by Nate Gilbert | Jun 6, 2022 | Business Law
Passing expenses through a business is one of the easiest ways to achieve write offs on your tax return. Making more items and services “business expenses” allows those costs to be written off of your total profit at the end of the year; the amount you spend on the...
by Nate Gilbert | Aug 31, 2021 | Business Law
An LLC, by default, is taxed as a “pass through” entity, where income is reported on the member’s personal return on Schedule C. An LLC may also make an election to be taxed as C corp, where your entity will be taxed as a corporation and thus subject to the 21%...
by Nate Gilbert | Aug 25, 2021 | Business Law
Pass through taxation is exactly what it sounds like: the tax passes through an entity and on to the members or partners of that entity. The entity pays NO tax, only the partners or members do. In a partnership, the entity earns profits on the business. These...
