Don’t Make These Common Tax Mistakes!

Taxes are one of the most complicated tasks for small business owners, and it isn’t hard to make mistakes—even big ones. Small business tax specialist Gail Rosen shares some of the most common mistakes small business owners make with their taxes, and how to avoid them, including correctly classifying employees and contractors, deducting startup costs, […]

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Do You Need Outside Help with Payroll?

A small business owner has to wear a lot of hats. Early on, one of those hats is often for handling payroll. You may think that as long as the business is small, with just a couple employees, payroll is something you can take care of on your own. But when should you look at […]

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Consultant’s Corner: Business Entity Selection

Question: “How should I go about choosing a business entity type?” Many small businesses are structured as unincorporated sole proprietorships and General Partnerships due to their formation and maintenance simplicity and costs; however, the primary disadvantage with a sole proprietorship or General Partnership is that it is not a separate legal entity, even when it […]

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Consultant’s Corner: Maximizing Your Credit Score with a Balance Transfer

Q. How does shifting debt from one credit card to another and reducing the credit utilization impact your overall credit profile and credit score? Will it increase, decrease, or stay the same? Credit card utilization is one of the most important factors credit scoring models use to calculate one’s credit score. Generally speaking, there is […]

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Get Your Invoices Right

A mistake on your invoices can create major headaches—delayed payments that hurt your cash flow, an unprofessional image that damages your brand, and more. So getting this step right is very important for your business—you’ve presumably done a great job on the project you were hired for, so now is the time to close this […]

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Consultant’s Corner: Starting a Nonprofit Association

Q: I wish to start an “unincorporated nonprofit association” as a nonprofit enterprise to help disabled veterans. What steps should I take and what are the limits of an “association” rather than a 501[C](3) nonprofit organization? These informal groups are called unincorporated associations. The advantages of being an unincorporated association is that there are (generally) […]

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