Esther

Audience and Purpose of Annual Reports Current shareholders and potential investors are the primary audience of annual reports, which are now considered marketing tools. It provides a complete idea of the company for shareholders and prospective investors. Requirements for Annual Report Infographic and GST Return An infographic for annual reports is a beneficial option. GSTR-9, … Read more

Why Use an EIN An EIN Protects Privacy and Ensures Business Stability Understanding EIN and Its Benefits Employer Identification Number (EIN) is crucial for tax filing, business entity registration, loans, and more. EINs uniquely identify taxpayers, including corporations, partnerships, and limited liability companies. EIN vs SSN Most sole proprietors can use their SSN but considering … Read more

Startup Expenses and Location Costs Initial startup expenses for a candy store can range from $10,000 to $50,000 or even higher. Candy store owners should have a well-detailed business plan outlining all costs. Renovating retail space can be among the most significant startup costs. If you plan to establish a physical location, rental costs vary … Read more

Disadvantages of Sole Proprietorship The biggest disadvantage is that this business structure comes with no protection for the business’s owner. If you or your employee incur a lot of business debt, creditors can go after your personal assets to collect. A sole proprietor is individually liable for the debts of their business. A business creditor … Read more

Vehicle Deduction Options An LLC can write off a car purchase if it is used for business purposes. The deduction amount depends on whether you use the standard mileage rate or actual expense method. With an SUV over 6,000 pounds, 100% of the cost can be expensed using bonus depreciation in 2022. Tax Deductions and … Read more