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What is an Annual Report?

What is an Annual Report?

Most states require LLCs and Corporations to file an Annual Report. This report has different names, but the general idea is that you have to file a report and pay your state a fee each year to keep your business in “active” status. The due date to file and pay varies...

Sales Tax Primer – Part 2

Sales Tax Primer – Part 2

You may have to file and pay sales tax with multiple states if you have a physical or economic nexus in each state. A common example of an economic nexus is if your online store makes a certain number of sales (let’s say 200) or a certain amount of income in sales...

Sales Tax Primer – Part 1

Sales Tax Primer – Part 1

Should you be collecting sales tax on your sales? Here is a simple guide to determine if you should collect sales tax and how to set it up: Check the website for the comptroller in your state to find what products and services are subject to sales tax in your state....

Recommended Banks for Your Business

Recommended Banks for Your Business

If you do not have a business bank account, there are a couple of banks I would specifically recommend from an accounting professional’s perspective. TD Bank Shore United Bank (formerly Severn Bank for my DE/MD/VA clients) Relay (Digital Bank) Bank of America There...