Running a business is stressful. A lot of things can be overlooked, so, we have compiled a list of common mistakes in the business world. Not Using Business Consulting Business Consulting services are beneficial to any company. If you feel like your business is stuck in a rut and
A tax deduction is an expense that a company or a person can subtract from their overall income. Generally, a deduction is a form of incentive that comes as a result of expenses that are sure to produce additional income. Did you know there are plenty of items you can
I am often asked if real estate investors need to create a separate Limited Liability Company (LLC) for each investment property they own, or if one LLC can cover them all. My answer is always: create an LLC for each property. In fact, many investors and builders name each LLC after
With the current COVID-19 pandemic, many of us are finding ourselves doing more virtually. From meetings to happy hours, we are doing more online – including our taxes. In a period of time where most Americans are usually concerned about tax filing, there are now new accommodations as a result
Once you’re running a business, expenses such as advertising, utilities, office supplies, and repairs can be deducted as current business expenses — but not before you open your doors for business. The costs of getting a business started are capital expenses, and you may deduct $5,000 the first year you’re
Setting up your own business can seem intimidating and be frustrating to those who want to turn their passion into a company. Whether you are creating a Limited Liability Company (LLC), a Subchapter S-Corporation (S-Corp) or a Subchapter C-Corporation (C-Corp), we will provide you with necessary information to decide which
This year is coming to an end and many business owners are taking a closer look at their finances. As a business owner, your goal for the new year may be to cut back unnecessary or extravagant costs. Implementing small, preemptive steps while your company is financially secure is an
As a small business owner, you most likely have had conversations with a professional to discuss which business entity is right for your growing company. Whether you choose to incorporate your small business as a limited liability company (LLC) or an S corporation, you should consider the various benefits of
Now that tax season is complete, you may be wondering how to better prepare and organize your business’ finances. If you are managing a growing business’ finances yourself, you have most likely noticed the importance of organization and updated reports – especially when you are trying to provide an accountant
Have a question or need assistance? Submit your details and we’ll be in touch shortly. You can also email us at info@hylencpa.com
