Thursday, December 5, 2013

What is your Resources for a Nonprofit..


http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/How-to-Apply-for-an-EIN
Charitable Lead Annuity Trust

A charitable lead annuity trust is one form of a charitable lead trust. The overarching term "charitable lead trust" refers to an arrangement in which property income or investment income is given to a charity while the grantor is living, but the principal passes to other designated parties upon the grantor's death.

In a charitable lead annuity trust, the trust pays a fixed percentage of the initial value of its assets to the charity for the charitable term.

Charitable Lead Unitrust

A charitable lead unitrust is one form of a charitable lead trust. The overarching term "charitable lead trust" refers to an arrangement in which property income or investment income is given to a charity while the grantor is living, but the principal passes to other designated parties upon the grantor's death.

In a charitable lead unitrust, the trust pays a percentage of the value of its assets, determined annually, to a charity for the charitable term.

Charitable Remainder Annuity Trust

A charitable remainder annuity trust is one form of a charitable remainder trust. The overarching term "charitable remainder trust" refers to an arrangement in which property or money is donated to a charity, but the donor (called the grantor) continues to use the property and/or receive income from it while living.

In a charitable remainder annuity trust, the trust pays a fixed dollar amount to charity annually.

Charitable Remainder Unitrust

A charitable remainder unitrust is one form of a charitable remainder trust. The overarching term "charitable remainder trust" refers to an arrangement in which property or money is donated to a charity, but the donor (called the grantor) continues to use the property and/or receive income from it while living.

In a charitable remainder unitrust, the trust pays a fixed percentage of its value to charity annually.

Church

For tax purposes, a "church" refers to any organization claiming to be a church or any convention or association of churches. The word "church" includes temples, mosques, and other houses of worship. To be considered a church for tax purposes, a group must be part of an organized religion, must have a mission statement, and must be formally organized as a distinct legal entity. Certain characteristics are generally attributed to churches. They include:
A distinct legal existence and religious history
A recognized creed, form of worship, and literature of its own
A definite and distinct ecclesiastical government including a formal code of doctrine and discipline
An organization of ordained ministers, selected after completing prescribed courses of study
Established places of worship with regular congregations, religious services, and/or religious instruction for members.



Church-Controlled Organization

A church-controlled organization is a branch of a church, including a men's or women's group, a religious school, a mission society, or a youth group.

Community or Volunteer Group

A community or volunteer group is any specialized interest group that comes together to provide volunteer services. Examples of community or volunteer groups include neighborhood watch groups and preservation societies. These groups generally apply for EINs for banking purposes only.

Conservatorship

A conservatorship is a trust created as the result of a legal process in which the court appoints an individual or organization to make financial decisions for another person who is determined to be financially incapable of making those decisions. A person under conservatorship is a conservatee, or protected person.

Corporation

A corporation is a legal entity established by a charter granting it certain legal powers, rights, privileges, and liabilities. A corporation can be established by a person or group of people with a charter from the state's secretary of state. After a corporation is created, it becomes its own entity and generally has an indefinite lifespan.

Custodianship

A custodianship is a trust set up for a minor or incapacitated person.

Employer Plan (401K, Money Purchase Plan, etc.)

A permanent arrangement under which an employer provides benefits for employees.

Employer/Fiscal Agent (under IRC Sec 3504)

An employer/fiscal agent under Internal Revenue Code (IRC) Sec 3504 is an agent for a disabled person. This agent takes care of employment taxes for which the disabled individual is responsible. These taxes are the result of the disabled person using federal, state, or local government funds to pay for their own home care.

Escrow

Escrow is a legal arrangement whereby an asset (often money, but sometimes other property such as art, a deed of title, website, or software source code) is delivered to a third party (called an escrow agent) to be held in trust pending a contingency or the fulfillment of a condition or conditions in a contract. When the set condition or conditions are met, the escrow agent delivers the asset to the proper recipient; otherwise the escrow agent is bound by his or her fiduciary duty to maintain the escrow account.

