This Week in Consumer

Victor Sy, CPA, MBA

Victor Sy, CPA, MBA Victor Santos Sy, CPA, MBA, provides professional services in accounting and tax controversy including IRS audit defense and offers in compromise. He also advises clients on choices of entity including corporations for small businesses and LLCs for rentals. Vic worked with SyCip, Gorres, Velayo (SGV - Andersen Consulting) and Ernst & Young before establishing Sy Accountancy Corporation at 704 Mira Monte Place, Pasadena, CA 91101. The firm celebrates its 35th anniversary in 2012. You may email tax questions to Vic at You are welcome to visit our website for about 300 tax tips at

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Columns Archive

How long should you keep tax records?

HOW long do you have to keep tax records? How long can the IRS audit your tax returns? Let’s discuss tips on statute of limitations so you can clean your garage this weekend. 1. The general statute to audit you … Continue reading

November 19, 2017

Should you form a partnership?

YOU may choose to run your business as a partnership. A Partnership is an association of two or more persons as co-owners who intend to carry on a business for profit. Each person must contribute money, property, labor, or skill. … Continue reading

November 11, 2017

Should you form a Limited Liability Company (LLC)?

YOU have seen businesses with “LLC” after their names. That LLC refers to Limited Liability Company which is a hybrid that combines the pass-through attributes of a partnership with the limited liability of a corporation. Fortunately, it combines the best … Continue reading

November 04, 2017

Should you form a regular “C” corporation?

YOU may choose to do business as a corporation. A corporation is a legal fiction.  It exists only in contemplation of law.  It has a separate legal identity.  That entity, not you, operates the business. It owns the business assets, … Continue reading

October 21, 2017

Should you conduct your business as a sole proprietorship?

Upon deciding to form your own business, the next question is – what type of entity should you operate – as a sole proprietorship, partnership, corporation, LLC, or LLP?  Which entity is most beneficial for you? Choosing the wrong form … Continue reading

October 14, 2017

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