Management
Starting an LLC? Read This First
GET IN TOUCH GET IN TOUCH Why form an LLC? For plenty of entrepreneurs who wish to start their own business, one of the first questions they ask themselves is: What form of business entity is best for their needs? With plenty of options to choose from, and with your decision impacting everything from how…
Read MoreExcess Business Loss Limitation and Net Operating Loss: Your 2022 Guide
If you’re a business owner, it’s possible that at some point during the year, you’ll have an excess business loss or net operating loss.
This article provides some answers to common questions about excess business loss limitations and Net Operating Loss so that you can make more informed decisions when preparing your taxes.
Read MoreCorporation Meeting Requirements: Your Essential Guide
Corporation meeting requirements are different depending on the type of corporation and the state in which you incorporated it; state law and the corporation’s own bylaws set the rules by which the corporation holds valid meetings, takes proper actions, and keeps appropriate records and documentation.
To discover more about general meeting requirements for all corporations and corporations with a single shareholder, two shareholders, or three or more shareholders, continue reading.
Read MoreEmployee or Independent Contractor? An Employer’s Guide
GET IN TOUCH GET IN TOUCH When you hire someone, it’s essential to understand the type of relationship you have with them. The most critical information you’ll need to know is classifying the workers you pay for services. This is not just a good idea for how you interact with the workers — it is also required…
Read MoreConsidering an S Corporation? Start Here.
GET IN TOUCH GET IN TOUCH Building a company? One of the first and most crucial decisions you will need to make concerns your business structure. This choice will impact almost every aspect of your endeavor, from day-to-day operations and management to legal factors such as shareholder liability and tax considerations such as whether or not…
Read More3 Business Management Tips That Will Reduce Your Stress
GET IN TOUCH GET IN TOUCH Are you feeling overwhelmed by the pressures of managing your business? You’re not alone. Business management is not easy, regardless of whether you’re an experienced owner or a new entrepreneur. In fact, in some ways, managing a small business can be just as challenging as running a Fortune 500…
Read MoreThe New Jersey Business Alternative Income Tax (NJ BAIT): What You Need to Know
GET IN TOUCH GET IN TOUCH The New Jersey Business Alternative Income Tax, or NJ BAIT, allows pass-through businesses to pay income taxes at the entity level instead of the personal level. This law, which took effect January 1st, 2020, mitigates the impact of the federal $10,000 state and local tax (SALT) deduction cap imposed…
Read MoreWhat Does New York State’s Pass-Through Entity Tax Mean ForYou?
GET IN TOUCH GET IN TOUCH New York recently passed the Pass-Through Entity Tax, which allows some business owners to pay tax at the business level. If you own a business, this may enable you to avoid the $10,000 limit on state and local tax deduction on Form 1040, Schedule A, that was imposed by…
Read MoreTaking Money Out of Your Business: What Owners Need to Know
GET IN TOUCH GET IN TOUCH Building and growing a successful business is hard work. It can take years before you begin to see a profit. As your success increases, however, you will want to withdraw money from the company. That is, after all, the idea. There are many common reasons business owners choose to…
Read More9 Questions to Clarify Whether You Operate a Business or Hobby
GET IN TOUCH GET IN TOUCH You’re making some income selling your handmade jewelry… Your cover band keeps booking paid gigs… People are hiring you to photograph weddings or refinish antique furniture… Are your business activities a hobby or a business? There is a difference at tax time, and you want to ensure you present…
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