How do LLCs get Taxed?

First of all, what exactly is an LLC?  It stands for Limited Liability Company.  Unlike a C Corp. or an S Corp. it is NOT considered a separate taxable entity.  The IRS treats an LLC as if it doesn’t exist, unless certain elections are made.

Why an LLC?  It could be great for your company because they are flexible when it comes to determining how you want to be taxed.  Now, you have the option of taxing your LLC like a sole proprietorship, a partnership or a corporation by filing the appropriate forms with the IRS.  How does that sound on the surface?

The question is…is it right for your company and YOUR future?  Someone who has been working with LLCs for over two decades in Las Vegas may have the answers you need to know.  His name is Michael Mathews.  Michael is one of our area’s top corporation accountants working from his office in the Northwest and serving all of the Las Vegas area.  This is a great time of year to give him a call and discuss your financial future at (702) 240-5237.

POOL PARTY - Memorial Day Weekend - 5/26

POOL PARTY - Memorial Day Weekend - 5/26

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Drais Beach Club - Las Vegas Pool Party

Doors Open @ 11am
Early Arrival is Strongly Suggested!!!

WE WILL HAVE RAE SREMMURD & SPECIAL GUEST PERFORMING LIVE!!

 

Getting a Hand Up…not a Hand Out.

There may come a time when you and/or your investors need a little financial help.  Even after “The Great Recession”, banks and other lenders still need to loan money to small businesses. The key is to know how to do it and get the best terms.  The eventual goal, of course is to run your operation as debt-free as possible.

Here are some of the steps to follow…

1.)        Build a relationship with a lender BEFORE you need the loan.

2.)        Be very specific as to why you need the money.

3.)        Decide what your company actually needs.  Don’t over or under estimate.

4.)        Prepare a specific loan application package.

There are other steps, but to that last point, why not call Michael Mathews?  Michael is a Las Vegas CPA who excels at applying for area business loans.  Don’t undertake this project without the help of a financial advisor.  Call (702) 240-5237 and make an appointment at his office located in the Northwest at 2620 Regatta Drive Suite 102.

2018 Best Mother's Day Brunch Restaurants in Las Vegas

2018 Best Mother's Day Brunch Restaurants in Las Vegas

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"Mom has fed you so many times, so this Mother's Day, treat her to a special brunch. The whole family can enjoy everything from strawberry waffles with a cappuccino to a succulent plate of crabs' legs paired with a Mimosa."

 

Take a Breath…Plan your Future.

We made it to April 15th!  Hooray, tax season is pretty much in the rear-view mirror now and it is time to make other financial plans.  One of them may be to choose the correct business entity.  2018 may be the year when you embark on that journey of self-employment.  The economy is better in the Las Vegas area and the time may be right.

Here are some mistakes to avoid when choosing a business entity –

1.  You must fully understand the tax implications of each one.

2.  Don’t make the mistake of thinking you do not need a formal entity.

3.  It will not protect you against all risks.

4.  An out-of-state incorporation probably will not save you much, if any money.

5.  Not having a rock-solid agreement with your partners.

So, take a breath and as soon as possible make an appointment with Michael Mathews.  He is Las Vegas’ professional entity planner.  He will guide you down the path in being a successful business owner in 2018 and way beyond.  Now is a great time to make an appointment at 2620 Regatta Drive Suite 102 with Michael.  Call (702) 240-5237.

Things to do in Las Vegas, April thru June

Things to Do in Las Vegas in Spring 2018 – April to June Activities & More

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"If you’re looking for things to do in Las Vegas in Spring 2018, check out our list of some of the best activities and attractions."

Owning your Own Business Changes Everything.

Remember when your time was regimented?  You had, say a 40 hour work week.  You clocked in on Monday and out on Friday and walked away from any other responsibilities regarding your job or the company you worked for.  Now, you have made a monumental personal decision and started a business of your own.  You go Mr. or Ms. Entrepreneur!

You probably should keep your business finances separate from your individual finances, which means a lot more paperwork.  This is time which equals money if you try to do it all yourself.  You could start a 401k to contribute funds toward retirement.  Before you know it, you have manila envelopes full of receipts everywhere!

Stop this endless string of unnecessary extra work as soon as you can.  I know it is the beginning of April, but what better time to get your personal and business tax situation under control for the remainder of this year and those to come?  When you get a minute call me, Michael Mathews a Las Vegas business and personal tax manager and CPA, for an appointment at my office located on Regata Drive.  That number is (702) 240-5237.