Frequently Asked Questions (Just the FAQs)
With more than a decade of experience supporting Main Street businesses, your questions probably aren’t the strangest ones we’ve seen. Let’s look at some of the more common bookkeeping questions below:
Both a C corporation (also known as a regular corporation or standard corporation) and an S corporation (also known as a small business corporation or
A partnership is a business structure in which two or more individuals or entities operate a business together. Partnerships are formed when two or more
To form an LLC in your state, you will need to follow the specific LLC formation procedures and requirements set forth by your state’s business
What is the difference between an LLC and Sole Proprietorship? Is it better to set up my business as a Sole Proprietorship or as an LLC?
A sole proprietorship is a business owned and operated by a single individual, while a limited liability company (LLC) is a hybrid business structure that
A sole proprietorship is usually the easiest legal structure to use for setting up a company. It can be as simple as deciding you’re in
During the next few posts we’ll be covering the different ways you can structure a new company in 2023. We’ll discuss the differences, advantages and
As a general rule, it is a good idea to keep copies of receipts, bills, and invoices for your business for at least three years.
Yes, you should almost always be sending customers receipts! It’s an important part of the sales and bookkeeping process for both you and your customers.
Can I do my own bookkeeping or should I hire a bookkeeper? When does it make sense to hire a bookkeeper?
Whether to do your own bookkeeping or hire a bookkeeper depends on a variety of factors, including your time, expertise, and resources. Here are a
Who do I need a W9 from? Why do I need to get a W9 from contractors or small businesses I buy things from?
You may need to obtain a Form W-9, Request for Taxpayer Identification Number and Certification, from contractors or small businesses that you buy goods or
The $600 tax reporting requirement refers to the Internal Revenue Service’s (IRS) requirement that businesses and individuals must report certain types of income on their
Do you have a question that’s not answered here? Let us know, and we can help you get answers!
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