A Scrum board is a visual display that tracks projects in either a physical or virtual format. The board is divided into vertical categories showing the progress of a time-based project called a sprint, and events such as sprint planning, sprint retrospective, and the daily Scrum occur as part of managing the board. If you’re…
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Flipping Houses Taxes: Capital Gains vs Ordinary Income
Flipping houses is generally not considered passive investing by the IRS. Tax rules define flipping as “active income,” and profits on flipped houses are treated as ordinary income with tax rates between 10% and 37%, not capital gains with a lower tax rate of 0% to 20%. Taxes on flipping houses will usually include self-employment…
Fiduciary Financial Advisor: What It Is, Duties & Obligations
A fiduciary financial advisor is an investment professional who is licensed with the United States Securities and Exchange Commission (SEC) or state regulators. Fiduciary advisors are important for clients because they are legally required to put clients’ interests ahead of their own. Using a fiduciary is important if you want an advisor to manage your…
Trademark Costs: DIY Registration vs. Online Service vs. Lawyer
Registering a U.S. federal trademark will likely cost between $225 and $2,000. The trademark cost if you file yourself will cost at a minimum of $225. The trademark cost using an online service will cost around $500. The trademark cost using a trademark attorney will likely cost around $1,500 to $2,000. Besides which method you…
Zoning Laws for Small Business: What You Need to Know
Zoning laws, also known as zoning ordinances, define 1) what types of land use is allowed for a given area and 2) building regulations such as maximum building size or the need for fire escapes. If you’re starting a business, you need to be familiar with the zoning laws that cover your building and area….
What Is A Cooperative? And How Do You Start One?
A cooperative, or co-op, is an organization owned and controlled by the people who use the products or services the business produces. Cooperatives differ from other forms of businesses because they operate more for the benefit of members, rather than to earn profits for investors. Cooperative businesses can be as small as a community buying…
What is a Nonprofit Organization?
A nonprofit organization serves public or mutual benefits and interests. Being a nonprofit does not mean that the organization does not generate profit, but simply that it doesn’t generate revenue for the purpose of harvesting income. They typically serve a scientific, religious, educational, or charitable purpose and, with recognition by the IRS, are tax-exempt. Nonprofits…