article thumbnail

Startup Tax Planning for Better Cash Flow Management

Up and Running

Many small business owners have no idea what they will owe in taxes until it’s time to pay them,” says Paul Gevertzman, CPA, a tax partner at Anchin, Block, & Anchin in New York. If you are an S corporation owner earning a salary, pay the taxes with each paycheck starting in January,” Norris says.

article thumbnail

5 Critical Tips to Reduce Your Business Taxes This Year [WEBINAR]

Up and Running

Earlier this month I hosted Ryan Clower, a CPA from the accounting firm M. I am a CPA, down here certified in the great state of Texas and really just stoked to be here. An LLC is a state-based registration classification. I’m excited to be here. Here’s the problem, and I’m not going to go back to them.

.Net 85
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Much Should You Pay Yourself?

Up and Running

The question is, how do you decide what your own salary should be? We asked 12 founders from the Young Entrepreneur Council: How should startup founders calculate their own salaries versus those of staff members once the company starts to grow? Their responses — and tips for calculating your salary fairly — are below: 1.

CPA 123
article thumbnail

30 Entrepreneurs Explain Why They Started Their Businesses

Hearpreneur

Thanks to Tom Mumford, Undergrads LLC ! #5- Giving back to the community has always been something I valued, so using my CPA and JD expertise, I knew there was something I could do to make taxes less daunting. 16- Wanted to replace my six-figure corporate salary. 5- To teach about love and kindness. Photo Credit: Kristi Andrus.