What is Form 1023? To be exempt from federal income tax, organizations must receive a determination letter from the IRS. The IRS only gives a determination letter after receiving adequate proof that an
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New beneficial reporting requirements under the Corporate Transparency Act become effective January 1, 2024, and will require small business to report information about their owners. Congress’s aim is to prevent criminals, terrorists, and
Cash flow measures how much cash is flowing in and out of a business, and a positive cash flow is one of the strongest determinants of a business’s success. It shows that a
Business owners who are interested in forming a new limited liability company (LLC) or converting their existing business to an LLC are probably familiar with the benefits of this entity type. While the
Last week our own Doug Davis was a guest on WNIS radio's "Ask the Expert" show. WNIS has been providing live local news, talk shows and nationally syndicated shows to Hampton Roads listeners
The internet has been a game changer for small businesses, allowing them to reach new markets, hire nonlocal talent, and compete with larger companies. Not having an online presence where customers can discover
Before you can start your nonprofit and begin making an impact, you first have to take important legal steps to ensure your tax-exempt status and other internal decisions are up to your state’s
You have invested your money, time, and sweat equity to build a company that will be successful for years to come, but even if you make all the right business moves, unexpected costs
While the process of incorporation is not required for a church to function, there are situations where it may be a good idea for both the leaders and congregation of a place
The April tax deadline is not the only important fiscal date for small businesses. Many people who own businesses must also make estimated tax payments throughout the year, but your accountant can help