Estate

An estate (or decedent estate) or succession is a legal entity created as a result of a person's death. The estate consists of the real estate and/or personal property of the deceased person. The estate pays any debts owed by the decedent, and distributes the balance of the estate's assets to the beneficiaries of the estate.

Farmers' Cooperative

A farmers' cooperative is a farmers', fruit growers', or like association organized and operated on a cooperative basis to:
Market the products of members or other producers and return to them the proceeds of sales, less necessary marketing expenses, or
Purchase supplies and equipment for the use of members or other persons and turn over the supplies and equipment to them at actual cost, plus necessary expenses.

Members in a cooperative share in the profits and participate in the management of the association.



FNMA (Fannie Mae)

The Federal National Mortgage Association (FNMA), commonly known as "Fannie Mae," is a financial services company serving the home mortgage industry. The company offers banks and other mortgage lenders financing, credit guarantees, technology, and services so lenders can make more home loans to more customers. It is a private, shareholder-owned company formed with a charter from Congress that requires it to support the housing finance system.

GNMA (Ginnie Mae)
The Government National Mortgage Association (GNMA), commonly known as "Ginnie Mae," was created by the federal government as a wholly owned corporation within the U.S. Department of Housing and Urban Development (HUD). Its main purpose is to provide financial assistance to low or moderate income homebuyers by promoting mortgage credit.

GNMA pools channel funds from the securities market into the mortgage market and help increase the supply of credit available for housing. The investors receive a monthly pass-through of principle and interest payments on the pooled mortgages.

Government, Federal/Military

The Federal Government/Military category applies to:
All U.S. Government executive departments, agencies of the U.S. Government, and corporations wholly or principally owned by the U.S. Government
All regular and reserve units of the U.S. Armed Forces, controlled by the Secretaries of Defense, the Army, Navy, and Air Force. This includes the Coast Guard and the National Guard, but not the U.S. Merchant Marine or the American Red Cross
Military social clubs, including officers' clubs, enlisted men's clubs, NCO Clubs, officers' open messes, NCO's open messes, billeting funds, etc. These groups generally apply for an EIN for banking purposes only.



Government, Indian Tribal Governments

For tax purposes, federally recognized Indian tribes are treated as independent governments and are generally taxed in the same manner as state or local governments.

There are over 500 federally recognized Indian tribes in the United States. You can find a complete list of these tribes in Revenue Procedure 2002-64. They pay employment taxes, file information returns, and pay certain excise taxes. Indian tribes are generally not subject to federal income tax. This is true for the tribe, as well as any subdivisions or branches of the tribe.

Government, State/Local

Governments generally have the authority to create and enforce laws and impose taxes. A unit of state government has the authority to exercise powers specified under the state's constitution. Examples of primary responsibility of a state include:
Protection of lives and property by maintenance of a police force
Regulation and improvement of transportation within the state
Regulation of business within the state
Education.

Local governments are usually subdivisions of states and are created by charter. They generally provide services as specified under state law for a specific area. Types of local government entities include:
Municipalities (may be called cities, towns, villages, etc.)
Counties or parishes
Special districts (schools, fire protection, water, etc.)
Regional authorities (transportation, conservation, etc.).

Local governments also include instrumentalities controlled by governments, such as city or county hospitals, recreation centers, etc.



Guardianship
A guardian is a person who has the legal authority (and the corresponding duty) to care for the personal and property interests of another person, called a ward. Usually, a person has the status of guardian because the ward is incapable of caring for his or her own interests due to infancy, incapacity, or disability. Generally, the parents of a minor child are the legal guardians of that child and can designate who shall become the child's legal guardian in the event of their death.

Homeowners/Condo Association

A Homeowners/Condo Association is an organization of homeowners residing within a particular development whose major purpose is to maintain and provide facilities and services for the common enjoyment of the residents.

