How you pay yourself as an owner depends on the type of entity you are and how many owners there are. This post lays the groundwork and defines a few terms that should help demystify how entities pay the owners of the business.
Not all industries and occupations are treated equally in the eyes of government officials. Some industries and occupations require the business to obtain a “Business License” to operate. This video provides the background into why some industries and occupations require oversight from a government entity.
There is a gross misunderstanding when it comes to the protection afforded to business owners of a Limited Liability Company (LLC). This video identifies who’s liability is protected and who’s is not.
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Most people associate registering their business with the Secretary of State as the proper way to secure their unique business name. While this reason is partially true, it is not the real reason a business needs to register their entity with the Secretary of State. In this short video we discussed the real reasons why a business needs to register [...]
The news is filled with quotes from government officials exposing the critical role small business play in our economy. Articles talk about the billions in government dollars directed toward supporting small businesses. However, before you stake your claim on these funds, you should understand the assumptions the government has about small business. Having made several trips to Washington D.C. to advocate [...]
Understanding monetary policy is critical to understanding why our lives are the way they are. Unfortunately, economics is often viewed by the vast majority of citizens with confusion and boredom. Financial jargon coupled with intimidating mathematics quickly deters people from any attempt at understanding it. That said, our established monetary system exists as one of the most unquestioned forms of faith [...]
Since the election season is in full swing, I can't help noticing that red vs. blue has given way to establishment vs. outsiders. In recent years, during their campaigns, politicians have marketed themselves as the candidate who will bring change to Washington, or in other words, the establishment. Yet once they are elected, they succumb to the political machine. Their [...]
While crowdfunding is becoming more and more common, tax support and guidance for the campaign creators continue to remain unclear on many points. At a minimum, the tax treatment of funds generated through crowdfunding depends on whether the campaign is reward-based, donation-based, or equity-based. Moreover, if it is reward-based, the value of any reward offered also becomes a factor, especially when [...]
As I write this article, we are in the midst of the political season. Candidates continue to talk about the fact that the middle class in the last decade is not making any progress. They are calling for minimum wage increases to improve their standard of living. I, however, believe they are looking at the wrong metric. I do not think [...]
It was the summer of 1971 and I was a youngster living in New York City riding my new Schwinn bicycle. The war in Vietnam was winding down, but that summer marked a turning point for American business. During the preceding decades, American business and the free enterprise system were under attack. 27% of American workers were union members and unions [...]