Ordinary and Necessary

Ordinary and Necessary

Nov 18, 2021 | Taxation

Ordinary and Necessary The very first question any new entrepreneur has is…”can I expense that?” Understanding what you can and cannot expense is one of the first lessons you will learn. You will also find out that every accountant and their interpretation of the...
Tax Jargon – Isn’t My LLC Already an S Corporation?

Tax Jargon – Isn’t My LLC Already an S Corporation?

Nov 18, 2021 | Formations

Tax Jargon – Isn’t My LLC Already an S Corporation? You did it, you set up your own limited liability company in your State. You are excited, you are the sole owner, you get the Articles of Organization, you get the Federal Employee Identification Number (EIN), you...
Understanding Estimated Tax Payments

Understanding Estimated Tax Payments

Nov 18, 2021 | Taxation

Understanding Estimated Tax Payments You are nervous, I get it. You are nervous that you will come to April 15th and get hit with an enormous tax bill. You can hear your accountant now, “Sally, you had a great year, but we didn’t plan accordingly, and you owe $10,500,...