When you start a new business, you are confronted with a choice – what type of business entity to employ? The most common business entities among small businesses are sole proprietorships, limited liability companies, and S-corporations. Which one is right for you? This post will summarize the pros and cons of sole proprietorships. Here’s one […]
To Deduct or Not To Deduct?
A common question we hear from entrepreneurs and small business owners goes as follows: What can I claim as business deductions? The reason for this question is simple – generally speaking, the more that can be claimed as business expenses, the lower the net income of the business, and the lower the resultant income (and […]
Death and Taxes
Benjamin Franklin wrote in a letter in 1789: Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes. Even Mr. Franklin may not have predicted that in future years, not only would death and taxes be certain, […]