From SBA.GOV Website:
Partnerships fail for many reasons. Misalignment of personality is possibly the first reason that springs to mind, but according to Michigan law firm Family & Aging Law Center , the two most common reasons that business partnerships fail is 1) failure to make an adequate plan, and 2) more importantly, from a legal perspective, failure to have a written partnership agreement that outlines in detail the partnership structure.
 
Why is the partnership agreement so important? Most partnership agreements are written up at the beginning of the business venture and outline …

From www.irs.gov:  IRS Summertime Tax Tip 2013-25
Some people are surprised to learn they’re due a large federal income tax refund when they file their taxes. Others are surprised that they owe more taxes than they expected. When this happens, it’s a good idea to check your federal tax withholding or payments. Doing so now can help avoid a tax surprise when you file your 2013 tax return next year.
Here are some tips to help you bring the tax you pay during the year closer to what you’ll actually owe.
Wages and …

 
 
From www.irs.gov
If you’re selling your main home this summer or sometime this year, the IRS has some helpful tips for you. Even if you make a profit from the sale of your home, you may not have to report it as income.
 
Here are 10 tips from the IRS to keep in mind when selling your home.
1. If you sell your home at a gain, you may be able to exclude part or all of the profit from your income. This rule generally applies if you’ve owned and used the property as …

From www.irs.gov:   IRS Summertime Tax Tip 2013-22
Each year the IRS sends millions of letters and notices to taxpayers. Although some people may feel anxious when they receive one, many are easy to resolve. Here’s what to do if you receive a letter or notice from the IRS:
1. Don’t panic. Follow the instructions in the letter.
2. There are many reasons the IRS sends notices to taxpayers. The notice usually covers a specific issue about your account or tax     return. It may request payment of taxes, notify you of a change …

IRS Summertime Tax Tip 2013-12:  From www.irs.gov
Do you work from home? If so, you may be familiar with the home office deduction, available for taxpayers who use their home for business. Beginning this year, there is a new, simpler option to figure the business use of your home.
This simplified option does not change the rules for who may claim a home office deduction. It merely simplifies the calculation and recordkeeping requirements. The new option can save you a lot of time and will require less paperwork and recordkeeping.
Here are six …