A successful sales team is essential for most small to midsize businesses. Without skilled and motivated salespeople, keeping revenue flowing can be tough. One of the best ways to attract and keep top sales talent is to offer a fair and motivating compensation plan. But finding the right sales compensation model can be tricky. There […]
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Partnerships are often used for business and investment activities. So are multi-member LLCs that are treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through taxation. They also must follow some special and sometimes complicated federal income tax rules. Governing […]
Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, your personal liability, and other issues. For many businesses, a limited liability company (LLC) is an attractive choice. You can structure it to resemble a corporation for owner-liability purposes. You can also structure the […]
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When drafting partnership and LLC operating agreements, various tax issues must be addressed. This is also true of multi-member LLCs that are treated as partnerships for tax purposes. Here are some critical issues to include in your agreement so your business remains in compliance with federal tax law. 1. Identify and describe guaranteed payments to […]
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