By Marco Carbajo, Guest BloggerPublished: February 22, 2019 As a business owner, establishing a distinct separation between your personal finances and your business finances is pivotal for protecting your own assets and credit. This above all things should be a top priority for managing money the right way. An incorporated business is treated as a separate legal entitiy and it must be treated as such. For starters, separation between personal and business finances should be on the top of the list.
The McDowell Chamber of Commerce was pleased to celebrate Marion’s newest retail space, Vintage Market, with a ribbon cutting ceremony on Friday, February 8, 2019. The purpose of the occasion was to recognize the new business and welcome owners Anthony Collins and Rick Letterman to the Marion business community. Vintage Market is part of an antique craze where everything is trending back to the older style, and people want stuff that has been restored or repurposed. Located upstairs in the old Belk
Do Rentals Qualify For The New 20% Business Deduction? The Treasury Department and the IRS just released some more guidance on the new Section 199A qualified business income (20%) deduction. A new option was introduced that provides a safe harbor for real estate rentals. There’s been a lot of uncertainty and differing views about whether and in what circumstances rental properties will qualify for the deduction since they’re not always viewed as trades or businesses for tax purposes. Having this safe
Jan 21, 2019 by Michael GutaAs a small business, you might’ve tried to get a federal contract at some point. If you have, you know the process can be burdensome, complicated and full of obstacles, which is putting it mildly. To overcome some of these challenges, two bills (H.R. 226 and H.R. 227) introduced by newly appointed Chairwoman of the House Committee on Small Business for the 116th Congress, Representative Nydia M. Velázquez (D-New York) were just passed by the House of Representatives. Small
It’s tax time ~ what’s currently going on with tax filing?It’s tax time; well, not quite yet. There are significant actions yet to happen before 2019’s tax filing season can get underway. So, what’s going on?In late 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law creating an enormous impact on tax laws for 2017, 2018 and beyond. This legislation represents the most significant, widespread changes to existing tax law in over 30 years. The Treasury Department and Internal Revenue Service (IRS)
The cozy office overflowed with people and energy as the McDowell Chamber, the Old Fort Chamber, and local officials gathered inside the new Old Fort office of GreyBeard Realty at their official Ribbon Cutting on Thursday, November 29, 2018. GreyBeard Realty opened in 1999 as a rental management company but quickly shifted to include sales to accommodate the growing number of those relocating to the area. Owner Chip Craig expressed his excitement and gratitude at the ribbon cutting for the opportunity to