Is My Pet a Tax Write-off?
Wouldn’t it be nice if you could get a little help from Uncle Sam as well as a tax write-off for some of that pet food, vet bills, or even that big price tag at the breeder? Well, there might just be an option to save some taxes in the process.
Silent Partner – 3 SEC Compliant Ways to Bring One on
There comes a time in the lifespan of just about every business when the potential for substantial growth comes to fruition, and additional capital is necessary to make that growth happen. It’s at these moments you’ll probably start looking for people to invest in your business.
How to Write-off Your Clothing and Laundry Expenses and Not Lose Your Shirt
I often times get asked the question regarding the ability to write-off clothing and and laundry expenses.
Seller Financing and Installment Sales – What are the Tax Implications
With the difficulties that have arisen in the lending market and a typical buyer’s ability to obtain a standard loan, many sellers have decided to “carry their own paper”. For those unfamiliar with such a term, we are talking about Seller Financing where you play ‘bank’ and now you have the precarious reporting requirements with […]
Piercing the Corporate Veil and Protecting Yourself
Many small business owners who operate under a corporation or LLC have heard of the term “piercing the corporate veil,” but very few have a complete understanding of its meaning and implications. We set up entities for ‘protection’, but that protection is not automatic. We have to protect the corporate veil and maintain the company […]
Asset Protection Strategies for your Business – Part II
Now I want to discuss the liability created by our personal actions that could threaten our business or assets. I call this “Outside Liability”- Exposure created outside our business that could allow a creditor to take our business from us.
Hobby or Business? Avoid the Hobby Loss Rules
Like many of us, you’ve probably dreamed of turning your favorite pastime into a regular business. What better way to be passionate about your business and make money at the same time.
Can a Foreigner use an S-Corporation in the U.S.?
This is a common question we are asked on a regular basis and an important one. In fact, it tends be a common concern with Canadian clients doing real estate projects in the U.S. Here are some basics that can help you if you are a foreigner or investing with a foreign partner. Why an […]
