Experts March 26, 2024

Powers of Attorney for LLCs: What Is It and When Will You Need One?

Running a limited liability company (LLC) involves various legal responsibilities and decision-making processes. As a business owner, you have the authority to make choices on behalf of your LLC. However, there may be instances where you cannot personally handle these matters due to illness, travel, or a busy schedule. In such cases, a Power of […]

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Business Funding Tips March 25, 2024

A Beginner’s Guide to Understanding & Preparing an Income Statement

But how do you make sense of it? This guide will walk you through preparing an income statement, its components, and its significance in financial reporting. What Is an Income Statement? Also known as a profit and loss statement (P&L), an income statement is a financial document that summarizes a company’s revenues, expenses, and profits […]

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Business formation March 20, 2024

All About Business Patents: How Long Does It Take to Get Approved?

However, the road to patent approval can be lengthy and complex, with plenty of obstacles. This begs the question: how long does it take to get a business patent granted? What Is a Patent? A patent is a legally granted exclusive right that gives inventors the authority to protect their intellectual property. This protection can […]

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Business Funding Tips March 15, 2024

Eight Efficient Tax Planning Tips for New LLCs

As a pass-through entity, LLCs don’t have to pay corporate taxes. Instead, everything they earn and lose goes to their owners, who must report it in their tax returns.  This status lets them lower their tax liabilities effectively. But what if you want to save more money and maximize the tax benefits of your new […]

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Business Funding Tips March 14, 2024

An Easy-To-Follow Guide to Opening an Estate Bank Account

What Are the Benefits of Having an Estate Bank Account? Effective Asset Management Let’s assume a deceased individual owns several bank accounts, a rental property, and a diverse investment portfolio. Without an estate bank account, their beneficiaries would need to be able to access and manage these assets.  With a dedicated estate bank account, the […]

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