free accounting software for small business 2015

CorporationĪ corporation is a company or group of people legally allowed to act as a single entity. Or, you can run an LLC with multiple owners, and file taxes as a partnership or as a corporation. LLCs give you flexibility when filing taxes: you can run a single-person LLC and file taxes as a sole proprietor or as a corporation. With an LLC, you’re personally protected in the case of debts or lawsuits against your company, which might make it a more attractive option than a sole proprietorship. Limited Liability Company (LLC)Īn LLC is a flexible business structure that includes elements of a sole proprietorship, a partnership and a corporation. In a sole proprietorship, there is no legal separation between you and your business, so you can be held personally liable for any debts your company may owe. Here’s a helpful guide to help you figure out what you need to do in your area. You’ll want to make sure you have all the necessary permits and licences that your state requires. This is a popular business type among freelancers and entrepreneurs because it’s easy and affordable to register as a sole proprietor. Here are some of the ways you can register your small business: Sole ProprietorshipĪ sole proprietorship is an unincorporated business that only has one owner. To register your business, you’ll first need to decide what type of business you’re going to run. If you need income tax advice please contact an accountant in your area. NOTE: FreshBooks Support team members are not certified income tax or accounting professionals and cannot provide advice in these areas, outside of supporting questions about FreshBooks. Should I Hire a Small Business Accountant?.What Are My Tax Obligations as a Small Business?.Should I Separate My Personal and Business Finances?.Master small business accounting 101 by following this 10-step guide: This Small Business Accounting 101 guide answers important accounting questions to help you tackle the financial operations of your business. Understanding the basics of small business accounting helps you get a clear picture of your company’s finances, track your cash flow and organize your books for tax season.

Free accounting software for small business 2015