For the love of your business
For the love of your business
One of the smartest moves you can make as an entrepreneur is to structure your business as a limited liability company (LLC) or an S Corporation. You’re probably aware that both LLCs and corporations can protect your personal assets from debts and lawsuits incurred by your business, but they also offer other key benefits that […]
Read MoreWith the rise of the “gig economy” and so many people now working as independent contractors (ICs), as opposed to full-time employees, you should be well-familiar with the rules and requirements for the tax form known as a 1099. A 1099 is designed to document and track payments you make to ICs for services they […]
Read MoreAs you’ve undoubtedly heard by now, the 2017 Tax Cuts and Jobs Act (TCJA) is the most sweeping change to the U.S. Tax Code in more than 30 years. And while the legislation provides many of the biggest breaks to large corporations, it offers numerous benefits to smaller businesses as well. Due to the immense […]
Read MoreLast week, we discussed three potential scenarios in which poor estate planning can cripple your business. However, the damage described in those three hypotheticals pales in comparison to what recently happened in real life to the owner of one of Canada’s hottest new startups. Gerald Cotten launched the cryptocurrency exchange QuardigaCX a little more than […]
Read MoreHiring your minor children to work in the family business is a great way to help them develop a solid work ethic, teach them money-management skills, and fund their savings for the future. But employing your children also comes with a number of valuable tax benefits that you might not be aware of. And following […]
Read MoreIn the first part of this series, we discussed the initial steps to take to save big on your 2018 taxes. Here, we continue with the next steps in this process. Taxes are a thorn in just about every entrepreneur’s side. Indeed, taxes are your single biggest business expense. Fortunately, it’s fairly easy to reduce […]
Read MoreRealizing that your biggest personal and business expense, bar none, is taxes can be quite a shock. Indeed, seeing so much of your hard-earned money end up in the government’s hands can feel like a shakedown. Fortunately, focusing just a little time and effort on strategically reducing your taxes can pay huge dividends. The first […]
Read MoreThere’s currently more than 1,300 different forms of cryptocurrency like Bitcoin traveling through cyberspace, with a total value of more than $575 billion. While some people buy and hold crypto as an investment opportunity, many consumers use it just like other forms of currency—to purchase good and services. From lower fees, enhanced security, and the […]
Read MoreThe typical formula for financial planning is to earn enough income, so you can invest a portion of it with Wall Street in hopes that one day you’ll accumulate enough wealth to retire. The plan is to sock enough money away over 30+ years and pray these investments eventually grow ample enough for you to […]
Read MoreThe web has revolutionized business operations in numerous ways: email, social-media marketing, and online job recruiting are just a few of the biggies. But another innovation is dramatically enhancing your ability to obtain business financing via online crowdfunding. Whether it’s equity crowdfunding, rewards crowdfunding, donation crowdfunding, or lending crowdfunding, these methods allow you to solicit […]
Read MoreUndoubtedly, many budding entrepreneurs have developed winning business concepts over the years, but have ultimately given up due to a perceived lack of funding. This may have even happened to you. Indeed, banks are primarily interested in lending to established companies. Dipping into personal savings or using home equity credit is much too high-risk for […]
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