The rise of home-based businesses represents a fundamental shift in the way Americans work. Home businesses offer their owners a convenient and flexible way to earn income without commuting to a traditional office. They may…
Understanding the Trust Fund Recovery Penalty: What Every Business Owner Should Know
Navigating the complexities of tax obligations is an essential responsibility for business owners, particularly those operating as S-Corporations. There is a trend beginning to emerge among some business owners of converting to an S-Corp to…
Gifts That Keep Giving: Tax Considerations for Business Gift-Giving
As the holiday season approaches, gift-giving is on the minds of many business owners. But there are reasons why a business owner may want to give gifts to workers and clients throughout the year and…
Complying With Estimated Quarterly Taxes
Tax day is one of the most important—and one of the most dreaded—days on the calendar for working Americans. Although April 15 is usually the date that federal taxes are due, the Internal Revenue Service…
Filing Taxes When You Work or Reside in Multiple States
If you travel frequently for work, or work in a state different from where you live, you are likely to have a lot of questions come tax time. In which state should I pay taxes?…
How to Request an Extension for Filing Your Taxes
To file for an extension on your federal income taxes means that you are informing the Internal Revenue Service (IRS) that you will not be able to file your income tax return by the April…
IRS Transcripts: What Are They Are and Why Are They Important?
An IRS transcript is a record of your tax returns from previous years.[1] This summary or overview of your tax return information is available in five different types of reports. They include most line items…
What to Bring to Your First Meeting with Your Business Lawyer
Many Americans dream of leaving their nine-to-five job to start their own business—and in recent years, more people than ever have been doing it. A record number of new business applications were filed in 2023,…
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…
Life Insurance and Estate Planning: A Winning Combo!
At The Law Office of Jason Carr, we understand the critical role that life insurance plays in comprehensive estate planning. Life insurance not only provides financial security for your loved ones but also offers important…