Deciding on an entity structure for your business starts with understanding that there is never one perfect choice. The right organizational form is the one that aligns best with your personal goals and business objectives. To determine how each structure will impact...
Starting a business doesn’t require perfection, but it does require a solid foundation. Getting the basics in place early sets you up to operate cleanly, protect yourself, and focus on real client work. If you’re not sure where to start, here’s a practical...
If you’re a landlord or thinking of investing in real estate, you’ve probably heard that forming an LLC (Limited Liability Company) is a smart move. But is it necessary? Not always. Here’s what you need to consider before making the decision. Benefits of forming an...
Confusion around the tax treatment of short-term and long-term rentals is a common challenge facing real estate investors, owners of vacation property, and even homeowners looking to add monthly cash flow by renting out space in their primary residence. In this...
As a small business owner in the wedding industry, you’ve probably heard about S-Corporations (S-Corps) as a way to lower taxes and protect your personal assets. But is an S-Corp the right choice for your wedding planning, photography, floral, or catering...
Whether it’s your first time starting a business or you’re an old pro, making sure you dot your i’s and cross your t’s keeps your new venture in compliance from day one. While this checklist won’t cover every single item on your administrative to-do list, it’s a great...
If you have been operating as a sole proprietorship or a general partnership, you may benefit from incorporating your business as an S corporation (S corp). Along with having your business treated as a pass-through entity by the IRS, thereby avoiding double taxation,...
Avoiding an IRS Audit Making a mistake with reasonable compensation is one of the fastest ways a business owner can be flagged for an audit. Avoid being targeted by the IRS by paying yourself a “reasonable” amount. What is Reasonable Compensation and How do I...
