A political organization is unique in the way that it is made up. A political organization brings a group of individuals with a common purpose together as they work towards a goal. These goals could be to help an individual become elected to office, to help a bill get passed, or to raise awareness of […]

A household employer is unique in that you usually do not think of this type of person as a business or an organization. Thus, you may be asking yourself, do they or do they not need to obtain a Tax ID (EIN) number? As a household employer, you need to be thinking about all of […]

Do you have a sense as to what the legal terminology is pertaining to a government, federal/military? The Internal Revenue Service recognizes a federal or military governmental organization as its own entity. The entity itself needs to be in compliance with the regulatory agreement to which it is subject. It is all about the knowledge […]

When you have a memorial or scholarship fund, you want to do all that you can to keep it in good standing. With so much work going into establishing the memorial or scholarship fund, the last thing you want to do is for it to fall out of compliance with the Internal Revenue Service. This […]

A personal service corporation is going to require a bank account to do a variety of business activities. When you think about it, just about any corporation, no matter the type, will have to have a bank account. A bank account is going to be necessary in order to hold any of your liquid cash, […]

A personal service corporation is going to serve one of many different things to its customers. When you are a personal service corporation, you are providing something for your core consumers. In exchange for that service, you are getting revenue in return for it, helping you further grow the business. When you think about a […]

As a joint venture, do you have a good sense as to what you have to do to comply with the Internal Revenue Service? Do you know whether or not you need something such as a Tax ID or employer identification number? When you are acting as a joint venture, you want to be organized, […]

When you think about a joint venture, where does that fit in with all of the other types of corporations and organizations? A joint venture is similar to something like a partnership where you have a few different people coming together for a common goal in the business world. With a joint venture, though, you […]

When you are forming a partnership, it is two or more individuals coming together to create an organization with a business purpose. When you come together to form a partnership, you are creating your very own company. That partnership is going to need to obtain a partnership tax return, open a bank account in the […]

What does the Internal Revenue Service define as a partnership? When you think about a partnership, you usually think about two or more people working together. That is exactly how the Internal Revenue Service sees it as well. A partnership, per the definition of the IRS, is a relationship that you enter into with two […]