business startup

S Corp Election Deadline Is Approaching So Don’t Delay – Business Article

If your business is an LLC or C Corporation—or if you are an accountant, attorney, tax advisor, business consultant, etc. who helps entrepreneurs—realize that the S Corp election deadline is fast approaching on March 15, 2019. So if you want to be taxed as an S Corp for the 2019 tax year, now is the time to act.  What is an S Corporation? First things first, let’s step through what an S Corp is and its potential small business advantages.…

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Have Employees? Then You Need to Understand Employment Taxes – Business Article

Hiring employees can make a world of difference when it comes to eliminating your stress and streamlining operations and understanding employment taxes. But, it also launches you into a new world filled with tax regulations and withholding obligations. Mastering employment taxes can trip up many business owners, but failing to do so correctly can land you in hot water. Find out which taxes you must withhold, contribute, and pay when you have employees at your business. What are employment taxes?…

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Statutory Conversion vs. Business Domestication: The Difference – Business Article

Quite often, my team at CorpNet fields a lot of calls and emails from business owners that want to make changes to their companies via business filings specifically wanting to file for a statutory conversion. Some changes are rather simple and straightforward, while others are more significant and substantial. Two of the more involved type of changes some clients request are “statutory conversion” and “business domestication.” And sometimes, people confuse the two. So, I thought it would be helpful to…

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Three Tips for Business Coaches to Help Their Clients Succeed in 2019 – Business Article

You may never attain the tips for business coaches or the legendary status of business guru, coach, and best-selling author Brian Tracy. A more attainable, yet vitally important goal, is to become the best business coach possible for your clients. Business owners turn to you for advice on how to grow their companies. Naturally, the more information and guidance you can offer them, the more loyal they’ll become. How can you offer more value to your clients and expand the…

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Business Startup Deductions to Take in 2018 – Business Article

Did you start a business this year? If you started a business in 2018, any startup expenses you incurred for planning, researching, or outfitting your office may be eligible to be claimed as a business startup deduction to take in 2018 and claim it on your 2018 return. Let’s begin with determining your start date. Just because you’ve filed incorporation papers (such as articles of incorporation or articles of organization) and have been issued a Federal Tax ID number or Employer…

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