How To Save On Single Member LLC Taxes

By Matthew Dochnal November 8, 2022
single member llc tax

20% of small businesses fail in the first year according to the Bureau of Labor Statistics. One reason is that many business owners cut into their profits by simply failing to take advantage of tax deductions.  If you operate a single member LLC, you can save significantly on taxes – you just need to know […]

Continue Reading

Does My Delaware LLC Have To Pay Franchise Tax?

By IncNow October 24, 2022
franchise tax

If you’ve formed an LLC but haven’t done business this year, you may be wondering if you need to pay the Delaware franchise tax. Here’s what you need to know. What Happens If I Don’t Pay the Delaware Franchise Tax? If a company fails to pay franchise tax, it will eventually lose its good standing […]

Continue Reading

What Is an ITIN Number and Do I Need One?

By Matthew Dochnal August 30, 2022
individual tax identification number

The United States Internal Revenue Service (IRS) utilizes several different types of identification numbers. You are probably most familiar with Social Security Numbers, which are issued to all US Citizens. You may be less familiar with Employer Identification Numbers and Individual Tax Identification Numbers. The IRS uses these different numbers to distinguish between individual US […]

Continue Reading

Does My Delaware LLC Have To Pay Franchise Tax?

By IncNow April 26, 2022
franchise tax

If you’ve formed an LLC but haven’t done business this year, you may be wondering if you need to pay the Delaware franchise tax. Here’s what you need to know. What Is the Delaware Franchise Tax, Again? Franchise “Tax” is often misinterpreted to mean that the fee will be calculated based on profits or capitalization, […]

Continue Reading

Why the Delaware C Corp Is a Good Option for Startups

By IncNow February 9, 2022
C Corp

Delaware C corps are a popular choice for some companies due to their ability to attract investors. Startups in particular can benefit from a C corp tax designation, but it’s understandable to have questions about how, exactly, this works. Here’s what you need to know. How the Delaware C Corp Can Help Startups While every […]

Continue Reading

How to Become an LLC: 5 Steps

By IncNow August 11, 2020
5 steps

Becoming an LLC is an easy and inexpensive way to protect yourself from personal liability for business obligations. It’s definitely worth considering if you have your own business—even if that business is you.

Continue Reading

How Is an LLC Taxed?

By IncNow September 18, 2019
taxes

The Delaware LLC is the most popular type of legal entity amongst small businesses. A Delaware LLC provides bullet proof liability protection for business owners’ personal assets while avoiding the red tape involved with maintaining a corporation. Entrepreneurs prefer LLCs because they are flexible, cost effective, and easy to set up. Forming an LLC is […]

Continue Reading

How to Save on Single Member LLC Taxes

By IncNow July 19, 2019
single member llc tax

Most businesses end up cutting into profits simply by not taking advantage of the rules the IRS has laid out for them. The most susceptible to this common downfall is the sole proprietor or single-member LLC. It’s possible to save on single member LLC taxes—you just need to know the right steps to take. What is […]

Continue Reading