business partnership

Partnership

This week we are going to review the business structure of a partnership, the third in a series highlighting various business structures and which one is potentially most beneficial to you. Previously I’ve discussed Limited Liability Corporations and Sole Proprietorship.  Partnerships are created with another person in the same way you create a sole proprietorship; you simply need two or more people to start business … Continue reading Partnership

sole proprietor, small business

Sole Proprietorship

Last week, I reviewed the LLC (limited liability company).  Today I’m discussing sole proprietorship, the second in my series reviewing business structures and which one is best for your business. Sole proprietorship the most simple and therefore the most common structure used when starting a business. According to taxfoundation.org, as of 2014, there were approximately 23 million sole proprietorships nationally.  Other business structures like LLCs … Continue reading Sole Proprietorship

start up, LLC

Limited Liability Corporations

Starting a new business is exciting, but can also be very intimidating.  There is such a variety of legal classifications to consider when forming your business entity and it can be confusing to know which one is right for you.  Currently, two of the most popular small business structures are the Limited Liability Company (LLC) and the S Corporation (also called Subchapter S Corporation). There … Continue reading Limited Liability Corporations

allowance, piggy bank

Kids and Money

The lessons you teach your children about money will stay with them for their entire life.  What you teach them, and what you don’t teach them, can affect them well into adulthood. Do you know any adults that handle their money poorly?  Are you an adult that handles your money poorly?  Actions speak louder than words, and your children are paying attention. As parents, my … Continue reading Kids and Money

financial needs, trust

What to look for in a CPA

Great financial professionals are everywhere, but that doesn’t necessarily mean that he or she is right for your needs.  There is no such thing as a “one size fits all” accountant. Recently, I shared an article on Facebook and on Twitter:  11 Signs That It’s Time To Find A New Tax Professional.  It’s a good guideline about red flags you should look for when dealing … Continue reading What to look for in a CPA

expense, profit, budget, projection

Budgets and Projections

“Where does our money even go?”   I heard this recently from a friend who was having a difficult time sticking to a budget.  He can pay bills and cover expenses, but the thought of saving or planning for a financial emergency is completely out of the question.  This scenario plays out over and over in individual finances, but it also happens to businesses.  There … Continue reading Budgets and Projections