LyfeAccounting

MARCH 25, 2021

You see with an LLC you are able to separate your business assets from your personal assets. So if someone sues your business and you lose then the only thing that they can go after legally are assets within your business. So, it gives you this sense of security through having a legal shield.

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LyfeAccounting

MARCH 10, 2021

Well, if you want to put yourself at risk of IRS tax penalties in 2021, then you’re doing exactly that. So it’s clear that more people need to know about tax penalties in 2021, especially if you are a small business owner and need capital to survive. Delay taxes for a stimulus check? And even jail time.

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LyfeAccounting

JUNE 9, 2021

But before anything else, let me mention that by no means are we giving you legal or financial advice as this post is for informational purposes only. It is NOT legally required that a lawyer prepare this for you. And if you need more help with choosing the best business entity for you, contact us today. Statement of purpose.

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LyfeAccounting

JULY 6, 2021

Business licenses and permits – depending on the business industry, certain licenses and permits are required. So you want to make sure that the business has what it needs to operate. Leases and contracts – you want to learn who the business is legally tied to.

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LyfeAccounting

MAY 21, 2021

Examples include the money you spend on: researching your business, getting an office, ordering business cards, training yourself or your staff, and. Organizational costs are the costs to incorporate your LLC such as legal fees and state fees. Business Meals. Legal and Professional Services. everything in between.

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LyfeAccounting

JULY 30, 2021

You can literally earn money tax-free, and even avoid taxes legally. The post Stocks vs. Real Estate Investing – Which is Better in 2021? appeared first on Small Business Accounting & Finance Blog. It’s the only tax deduction that can lower your income without actually costing you a dollar.

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LyfeAccounting

JULY 8, 2021

Step 4: Choose Your Business Entity. So in some states, like Georgia for example, you can establish a sole proprietorship without filing any legal documents with the Georgia Secretary of State. If everything is going great then congratulations, you have officially joined the bootstrapped club of starting a business without money!

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LyfeAccounting

APRIL 28, 2021

Of course, you have to go about this in a very smart and legal way to successfully pull this off. Now let’s jump into the list of cars in 2021 that weigh over 6,000 pounds that qualify for the section 179 vehicle tax deduction. 2021 Tesla Model X. 2021 Mercedes-Benz G-Class. 2021 Porsche Cayenne. 2021 BMW X5.

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xendoo

SEPTEMBER 4, 2020

So if your loan period ends in September 2020, the forgiveness application deadline is July 2021. Stay in touch with your accountant for PPP developments that may affect your best interests. The small business accounting experts at Xendoo have the information you need. Check out our affordable monthly plans today!

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LyfeAccounting

JUNE 9, 2021

A quick disclaimer that this is not financial or legal advice, and you should consult with your personal CPA or lawyer regarding your specific situation. It’s mid-April 2021 and Bitcoin just blew past $60,000 to reach all-time highs. Let’s dive in. Quick Cryptocurrency Story. Talk to us today!

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LyfeAccounting

DECEMBER 7, 2020

Note that for guidance or advice specific to your business, you should consult with a tax or legal professional. 1, 2021, and April 30, 2021, if a permanent cut is granted in the future. A ton of businesses get caught off-guard when predicting payroll taxes because they forget to include all forms of compensation.

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LyfeAccounting

DECEMBER 30, 2020

Stay tuned as today, we’re taking a look at how you can pay very little in taxes with real estate, legally. Now we just wrote a post about the new tax brackets going into 2021, which you can read in this link. Here’s the planned federal tax brackets for 2021. But actually, thanks to the standard deduction of $12,550 as of 2021.

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LyfeAccounting

JUNE 3, 2021

Meaning by “full faith and credit”, it ACTS as legal tender for goods and services. Through the centralized banking system, the dollar bills going around only represent legal tender. Results from the studies are expected to be released in the summer of 2021. Prior to 1971, the US dollar was backed by gold.

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LyfeAccounting

OCTOBER 16, 2020

Cons: The con of sole proprietorship is that your financial and legal situations are tied together. Pros: The major pro is that C Corporations are legal entities that shield stakeholders from personal liability and company debt. Especially because legal costs are very expense and time consuming. Starting a business isn’t easy.

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LyfeAccounting

APRIL 27, 2021

Because you are the Employer and the Employee in your business, you get to reap the tax benefits of both sides. As of 2021, you can contribute up to $58,000 in a Solo 401K account. For comparison, that’s $52,000 more than you can in a traditional IRA or retirement account.

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xendoo

MARCH 18, 2021

Additionally, if you wait until tax time to get it together, it can end up giving you a real headache – hiring an accountant at the last minute with books full of errors could cost you more than you set aside in the first place. What does online accounting software do?

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LyfeAccounting

MAY 27, 2021

Now, remember, this post is for informational purposes only, and by no means are we giving you legal or tax advice. So if it says ‘tax year 2018’, there’s no need in worrying about 2017 or 2020, 2021, etc. Here’s What to Do appeared first on Small Business Accounting & Finance Blog. The post Got an IRS Letter?

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