Before starting a business, it is important to understand the difference between S Corps and C Corps. Both offer limited liability protection and tax benefits, but they’re not exactly the same. S corporations are pass-through entities; this means that their profits and losses flow through to the owners’ personal income tax returns. Therefore, S Corp …
If you have a business or are thinking about starting your own business, you may need to hire a Chief Financial Officer (CFO) to help with day-to-day operations. A CFO is responsible for managing money and overseeing financial matters in an organization. A good CFO will ensure that your company’s finances are running smoothly and …
If you are thinking about selling your business, then you should start by understanding what makes a business valuable. Having a good idea of what the business value is will help you determine whether or not it’s time to sell. For most businesses, the best time to think about selling is at the beginning or …
Accounting plays a vital role in running a business. Though it’s not always easy to understand at first, accounting is a powerful tool. It provides a record of your company’s financial transactions, helps you see if your business is profitable or not, can help you with tax planning and preparation. It even helps you keep …
At Wasatch CPA Services we offer more than just accounting services and tax planning, we provide solutions that are tailored to your specific needs. We understand the importance of your business and that’s why we go above and beyond to help you succeed. We want you to be able to focus on what you do …
When your computer crashes and you have a technical interruption at a crucial moment, it can be extremely frustrating. You’ve spent the last few hours putting together an outline of what your prospect needs, along with how you propose to fulfill it. Most of the details are on your laptop, ready for your meeting with …
We are firm believers business owners should do all they can to minimize their tax bill. But sometimes that comes in unusual ways. Did you know, for example, that simply splitting your company can save you money on your tax bill? The Tax Cuts and Jobs Act actually created several scenarios where this makes sense. …
When you tell a business owner they should adopt a growth mindset they often think you’re telling them they should focus on growing the business. The truth is, a growth mindset does often have that impact. But that’s actually not required and the term “growth mindset” doesn’t necessarily have anything to do with growing the …
Last week we shared with you an option to move to Puerto Rico to reduce your tax bill to 4%. Some of you may have been intrigued, while many of you probably were not. There is actually another option for reducing your taxes by 90% on corporate or personal income taxes. This strategy also eliminates …
Does your marketing feel like throwing spaghetti against a wall? You never know what, if anything, is going to stick? Most businesses find marketing feels like that when they start. Yet it is possible to have highly effective marketing. The first is by accident, but that rarely happens. And having it accidentally happen for you …
