Running a small business in New Jersey means handling many tasks at once. You deal with vendors, staff, and customers every day. The last thing you want is a letter from the IRS saying your return is under review. Every year, many business owners get audited. Smart ones know what triggers an audit and stay out of trouble. The IRS does not choose returns by chance. It uses a system that looks at your numbers…
For residents of New Jersey, the immediate response to this question, “LLC vs S-Corp: Which one is better?” is often an LLC, which is less expensive to establish, simpler to run, and provides liability protection. To choose the ideal NJ business entity for your company, however, there are a lot of factors to take into account. The LLC might not be the best option or even a viable one, depending on your company’s objectives. Nothing…