Stephen Nelson's Articles - ABC Article Directory | Submit Articles | Article Search Engine

Stephen Nelson's Articles

Display Category\|Title\|Newest\|Oldest
Financial Planning Miscalculations in Dave Ramsey's Books Author, television show host and general good guy Dave Ramsey provides lots of useful financial planning advice for people in trouble But one CPA points out that, for some individuals, Ramsey's information leads to financial miscalculation. Accounting Setup Tips for Limited Liability Companies Small business owners can complicate their accounting beyond their ability or their bookkeeper's ability to handle. CPA and author Stephen L. Nelson provides some tips for avoiding this minor bookkeeping disaster. Tips for Starting a Home Based Internet Business A well-known small business accountant identifies five techniques for identifying possible Internet home based businesses you might start When Do I Have to Pay Income Tax on My S Corporation? S corporations are designed to avoid corporate income tax, but in some cases even S corporation owners will have to pay income tax on their business. Learn when this is the case and how to avoid such taxes from Seattle CPA and bestselling author Step You May Have to Pay Income Tax on Your S Corporation S corporations are designed to avoid corporate income tax, but in some cases even S corporation owners will have to pay income tax on their business. Learn when this is the case and how to avoid such taxes from Seattle CPA and bestselling author Stephen L. Nelson. Why You Don't Want to Invest in Real Estate Through an S Corporation Real estate investors regularly make a terrible mistake when setting up a company to hold their investments... they choose an S corporation. A tax accountant explains just some of the reasons this choice creates problems. Maximizing Your S Corporation Tax Benefits through the Recesssion S Corporations now count as the most popular incorporation choice for small business corporations. But while the S corporation classification saves entrepreneurs taxes in a healthy economy, business owners need to take several tax planning precautions in a recession, as this article explains. Starting a Business Checklist A recession may be a great time to start your own small business. But refugees from the corporate world may not know how to get started. Fortunately, in this short article, a small business CPA outlines the basics. Setting Low S Corporation Salaries S corporations save their owners taxes by grinding down the heavy payroll tax that owners pay on their profits. But the small S corporation needs to be careful... set a shareholder-employee salary too low and the planned-for savings may trigger an IRS audit. In this article, CPA and tax professor Stephen L. Nelson discusses how long you can go... Protecting a Business Through LLC Incorporation For the small business owner, a limited liability company provides better legal protection than a regular corporation and at a lower cost. CPA Stephen L. Nelson, author of the bestselling books Quicken for Dummies and QuickBooks for Dummies explains... Tax Myths about Incorporating a Small Business New business owners sometimes believe the goofy urban myths about how incorporation can save the small business entrepreneur income taxes. In this short article, CPA and tax professor Stephen L. Nelson explains which bits of tax law lore are false and shouldn't be used in making the decision to incorporate. Limited Liability Company Myths Thinking about forming a new business or venture as a limited liability company? Don't let one of the common LLC myths corrupt your decision-making, says CPA and author Stephen L. Nelson. The Psychology of Business Planning Blunders Planning a new venture is always tricky. But entrepreneurs can ease the planning process and improve the final result by avoiding some common psychological traps. Incorporation Blunders: Tax Mistakes No Business Owner Wants to Make Incorporating a small business can save the business owners thousands of dollars annually in taxes. But in order to safely harvest those tax savings, the corporation needs to avoid some common mistakes. Year-end Accounting To-do List for S Corporations S corporations can save their owners thousands of dollars a year in taxes--which explains their popularity among small business entrepreneurs. Unfortunately, S corporation year-end bookkeeping can confuse and befuddle new and experienced S corporation owners. Use this checklist to simplify the year-end process. Understanding the "Limited Liability Company versus S Corporation" Question Small business owners and entrepreneurs sometimes find the LLC vs S corporation question confusing. But one tax professor says the question is easy to answer if you understand how LLCs work. Tips for S Corporation Business Planning According to the Internal Revenue Service, S corporations represent the most popular form for doing business in the United States. That popularity isn't surprising given the tax benefits of using an S corporation. But the popularity does mean that entrepreneurs need to understand what's different about business planning for an S corporation. This article does just that. Business & Tax Planning for the Obama Presidency Whether you voted blue or red, if you're a small business owner, you probably want to plan now to reduce business taxes you pay under an Obama presidency. CPA Tips for Firing a Financial Planner Do you really need to pay a financial planner five, ten or twenty thousand dollars a year to help you with your personal finances? Some CPAs say "no," as this article explains. Forming a Professional Service Corporation Are you a professional--a doctor, dentist, engineer or accountant--interested in incorporating your practice? Use these tips for making the process easier and safer. Professionals Guide to Forming a Limited Liability Company Small businesses and entrepreneurs often minimize their liability and save taxes by using a limited liability company. Unfortunately, the rules get tricky for professionals (doctors, lawyers and others) who want to take advantage of the LLC option. This article suggests five tips for making the professional LLC setup process clean and error-free The Successful C Corporation Owner's Tax Blunder Successful business owners operating as C corporations often make a terrible tax blunder--they decide to do their investing inside the business. A tax professor and CPA explains why this mistake is such an expensive error--and what the business owner can do to correct the problem. Seven Great Tips for Incorporating in Florida Thinking about incorporating in Florida? Consider these seven tips says one small business accountant to make incorporation easier and most beneficial. Can You Setup Shop as an S Corporation? Subchapter S corporation status often saves the small business owner thousands of dollars a year in taxes. But tight eligibility rules mean some small businesses can't qualify. In this article, a CPA explains who can and can't take advantage of S corporation status.