Tag Archives: LLC


Great Leaders Are Boring

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Leader is a pretty grandiose word We apply it to some of history’s greatest humans from Martin Luther King Jr. to Abraham Lincoln and honor these legendary leaders with libraries worth of laudatory books, national holidays, and very large statues. So no wonder when aspiring business owners attempt to burnish their leadership ability, they often […]

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LLC Tax Filing Rules

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Immediately after you create a Limited Liability Company, or LLC, the IRS automatically treats your business as a partnership, but only for income tax purposes. LLCs that are subject to the partnership tax rules are not responsible for actually paying the tax on business earnings, but are responsible for preparing annual partnership tax returns on […]

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Reducing Your Self-Employment Taxes

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If you’re self-employed, you’ll usually have to pay higher Social Security and Medicare taxes, collectively known as self-employment taxes, than if you were an employee of a company. One way to help avoid these higher taxes is to organize your business as an S-corporation. Whether you’re self-employed or an employee, you’ll have to pay Social […]

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Plan for Failure, Not Success

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Starting three companies — two of which didn’t take off the way I envisioned — taught me that while entrepreneurs should dream big, it’s essential that we also plan for failure. More than 90 percent of startups fail. And recognizing this right off the bat will prepare you intellectually, emotionally and financially, if your venture […]

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First-Time Business Tax Filing

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As a new business owner, taxes are probably the last thing on your mind. But since there’s no getting around them, here is some basic information about the forms you’ll need to file as a new business owner. In general, the form you must use to file your business taxes is determined by the type […]

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