Ongoing Management and Protection

As a 501(c)(3) nonprofit, an organization does not have to pay federal income tax on its profits related to its business purpose. That’s an important advantage as it allows organizations to keep more of their profits and use them to further their causes. However,...

The Arkansas Secretary of State requires some business entities to report and file Annual Franchise Tax each year. The Annual Franchise Tax is a privilege tax that limited liability companies (LLCs) and corporations must pay for the opportunity to conduct business...

What Is Piercing the Corporate Veil? Businesses that are registered as limited liability companies (LLCs) or corporations provide their owners with protection against being held personally liable for the company’s debts and claims. That legal shield of separation...

If you haven’t yet applied for an Economic Injury Disaster Loan (EIDL), you have until December 21, 2020 to submit your application. There is no need to apply again if you’ve already applied, as the loans are vetted on a first-come-first-serve basis. At the latest...

Owning investment properties can be exciting and lucrative. However, investments in real estate, whether vacation rentals, long-term rentals, or properties for resale, can also create liabilities. That's why it's critical for real estate investors to wisely choose...

In 2020, the hot topic is California’s Assembly Bill 5, often called the “Gig Economy Bill.” This is because AB 5 makes it difficult to be an independent contractor in California. Before we examine AB 5 in detail, let’s understand why California legislators passed...

Normally, at this time of year, you might find yourself scrambling to file your Florida annual report by the May 1st deadline. A business’s annual report confirms or updates a company’s information in the Florida Division of Corporations' records. The State...

By now we have all at least heard about the Economic Injury Disaster Loan and the Paycheck Protection Program enough to know what the acronyms EIDL and the PPP stand for.  Even the infamous Pandemic Unemployment Program aka the PUA has become part of our daily...

What is an LLC-5? The LLC-5 is a California State form used when a domestic limited liability company formed in another state (or country) wishes to become a foreign limited liability company in California.  The official name of Form LLC-5 is “Application to...

Whether you work as an independent contractor or your business hires independent contractors, California’s new AB5 law, which went into effect January 1, 2020, forces your hand on becoming an employer or an employee depending on how you conduct your business. The...

Entrepreneurs who want to sell their products through Amazon’s marketplace face many of the same opportunities and challenges as brick-and-mortar stores. Naturally, they have a lot of questions about launching and running an online business. It’s exciting to think...

Tax season comes to all businesses big and small, and can be a headache no matter how well you think you’ve prepared. For a small business owner wearing many (or all) hats in the business, it’s an unwelcome extra task sure to cause late hours and frayed nerves. To...

It seems that everyone on Instagram is an Entrepreneur or CEO. What used to be a high risk and scary choice, has now been glamorized into fast money, luxurious lifestyles, and ready-set-go businesses. A picture is worth a thousand words, but the stories behind the...

If you’re like most entrepreneurs, you frequently get the urge to change the way you do things and replace them with new systems and fresh ideas. After all, spring is the time for new beginnings, and your accounting firm operations could probably use a bit of a...

In the past, it seemed pivotal that an entrepreneur have a brick and mortar or office location for their business. If they were unable to afford or secure one, many people would abandon their business dreams altogether. Luckily, this has changed, as more and more...

Are you distancing yourself from relationships, feeling a loss of personal accomplishment or just overall suffering from emotional exhaustion? You could be on the dangerous road to CPA burnout. Whether your accounting firm is just starting out or growing by leaps...

Every single business owner goes through periods where they've lost their oomph. Sometimes, it's due to a struggling business. Perhaps that growth curve has stagnated (or flatlined) or the feedback you're getting is that your product is all wrong. Perhaps your team...

Although Valentine's Day has passed, it doesn’t mean the time has expired for us busy business owners to show our family and friends we love them. Building and nurturing relationships never goes out of season. And now more than ever, with the divide among people...

Small business owners may be new to the phrase professional employer organization, but PEOs have been around now for several years and changing the face of human resources management. According to the National Association of Professional Employer Organizations...

Hiring the right people requires a sure-fire interviewing process. To effectively interview job candidates, you need more than a little dedicated time and a list of questions; you need an understanding of how you can draw out the information you need about an...

Hiring the right people to be part of your team can greatly affect your business’s ability to succeed. It’s an important process—and a tricky one! When considering job candidates, you need to be careful or you could find yourself facing legal problems. If at any...

As a business owner, it’s exciting to hire employees and watch your company grow. But there are legal risks if you give job candidates and employees reason to believe your staffing decisions and policies are discriminatory. The first step in avoiding a job...