#SmallBusiness Archives | Hutchinson and Bloodgood LLP

Tax Planning

Selecting a tax accounting method for your small business

Certain “small” businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, which route should you take?

July 6, 2026

Small business owners must answer an important question: Should we use the cash or accrual accounting method for federal income tax purposes? Larger entities are required to use the accrual method. But certain small businesses can elect to use the cash method. You may want to consider this option if it will help lower your taxes. However, […]

#Accounting, #SmallBusiness, #TaxPlanning

Find Out More

Business Planning & Consulting

What’s the right entity type for your new business?

A critical part of starting a business is deciding how to structure it — and there’s no universal “right” choice. Find out how two popular entity types compare.

June 29, 2026

H&B

0

Start-ups must choose a legal entity for their business activities. The type of entity you select affects how the business is taxed and who may be held personally liable for its debts and obligations, among other things. Two popular options — assuming you’re going into business with one or more other people — are S […]

#BusinessFormation, #SmallBusiness, #TaxPlanning

Find Out More

Tax Planning

Exploring business entities: Is an S corporation the right choice?

The,concept,of,teamwork,and,partnership.,businessman's,hands,putting,together

March 10, 2025

H&B

0

Are you starting a business with partners and deciding on the right entity? An S corporation might be the best choice for your new venture. One benefit of an S corporation One major advantage of an S corporation over a partnership is that shareholders aren’t personally liable for corporate debts. To ensure this protection, it’s crucial to: Adequately […]

#BusinessFormation, #SCorporation, #SmallBusiness, #TaxPlanning

Find Out More