Tag: IRS

A Free Tax Consultation for Your Business

Time is running out to schedule your appointment to review your business tax situation. 
Go to http://budurl.com/TaxConsultation to Schedule it now to get support first (appointment are first come first serve and will fill out fast).
This is an important message for your entity that has a return due on April 15th (any partnership including LLCs taxed as partnerships), plus of course a schedule C and your personal return.

Since the these tax returns are due in a only a few weeks away it’s very important that you touch base with your CPA/accountant to prepare and file your return. 

Schedule Your FREE TAX CONSULTATION (A $199 Value)  with the Corporate Tax Network a company
NCP has partnered with to help make your life less taxing.

Go to http://budurl.com/TaxConsultation to Schedule it now to get support first (appointment are first come
first serve and will fill up fast).

If you want the inside story on how to maximize your deductions for meals, travel, entertainment and other business expenses, please feel free to contact NCP directly at 1 (888) 627-7007. Tax-saving and record-keeping solutions is just one of the areas where NCP can support you with a complete foundation for business success. We’ll be happy to answer an additional questions you have.

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Watch this FIRST, Before Forming an LLC or Corporation

If you’re looking to form an LLC or corporation you must watch my BRAND NEW training to help you learn the 5 Essential Components of a Complete Business Foundation.
Why is this so important? Here’s what my friend, Attorney Lee Philips, said about businesses that rely on online articles of incorporation as their only form of legal protection:
“We slice through those in 15 minutes in court and go after the individual every time. That piece of paper provides NO protection!”
This is a direct quote from a legal expert who has served as counselor before the Supreme Court and tried many cases representing plaintiffs. His courtroom experience has shown him that most business owners have no clue what complete formation entails.
Over the last 16 years my company, NCP, has helped thousands of entrepreneurs launch with confidence. Our COMPLETE FORMATION PROCESS ensured that they were starting out with more than just a flimsy piece of paper that provided no protection.
Lee’s comments inspired me to take our training to the next level – we want every NCP client to be CLEAR beyond all doubt what it takes to form a complete and secure business foundation. The result is my  BRAND NEW training called, the 5 Essential Components for a Complete Business Foundationand now you get access to it for FREE (for a limited time).


You may be shocked to discover that your existing LLC or corporation may offer NO protection for you or your financial future. Here’s what you’ll learn in this valuable webinar:

  • Have you already incorporated? Find out why accountants, lawyers or tax specialists sometimes give the WRONG incorporation advice to small business owners.


  • Think incorporating is too expensive? Many are surprised to learn how affordable it is to form a complete entity that’s certain to protect you and stand up to IRS scrutiny.


  • Too busy to get it done this year? Find out why it can cost you more in taxes and nearly double your paperwork if you wait until January to make your business official.


  • Waiting to see how your business does before you incorporate? Let your partners and customers know that you’re serious about success – protect your profits now!

 In less than one hour, I’ll get you up to speed on things that most entrepreneurs take years to learn (if they get them right at all, even with the best professionals on retainer). I’ll give you the straight story on why the IRS specifically goes after certain types of small businesses and what you can do to hang on to what’s yours. Every strategy is field-proven by entrepreneurs around the world.
 Establishing your goals for the new year? Don’t start the year with a shaky foundation and attempt to build wealth on top of it. Nothing is worse than achieving success and then losing it all to some hidden – and preventable – threat in the future.
 Go here to register for my BRAND NEW training. Feel free to forward this invitation and share it with your friends, colleagues and professional advisors – they’re welcome to join us too!
 Dedicated to your success,
 Scott Letourneau, CEO
 P.S. Especially if you already have an LLC or corporation I would strongly recommend you watch my new training to make sure you’re in compliance – and what to do if you’re NOT so you can protect yourself before it’s TOO LATE!
 Here’s just a brief taste of what you’ll learn on the webinar:

  • Why a sole proprietorship is the most costly and risky structure for your business (and why it is costing you JV opportunities).
  • Why waiting to form a new LLC could mean extra taxes.
  • Why your professional advisors are NEVER on the same page.
  • Why the IRS specifically targets schedule C filers for audits
  • How to be confident that you’re operating as a business (not a hobby) by IRS standards
  • How and LLC is taxed and what factors must you consider before filing.
  • Which state is really best for your business and what does not work (no one online will tell you this information).
  • How to put more money in your own pocket instead of losing it to the IRS (and why your CPA will not help).
  • How to secure funding to grow your business and what really works.
  • The fastest, most cost effective way to grow your business ever, PERIOD!


