Author's articles
Skip These Business Incorporation Scams
By Stephen Nelson · 15 years ago
Small business incorporation can make wonderful legal and tax sense. No argument.
But new entrepreneurs need to know that a handful of incorporation scams often ensnare small businesses. And that is truly unfortunate. Getting entangled ...
Can You Operate as an S Corp and Save Taxes?
By Stephen Nelson · 15 years ago
More than 350,000 new S corporations are set up each year--and that's really not all that surprising. An S corporation doesn't pay corporate income taxes, which can take a huge bite out of profits. Further, ...
The Big Hidden Tax Benefits of Sole Proprietorship
By Stephen Nelson · 17 years ago
I once taught a graduate tax class about choosing between an LLC and an S corporation. Probably for this reason, people frequently ask me about which entity form they should chose. “Is an S corporation ...
Tax Traps for New Real Estate Investors
By Stephen Nelson · 17 years ago
Perhaps one shouldn’t be surprised that new real estate investors fall into the same tax traps again and again. Real estate burdens investors—especially new investors—with some tricky tax accounting.
But just because some other newbie ...
Tax Tips for IT Consultants and Contractors
By Stephen Nelson · 17 years ago
I live and work, quite literally, down the road from the main Microsoft campus. No surprise, then, that I’m commonly asked by freelance consultants for the best ways that these self-employed independent contractors can minimize ...
Tax Tips for Writers & Authors
By Stephen Nelson · 17 years ago
Sometimes, another writer, upon learning that I'm both a book author and tax accountant, asks me for the best ways that authors can minimize their income taxes.
If I can, I try to weasel my ...
Tax Tips for New Ecommerce Entrepreneurs
By Stephen Nelson · 17 years ago
New ecommerce entrepreneurs can find them confused and confounded by the tax and accounting requirements of their venture. And that’s a shame: If someone’s spotted a great new category and successfully built a web presence, ...
S Corporation vs. LLC: Which is Better?
By Stephen Nelson · 17 years ago
"S Corporation or LLC?" is a common question for new business owners. I have several people call me each week asking this.
I always tell them the question is impossible to answer. And here's why. ...
Should You Use an LLC for Your Small Business? Probably--and Here's Why
By Stephen Nelson · 17 years ago
Accountants and attorneys love limited liability companies. But do limited liability companies—LLCs for short—really make sense for small business owners. Probably. And for two almost unknown reasons.
The Big Legal Benefit of an LLC: Limited ...
Forming Your LLC in Nevada: Does It Really Work?
By Stephen Nelson · 17 years ago
If you’ve done much web research about setting up a limited liability company, or llc, you’ve seen the advertisements that tout Nevada. The pitch is pretty simple. Because Nevada doesn’t levy an income tax on ...