selling property in New Mexico; […]
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How Do You Move a Company to Another State?
January 15, 2018 / by Larry Donahue / Business Tips, Corporations, LLC, Taxes / 0 comments
The analogy I like to use with clients, is that when you form a company in one state, it’s like having a child in that state. You can certainly bring that child to a new state, but that child’s birth certificate will always be of the state where he or she was born. A company […]
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President Trump’s Tax Plan: Time to Incorporate or Form a LLC?
April 29, 2017 / by Larry Donahue / Anonymous LLC, Business Tips, LLC, Taxes / 2 comments
This is not an endorsement for or against President Trump or his recently introduced 2017 Tax Proposal. We’ve been encouraging business owners to incorporate or form a limited liability company (LLC) for a long time. For example, way back in February 2011, I wrote a blog article entitled Not Incorporating is Risky Business. After six […]
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Are You Ready to Send Out 1099’s?
December 21, 2016 / by Larry Donahue / Business Tips, Taxes / 0 comments
If you’re reading this article, your answer to this question is probably “no.” The reason I know this, is because this law firm signed up almost 1,000 new clients in 2016, and of those approximately 1,000 new clients, we’ve only received 4 requests for a W9. 1099’s and W2’s are due January 31, 2017! 4 […]
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