Household Employer

You are a household employer if you hire someone to do household work in or around your home and that worker is classified as your employee. As a household employer, you will be directing the work of the employee(s) you hire. Some examples of household workers are:
Babysitters
Nannies
Au pairs
Cleaning people
Housekeepers
Maids
Drivers
Health aides
Private nurses
Caretakers
Yard workers.



IRA

An individual retirement arrangement, or IRA, is a personal savings plan that allows you to set aside money for retirement, while offering you tax advantages. The IRS will only issue an EIN for an IRA trust account if the individual intends to file Form 990-T (Exempt Organization Business Income Tax Return) or Form 1041 (U.S. Income Tax Return for Estates and Trusts).
Contributions to an IRA are tax-deductible based on the individual's marriage status and income level
Monies contributed to an IRA may be invested in stocks, bonds, mutual funds, annuities, bank savings accounts, certificates of deposit, government bonds, and investment trusts
Contributions cannot be of more personal and immediate investments such as a home or collectibles.



Irrevocable Trust

In an irrevocable trust the grantor has no control of the trust (the trust cannot be repealed or annulled) and the trust will pay tax.

Joint Venture

A joint venture is a partnership formed between two or more business entities. These businesses join together and share risk or expertise on a specific project or group of projects. A joint venture is not incorporated or a limited liability company (LLC); it is not a joint undertaking merely to share expenses.

Memorial or Scholarship Fund

A memorial or scholarship fund is set up in memory of someone who has died. The family may request that donations in memory of their loved one be sent to a specific charity, church, or school. Scholarship funds provide monies to be awarded to deserving students in the future.

Multi-Member Limited Liability Company (LLC)
A domestic LLC with two or more members is considered multi-member. Members in an LLC can be either individuals or other organizations. The default classification of a multi-member LLC is a partnership.

National Guard

The National Guard are U.S. military reserve units that are controlled by individual states and equipped by the federal government. They can be called into service by either federal or state governments. For more, see the glossary entry for Federal Government/Military.

Other Non-Profit/Tax-Exempt Organizations

Non-profit organizations include corporations, trusts, limited liability companies, and unincorporated associations that qualify for tax-exempt status under Internal Revenue Code (IRC) 501(a) as described in Publication 557 (Tax-Exempt Status for Your Organization).

Non-profit organizations include: public charities, private foundations, educational organizations, employee associations, veteran's organizations, business leagues, state-chartered credit unions, child care organizations, and teachers' retirement fund associations. This list is not all-inclusive.

Sole proprietors and partnerships cannot be considered for tax-exempt status. For-profit organizations cannot be considered for tax-exempt status.

Partnership

An unincorporated organization with two or more members is generally classified as a partnership for federal tax purposes if its members carry on a trade, business, financial operation, or venture and divide its profits. However, a joint undertaking merely to share expenses is not a partnership. For example, co-ownership of property maintained and rented or leased is not a partnership unless the co-owners provide services to the tenants.
Partners can be individuals, corporations, trusts, estates, and other partnerships.
Each partner contributes money, property, labor or skill, and expects to share in the profits and losses of the business.
A partnership does not pay tax on its income, but "passes through" any profits or losses to its partners. Partners must include partnership items on their tax returns.


Two common forms of partnerships are general partnership and limited partnership.



Personal Service Corporation

A personal service corporation is a person or group of people who establish a legal entity by filing articles of incorporation with the state's secretary of state granting it certain legal powers, rights, privileges, and liabilities. A personal service corporation is an organization in which the activity involves the performance of services in the field of health, law, engineering, architecture, accounting, actuarial science, performing arts, or consulting.

In a personal service corporation, substantially all of the stock is owned by the employees who perform the services. A personal service corporation sells its ideas or expertise rather than tangible goods. A personal service corporation is not a sole proprietor or partnership.

Plan Administrator

The plan administrator is a person specifically designated to carry out the plan's day to day operations. The plan administrator has a fiduciary responsibility to the participants under the plan. Duties of the plan administrator may include:
Record keeping
Accounting tasks
Legal and trustee services.



