Entity Section
Entity Comparison
When you want to start your own business, the very first thing you should consider…
Setting up a Branch vs. a Subsidiary
– Foreign corporations that have overseas expansion plan must decide the initial structure for their…
Corporation Setup
Corporation set up procedure
1. Search Corporation Name This is the first procedure to decide on a corporate name.…
Doing Business in CA
Requirements for Money Service Business
Bank Secrecy Act(BSA) Requirements for MSBs Registration must register by the end of the 180day…
Process and required documents to set up a Business in California
1. Fictitious Name Any business that doesn’t use its legal name (the official name of…
Hiring Employees
Employee VS Independent Contractor
In order to account for payments made to service providers, you must decide whether those…
Penalty for hiring or continuing to employ unauthorized aliens
Penalties for Prohibited Practices Unlawful Employment Civil Penalties DHS may impose penalties if an investigation…
Overview of Documents to Prepare in Hiring Process
1. Form I-9: Employment Eligibility Verification The purpose of this form is to document that…
Minimum Wage
1. Federal-Fair Labor Standards Act (FLSA) The Act applies to almost every private businesses and…
Financing Arrangements
Setting up credit facility such as L/C, B/A, T/R, C/A & Term Loan, etc.
L/C-Letter of Credit includes the following: B/A-Banker’s Acceptance T/R-Trust Receipts C/A-Cash Advance D/A-Document Acceptance D/P-Document…
Personal Financial Statement
Personal Financial Statement (PFS) is composed of the following: Statements of Financial Condition Statement of…
Adequate bookkeeping and tax returns
Adequate bookkeeping is done by the following: Hard copies (paper documents) of unordinary transactions as…
Investments
Real Estate Taxation
Hereon this article, you will find information regarding taxation of income and gain from real…
Capital Gain VS Ordinary Income VS Worldwide Income
Capital Gain A capital gain is a profit that results from investments into a capital…
Bring money from Korea to U.S. or vice versa
The federal income tax is levied on the worldwide income of U.S. citizens and resident…
Accounting & Tax Service
State Enterprise Zone (EZ) and Tax Incentive
The California Technology, Trade and Commerce Agency have designated economically depressed areas in California as…
Government Audit Representation
U.S. tax system is based on self-reporting tax measures. When starting a business, you need…
Audit, Review and Compilation
1. Audit The term ‘audit’ has a specific meaning in accounting terms. An audit of financial…
Retirement
Qualified Retirement Plans
Qualified retirement plans are set up by employers to provide employees with opportunities to save…
Cafeteria Plan
A cafeteria plan is a type of employee benefit plan offered in the United States…
Personal Financial Planning
Nonprofit Organization
Nonprofit organizations are usually classified as either member serving (addressing the needs of only a…
Senior Citizen’s Replacement Dwelling Benefit (Proposition 60 and 90)
Senior citizens often sell their houses to move into new house. If you’ve lived in…
Estate Planning
Broadly speaking, it is an estate plan that encompasses the accumulation, conservation and distribution of…
Other
Social Security Benefit
Your Social Security taxes pay for three kinds of benefits; retirements, disability, and survivors. To…
Stop doing Business in CA Process
You are required to file Final Payroll Tax Return to IRS and EDD You must…
Individual Taxpayer Identification Number
ITIN (Individual Taxpayer Identification Number) is a tax processing number issued by the Internal Revenue…
