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Posts tagged "business planning"

Personal Goodwill - An Opportunity to Recognize LTCG and Avoid Double Taxation

The sale of a C corporation's assets generally results in double taxation on the sale proceeds, first, at the corporate level, and then, upon distribution of proceeds to its shareholders, at the personal level. However, individual business owners of C corporations who can establish that their personal goodwill is integral to the business and is not an asset of the corporation have an opportunity to improve their tax position upon the sale of the corporation. Such owners may (i) avoid the double taxation on a portion of the sale proceeds by allocating a portion of the sales price to personal goodwill as an asset owned by the business owner, and not the corporation; and (ii) recognize long term capital gain (LTCG) on the portion of the sales price allocated to personal goodwill, instead of ordinary income which the business owner would recognize for payments related to other intangible assets (i.e. covenants not to compete).

Two tech companies receive funds for business planning ventures

Technological advancements are usually aimed at improving various aspects of society. However, a new company looking to bring its technology to the marketplace will have to have solid business planning backed up by startup capital. This is what two startup technology companies are doing with their recently obtained grant funding.

More women may be good business planning idea for tech companies

Women make up half of the population and therefore make up half of the consumers in the economy. This is why companies in all industries and sectors have a financial interest in targeting women in their marketing campaigns to promote products and services in Michigan or in any other state. However, many companies in the software industry may be having trouble targeting women and may have to adjust their business planning strategies in order to do so.

Michigan fund helps with business planning for medical startups

The medical industry has always been an important part of society. Medicine has the ability to enhance the quality of life of those suffering from illness. This is why many advocate for the further development of the medical industry in order to better help those in need of medical care. One program created by the Michigan State Medical Society attempts to help develop the medical sector by assisting with business planning for startup medical businesses.

New company capitalizes on solar energy product in Michigan

Most scientists believe that carbon emissions are harmful to the environment in one way or another. This is why scientists are constantly looking for better ways to utilize alternative energy sources, such as solar power. Technological advancements in this field can also enable a new business to make a profit with the proper business planning . One professor from Michigan has started a new company in hopes of capitalizing on its solar energy product.

Drum maker begins business planning process in Michigan

In many types of musical genres, drums act as the backbone to the music. However, when starting a business, financing is the backbone of business formation . Start-up financing is what one entrepreneur is now looking for in his plan to start a new custom drum-making company. The 60-year-old entrepreneur has already started operating in a modest shop space in Michigan and is currently in the business planning process to expand the company.

Entrepreneurs compete in Michigan business planning competition

It is important for the local community to encourage new start-up businesses since they play a significant part in keeping the local economy vibrant and healthy. New businesses are a potential source of new jobs which can ultimately stimulate consumer spending. With the proper business planning , a new company will create a product or provide a service that is valuable to the community which creates economic growth. This is the idea behind the Accelerate Michigan Innovation Competition, which aims to support new business es in the state.

Coolhouse Labs helps new Michigan companies in business formation

Starting a new business can have a variety of challenges such as developing a sales strategy or obtaining funding to fulfill startup requirements. Many times new entrepreneurs who have good ideas but have little business experience will need help with the legal process of business formation . One new business accelerator in Michigan is attempting to provide new businesses with all of these needs as well as many other benefits.

Business planning can prevent future legal costs in Michigan

The government imposes laws on how companies do business in order to protect the marketplace as well as consumers. When a company in Michigan or any other state fails to abide by these laws it could result in serious legal consequences, including lawsuits being filed against the company. Proper business planning to ensure compliance can help to avoid this type of situation. However, JP Morgan Chase ended up in this type of situation as a result of alleged wrongdoing during the recent subprime mortgage crisis.

Michigan company focuses business planning on digital media

Digital media used to be called the future, but nowadays it is the way of the world. People use the Internet, social media and other digital media to communicate messages to each other almost constantly now. One Michigan company recognized this and has focused its business planning around capitalizing on the influence of digital media.

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