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Questions to Ask When Buying a Business

Posted by presspass on
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Business
Questions to Ask When Buying a Business

Each year I learn about disasters that occur when my clients or others either buy or start a business. Why do these disasters happen? Many times the problems start because of consulting the attorney and the banker, but not consulting their tax professional. Why is it necessary to consult a tax professional when starting or buying a business? With good planning and discussion tax issues can be avoided and tax liabilities can be minimized by working with a tax professional even before buying or starting a business. If you wait until tax season to inform your tax professional, you could then be facing a large tax bill.  And, the ability to take advantage of any additional tax deductions for the start-up year is greatly reduced.

When you consider buying a business, there are many tax and accounting questions that have to be asked. You need to consult tax professional not working for the current business owner. This is even more necessary if you have been working in the accounting department for the company you are looking to buy.

Some points about buying a business you need to consider are:

  • What type of entity is the business you are looking to buy?
  • If the business is a corporation, will I be buying the stock of the corporation or the assets of the corporation?
  • What type of business entity is best for my situation?

These are only a few of the questions a prospective business owner must get answered before signing any papers to purchase a business. The answer to these and many other questions will determine how the buying and operating of the business will affect your tax situation.

I highly recommend scheduling an appointment with an Enrolled Agent, like myself  for a Free Business Discovery Session, when you consider either starting a business or buying a business. By consulting with me now, you will save on tax payments and tax headaches later.

Am I Planning for Success or Disaster? Business Startup and Taxes

Posted by presspass on
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Business
Am I Planning for Success or Disaster? Business Startup and Taxes

Your have the idea. You have the skill of a trade for which you are passionate. You believe there is a need in your area or on the internet for your services. Where to begin is the BIG question. What kind of business structure should I have? A sole-proprietorship? An LLC? A Corporation? A Partnership? To whom should I go visit first, an attorney, the banker, or my tax person?  To often when starting a new business the prospective new business owner goes either to the attorney and/or the banker first and never considers their tax person. Many times the tax person does not learn of the business until the time comes to file the tax return. In fact, the first stop when looking to start the business should be to the tax preparer’s office.

For example, when a client or potential client comes in or schedules a video conference, we sit down and have a free discovery session about their business idea. We want to help you own a business that will bring you the joy and freedom you deserve. From the beginning, you will learn the correct steps to become profitable faster.

First, you will need a business plan to document success for your business. The plan will identify you unique elements for success. Second, what business structure will give you the most benefits and protection? By analyzing your goals and understanding the tax advantages and disadvantages of each structure you will be able to know whether you should be a corporation? LLC? or Sole Proprietorship? Third, we will help with the heavy lifting of startup for your company, including tax registrations, Federal ID numbers, assistance with bank accounts and more. Fourth and most importantly, you will need to manage profits. We help to implement your accounting and payroll systems, so you can fully understand the status of your business and know when to make adjustments.

A customized success plan designed just for you will help you to take the right steps from day one and put you on the road to making a profit.

Raising CEO Kids

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Raising CEO Kids

BTSY

How do young people launch a business or a non-profit? Entrepreneurial hosts Henna Hundal and Asya Gonzalez discuss their personal journeys into the business world and give credit to their guides and mentors behind the scenes. Asya’s mom and dad, Tamie and Julian Gonzalez join the ladies, providing a parents perspective on how to support and enrich a child who wants to launch a business in childhood. Margaux Froley, author of Hero Complex and Escape Theory, works in Hollywood with TV networks including TLC, MTV, HGTV, and CW, CMT, and the Travel Channel. Margaux encourages young people to not fear going after their dreams. Become the CEO of your own life. It’s never too early! Listen at Voice America Kids Radio and for photos, descriptions and links listen here. Listen to all broadcasts at ITUNES

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SPECIAL BOOK SALE FOR THE HOLIDAYS: Buy Be the Star You Are!®, Be the Star You Are!® for Teens, or The Business of Show Business for the ULTRA DISCOUNT (55% off) PRICE  of $9.99 plus shipping through December 31. Buy ONLY at our STORE and ask for personalized inscriptions. 

Congrats to everyone who volunteers and supports Be the Star You Are!®. BTSYA has been named a 2014 TOP NON PROFIT for the 6th straight year and is one of the first to be awarded this honor by Guidestar and Great Non Profits.  Read more at Press Pass.

Express Yourself!™ Teen Radio is produced by Cynthia Brian of Starstyle® Productions, llc as an outreach program of Be the Star You Are!® charity. For information on being a guest email caiekelley@gmail.com. To make a tax-deductible donation to keep this positive youth programming broadcasting weekly to international audiences. Thanks for supporting teens! 

Be the Star You Are!® charity. It’s the Season of Giving Make a donation today.  Buy books and shirts here. 

