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Running a business takes a lot of hard work. To continue to finance one’s dream, a small business owner might find themselves in need of more cash to continue operations or to expand. Finding funding can be challenging, but there are many good options, most notably loans. Loans are not a one-size-fits-all solution; there are […]

One of the most problematic issues in the modern digital age is identity theft. According to a U.S. Bureau of Justice Statistics’ October 2023 report, in 2021, approximately 24 million people were identity theft victims during the prior 12 months. Losses totaled an incredulous $16.4 billion. Identity theft can occur in many ways, and tax […]

Most small business owners feel a thrill when they achieve the dream of running their own company. However, with the excitement also comes some stressful factors when dealing with operational logistics. One challenge business owners often face is funding. Needing cash may occur early in a company’s launch, after a couple of years, or even […]

Taking an idea and turning it into an idea to bring to market is an exciting prospect. Once you solidify your business idea and formulate a plan, you’ll have to make many important decisions. One of the primary decisions to make is to choose a business structure. LLCs are growing in popularity as the small […]

Every business, regardless of size or industry, must file federal, state, and local taxes every year. Tax season is often dreaded by business owners because of the details and complexity associated with business tax returns. This is especially true for business owners who must still juggle other important tasks. To simplify the process and reduce […]

Launching a business is an exciting time in any entrepreneur’s life. If you’re considering registering your company as an LLC, you probably have many questions regarding how to do it, such as whether you should obtain an EIN before or after you register. The short answer is to wait. Here, we’ll explain a little more […]

The S-corp business structure provides your business with several advantages compared to a partnership or a sole proprietorship. Namely, this business structure allows you to reduce your self-employment tax, and because that tax is over 15%, electing to be taxed as an S-corp can potentially save you a lot of money.  At the same time, […]

In spite of the name, Employer Identification Numbers (EIN) are not just for employers. All kinds of entities use an EIN as their tax identification number. In particular, if you’re setting up a trust, you need this number. To help you out, this guide provides a brief overview of trusts, looks at why they need […]

Churches are tax-exempt, and if they qualify for 50(c)(3) status, they don’t have to file an annual income tax return as many non-profits do. If you run a church, you don’t have to worry about paying income tax or filing a tax return for the church. But you still need a tax ID. To help […]

If you are forming a corporation, you will need to obtain a tax ID (EIN) number. This is a nine-digit number that is used to identify your business for tax purposes. You can apply for an EIN online, by fax, or by mail. But applying online is usually the best method. In Brief: How You […]