President Joe Biden signed the budget reconciliation bill H.R. 5376 into law Tuesday, August 16, 2022. Better known as the Inflation Reduction Act, the bill includes a number of tax provisions that may affect your business.
You have a great concept for a business, but before you move on to developing your buy-sell agreement, do you know what the best structure or entity type is for you? The entity type is crucial to the success of a business and can have drastic legal and tax consequences for a company. As a business owner, it is your responsibility to understand the structure of the business you are creating and your personal stake within the company.
Expanding your donor pool is a great way to develop new funding sources for your nonprofit. Before you decide to widen your reach, you will want to make sure you are compliant with every state’s fundraising regulations where you plan on fundraising. Often, this will mean filing a charitable solicitation registration (CSR).
The state of Ohio recently amended Ohio’s General Corporate Law to allow for the creation and governance of benefit corporations. Benefit corporations are a kind of bridge between the traditional for-profit and non-profit models businesses traditionally use to structure their corporation. They try to balance earning a profit and supporting a purpose that betters society or the environment.
Reconciling QuickBooks, in either the desktop or online version, is just like balancing your personal checkbook; your bank balance should agree to your QuickBooks account balance plus or minus items that have not yet cleared the bank. Every month, collect your bank statements to make sure you’ve entered every transaction into QuickBooks.