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Blogs Contributor - Barbara Weltman

Posts by Barbara Weltman

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  • Even though a business may be non-seasonal, it can still experience significant swings in the amount of revenue it takes in; sometimes things are very busy, while at other times things may be slow. Businesses that have dramatic work reductions often terminate members of their staff in order to make...
    Industry Word - September 11, 2014 - 8 comments
  • New taxpayers, such as recent graduates who’ve just entered the job market, probably have a clean tax slate. But seasoned taxpayers have a history that can impact their taxes going forward. Due to limitations and restrictions, some tax breaks cannot be fully used in the year in which they are...
    Industry Word - August 21, 2014 - 3 comments
  • Employees are one of your biggest assets, even though they don’t appear on your balance sheet. They help you operate your business and are the faces of your company brand. But employees can also be a big liability if they steal from you. What can you do to protect yourself? Acknowledge the...
    Industry Word - July 17, 2014 - 9 comments
  • When you need help to run your business, you have to decide whether to hire an employee or outsource the work to an independent contractor. For the most part, independent contractors are on their own when it comes to taxes, insurance, and retirement savings. In contrast, employees are largely your...
    Industry Word - June 19, 2014 - 7 comments
  • Having business income but being unable to cover anticipated taxes on the income through wage withholding means you’ll have to pay estimated taxes. You’ll have to project what you think you’ll owe for the year and then pay them in four installments to the government. If you...
    Industry Word - May 22, 2014 - 11 comments
  • Bitcoin is a digital currency now used as medium of exchange by more than 10,000 businesses. Last year Apple applied for a patent on iMoney, another form of virtual currency, so it’s likely that using virtual currency as another payment method is something to be considered. How does this...
    Industry Word - April 17, 2014 - 6 comments
  • As an owner, your company may not pay for every expense you incur on its behalf. Your out-of-pocket costs may be legitimate business expenses that you’ll want to deduct. How you do this depends on your business’ entity type … and more. Deducting your out-of-pocket costs The...
    Industry Word - March 20, 2014 - 6 comments
  • If you have at least one employee, you’re responsible for payroll taxes. These include withholding federal (and, where appropriate, state) income taxes and FICA tax from employees’ wages as well as paying the employer share of FICA tax and federal and state unemployment taxes. The...
    Industry Word - February 20, 2014 - 20 comments
  • Nearly a quarter (24%) of small businesses today offer 401(k) plans to enable their employees to save for retirement, and the number is growing, according to a *ShareBuilder national survey. You don’t need a staff in order to have a 401(k) plan for yourself; self-employed individuals working...
    Industry Word - January 23, 2014 - 1 comments
  • With 2013 almost over, it’s time to focus on 2014 and get the year started off right. Here are some actions to take now or in early January that will help you optimize your tax and financial results for the coming year. 1.  Revisit your recordkeeping practices Records are vital for...
    Industry Word - December 19, 2013 - 13 comments

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