Is your activity a hobby or business? Do you want to write off expenses from your hobby? Do you want to turn your hobby into a business? Tax-wise, it can be beneficial to turn your hobby into a business because you can write off losses and expenses. The IRS has a checklist for determining the…
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Improving accuracy in Excel spreadsheets over time becomes difficult as formulas tend to get longer and less accurate. Often times when we use Excel formulas, we do them as a one-time thing to solve the immediate need. You may copy and paste that same formula somewhere else and the inaccuracies continue. This quick tip for…
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A popular type of corporation is the S-Corporation business entity type. Legally, there is no difference between a C-Corporation and an S-Corporation. However, for tax purposes, the two are very different. An S-Corporation business entity is just a corporation that has made an “S-election” for tax purposes. S-Corporations can be a popular entity choice for…
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Historically the C-Corporation business entity is one of the most commonly used entity types. If you or someone you know own a company that has been around more than 30 years, chances are it’s a C-Corporation. The past 25 years or so have given rise to several new types of entities (such as LLCs and…
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What is an LLC company type? The acronym stands for Limited Liability Company. The LLC combines the tax advantages of a partnership with the liability protection advantages of a corporation. The LLC company type has become an extremely popular entity choice for new businesses since its creation in the 1990s. Advantages of an LLC company type All…
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Does your company need outsourced CFO services? Do you need a chief financial officer but can’t afford to hire one full time? Or does it simply need someone to help see it through a special project or temporarily replace an executive who has fallen ill or left the organization? An outsourced CFO may be the…
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