Political Organization

A political organization is:
An organization that influences the selection, nomination, election, or appointment of any individual to any public office or office in a political organization
An organization created and operated primarily for the purpose of accepting contributions, making expenditures, or both
A party, committee, association, or fund (including a separate segregated fund described in Section 527(f)(3) set up by a Section 501(c) organization, or a similar organization).



Pooled Income Fund

A pooled income fund is one form of a charitable remainder trust. The overarching term "charitable remainder trust" refers to an arrangement in which property or money is donated to a charity, but the donor (called the grantor) continues to use the property and/or receive income from it while living.

In a charitable pooled income fund, the donor transfers assets (usually cash) to a trustee, and those assets are commingled and invested in a "pooled" fund with other donors' gifts. The donor receives a portion of the total income from the fund annually. When the donor dies, his or her remainder interest in the fund is conveyed to the charity.

PTA/PTO or School Organization

Parent-teacher associations (PTAs) act on behalf of the student. They speak to local and federal government on issues dealing with students.

Parent-teacher organizations (PTOs) are most often single-school groups that operate under their own bylaws and concentrate on activities at their building or in their town only.

School organizations are usually created by each school and are independent from similar groups at other schools. Some examples of school organizations are: high school marching bands and junior varsity cheerleading squads.

Qualified Funeral Trust

A qualified funeral trust (QFT) is a grantor trust, where the grantor purchases funeral services prior to death, and the applicable funeral home files one income tax return for all separate trusts. The trust is treated as a non-grantor trust if the following conditions are met:
The trustee makes an election under IRC section 677(a)(3)
Each trust is treated separately for tax rates
The contributions are invested for funeral services of the stated person only.



Real Estate Investment Trust (REIT)

A real estate investment trust (REIT) is an investment vehicle established for the benefit of a group of real estate investors. An unincorporated trust or association, it is managed by one or more trustees, who hold title to the assets of the trust and control its acquisitions and investments.

Receivership

A receivership is a legal or equitable proceeding in which a receiver is appointed for an insolvent corporation, partnership, or individual to preserve its assets for the benefit of affected parties.

Regulated Investment Conduit (RIC)

The label regulated investment conduit (RIC) refers to a domestic corporation that meets the following criteria:
It is registered throughout the tax year as a management company or unit investment trust under the Investment Company Act (ICA) of 1940.
It has an election in effect under the ICA to be treated as a business development company, or
It is a common trust fund or similar fund that is neither an investment company under section 3(c)(3) of the ICA nor a common trust fund as defined under section 584(a).



REMIC
A real estate mortgage investment conduit (REMIC) is an entity formed for the purpose of holding a fixed pool of mortgages secured by interests in real property. A REMIC issues regular and residual interest to investors, paying each shareholder his or her fair share of income generated from the REMIC.

Revocable Trust

A revocable trust is a trust that may be altered or terminated during the grantor's lifetime. Since the trust may be altered at any time until the grantor's death, it is considered part of the grantor's estate and is subject to taxation. The property is passed on to the beneficiaries only after the grantor's death, and the revocable trust then becomes irrevocable.

S Corporation

A corporation is a person or group of people who establish a legal entity by filing articles of incorporation with the state's secretary of state granting it certain legal powers, rights, privileges, and liabilities. An S corporation is an eligible domestic corporation that wants to avoid double taxation (once to the shareholders and again to the corporation) by electing this status using Form 2553 (Election by a Small Business Corporation).

Generally, an S corporation is exempt from federal income tax other than tax on certain capital gains and passive income. An S corporation is not a sole proprietor or partnership.

Settlement Fund (under IRC Sec 468B)

A designated settlement fund or qualified settlement fund is a trust or fund established under IRC Sec 468B. This code section permits a defendant to deposit money or property into a trust or fund and receive a full and complete release of liability.

