A sole proprietorship is the simplest business structure. It involves relatively little paperwork or legal filings when you first get started and doesn’t require a whole lot of upkeep with regard to paperwork on an ongoing basis. However, it is important to understand the risks that come with filing as a sole proprietorship, chief among them being that your business will not be distinguishable from you in any legal manner. This means your own personal assets are at risk if you face liability issues stemming from business activities. Understanding this risk, then, when is it a good idea to establish... View Article
This has been a turbulent financial year for individuals and businesses alike, thanks to the havoc wrought by the spread of the COVID-19 pandemic. As we approach the end of the year, it is more important than ever for businesses to focus on their tax planning. The tax strategies you employ could make a difference in your company’s viability moving forward and could help to get you on the right financial path heading into the new year. With this in mind, here are a few 2020 year-end tax planning tips for you to take into account for your company in... View Article
So, you’re considering starting your own business. You’ve got the idea or the product. You’ve got the motivation. You’re two steps ahead of the game. Now, all you need is the right paperwork to make it all legal. That means figuring out how you’d like to structure your business. For those people who need some assistance with business structure planning in Union City, NJ, we’ve got you covered. The choices When you’ve being thinking about the kind of entity you’d like your business to be, you’ll have a small variety of options: Sole proprietorship: For those people who love complete... View Article
Whether you’re the head of a multinational conglomerate or of a family of four, your finances are critical to your wellbeing. That’s why even the most upright Americans can break out into a cold sweat around tax time. You might think that it’s too early to begin choosing a tax preparer in Union City, NJ, but that’s simply not true. If you want to start saving big on your annual or quarterly taxes, you should enlist the help of a talented tax pro or accountant. With so many options at your fingertips, it can be tricky to determine which financial... View Article
Believe it or not, there are some people who still, all these months later, have not received their first stimulus check. While lawmakers continue to mull over the possibility of a second stimulus check, there are plenty of Americans still waiting on their first payment and wondering what action they need to take to get that money into their bank accounts. The IRS sent out checks, direct deposit payments and prepaid debit cards to the vast majority of adults who qualified for the first stimulus payment this spring. If you did not receive yours yet, there could be a problem... View Article