Don’t wait… register now to get all this and more for FREE: http://budurl.com/LaunchWithConfidence  

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7 Important Reasons to Form a Corporation or LLC for Your Business.

Are you operating your business as a real business or as a hobby? It’s time to make your business OFFICIAL before the summer push for business!
Let me ask you two important questions:

  1. Are you operating your business under your own name, a DBA or fictitious firm name, basically as a sole proprietorship or maybe as a general partnership? AND/OR
  2. Are you or your family at risk because of business or personal assets that are unprotected from unexpected losses or legal issues?

If you answered YES to either question please read on for important news about why NOW is the time to form an corporation or LLC for your business.

  1. Make it Official. Operating as a sole proprietorship or general partnership sends a message that you are still “testing” your business, or that you’re not sure you’ll really make it. Perhaps your accountant told you that incorporating is an unnecessary expense or that it won’t help you save on taxes due to an expectation of low profits. This is the WORST marketing message you can send when you want to attract new clients and partners to your business, who want assurance that you’re about your business and here to stay.
  2. The Law of Attraction. You get what you focus on. Testing, hoping and “seeing if things work out or not” BEFORE you decide to step-up and make your business official by incorporating broadcasts a clear message to the universe that you’re not really serious about your business or committed to a positive outcome. The Law of Attraction states that the universe returns not what you wish for, but what you program into your deepest belief system through your dominant thoughts, actions and feelings. Making your business official and really stepping up says, “I am ready to receive!”. 
  3. Limited Personal Liability. You may be thinking “I already lost everything in the market collapse from 2008” and still recovering. If you’re one of the few that managed to survive and grow your assets since then, but are still holding them in your own name, you’re playing a VERY RISKY game (similar to those with assets in unstable European banks). Even if you don’t have any assets right now, a lawsuit or judgment will destroy any credit you are looking to build in the future PLUS you may be looking over your shoulder for years waiting for someone to come after you when you finally do start to turn things around. That’s no way to live your life. One lawsuit from an unprotected business can ruin your chances of getting a personal auto loan or refinancing your home. Good people who “play by the rules” can still be sued for the most unexpected reasons. You may be thinking “my business insurance will help me out” but are you really covered? Even if your business is never sued, what if you’re unable to pay a vendor and they come after you? Do you want to be personally liable? Put a halt to greedy people looking to take what you have worked for! This is the best time to form an LLC or corporation to limit your personal liability.
  4. Reduce Your Taxes. The bottom line is that operating as a sole proprietorship will cost you the most in employment taxes (up to 15.3% on earned income up to $113,700 in 2013). That means that your income will be taxed as the HIGHEST possible TAX RATE as a sole proprietorship. By the way, filing a Schedule C (the form filed for earned income from a sole proprietorship) also means that your business is among those MOST LIKELY TO BE AUDITED. Why? The IRS has a $300 BILLION tax gap and they believe the biggest tax cheats are the little business owner like you. Why? Their stats show them that sole proprietorship are MOST likely to UNDER report their income and OVER report their expenses (two big no-no’s with the IRS). Operating as an S corporation or LLC taxed as an S corporation in many situations is a much better approach for two reasons. You will have part of your profits as distributions which are NOT subject to the 15.3% employment taxes AND move that profit to schedule E, not schedule C which is more likely to be audited!
  5. Access More Funding Options. Operating as a sole proprietorship or general partnership limits you when it comes to funding options. You are also DAMAGING YOUR PERSONAL CREDIT SCORE by operating this way. How do you finance your business as a sole proprietorship? You use your PERSONAL CREDIT cards which will drive up your revolving debt which will in turn DRIVE DOWN your personal credit score! When you form a corporation or an LLC you will SEPARATE your PERSONAL and BUSINESS CREDIT. Yes, any type of cash funding with a personal guarantee will come into play, but that DEBT does NOT show up in the personal credit bureau which is HUGE for future funding! As you form a new LLC or corporation NCP will help (if you choose) to build your business credit scores quickly and get your business in a position to secure funding to grow. But the first step is to form a separate legal entity.
  6. Simply Your Life. Yes, in fact operating as a sole proprietorship will complicate your life, not the opposite. Separating your business and personal life will make it much easier for you to navigate both from a financial and legal point of view. Now you will have each in its own compartment where it belongs to protect your overall success.
  7. Asset Protection. Forming an LLC for your safe assets like investments (those outside a retirement plan) will help you sleep better at night knowing you don’t have all your “eggs” in one basket. If you are using a LIVING TRUST to protect your assets that will NOT work and everything in your trust may be vulnerable. Do you own other businesses that really should be operating through a separate bank account in a separate entity? Do you own real estate in your own name that may be sending a message that you are rich and have assets worth taking? Have you been in business for years or are you operating more than one business in one entity? Are you doing some business with a new partner and making the big mistake of running that revenue through your current business? Avoid these costly mistakes and form a separate company for that separate business.