Single-Member LLC

A single-member LLC is an LLC with only one member, who can be an individual or another organization. Since you are a single-member LLC, we must initially classify you as a disregarded entity. This means the LLC is ignored or "disregarded" for the purpose of filing a federal tax return. This is only a mechanism for tax purposes. It does not change the fact that the business is legally a limited liability company.

Social or Savings Club

A social club is organized for pleasure, recreation, and other similar non-profitable purposes and substantially all of its activities must be for these purposes.

A savings club is organized to offer benefits and services to its members for purposes of saving money on purchases. Some types of savings clubs include: grocery savings, airline/cruise savings, and home décor savings.

Sole Proprietor

A sole proprietor is one individual who owns a company that is not incorporated or registered with the state as a limited liability company (LLC). Sole proprietors may or may not have employees.

In a sole proprietorship:
The business does not exist separately from the owner.
The risks of business apply to the individual's personal assets, including those not used for the business.
The sole proprietor reports business income on his or her individual tax return.



Sports Teams (community)

These organizations are comprised of sports teams or clubs primarily participating in live sporting events before a non-paying audience. Examples include bowling leagues and little league teams. These groups generally apply for EINs for banking purposes only.

Trust (All Others)

A trust is a legal entity created under state law and taxed under federal law in which one party holds assets for the benefit of another. A trust is required to file a Form 1041 (U.S. Income Tax Return for Estates and Trusts) to report its income, deductions, gains, and losses.

Withholding Agent

A withholding agent is an agent, broker, fiduciary, manager, tenant, or spouse who is required to withhold taxes on income, other than wages, paid to a non-resident alien.

Sunday, December 1, 2013

SBA Business Loan


Business Loan Checklist

The SBA is not your only source for small business loans. State and local economic development agencies as well as numerous nonprofit organizations provide low-interest loans to small business owners who may not qualify for traditional commercial loans. This page will help to ensure that you are prepared when you decide to apply for a small business loan.
Documentation Needed for Small Business Loan Applications


While every loan program has specific forms you need to fill out and documents you need to submit, you will likely need to submit much of the same information for different loan packages. Before you start applying for loans, you should get some basic documentation together. The following are typical items that will be required for any small business loan application:


Personal Background: Either as part of the loan application or as a separate document, you will probably be asked to provide some personal background information, including previous addresses, names used, criminal record, educational background, etc.


Resumes: Some lenders require evidence of management or business experience, particularly for loans that are intended to be used to start a new business.


Business Plan: All loan programs require a sound business plan to be submitted with the loan application. The business plan should include a complete set of projected financial statements, including profit and loss, cash flow and a balance sheet.


Personal Credit Report: Your lender will obtain your personal credit report as part of the application process. However, you should obtain a credit report from all three major consumer credit rating agencies before submitting a loan application to the lender. Inaccuracies and blemishes on your credit report can hurt your chances of getting a loan approved. It’s critical you try to clear these up before beginning the application process.


Business Credit Report: If you are already in business, you should be prepared to submit a credit report for your business. As with the personal credit report, it is important to review your business’ credit report before beginning the application process.


Income Tax Returns: Most loan programs require applicants to submit personal and business income tax returns for the previous 3 years.


Financial Statements: Many loan programs require owners with more than a 20 percent stake in your business to submit signed personal financial statements. You may also be required to provide projected financial statements either as part of, or separate from, your business plan. It is a good idea to have these prepared and ready in case a program for which you are applying requires these documents to be submitted individually.


Bank Statements: Many loan programs require one year of personal and business bank statements to be submitted as part of a loan package.


Collateral: Collateral requirements vary greatly. Some loan programs do not require collateral. Loans involving higher risk factors for default require substantial collateral. Strong business plans and financial statements can help you avoid putting up collateral. In any case, it is a good idea to prepare a collateral document that describes cost/value of personal or business property that will be used to secure a loan.


