So if you’re raising capital for your business, depending on the procedure you’re following, the SEC requires you to treat potential investors in certain ways. Sometimes you can avoid looking for Accredited Investors.
Some have the goal to start their own charity. Create their own 501(c)3 or charitable organization. A project that they can control with a board of directors, have fundraisers and events, and maybe even do a little more to impact our society and those in need. I’m writing this article for those ambitious souls that want to start a legitimate non-profit charity.
Many of us immediately think of our personal or family situation when we prepare for a disaster, but not the for emergency preparedness needed for our business. These same disasters affect business owners and can create even greater hurdles for entrepreneurial families to get back on their feet.
Tax laws have changed even for RV owners. However, you can still potentially save state income taxes by changing your domicile, writing off the RV as a business expense, or even save money by cutting the cost of traditional home ownership.
The IRS consistently warns taxpayers to not get caught paying ‘employees’ as ‘sub-contractors’. But believe it or not, the IRS, may be the least of your worries. There are 7 deadly results that could occur by trying to call an ‘employee’ a sub-contractor when it’s truly not the case.
Partnerships are an amazing thing. So many businesses succeed because they are a partnership. However, if not properly structured and maintained, with lots of communication, they can destroy a business.
As a fellow parent with college age children, I certainly understand the pressure and stress college expenses can put on a family. I strongly encourage you to study the options above and see if they could possibly work in your situation.
The Health Savings Account is one of the most powerful pieces of a well designed health care strategy. It includes saving money, saving taxes, building a tax-free ‘bucket’ for health care and most importantly taking control of your own health care strategy.
Remember the good old days when you could write-off 100% your new SUV or Truck under the 179 deduction? That was the wild wild west (pre-2006), and then we all became quickly familiar with the $25,000 cap on writing off these gas guzzling vehicles. However, the game has changed with possibly an unintended loophole under the new Tax Cuts and Jobs Act (TCJA). The silver bullet: Bonus Depreciation.
Things have changed in 2018 when it comes to writing off meals and food expenses in your small business. Entrepreneurs, have to reevaluate their budget for the food and dining.