Many people are opposed to the Obama Administration’s healthcare law and the amount of lawsuits challenging the law are mounting in numerous states throughout the United States. What many don’t know is that there was a little talked about provision placed in the bill that barely made a headline amidst the sweeping changes to our […]
A corporation is a distinct legal entity that pays workers for their services. Corporate shareholders who operate the business are compensated just like any employees. This permits the corporation to provide employee benefit plans to the owner. An independent contractor taxed on income reported by Form 1099 is not entitled to establish employee benefit plans […]
When an LLC is created in any state, a selection is permitted for how the business is taxed by the federal government. This choice affects the accounting records and type of tax return required for the LLC.
When you create a corporation as the successor to your proprietorship business, there are many steps in the transition. One of the important changes is that you become an employee of the corporation. You’re responsible for managing the business as a separate entity.
A number of states have passed tax credits for angel investors in an effort spur additional financing and new business formation for entrepreneurs. If early returns from a program in Minnesota are any indication, the tax credits may be a widespread success.
Most small business owners are already aware of most of the tax deductions that they can earn after creating a corporation. But Bankrate.com‘s Marcia Passos Duffy says there are some less common ways to save money on taxes.
A new Connecticut jobs bill that includes a tax cut for angel investors – which goes into effect on July 1 – should encourage investment in small businesses in the state, according to the American Chronicle.
A change in West Virginia regulations regarding nonprofit organizations will make it easier for many smaller charitable organizations in the state to keep their tax exempt status.