When determining what entity type is best for your organization,
you need to consider several factors, and working with an outside
adviser can help avoid trouble down the road.
A limited liability company (LLC) often makes the
most sense, as it provides the most flexibility, but there are
other options to consider. Even with an LLC, you need to determine
the best way to be taxed.
What types of entity structures can
businesses choose from?
The most common options are a C corporation, an...
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A new small business investment tax credit is available as a
part of the recently passed Ohio Budget Bill. The nonrefundable
credit of 10% of a qualifying investment is available for
investments in certain small business enterprises operating in
Ohio. The credit is up to $1,000,000 per taxpayer or $2,000,000 for
married couples filing jointly.
What businesses qualify for investment?
- At the time of the investment, either total assets do not
exceed $50,000,000, or annual sales do not exceed...
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Seven Steps for Delegating Work
Do you own a small business? You may feel that
the success-or the failure-of the business rests entirely on your
shoulders. So you try to be in all places at all times. However, in
most cases, this will result in problems for the operation and
decreased productivity by other workers.
Solution: Practice the fine art of delegation. (It is an art, not a
science.) If you parcel out certain jobs among other staff members,
you can devote more of your time to areas with...
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