Call Us: 801-802-9020

Blog

When Does A Single Member LLC Need a Tax ID Number?

I continually get folks calling me for advice because they have established a single member (one owner) LLC and want to open a bank account. The bank is insisting that they have an EIN (Employer Identification Number) before the bank will let them open the account. When […]

Read more

Plan For Taxes All Year

Taxes have just poked a hole in your wallet.  It’s time to plan for the next round and resolve to make the hole smaller next year.  To do that, you’ve got to prepare the numbers all year long so your tax dude can plug them into the […]

Read more

Moving LLCs

Forming an LLC in a state different than where it does business in means increased fees. Moving LLCs to where they should be will save you in the long run. There are several options available for moving LLCs, depending on what state your LLC is formed in and where you want it moved to.

Read more

Spouse as Member in an LLC

We are often asked whether it would be a good idea to have your spouse as member in your LLC to make it a multi-member LLC. When you are looking for another member in your LLC, the best solution is to have a member who is not […]

Read more

Watch Out For the Due-on-Sale Clause

Any time you transfer real property, your lender can use their due on sale to require that your loan is due in order to force the new owner into a higher interest rate. Exceptions include transfer due to death, divorce, and putting your property into a living revocable trust.

Read more

NAICS Codes Make a Difference

Sometimes it is just a little thing that can trip you up. For years I had the same big accounting firm do my taxes. As it turns out, they had me coded as a retail store owner. I’m basically a professional speaker. A retail store owner doesn’t fly 200,000 miles in a year, so that was an automatic flag. I was getting audited at least once every five years.

Read more

How to Save Tax Receipts

By the time the IRS gets around to auditing you, the information on those paper receipts you’ve been keeping in multiple bulky envelopes may have faded away into nothing.  This is not very effective.  So how should you save tax receipts to make the IRS happy? According […]

Read more

Can I Deduct Business Expenses for an LLC?

The truth is that running your business in the form of an LLC, whether it is taxed as a sole proprietorship, partnership or corporation, makes good tax sense.

Read more

What About the LLC Tax Election?

The decision on how what LLC tax election to make is one you should make with the advice and help of an accountant. Ultimately it is a financial decision that should take into consideration what your business is and how it makes money.

Read more

Putting a Company Into a Trust

You have spent your life working to build your business, but how much effort have you put into protecting it? And beyond lawsuits, the sad truth is that many small businesses don’t survive the death of the founder.

Read more
Page 4 of 12« First...23456...10...Last »