Business Startup Solutions

Why Your Business Shouldn't Be a C Corporation

Why Your Business Shouldn't Be a C Corporation With 2018 tax reform, we have received more and more questions- why shouldn’t I switch to a Corporation?  In most cases the answer is simple – it’s not many situations where double taxation is advantageous. C Corp basics C Corps have many

A Whole New Ballgame: Tax Reform Effects on Individuals and Businesses

A Whole New Ballgame: Tax Reform Effects on Individuals and Businesses Click Here to download a pdf version of this 2018 Tax Reform Guide! For most taxpayers, the sweeping changes to federal tax laws enacted by Congress at the end of 2017 will be most apparent when it comes time to report 2018 i

Shutting Down a Business? File Your Final Taxes On Time and Avoid the Short Year Trap

Shutting Down a Business? File Your Final Taxes On Time and Avoid the Short Year Trap. Filing a late partnership or S corporation tax return has gotten increasingly expensive over the last 10 years. In 2006, the penalty per month, per partner/shareholder was $50. For 2018 that penalty is $195 per m

The Self Employed Vicious Tax Cycle

The Self Employed Vicious Tax Cycle Let us lay out a scenario. You are a self employed individual. You are meeting with your tax accountant to complete your taxes by April 15 and are told that you owe a bundle in taxes for the year. In addition to the thousands you owe (that is due by April 15), yo

Tax Extenders Passed!

Tax Extenders Passed! We are excited about the most recent bill the President has signed. All parties have finally agreed and the President has signed the Protecting Americans from Tax Hikes Act of 2015, also known as the PATH Act. The Act not only extends numerous provisions, but also makes at lea