Six tips for people starting a new business in USA

IRS Tax Tip 2020-124, September 23, 2020

Understanding the tax responsibilities that come with starting a business venture can save taxpayers money and help set them up for success. has the resources and answers to help people through the process of starting a new business.

Here are six tips for new business owners.

Choose a business structure.

The form of business determines which income tax return a business taxpayer needs to file. The most common business structures are:


In Search of Lost Schumpeter

Volodymyr Machuskyy Sr.

Entrepreneurial activity, or entrepreneurship, began to attract the attention of economists in the eighteenth century. The development of the process of scientific definition of entrepreneurship took place in several stages.

Josef Schumpeter’s theory of entrepreneurship (1934) seems to be the most suitable – entrepreneurial activity is the ability to promote innovation on the market through risky business, which is a constant source of competitive restructuring of the economy and economic growth.

Innovation means, in contrast to invention, not only and not so much the original idea of a new product or technological process, but the transformation of the idea into an innovation suitable for commercial implementation.

The driving force of the entrepreneur are his interests, needs and incentives.

business business law social networks

Business In Social Networks: Legal Features And Taxation In Ukraine.

Tetyana Antoniuk, Oleksandra Buhrina,  EO-204i, KNEU


All those who are striving for the successful development of their business today cannot ignore interaction with social networks. Their popularity is so great that there is hardly no better advertising platform for promoting goods or services.

Social networks for business can become an indispensable assistant if they are used correctly.

The purpose of our study is to show the reasons for the popularity of doing business on social networks, analyze the main advantages and disadvantages, tell what are the types of earnings online and how are they regulated (legal aspects).