What the New Tax Bill Means for Small Businesses, Startups, LLCs, S Corps, and Sole Proprietors

*** Last Updated:  12/6/2017  The U.S. Congress is currently in the midst of attempting to pass sweeping tax reforms for businesses of all sizes. Our coverage is primarily focused on how the new tax bill will affect small businesses, LLCs, S Corps, and startups, including service-based businesses. Quicklinks:  The Latest Events |  Summary of Business [...]

Could Your LLC Save on Taxes by Converting to an S Corp?

As an LLC owner, one of the things that you should think about is whether the business should remain an LLC, or whether your business would benefit from changing its corporate structure to something else, such as an S Corp. If you’re thinking of the disadvantages and advantages of changing the corporate structure of your [...]

Thinking about an Offshore Bank Account? Is Offshore Banking Even Legal? The Basics of Setting up an Offshore Bank Account

Have you ever wondered whether you might benefit from having an offshore bank account? Taking steps to ensure that your assets are protected and do not fall victim to frivolous lawsuits are not only perfectly legal, they can be part of any asset protection strategy. Although the phrase “offshore banking” conjures up all types of negative [...]

Tips from Tesla’s Elon Musk: Should You Test How Useful Your Employees Are to Your Business?

Credit: Wikipedia In a biography of Elon Musk written back in 2015, there is a story about how Musk stopped working with his longtime executive assistant. Apparently,  after she asked for a raise, he responded by testing whether she was truly useful to him or not. According to the biography, Musk's assistant Mary [...]

Top Tax Savings Tips When Paying Yourself as a Business Owner

How Should You be Paying Yourself as a Business Owner to Reduce Your and Your Business's Overall Tax Obligations? Our Guide Breaks Down the Details  Probably the most frequent question that small business owners ask their lawyers and accountants is “how should I be paying myself as a business owner” in a way that will allow [...]

Thinking of Hiring a Freelancer? Tips to Protect Your Business When Using Freelancers

It is common today for more and more businesses to hire freelancers instead of full or part-time employees. Hiring a freelancer, often referred to as an independent contractor, can make sense both financially and from a general business standpoint. Some of the benefits of hiring a freelancer include instant support and greater expertise for specific [...]

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