News & Advice

What Are The Disadvantages Of A Single-member LLC?

A Single-Member Limited Liability Company (LLC) has several advantages, but it also comes with some disadvantages, including: Limited Liability Is Not Absolute: While an LLC provides limited liability protection, it's not absolute.…

July 16, 2023

business management

What Are The 3 Main Management Styles?

There are several management styles, but three of the main management styles often discussed in the context of leadership and management are: Autocratic Management: In this style, the manager or leader makes…

July 16, 2023

LLC, taxes

Does An LLC Get 20% Deduction?

Yes, some businesses structured as Limited Liability Companies (LLCs) may be eligible for a 20% deduction under the Qualified Business Income Deduction (QBI) provision of the Tax Cuts and Jobs Act (TCJA).…

July 16, 2023

business management

Can I Use A Separate Personal Account For Business?

While it's generally advisable to maintain separate bank accounts for personal and business finances, it's not illegal to use a personal account for business purposes, especially if you're a sole proprietor. Here…

July 15, 2023

business management

What Are The 21 Common Types Of Management?

There are various types of management approaches and styles used in different organizations and contexts. While there may not be exactly 21 "common" types of management, here are 21 management approaches, styles,…

July 15, 2023

business management, personal finances

Should I Have A Separate Business And Personal Bank Account?

Yes, it is generally a good practice to have separate bank accounts for your business and personal finances. Here are several reasons why it's beneficial to keep these accounts separate: Legal and…

July 14, 2023

services

What Is Covered Under Professional Services?

Professional services encompass a wide range of specialized services provided by professionals, experts, or professional service firms. These services are typically designed to assist businesses, organizations, and individuals in various aspects of…

July 14, 2023

LLC

Should You Pay Yourself In Single-member LLC?

In a Single-Member Limited Liability Company (LLC), you can pay yourself, but the process and method for doing so should be clearly defined, documented, and compliant with tax regulations. Here are some…

July 13, 2023

services

What Does Professional Services Cover?

Professional services cover a wide range of specialized services provided by professionals, experts, or professional service firms to assist businesses, organizations, and individuals in various aspects of their operations, decision-making, and problem-solving.…

July 13, 2023

quickbooks

Who Needs A 1099 In Quickbooks?

In QuickBooks, a 1099 form is typically generated for individuals or entities who have received payments for services or non-employee compensation totaling $600 or more during the tax year. These payments may…

July 12, 2023

What Are The Disadvantages Of A Single-member LLC?

What Are The 3 Main Management Styles?

Does An LLC Get 20% Deduction?

Can I Use A Separate Personal Account For Business?

What Are The 21 Common Types Of Management?

Should I Have A Separate Business And Personal Bank Account?

What Is Covered Under Professional Services?

Should You Pay Yourself In Single-member LLC?

What Does Professional Services Cover?

Who Needs A 1099 In Quickbooks?

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