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Why You Need Form W-9 Now to Complete Form 1099 Later

1099 Filing Requirements Businesses have a responsibility to file Form 1099-MISC to all unincorporated businesses that they pay more than $600 to annually.  An unincorporated business is a sole-proprietorship, partnership or a Limited Liability Company (“LLC”).  In addition to having


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Why Some Small Businesses Should NOT be an LLC

The Limited Liability Company (“LLC”) certainly has become a popular form of business entity. If there is only one member (owner) then setting up these entities has become a breeze. Just go online, fill out some forms, pay the registration


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How a Small Partnership Can Get The Failure to File Penalty Waived

Face it, no one likes to get letter from the Internal Revenue Service (“IRS”). This is particularly true when you are being assessed a penalty. The IRS has many different penalties.  One penalty they have is the failure to file


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How to Form an LLC and Protect Your Assets

  A Sole-Proprietorship Many self-employed people will run their business as a sole-proprietorship. They are very easy to set up and cost very little to form. First, decide on a name. For example, John Jones D/B/A (Doing Business As) Prime


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