Professional bookkeepers work in a highly competitive environment, so tailoring your offerings or adding new services to your repertoire can set you apart. Here are some ways to expand what you do for your clients, deliver more value to them, and generate more...
Among an employer’s obligations are payroll taxes and other employment related details, such as FICA and income tax withholdings, federal and state unemployment insurance, and workers’ compensation insurance. But is every business with employees responsible for...
Choosing a business name is exciting and it’s one of the most important startup tasks. Your business name will be the cornerstone of your brand identity, and you’ll want to ensure the name you select isn’t already taken by someone else. That involves a name search...
Can you have LLC members living in multiple states? Yes you can, but there are some considerations you’ll need to keep in mind. The practice of running an LLC with members in multiple states has become more common as remote work is increasingly utilized. But to do...
The State of Delaware will require all Limited Liability Companies (LLCs) and Corporations to re-register their trade names, also known as DBAs. The move is aimed at making the registration process easier and eliminating a backlog of trade names that were not...
If you’re operating your business as a Partnership, you may be wondering if it’s possible to change to an S Corporation. While converting directly from a Partnership to an S Corporation for tax purposes isn’t allowed, there is a way to get there—if the owners of a...
If you’re thinking about starting a Partnership, there are some important considerations to keep in mind. As with every business venture, there are advantages and challenges involved with operating a Partnership, and it’s best to understand what you’re getting into...
This year, Pennsylvania retired its decennial report requirement and now requires many business entities to file annual reports. Going from reporting every ten years to every year is a result of the 2022 Act 122, which Governor Tom Wolf signed into law on November...
What Is Piercing the Corporate Veil? A corporate veil, the legal shield of separation between a business and its owners, helps to protect individuals from being held personally liable for their company’s debts and legal disputes. Businesses formed as a Limited...
All businesses, of any size, that hire employees must manage payroll. It’s a responsibility not to be taken lightly! Careful attention to accuracy and compliance with federal, state, and local laws for withholdings and deductions is imperative to avoid mistakes and...
Ownership of Limited Liability Companies (LLCs) changes frequently for a variety of reasons. If you have a multi-member LLC, which has two or more members, and are looking to convert it to a single-member LLC, you’ll need to understand how the process works and...
If you’re considering a Limited Liability Company (LLC) or Partnership as your company’s business structure, you’ll have many considerations to think about. Choosing a business entity type has ramifications legally, administratively, and financially—all of which...
A profit share agreement, sometimes called a profit share contract, is an important legal contract between two or more parties, such as individual business partners, businesses, employers and employees, or investors and entrepreneurs. A profit share agreement is...
If you own multiple businesses, you might be wondering if it is safe to operate them under the same LLC. Although it’s possible, this approach has a potentially significant downside. If someone sues one business, not only will that business’s assets be at risk but...
If you’re considering retiring, looking for a new venture, or bringing a partner into your business, you may be wondering about the process of transferring business ownership. There are various ways to sell part or all of a business, and regulations you’ll need to...
Yes, it is possible to set up a Limited Liability Company (LLC) in another state, and there are two possible scenarios for doing so: Form an LLC in a state different from where the business owner lives and works. Register an existing LLC formed in one state to...
In a press release issued late in the day on March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) announced an “interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to...
There are stories all over the internet about kids and teenagers who have started businesses and are operating successfully as entrepreneurs. Sisters Caroline and Isabel Bercaw started making bath bombs in their basement in Minneapolis when they were 11 and 12...
While most entrepreneurs choose to register a Limited Liability Company (LLC) in the state where they live and plan to operate, some decide to expand their operations into one or more other states by registering it as a “foreign LLC”. The LLC is considered a...
If you’re starting a business and planning to operate it as a Limited Liability Company (LLC), you may be struggling to decide what to name your company. Should you include your personal name, or would it be better to register a more conceptual or catchy name as...
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