Understanding Term Sheets: A Key Tool for Start-up Fundraising
In the dynamic realm of start-ups and venture capital, one document holds paramount importance: the term sheet. It serves as the preliminary guide, a non-binding agreement outlining crucial investment details. For any entrepreneur seeking to secure funding, be it in the seed stage or a series A round, comprehending the essence of a term sheet […]
The Significance of Milestones and Responsibilities in Early-Stage Advisor Agreements
In the dynamic world of startups, navigating uncharted waters is part of the game. As entrepreneurs, we’re often so laser-focused on building the next big thing that we may overlook the importance of structuring advisory relationships with care. It’s not uncommon for startups to be overly generous with equity, only to realize down the line […]
Converting Personal Vehicles to Business Use: A Comprehensive Guide
As a taxpayer and business owner, you may be considering converting your personal vehicle to business use. This decision can offer significant tax and financial advantages, but it’s crucial to understand the process and legal implications. Here’s a step-by-step guide to help you navigate this transition. Step 1: Understand the Benefits Converting a personal vehicle […]
Navigating Economic Storms: 10 Strategies for Business Survival and Success
As the winds of economic uncertainty continue to blow, many businesses find themselves sailing through turbulent waters. With high interest rates and mounting consumer debt, fears of an impending recession loom large. But amid these challenges lies an opportunity for businesses to not only survive but thrive. Here, we offer a compass to guide you […]
Unlocking the Secrets of the SMB Business Life Cycle
Understanding your company’s journey from inception to maturity is not optional if you want to have a successful career as a business owner. The business life cycle, a concept thoroughly explored by experts in corporate finance, serves as an essential roadmap for entrepreneurs and owners of small to medium-sized businesses (SMBs). This guide walks you […]
Smarter Headcount Management with AI
In the face of slowing economic times and rising labor costs, small and medium-sized businesses (SMBs) must find innovative ways to maintain profitability across all industries. One way to increase productivity and streamline day-to-day operations is to use artificial intelligence (AI) engines like ChatGPT. Although AI platforms can seem daunting to new users, with a little […]
Recession Proof Your Business Against an Economic Downturn
Recent data and insights from Bank of America CEO Brian Moynihan indicate a noticeable slowdown in consumer spending, which inevitably has significant implications for small- and medium-sized businesses (SMBs). Americans’ spending growth has decelerated from nearly 10% in May 2023 to about 3.5% this year. Business owners around the nation must adapt to this changing economic landscape […]
Notary Income Is Taxable! It is Just Not Self-Employment Taxable.
Notary Income Is Taxable! It is Just Not Self-Employment Taxable. Legends and myths abound about the treatment of Notary Income. The most dangerous statements go something like this: “Notary income isn’t taxable.” That’s not exactly true. “Notary” Income is taxable income, it’s just not subject to self-employment taxes! All income earned from providing notary services, including notarial fees, […]
Cryptocurrency Tax Enforcement
Cryptocurrency Tax Enforcement Because no centralized institution records each cryptocurrency transaction on the blockchain, it is inherently more difficult for the IRS to track these transactions — thus rendering cryptocurrency conducive to money laundering. That may continue to be the case until, perhaps, the IRS makes an example or two out of particularly noncompliant taxpayers. […]