While we help businesses across the country, as I mentioned in this post, our firm started in Bluffton, South Carolina and many of our small business customers are local. One of the most common problems we help our local small business customers with is Beaufort County sales tax. While a business doesn’t pay sales tax, […]
We help a number of small businesses in Beaufort County, SC, as that’s where I am based. Questions frequently arise regarding business licenses within the county and municipalities. The below are some of the common questions we receive, particularly from new business owners within the county. It’s important to note that we are not attorneys, […]
If you operate a business in South Carolina, the income you derive from that business may be taxed advantageously at the state level. I previously touched on the 3% South Carolina Active Trade or Business tax rate, but in this article we are going to fully explore the ins and outs of how it works. […]
Some of the most common questions we field from our small business customers are in regard to how to file their business personal property (BPP) tax returns. Particularly in South Carolina, who historically have had inconsistent processes across counties. For the average business owner, the need for reporting and the related tax can be confusing. […]
For the uninitiated, Beaufort County, South Carolina real estate taxes can be confusing to navigate. What’s more, real estate taxes are a significant portion of the cost of owning your home. The type of property you have and how you use it plays a large role in how much tax you’ll pay due to Act […]
Introduction While we have customers and employees all over the country, we are headquartered in Bluffton, South Carolina. As one can imagine, a number of our customers are located within Beaufort County (Bluffton & Hilton Head, primarily) for at least part of the year. As such, we get a lot of questions about Beaufort County, […]
Back in my corporate accounting days, I worked at a really big company at one point. The bigger the company, the more acronyms there are, or so it seems. I had a colleague that absolutely hated acronyms. Every time he heard “BAU” (business as usual) he’d shudder. Acronyms are commonplace in today’s world of business, […]
We often hear about “scaling” a business, but what does that mean? Sometimes that means growing the top line (revenue). Sometimes it means increasing the number of employees. It could also mean increasing the capabilities of what you offer. Sometimes the word “scale” is just thrown about sound cool. In our work with professional service […]
If you’re the owner of an LLC, there’s a chance you’ve elected to have your business taxed as an S Corporation. As your S Corp turns a profit, there are two ways to have those profits paid back to you: 1) reasonable compensation and 2) owner’s distributions (sometimes referred to as draws). While we won’t […]
*Note: this article includes affiliate links. We do, however, use all of the apps in this article for our own firm and/or recommend and use them in conjunction with our customers. Importance of accurate financial data We often speak of the importance of not only having good, clean books (like we did here and here […]
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