August, 2020 - Provision Business Services LLC

Provision Business Services LLC

A Professional Bookkeeping Firm

Located in Albuquerque, Serving all of New Mexico

505-269-3783

Avoid a common mistake that leads to overpaying gross receipts tax (or sales tax)

There is a common error almost all beginning business owners make when calculating gross receipts tax due. (In New Mexico, sales tax is called gross receipts tax.) When most people are calculating gross receipts tax, they look on their bank statement to find the...

S-Corp Shareholder Compensation

Many small businesses are organized as S-Corporations (or S-Corps). There are tax benefits for being organized as an S-Corp as opposed to being organized as a sole proprietor. If you are a sole-proprietor or single member of an LLC, you can elect to be taxed as an...

Separating personal and business funds

Most business owners understand the importance of being a corporation, whether it’s an LLC, S-Corp, or C-Corp. Forming a corporation makes your business a separate legal entity – separate from you the individual owner or individual partner or individual...