Monthly Archives

April 2014

LLC, S-Corp, C-Corp – What’s the Difference?

By 2014, Tax Tips

As you take the first steps toward choosing the entity type for your new business, you will find that there are multiple options for you to choose from. The differences can be difficult to understand and it can be frustrating trying to make the right choice for APOLLCyou and your new business.

One of the most common entities is an LLC, Limited Liability Company. An LLC is a type of business that separates your finances from those of your business. Similar to an LLC is a PLLC which provides the same protections for business owners providing services that require a license such as those opening a medical practice.

An S-corporation protects your finances the same way an LLC does, but it can be daunting for a new business. An S-Corp requires a board of directors and the filing of multiple reports, which an LLC does not. One difference between an LLC and an S-Corp is the level of regulatory commitment you would be undertaking. An advantage of an S-Corp is the potential savings of self-employment taxes. Of note, an S-Corp is limited to 100 shareholders and all shareholders must be domestic.

A C-Corporation, like both the LLC and S-Corp options before it, protects your finances in the event of your business being sued. Like the S-Corp it relies on shareholders, but it does not have a limit on how many shareholders can be a part of the company. A major disadvantage not seen with an S-Corp or an LLC is what’s referred to as “double taxation,” wherein the Corporation’s profits are taxed, distributed, and taxed again as dividends to the shareholders.

Each business type comes with unique advantages and disadvantages. As experts in accounting management solutions, ATS is well-versed in each of the options available to your new business. Call us today at 303-232-8300 and speak to one of our friendly affordable accounting advisors to schedule your free consultation.

Accounting Tax Solutions – Your Trusted Business Advisor

By 2014, Tax Tips

Accounting Tax Solutions – Your Trusted Business Advisor

Businesses have a unique set of needs when it comes to accounting and tax work.

At Accounting Tax Solutions, we’ve developed a comprehensive business advisor program that arms growing businesses of any size with the tools they need to succeed in today’s increasingly competitive market place.

ATS not only offers monthly accounting but is also a part of the management team, acting as a business partner and advisor. This is based on our unique combination of skills, ability, knowledge and strategic alliances. While we may not have the answers in all of these areas, we have the resources available to act as a “general contractor” in obtaining the expertise in these areas. Our goal as your trusted advisor and member of your management team is to hold you accountable to address these business decisions on a regular basis.

Accounting Tax SolutionsTo schedule a free consultation with an Accounting and Tax Solutions business advisor, call (303) 232-8300.

 

IRS issues new regulations for tax preparers

By 2014, Tax Tips

IRS issues new regulations for tax preparers

tax

Tax season is already in high gear, and businesses should be mindful of new IRS regulations regarding tax preparation. Don’t forget to meet your deadlines and choose a competent business tax professional.

According to the IRS, all paid tax return preparers to have a Preparer Tax Identification Number (PTIN).  It is important to find out if the preparer is affiliated with a professional organization, and if so, if there are any disciplinary actions or complaints registered with the Better Business Bureau, state boards of accountancy for certified public accountants, the state bar associations for attorneys and the IRS Office of Enrollment for enrolled agents.

After confirming the preparer has a registered PTIN number, the next thing you should do is confirm they are experienced with business tax returns. Then find out about service fees and if the preparer offers electronic filing. The IRS recommends avoiding any preparer who base their fee on a percentage of your return. You should also make sure funds are deposited directly into your account or sent to you, not to the preparer. Electronic filing is safe and secure and should be used by anyone not specifically requesting a paper return. The preparer is required to sign the return per IRS regulations.

Let Accounting and Tax Solutions be an integrated part of your business. Let us use our experience, knowledge and expertise to be your trusted business advisor and ongoing part of your management team. Contact Accounting and Tax Solutions for a consultation (303) 232-8300.

 

Accounting & Tax Solutions Debuts New Website and Trusted Business Advisor Concept

By 2014, Tax Tips

FOR IMMEDIATE RELEASE

Accounting & Tax Solutions Debuts New Website and Trusted Business Advisor Concept

LAKEWOOD, CO—

Accounting & Tax Solutions, Inc. is pleased to announce the launch of its new website www.acctaxsolutions.net this month. This site combines a more user-friendly approach with exclusive content from our accounting professionals. It also offers quick and easy access to essential information that will help businesses make a better, well-informed decision when choosing an accounting or tax solutions service.

Some of the highlighted new features include new video capabilities, a client portal to give customers easy access to their accounts at any time of the day, a monthly eNewsletter that will keep Accounting Tax Solutions clients up to date on the newest happenings in the industry and at the company. The new website also features links to our social media page to encourage client and affiliate interaction.

Accounting & Tax Solutions’ Trusted Business Advisor service is an enhancement to our Monthly Accounting Services. Becoming your trusted business advisor will help your organization plot a course for your future success. This is based on our unique combination of skills, ability, knowledge and strategic alliances. While we may not have the answers in all of these areas, we have the resources available to act as a “general contractor” in obtaining the expertise in these areas. Our goal as your trusted advisor and member of your management team is to hold you accountable to address these business decisions on a regular basis.

Visit www.acctaxsolutions.net today, watch our informative service area videos, search our resources and follow our blog and social media posts for the latest tools to help your business thrive in the challenging environment of business.

About Accounting & Tax Solutions, Inc.

Accounting & Tax Solutions, Inc. is a comprehensive business advisory firm specializing in individual and business accounting services. We provide tailored packages and independent products according to the prioritized needs of our clients. We excel in bookkeeping, business and individual tax planning and preparation, business startup plan consultations, and our concierge business controller program where we function as part of your management team fulfilling all the roles of an in-house tax and accounting firm.

Like us on Facebook: https://www.facebook.com/pages/Accounting-Tax-Solutions-Inc/
Follow us on Twitter: https://twitter.com/AccTaxSolutions

Contact:
710 Kipling Street, Suite 305
Lakewood, CO 80215
T: 303.232.8300
E: contactus@acctaxsolutions.net
W: http://www.acctsolutions.dreamhosters.com

 

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