One of the most import decisions when starting a business is determining the right structure. The right choice can mean the difference between a business's success and failure. Partnerships are the best option for many, but there are some important issues to consider and clauses that can be included to help to create a strong and binding partnership agreement. These spell out each partner's responsibilities, legal liabilities and financial obligations. While some states require the partnership agreement to be filed along with the business formation documents, Georgia is not one of them. Nonetheless, it is an important agreement that every partnership needs even when everyone is well intentioned and honest.
Sick days traditionally involved one of two scenarios. One was the worker calling in sick because they literally could not function and needed to stay in bed. The second was a similar situation except that it involved a sick child that could not stay home alone. According to the New York Times, those days of calling in sick and recuperating are nearly gone.
Freshman Congresswoman Alexandria Ocasio-Cortez has quickly become one of the most discussed figures in politics. Advocates point to her social media skills and quick wit as fresh and invigorating. Detractors, some of whom are in her own party, grumble that 29-year-old from New York really does not understand how things get done inside the Beltway, and she is also often faulted for her far left politics.
There are hundreds of important decisions that go into starting a successful business. While having a great idea and a reasonable amount of funding are crucial, picking the right name for a business is more important than some may think.
Uber’s model of classifying drivers as contractors has been a leading story in the ongoing discussion of how to classify an employee. The 9th U.S. Circuit Court of Appeals in San Francisco s decision and compels arbitration in three lawsuits. The appeals court vote was 3-0.
There are two recent books on startups (“The Fixer” and “Regulatory Hacking”) that each addresses the frequently overlooked importance of integrating regulatory strategies into the plan for starting a business. While each has a different perspective, the New York Times Business Section sees real merit in anticipating regulation.
The Internal Revenue Service provided new guidelines for how companies can change their accounting and business structure. The Tax Cuts and Jobs Act has now reduced the top tax rate of C corporations from 35 to 21 percent. According to accounting experts, the new law also gives pass-through (and start-up friendly) entities such as S corporations a 20 percent tax deduction on business income, although there are certain limitations, including its expiration in 2025 unless Congress extends it.
An increasing number of employers are introducing special benefits to attract and retain staff. Pet-friendly work environments have been commonplace at start-ups and tech companies, and now other companies are looking at pet-based leave.
Parents ideally love their children and will do nearly anything to help them out. This can lead to problems, however, if your child has announced that he or she wants to buy a food truck or launch a tech start-up that focuses on video games. Nevertheless, just as many businesses have started in the garage, there have been many successful businesses funded by parents, including Amazon, GoPro and Chipotle.
Renting apartments does not have the zing of a tech start-up that created the next virtual reality breakthrough, but the rental market has heated up recently in cities like Atlanta where limited rental stock has driven the rent prices ever upwards. This has left some business people to wonder if it is time to go into the real estate rental business.