A business partnership is a great way to start a company. Through a partnership, a business can have many sources of capital to make it survive the test of time. The initial resources also give the startup an advantage in the market. However, there comes a time when things are not going as you had […]
Partnerships
Which Business Entity is Right for You?
Have you been dreaming about starting your own business? Congratulations! But now what? There is a lot to think about when establishing your new business. One of the first steps for many entrepreneurs is setting up their business entity—whether you’re a rideshare driver, a real estate professional, or a graphic designer, setting up your business […]
What is the Schedule K-1 Tax Form for Businesses?
Are you a partner in a business? Do you receive distributions from an S corporation? If you answered “yes” to either of these questions, then the business entity you participate in should have provided you with a Schedule K-1 tax form. But just what is a Schedule K-1 and how does it work? Reporting Pass-through […]
Franchising with a Business Partner
Franchising is a considerable endeavor that comes with its fair share of obstacles and rewards. The question is: Would you rather go it alone or with someone you trust? A business partnership is defined as two or more people who start or expand a business (or franchise) together. It can mean splitting everything 50-50 or […]
Breaking Up in Business: How to Do It Painlessly
As the founder of an online resource specializing in all things marriage (including divorce), I’ve come to learn that business relationships have many parallels to marriage and intimate relationships. They start with enthusiasm and passion, they grow through balance and communication, and they endure the peaks and valleys of life. But sometimes, they also end. Divorce for […]
6 Essential Considerations When Choosing the Right Cleaning Company for Your Business
When deciding to employ a new cleaning contractor for your premises, it can be a huge undertaking. There are many reasons for this, and there can be a number of factors to consider: Is the company capable of the job? Are the operatives trustworthy? Do they have the industry accreditations necessary to comply with health […]
How Size Matters in Brand Partnerships
Brand partnerships can be a great growth strategy for businesses as small as the health club on the corner or as large as Coca-Cola. But as with dating apps, you need to be extremely careful who you hook up with. One of the most important elements to consider is size. But don’t merely look at […]
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 […]
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 […]
4 Lessons from the Startup World That Will Benefit Your Small Business
When you’ve been in business for some time, it’s hard to remember what it was like when you were first starting out. In some sense, it’s much safer and easier to rest on your laurels than to have to risk inventing something new. But the truth is, inside every established business is a start-up waiting […]
