When the Covid 19 Hit, everyone thought the Real Estate Market will tank. It did slow down for bit till buyers were uncertain about the future. Once things started opening up Real Estate started going up. Its been going up in 2019, 2020 and 2021. Many of Real Estate Investors and home buyers are wondering…
What Small Business Expenses Are Tax Deductible in 2021-2022?
When you are a small business owner you spend money on many things to keep your business afloat. Many of these expenses simply sustain your business, and other expenses may help you grow your business. What Small Business Expenses are Tax Deductible in 2021-2022?? This is an excellent question and we will answer this question…
Reasonable Salary for S Corp Owners
As an accountant I hear this question a lot ” What’s Reasonable Salary for S Corp Owners? “I advice small business owners everyday “It Depends”. Its sounds like a vague answer, but it is very true as reasonable compensation is based on various facts and circumstances. Many Small Business Owners setup S Corp to help…
7A Loans: The Pros and Cons You Should Know About
In a survey executed by the greeneyedbbw83 mollys massageSmall Business Majority, a minute number of small businesses received funding through the Paycheck Protection Program with only 30% receiving the requested amount. Hence, many Small Business Owners were forced to start looking for high interest Loans to keep their business Afloat. Many of them turned to…
California Sellers Permit: Helpful Guide
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…
