S-corporations, like partnerships, are pass-through entities. That is, there is no federal income tax levied at the corporate level. Instead, an S-corporation’s profit is allocated to its shareholder(s) and taxed at the shareholder level. Form 1120S is the form used for an S-corporation’s annual tax return. (This makes sense, given that Form 1120 is used […]
There are many ways to finance your business, including loans backed by the government and funding programs. Loans Government loan programs offer financial support to business owners who may have trouble qualifying for a traditional bank loan. Banks and lending institutions that participate in these programs provide loans guaranteed by the government to start or […]
Debt consolidation is a financial strategy, merging multiple bills into a single debt that is paid off by a loan or through a management program. Debt consolidation is especially effective on high-interest debt such as credit cards. It should reduce your monthly payment by lowering the interest rate on your bills, making it easier to […]