Archive for Business Formation

Tax Deductions for Home Office

Apple, Amazon, Yankee Candle, and even Google all started with a home office. In the digital age, home offices are becoming more common and more feasTax Deductions for your home officeible. This allows business owners to keep operating costs low and have a flexible schedule.

Another benefit of a home office is tax deduction. Not every home office will qualify, but a lot will and usually businesses that have a home office will take any tax break it can get.

There are two main requirements the IRS has for the home office tax deduction. read more

How to Form a Partnership Agreement in Oklahoma

Forming a new business with a partner can be so exciting. In the rapidly approaching year of 2016, plenty of brave entrepreneurs will join forces with another intrepid soul to form a business partnership. Often life long friends will band together and try to dominate the market. While things in the early stages can seem bright and rosy, partnerships end up dissolving all the time.

There are lots of reasons a partnership can fail. It could be a difference of opinion, an unexpected health concern, a sudden family emergency or even something malicious. read more

LLC vs Corporation

If you’re starting a new business one of the first items on your to-do list should be deciding what kind of legal structure your business will have. Picking from this list can be a steep order. There seems to be a vast cornucopia of abbreviations to choose from. The most common kinds of business structures are LLC and corporations. There are pros and cons to each style and you should spend some time considering each option. Your decision will make a big difference come tax time and if your business ever gets sued. read more

Making wise decisions regarding financial assets after divorce

Spouses should make sure that the financial assets they retain following divorce will adequately meet their living needs in the future. Any asset division agreements should be put into writing and made official by the court, so they can be enforced when necessary. Spouses should also make sure that they claim what they are entitled to when it comes to finances, rather than using these financial assets as bargaining chips when it comes to child custody and visitation. read more