Our CPA Blog

Topics that help our customers.

Do I need to form an LLC to start selling stuff on Amazon?

Aug 27,2017 at 04:39 am

 In short, it is not required to start LLC for Amazon business. You can start out as a sole proprietor but there are few risks. Your personal assets may be used for payment of business debts etc. 

There are few advantages of incorporating and also based on your projected income, there ar...

[Read More]

Can a sole proprietorship outsource any work like accounting?

Aug 27,2017 at 04:36 am

Yes, a sole proprietor can outsource accounting or tax work. In fact, many businesses outsource these services so they can focus on their core business.

 

** Our response to question posted on quora

[Read More]

What kinds of businesses are appropriate for sole proprietorship?

Aug 27,2017 at 04:35 am

You can operate any business as a sole proprietor. One exception which I would like to mention is :

Businesses that require Professional licenses: Few professions like attorneys, CPAs etc require a license to operate a CPA & law firm. So, unless you have a license you...

[Read More]

How do small businesses pay their taxes?

Aug 27,2017 at 04:31 am

As a small business owner, if you are a sole proprietor or a partnership ( Single Member LLC/Multi member LLC), you are required to estimate your quarterly share of income /expenses & remit a payment to IRS if there is a tax due.

If you elected S Corporation status for your small busin...

[Read More]

Before starting any potential side hustle, do you always need to legally set up an LLC? Can I launch my website and see if I can obtain customers first?

Aug 27,2017 at 04:30 am

It really depends on your type of business, your projected income for the first few years etc.

As a sole proprietor, your personal assets can be used to pay business debts. Also, if there are any law suits, you may be held personally liable. Therefore, many prefer opening LLCs or corporati...

[Read More]