Farrah

There are four main disadvantages of incorporation: Increased cost, increased paperwork, increased liability, and reduced flexibility. Consulting with a business tax professional before starting is a good idea. You must file articles of incorporation and craft company bylaws. Understanding the different corporation types is important and how they impact operations. These include liability protections, tax … Read more

What is a Seller’s Permit? A seller’s permit, sometimes called a sales tax permit or sales and use tax permit, is a business license that allows you to collect sales tax on taxable goods and services. Your business is then responsible for sending the tax you’ve collected to your state taxing authority. Why You Need … Read more

Typically, dry cleaning would come under the ‘operational expenses’ category, as it is a necessary cost for the business to function. Your necessary expenses, such as cleaning supplies (mops, brooms, etc.), are tax-deductible. If the clothing qualifies as “deductible” for work, then both the laundry and dry cleaning expenses will also be deductible. If you … Read more