Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. If you’re a small business owner or entrepreneur, it’s important to understand how corporations get taxed. The Internal Revenue Service (IRS) taxes corporations on their profits instead of the income they pass through to shareholders. In this article, …
Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. If you’re interested in starting a charitable organization, you’re most likely wondering whether it makes sense to operate as a nonprofit corporation or not. Some charitable organizations will find that the corporate structure makes perfect sense. For others, …
Advantages and Disadvantages of Nonprofit Corporations Read More »
Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. Do you have a cause you believe in and are considering forming a nonprofit organization? If so, you might feel confused about the differences between nonprofit and for-profit businesses. This article will help you understand everything you need …
Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. Finding a name for your LLC can be creative and free-wheeling, but it’s also beyond important that you get it right. Strokes of genius are certainly possible. That doesn’t mean the naming process won’t have procedures to follow, …
Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. We all know that running a business is hard work. It’s also stressful when the time comes to shut down operations for good. Owners need to make sure to correctly and legally dissolve their LLC before closing its …
Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. As you embark on your entrepreneurial journey or business venture, you must decide on the ideal business structure. There are a lot of choices to accommodate different needs. Let’s dive into what you need to know about each …
Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. Isn’t it amazing how many items you need to learn about after forming your company? You need to figure out the operating agreement, corporate bylaws, and the shareholders’ agreement, among other documents. While your company’s corporate bylaws are …
Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. Have you heard about corporate bylaws and feel a little confused about what the topic is all about? Your corporation’s bylaws represent a legal document that regulates the company’s day-to-day functions. Use these rules to help run your business …
Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. Setting up an LLC or corporation comes with a requirement to maintain the proper company records. You’ve probably come across corporate kits during your corporation or LLC research. Many business formation companies offer corporate kits when you use their …
Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. Owning a Limited Liability Company (LLC) comes with many demands. One of the things you have to be aware of is the tax obligation. According to the Internal Revenue Service (IRS), LLCs should issue Schedule K-1 each year. …
What Is a K-1 and Does My LLC Need to Issue One? Read More »