Legal Documents: Depending on a loan’s specific requirements, your lender may require you to submit one or more legal documents. Make sure you have the following items in order, if applicable:


Business licenses and registrations required for you to conduct business


Articles of Incorporation


Copies of contracts you have with any third parties


Franchise agreements


Commercial leases
Questions Your Lender Will Ask You


Forms vary by program and lending institution, but they all ask for the same information. You should be prepared to answer the following questions. It’s a good idea to have this information prepared before you fill out the application:


Why are you applying for this loan?


How will the loan proceeds be used?


What assets need to be purchased, and who are your suppliers?


What other business debt do you have, and who are your creditors?


Who are the members of your management team?

Friday, November 29, 2013

Consult with your accounting team Publisher Tax Forms


Publisher Tax Forms



Rakuten LinkShare provides a list of forms to help you choose the appropriate one. Please consult with your accounting team and the IRS if you need additional information.

Publishers outside the United States, please see this note.

Cliquez ici pour une explication en français.


1. W-8IMY - Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for United States Tax Withholding

Form: http://www.irs.gov/pub/irs-pdf/fw8imy.pdf

Instructions: http://www.irs.gov/pub/irs-pdf/iw8imy.pdf


2. IW8BEN - Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding

Form: http://www.irs.gov/pub/irs-pdf/fw8ben.pdf

Instructions: http://www.irs.gov/pub/irs-pdf/iw8ben.pdf


3. IW8ECI - Certificate of Foreign Person’s Claim That Income Is Effectively Connected With the Conduct of a Trade or Business in the United States

Form: http://www.irs.gov/pub/irs-pdf/fw8eci.pdf

Instructions: http://www.irs.gov/pub/irs-pdf/iw8eci.pdf


4. IW8EXP - Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding

Form: http://www.irs.gov/pub/irs-pdf/fw8exp.pdf

Instructions: http://www.irs.gov/pub/irs-pdf/iw8exp.pdf


5. IW9 - Request for Taxpayer Identification Number and Certification

Form: http://www.irs.gov/pub/irs-pdf/fw9.pdf

Instructions: http://www.irs.gov/pub/irs-pdf/iw9.pdf

For additional information, please see these articles:
Instructions on completing the W-8 tax form
Will I have to pay taxes on my Rakuten LinkShare earnings?
When will Rakuten LinkShare send me a form 1099?



Note on W-8 Form for Publishers Outside the United States
As a Rakuten LinkShare Publisher based outside of the United States, you may have the opportunity to partner with and earn income from U.S. Advertisers. When this happens, we are required by the Internal Revenue Service (“IRS”) to obtain and maintain documentation to certify your non-U.S. status. If we do not have this certification on file, we are required to apply the applicable withholding tax (currently 30%) when commission payments are made to you on behalf of U.S. Advertisers.

This certification is referred to as your W-8 status. In order to streamline our processes, we ask all Publishers, whether or not they plan on working with U.S. Advertisers, to verify their status at the point of registration.

There are multiple W-8 forms, and for most Advertisers the W-8BEN is appropriate, as it is the form used primarily by entities and individuals to claim foreign status; however, if you need help choosing the appropriate form, please consult a tax expert. A brief description of each form is listed above. Please refer to the instruction forms for specific details about each W-8 form.

Publishers should contact a tax, legal, or professional advisor to understand the impact of Form W-8 reporting on their business. Information herein does not constitute tax, legal or other professional advice and must not be used as such.




Formulaires d'impôt pour l'éditeur Web

En tant qu'éditeur Web du réseau Rakuten LinkShare basé en dehors des Etats-Unis, vous avez l'occasion de collaborer avec des annonceurs américains et de gagner un revenu. Si cela devait se produire, nous sommes tenus par l'Internal Revenue Service («IRS») d’obtenir et maintenir dans nos dossiers les éléments pour certifier votre statut de non-US. Si nous n'avons pas cette certification dans le dossier, nous sommes tenus d'appliquer la retenue sur l’impôt applicable (actuellement 30%) lorsque les paiements de commissions sont faites au nom des annonceurs américains.


