Monthly Archives: September 2010

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22 09, 2010

Tax Tips for New Business Owners

By | 2010-09-22T15:37:48+00:00 September 22nd, 2010|Blog, Business Advice, Our Services, QuickBooks, Tax|Comments Off on Tax Tips for New Business Owners

If you are planning to open a new business, there are a number of tax and accounting issues you need to be aware of. The following are some of the more commonly encountered issues a new business owner needs to cope with. 1. Entity Selection – First, you must decide what type of business entity you are going to establish. The type of business entity will determine which tax form you have to file. The most common types of businesses are the sole proprietorship, partnership, corporation, S corporation and limited liability company. This office can assist you in making that determination and setting up the chosen entity. Depending on the type of entity you choose, you may also need the services of an attorney to complete legal documents required to establish the business.

15 09, 2010

Tax Increases Are Coming Unless Congress Takes Action

By | 2010-09-15T15:09:19+00:00 September 15th, 2010|Blog, Our Services, Tax|Comments Off on Tax Increases Are Coming Unless Congress Takes Action

Normally, one would think that Congress would have to take some action to increase taxes. However, it is quite the opposite for 2011. If Congress fails to take action, there will be a tax increase affecting just about everyone in every tax category. In order to skirt a Senate rule that requires 60 votes to pass a bill that increases the deficit beyond a ten-year window, Congress passed the Bush tax cuts in 2001 and 2003 with most provisions designed to sunset this year.