Last week, we started our two-part series on common mistakes that could sink your small business. This week, we’ll finish up the list and give you tips on how to avoid those mistakes so your business can thrive. If you missed last week’s blog post, you can find it here. Take a moment to read […]
So, you’ve decided to start a business. You have the proper business structure and some funding to keep you afloat. You’re all set, right? Well, not exactly. There are common mistakes small businesses make every year, and the consequences can be harsh. One study estimated that a staggering 18.4% of businesses fail in the first year, […]
This is the third installment in our series on starting your small business, securing funding, and navigating taxes. All month, we talked about setting up your small business with the right structure. Having that in place is great, but you’ll also need cash to keep your startup rolling. That’s where small business grants come in […]
This is the second installment in our series on starting your small business, securing funding, and navigating taxes. You’re fired up about your new business. And you should be, it’s exciting! But if you want that feeling to last, you must lay a solid foundation. That means choosing the right business structure at the outset. […]
This is the first installment in our series on starting your small business, securing funding, and navigating taxes. Starting a business is always exciting, but it also has tax implications. So, the business structure you choose matters. A lot. In this post, you’ll learn how to determine if a sole proprietorship is the best structure […]
If you use a Third-Party Service Organization (TPSO) like Venmo, PayPal, or Zelle to send and receive money, there are some changes headed your way. These services are wildly popular. Venmo alone went from 23 million users in 2018 to 70 million in 2021. But TPSOs have created an income tracking problem for the IRS. […]
The IRS requires 1099s to be issued to track income and, in some cases, income movement. So, you’ll have a smooth tax season if you act on every 1099 received and report all your income.
This is the second and final installment of our blog series explaining capital gains taxes. Last week’s introduction to capital gains taxes provided background on what constitutes a capital gain. It also provided information on what qualifies as a capital asset. This week, let’s concentrate on understanding how capital gains taxes can impact your bottom […]
This is the first in a two-part series explaining capital gains. There’s no doubt 2022 was a complete letdown for the average investor. Stocks, crypto, and real estate all took hits last year. The S&P 500 stock index was down nearly 20%, its worst year since the financial meltdown of 2008. Bitcoin, the standard by […]
2022 is in the rearview mirror, and most people are glad to see it go. It was a year of high inflation and low investment returns, the worst in over a decade. It’s difficult to know if 2023 will be better than its predecessor, but one thing is sure. Regardless of what happens next year, […]