If your small business is or perhaps more importantly will be netting you over $50,000 this tax year and you're operating your LLC as a disregarded entity, you may be paying too much in taxes. One potential strategy on Read More
How to Maximize Your Business Vehicle Tax Deductions in 2023
The tax landscape is ever-evolving, and 2023 has brought some significant changes, especially in the realm of business vehicle tax deductions. With the potential to save thousands of dollars in taxes, understanding these changes Read More
Why an LLC may Not Provide Personal Liability Protection You’re Hoping For
Key takeaways: Generally, your business needs to have $5000 (or more) in gross revenue during your first year to justify the added cost of forming an LLC A Separate Entity (ie LLC) may or may not offer liability A Read More
Should I Form an LLC Entity For My Small Business?
Creating an LLC for your business isn't always as cut and dried as many may think. I often talk to really small business owners who probably could have saved some money by not forming an LLC and stayed with the tried and true sole Read More
Illinois Workers' Compensation Embraces Venezuela-Style Price Controls
Workers' Compensation insurance pricing should be regulated by the free market if legislators want the lowest price, best coverage, and best service for the businesses and workers that depend on workers' compensation insurance to Read More
Starting a LLC in Wisconsin and Get an EIN Number
Forming a Limited Liability Company (LLC) in Wisconsin and receiving a federal employer identification number isn't tough with the right instructions. Most new business owners can do it themselves without much effort. You'll Read More
Contractors Pay and Don't Charge Sales Tax In Wisconsin
Contractors should pay sales tax to vendors such as Menards and Home Depot for parts and materials for remodeling projects on real property generally. Quick terms tip on the difference between REAL PROPERTY AND PERSONAL Read More
What Is a 941 IRS Form?
If you're a new employer, it won't be long until you learn what an IRS form 941 is all about. Form 941 is a report filed quarterly to the IRS that indicates the amount of wages and pay made to employees and also the Read More
Obtain a W-9 Form From Your Subcontractors Before They Begin Working. Including a Downloadable W-9
An IRS Form W-9 is titled Request for Taxpayer Identification Number and Certification. I always know the holidays are over and tax season is upon us because my clients increase the number of tax and accounting related Read More
Only One Part-Time Employee? Maybe Consider Subcontracting Instead
Sometimes, it's better to use an outside staffing agency for people you already want to hire Often it costs the same and can save a manager time by hiring a person through a staffing agency (even when you have a Read More