by Jarel Daniels | Sep 30, 2020 | Tax & Accounting
What is a Trust Company? A trust company is a legal entity that serves as a trustee on behalf of a trust of a person or organization. It is typically tasked with the administration, management, and the eventual transfer of assets to beneficiaries. Rather than choosing...
by Jarel Daniels | Sep 24, 2020 | Corporation
What is a Corporation A corporation is a group of people that have met the legal requirements needed to act as an independent legal entity, separate and distinct from its owners, as recognized by law. It is the most common form of a business organization and may act...
by Jarel Daniels | Sep 10, 2020 | Business Development
What is a Non-Profit Organization? A non-profit organization (NPO), or a foundation, is a business but is established for a more significant social cause. It is born out of the owners’ strong advocacies, and because of this, it impacts significantly on the...
by Jarel Daniels | Sep 1, 2020 | Business Development, LCC, Limited Liability Company, Tax & Accounting
LLC: Limited Liability Company A Limited Liability Company (LLC) is a business wherein owners are not personally liable or accountable for the company’s debt and liabilities. The business owners have personal asset protection with pass-through taxation. LLC is a...
by Jarel Daniels | Aug 28, 2020 | Importance of Income Statement, Income Statement, Tax & Accounting
One of the three most important financial statements is the Income statement. It is where revenues, expenses, and overall profits or losses are reported for only a specific period. Here, all the costs that contribute to the final earnings are evident, which is also...
