We Are Augustines

We Are Augustines

Business

Why Is An LLC More Popular Than Other Corporations?

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You do not have to have a master’s degree in business to know about the popularity of an LLC as a business entity type.  If you know someone who has a small business, there is a good chance that the business is an LLC.  You might even consider starting an LLC yourself if you want to go into business.  People who are averse to paperwork and to paying lots of taxes find the LLC entity type especially appealing.

What is so Great About an LLC?

LLC stands for limited liability company.  All businesses involve some amount of risk, meaning that you might lose money by operating the business.  When you choose an LLC, the company can only lose its money, not yours.  Plenty of people have gone broke when their business ventures failed.  Their businesses were not LLCs. The LLC entity designation prevents you from personal financial losses if your business fails.  Likewise, if someone sues your LLC, the court cannot make you use your personal assets to pay what the court orders you to pay the plaintiff.  Business closures and corporate lawsuits are very common.  It makes sense for cautious entrepreneurs to choose the LLC entity designation.

Getting Started with Your LLC

You must get a federal Tax ID number to make your LLC official.  You can apply online for this number, which is officially called an EIN.  It is like getting a social security number for your business.  The form is very short, and you will receive an email with your EIN the same day.  Once you get it, you can open a bank account for your LLC.

An LLC offers you great protection from financial loss.  It is the practical choice when you are starting a small business.

What Is The Format of an EIN?

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Businesses and other entities utilize what is known as an EIN, or employer identification number. This number is used for filing taxes, payroll, applying for loans, credit cards and banking. An EIN is generally nine digits long. While a social security number is also nine digits, it is written in the following format: three numbers, dash, two numbers, dash, and four numbers (XXX-XX-XXXX). AN EIN is formatted differently to distinguish it:  two numbers, dash, followed by seven numbers (XX-XXXXXXX).

Identifying the Issuing Agency 

EINs issued prior to 2001 utilized a numbering system wherein the first two digits indicated the geographical area in which the tax ID was issued. In 2001, the IRS centralized the assignment of all EINs, so this prefix does not have the same function as it once did. However, some EIN centers still have a dedicated prefix, as do EINs assigned online or through the Small Business Administration. Most businesses will find that the prefix numbers do not mean anything to them, as it does not generally matter which IRS agency assigned your EIN.

Using Your EIN 

When you write your EIN on an application or another document, it is essential that you do so with the right format: XX-XXXXXXX. If you do not, it could create problems down the line as you try to conduct business. It might lead to confusion or inaccurate records. Most documents made for businesses will have a prefilled space that follows the correct format. However, some documents simply have an empty space, since businesses or individuals might use a different type of tax ID instead of an EIN.

Simple EIN Application

Every business must have a unique identifying number. Sole practitioners might be able to use their social security number, but most businesses must have an EIN. At IRS-EIN-Tax-ID Filing Service, we streamline the EIN online application to make it easier for you. Start your EIN application here.

Top 5 Bands from 2017

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In 2017 a wide variety of bands, including some old favorites such as Maroon 5 topped the music charts which catchy new beats. To discover the top 5 bands from 2017, simply continue reading!

Top 5 bands from 2017:

Maroon 5

In 2017, Maroon 5 which is fronted by Adam Levine who serves as a judge on the Voice, released a new album Red Blue Pills, which features a variety of hit tracks. Examples of which include “What Lovers Do”, “Cold” and “Don’t Wanna Know”. All of which were released as singles and featured in a variety of charts.

“Don’t Wanna Know” was Maroon 5’s breakaway hit and featured on the Billboard Hot 100 Chart, the Hot 100 Airway Chart, and Adult Top 40 Chart.

DNCE

While DNCE which is fronted by ex Jonas Brothers member Joe Jonas released their debut self-titled album in 2016, DNCE achieved a high level of recognition in 2017. In 2017 DNCE headlined their first tour where they performed some of their most popular hits. Examples of which include “Cake By the Ocean”, “Toothbrush” and “Body Moves”.

In 2017 DNCE which is famous for its infectious, dance tracks were also nominated for several awards. Examples of which include the People’s Choice Awards statue for Breakout Artist of the Year and the iHeartRadio Music Awards’ Best Duo or Group of the Year Award.

