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Small Business Cents
In early October, the US Department of the Treasury announced a new funding for small businesses in the form of a State Small Business Credit Initiative (SSBCI). The funding, which is a component of the Small Business Jobs Act, will support $15 billion in new small business lending through local programs that help businesses grow and create new jobs. How the State Small Business Credit Works The SSBCI is state funding initiative, which means that state governments apply for a portion of federal funding. To be eligible for the funding,...
Due to the credit crunch, small businesses and other borrowers have struggled to secure financing, and as a result hopeful borrowers are considering other options besides traditional banking institutions. Read on to learn more about non-bank lenders and some points to consider when borrowing from them. Small Business Lending at a Glance Though government agencies generally do not make loans directly to business owners, the federal government provides a guaranty to banks and lenders for money lent to small businesses. Popular small business...
If you are self employed, you know first-hand how much research and focus it takes to get your business up and running. The list of topics you must familiarize yourself with including tax laws, government regulations, selling to customers- is long and varied. Chances are, you are;t an expert at it all, but tha-s ok. There are plenty of free and low-cost training opportunities available to you. Taking Tax Deductions for Training If you are self employed, you can deduct some education expenses, according to the Internal Revenue Service (IRS...
What is a payday loan? Payday loans are typically small, short-term loans intended to cover a borrower's expenses until his or he;s next payday. Payday loans vary by lenders, but the majority use the borrower's next paycheck as collateral while charging an interest and fee for the loan. While the most common name is-payday loan- they can also be referred to as cash advance loans, check advance loans, post-dated check loans, or deferred deposit loans. As the saying goes, if it seems too good to be true, it probably is. The Federal Trade...
Several states that are now requiring sales tax collection for online businesses that use affiliate marketers. Whether you use affiliates, or are an affiliate marketer yourself, learn more about the changing regulations and how to find out the rules for your state. Understanding;Physical Presenc- Nexus Rules In 1992, the Supreme Court ruled that states cannot require mail-order businesses including online retailers to collect sales tax in a state unless they have a physical presence there (Quill v. North Dakota, 504 U.S. 298, (1992). In...
With the calendar year ending, it is time to start compiling the data for tax reporting. Small business owners need to understand their tax reporting responsibilities to avoid unnecessary fines or penalties. One form many small business owners need to submit is one of the IRS 1099 Forms. The IRS 1099 Form has become closely related to independent contractors, which many small business use. What are 1099s? 1099s are not just one form, but a class of forms that provide the IRS with an information return. An information return is a tax...
When it comes to saving money, every little bit counts. In March of this year, the President signed a new $17.5 billion legislation that includes tax benefits for businesses. The Hiring Incentives to Restore Employment (HIRE) Act provides two possible tax credits for employers who hire qualified unemployed workers. What's Available? Tax benefits created by the HIRE Act include two possible incentives. Payroll Tax Exemption - For unemployed workers hired this year (after February 3, 2010 through December 31, 2010), employers can receive a 6...
Wage garnishment can be a scary topic - nobody wants their income affected or the embarrassment of a collection taken to their employer. Fortunately for everyone involved, when it comes to wage garnishment, employees have rights designed to protect them and employers have clear guidance on their withholding responsibilities. To help you understand the topic better, here is a quick guide on information about garnishing employee wages. What is wage garnishment? Wage garnishment occurs when an employee's earnings are legally required to be...
Financing FAQs Starting a business can be daunting, as you wonder how do you put yourself in the best position to succeed. The answer is simple: you begin with solid information. Every day users are posting new content to the Loans and Grants Community. Check out some of the frequently asked questions below to get yourself off to a solid start. Can I use a grant to start my business? Generally, no; despite what you may have heard, it is rare that a for-profit business would receive grant money to start or expand a business. While...
If yo;re thinking about launching a new venture or looking for ways to expand or improve your business, check out some of the invaluable financial tools and resources listed below: Savings Calculator: Adopting consistent saving habits can have huge returns down the road. Whether you are using personal savings to get your building off the ground, want to put some money aside for new equipment, or just want to plan ahead, use this savings calculator by the Financial Inventory Regulatory Authority (FINRA) to help determine a consistent and...
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by NicoleD, Former Moderator on Wednesday, December 1, 2010 - 12:11