Becoming a business owner is no easy task. It takes time, dedication, money, and more. Chances are, you’ll probably make a few mistakes along the way. But if you follow a few business tips for beginners, you can avoid making common startup mistakes and set yourself up for success.
Read More Key Insights and Practical Business Tips for Beginners
Thinking about starting a business but worried about how busy you’ll be? Or, have you already started a business and are wondering how many hours you should be clocking in? Either way, knowing how much other business owners work may be helpful. So, how many hours do business owners work?
Read More How Many Hours Do Business Owners Work? According to Studies, It’s a Lot
The first time filing taxes for small business owners can be overwhelming. Make your first time filing business taxes run smoothly by understanding your liabilities.
Read More First Time Filing Taxes for Small Business
You might have considered incorporating your small business. Do you know how to form a C Corp? Forming a C Corp takes more time and money than other types of business structures. But, you are free from personal liability.
Read More How to Form a C Corp
When you set up your business, you choose from several types of business structures. The structure you operate under affects your tax liabilities, so selecting the right one for your business is crucial. Forming an S Corp is one business entity option. Knowing how to form an S corporation helps you decide how you will […]
Read More How to Form an S Corp
Business structure affects many aspects of your company, including your tax obligations. Choosing the right structure for your business could mean the difference between expensive, time-consuming taxes or affordable, simplified tax liabilities. As a small business owner, you must know how business structure affects taxes.
Read More Business Entity Tax Basics: How Business Structure Affects Taxes
Choosing a business structure is a big deal. The way you structure your business affects how much you pay in taxes, your personal liability for business losses, how you pay yourself from your business, and more. Sole proprietorships, partnerships, corporations (S Corp and C Corp), and LLCs (single-member and multi-member LLCs) are business structure types.
Read More What Is the Difference Between S Corp and C Corp?
New businesses typically incur expenses before the business is up and running. You might need to research your market, hire a consultant, travel to potential suppliers, or open a facility. These are startup costs. When you incur startup costs, you must accurately record the corresponding ledger entries in your accounting books. And, you must properly […]
Read More Accounting for Startup Costs (Plus How to Handle Taxes)
If you run a nonprofit organization, you work hard to give back to others. The government offers the opportunity for organizations like yours to gain tax exemption. However, applying for tax-exempt status can be a long and complicated process. Before starting the tax-exempt status application, find out what tax exemption means for your organization, determine […]
Read More Does Your Organization Qualify for Tax-exempt Status?
When you think of nonprofits with tax-exempt status, your mind might go straight to charitable or religious organizations. However, these types of groups aren’t your only options for becoming a tax-exempt nonprofit. If you own a social welfare organization, you can apply for 501(c)(4) status with the IRS.
Read More 501(c)(4) Social Welfare Organizations: How Much Do You Know?