Different Business Setups The most common business structures include sole proprietorships, partnerships, C corporations and S corporations. Limited liability companies, known as LLCs, are also widely used and are created under state law. Every option comes with different legal...
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July 2023 Update – Family Businesses Must Beware of Fraud & Are Scholarships Taxable? Family businesses make up a huge percentage of companies in the United States and produce much of the country’s gross domestic product. Often defined as...
If you run a business, you know that you need to support expenses with detailed records. To be deductible, every expense on your tax return might have to be defended if your company is subject to an audit. Plus,...
What’s Your Taxpayer Filing Status? For many people, December 31 means a New Year’s Eve celebration. However, from a tax perspective, it’s a key date in determining the filing status you’ll use when filing your tax return for the...
Year-end Gifts And The Gift Tax Annual Exclusion With the holidays and year-end approaching, you might be considering making gifts of stock or cash to family members and other loved ones. By using your gift tax annual exclusion, those...
What’s Your Taxpayer Filing Status? For many people, December 31 means a New Year’s Eve celebration. However, from a tax perspective, it’s a key date in determining the filing status you’ll use when filing your tax return for the...