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Taxes

Important Upcoming Compliance Deadlines for Your Business

By |2019-09-06T16:12:15-07:00September 6th, 2019|Business Planning, Counsel, Financial, Taxes|

Busy small business owners have many tasks on their plates: A significant one is staying on top of important tax and filing deadlines. These important dates may vary depending upon the business’ structure. Here are some of the most critical deadlines business owners may need to meet over the next few months. Federal tax [...]

What Small Business Owners Should Know About Business Credit

By |2019-08-06T17:04:52-07:00August 10th, 2019|Business Planning, Financial, Taxes|

For a small business to grow, it is often necessary to borrow money. The Small Business Administration reports that the inability to obtain funding is one of the main obstacles that prevents small businesses from expanding their operations. To increase your business’s chances of obtaining much-needed funding, it is important to understand and establish [...]

Can Your Small Business Write Off Bad Debts?

By |2019-08-06T16:46:19-07:00August 9th, 2019|Business Planning, Financial, Taxes|

Despite your best efforts to work only with customers or clients you believe will pay for the goods or services your business provides and to diligently collect delinquent amounts owed, you will almost inevitably have to deal with bad debts occasionally. Sometimes, the IRS allows you to take a bad debt deduction. What Is [...]

What is the Difference Between an LLC and an LLP?

By |2019-05-02T20:51:45-07:00May 2nd, 2019|Business Formation, Business Planning, Limited Liability Company (LLC), Taxes|

If you are starting a new business, the business entity you set up will affect the extent of personal liability, how the business is taxed, its management, the level of formality required, and many other factors. There are a lot of options, which can make this decision overwhelming. Limited liability companies (LLCs) and limited [...]

The Employee Handbook: The Holy Grail of Your Business

By |2019-03-05T19:29:27-08:00March 16th, 2019|Business Planning, Financial, Taxes|

Employee handbooks address the who, what, where, why, and how of your business operations.  Your employee handbook will protect you and your business by setting expectations and providing consistency for your employees when situations arise. What Information Should an EmployeeHandbook Include? Ideally, employee handbooks address anything significant related to your company, employees, operating policies, [...]

Making an S Corporation Election as a Married Business Owner

By |2019-03-05T12:42:59-08:00March 12th, 2019|Business Planning, Financial, Taxes|

If you’re a married business owner and you want your business to be taxed as an S corporation, there are several things you need to know. The difference between community property and co-ownership of an asset Let’s take the example of owning a car. If you and your spouse are both on the title [...]

Record Keeping for Your Business: What’s Required?

By |2019-02-20T20:59:39-08:00February 21st, 2019|Business Planning, Taxes|

Whether you are just starting up a new company or have a business that has been in operation for a while, good record keeping is an essential part of running your business. You are responsible for establishing an effective system to store and maintain your business records whether your small business is a sole [...]

I Need to Hire Someone for My Business; What Do I Need To Know?

By |2019-02-15T17:35:28-08:00February 16th, 2019|Business Planning, Financial, Taxes|

Most businesses try to grow – at least somewhat.  However, to grow or to step away from the business for a personal life, vacation, or other ventures, you’ll need help with day-to-day operations.  If you’ve never hired someone before - or it’s been a long time - don’t worry – here’s the information you [...]

Stay in Control: Good LLC Governance

By |2019-02-06T19:26:51-08:00February 9th, 2019|Business Formation, Taxes|

The LLC is a popular way to structure a business because it provides personal liability protection to the members-- like a corporation does to its shareholders--but without as many administrative formalities. But if you’re an LLC member, don’t let this lull you into complacency. As a business owner, you’re responsible for the proper governance [...]