Archived Posts: Sole Proprietorships

Closing a Business? Here’s How to Stay on Top of Your Tax Duties

Closing a Business? Here’s How to Stay on Top of Your Tax Duties

by | Jul 9, 2025 |

Businesses close for various reasons. Perhaps you’re ready to embark on a welcome change such as retirement or launching a new venture. Or maybe it just no longer makes financial sense to continue operating your current business. Whatever the reason, closing your business is a significant milestone, and part of wrapping things up means taking care of a few tax responsibilities.

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Choosing the Correct Business Entity

Choosing the Correct Business Entity

by | May 16, 2022 |

One of the most important decisions you'll make when starting a business is choosing the right business entity. It's a decision that impacts many things--from the amount of taxes you pay to how much paperwork you have to deal with and what type of personal liability you face. Forms of Business The most common forms of business are Sole Proprietorships, Partnerships, Limited Liability Companies (LLC), and Corporations. Federal tax law also recognizes another business form called the...

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