posts under Accounting category
The IRS allows you to correct mistakes on a tax return you’ve already filed by filing an amended tax return. If you make a mistake on a tax return...
Comparing an LLC to a Corporation
The decision to form an LLC or a corporation is a common debate among business owners that deserves careful consideration. While both are excellent choices for personal liability protection,...
Understanding Tax Return Preparer Credentials and Qualifications
Any tax professional with an IRS Preparer Tax Identification Number (PTIN) is authorized to prepare federal tax returns. However, tax professionals have differing levels of skills, education and expertise....
A tax return preparer is trusted with your most personal information. They know about your marriage, your income, your children and your social security numbers – the details of...
Definition of a Nonprofit Corporation
A Nonprofit corporation is a special type of corporation that has been organized to meet specific tax-exempt purposes. To qualify for Nonprofit status, your corporation must be formed to...
What is the difference between a C corporation and an S corporation?
The IRS allows corporations to choose to be taxed as either a “C corporation” or an “S corporation.” Income from C corporations are subject to double taxation; that is,...
Name recognition is crucial to a company’s success. Therefore, it is important to make the name you choose official. Name acknowledgement is achieved when the business name is used...
