Southwest Airlines’ Companion Pass may be the best benefit in travel. Other airlines have companion passes that allow someone with a paid fare to add a companion to that flight for free. Southwest’s Companion Pass is even better because it allows the holder to add a companion to an unlimited number of flights for free […]
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Avoiding $500 per day penalties and 2 years imprisonment, Part II
This is an update to our post from late last year: How to avoid $500 per day penalties and 2 years imprisonment. The Financial Crimes and Enforcement Network (FinCEN), as promised, has opened up their online portal to allow companies and their beneficial owners to file Beneficial Ownership Information (BOI) reports as required by the […]
How to avoid $500 per day penalties and 2 years imprisonment
You may have heard that the Corporate Transparency Act (CTA) has created the new Beneficial Ownership Information (BOI) reporting requirements that go into effect starting soon – January 1, 2024. While the law is intended to prevent financial crimes, it has the unfortunate result of placing more burden on small businesses. This law means more […]
Who’s going to win the Super Bowl? The Sports Books.
Sports betting really picks up this time of year as the public gets excited for the http://www.nytimes.com/2014/01/28/sports/football/in-las-vegas-putting-a-lot-on-the-line-for-the-super-bowl.html?ref=todayspaper&_r=0
The IRS can disallow deductions just because your business isn’t set up properly
How you set up your business entities can make a big difference in how much tax you pay. As with much in life, a little forethought now can save (or earn) lots of money in the future. A recent court case involving an attorney named David Morowitz drives that point home. Mr. Morowitz set up […]
Are You Required to Send 1099 or W-2 Forms?
Along with the arrival of the new year have come new deadlines for tax filings. What do you have to do about it? If your business paid a person or company at least $600 for services, rents, or other payments during 2018, then you may be required to provide that payee with a form 1099-MISC. […]
Making the Most of the New Tax Law
You may have heard that a new tax bill recently became law. While the law generally pertains to tax years beginning in 2018, there may be things you can do before the end of the year to maximize your deductions or credits because of the differences that will exist in the law between 2017 and […]
2014 Form 1099 and W-2 Reporting
The new year is here, and with the new year come new deadlines. If your business paid a person or company at least $600 for services, rents, or other payments during 2014, then you may be required to provide that recipient with a form 1099. Information reported on 1099 forms is also required to be […]
Should I Set Up an S-Corporation?
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 S-corporations. Look here to […]
Should My Company Be an LLC?
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 limited liability companies. Look […]