Posts Tagged ‘Partnerships’
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…
Read MoreBreaking 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…
Read More6 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…
Read MoreHow 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…
Read MoreTypes 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…
Read MorePartnerships 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…
Read More4 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…
Read MoreHow 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…
Read MoreGoing into Business with Your Best Friend: A Good Idea or Potential Problem?
My best friend and I would lock ourselves in my tiny, yellow room in Brooklyn, sitting on my bed with a hundred pieces of paper around us, quietly and carefully plotting how we would launch our business. This was an exercise we had done several times during the course of our 15-year friendship, but this…
Read MoreFamily Business: Partnership Mergers
In any successful family business there will likely come a time when descendants will want to take over the business from the older generation of owners. Usually, this will require that entities will need to be split into different business entities to accommodate both differences between the descendants (perhaps the descendants can’t cooperate with each…
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