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FAQs on Limited Liability Company (LLC)
FAQs on Limited Liability Company (LLC) A Limited liability company (LLC) is a business structure that offers restricted obligation insurance and pass-through tax assessment. Likewise, with companies, the LLC lawfully exists as a different substance from its...
What is a Trust Company?
What is a Trust Company? A trust company is a legal entity that serves as a trustee on behalf of a trust of a person or organization. It is typically tasked with the administration, management, and the eventual transfer of assets to beneficiaries. Rather than choosing...
The Corporation
What is a Corporation A corporation is a group of people that have met the legal requirements needed to act as an independent legal entity, separate and distinct from its owners, as recognized by law. It is the most common form of a business organization and may act...
What is a Non-Profit Organization?
What is a Non-Profit Organization? A non-profit organization (NPO), or a foundation, is a business but is established for a more significant social cause. It is born out of the owners' strong advocacies, and because of this, it impacts significantly on the general...
LLC: Limited Liability Company
LLC: Limited Liability Company A Limited Liability Company (LLC) is a business wherein owners are not personally liable or accountable for the company's debt and liabilities. The business owners have personal asset protection with pass-through taxation. LLC is a mix...
The Income Statement
One of the three most important financial statements is the Income statement. It is where revenues, expenses, and overall profits or losses are reported for only a specific period. Here, all the costs that contribute to the final earnings are evident, which is also...
Home Office Deduction
The COVID-19 pandemic has immensely surprised us all. From what we thought will be a month-long lock down already became a half-year. It has paralyzed almost every affected country's economy, bringing significant suffering to those who are already struggling...
PPP Loan Forgiveness
The Payment Protection Program (PPP) has been launched by the Congress, under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) since the pandemic has begun. The program aims to provide a loan for eligible small businesses to maintain the payroll of...
Rise of Women Entrepreneurs
“You educate a man; you educate a man. You educate a woman; you educate a generation.” Brigham Young Let’s face it, the workplace is unequal! But Female Entrepreneurs is on the rise. Today, women now account for over 40% of the new American businessmen. In 2017, CNBC...
Reopening of Pennsylvania Economy
Governor Wolf wants to ease some pandemic restrictions on May 8 in selected areas of Pennsylvania that have been slightly impacted by the new coronavirus. Though there is no timetable and metrics yet, the governor said he would lie down more concrete steps next week....
The Importance of Bookkeeping
Bookkeeping is an essential part of operating and managing a succesful business. It’s the systematic recording and organization of a company’s financial records and it plays a vital role in any business’ financial health. Yet still, many businesses fail to incorporate...
PA Stay at Home Order and Other Information on Re-Opening the Economy
Governor Tom Wolf said Monday that a statewide stay at home order will remain in place until Friday, May 8 for certain counties in Pennsylvania. Although PA has made sufficient progress in flattening the curve of the COVID-19 virus, major counties, such as...
Preparing for Lay-offs? – Navigating the Job Market During Uncertain Times
Preparing for Lay-offs? - Navigating the Job Market During Uncertain Times The Covid-19 pandemic is forcing nationwide lockdowns and it's no secret that nearly every industry has been negatively impacted. Because of this, businesses are laying people off at an...
Corona Virus Stimulus Relief For Business Owners
The Coronavirus or COVID-19 is a deadly virus which has spread unexpectedly throughout the world. This pandemic threatens not only the lives of millions of people but also their means of living. It is indeed a very difficult time, but the government is here to provide...
