by Maya Weinreb | Aug 12, 2020 | Payroll
That depends on your business tax structure. If you are a sole proprietor or an LLC, you don’t have to pay payroll unless you start hiring people to work for you. In that case, you get an EIN (Employer ID Number) from the IRS and then pay them on the payroll.On...
by Maya Weinreb | Aug 6, 2020 | Deductions
Business owners sometimes forget to deduct many business expenses. If you work from home for instance, and currently a lot of people do, you can take home-office deductions. A home office expense is calculated either by the number of rooms or by the square footage...
by Maya Weinreb | Jul 29, 2020 | Corporations
If you’re asking whether you should incorporate, understanding the LLC vs S corp benefits is essential before making a decision. That depends on where you are at with your business. If you just started a company, you don’t need to worry about that, yet. If you...
by Maya Weinreb | Jul 15, 2020 | Bookkeeping
Bookkeeping is important because you really can’t manage a company without tracking your finances. If you didn’t know how much money was coming in or going out, you would never be able to make smart financial decisions. You also would never know how much...
by Maya Weinreb | Jul 10, 2020 | Bookkeeping
Bookkeeping is essentially a very broad word that means “the tracking of everything that happens in your financial books.” Bookkeeping started when monks kept records in books a long time ago. Every time money came in, they entered the income in one account book, and...
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