Joe Jonas also featured in international entertainment headlines when he proposed to Game of Thrones’ star Sophie Turner.

Jamiroquai

British band Jamiroquai, which is best known for their 1996 hit “Cosmic Girl”, which featured an iconic music video which boasted three supercars, released a brand new album “Automaton”, which was Jamiroquai’s first album in 7 years.

“Automaton” was received favorably by the music community, achieving an impressive average score on Metacritic of 71. If you’re on the search for new tracks to play on your road trips, it’s well worth listening to “Automaton”.

Tokio Hotel

Tokio Hotel is a German rock band, which was founded back in 2001 and has sold over 1 million CDs and has won numerous European MTV Music Awards. Some of Tokio Hotel’s most recognized tracks include “Monsoon”, “World Behind My Wall”, “Automatic” and “Don’t Jump”.

In 2017, Tokio Hotel released their latest album “Dream Machine”, which featured a variety of catchy dance tracks. Examples of which include “Something New”, “Easy” and “What If”.

Fifth Harmony

Fifth Harmony is one of the most popular girl bands in the world and were formed as part of the X Factor. By December 2016, Fifth Harmony had already amassed 7 million digital downloads and 1.6 billion on-demand streams. In 2017, original member Camilla Cabello chose to leave the girl group in favor of pursuing a solo career.

However, Fifth Harmony still achieved a great level of success and won a People’s Choice Award for Favorite Group. An award which they picked up for the second year in a row! In May 2017 Fifth Harmony released a chart-topping single “Down”, which featured Gucci Mane and in August the girl group released their third self-titled album.

So if you’re looking to add some new tracks to your favorite playlist, it’s well worth exploring the albums of each of the 5 bands listed above!

 

What’s the Bitcoin Hype All About?

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Chances are that one or more of your friends has invested in Bitcoin, in the hopes of potentially doubling or tripling their initial investment. If you’re curious as to why so many individuals are choosing to invest their hard earned money in Bitcoin, simply continue reading.

What’s the Bitcoin Hype All About?

Potentially acquiring so much wealth, that you’ll be able to retire early

If you don’t want to spend the majority of your life working and would love to spend the bulk of your life traveling, pursuing your passions and volunteering, you may be interested in investing a small proportion of your disposable income into Bitcoin. As so far Bitcoin has helped countless individuals around the world earn enough money to quit their day jobs.

If you invested $100 in Bitcoin in 2010, your initial investment would now be worth around 75 million dollars. Which is proof that Bitcoin can potentially help you become wealthy enough to retire early as Bitcoin has shown no signs of slowing down and is forecasted to rise in price for the next two years.

Bitcoin offers a much higher potential return on your investment than other shares

Most shares will bring in a 3-20% return on investment, while you can still expect to double any money which you invest in Bitcoin. Especially if you invest in Bitcoin during the short intervals when Bitcoin drops slightly in price.

Bitcoin will only rise in popularity in the future

In today’s day and age, not many individuals are comfortable with letting a bank charge exorbitant fees in return for less than 2% interest a year. In today’s society, individuals are also getting more concerned about their privacy and are looking for ways to store their money anonymously, without a bank or their government watching every transaction they make.

As Bitcoin is an anonymous digital currency, you can expect Bitcoin’s popularity to continue to soar in the coming months and years. Further evidence which shows that you can expect Bitcoin to go from strength to strength is that since Bitcoin was launched in 2009 a wide variety of copycat currencies have emerged on the stock market. Popular examples of which include Ethereum and Dash.

However, since Bitcoin’s debut in 2009, no new digital currency has managed to topple Bitcoin as the number one performing cryptocurrency on the stock market.

You can purchase Bitcoin tax-free

If you’re interested in purchasing Bitcoin tax-free, you may want to consider opening an IRA Bitcoin account, which will allow you to purchase Bitcoin in order to save for your retirement. Just keep in mind that you may be subject to penalties if you withdraw any funds from your IRA account before you retire.

So if you’ve heard the hype surrounding Bitcoin and are keen to jump on the Bitcoin bandwagon, it’s well worth seriously considering using some of your disposable income to invest in Bitcoin and to invest in your future! If you’re lucky you may even make enough money to provide your children’s entire lives.