Explore the distinctions between C-Corporations and S-Corporations and how they can impact your business taxes.
Owing taxes can be financially painful which often leads to physical and relationship problems and more. Tax delinquency can cause feelings of embarrassment and make others lose respect they had for you. Whether you are an individual who may not be affected as emotionally as others when dealing with tax issues, working with a professional who cares about your overall well-being is critical when you’re seeking a resolution to your tax problems. Unfortunately, there are too many “professionals” who are waiting to take advantage of your bad tax situation when you’re not focused. This article will share some concepts that you should be aware of when seeking out a tax professional to help you resolve your tax issues.
New laws have been enacted since the publishing of this article. The COVID-19 Pandemic during 2020 has affected many small businesses. To aid businesses and individuals who had been financially impacted, Congress created the Cares Act. The Paycheck Protection Program (PPP Loan) was one of the business loans that could be obtained. We will provide an overview of this loan and then discuss the tax impacts it is now having on small businesses.
Entrepreneurs are always seeking to find new & different ways to grow not only their company, but also their personal development. We’ve summed up the 10 best tips that I’ve used in my 20+ years of being an entrepreneur who wears many hats. These 10 tips vary from budgeting, to expanding, personal recharge, and many more to give you a well-rounded list of actions that you can take to enhance your small business & personal development as an entrepreneur.
Would you like to know if there's anything more you can do to stretch the money you have coming in these days? Well this article is for you. We've thought of six actions you can take to make sure you're getting the most out of every dollar you're working for.
Budgeting is a method for gaining better control over the money coming in and going out of your business (cash inflows/cash outflows). While most look at budgeting as a daunting task, it should be an exciting step towards wealth creation. Below are a few quick tips on what you should keep in mind when building a budget (or creating wealth) for your business and ultimately yourself:
Owing the IRS can be a very daunting experience that causes many individuals to run and hide from IRS notices that demand payment. However, as with most things in life, you cannot hide forever and typically the time comes when you may be faced with having to deal with a levy on your paycheck or bank account. A levy is a legal seizure of your property to satisfy a tax debt. Having an IRS levy released requires your immediate and full attention to resolve the matter quickly and before a loss of needed income to pay our bills, etc results.
Taking the new year into consideration, we thought it would be a good idea to suggest a few small business goals that can make a difference in the growth your business experiences this year.
Getting ready to file your tax return? One way to make sure this process goes as smoothly as possible is to make sure you have all the documents necessary to prepare your return. Getting your paperwork organized helps you avoid delays when filing your return, and also ensures your return is complete and accurate when prepared. Below is a list of the top three documents that will hold up the preparation and filing of your tax return:
Whether you need help finding a tax professional or filing an extension, you can use this blog to gain access to resources that will help to make this tax season a success!
Headquartered in the South Suburbs of Chicago; Anderson's Enterprise Management Corporation has been the catalyst in the successful development and growth of our clients' businesses for over a decade. From humble beginnings to a thriving firm, our success lies in our unique U.P.E. process that is proven to produce effective results.
