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Sold For a Buck: How You Can Gift Your Business Instead of Sell It

  • Recent business transaction in New Haven makes headlines for its ultra-low selling price
  • Gift and estate taxes still apply even if a business owner tries to hand off a business with generous conditions
  • Varying options for how a business transfer can occur
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Connecticut Sales Tax Free Week Begins Aug. 15

  • Annual tradition makes most clothing and footwear purchases under $100 exempt from Connecticut’s sales and use tax
  • Sales Tax Free Week has run for 21 years
  • Initiative aims to support back-to-school shopping and promote small businesses and retailers
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Census: Parents Mostly Put First Child Tax Credit Toward Savings, Debt

  • Census survey looks at spending patterns related to the first child tax credit payment in July
  • Over one in four recipients mostly spent their payment, while the remainder focused on debt or put the money in savings
  • Spending was typically concentrated on essential goods and services such as food and child care
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Delta Variant So Far Having Limited Impact on Companies’ Plans to Return to the Office

  • Set of polls finds that the COVID-19 Delta variant has had little effect on most businesses’ plans to resume in-office work
  • Several major businesses have delayed their plans to return to the office due to the spread of the virus
  • In the latest Morning Consult poll, 19 percent said their company expects to resume office operations in September
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Business News Roundup, Aug. 13, 2021

The Biden administration looks to potentially toughen its COVID-19 vaccination requirements, funding to combat unemployment fraud, and vaccination requirements for job applications are among the top business news items this morning. National The White House is considering strengthened vaccination rules…

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Developing a Company’s Pet Policy After the COVID-19 Animal Adoption Boom

  • Following a boom in pet ownership during the COVID-19 pandemic, workers are anxious about how to care for their pets when they return to the office
  • Employers have shown increasing willingness to allow employees to have pets in the workplace
  • Crafting a pet policy to establish rules, address liability issues, and more
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With Small Businesses Continuing to Struggle, Barstool Fund Will Continue Its Mission

  • The Barstool Fund will remain active as a full-time charity after initial plan to wind down its fundraising efforts
  • Established in December 2020, the fund has raised $41.5 million to assist small businesses impacted by COVID-19 shutdown orders
  • Dave Portnoy, founder of the site, said he made the decision after receiving requests to keep the fund active as well as messages of gratitude
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CNBC Small Business Poll Highlights Heightened Supply Chain Challenges

  • Poll from CNBC and Momentive finds that supply costs are a more common issue facing small businesses than wage pressures
  • Seven in 10 respondents said they’re encountering higher prices for supplies, with nearly one in four increasing their own prices
  • Forty-one percent said they are experiencing higher wage costs
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Connecticut Innovations Wins SBA Grant to Help Underserved Communities Succeed in SBIR/STTR Programs

  • Connecticut Innovations among 33 recipients of grant funding from the U.S. Small Business Administration
  • Funds will go toward training, mentoring, and technical assistance for research and development-focused small businesses
  • Grants are part of a larger effort to promote more equitable access to SBIR/STTR opportunities
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