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Category Archives: Choice of Entity
Schedule Cs in the IRS’ Bull’s-eye
Schedule C is the form that unincorporated sole proprietor businesses use to report their income and expenses as part of their individual tax returns. Schedule Cs have been center stage in recent IRS “tax gap” estimates. The tax gap is … Continue reading
Posted in Choice of Entity, IRS Tax Problems, Tax audits
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LLCs Explained – A 101 for Small Business Owners
So many myths, misconceptions, and rumors abound about the benefits, disadvantages and requirements of being a limited liability corporation (LLC). Yes, becoming an LLC can provide legal protection and operational ease, but depending on your circumstances it can also present … Continue reading