IRS Focused On Partnerships, Corporations, High-Income

taking a closer look at taxes

IRS has announced sweeping efforts to restore fairness to tax system with Inflation Reduction Act funding; new compliance efforts have the IRS focused on partnerships, corporations, high-income, and promoters abusing tax rules on the books. Agency focus will shift attention to wealthy from working-class taxpayers; key changes coming to reduce burden on average taxpayers while…

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SmallBizClub Hosts Georgia Inc. 5000 Winners Celebration Event

Georgia Inc 5000 winners celebration

The leaders of many of Georgia’s fastest-growing companies gathered recently for an inspirational celebration of the Georgia Inc. 5000 winners.  The special event sponsored by Inc. not only honored current achievements but looked ahead to future growth. The October 19 event unfolded at Digital Ignition, an innovative co-working and office space located in Alpharetta, Ga.…

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Leveraging Athlete Partnerships: A Boost for Small Businesses

an athletic partnership

Small businesses often operate on limited budgets, juggling between expenses, investment, and marketing. In a competitive market, establishing brand awareness and building a customer base can be challenging. One underutilized strategy that can offer significant advantages to small enterprises is athlete partnerships. By leveraging athlete partnerships, businesses can enhance brand visibility, increase sales, drive foot…

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5 Keys To Negotiating Your Fair Share Of Any Startup

I always tell entrepreneurs that two heads are better than one, so the first task in many startups is finding a co-founder or two. You need to find the skills or experience you don’t have in business, technology, or money. So the first question I usually get is what percent of the company or equity…

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My dad said: “Never take on a business partner.”

My dad was a smart businessman, even if not formally trained. He occasionally gave me advice that turned out to be more than wise, looking back at subsequent experience and events.  His personal teaching event was a typical experience, as I reflect now upon the tens of partnerships I have counseled over the years.  Most…

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How to Get Out of a Business Partnership Professionally

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…

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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…

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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…

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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…

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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…

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