Small Business Advice – Pick of the Week October 14th, 2017

This week’s top stories include small business advice covering the following four topics:

– 10 Reasons Why 7 Out of 10 Businesses Fail Within 10 Years
– The 3 Components of a Brilliant Marketing Plan
– 8 Handy Social Media Tools for Freelancers and Their Clients
– 7 Sure Signs You’re Stuck in a Rut at Work

Each week we scour all the top business-related magazines and newspapers for articles with the best advice for the small business owner, so you do not have to.

Click here to read this weeks small business stories »

Super Simple Way to Test Your Business Model

Businesses all too often commit resources to developing a product or service based on the verbal feedback they received from some potential customers. This is no way to test your assumptions that people will exchange hard earned money for what you are selling! Employing a simple 3-page website can ultimately help you determine if customers are willing to exchange money for your offering.

Click here to learn how to test if your business will generate revenue. »

An Unbelievably Simple and Overlooked Strategy to Crush Your Market

There are 2 kinds of customers out there: Do-It-Yourself and Do-It-For-Me customers. Most businesses only consider the same type of customers others in their industry are already targeting. Targeting the same customer with similar solutions leads to less opportunity for growth and tighter margins. Few businesses see the potential to offer an alternative solution.

Click here to learn how to come up with alternative solutions. »

Small Business Advice – Pick of the Week October 7th, 2017

This week’s top stories include information covering the following four topics:

– 5 Working Methods to Monetize Content on Your Website
– 5 Questions to Ask Before Choosing a Mentor
– 2017 Top Franchises from Entrepreneur’s Franchise 500 List for Under $100k Startup-cost
– Not Quite Ready To Start A Company – Consider This Simple Alternative

Each week we scour all the top business-related magazines and newspapers for articles with the best advice for the small business owner, so you do not have to.

Click here to read this weeks small business advice stories »

How to Pay a Non-Partner General Manager of Limited Partnership

In some cases, all the partners of a limited partnership may be investors only and not managers. The partnership may hire an outside general manager (employee) to make the day-to-day decisions, and therefore, acts as the manager. In this case, the general manager is an employee of the business, but since they are not a partner (aka owner), their income is just like that of an employee in any business.

Click here to discover the proper way to pay a non-partner general manager in a limited partnership »

How to Pay a Limited Partner of Limited Partnership

When you have an investor in your partnership, who works less than 500 hours in a given tax year for the partnership, and they do not participate in its management, they are considered limited in their liability and their income is usually considered passive income subjecting the income to only federal and state income taxes based on their marginal tax rate.

Click here to discover the proper way to pay limited partners in a limited partnership »

Small Business Advice – Pick of the Week September 30th, 2017

This week’s top stories include small business advice covering the following four topics:

– How to Create a Marketing Funnel That Will Increase Sales and Profits
– How to Hire a Social Media Partner: 15 Questions to Ask
– 7 Steps to Quickly Becoming an Influential Expert in Any Field
– 14 Proven Ways to Improve Your Communication Skills

Each week we scour all the top business-related magazines and newspapers for articles with the best advice for the small business owner, so you do not have to.

Click here to read this weeks small business stories »

How to Get Paid as a General Partner of Limited Partnership

A partner in a limited partnership that is a decision-maker (general partner) is considered an employee of the business by the IRS and is treated differently than limited partners. Income for general partners is considered earned income and is subject to additional taxes but also to additional potential tax deductions. Moreover, as a general partner, you are exposed to additional liabilities.

Click here to discover the proper way to get paid as a general partner in a limited partnership »