Tax Alert for Oil Field Contractors – Don’t Get Caught Looking Like a Personal Service Business

There are many benefits for large Oil & Gas companies to outsource some of their work to independent contractors, as this allows them to outsource risks. But, if you are the single shareholder of a small corporation, especially in the oilfield business, you risk being considered a personal services business if you are not onside…

Are You Ready to Incorporate Your Sole Proprietorship?

As your business continues to grow, it might make sense to start incorporating your sole proprietorship. There are a few key things you will need to consider when making this transition. The following are the most important items. Mistakes when self-incorporating: Most often, many business owners choose to incorporate on their own in order to save…