When does my business start paying taxes?

When does my business start paying taxes?

The Short Answer   “When does my business start paying taxes?” is a question I hear a lot. But the short answer is that your business probably won’t start paying federal income tax anytime soon.  Wait, what!?! Well, there’s a reason for this, and it’s because most businesses are considered pass-through, or flow-through, entities.   […]

Self-Employed Beginner’s Tax Guide

Self Employed Beginner's Tax Guide

Deciding to go it alone and become self-employed can be a rewarding experience, but it can also be very overwhelming, especially when dealing with taxes. “Where do I start?” is usually the first question people ask on their self-employed journey. That’s where we’re going to begin with this Self-Employed Beginner’s Tax Guide.   Employee vs. […]

Tax Write Offs – Should I buy something at year-end?

Should you buy something at year end to get a tax write off?

The question of buying something just to get a tax write off seems to come up quite often. It’s a valid question. Should I spend money now to get a tax write off, or should I wait? Unfortunately, the answer definitely depends on several different factors. So, you need to ask yourself several questions in […]

Making an S Corp Election – Timing

Making an S Corp Election - Timing

Whenever you decide on making an S election, the timing is pretty important. There are some very specific rules about when you actually have to file your S corp election so you need to have knowledge of the filing requirements in order to make a plan. To learn more about whether or not you should […]

Should I form an S Corp?

Should I form an S Corp?

Forming an S Corp has become an extremely hot topic in today’s financial world. In a lot of ways, forming an S Corp can be a great business decision, but there can be some disadvantages that need to be considered.   What is an S Corp?   When I talk about forming an S Corp, […]