Posts by Bill Wortman
Consultant’s Corner: Investing Through a Business Entity
Q: I am interested in trading on the Nadex. I am concerned about giving out my private information in order to do the trading; what are the pros and cons of trading as a business (Corporation, LLC, etc.) vs. trading as an individual? Online Trading Security Of course, essentially every business that conducts activity online…
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Consultant’s Corner: Do I Need Disability Protection?
Q. I own and operate a successful one-man business. I worry about the possibility that I could be unable to perform work due to accident or illness. What can I do to prepare for this scenario? The two basic disability protection considerations for sole proprietors are personal income and keeping the business going. Other than…
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Consultant’s Corner: Tax Write-offs for a Single-Member LLC
Question: I am the owner of a single-member LLC and would like to know what I can write off on my taxes this year. An LLC is unique in that it can be taxed as a disregarded entity, partnership, C Corp or an S Corp. A single member or owner LLC can be taxed as…
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Consultant’s Corner: Dealing with a Chronically Late Employee
Q: I have an employee who constantly arrives late to work, even after being asked to come in on time multiple times. How do I handle this? Disciplinary Procedures Employers generally handle excessive tardiness in accordance with their employee attendance/absence policies and disciplinary policies and procedures when appropriate. If you lack written employee attendance/absence and…
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Consultant’s Corner: Tax Returns on Multiple Businesses
Question: I have three sole proprietor businesses. How do I file a tax return on each business? A sole proprietorship is an unincorporated business owned by one individual. While it is possible to operate multiple businesses under a single sole proprietorship, if the businesses are unrelated or dissimilar to one another, it is more common…
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Consultant’s Corner: Health Plan Affordability Thresholds
Q: Under the Affordable Care Act, if I offer a health plan to my employees, what are the implications of the 9.5% of employee income threshold? Our response assumes that your question refers to the safe harbor tests that can be used by applicable large employers (ALEs) under the Affordable Care Act or ACA to…
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Consultant’s Corner: Selecting a Business Entity for Real Estate Investing
Q. I own multiple rental properties. Should I form an LLC to protect our personal assets? It is common to hold rental properties and other real estate investment activities in an LLC or other business entity. Also, if you plan to have multiple investors in any of your property investments, the Limited Partnership structure is…
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Consultant’s Corner: Creating and Monetizing Podcasts
Q. What are the tools I need to create a podcast, and what are good podcasting platforms? Also, how can I monetize a podcast? Podcasts can be used to broadcast audio, video, PDF, or ePub files. To begin your research and evaluation of the industry, technical requirements, marketing and business resources, music licensing, and other…
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Consultant’s Corner: How to Use Apple Pay
Q: Can Apple Pay be implemented on websites, or is it just for payments at POS terminals? Apple Pay is Apple’s mobile payments service which allows iPhone 6, 6s, 6 Plus, 6s Plus, SE, and Apple Watch owners to make payments with their devices. Apple Pay is designed to allow iPhone 6, 6s, 6 Plus,…
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Consultant’s Corner: Search Engine Rankings
Q. We recently created a website for our business, but it is not showing up whenever we search for our business name on search engines. What can we do to improve our search engine rankings? Timing For a new website, it is important to note that it is can take a few weeks for search…
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