Do you need support in forming a corporation or LLC? Not sure what entity or state is best? Call Nevada Corporate Planners, Inc.  at 1-888-627-7007,  the company I founded. We incorporate in all 50 states and have amazing support and turn key packages to help you also with building business credit and helping keep the IRS off your back!

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How the IRS Knows You are Operating a Hobby, Not a Business.

There are many business opportunities to earn an extra income or a full time income.  Many will turn to a direct sales or networking marketing opportunity.
The direct sales and networking marketing industry is a popular option for many because it allows for low overhead and the opportunity for a high income, if and only if, you run it as a business. That part is a challenge for most and many times the difference between success and failure.
Now, the key is NOT your definition of what running a business entails, but what the IRS says about it.
The IRS had a $300 BILLION tax gap and they know there are suspicious activities for which individuals will start a “business” where really it was a way where expenses that where incurred could be written off as a loss against earned income… (not a real business, just a way to justify money you would have spent anyways so now you want to turn it into a tax write off).
On the list of IRS suspicious activities include:

  • Fishing
  • Horse Racing
  • Entertaining
  • Photography
  • Direct Sales/Network Marketing

Why is direct sales/network marketing on the list? The IRS knows the pattern for this industry and why 95% are really running a hobby and not a REAL business:

  1. No accounting records from the start of the business, including a budget, profit and loss, cash flow…An accounting program like QuickBooks® can do all of this for you and more. You can manage your personal budget and finances or other businesses all in one place. A real business will want to know where they are at from month one (even with no sales).
  2. No 5 year business plan. Do people complete business plans for hobbies? No. They just enjoy the hobby and based upon their personal budget decide how much money they can spend on the hobby, sometimes it is more and sometimes it is less. But there are no revenue projections because they do not expect to either make a lot of money or any at all from the hobby. A real business will have a business plan with 5 year projections (even if you do not have any idea, at least it forces you to put numbers to a plan).
  3. “Let’s wait and see if we make any money first” or “Let’s try it first”. This language says to the IRS, ‘I am not planning to run this as a real business, I am not willing to set it up as a real business, I am really going to operate it as a hobby (the other option) and if, and only if, I see that I am making money, then I will do the other parts necessary to operate as a business’.

As you know 95% of small business owners fail within 10 years, 50% or more the first year, and this mind set “attitude” is the #1 reason for these sobering statistics. It is like saying, I am planning to fail, but if I get lucky and it “really works” then I will do the other things I am suppose to do…It does NOT work this way and the IRS knows it.
Your Solution:

  1. Run your business as a business starting today.
  2. Get a tax and bookkeeping program, get the training to set up your books properly (and go back and enter the numbers if you started 5-6 months ago) to see what has really happened up until this point.
  3. Develop a 5 year business plan moving forward with projections.
  4. Develop a comprehensive budget for both you and the business in 2011.
  5. Make a real decision that you will run this as a business and do whatever it takes to be success!
  6. Stop operating as a sole proprietorship (make 2012 the last year you file a Schedule C -300% more likely to be audited). Your goal is to get off that track ASAP.
  7. Form a separate legal entity for your business.
  8. Separate your personal and business credit.

Nevada Corporate Planners, Inc. has been helping small business owners incorporate with confidence since 1997. NCP incorporates in all 50 states and does so much more.
In fact, NCP can help you in all 8 items listed and make it very simple for you so you can focus your energy on building your organization and residual income.
Call Nevada Corporate Planners, Inc. at 1-888-627-7007 for a free consultation and we answer your questions and walk you through all the fees and services. Go to www.nvinc.com to receive our free training, Incorporate with Confidence and Keep the IRS Off Your Back!
2012 © Nevada Corporate Planners, Inc. All Rights Reserved.

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Step 6: Fast Start to Joint Ventures!