Cette certification est considéré comme votre statut ​​W-8. Afin de rationaliser nos processus, nous demandons à tous les éditeurs Web, qu'ils aient ou non l'intention de travailler avec les annonceurs américains, de vérifier leur statut ​​au moment de l'inscription.

Il existe de multiples W-8, et pour la plupart le W-8BEN est le plus appropriée, car il s’agit de celui qui est utilisé principalement par des entités et des individus qui revendique un statut d’étranger, mais si vous avez besoin d'aide pour choisir le formulaire approprié, s'il vous plaît consulter un expert en fiscalité. Veuillez vous référer aux liens ci-dessus pour accéder à plus d'informations sur chaque formulaire W-8.


Les éditeurs Web doivent contacter un conseiller fiscal ou juridique afin de comprendre l'impact du formulaire W-8 par rapport à leurs activités. Les informations présentes ne constituent pas des conseils juridiques ou fiscaux et ne doit pas être utilisé comme tel.

Thursday, November 21, 2013

Breakfast With Fran LIVE webcast Tune in on Thursday, Nov. 21



Breakfast With Fran LIVE webcast Tune in on Thursday, Nov. 21



Our October installment of Breakfast with Fran comes your way this Thursday. Tune in for the live webcast at 8 a.m. in each time zone across the country, and hear from GoSmallBiz founder Fran Tarkenton and special guest Judy Stoops!

The Breakfast with Fran is a one-of-a-kind networking event that will position YOU as the small business resource in your community, helping you make more contacts and convert more sales!
BECOME A MEMBER http://www.breakfastwithfran.tv/next.aspx

▶ Best LUCRATIVE Regards,
WEBSITE: https://www.legalshield.com/brokeragent/

Visit KW Business Legal Consultants FB page:
www.facebook.com/BusinessLegalConsultants

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Federal Entity 1041 vs. State Entity 1040

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Research the business complex trust structure & private foundation:

Form 1041, U.S. Income Tax Return for Estates and Trusts
http://www.irs.gov/uac/Form-1041,-U.S.-Income-Tax-Return-for-Estates-and-Trusts


Instructions for Form 1041http://www.irs.gov/pub/irs-pdf/i1041.pdf

1041 TAX FORM
http://www.irs.gov/pub/irs-access/f1041_accessible.pdf

501(a) Private Foundation
http://www.irs.gov/Charities-&-Non-Profits/Life-Cycle-of-an-Exempt-Organization

Let me ask you one question you can ask yourself, your attorney, or your cpa... Have you ever heard or used the 1041 tax form? I know without a shadow of a doubt 99% of the people you ask have not heard of that form and if they have I would ask them why they didn't tell you about it?

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· Isolate assets from litigation and liens · Provide a vehicle for the custody of children’s funds


OPEN ATTACHMENTS

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SMALL BUSINESS UPDATE



SMALL BUSINESS UPDATE

Member's trial defense testimonial on the call!

Tune in for Breakfast with Fran on Thursday!

Have you got your 5 yet?

☆Who Do you Know want to hear why 
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☆Business Plan:
• www.gosmallbiz.com/plan/

is the opportunity for them. NOW is the time to get started by visiting

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Success seems to be connected with action. 
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~Conrad Hilton (Hilton Hotel Founder)~

Wednesday, November 20, 2013

Inventory Division

Staying organized should be a priority for any small business owner, especially where inventory is concerned. Keeping track of your inventory in an efficient manner is the only way to measure what’s coming in and what’s going out, and therefore, what needs to be replaced. Because inventory is a major expense for a company, keeping organized in the inventory division can help make sure you are only spending money on items you need, when you need it.
Checking out a few different inventory management systems before choosing the one you want to use will give you an idea of what type of system works best for you. Every business is different. Furthermore, the various inventory tracking programs available today range in price. Here are a few low-cost options to consider—and even one that’s free! And remember, you don’t have to be super tech savvy to use these programs. They’re quite user-friendly.