NEWS YOU CAN’T MISS
Our Blog Page
A Monthly Newsletter You Can't Live Without
Stay updated on new ways to save money and protect yourself from the IRS.
Opt-in to our free monthly newsletter to receive tax saving tips, updates on laws that could affect you, how to protect yourself from the IRS, important due dates, deals, and much more
Secrets of a Licensed Tax Resolution Pro.
News & Media
Attract Customers to Your CDA Business
Top Coeur d'Alene business retailers understand the value of always putting their "cleanest foot" forward; customers appreciate this and return the favor by becoming repeat and loyal customers. A rusty car immediately makes you think that in addition to looking bad it...
Create Fliers for Your CDA Business
Create tip sheets or handout fliers for your Coeur d'Alene business’s bestselling products and include information that your customers would find very useful in regard to the products they are purchasing. Information featured on the tip sheets or fliers could include...
Can Your CDA Business Benefit from a Newsletter?
Newsletters are a great source of marketing for new and established Coeur d'Alene businesses. They can give you the space to state interesting facts about your business or industry, provide your unique benefits, tell people your story and create excitement about doing...
Defining a Coeur d’Alene Home-Based Business
The term business (or home-based business- I use the term interchangeably) applies to anyone working for themselves, whose main Idaho business location is in the home or in a separate structure on the home property. Home business applies not just to businesses that...
Can a Coeur d’Alene S Corporation Allocate Profits Unfairly?
No. a Coeur d'Alene S-Corporation that pays out a disproportionate distribution, may be treated as creating a second class of stock. S-Corporations by law are only allowed to have one class of stock with the same rights to distribution. For Tax Resolution or Tax...
Create a First Impression for Your CDA Business
Make a memorable impact on people when you introduce your Coeur d'Alene business by developing a creative and memorable verbal introduction. Here are a few before and after examples, you decide which you think will have the greatest impact, create the most interest,...
Are CDA LLC’s Eligible for IPO Initial Public Offering?
No. Coeur d'Alene LLC’s are unable to issue shares of stock to shareholders. This make an initial public offering an impossible task. Your company would need to be converted to a C-Corporation to be granted the ability to have multiple classes of stock and an...
Can a Coeur d’Alene S Corporation be Owned by One-Person Only?
Yes. An Idaho S-Corporation can be owned by one shareholder only. For Tax Resolution or Tax Preparation services in Coeur d’Alene Idaho click here.
Can a CDA S Corporation Allocate Wages from Disbursements?
Yes. As long as a reasonable wage has been met first, all other profits from a Coeur d'Alene S-Corporation can be disbursed to owners/shareholders. For Tax Resolution or Tax Preparation services in Coeur d’Alene Idaho click here.
101 Coeur d’Alene Business Marketing Ideas
There are thousands of ways you can promote your Coeur d'Alene business. With the right mix of activities, you can identify and focus on the most effective marketing tactics for your small CDA business. Make sure before you engage in any marketing activity you clearly...
Does a CDA LLC Have a Perpetual Existence?
Yes. Idaho state allows the Coeur d'Alene LLC to have a perpetual existence that can outlive its original owners/members. However, this may not be true with other states. For Tax Resolution or Tax Preparation services in Coeur d’Alene Idaho click here....
Does an Idaho LLC Provide Large Fringe Benefits?
If you’re a Coeur d'Alene LLC taxed as a partnership or sole proprietor, your fringe benefits are generally considered guaranteed payments or other compensation for income and self-employment tax purposes. Naturally, there are exceptions to the general rules. Certain...
Does a CDA LLC Pay Self-Employment Taxes on All Profits?
Yes. A Coeur d'Alene LLC is a pass-through and unable to differentiate between a wage and other payout methods. Therefore, you will pay self-employment taxes on your share of the profits regardless of how you withdraw the funds. Coeur d'Alene S or C-Corporation...
Are Coeur d’Alene LLC’s Required to Perform Meetings and Minutes?
No. Due to the Coeur d'Alene LLC’s lack of legal formalities, this business entity is not required to have annual meetings or record minutes and resolutions. However, it is in these documented meetings, minutes and resolutions that the limited liability and separation...
Can a Coeur d’Alene LLC be Owned by One-Person Only?
Yes. If you are a Coeur d'Alene LLC with one owner, then you will be taxed as a sole proprietor unless otherwise elected. In Idaho you and your marital partner can still opt to be taxed as a sole proprietor even though there are two members. For Tax Resolution or Tax...
