How can I register my new company?

Registering a new company involves several important steps, such as studying the name you want to register, since there may be several companies with the same name, there are several techniques that are used to establish the name of a company and make it unique. You can talk to your accountant, who will help you register your company correctly.

What are the keys to a successful business?

Having a clear idea of what you want to offer or do, educating yourself, looking for related information, preparing, organizing, and seeking help, and advice from people who can help you grow, are the keys to a start that will undoubtedly give you successful results.

What is a tax extension?

A tax extension is simply a notification to the State or the IRS that the tax return will be submitted later, this notification must be submitted on time for it to be valid and accepted. You must understand that, although you request an extension to file the tax return, this does not exempt you from paying the taxes that are due. In other words, the extension is not an extension to make tax payments later. Some people think this way and then they are surprised when they receive tax collection letters for penalties and accrued interest! If you have questions, you should consult your accountant for professional advice.

What is the difference between a W2 and a 1099?

A W2 is a form that the employer is required to provide to the employee beginning January 31 of each year. This document compiles all taxes withheld and paid by the employee/employer that were submitted to the IRS. The employee uses the W2 form to complete his or her tax return each year, and this document is required by the IRS and the accountant to prepare your tax return. The 1099 form, you have several versions, it can be a 1099-NEC, 1099-SEC, 1099-MISC… These IRS forms are for people who work on their own, (self-employed) as a contractor of a company.
Or they receive certain income from banks, and retirement companies, among others. For example, if you sell a property, you will receive a 1099-MISC indicating that you received an amount from the sale of that property, and the bank has in turn forwarded the same form to the IRS.

What is the indicated legal structure for my business?

This depends on what your short- and long-term goals are. Many people start as a “Sole proprietorship” which is the simplest way to start a business. There is what we know as an LLC, “Limited Liability Company” that offers some protection to the owners and has benefits like a Corporation, without being one, one of the advantages of an LLC over a Corp. is that it is much cheaper to register it. However, certain businesses are better suited to forming as a Corporation, because it is an identity completely independent of the owners, and it is the form of business that offers the greatest protection to the owners. Establishing a corporation depends on the demands of the business such as future expansion plans, and whether it is a domestic corporation or with a view to a global market. Seek legal advice or speak to your accountant for professional advice.

What do I need to buy a house in the United States?

Banks require at least two years of taxes and stable employment; you should have a social security number or W7. If it is a cash purchase, there are very few requirements. However, if it is a bank loan, you may need up to a 20% initial down payment for a conventional loan, or if you qualify for other programs, it could be from 3% or other programs may require a $0.00 down payment. Contact us for more information.