Remove CPA Remove Limited Liability Company Remove Partner
article thumbnail

Exploring Tax Strategies For Small Businesses: Insights Inspired By Troy Renkemeyer’s Experiences

The Startup Magazine

Partnerships share income and losses among partners, affecting individual tax brackets. When choosing an advisor, look for credentials such as CPA (Certified Public Accountant) or EA (Enrolled Agent) status, experience with similar businesses, and a communication style that matches your needs.

article thumbnail

Business Prenup: What To Do Before You Start A Company With A Partner

YoungUpstarts

Here are a few tips to ensure that you and your partners start out on the right foot. For example, an attorney can assist with issues concerning corporate formation (such as the pros and cons of corporations, limited liability companies and other structures) that may impact liability. Congratulations! Bankruptcy?

Partner 208
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

With New 21 Percent Corporate Tax Rate, S-Corps Are Taking A Second Look At C-Corp Status

YoungUpstarts

by Lance Christensen, Susan Jacobini Harrington, and James Graff, Partners at Margolin, Winer & Evens LLP. Given that reality, it is imperative for S-Corp – along with other passthrough entities, such as limited liability companies and partnerships – to carefully consider the plusses and minuses of both scenarios.

Dividend 157
article thumbnail

How To Close The Books on Your Startup

mashable.com

If no shares were issued, the Board of Directors must approve to dissolve the company. If you’ve been operating as an LLC, review the dissolution requirements in your state’s LLCA (Limited Liability Company Act). Otherwise, members of the LLC can be held liable for debts of the company after it’s been dissolved.

LLC 68
article thumbnail

5 Critical Tips to Reduce Your Business Taxes This Year [WEBINAR]

Up and Running

Earlier this month I hosted Ryan Clower, a CPA from the accounting firm M. I am a CPA, down here certified in the great state of Texas and really just stoked to be here. ” If you see here in the graphic, the LLC, which is a limited liability company, many of you are probably set up in that format. Where am I?

.Net 85