Business Entity Selection

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Glossary: Partnership

By | January 24th, 2017|Categories: Glossary|Tags: , , |

A partnership is a business with two or more owners who conduct business and are not incorporated.

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Choosing a Business Entity: Wrap-up Post

By | January 18th, 2016|Categories: Small Business Tax and Accounting|Tags: , , , , , |

This series on choosing a business entity started last June and covered 10 parts. Here’s a listing, with links, of all the parts in this series.

Choosing a Business Entity: How Do You Decide?

By | January 14th, 2016|Categories: Small Business Tax and Accounting|Tags: , , , , , , |

There’s no magical checklist for deciding on a business entity. But here are a few considerations.

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Choosing a Business Entity: LLC

By | January 4th, 2016|Categories: Small Business Tax and Accounting|Tags: , |

An LLC is a “limited liability company.” Note the “C” stands for “company” and not “corporation.” LLCs are legal entities formed under state law.

Choosing a Business Entity: Determining S-corporation Reasonable Salary

By | December 11th, 2015|Categories: Small Business Tax and Accounting|Tags: , , |

What is a reasonable salary for a corporate owner? This is hard to answer because tax law and the IRS provide no formal definition of the term “reasonable.”