You’ve probably already heard about an Employee Identification Number (EIN) if you’re self-employed. Instructions for starting your own business commonly advise you to complete paperwork like obtaining the appropriate licenses and insurance, along with obtaining an EIN online.  Certain businesses may be required to obtain an EIN before they can legally operate, which is generally […]

You’ve probably already heard about an Employee Identification Number (EIN) if you’re self-employed. Instructions for starting your own business commonly advise you to complete paperwork like obtaining the appropriate licenses and insurance, along with obtaining an EIN online.  Certain businesses may be required to obtain an EIN before they can legally operate, which is generally […]

Businesses of all sizes can utilize an EIN. Most will be required to obtain an EIN (FEIN), but a smaller percentage of business owners can elect to use their SSNs instead. However, there are many benefits for all businesses to obtain an EIN, even if not required under federal or state tax laws. Whether or […]

Businesses of all sizes can utilize an EIN. Most will be required to obtain an EIN (FEIN), but a smaller percentage of business owners can elect to use their SSNs instead. However, there are many benefits for all businesses to obtain an EIN, even if not required under federal or state tax laws. Whether or […]

Tax-paying entities must associate their tax returns with a unique identifier, such as a tax ID or Employer Identification Number (EIN), when filing their returns. In the case of individuals, this is usually their Social Security Number (SSN), but organizations typically use an EIN. This guide explores how tax IDs and EINs work and why […]

Tax-paying entities must associate their tax returns with a unique identifier, such as a tax ID or Employer Identification Number (EIN), when filing their returns. In the case of individuals, this is usually their Social Security Number (SSN), but organizations typically use an EIN. This guide explores how tax IDs and EINs work and why […]

Coffee shops are a great business model offering entrepreneurs terrific opportunities. You can open a café, franchise an existing brand (e.g., Dunkin’), operate a mobile coffee shop, or lease a kiosk or small space in areas such as hotels, malls, or other locations to sell coffee. The coffee market in the U.S. is profitable and, […]

Coffee shops are a great business model offering entrepreneurs terrific opportunities. You can open a café, franchise an existing brand (e.g., Dunkin’), operate a mobile coffee shop, or lease a kiosk or small space in areas such as hotels, malls, or other locations to sell coffee. The coffee market in the U.S. is profitable and, […]

Freelance writing is a growing industry. According to the Bureau of Labor Statistics, this job niche is expected to grow 4% through 2032, which is at an average rate when compared to other types of jobs. While freelance writers are most often independent contractors, like any other type of occupation, they need to pay taxes […]

Freelance writing is a growing industry. According to the Bureau of Labor Statistics, this job niche is expected to grow 4% through 2032, which is at an average rate when compared to other types of jobs. While freelance writers are most often independent contractors, like any other type of occupation, they need to pay taxes […]

An estate is a legal entity formed at the time of an individual’s (“decedent’s”) death and consists of all assets. Essentially, an estate equates to an individual’s net worth, which is distributed upon a person’s death. This includes, but is not limited to personal property, real estate, motor vehicles, boats, cash, and other items of […]

An estate is a legal entity formed at the time of an individual’s (“decedent’s”) death and consists of all assets. Essentially, an estate equates to an individual’s net worth, which is distributed upon a person’s death. This includes, but is not limited to personal property, real estate, motor vehicles, boats, cash, and other items of […]

A challenge all business owners face is failing to correctly file their taxes and not knowing their tax liabilities. In fact, many owners suffer anxiety and stress over it. Aside from the complexities of doing taxes, there is the issue of errors. Making tax mistakes can come with significant consequences, such as audits, fines, and […]

A challenge all business owners face is failing to correctly file their taxes and not knowing their tax liabilities. In fact, many owners suffer anxiety and stress over it. Aside from the complexities of doing taxes, there is the issue of errors. Making tax mistakes can come with significant consequences, such as audits, fines, and […]

Many new business owners often ask themselves, “What is tax liability?” In basic terms, tax liability is money business owners must pay to the IRS, state tax collection agencies, and (if applicable) local tax agencies each year. Like personal taxes, business taxes must be paid by specific deadlines. It’s common for business owners to seek […]

Many new business owners often ask themselves, “What is tax liability?” In basic terms, tax liability is money business owners must pay to the IRS, state tax collection agencies, and (if applicable) local tax agencies each year. Like personal taxes, business taxes must be paid by specific deadlines. It’s common for business owners to seek […]

Filing tax returns can quickly become quite complex, especially if you run a business. An important aspect of filing taxes is to know when and who you can claim as a dependent on your tax return. Dependents can help reduce your tax obligation and often allow you to claim a tax credit. In this post, […]

Filing tax returns can quickly become quite complex, especially if you run a business. An important aspect of filing taxes is to know when and who you can claim as a dependent on your tax return. Dependents can help reduce your tax obligation and often allow you to claim a tax credit. In this post, […]

Small business owners spend much of their time wearing many hats. Aside from ensuring operations are functioning properly, they must also think of important tasks not related to day-to-day business, such as their business and personal taxes. For many small business owners, the two are entwined. Tax season has just wrapped up, but it is […]

Small business owners spend much of their time wearing many hats. Aside from ensuring operations are functioning properly, they must also think of important tasks not related to day-to-day business, such as their business and personal taxes. For many small business owners, the two are entwined. Tax season has just wrapped up, but it is […]