EIN Lookup: How to Find Your Tax ID Number
EIN Lookup Guide: Everything you need to know about your EIN / Tax ID Number
"Help, I need to find my EIN number!" If this is you, no need to worry. In the guide below, we'll
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IRS Form 2553 Instructions: How to Fill Out Form 2553
What is IRS Form 2553?
IRS Form 2553 is designed for businesses that want to elect to become an S corp (typically from a C corporation, the standard corporation type).
The main reason for this
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How to Fill Out Your 1040: Form Schedule C Instructions
What is IRS Schedule C Form 1040?
Unlike an employee, when you’re self-employed, you need to track your own taxes.
That’s where Schedule C (Form 1040) comes in, which is used by any
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How Schedule K-1 Works: Schedule K-1 Explained
What is IRS Form Schedule K-1?
Schedule K-1 is a tax form issued by the IRS which is designed to report each partner’s share of: Earnings
Credits
And losses and deductions Schedule K-1 applies
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EIN Lookup: How to Find Your Tax ID Number
EIN Lookup Guide: Everything you need to know about your EIN / Tax ID Number
"Help, I need to find my EIN number!" If this is you, no need to worry. In the guide below, we'll
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How to Calculate Net Income Formula
What is net income?
Net income, or net profit, is one of the single most important business metrics.
Why? Positive net income is a sign of growth.
It means you have extra cash flow left
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Form 4562: Do I Need to File Form 4562? (with Instructions)
What is the purpose of Form 4562?
If you’ve made a new equipment purchase for your business over the past year, you’re probably looking to report that purchase on your taxes to make
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What Is the Section 179 Deduction: Does It Apply to You?
What is the Section 179 deduction?
Recently made a vehicle or equipment purchase for your business? Heard about Section 179 or simply looking for possible deductions for your purchase?
Section 179 is one tax deduction
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Profit Margin Formula: How to Calculate Profit Margin and Tips for Improving Your Margin
What is profit margin?
As a business owner, it’s important to not only know how much revenue your company is generating, but how much profit you’re actually making from that revenue.
That’s
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LLC vs. Partnership: What Is the Difference?
What is the difference between an LLC and business partnership?
Deciding on the right structure is an important first step in setting up your business.
If you’re going into business together, whether it’s
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The Complete Guide to Incorporating a Business: How to Incorporate or Convert Any Business Entity
What is incorporation?
Thinking of incorporating your business? Or are you just starting out and want to know what exactly a corporation is?
Corporations enjoy several significant benefits, from tax advantages to liability protection. Not
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Form 4868: How to Get an Extension on Your Personal Taxes
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Need to extend your 2019 personal taxes? Form 4868 is what you need.
Daily life is both busy and hectic. But when tax season comes around, things get even more complicated, and sometimes, downright
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Form 7004: How to Get an Extension on Your Business Taxes
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Need an extension on your business taxes? IRS Form 7004 can help.
Running a business is hard enough without having to worry about saving up to pay your taxes at the end of the
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1099 Employee: Everything You Need to Know
As a business owner, there are several ways you can choose to classify those who work for you. The two primary ways are as a 1099 or W2 employee. A W2 employee is what most
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W2 Employee: Everything You Need to Know
Chances are you've collected a W-2 before from a previous employer and know what it’s like being a traditional employee. As a new business owner, you might think you’re familiar with everything that
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Single Member LLC Defined
Excited to get to the fun stuff but bogged down figuring which business structure– single member LLC or sole proprietorship– is best for you? We break down both below to help make the decision clear
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How to Calculate Gross Profit Formula
What is gross profit?
If you’re just starting to dig into the accounting metrics of your business, gross profit is easily one of the most important of those metrics to understand.
Put it simply,
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The Ins and Outs of Depreciation
If you are searching for the depreciation definition you have come to the right place. We have funded thousands of businesses and know a thing or two about how depreciation works. As it seems like
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What Is Form 8821?
Similar to a power of attorney, but offering less authority in comparison, IRS Form 8821 authorizes a person or organization to both receive and receive a copy of filed tax returns and inspect a person’
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What is a UCC Filing?
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If you’ve recently reviewed your business credit report or have conducted a UCC filing search, you may have noticed a UCC filing on your report.
Why Do I have a UCC on My
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Self-Employed Health Insurance: Everything You Need to Know
So I recently had to get health insurance for me and my family and did not realize that there are great loopholes to help bring down the cost of you are self-employed so I decided
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Assets, Liabilities, and Equity: What They Are and Why They're Important
Knowing how to assess the financial health of your business is important. This starts at understanding assets liabilities & equity.
However, with so many different numbers, reports, and ways to look at those critical metrics
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Small Business Resources for Entrepreneurs
As an entrepreneur, it’s important to get your hands on every advantage available to help you succeed.
If you are reading this you should know that any resource is an edge of the competition
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How To Calculate an Amortization Schedule
Most business owners don’t fully understand the effects of long-term interest or how an amortization schedule works. As a result, they get locked into a loan and end up paying more interest than they
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2018 Small Business Tax Rate Guide
As a small business owner, it’s important to be able to gauge how much you’ll pay in taxes for the upcoming year.
The last thing you want is to go file
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What is a Fiscal Year ? Choosing Fiscal Year vs. Calendar Year for Your Business Taxes
As a business owner, you want to utilize every advantage available to maximize your success.
And one of the ways you can do that is by full understanding– and making a smart choice about– IRS
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What Is Debt-Service Coverage Ratio or DSCR?
As an entrepreneur, access to funds when you need it most is critical to the success of your business.
That’s why it’s important to understand everything you’ll need to improve your chances
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How to Prepare an Accounts Receivable Aging Report
An accounts receivable aging report, also known simply as an A/R report or aging A/R report,is used by many business owners who invoice their clients to keep track of what payments are
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S Corp vs. C Corp: Which Is Best for Your Business?
We know– deciding between being an S corp vs. C corp for a business entity is the last thing you have time for. Unfortunately, before your business can turn a profit (or file its taxes…)
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How to Prepare a Profit and Loss Statement : The basics
How to Prepare a Profit and Loss Statement: The basics
Imagine for a moment, that you went to a doctor to get a checkup.
Only they didn’t actually give you a checkup; they simply
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How long do credit inquiries stay on your credit score?
How Long Does a Hard Inquiry Stay on Your Credit Report - Everything You Need to Know!
Your credit is one of the most important assets you can have if you are from the US and
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How to Create a Balance Sheet - A simple Guide
As a business owner at one point in time or another, you have had to hear the word balance sheet when evaluating the strength of a business's financial health
A balance sheet is an important
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SS4 Letter - What is it and how to get a copy of yours
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When running a business it's important to understand what legal documents are crucial to keep on file one of the most frequently used is the SS-4 Letter.
When starting a new business the IRS
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