State of California Sellers Permit is one of the many requirements when you are either starting or purchasing an existing business in California. When you start a business, you need to meet City, County and State Requirements such as City License, Fire Department and Health Permit. In this articles we will be discussing all aspects…
When LLC Tax Due?
Many Tax Payers form Limited Liability Company (LLC) in order to better protect them selves as LLC provides Limited Liability. But LLC comes with many requirements that must be followed in order to keep LLC compliant with state and federal laws. If you own a LLC, Do you know, ” When LLC Taxes Due?” LLC…
C Corp and S Corp Differences (Ultimate Guide)
Business owners in US has many choice of entities such as C Corp, S Corp, LLC, General Partnership or Sole Proprietorship. Many Business owners wonder what is best for them. If you are looking to pick either a C Corp or S Corp, its important to know “C Corp and S Corp Differences.” While both…
Can LLC be S Corp?
If you own a LLC or have formed an LLC recently, you may be wondering “Can LLC be S Corp (For Tax Purposes)? Short Answer is Yes. LLC is a very flexible entity. LLC can be taxed as a C Corp, S Corp, General Partnership or a Disregarded Entity. We have compiled a list of…
S Corp Late Election
In order for Election to be considered timely, S Corporation Election Form 2553 needs to be filed with the IRS within 75 days of formation of the entity. This form(2553) can be mailed via certified mail or faxed to the IRS. If this form is not timely filed it can have serious tax consequences. We…
How Often Do Business Pay Taxes?
There are Different types of Business Taxes such as income taxes, sales taxes and payroll taxes. Each of these type of taxes have different tax deadlines. Have you ever wondered “How often do Business Pay Taxes?” Lets learn different type of taxes that apply to a small business owner and how often do you need…
Can You have Multiple LLC?
Have you ever wondered “Can You have multiple LLC? “Short Answer is Yes. Lets learn more how different structures work and how they can be used for asset protection. US Law and Tax Law allows individuals and entities to be engaged in different types of businesses. As a result, you are allowed to form…
How LLC Members are Taxed?
LLC(Limited Liability Company) is one of the most flexible entity. It allows its members many options that are not available as other legal entities. LLC can elect to be taxed as: C Corp, S Corp, General Partnership or as a Disregarded entity(it files taxes as Schedule C along with personal tax return 1040) How LLC…
S Corporation: Ultimate Business & Tax Guide
Are you considering forming a S Corporation or converting your existing corporatoin or LLC to S Corp? This “S Corporation: Ultimate Business & Tax Guide” will help you make the right determination once you learn all the requirements to see if S Corporation right entitry type for you. What is an S Corp? S Corp…
What is My Filing Status?
you ever wondered “What is My Filing Status?” There are 5 different Filing Status available when you file your personal taxes. Each Status has a set of requirements that must be fulfilled to claim the status. Here are 5 Filing Status that are available for you when you file your personal tax return(1040) Single Married…