Coeur d’Alene Employee Versus Independent Contractor
If you are wondering if you should hire full-time Idaho employee or use independent contractor, don’t make the mistake of thinking they are the same thing. Employees and Contractors are not alike in the state and federal governments eyes. If the IRS suspects that you...
Misclassifying Coeur d’Alene Employees as 1099
One potential Coeur d'Alene business tax reduction strategy is to hire independent contractors instead of employees. Misclassified If a worker’s classification fits within the tax law, it’s a legitimate strategy that can save you thousands of dollars. But sometimes...
Can a Coeur d’Alene S Corporation Have Multiple Owners?
Yes. A Coeur d'Alene S-Corporation can have a maximum of 100 shareholders that are US citizens, permanent residents or an LLC taxed as a sole proprietor. For Tax Resolution or Tax Preparation services in Coeur d’Alene Idaho click here.
Does a Coeur d’Alene LLC File Annual Idaho State Renewal Reports?
How to File Yes. All Coeur d'Alene businesses, regardless of entity type, must complete the annual state renewal report. You will receive a renewal card in the mail annually. It is usually a bright colorful post card that is sent out to your business mailing address...
Can a Coeur d’Alene S Corporation Retain Earnings for Future Growth?
Yes. An Idaho S-Corporation can distribute profits to the owners/shareholders, keep them as retained earnings or do a little of both. The difference between a Coeur d'Alene S and C-Corporation is that the C-Corporation makes this decision after 21% corporate taxes are...
Does a Coeur d’Alene C Corporation Have a Perpetual Existence?
Yes. A Coeur d'Alene C-Corporation has a perpetual existence that can outlive its original owners/shareholders. This makes an Idaho C Corporation an excellent choice for those who would like to pass down their Coeur d'Alene business to future generations and secure...
Coeur d’Alene Business General Journal Explained
Sometime after your Coeur d'Alene business transaction occurs it is recorded in a book called the general journal. While there are many kinds of journals, it is most important to focus on the general journal. A general journal is often referred to as the book of...
Coeur d’Alene Business Net Income Defined
Net income represents the difference between revenues generated during the period and the related expenses, which generated that revenue. Prior to calculating the net income, a Coeur d'Alene business should first calculate gross income. The gross income is sale (or...
Coeur d’Alene Business Gross Receipts
Gross receipts are the total amounts your Coeur d'Alene business receives from all sources during its Tax Year, without subtracting Cost of Goods Sold or deductible expenses. If you operate your Idaho business as a Sole Proprietorship, or a single-member LLC, gross...
Coeur d’Alene Business Expenses Defined
Expenses represent the cost of doing business. There are no limits to what this includes as long as it is an expense that relates to your Coeur d'Alene business and is necessary. Example of cost include: Accounting expenditures Depreciation of fixed assets assigned to...
Coeur d’Alene Business Long-Term Assets Defined
Long-term assets also called non-current assets are not expected to be converted to cash or totally use up in a year or less period. Rather they are expected to be of value to the Coeur d'Alene company for more than a year. Long-term assets would include things like...
Coeur d’Alene Business Expense Guide
An ordinary expense is one that is common in your trade or Coeur d'Alene business. A necessary expense is one that is useful and appropriate for your trade or Coeur d'Alene business. The two biggest reasons why you might lose a business expense deduction are: you...
Coeur d’Alene Business General Ledger Defined
A book containing a page or more for every account in the Coeur d'Alene business. After a transaction is recorded in the general journal, the components are then transferred or posted to the individual accounts in the general ledger. Thus, at any time someone can...
Coeur d’Alene Business Intangible Assets Defined
Intangible assets are assets that cannot be physically touched. They must still meet the three-part test in order to be listed on the balance sheet as an asset, however, they do not have any tangible characteristics. Do you know what intangible assets you have at your...
Coeur d’Alene Business Expenditures Explained
Expenditures are the spending of cash in your Coeur d'Alene business. All expenses are expenditures, but not all expenditures are necessarily expenses. Only expenditures that immediately generate revenue are considered expenses. When expenditures are made for items...
Keyword Search
Since
1998
Act now! Call our office today.
Talk with a tax specialist immediately and get the help you need.
Call Us 9am-5pm Mon-Sat.
Contact
- Call (208) 425-1545
- Email contact@cdaaccounting.com
- Hours 9:00am – 5:00pm
- Open Monday – Saturday
About Us
We lower clients tax liabilities & help them permanently resolve IRS & State tax issues.
From the Blog
Attract Customers to Your CDA Business
Top Coeur d'Alene business retailers understand the value of always...
© Coeur d’Alene Accounting Copyright. All Rights Reserved Since 1998.