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July 2017 Archives

Entrepreneurs can use this tip to maximize their bottom line

Entrepreneurs are go getters. These business men and women have that extra grit that’s needed not just to get ahead in the business world, but to forge their own path. As such, these canny business experts are always looking for new ways to maximize their bottom line. One news source that is dedicated to this group, Entrepreneur, recently published a piece with some advice on how to mitigate costs and maximize a business’ bottom line.

Claiming nonprofit charity status: Are you ready for an audit?

How important is the nonprofit sector to the economy? Pretty important, if you gauge things by data compiled by a variety of organizations. In Minnesota alone, nonprofits are estimated to be responsible for the employment of more than 14 percent of the workforce. Nationally, estimates are the sector contributes close to $890 billion to the overall economy.

Should the goodwill of a business be a taxable interest?

When you think about the sale of a business, you typically think about the assets of the business being sold to another party in exchange for a sum of money. Of course, the sale would be a taxable event for the seller, as he or she could realize a windfall in the transaction.

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