LyfeAccounting

APRIL 22, 2021

We’ve all heard it before… Amazon paid $0 in taxes while making over 11 billion dollars in profit. And while most businesses were paying their fair share of taxes, in 2018, Amazon received a rebate of $129 million. This basically means Amazon got a federal tax refund for millions of dollars. Must be nice, right?

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LyfeAccounting

JULY 3, 2021

So, a nonprofit organization is a business entity in which your goal is not to be profitable… …but to make money to expand on a social clause like feeding the homeless or helping victims of harsh circumstances. But we can’t ignore that it has some incredible tax benefits for its members and managers.

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LyfeAccounting

DECEMBER 1, 2020

C-corps are taxed once at the company level, and distributions of profits (aka dividends) to shareholders are taxed again on shareholders’ personal tax returns. Now here are the steps on how you can incorporate a business. Steps on How to Incorporate a Business. Here is what this process looks like for Georgia.

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LyfeAccounting

JUNE 9, 2021

In Arizona, it’s $50, Nevada $75, Georgia $100, New Jersey $125, and in Alabama, it’s $200. And depending on the state, you may also have to pay state franchise taxes. A registered agent is a person or business that will receive legal and other documents on behalf of your business such as tax notices or subpoenas.

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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. You can take your time and develop skills while still following the next few steps in this post.

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LyfeAccounting

DECEMBER 28, 2020

Do you want to know how the rich get away with paying little to no taxes, while many others overpay on their taxes? Well here it is – Tax Credits and Tax Incentives! If you’re anything like me, I’m sure you’ve heard all of these stories about how Jeff Bezos or Donald Trump pays almost little to no taxes.

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