Your Time Is Worth It’s Weight In Gold, Don’t Waste It.

YOUR TIME IS WORTH IT’S WEIGHT IN GOLD, DON’T WASTE IT. What makes something valuable? First, how much there is of it and second what can you do with it. Time is finite and it’s running out as every second of the day passes by. A lot of times we are so consumed by our daily life, Work, family, entertainment, and traffic. Life moves fast and the days pass by without noticing where we are, where we were and where we are going. On top of that we must be constantly aware of finances trying to keep up with our personal and business expenses, searching the web for strategies to create tax savings and looking for someone to tell us what

The SMAART Company Is Taking Over The Market! Why?

The name of this company says what they are all about. SMAART stands for Solutions, Management, Accounting, Advice, Retirement plans, and tax preparations. Usually Accounting and Finances business provide services that are unreliable, take a long time, and are interested on just getting it done fast so they can cash in and that’s it. That’s where SMAART is having the upper hand, their focus on customer satisfaction is taking this company in a fast ride to growth like no other company in the market. The company is based in Miami, but they provide services in Broward, Coral gables, Miami Beach, and all other cities in South Florida. They are not limited to Florida as they provide services for other states

S-Corporation

What is an S-Corp? An S-Corp or S-corporation is a common small-business structure that allows for certain Tax advantages over C-Corps. To be approved for the S-Corporation status there are certain requirements that need to be met: Must be a domestic corporation Have only allowable shareholders (Individuals, certain trust, states) Partnerships, corporations, or non-resident aliens cannot be shareholders. Must not have more than 100 shareholders Only one class stock NOT be certain ineligible institutions. (Certain financial institutions, insurance companies, and domestic international sales corporations) To become an S-Corp, The corporation must submit Form 2553, Election by a Small Business Corporation signed by all the shareholders. What Tax Advantages does it have? LLC’s and S-Corp are both pass-through entities meaning that they

S-Corporation v. C-Corporation

Even though both are corporations, both corporations have traits that differentiate their structure and way to conduct business. Formation To qualify as an S-Corp corporation must file form 2553Must meet stablished requirements. When you file articles of incorporation, C-Corp is the default type of corporation.Easier to form & less paperwork Taxation Pass-through tax( Income made by the corporation is not taxed and directly goes into income taxes of owner(s) ) Separates shareholders and company as different entityDouble taxation ( On profit made by the company & personal taxation on distribution or dividends made to shareholders) Ownership Limited to 100 shareholdersAll shareholders must be American citizens. No ownership limit Can be owned by other corporations. Each Corporation has its advantages and disadvantages

The Importance of an Operating Agreement of an LLC

The Importance of an Operating Agreement of an LLC. What is an Operating Agreement? An operating agreement of an LLC is a document stating the terms of the company according to the specifics needs of its members. It outlines functional and financial decision-making in a structured matter. An operating agreement is not necessary to open an LLC in most of the states. Only Missouri, California, and New York it’s a mandatory requirement. If it’s not mandatory, why should I do it? While it might seem like an extra step, the benefits of the Operating agreement are extremely necessary in the incorporation of an LLC. First, without an operating agreement, the ownership of the business follows the states default LLC rules.

General Partnership

What is it? A General Partnership is a business arrangement in which two or more individuals agree to share in all assets, profits, and financial & legal liabilities of a jointly owned business. What kind of protection does it have? In General Partnership, partners also agree to unlimited liability. This means that liabilities have no limits and can be paid through the seizure of any of the partners assets. Furthermore, any partner can be sued for the business debts. Ex: Juan and Pepe decide to start selling empanadas, they decide that they want to work together and then create a general partnership where both are equally responsible for anything that happens in the business. PROS

Corporate Bank Account

What is a corporate bank account? A business or corporate bank account works the same as a personal bank account, it may have checking, savings, credit and merchant accounts. However, the purpose is for a corporate entity to have its own finances without being mixed to the owner(s). What are the benefits? There are many benefits to a corporate bank account, here are a few: Protection: Banking as a business offers a limited liability protection to keep the business funds separate from your personal funds. Professionalism: As a business grows the perception that costumers have is extremely important, with a corporate bank account costumers will be able to pay the owner(s) with checks, debit, and credit cards directly to the

+1 (305) 819-3675

News & Updates

Your Time Is Worth It’s Weight In Gold, Don’t Waste It.

The SMAART Company Is Taking Over The Market! Why?

S-Corporation

S-Corporation v. C-Corporation

The Importance of an Operating Agreement of an LLC

General Partnership

Corporate Bank Account

Recent Posts

Categories

Subscribe Our Newsletter

Quick Links

Useful Links

Work Hours