A Free Tax Consultation for Your Business

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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. 

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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).
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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

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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).

 

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Operating as a Sole Proprietorship?

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It’s a safe bet that you started your business to succeed and make money, not to add stress to your life and lose money.

To cut to the chase, operating as a sole proprietorship is NOT the fast track to success – in fact, it’s the shortest path to join the 95% of businesses that fail in the first 5 years.

To be fair, you probably made this choice for one of three logical reasons; (1) you were looking for the easiest and cheapest way to get started, (2) you wanted to test the waters to see if your idea would make money, or (3) your tax advisor told you to keep it simple and go the sole proprietorship route until you earn more than $40K to $50K in profits.

Risk taking

Unfortunately, that decision sends a different message to the rest of the business world:

“I don’t believe in myself, my product or my service or I don’t expect
to make $40K in profits.”

For going on two decades now, I’ve helped over 6,000 entrepreneurs reverse that message, escape the sole proprietorship trap and make a fast start to profits. Here are just a few of the strategic insights that woke my clients up to the money they were leaving on the table:

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Sandy Botkin on 2012 Tax Law Changes for Business Owners

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Mark your calendar for Tuesday February 14th at 4 pm PT/7 pm ET for the February 2012 Top 5% Club Teleseminar.

You will learn how the new tax law changes may affect your business and what you can do to maximize your business deductions and keep more profit in your pocket (not the IRS).

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Access this training by joining the Top 5% club: http://www.nvinc.com/Top5PercentClubCoachingProgram.htm

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Even if you are not making profits, you must learn how the new tax changes may affect your business and how to track your expenses and losses to be in a position to properly use them to offset any earned income in 2012. If you are profitable (good for you) learn how to give yourself a “raise” by legally lowering your taxes.

On Tuesday, February 14th,  I’ll be interviewing Sandy Botkin, CPA/attorney and author of the best-selling book “Lower Your Taxes Big Time.”

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When to Shut Down Your Entity and Start Over

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Is your business not turning out the way you planned? You may have had to go back to work for someone else to bring in money for you and your family. This happens all the time. Is business slow and you are contemplating that move as well? You set up a separate legal entity for your business with one of the primary goals being to protect the revenue that would come from your business. Do you shut down and dissolve that entity or keep it active for another business opportunity?

Let’s discuss your options:

Situation #1: Your first business did not work out and you plan to look for another opportunity in the upcoming months.

Solution: Do not shut down your entity. You can use the same entity for a new business. Corporations typically have the wording “engage in any legal business activity” which means it can be direct sales one day, and internet marketing the next. You have flexibility. The LLC articles do not even discuss the business purpose. It is internal to your operating agreement.

Exception: The entity had a partner and now you are on your own with the new business. You never want to start a new business in an entity with an existing partner; if you make a lot in profits, it is possible that your “old partner” may come out of the woodwork to “collect” some money. Meaning, they may claim they are still “officially” your partner and they own 20, 40, 50…percent of your company and they want to be paid. Can you say, “lawsuit”! It happens all the time. In this case, spend the money to form a new entity.

Another exception would be if the past business has a lot of liability and the next business is going to be a big cash cow. I would recommend forming a new entity for that case.

Situation #2: Your first business did not work out and you are not planning to go into business again for 1-2 years.

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