Incorporating Your Small Business …will reduce you’re your financial liability. If you’re running a small business as a sole proprietorship or a general partnership, be warned, everything you own is at risk. Your house your car and your lawn mower could all disapear. A lot can go wrong when running a business, most of what [...]
LLC owners must report their business income and losses on their personal income tax returns Similar to a sole proprietorship or partnership you must report your income to the IRS. An LLC is not a separate tax entity like a corporation. The IRS considers Limited Liability Company a ‘pass through entity.” Earnings are taxed only [...]
The state of Florida offers many advantages to those wishing to incorporate their small business in the sunshine state In the first quarter of 2005, Florida’s GSP (Gross State Product) was $613.9 billion. This number is up 1.2% from the previous quarter and is up 4.6% from the previous year. In addition to this robust [...]
