It’s important to consult with a lawyer or tax professional to determine which type of corporation is best suited for your small business, as each type has its own advantages and disadvantages depending on your specific needs and circumstances.
Business Management Tips
MARKETING FOR SMALL BUSINESS- A TIPS TO IMPACT YOUR BRAND AND BUSINESS
Host a social media contest: Encourage your followers to participate in a contest or giveaway to win a prize. This is a great way to increase engagement and build brand loyalty.
Starting your Business: How to Jump Start Upon Entry To The Market
When starting a business, there are several marketing tactics that should be done first to help attract and retain customers. Here are some of the most important ones: Define your target audience: Before you start any marketing tactics, you need to define your target audience. This will help you understand who your customers are, […]
Why do only 10% of Family Businesses Sell?
In the 1980’s, the Family Firm Institute did a study showing that about 30% of all family-owned businesses survived into the second generation; about 12% made it to the third generation; and only 3% survived through the fourth generation and beyond.
What are some potential IRA audit triggers for small businesses?
If a business consistently reports losses on its tax returns year after year, this could trigger an audit. See #2 above…..you have a multi million dollar house on the water yet your business shows a loss. True story of a childhood friend I knew and their business….never made money but had nice houses.