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With the unemployment rate seemingly rising everyday many are being “forced” into entrepreneurship. Most business owners would agree that business ownership is not for everyone.
When starting a business there’s always a great deal of uncertainty that goes along with selecting the right entity type. A business owner is unsure of whether or not they should be a sole proprietor, incorporate or form an LLC.
12 Common Bookkeeping Mistakes to Avoid 1. Commingling funds - So many business owners are guilty of either using the business account to pay for personal expenses or paying business expenses through the personal account. This is a big NO NO! 2. Misclassifying workers - Times are tough and staffs ...
SECRET TAX TIP #6 Avoid Extra Tax With A Wise Business Purchasing Plan! Avoid the dreaded Alternative Minimum Tax by postponing purchases of depreciable assets or leasing rather than purchasing depreciable assets in years when you have high income and itemized deductions. The alternative minimum tax is calculated by adding to your alternative minimum tax base any ...