LLC, S-Corp, or Sole Proprietor? How to Choose the Best Business Structure for Taxes
When starting a business, one of the most important decisions you’ll make is choosing the right business structure. Your choice will impact how much you pay in taxes, personal liability, and business operations. The three most common structures for small businesses—Sole Proprietorship, Limited Liability Company (LLC), and S-Corporation (S-Corp)—each have unique advantages and tax implications.…
The #1 Reason Businesses Fail: Poor Record-Keeping (How to Fix It!)
Starting and running a business is exciting, but one of the biggest reasons businesses fail isn’t competition, lack of funding, or marketing mistakes—it’s poor record-keeping. Without accurate and organized financial records, businesses struggle to track cash flow, file taxes correctly, and make informed financial decisions. In this guide, we’ll explore common record-keeping mistakes, their impact…
How to Build a Business Emergency Fund & Why It’s Critical
Introduction Running a small business comes with its fair share of uncertainties. From unexpected expenses to economic downturns, every entrepreneur faces financial challenges at some point. Having a business emergency fund is not just a good idea—it’s a necessity. A well-established financial safety net can mean the difference between surviving a crisis and shutting down…
