Federal income tax requirements are important for start-up businesses. Take a few minutes to learn key information about taxes and your small business. I have always advised entrepreneurs to do two things before launching a business. First, select your business structure. Second, set up your books to help with federal tax reporting. It’s better to ...
Category Starting a Business
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Do you really want to start a business with your friend?
Have you and your best friends ever imagined what it’d be like to start a business together? I know I have. The thought of sharing an office with the same people with whom you’ve traveled and gone to happy hour with for the past ten years sounds like it would be nothing but fun. If ...
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How to Find a New Business Idea
That new business idea you’re looking for is already inside you. That's right. The time that you have spent working in a particular industry has created a field of ideas. Over time you have cultivated this wealth of information by: working in the particular industry or working in a related industry or your personal experience with the industry’s ...
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Insider Tips to Make Opening Your Clothing Retail Store Possible
Owning a clothing retail store that carries clothing brands and fashion trends you love is a possibility. To make your dream come true, you need the right execution plan. Start-Up Costs for a Clothing Retail Store An important part of your business plan is to think through and plan for upfront expenses to open your store. Some ...
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How to Refine a Small Business Startup Idea
Startup ideas for a small business usually begin insignificant, shapeless, and vague. The tips below, however, will help develop them to reality. Nature What do you intend to sell? People don't have a hard time determining what they 'd like to sell in general. It's when they need to get specific that the trouble starts. For instance, you ...
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Starting Your Startup: The Risks and How to Avoid Them
Starting your startup business is an exciting and empowering venture – and an extremely risky one. Only about 25% of startups successfully pay back their investors, and even those face a 53% chance of failing within five years. And technology startups have the highest failure rate, with Allmand Law’s putting it at 90%. I'm not trying to discourage rather than encourage entrepreneurs ...