LLCs are not recognized by the U.S. Internal Revenue Code as being a distinct taxable entity, and are instead taxed as a sole proprietorship, partnership, C corporation or S corporation, and which one they select, comes down to several different factors. When it comes to their tax treatment, LLCs have a lot of flexibility. Let’s […]

It is entirely possible for absolutely anyone to start their own business, but whether they make a success of it is a whole different matter! Nowadays, with so many more viable business opportunities, and a generation who are keen to work for themselves and bring exciting new products and services to a growing consumer base, […]

Growing more and more in popularity with every passing year, outsourcing for a variety of practices – including accounting – helps businesses improve their efficiency levels, stay on the right side of the IRS and afford themselves more time to focus on value-added activities. That said, you may still be uncertain as to whether outsourced […]

Managing the finances of your small business is essential for its success, and involves so much more than merely numbers and spreadsheets. For longevity and profitability, business owners must plan strategically, and have realistic budgets and clear financial targets. Whether you choose to seek help from a financial expert, or are going it alone, having […]

Businesses that perform well and achieve their financial and accounting goals, typically do well at the basic elements of bookkeeping, such as tracking and recording daily transactions, producing invoices and maintaining and balancing general ledger. Whether they do this inhouse with their own bookkeeper, or outsource to an agency, the simple bookkeeping tasks associated with […]

With the exception of sole proprietorships, all business forms are considered entities, and entity management simply describes the practice of efficiently managing the company’s important data and documents to ensure compliance at all times. While it is of course possible to manage your own business systems, many organizations find it easier to use the services […]