Howdy, partner! Start your business partnership off on the right foot

Description

Abstract: Regardless of what industry you’re in, a strategically planned business partnership can be a smart option for starting a company. But it’s important to evaluate whether a partnership is the best option in your specific case — and it’s vital that you take the necessary steps to ensure its success. You need to consider the tax impact and the structure of the partnership, and put an agreement in writing. A sidebar discusses how you should choose a potential business partner.