Running your own business can be an exceptionally rewarding — but tough — process. However, running a business of any size is simply unimaginable without a reliable system. If you have solid financial records, you’ll be able to streamline the management of debts, deposits, as well as any items you’ve sold on credit. In contrast, […]
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Just as you turn to a mechanic for automotive assistance or a physician for healthcare solutions, the benefits of hiring a professional accountant can’t be understated and shouldn’t overlooked. Besides, your business needs you. From scheduling to hiring to shipping, your business acumen is crucial. You’ve established and built your business, and you know best how […]
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At John F. Dennehy CPA, one of the most common questions we receive from businesses is “Do I need to pay quarterly taxes?” Unfortunately, the answer to this question depends on the type of business you own as well as other factors. Even though April 15th is the well-publicized tax deadline, certain types of business […]
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Starting a business is an exciting venture and can be a viable pathway to fulfilling your dreams. However, before you choose a C-corporation, it’s imperative you have a clear understanding of the benefits of a C-Corp as well as the disadvantages of a C-Corp. Failure to understand and consider the potential disadvantages of C-Corp can […]
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The benefits of C-Corps are one of the primary reasons these types of business entities dominate American business. Simply put, there are far more C corporations than any other type of business in the U.S. While there are numerous reasons to explain their popularity, the main and most attractive benefits of a C-Corp include: Limited […]
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Differences Between an S-Corp vs C-CorpThere are several important differences between these kinds of corporations. One of them has everything to do with taxation. C-corporations are widely regarded as tax-unfriendly entities, the primary complaint being “double taxation.” The business entity is taxed by the government with corporate income taxes, and the personal income of the […]
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If you’re at a point of deciding what kind of business structure to form for your new enterprise, it’s important to know your options. LLCs and S corps have a lot in common, and also a lot of differences. The tax differences between these two are especially important to understand. Any entrepreneur can appreciate the benefits […]
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It’s your business and livelihood. You’ve worked hard to build, nurture, and establish them both; and the benefits of an S Corporation may be the best way to protect it all. An S Corporation or S Corp is similar to a type of corporation — offering investment opportunities, the ever-so-important protection of limited liability, and […]
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Although most people understand the vast benefits of limited liability companies (LLCs), significantly less are aware of the disadvantages of forming an LLC. And while the benefits may outweigh the costs, it’s only fair to look at both sides of the coin and explore the disadvantages of forming an LLC. to learn more […]
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Running a business can be difficult due, especially when you consider complex tax rules and the possibility of opening yourself up to liability lawsuits. Anyone who has ever run a business would agree. If you’re thinking of starting a new business – or if you’ve been making money and need to create a business for […]
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