Blog Archives

6 Reasons Small Business Owners Should Meet With Their CPA Before Year-End

There are a host of reasons small business owners should meet with their CPA.  Here are 6 of them:   1) Method of Accounting Smaller business can usually file their tax returns on the cash basis of accounting.  The taxable


Tagged with: , , , , , , , , , , , , , , , , , , , , , , , , , ,

The Difference Between a C Corporation and a Subchapter S Corporation

Business owners can maintain their corporation as a regular or “C” Corporation. Alternatively, if they are eligible, they may want to make a Subchapter S Election. Both are treated as separate legal entities. Here are the differences however: C Corporation


Tagged with: , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

The Biggest Loser….The Self-Employed in Connecticut

The Biggest Loser is a TV show where contestants attempt to lose the most weight for cash prizes. Full Disclosure: I don’t watch the show and I have only seen short clips of it. I don’t proclaim to fully understand


Tagged with: , , , , , , , , , , , , , , , , , , , , , , , , ,

Why a Growing Business Should Elect Subchapter S Filing Status

The primary reason to make the Subchapter S filing status election is to have a single federal income tax when the business is eventually sold.  If the corporation is not an S corporation and the company assets are sold, there


Tagged with: , , , , , , , , , , , , , , , , , , , , , ,