Rest assured, when you choose NCP for your entity formation, you’re putting yourself in the hands of a full service company that cares about the entire you—personally and business-wise!
All of us at Nevada Corporate Planners are looking forward to the opportunity to help add even more value to your business, your clients, and your associates!
I’m sure we all agree that we operate in an extremely competitive marketplace. As a business owner, I know that like us, you’re constantly searching for the edge that will separate you from your competition.
That doesn’t mean that you must endlessly recreate the wheel.  It does mean that you need a value-enhanced strategy that optimizes and preserves your past efforts, while moving you forward to the next level.
Go to www.nvinc.com/StrategicAlliance and hear an audio overview by our CEO, Scott Letourneau, on two programs (teleseminars/webinars) that can be used to help your business grow!!!
That means that the lifetime value of your client is a paramount consideration in your business’ strategy.  Properly guided, your investment in obtaining that client can and should compound over the time they remain with you — the longer they continue as your client, the more valuable the relationship.
But how do you constantly come up with new, innovative ways to secure their loyalty without straining your time, effort and resources — and at the same time, continuously secure new clients?

What Are The Best, Lowest Cost Ways To
Grow Your Business Today?

Here’s the good news:  You need not “go it alone.”
One of the best ways to strengthen your competitive advantage with as little cost, effort, downside or risk as possible is through strategic alliances with other companies.
By leveraging the power of their assets… their experience… their resources… you add enormous value to your own offering.  You’ll not only maximize your existing clients’ lifetime value, but you’ll multiply your new clients as well.
We’d like to join you in a compounding strategy that makes you virtually invincible.

How NCP Will Help You Attract Clients By The Boat Load, Leaving
Your Competition in The Dust!

Here’s how NCP can help you, your clients, and the businesses you work with:
You will benefit from our turnkey method focused on building strategic alliances, strengthening the positions of each associated company.
You will receive e-mails, sales letters, strategy, free reports… We’ll also show you the BEST ideas to maximize your results… and resources!
Our tactics and strategies are not only focused on helping you (and in turn, adding more value for your clients), but as you introduce more businesses to NCP’s business-building, turnkey method, you’ll create your own “member network” and receive a referral fee.
That’s 100% all profit for you — No COGS with referral or affiliate fees. PURE PROFIT!
Marketing Ideas on How to Add More Value to Your Business:
We could do a teleseminar or webinar where you interview me, Scott Letourneau (go to http://www.nvinc.com/aboutncp.htm to read more about our company and CEO) and we extend a special offer.
I’ll present valuable information on these provocative subjects:
How to help your members incorporate their business and keep the IRS off their backs!
How to develop business credit and get more cash for your business (this is one of the hottest subjects in the country). The number one reason business owners fail is lack of cash flow. It is harder than ever for business owners to obtain cash. The good news is we can do a powerful teleseminar or webinar for your group to help solve this problem! Imagine your members having access to more capital to be in a better position to purchase more of your products and services!
I have a free 96-page report, “The Insider’s Guide to Incorporating Your Business and Protecting Your Assets,” that could be sent as a bonus to any of your members, or to those that log onto the teleseminar or webinar.
I have another free report on “The 20 Costly Mistakes Made Before And After Forming A Corporation Or LLC”.
We could add a Teleseminar or Webinar to your clients as a bonus to one of your current programs which could be recorded, archived and replayed in the future, perhaps in your office for future members to view.
ü And, we are open to any of your ideas.
*  For example, NCP has a new program for both personal and business credit that accelerates both. This concise program helps business owners get access to more money for their business, allowing them to invest more in products or services that can jump-start a whole new level of success.

There Is NO COST To Your Company!

Remember, we’ve done all the heavy lifting for you.  We’ve designed provocative, result-grabbing e-mails, sales letters, strategies and free reports… we’ve orchestrated success-proven webinars and teleseminars.  And it’s all set to go, waiting for YOU to reap the benefits.

This Is A TURN-KEY Program That Will Take
Less Than 30 Minutes To Implement!
Best of all, when you introduce another company to us that becomes part of our business-boosting program, you receive:
• Referral fee back to your organization!
• 10% referral fee on any service sold to your membership.
• 25% affiliate free on our new business credit program!
Let me know what the next step will be in your process. I am looking forward to working with you on this project!
Step 7: Visit our Fast Start Blogs and Leave Your Comments:
www.FastBusinessStartUp.com and www.FastBusinessCreditSecrets.com plus receive access to many powerful, FREE strategies to protect and grow your business!

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