LLC vs LLP: Why You Should Choose Limited Liability PartnershipTrying to answer the LLC versus LLP question? Tax professor and best-selling small business writer Stephen L. Nelson identifies four of the common reasons that firms go with the LLP (limited liability partnerhip) option.
LLC vs S Corporation: Five Tricks for Making an Easier DecisionNew small business owners often wrestle with the question of whether to form a new business as a limited liability company or as an S corporation. In this short article, tax professor Stephen L. Nelson provides five tips for making this question easier to answer.
Adjusting S Corporation Salary Because in a RecessionLowering the salary paid to S corporation shareholder-employees can be a good way to save money during a weak economy. But one CPA says you need to be careful not to run afoul of IRS rules.
Accounting Setup Tips for Limited Liability CompaniesSmall business owners can complicate their accounting beyond their ability or their bookkeeper's ability to handle. CPA and author Stephen L. Nelson provides some tips for avoiding this minor bookkeeping disaster.
Financial Planning Mistakes in Ramsey's Best-selling BooksAuthor, television show host and general good guy Dave Ramsey provides lots of useful financial planning advice for people in trouble But one CPA points out that, for some individuals, Ramsey's information leads to financial miscalculation.
Ayn Rand and How NOT to write a business planAyn Rand may inspire entrepreneurs with her energetic defense of free-market capitalism. But Ms. Rand has some goofy ideas when it gets down to the basics of writing a good business, as this author explains.
Brainstorming About a Home-Based Internet BusinessA well-known small business accountant identifies five techniques for identifying possible Internet home based businesses you might start
What You Need to Know About Income Tax on Your S CorporationS corporations are designed to avoid corporate income tax, but in some cases even S corporation owners will have to pay income tax on their business. Learn when this is the case and how to avoid such taxes from Seattle CPA and bestselling author Stephen L. Nelson.
LLC versus LLP: What's the Difference?Trying to choose between a limited liability company and a limited liability partnership? A CPA explains the difference between an LLC and a LLP-and when you choose which option.
Does a limited liability company offer a less protection than a regular corporation?If you're confused about the legal protection offered by traditional corporations vs. LLCs, Seattle CPA Stephen L. Nelson is here to help. He explains why the LLC model works better for small businesses, as well as how to protect your business and your family from creditors by running your business as an LLC.
Using Quicken for Your New Internet BusinessOnline businesses present their owners with all sorts of challenges. Fortunately, keeping the books doesn't need to be one of those challenges as long as you use the popular Quicken software program and follow these five bookkeeping tips.
Why You Shouldn't Use S Corporations for Real Estate InvestingReal estate investors regularly make a terrible mistake when setting up a company to hold their investments... they choose an S corporation. A tax accountant explains just some of the reasons this choice creates problems.
Five Tips for Using QuickBooks for an eBay BusinessDoing the bookkeeping for a small eBay business doesn't have to difficult if you're using QuickBooks. Just follow these five tips, say CPA and author Stephen L. Nelson
Managing Your S Corporation through the DownturnS Corporations now count as the most popular incorporation choice for small business corporations. But while the S corporation classification saves entrepreneurs taxes in a healthy economy, business owners need to take several tax planning precautions in a recession, as this article explains.
Starting a Business Checklist for New EntrerpreneursA recession may be a great time to start your own small business. But refugees from the corporate world may not know how to get started. Fortunately, in this short article, a small business CPA outlines the basics.
Writing a Business Plan in a RecessionPlanning and managing a small business works differently in a contracting economy. In this article, CPA and bestselling author Stephen L. Nelson shares a handful of tactics for adjusting and improving the business plan when times are tough.
Setting Low S Corporation SalariesS corporations save their owners taxes by grinding down the heavy payroll tax that owners pay on their profits. But the small S corporation needs to be careful... set a shareholder-employee salary too low and the planned-for savings may trigger an IRS audit. In this article, CPA and tax professor Stephen L. Nelson discusses how long you can go...
Dumb Business Planning Ideas in a RecessionA bad economy forces all businesses to do more business planning. But in the rush to do something, business owners and managers shouldn't make one of these three common mistakes, says business accountant and best-selling author Stephen L. Nelson.
Protect Your Business Using Limited Liability CompanyFor the small business owner, a limited liability company provides better legal protection than a regular corporation and at a lower cost. CPA Stephen L. Nelson, author of the bestselling books Quicken for Dummies and QuickBooks for Dummies explains...
Limited Liability Company Myths BustedThinking about forming a new business or venture as a limited liability company? Don't let one of the common LLC myths corrupt your decision-making, says CPA and author Stephen L. Nelson.
Easy Tax Saving Tips for S CorporationsS corporations provide their owners with wonderful tax savings opportunities. Unfortunately, S corporation accounting can be a little tricky--especially for small business owners and their bookkeepers. In this short article, CPA and bestselling QuickBooks for Dummies author Stephen L. Nelson provides three tips for assuring that S corporations don't miss out on the tax saving opportunities available because of the accounting complexity.
Tax Myths about Incorporating a BusinessNew business owners sometimes believe the goofy urban myths about how incorporation can save the small business entrepreneur income taxes. In this short article, CPA and tax professor Stephen L. Nelson explains which bits of tax law lore are false and shouldn't be used in making the decision to incorporate.
The Psychology of Business Plan BlundersPlanning a new venture is always tricky. But entrepreneurs can ease the planning process and improve the final result by avoiding some common psychological traps.
Year-end Bookkeeping Checklist for S CorporationsS corporations can save their owners thousands of dollars a year in taxes--which explains their popularity among small business entrepreneurs. Unfortunately, S corporation year-end bookkeeping can confuse and befuddle new and experienced S corporation owners. Use this checklist to simplify the year-end process.
Answering the LLC versus S Corporation QuestionSmall business owners and entrepreneurs sometimes find the LLC vs S corporation question confusing. But one tax professor says the question is easy to answer if you understand how LLCs work.
[1] [2] [3]
