The Internal Revenue Service (IRS) will release a new and allegedly improved Form W-4 in the near future. The agency states the changes will help better ensure Form W-4 is in line with the 2017 Tax Cuts and Jobs Act (TCJA). The changes could mean complications for employers. To help ease the transition, the agency provided employers with an early view of the form.
Intellectual property is a niche area that involves legal protections such as patents. Patents reward the patent holder with protection against others stealing their ideas. One argument in favor of these protections argues they encourage innovation by rewarding the effort required to make truly unique products.
Starting a business takes more than just a passion for a market idea. A successful entrepreneur must also have a bit of business acumen. One area to understand: when your business needs to incorporate or form an LLC or other type of entity.
Bayer, the multinational pharmaceutical and life sciences company worth billions, acquired Monsanto to grow its crop science division in the summer of 2018. Unfortunately for Bayer, the acquisition has not unfolded as planned. Fortunately for entrepreneurs throughout the world, the issues that arose with this deal provide a valuable learning opportunity.
The Supreme Court of the United States (SCOTUS) has made key holdings in recent years that limit the protections provided by patents. Not everyone is happy with the Court's impact on patent protections. As a result, further changes may be coming.
Tax Day is behind us, but the recent tax scramble serves as an opportunity to discuss the tax obligations of businesses. The type of business structure directly impacts tax obligations. Entrepreneurs that are considering choosing a business structure are wise to review the tax implications of each option before moving forward.
Controlling intellectual property online is a difficult task. Software, written works and even images can proliferate and the rightful owner may have a difficult time enforcing protections. The disputes that can arise were recently highlighted when a scientific group released the first ever photo of a black hole.
One of the key benefits to most types of business formation is protection from personal liability. Business owners may choose an LLC, LP or corporation for various reasons, but all three generally protect the owners from any debts or lawsuits the business itself may face.
The legal marketplace is changing. Attorneys are doing more than just practicing law, they are becoming entrepreneurs and starting their own practices in their preferred area of law. Recent data shows 23 percent of legal practitioners were interested in opening their own practices in 2016 -- a huge jump from the previous poll in 2005 showing only 5 percent were considering this business move.
There are many perks to owning your own business. You set the budget, expectations and goals -- but you also must assure that all laws are followed and tax obligations are fullfilled. For some, this is another perk. The ability to control these details may bring a sense of joy akin to completing a difficult puzzle. For others, the details may seem more of a required burden. Regardless of which description you can relate to, business owners must ensure the work is done.