Tag Archives: Corporation

The LLC Advantage

Today TaxMama hears from Roy in Virginia, who wants to know. “Is there any advantage to form an LLC for my speaking and consulting. I am an employed physician and heard there may be a tax advantage of forming an LLC.”

Ticket to the Future

Today TaxMama hears from Kevin in Florida with this interesting idea. “I need advice setting up a corporation (or partnership, LLC, etc…). The question is which one? I, and 3 good friends want to incorporate ourselves to form a business for the sole purpose of purchasing season tickets under one name. The advantage – with […]

Personal Service Shock

Today TaxMama hears from Mitchell in the Tax Parlor who just made a disturbing discovery. “I’m in the investigation process of setting up a corporation, S or LLC, for my one-man engineering business. Then I come across this category for Personal Service Corporation (PSC), whose definition includes engineering, but appears to be different than an […]

LLC Now or Later

Today TaxMama hears from Tommi in NC who asks, “When would be the best time to change from a sole proprietor to an LLC? Now? Or would it be best to wait until the first of the year, since I will have to get a new tax ID number (I will have employees)? Do I […]

Those Mysterious 1099s

Today TaxMama hears from Lisa in San Diego, CA who’s perplexed. “I work for a small financial service company as an accountant. Where can I get ‘easy to understand’ rules or criteria for which vendors I need to generate 1099 forms. Any help would be appreciated.”

Business Identity

Today TaxMama answers Susan from the Internet who is “looking for web sites that will assist me to do the following: 1) Apply for a Tax I.D. Number 2) Conduct a DBA (“doing business as” name) Search in my state and / or county. Are these services available on the Internet?”