tax tip

Why you should switch to S Corp

Why you should switch to S Corp

When starting a business, there are two ways you can become official. You can incorporate as a corporation or you can form an LLC. Many people usually go with the LLC . Sometimes because they haven’t mapped out their business goals, sometimes because LLC is easier to maintain, they just want to get started and be official or someone simply told them to get an LLC.

There are different entity structures you can pick based off the way you choose to run your business. However, an LLC is the most common business structure. What many have found is, once they start making a nice profit in their business, the taxes owed become rather much.

3 Accounting tips to reduce Tax Liability

3 Accounting tips to reduce Tax Liability

Reducing your tax liability comes down to planning. There is no other way around this. There are specific things you have to do in order to take advantage of reduce taxes. I will cover a few things today, but let me start off by saying you will need to keep GOOD and ORGANIZED records.