Forming a C corporation to take advantage of fringe benefits when your business doesn’t fit the C corporation model. (Can you spell nightmare?)
Asset Protection and Business I.Q.
Entries Tagged 'Taxes' ↓
Costly Mistakes 6-10 – in Business
July 7th, 2010 — Business Credit, Business Credit Builder, Business Financing, Business Promotion, Business Startup, IRS, LLC, Nevada Corporations, Other Business, Podcasts, S Corporation, Small Business, Small Business Start-Up, Sole Proprietorship, State Incorporation, Taxes, U.S. Company, Why Us, Work and Family
Costly Mistakes – Continued…
July 7th, 2010 — Business Credit, Business Credit Builder, Business Credit Video, Business Financing, Business Startup, CPA, California Corporation, Credit Bureaus, Incorporation, LLC, Nevada Corporations, Other Business, Personal Credit, Small Business, Small Business Start-Up, Sole Proprietorship, State Incorporation Video, Taxes, Top Five Percent Club, Why Us, Work and Family, World Internet Summit
Costly Mistake Number 3:
Forming an LLC and having it managed by members instead of managers* (A sure way to lose flexibility and control)
10 Costly Mistakes Before Entity Formation
July 7th, 2010 — Business Financing, Business Startup, Credit Bureaus, S Corporation, Small Business Start-Up, State Incorporation, Taxes, U.S. Company, Why Us
Costly Mistake Number 1:
Forming an LLC and NOT knowing how it’s taxed (Are you a single or multi-member LLC? Will you be disregarded for tax purposes, taxed as a partnership, a C-, or an S-corporation?)
Asset Protection and Business I.Q.
SE Taxes
May 24th, 2010 — Business Credit, Business Startup, Incorporation, Other Business, Small Business, Taxes
The KEY QUESTION: “ARE THESE PROFITS SUBJECT TO SELF EMPLOYMENT TAXES?”
According to an IRS official and a national issue specialist in its Examination Specialization Program, until the Service issues further guidance, it will not challenge limited liability company (LLC) members on self-employment (SE) tax if the member and the LLC conform to the most recent (1997) proposed regulations (REG-209824-96). These regulations, however, need clarification now on the definition of limited partner (LP).
How the World of Business Financing has Changed Over the Last Two Years
July 14th, 2009 — Business Credit, Taxes
The finance world has changed, perhaps more dramatically in the last 1-2 years than any time in our modern history.
This has affected the results to be expected in the area of business credit and what results are likely.
