I got some sad news last week. A friend, actually another small business owner, had finally reached the breaking point. He had found he was working … [Read more...] about Why You’re Working Too Hard
Steps for Electing Sub S Status for Washington LLC or Corp
In earlier posts, I've described how to set up your own Washington corporation or limited liability company. And I've talked about the rules for and … [Read more...] about Steps for Electing Sub S Status for Washington LLC or Corp
Pension Deductions Versus Payroll Taxes
I've been hanging out at the bogleheads.org forum recently. And in a discussion about business owner salaries, another forum member asked how one … [Read more...] about Pension Deductions Versus Payroll Taxes
How to Make S Elections for Washington Businesses
Both Washington state corporations and limited liability companies can elect to use the tax accounting rules described in Subchapter S of the Internal … [Read more...] about How to Make S Elections for Washington Businesses
Forming a Washington State Corporation
You can pay one of those online services to set up a Washington corporation. But if you’re at all the do-it-yourself type, the actual steps you take … [Read more...] about Forming a Washington State Corporation
What Sort of Accounting System Does a Small Corporation Need?
I've been working with the new version of QuickBooks the last couple of weeks. And that activity has made me think in very general terms about the … [Read more...] about What Sort of Accounting System Does a Small Corporation Need?
Washington State LLC vs Corporation Rules
New business owners often want to organize a venture as a corporation or limited liability company. And that choice makes great sense. Both LLCs and … [Read more...] about Washington State LLC vs Corporation Rules
DPAD Deductions for Small Businesses
I want to talk a bit about a crazy business tax loophole called the DPAD, or Sec. 199 deduction, that's available to but that often isn't used by … [Read more...] about DPAD Deductions for Small Businesses
EIN Rules for Washington LLCs
You may need to get an Employer Identification Number, or EIN, for a new Washington State limited liability company so you can open a bank account and … [Read more...] about EIN Rules for Washington LLCs
Forming a Washington State LLC
I want to throw out a silly idea about forming a limited liability company in Washington state: You can probably do the work yourself. Here’s the … [Read more...] about Forming a Washington State LLC