The main job of a realtor is to bring real estate owners and buyers together, help negotiate the deal, and provide assistance until the transaction is complete. As a result, the realtor will receive a percentage of the deal, so you can understand the seductiveness of luxury properties. But, before you can manage anything like […]
Making Your Business Official
7 Key Follow-Up Steps to Take Your Idea to a Business
In my experience with entrepreneurs, there seems to a wealth of self-proclaimed “idea people” who aspire to start businesses, but only a few who are willing and able to dig in and get the job done. All the great ideas in the world won’t make a business, if the ideas never get implemented. Only rare […]
5 Steps for Protecting Yourself from Copyright Infringement
As an artist or entrepreneur, one of the most dreaded obstacles you may face is someone stealing your work. Copyright infringement is common and can be a massive disruption to a business or career. If it happens to you, be prepared to tackle it head on. These five critical steps will help you keep your […]
Basics of Business Structure: Choosing the Right Entity for Your Biz
So you’re starting your own business and contemplating which business structure to give it. One way to make this determination is to think about the relationship you want to have with your business partners, investors, employees, vendors and, perhaps most importantly, customers (or clients). Here are some basics to help you make that decision, depending […]
A Brief Overview on How Tax Reform Affects Choice of Entity
The Tax Cuts and Jobs Act (TCJA), signed by President Trump in Dec. 2017, has significant implications for how businesses will assess the choice of entity. Prior to reform, partnerships were a very common choice of entity, but with the new provisions in TCJA, the C corporation has become an appealing option once again (but […]
Types of Business Entities and How They Work
If you’re starting your own business, or even if you’ve been in business for a while, you may be wondering what your options are for structuring your company. There are a number of types of business entities, each of which works in different ways. Choosing the right one for your company may be the single […]
5 Name Branding Lessons from Unicorns
Unicorns definitely exist in two places: on elementary school kids’ back packs and among startups. It’s the second category that I’m most interested in, and today I want to look at the major unicorns to squeeze out some branding strategies. In the startup world, unicorns are companies with valuations greater than $1 billion that are […]
Partnerships and Pass-through Entities: What Do You Do?
Question: Jane is a Partner in a partnership with a July 31 year end. What information does she use to calculate the Sec. 199A deduction she claims on her 2018 Form 1040, U.S. Individual Income Tax Return? Short Answer: Jane uses the information from her partnership Schedule K-1, Partner’s Share of Income, Deductions, Credits, etc., for the year ended […]
How Organizations Are Classified as Partnerships
An unincorporated organization with two or more members is generally classified as a partnership for federal tax purposes if its members carry on a trade, business, financial operation, or venture and divide its profits. However, a joint undertaking merely to share expenses is not a partnership. For example, co-ownership of property maintained and rented or […]
What Entity is Right for You and Your Business?
Starting your own business can be both challenging and rewarding. You want to make sure you get off on the right foot by choosing the type of entity that’s right for you and your business. To help you make the best possible choice, here are some factors to consider along with which business entity might […]
