Richard Streitfeld – Buddhist Mensch

Frequently Asked Questions:
Demystifying S-Corp Distributions

Q: How do we take distributions from our S-Corp? –Sol Sagan, Billions and Billions of Stars, Inc, Scituate A: Structured properly, distributions from an S-Corp can save the owners thousands of dollars annually in payroll taxes. How? Distributions are profits remitted directly from the company to the owners without going through payroll, therefore not subject
+ Read More

Register Your New Rhode Island Business

Registering a New Business
in Rhode Island

  Here are the steps and links to forming a new (for-profit) business. We strongly advise you contact an advisor (an accountant or lawyer) to help you with the decisions and implementation. Decide on your legal structure – Corporation? LLC? Partnership? Decide on your tax structure – S Corporation? LLC taxed as a partnership? As
+ Read More

Registering for Sales Tax–
a Multi-State Guide for Artists and Others

Sales tax is not fun.  No kind of tax is fun, but sales tax can be particularly daunting, and it is also considered “low hanging fruit” by many state jurisdictions.  Add to that the challenge of filing in multiple states if you are a working artist who participates regularly at shows around the country and
+ Read More

Richard Streitfeld – Buddhist Mensch

Don’t Be Stupid Keep
Your Business Filings Current

Q: “Why did the State revoke my charter? #$???!! –Cursed in Cranston (Rhode Island) A: Incorporation and organization (the rough equivalent of incorporation for LLC’s)  are established under the auspices of state government. As such, your entities must generally file reports and pay fees, usually annually and to the Secretary of (your) State, to remain in “good
+ Read More

1 2 3 4