Blogs: LLC and Business Formation

Business Funding Tips March 28, 2024

Understanding Tax Debt: How It Works and What You Can Do to Resolve It

What Is Tax Debt Relief? Tax debt relief refers to strategies and programs designed to reduce or eliminate the amount owed to the IRS by taxpayers who cannot fully pay their taxes. This can occur for various reasons, including financial hardship, unexpected life events, or errors in tax filing.  The primary goal of tax debt […]

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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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Taxes March 23, 2024

 If I Amend My Taxes, Will I Be Audited? A Guide to Tax Audit Triggers

Accurate tax returns are vital to maintaining good standing with the IRS. But there’s no need to panic if you’ve made an error on your deductions or income. You can amend your returns using Form 1040X. While it’s perfectly normal to be concerned about attracting unwanted attention from the IRS, many misconceptions about amended returns […]

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Business formation March 22, 2024

Simple Steps on How to Get an LLC for Your Business

An LLC—or Limited Liability Company—is a type of business wherein the owners are not personally liable for the debts and losses of the organization. It’s perfect for business owners who want to separate their company assets from personal ones via pass-through taxation. Today, we’ll go through the simple steps of the LLC formation process. Keep […]

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Business formation March 21, 2024

How to Set up a Living Trust: A Quick & Easy Guide to Estate Planning

What Is a Living Trust? Also known as a revocable trust, a living trust is a legal document that holds your assets during your lifetime and designates a trustee to manage them on your behalf.  Unlike a will, a living trust allows you to maintain control over your assets during your lifetime while also simplifying […]

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