Albertine

Dissolution begins ending a partnership. File a dissolution form to formally announce the partnership’s end. This protects you and makes future business easier. You might dissolve your business for important reasons. Dissolution agreements establish timelines for ending partnerships. You must settle debts, legally end the business, and distribute assets fairly. If a partner wants to … Read more

Journalizing and Ledger Organization The process involves making journal entries for financial transactions into the journal. The general journal keeps a record of every transaction. Efficient Record Keeping Practices To simplify, use a combined sales and cash receipts journal. With a solid understanding of records to keep and best practices for organizing them, you can … Read more

S Corporation Basics An S corporation (S Corp) is not taxed at the business level. The S Corp income passes through to the owner’s tax return as salary and distributions. The owner’s salary pays employment taxes and income tax. Distributions only pay income tax, which leads to S Corp tax savings. An S Corporation reduces … Read more