Identity Theft – Tax Related
If your identity has been compromised with the Internal Revenue Service (IRS), you will find out in one of two ways. The first is that your e-filing of your personal…
Tax Problem Resolution – Tax Debt
OK, you owe the IRS or the state or both. You haven’t filed a tax return or two or more. Threatening letters are starting to come in. Perhaps you have…
Saving for College
This is a tough one. Between paying for daycare, your own retirement account - how are you expected to save for college? The government doesn't make it easy. There are two…
Name Only Partnership? You May Have a Problem…
For my nerds, today's topic is Nwabasili Tax Court Memo 2016-220. USTaxCourt Link Do you have a business with someone and don't file a partnership tax return? Perhaps you and your…
Traveling for Charity?
Are you going on a mission trip? Do you deliver meals on wheels? Here are some tips when you want to deduct charity related travel costs. Qualified Charities. For a…
Choosing Your Small Business Legal Structure
One important consideration when starting your business is determining the best legal organizational structure. Why? Because it will affect operating efficiency, transferability, control, the way you report income, the taxes…
Operating and Controlling Your Business
Now that you have your business type established, how should you operate it? Various entities have different requirements. Below is a brief explanation. SOLE PROPRIETORSHIP Controlled by one person All…
The Legal End of Your Business
I have been asked several times “When does my business end?” It depends on the structure.. SOLE PROPRIETORSHIP Continues until abandoned or upon death of the owner Assets and liabilities…
Finding Money to Start Your Business (Part 1 of 3)
Part 1 Forecast of revenue, expenses and operating capital requirements It’s no secret that you will need capital — money — to launch your new business. In fact, many entrepreneurs…