When shareholders elect to make a corporation an “S corporation,” it’s essentially for tax purposes. With an S corporation, the business’s income and losses are “passed through” to the shareholders to report on their personal income taxes. This prevents “double...
Year: 2022
Don’t look for the wrong things when inspecting a new home
People often talk about looking for the right things in a new home. If you're interested in the residential real estate market, you likely have a list of things that simply have to be in the house for you to even consider it. This is a good place to start, but you...
Benefits of a limited liability company
Starting a new business is an exciting time, but it’s one that comes with some major responsibilities. One of the decisions that you have to make is how to structure the business. For people who are going to work alone, the decision is whether they want a sole...
Eminent domain: What does it mean for you?
In the United States, governments have the authority to take private land if it's being used for public use. This doesn’t mean that the property owner just has to accept what’s going on. They’re entitled to be fairly compensated for the property, and this sometimes...
Starting a business? Here’s what you should outsource
When you’re just starting to get your business off the ground and you want to expand, you want to keep your costs to a minimum. However, hiring professionals for certain jobs can help you avoid critical mistakes. Outsourcing a number of tasks can actually save you...
What’s the difference between a down payment and earnest money?
Buying a house is a huge step in your life, and you don’t want to make any mistakes. The home buying process itself can be very confusing. It seems to have its own rules and language, and that can leave you on unfamiliar ground. One of the first things you need to...
The reasonableness of non-compete agreements
Non-compete agreements are a fairly common way for business owners to ensure that their employees are not going to leave the company and then do something that would financially harm that company. For instance, directly working for the competition or starting a...
Is property flipping actually illegal?
If you're looking into flipping properties for profit, you may be surprised if you put that term into a search engine and find out that it can be illegal. You've watched shows on this, you've read books about it, you've talked to other professionals who do it and you...