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 legal entity for your business dictates how you deduct the expenses not covered by your company. Sole proprietors. Independent contractors and other sole proprietors and their businesses are one and the same; in effect there are no unreimbursed...
Maybe my radar screen just needs a bit of a tune-up. That’s because the word “green” hasn’t been on it as of late. For a while, it seemed like everybody was talking about green. Green energy. Green chemicals. And, green franchises. A few short years ago, I was talking and writing about what’s turned out to be an entire new sector in franchising. I was very excited about the business possibilities. I launched a green franchise web directory. I helped a solar energy franchise get the word out about their opportunity...
47% of small businesses don’t have a website. Can you believe it? Establishing a web presence is easier than ever these days and there are so many tools out there that will make it quicker and more influential on your bottom line than ever before. Here are three resources that will not only convince you that every small business should have a great website, but guide you in exactly how to make that a reality – as painlessly and effectively as possible. Make Your Website Work for You Do you have one of the 95% of small business...
In a recent report, over 63% of business owners attempting to find funding say they most often targeted banks. Unfortunately, the success among these respondents of actually getting a business loan was a low 27%. However, recent news suggest small business owners considered creditworthy are discovering it to be easier to get business loans from traditional banks. This is good news for the economy since access to funding for small businesses is a part of job and economic growth. Unfortunately, bad credit plagues a large percentage of...
If you run one of the 14+ million home-based small businesses in the United States, congratulations. You’ve got lower overhead, a shorter commute and the opportunity to be more productive than your office-based competitors. Still, working from home isn’t all eating peanut butter out of the jar and wearing your fuzzy slippers. There are plenty of pitfalls that can distract you from getting your work done. Here we look at 10 ways to ensure you’re set up for success in your home office. 1. Carve Out a Workspace...
It’s hard to believe with all the options we have for sharing contact information electronically, but the good old-fashioned business card is not going away any time soon. According to a survey by global crowdsourcing marketplace Designcrowd, a whopping 87 percent of Americans still exchange business cards when they meet someone for the first time. If you think this is an empty gesture done out of habit, think again. More than two-thirds of survey respondents say business cards are useful because they either enter the information into...
There was a time, a few decades ago, when I thought sticking to the plan was a good for business. “Because that’s the plan” seemed like a good thing. But I’ve changed my mind. Having a plan is absolutely a good thing. And sticking to the planning process — which means regularly checking results, evaluating progress, and revising a plan — is absolutely a good thing too. But sticking to a plan? Just because it’s supposedly something people do? No. Years ago, I was one of four friends taking a two-week...
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 responsibility is great and the penalties for missteps make it essential that you do things right. 1. Misclassifying workers Perhaps the hottest audit issue today is misclassifying workers. There’s incentive to treat workers as...
You need to know how long it’s going to take to start recouping your investment in the franchise concept you’ve chosen. You certainly shouldn’t have to guess how long it’s going to take for you to see some green. If you’d like to find out when the money will start rolling in, keep reading. I’m going to show you how to get that money question answered. Open For Business The day you open your franchise business up, you should see some money rolling in. That day…Grand Opening Day should be a day to...
While some of online marketing is trendy and will inevitably fade away, there’s no disputing that content marketing is here to stay. If you’ve heard this buzzword, but aren’t really clear on what it includes, that’s probably because its definition is expanding as marketers find new ways to provide content to their audience. In general, content marketing includes: Blogs Videos Infographics Whitepapers/Ebooks How to Get More Readers (and Thereby Customers) The point of content marketing is to attract...
Top Rated Articles
About This Blog
Views from small business experts on growing your business
- July 2014 (11)
- June 2014 (17)
- May 2014 (23)
- April 2014 (28)
- March 2014 (21)
- February 2014 (16)
- January 2014 (22)
- December 2013 (15)
- November 2013 (26)
- October 2013 (17)
- September 2013 (24)
- August 2013 (21)
- July 2013 (26)
- June 2013 (24)
- May 2013 (29)
- April 2013 (29)
- March 2013 (27)
- February 2013 (26)
- January 2013 (30)