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How to Choose A Business Entity Type – Part 1

Posted in Small Business on June 17, 2021

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT.   Choice of Business Entity We are frequently asked by clients starting a business, what type of entity they should be.  Here we will address Sole Proprietorships…

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

Posted in Tax News on June 16, 2013

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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How to Form an LLC and Protect Your Assets

Posted in Tax News on March 17, 2013

  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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5 Easy Steps to File Your 1099’s….Guaranteed

Posted in Tax News on January 6, 2013

It’s time for business owners to file their 1099’s. Here are 5 Easy Steps to do this: 1) Determine who you will be Required to File a 1099 For Form 1099 is due to any independent contractor who is unincorporated…

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

Posted in Tax News on December 17, 2012

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…

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