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At the end of June, the U.S. Supreme Court said that the individual mandate under the Patient Protection and Affordable Care Act was constitutional, allowing all of the tax provisions in the law to go into effect as scheduled. Here are some of the actions you’ll have to take for your business to comply with the tax law in 2013. Some are very complicated and you probably want to work with a knowledgeable tax advisor to see how the tax rules apply to you. Note: The Affordable Care Act contains many tax benefits for small businesses that...
We can all agree that email is another tool used for exchanging information. But when it comes to business, it plays a much greater role then many people seem to realize. Unfortunately, one of the most common mistakes business owners make is obtaining a business email account from one of the many free email services available on the Internet. While a free email services does serve a purpose, it can give a bad impression to a potential customer or even hurt your chances for obtaining credit because some creditors require a dedicated business...
Every day, like many of you (or hopefully most of you) I network—from the comfort of my home or my office. I spend a good part of my day participating in social media, posting on Facebook, LinkedIn and mostly Twitter. One of my business partners also posts our content on other social media platforms. Networking online has served me well. I’ve met lots of interesting entrepreneurs, cemented existing relationships, marketed my work and even found a few clients. But a recent trip to Delhi, India for a conference for women...
One of the questions I’m frequently asked is how to get more traffic to your company website. I always mention blogging as a key technique, of course. You set up a blog as a section of your website. You publish compelling content on the blog. People come to the blog to read it. While on your blog they can learn more about your company, and may jump over to other sections of your site to check out your products and/or services. And if they are impressed by your content, they may share it with their circles of influence, leading to more...
Is it possible to find a legitimate franchise opportunity that only requires a few hours a week to run? And, if you do find a part-time franchise, can you make enough money for it to be worth your up-front investment, and of course, your time? Let’s find out. First off, it’s important for you to be able to distinguish a true franchise-type of business, from a non-franchise business. In most cases, franchise ownership offers: · A proven business system that’s easy to replicate...
I’ve been reminded twice in the last week about how important planning is to business, and how too many people misunderstand what a plan is supposed to do. My reminders came from two different people doing startups. Neither of them needs a business plan to show to investors. Both need business plans to figure out what steps to take and when, and how much money they need. This reminds me of these important principles of business planning that everybody should keep in mind. 1. Form follows function You’re probably aware of...
Due to the growing difficulty in obtaining traditional business lines of credit from banks, many business owners are turning to credit cards for small businesses as their primary unsecured business lines of credit. Unfortunately, the majority is turning to the wrong sources. They end up putting their personal credit on the line and all their business credit card debts show up on their personal credit reports. This means that anytime you use your business credit cards, your personal debt/credit ratios are affected. Did you know that drawing a...
Summer’s here and for most communities, that means the season of outdoor fairs, festivals and other events is underway. For a small business, community events like these can be a great opportunity to market your products and services to local residents and other event-goers. Here are some steps to get you started. Research what events exist in your community and nearby communities. Your options might range from local “fun runs,” chili cook-offs or classic car shows to surfing contests or music festivals that bring in...
Companies that have survived the economic downturn of the past several years may be in a position now to reward employees that hung in during tough times. Many workers have not had raises in years or have even seen wages and benefits cut. Before you jump to offer a raise, think about the best way to reward your staff from a tax perspective. The cost of a raise When you increase a worker’s pay, it costs the company more than the actual addition to the paycheck. The company must factor in: The employer’s share of FICA (to cover...
One of the most popular articles in the SBA Community is “8 Tips for Keeping Your Business Blog Current, Relevant and Fresh.” It has excellent advice, but after you read it you may wonder, “So how do I come up with ideas for WHAT to write about?” Writer’s block is something that affects even the most prolific at one point or another. Maybe it’s only a temporary block -- a few hours or days -- but sometimes it can go on for weeks, months, even years. Just look at all the...
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by BarbaraWeltman, Guest Blogger on Wednesday, July 18, 2012 - 12:52