How to File an S Election: A Step-by-Step Guide

How do I file an S election? If you want to make the S corporation election, you need to file IRS Form 2553, Election by a Small Business Corporation. If you file Form 2553, you do not need to file Form 8832, Entity Classification Election, as you would for a C corporation. You can file … Read more

Can a Defunct Company be Sued? Exploring Legal Options

Can a defunct company be sued? Suing a dissolved corporation is possible because the company still legally exists. Dissolution is only the first step. Regardless of the legal structure of your business, you must follow the proper procedures. DBAs and sole proprietorships have fewer steps to follow but are not immune to lawsuits. Read more … Read more

Can Life Coaching Be a Business Expense?

Can life coaching be a business expense? In most countries, self-employed individuals and companies can deduct professional development, education and consulting fees. That is why life coaching cannot be considered as a tax-deductible service, after all. If you want to avail from a tax deduction, you must work in the realm of the business coaching … Read more

Is a Series LLC a Separate Legal Entity?

Is a series LLC a separate legal entity? Each series is not a separate entity, it is merely a separate container. If done properly, though, from an asset protection standpoint, it accomplishes a similar goal of shielding the assets of an individual series from the other series or master (parent) LLC. Read more on cenkuslaw.com … Read more

Transferring Your LLC to a Family Member: Everything You Need to Know

How do I transfer my LLC to a family member? How to Sell Your LLC and Transfer Complete Ownership Review your Operating Agreement and Articles of Organization. Establish What Your Buyer Wants to Buy. Draw Up a Buy-Sell Agreement with the New Buyer. Record the Sale with the State Business Registration Agency. Read more on … Read more

Is House Sitting Tax Deductible?

Is house sitting tax deductible? If you have a home office as your primary base, every trip is tax deductible, including the first and last pet visits of the day. The IRS allows you to deduct pet sitting business expenses for a home office if the space is used exclusively for business, whether you own … Read more

Arkansas Certificate of Good Standing: Everything You Need to Know

What is Arkansas certificate of good standing? An Arkansas Certificate of Good Standing (CGS) proves that your business exists, is registered with the state, and operates in compliance with the state’s legal requirements. The certificate bears the seal of Arkansas’s Secretary of State (SOS). Read more on www.zenbusiness.com A legal document known as a “Arkansas … Read more

Is a Business Name Available in Idaho?

Is a business name available in Idaho? How do you reserve a business name in Idaho? Businesses can reserve a name for up to 4 months through the Secretary of State. There is a $20 filing fee and that must be included with the Idaho name reservation form. Read more on www.chamberofcommerce.org A critical first … Read more

Mexican Markets: A Guide to Traditional Shopping

What are Mexican markets called? Read more on en.wikipedia.org Mexico is renowned for its vivacious culture, extensive history, and mouthwatering cuisine. A trip to a Mexican market is one of the best ways to take in all of these things at once. These marketplaces, or “mercados” as they are known in Spanish, are an essential … Read more