Small business owners will have one more item on their compliance to-do list when the Corporate Transparency Act (CTA) takes effect next year. The CTA,[1] enacted as part of the Anti-Money Laundering Act of 2020…
Why Did The IRS Take My Refund?
Even though we are in the midst of the coronavirus pandemic, and the tax filing deadline has been pushed back, millions of Americans who are required to file their tax returns will get a surprise…
3 Reasons to Resolve Your IRS Tax Debt Now
Do you owe money to the IRS? If you do, you’re not alone. The Internal Revenue Service (IRS) found that more than 14 million Americans owed over $131 billion in back taxes, penalties, and interest…
The 4 Best Ways to Get a Tax Levy Lifted
There are several ways the IRS can issue tax levies on your property (i.e. wages, bank/retirement accounts, etc.). The question is- how do you get it lifted? Thankfully, there are different options available so that…
Should I Buy a Franchise?
When starting a business, entrepreneurs typically have two options: they can either build a new business or purchase an existing business. Buying an existing business can offer the advantages of name recognition and a proven…
How to End Your LLC
When you started your limited liability company (LLC), the last thing you probably had on your mind was ending it. Many LLCs are created for specific purposes, however, and when that purpose has been served,…
What You Need to Know about Articles of Organization
The limited liability company (LLC) is a popular entity structure among small business owners that provides governance and taxation flexibility and shields personal assets from business liabilities. To enjoy the benefits and legal protections of…
The Sole Proprietorship: Pros and Cons
Transitioning from being an employee to being self-employed is a goal of many American workers, and a growing number of workers have realized their goal in the wake of pandemic-related economic disruptions. Individuals often cite…
Financing a Business: Evaluating Your Options
Financing is the lifeblood of a business. During good times, business financing can help entrepreneurs purchase assets, expand products and services, add a new location, and hire more staff. During more difficult times, business owners…
Most Common Tax Deductions for Small Businesses
There are many expenses incurred in starting, running, and growing a business. Luckily for business owners, many of these expenses can be deducted. Knowing which expenses you can deduct helps to lower your tax burden…