Financial Planning
Get legal advice on how to take control of your personal or business finances, whether you're tackling student loans, medical bills, taxes, or bankruptcy.
-
Are LLC Startup Expenses Tax Deductible?
The expenses you incur as you set up your LLC are tax deductible, though you need to know important limits, exceptions, and rules to legally deduct these costs.
· 2 min read
-
Got Debt? Stop Creditors from Harassing You with These Legal Tips
While having some debt can be good, having too much debt can be disastrous. While you will have to deal with the bills, these tips can help you avoid being harassed and help you maintain some sanity when the bill collectors come calling.
· 3 min read
-
How to Organize Business Expenses: 7 Important Steps
Wondering how to organize your small business expenses? These categories can help you budget and analyze your performance as well as make tax time easier.
· 7 min read
-
How to Avoid a Tax Audit
Here are some steps you can take to reduce your chances of being chosen for a tax audit.
· 7 min read
-
What Is a FEIN, and How to Get Your Federal Tax ID Number?
Starting a new business or changing an existing one? Here's a guide to how to apply for a federal tax ID number, how long it takes to get one, why you might need one (and when you don't), and when you'll need to get a new FEIN for your business.
· 7 min read
-
Should I Publish an Annual Report?
Annual reports are not only beneficial to large, publicly traded corporations. Armed with an understanding of what an annual report can accomplish, small businesses stand to gain similar benefits by publishing annual reports of their own.
· 3 min read
-
Gross vs. Net Income: What Is the Difference?
Are you a new small business owner looking to understand your tax return a little more? How are gross and net income related? Here are the definitions of various types of income and how they related to your small business' taxes.
· 4 min read
-
Do I Need a Profit and Loss Statement if I'm Self-Employed?
Are you a self-employed individual who's not that concerned about financial statements? There is one financial statement you'll definitely need for federal and state tax purposes: the profit and loss statement the IRS requires from sole proprietors.
· 3 min read
-
What Is Gross Profit?
Gross profit is a key profitability figure for a small business. It's calculated by subtracting cost of goods sold from sales revenue. Here's how you can use gross profit, and the gross profit margin, to measure your business' production efficiency.
· 3 min read
-
What Is Cost of Goods Sold and How to Calculate It
Your cost of goods sold (COGS) consists of all the direct costs associated with producing your goods or services. Calculating costs of goods sold helps you determine the true cost of the merchandise or services you sell.
· 4 min read
