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What is IRS Form 1095-C

WebLearn about IRS Form 1095-C and its purpose in this comprehensive tax form library. Understand employer-provided health insurance coverage and stay compliant …

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URL: https://www.dimercurioadvisors.com/learning-center/tax-form-library/1095c

Best practices for separating personal and business finances

WebThere are three main steps to officially separating your personal and business finances: Registering your business as an LLC and opening business bank accounts. …

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3 ways to save on taxes for small businesses DiMercurio Advisors

WebThere are hundreds of different ways to save on taxes that vary on your size, industry and tax classification. But there are three things every small business owner can …

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What is IRS Form 1095-B

WebUnderstanding the purpose of a tax form or schedule is never a pleasant experience. That's why we created a comprehensive tax form library, showcasing the …

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When you should file a tax return DiMercurio Advisors

WebTherefore, all individuals who received an APTC must file a return to reconcile the advance payments with the actual credit amount, even if their income is less than the …

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How to report benefits as an S corp owner DiMercurio Advisors

WebThere are two main groups of people that need to report their benefits on their W-2: Greater than 2 percent owners of S corps. Employees who are family …

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What is reasonable compensation for S corps

WebReasonable compensation refers to paying S corp owners a salary — which is separate from taking distributions from your company. The IRS says you don’t have to …

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When to fund your business with equity or debt

WebThe answer depends on your business’ financial health and long-term goals. When you're looking to expand and grow your business, you'll almost certainly need …

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4 things to do before selling your business DiMercurio Advisors

WebBefore you sell your business, focus on improving its financial health and adding value to it. When you sell up, you want your business to have as much value as …

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How to create a cash flow statement DiMercurio Advisors

WebYour cash flow statement gives you a valuable measure of cash flow in and out of the business over a given period of time. It shows the ability of your business to …

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What are adjusting journal entries

WebEssentially, an adjusting journal entry is a type of journal entry posted to your reports near the end of the year in order to get everything accurate, up-to-date, and easy …

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4 ways to reduce your business debt DiMercurio Advisors

WebGetting proactive with your credit control can help you improve your credit score and tackle your business debt. Having a large amount of debt in your business …

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Sole proprietor or independent contractor

WebAn independent contractor is a self-employed person who performs work for another entity (person or business) as a non-employee. Specifically, an independent …

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Cost of a bookkeeper for small businesses DiMercurio Advisors

WebCost of an in-house bookkeeper. Range: Around $900 to $2,000 per month (for a part-time bookkeeper) An in-house bookkeeper is an official employee of your …

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Important documents everyone should think about DiMercurio …

WebA will. You might think wills are for aging and wealthy gentlemen in mystery novels, but this is a document every adult should have. A will is a legal document that …

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How to make reading financial reports easier DiMercurio Advisors

WebVisual reporting software restructures the data from your income statement and balance sheet in an easier-to-read and more useful format. Without reporting …

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10 things to check your books for before tax season [Checklist]

Web3. Check that transactions are categorized correctly. Your books have different accounts that may be treated differently for tax purposes. Make sure that your …

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