An LLC and an S-Corp are pass-through entities which are usually more tax efficient. For most small businesses in the country, those are the best ways to go. A C-Corp is usually for larger businesses who are raising a big amount of venture capital, and/or want to go public in the near future. One […]
Read MoreIf you’re earning income in the US, whether you’re a citizen or not, you usually need to file taxes in the US. It just becomes a question of what forms need to be filed and what exclusions and/or credits you’re entitled to. If you’re earning income on US soil, you generally need to file taxes.
Read MoreTrying to figure out whether you qualify for a 1040 or a 1040NR, you usually have to undergo something called the Substantial presence Test, which is explained at IRS.gov. You can always take a look at IRS.gov and see if you could figure it out yourself, or call the IRS, try to figure out, […]
Read MoreIt really depends on the audit that you get assigned and what they’re auditing but it can take anywhere from one month to six months. It really depends on the complexity of your return. I’ve seen sale tax audits take a couple of years sometimes. It really depends on the revenue, the volume of transactions, […]
Read MoreI think one of the biggest fears that prevents people from filing their taxes is they either don’t have the money to pay or they’re in a bad financial situation. It’s important that they know that they still have to file a return in order to avoid late filing penalties. Eventually you can always work out a […]
Read MoreWhen it comes to taxes, most people think of April 15th as the most crucial date to know. It’s even marked on most standard U.S. calendars as Tax Day! While this is the date that all taxes are due, there’s also another date to remember. For those who have filed an automatic six-month extension for […]
Read MoreThe best business formation for an internet-based business in New York City is an LLC, like most other businesses. This is true because of the way the city taxes work for C-corps and S-corps. Being an LLC will help you lower your city tax and lower your taxes overall. Let our expert New York City […]
Read MoreOne of the things we’re doing almost everyday is helping people convert from an S corp to an LLC in New York City. A lot of times people follow bad advice from a lawyer or their accountants and set up S corps without evaluating the whole New York City environment. We are able to help business owners […]
Read MoreWe are happy to offer that free 30-minute consultation in order to take a look at all your paperwork, information, financial statements. After the initial meeting we’re able to quote a flat fee for the tax return. Whether it’s corporation, partnership or individual that flat fee will not change. We will stick to it even […]
Read MoreTry to keep everything in a spreadsheet or document. Keep your documents organized. There are smart scanners that scan in receipts and add them to a spreadsheet – or do it by hand. If you organize every month, or every week, for just a few minutes, it will save you a lot of time and […]
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