 

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Watch our newest video of host Henna Hundal talking about Express Yourself! Radio

 

 

Third Anniversary and Thanksgiving Celebration

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Third Anniversary and Thanksgiving Celebration

thanks

Be the Star You Are!® 501 c3 charity presents: Express Yourself Teens With the on-air Be the Star You Are!® youth reporters.

On behalf of the entire Express Yourself!™ radio team, we are grateful to be celebrating our third-year anniversary of weekly broadcasts! It’s been a humbling, awe-inspiring, transformational journey filled with teen reporters from across the United States, guests from around the world, and a production team dedicated to making a difference in the world.

Caiseen-Henna

It is also the season of Thanksgiving as Hosts Henna Hundal and Caiseen Kelly talk with Social Responsibility Reporter, Asya Gonzalez about gratitude. The first Express Yourself!™ teen host and show administrator, Steven Zhou, returns to reminisce about the impact being part of this positive radio program has had on his college life, and our hosts interview the star of Amazon’s new series, “Gortimer Gibbon’s life on Normal Street”, Sloane Morgan Siegel. He is best known for his recurring role in CBS’ “Partners” and his appearance on Nickelodeon’s “Wendell and Vinnie.”His film credits include “Hate Crime” and the short “Between the Forest and the Field.” 

Tune in for an uplifting hour of Thanksgiving, entertainment, and Anniversary Celebration. For what are you grateful?

Listen at Voice America Kids Radio and for photos, descriptions and links.

Listen to all broadcasts at: ITUNES

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SPECIAL BOOK SALE FOR THE HOLIDAYS: Buy Be the Star You Are!®, Be the Star You Are!® for Teens, or The Business of Show Business for the ULTRA DISCOUNT (55% off) PRICE  of $9.99 plus shipping through December 31. Buy ONLY at ourSTORE and ask for personalized inscriptions.

Congrats to everyone who volunteers and supports Be the Star You Are!®. BTSYA has been named a 2014 TOP NON PROFIT for the 6th straight year and is one of the first to be awarded this honor by Guidestar and Great Non Profits.

Radio

Express Yourself!™ Teen Radio is produced by Cynthia Brian of Starstyle® Productions, llc as an outreach program of Be the Star You Are!® charity. For information on being a guest email caiekelley@gmail.com. To make a tax-deductible donation to keep this positive youth programming broadcasting weekly to international audiences.  Thanks for supporting teens!

Be the Star You Are!® charity. It’s the Season of Giving Make a donation today. Buy books and shirts.

Read more at Press Pass

Halloween Spooktacular

Posted by Editor on
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Halloween Spooktacular

pumpkin carving

The season of screams and scares is officially here! Halloween is right around the corner, and it’s time to embrace your inner ghoul. For a skelton’s spooktacular holiday inspiration, Express Yourself!™ gets you into the spirit of Halloween faster than you can say BOO! We celebrate Halloween traditions from around the world with hosts Henna Hundal and Katelyn Darrow as they pepper our trick or treat show with tips on how to enjoy haunted attractions, create gory decorations, carve peculiar pumpkins, cook monster mash, and don unique costumes. Rising star on Nickelodeon’s “Henry Danger”, hilarious and fun loving Sean Ryan Fox, talks about his love of superheroes, superpowers, and his similarities to his crazy character, Jasper. Debuting reporter of Hope Heals, Zahra Hasanain, delves into the history of Halloween while offering the best places and ways to trick or treat. As the chairperson of Be the Star You Are!®’s Trick or Treat for Literacy Campaign, Zahra as well as hosts Henna and Katelyn encourage donations to http://www.bethestaryouare.org/donate.htm to give books instead of candy. No matter what your age, as the skies darken and jack-o-lanterns glow, get your goosebumps on for a walking dead scary Halloween!

BTSYA

Catch “Henry Danger” Saturdays at 8pm on Nickelodeon, Official Henry Danger Website

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Listen at Voice America Kids Radio and Click here for photos, descriptions, links, and listen in. Also Listen to all broadcasts at ITUNES

Congrats to everyone who volunteers and supports Be the Star You Are!®. BTSYA has been named a 2014 TOP NON PROFIT for the 6th straight year and is one of the first to be awarded this honor by Guidestar and Great Non Profits.

Express Yourself!™ Teen Radio is produced by Cynthia Brian of Starstyle® Productions, llc as an outreach program of Be the Star You Are!® charity. For information on being a guest email caiekelley@gmail.com. To make a tax-deductible donation to keep this positive youth programming broadcasting weekly to international audiences. Thanks for supporting teens!

Be the Star You Are!® charity. It’s the Season of Giving Make a donation today. Buy books and shirts. 

Trick or Treat for Literacy: 

Give to Trick or Treat for Literacy. Instead of collecting candy, collect donations to give a child a book treat. 

Halloween

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