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Before we jump into the mechanics, you should know why the extra complexity is worth it.
If your business makes a lot of profit, you may be a good contender for S-Corp status. If the profit is more than what you would pay somebody else to do your job, then I recommend you look into it.
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Our latest tips on simplicity, business, tech, taxes, and more.
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If you've ever worked for someone else and received a paycheck, your taxes are withheld. The employer deducts that money from your paycheck and sends it to the government. With a few exceptions, you pay taxes on everything you receive. But businesses are different.
Fri-nally! It's the weekend! It was one heck of a week and now all you need is a break. You spun several pieces of fine china in the air to orchestrate all the to-dos and deliverables every day. You've earned some downtime!
When I was a freshman in high school, my first assignment was to read a book by Stephen Covey. The book was, “The 7 Habits of Highly Successful Students.” It was a play on his NYT best-seller, “The 7 Habits of Highly Effective People.”
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When we talk about sports numbers aren't scary. Many fans know all the stats for their favorite team. For those that play in a fantasy league, they may know the main stats for every team and all-star player. When it comes to accounting, most people hit a mental roadblock. Business numbers are abstract compared to sports. All too often people tell me it's too difficult.
Our latest tips on simplicity, business, tech, taxes, and more.
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