Traditionally, the definition of a “recession” has been two quarters of negative growth, which, if you’ll remember, we took care of several quarters ago. At the time, the administration tried to put on a happy face and redefine “recession” and … Read More
Do You Need an S-Corp?
If you operate your business as a sole proprietor or in a group as an LLC, the S-Corp election might be just want you need! Now, if your profit is less than 50,000 a year then the extra complexity is not worth the small amount of tax savings. But, if you gross over 50,000 it is worth running the numbers to see how much you could save and what other tax/ business/ and retirement advantages you could set up.
No matter what you do for a living, all of us have some sort of “retirement” plan in our minds. It might be part-time consulting in your field for a premium or it could be retiring to Lake Havasu and … Read More