June 12, 2018 | BY Michael Rabinowitsch
Congratulations! You have finally decided to start your own business.
Or maybe you have been operating as a sole proprietor and have decided it is time to protect your personal assets from those involved with your growing business.
You now face the choice of whether to structure your business as an S corporation (S corp), or a limited liability corporation (LLC).
business - llc - s corp - small business
June 07, 2018 | BY admin
Some business owners — particularly those who founded their companies — may find it hard to give up control to a successor. Maybe you just can’t identify the right person internally to fill your shoes. While retirement isn’t in your immediate future, you know you must eventually step down. (more…)
business - business owner - succession planning
June 05, 2018 | BY Simcha Felder
Plan B is never best planned while plagued by panic and the frenzied fear of Plan A’s imminent failure- though it often is.
Business owners study the market and the competition with a growth mindset. The goal is always to stay ahead of the pack by managing risk and leveraging strengths, but managing risk in a disaster is often where the boys are separated from the men.
#taxbill - business - tax
June 04, 2018 | BY admin
Do bad sales months often take you by surprise? If so, don’t forget the power of flash reports — that is, snapshots of critical data for quick, timely viewing every day or week.
One specific way to use them is to track bookings vs. shippings. Doing so can help you determine what percentage of volume for certain months should be booked by specific dates. These reports are particularly useful if more than 30 days elapse between these activities. (more…)
business - sales
May 22, 2018 | BY admin
It’s not uncommon for businesses to sometimes generate tax losses. But the losses that can be deducted are limited by tax law in some situations. The Tax Cuts and Jobs Act (TCJA) further restricts the amount of losses that sole proprietors, partners, S corporation shareholders and, typically, limited liability company (LLC) members can currently deduct — beginning in 2018. This could negatively impact owners of start-ups and businesses facing adverse conditions. (more…)
business - small business - tax