Yes, this is my first blog post since January – I am embarrassed. Tax season, then life (read: kids out of school for the summer) did a phenomenal job of derailing the best of intentions to start blogging more regularly. This is going to be the first in what I hope will be at least […]
If I had a dollar for every time someone said to me, “I need to set up an LLC. I am making too much money and need to save on taxes,” I would have much more money than you would save in taxes by creating an LLC. If you are an individual running a business
In the world of business, your bottom line is not always about your sales volume. Sure, as the accounting formula goes, sales less expenses equals profit, so it should be simple, increase sales, and profits increase. It unfortunately isn’t always just that easy, and can be much more about controlling costs. Lower costs also equal
I recently had the honor of writing an article for City View Magazine’s inaugural issue of “Fayetteville’s Finest: Who’s Who in Fayetteville.” You can check out my article, “An Accountant for Business and Personal Needs,” on page 32, along side many other helpful articles right here.
One of the benefits of forming an S-corporation is that rather than being subject to employment (FICA) taxes on all of your business’s earnings, you are only subject to employment taxes on the salary you pay yourself. You may think to yourself, “Well, great! I will form an S-corporation and pay myself a salary of
One of the more frequent questions I receive from clients is, “What kind of records do I need to keep?” Some keep no records at all, some keep every last shred of paper that has passed their desk in the last 10 years. What’s the correct answer? Well, as with most guidance given by the
If you are like me and you run a very small business on a virtually non-existent budget, then you likely also have a home office. The home office is not just an object of convenience; it is oftentimes now your company’s ONLY office. While you are likely not paying yourself rent for this space, you
While most that are starting a new business are anxious to just open their doors and get going, many start without knowing the first thing about the legal requirements or how to actually operate a business. Luckily, there are some great FREE resources to help you make sure you have all your bases covered. My personal
Probably the most common question I get from people is “What kind of business entity should I set up?” The answer is that business entities are not one-size-fits-all and the best entity for you depends on your unique situation. The major business entities choices are: Sole proprietorship Limited Liability Company or LLC Partnership Corporation Sole
A few weeks back I wrote a guest blog post for bumbledoo, our AWESOME green baby store here in Fayetteville. It covers the top five business deductions for work-at-home-moms, but this list is relevant for really any self-employed individual who works out of their home. Go check out my post here!
