One of the most asked questions I get is “should i set up my business as a Limited Liability Company (LLC) or an S-Corporation (S-Corp for short). And the short answer is – it depends. Depending on who you ask, an attorney or an accountant, you will get different opinions. So let me equip you…
I can’t believe it’s almost 2016. I mean it seems like just yesterday we were enjoying summer and the day before that we were ringing in 2015. Time flies and waits for no one. And as a business owner it seems like it flies by even faster. But what we can’t do is let it…
Growing a business takes a lot of hard work. As much as we all would love to have an idea, put it out into the world and poof we’re a success, it just doesn’t work that way. Success doesn’t come over night, despite how easy other business owners make it look. The main thing…
This is a question that gets asked often. And it surprises me how many business owners consider themselves solo-preneurs, even with revenues well over $0.5m and even as high as $1m. So first let’s define each one. A solo-prenuer is someone who work for themselves and pretty much by themselves. They are the Chief Everything…
Everyday we wake up and go to the office to earn a paycheck. Whether it’s a paycheck as an employee or a paycheck as the owner of our own company. Our goal is to make income/money so that we can support our families. And maybe even a little entertainment as well. All work and no…
During the past year some of my clients along with myself have experienced some legal woes that have had major effects on our bottom-line. These lessons range from small to large. The bottom line is as a business owner you have to be sure that you protect yourself. You have to be sure that you put…
Well it’s that time of year again – Tax Time! And the very first filings that have to be done are the quarterly returns for the last quarter of last year. You also need to prepare and distribute W-2s and 1099s. Before you start preparing these forms you need to get a few ducks in…
Starting a business is no easy task. Regardless of what anyone tells you or shows you, don’t believe the hype. Regardless of what you see on social media, don’t believe the hype. See I knew better than to believe the hype but I did anyway. I tried to mimic and do what I saw others…
Accounting is the recording of financial business transactions in a systematic way. It encompasses the process of summarizing, analyzing, and reporting these transactions in a comprehensive way. It is one of the most important jobs or tasks of a business. This act of organizing financial data can tell you all sorts of things about your…
Operating a business requires continuous cash inflow and outflow. And I’m not necessarily talking about no small potatoes. Sometimes there are some big ticket items weighing us down and we harbor them and hold them close and then implement other processes that end up hurting us in the long run. These processes are not written…
