86.5% of nonemployer firms in the US are sole proprietorships, and 13.3% of small employer firms use this business structure. On the other hand, the numbers for S-corporations are 4.6% and 52.4% respectively. Based on these numbers, nonemployer firms favor
On average, Americans pay over $16,600 in federal income taxes. This might seem like a lot, but those in the most common tax bracket actually pay just over $4,500, which should come as a slight relief. However, you must pay
In 2023, a survey found that 37% of small businesses and gig workers surveyed had anxiety and confusion about how to file taxes. Your own income taxes can already be confusing enough, and when you add business ones, it can
If you’ve ever been interested in starting a business, then you might be aware that Delaware is the place to do it. Almost 70% of Fortune 500 businesses are incorporated in the state, and that’s no coincidence either. Delaware has
As of 2022, there are anywhere between 5.1 to 9 million US citizens who live abroad. While some expats end up staying overseas permanently, others eventually return to the States. No matter what situation you’re in, you’re still a US
Are you thinking of creating your own business to pursue your passions and dreams? Then you’ll want to do your research before embarking on such a grand adventure. Part of the process is naming a person or entity as your
