The Tax Cuts and Jobs Act drastically cut the corporate tax rate. But it also introduced the qualified business income (QBI) deduction. The QBI offers a way to lower the effective tax rate on the profits of owners of pass-through entities. These include sole proprietorships (including independent contractors), partnerships, limited liability companies, and S corporations. […]
Sheldon Whitehouse January 31, 2020 ARTWORK: Thomas Jackson, Cheese Balls, Napanoch, New York, 2012. Courtesy of Ellen Miller Gallery. Climate change is catastrophic for the economy. Moody’s recently warned that climate change will cause $69 trillion in economic damage globally by 2100, even with warming held to only 2 degrees Celsius. In May, the European […]
Eugene Mymrin/Getty Images Trust is the social glue that holds business relationships together. Business partners who trust each other spend less time and energy protecting themselves from being exploited, and both sides achieve better economic outcomes in negotiations. But, how do managers decide whether to trust a potential partner outside of their business? And how […]
Guest post from Dr. Gleb Tsipursky: You probably heard the advice for entrepreneurs that “failing to plan is planning to fail.” That phrase is a misleading myth at best and actively dangerous at worst. Making plans is important, but our gut reaction is to plan for the best-case outcomes, ignoring the high likelihood that things will […]
In small business, you meet all types of employees, customers and vendors. In my career, most people were incredibly generous. Unfortunately, sometimes you will have to deal with jerks in every part of the business and you need to know how to deal with them. On the Small Business Radio Show this week, Michael Brenner […]