Have you ever given someone a ride to the airport, delivered food, rented out your house, or taken on freelance work through an online platform? The gig economy, also known as the sharing or on-demand economy, is transforming how millions of people work. But what exactly is it, and what should you know if you're part [...]
A limited liability company, or LLC, is a business structure created under state law that is separate from its owners, who are called members. In most cases, LLC members are not personally responsible for the business's debts and liabilities for federal tax purposes. An LLC can be treated in different ways, depending on the number of [...]
A partnership is when two or more people come together to run a business and share in the profits and losses. Each partner may contribute money, property, or services to the business, and then share in any profits or losses. In a partnership, power is shared between the partners. Partners usually have unlimited liability, unless an [...]
This Memorial Day, we honor those who paid the ultimate price to protect our freedoms. "All gave some; some gave all." We are truly grateful for your service and sacrifice. Click here or on the image above to watch a moving video.
An S corporation is a business that elects to pass income, losses, deductions, and credits through to its shareholders for federal tax purposes. The S corporation generally doesn't pay income tax. Instead, the income passes through to the shareholders, who report it on their individual tax returns. To be treated as an S corporation, a business [...]
