The Benefits of Forming as an LLC

Deciding which business entity your new company should be is a daunting task.  You will need to consider the tax implications, the state liability issues, and what ongoing responsibilities will have to be performed in order to keep the company in good standing.  Fortunately, for most the choice ends up being relatively simple: form as a limited liability company or …

Independent Contractors/Employees Latest News from the Internal Revenue Service

As a business owner, how do you classify the people who work for you? Are they independent contractors or employees? The classification is important and can be scrutinized by the Internal Revenue Service (IRS) and others. The distinction between an employee and an independent contractor is important for several reasons. The following are a few areas of importance: Impacts tax …