Lauren Simone Blogs
Should I do a S-corp or LLC?
Both Limited Liability Companies (LLCs) and S Corporations (S-Corps) are popular business structures in the United States, offering limited liability protection for owners. However, there are key differences between the two: Taxation: LLC: By default, an LLC is a pass-through entity for tax purposes. This means that the profits and losses "pass through" to the owners' individual tax returns, and the business itself does not pay federal income tax. Owners report their share of the profits on their personal tax returns. S-Corp: Like an LLC, an S-Corp is also a pass-through entity. However, it has a specific tax election that...
How to Start a Business
Starting a business involves several key steps. Here's a general guide to help you get started: Identify Your Business Idea: Choose a business idea that aligns with your skills, interests, and market demand. Conduct market research to assess the viability and potential success of your idea. Create a Business Plan: Outline your business concept, target market, competition, marketing strategy, operations plan, and financial projections. A well-thought-out business plan can be crucial for attracting investors and guiding your business decisions. Choose a Business Structure: Decide on the legal structure of your business (sole proprietorship, partnership, LLC, corporation, etc.). Consider the tax...
Unveiling the Shadows: Dr. Melissa-Sue John Sheds Light on Book Banning
Dr. Melissa-Sue John's virtual presentation at Woodbury Public Library on Feb 20, 2024, explored the multifaceted issue of book banning, sparking a crucial conversation on its global prevalence and impact. From defining banned books to addressing motivations and solutions, the event emphasized intellectual freedom, diversity, and the need for open dialogue, fostering community engagement and collective responsibility. The presentation encourages reflection on preserving the right to access diverse ideas, highlighting the library's commitment to critical conversations shaping our understanding of literature and freedom.
Guess what? Lauren Simone Publishing House is B Corp Certified!!
On January 10, 2024, Lauren Simone Publishing House received an email from B Corp congratulating them on completing the most comprehensive stage of the B Corp certification review process. After signing the B Corp Agreement, the declaration of independence, and an annual certification fee, we are official!!! By becoming a Certified B Corp, we are joining over 8,200 other B Corps in 161 industries and 95 countries around the world.
A Step-by-Step Guide on Submitting a Beneficial Ownership Information Report
The process of submitting a Beneficial Ownership Information Report involves several key steps: Understanding Regulations: Comprehend local laws regarding disclosure requirements and deadlines. Identifying Beneficial Owners: Determine who qualifies as a beneficial owner based on ownership or control criteria. Gathering Information: Collect detailed data on beneficial owners, including personal and ownership details. Compiling Documentation: Gather supporting documents like IDs, address proofs, and ownership agreements. Using Online Platforms: Utilize available online platforms for streamlined submissions. Completing Forms: Accurately fill out the necessary forms and review for accuracy. Review and Verification: Double-check information and documents for consistency and compliance. Timely Submission: Ensure submission within specified deadlines to avoid penalties. Maintaining Records: Regularly update ownership information as changes occur. Seek Professional Assistance: Consult experts for guidance if facing complexities or uncertainties. Stay Informed: Keep up-to-date with regulatory changes for ongoing compliance. By following these steps diligently, businesses can ensure compliance with beneficial ownership reporting, contributing to transparency and ethical business practices.