Transforming your hobby into a profitable business can be accomplished when you do your due diligence and get your legal ducks in a row.
Through the years, I’ve learned a lot about sourcing goods and materials from overseas. While it does take some finesse, I can tell it you that it’s well worth the effort.
With launching a new company comes the need to make many decisions. Among them: choosing a business structure. The type you select for your startup affects far more than whether or not your company’s name includes something like “LLC” or “Inc.” at the end of it.
As a freelancer, you may have heard that forming an LLC provides liability protection. While this is true, it is not an impenetrable shield.
While deductions reduce your taxable income, tax credits reduce the tax you owe on a dollar-for-dollar basis.
16 Steps to Starting a Business While Working Full Time — STEP 8: Business Licenses, Taxes and Insurance
In step 8 of the “16 Steps to Starting a Business While Working Full Time” eBook, we will cover business licenses, taxes and insurance.
Deducting business expenses on your taxes is one of the major perks of being a small business owner. But what if your business just started this year?
Do you know what documents you'll need to do your taxes? Did you claim all possible deductions and tax credits? Did you hire employees or independent contractors?
Do you know about the Protecting Americans from Tax Hikes (PATH) Act? The law includes tax breaks that could help when it comes to purchasing equipment, hiring employees and more.