Every small business starts out with high hopes for future success. Along the way, however, there will be numerous challenges. And if your business has two or more owners, there will be times when the owners have serious disagreements. There may also be instances when one (or more) of the owners needs to sell their […]
Does Your Small Business Need a Buy-Sell Agreement Read More »
When starting a small business, it is important to carefully consider which type of entity you want to operate under. There are several options; including sole proprietorships, partnerships, limited liability companies (LLCs) and corporations. If you decide to go with a corporation, it can be set up as a C-Corporation or S-Corporation. C-Corps and S-Corps
S-Corp vs. C-Corp: Which Entity is Right for My Business? Read More »
One of the fastest growing trends in today’s digital and mobile age is the home-based business. With electronic communications and the increased use of tablets and smartphones, the opportunities for serving the public online or in the comfort of their own home are nearly endless. There are numerous industries today in which an entrepreneur can
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In today’s mobile and digital age, more small businesses are being started than ever before. The Internet has made possible countless businesses a person can operate from home or with a small office and with very little overhead. The challenge for entrepreneurs is keeping on top of all the tasks necessary to keep the business
5 Tasks Small Businesses Should Consider Outsourcing Read More »
Section 179 of the Internal Revenue Code (IRC) is one of the few tax breaks specifically geared toward small and medium-sized businesses regarding business equipment deduction. Under Section 179, a business can write off the purchase of equipment, vehicles, off-the-shelf software, and other qualifying property (up to the maximum allowed) during the tax year in
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There is a growing trend among businesses today toward hiring independent contractors rather than employees to perform certain tasks. For certain specialized areas that require greater expertise, hiring a contractor may make sense. However, there are some drawbacks to this option as well. Here are some of the advantages of hiring independent contractors for your
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For business startups, entity formation is one of the most critical decisions. It is important to choose the right entity so your company can accomplish its goals and minimize tax liability. For many small businesses, the decision often comes down to a limited liability company (LLC) vs a Subchapter S Corporation (S-Corp). The main differences
Should I Form an LLC or Subchapter S Corporation? Read More »
Today’s business climate is more competitive than ever. And with the relatively slow economic recovery, small and medium size businesses are finding it more challenging than ever to survive. A recent poll by Gallup found that there are now more small businesses closing than opening for the first time in 35 years. In addition, the
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The Federal Trade Commission (FTC) has recently implemented a “Red Flags” rule on certain businesses in an effort to curb the growing problem of identity theft. Financial institutions of all sizes are required to comply with this rule, as well as other businesses that regularly pull credit reports and grant credit to their customers. Essentially,
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A growing number of Americans are victimized by identity theft each year. With the increase of online financial activity, cyber thieves are stealing millions of dollars annually with the threat continuing to grow at an alarming rate. To help fight identity theft, the Federal Trade Commission (FTC) recently implemented the Red Flags Rule. What is
Is Your Business Subject to the FTC Red Flags Rule? Read More »
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