18 Sep
Posted by: Vicki Ambrose in: Business Tips
“Let me tell you how it will be. There’s one for you, nineteen for me. ‘Cause I’m The Taxman. Yeah, I’m The Taxman.”
– “Taxman,” The Beatles
OK, while no one wants to confront a taxman like The Beatles’ “Taxman,” it is clear that with business comes profits, and with profits comes taxes. But it’s complicated figuring out the best way to retain earnings to not only maintain business wealth, but also handle essentials such as employee payroll, funding retirement programs and offering affordable health insurance.
To give you an initial review of the consequences of various financial decisions, read Wealth Creation for Small Business Owners by James Cheeks. An adjunct graduate business professor at Pace University, Cheeks has crafted an assured guide based on his years offering legal and tax advice for small businesses. Wealth Creation is a splendid a la carte guide for figuring out what financial moves can lead to increased wealth. I picked up a review copy whi
If you’re just starting a new business it can be tempting to decide on operating your business as a sole proprietorship simply because it’s one of the easiest structures to create because you don’t have to do anything to start one.
You just decide to run your business in your own personal name or through a fictitious name. You don’t even have to set up a separate bank account or maintain business records but I strongly suggest that you do.
This particular structure is also called a Schedule C business, because when you file your personal 1040 tax returns the income and expenses for your business are reported on a Schedule C that’s attached to it.
Even though the sole proprietorship is easy there is a great deal of risk that comes along with it. So before
13 Sep
Posted by: Vicki Ambrose in: Business Tips
Have you been wanting to expand globally or do more business outside of the United States? But maybe you just haven’t been able to afford that trip to meet with potential business partners or establish crucial face time with prospective customers overseas?
Well, today may be your lucky day — here’s your chance to take action and make that all-important international meeting happen.
As part of its Face to Face program, British Airways is holding an entrepreneurial competition, with the chance to win free international airline tickets to help you do business globally. Some 2
12 Sep
Posted by: Melissa N in: Business Tips
There’s a problem out there.
Scammers posing as “Internet Marketing Gurus” are sucking thousands of dollars out of the pockets of unsuspecting and often desperate people on their last leg financially.
That happens with all sorts of “business opportunities”.
Internet marketing is an especially lucrative field though because the products are normally “digital”… 100% profit… not even paper and ink to smudge your fingers!
They prey upon your desire to live the Great American Dream for yourself.
They paint an amazing picture.
By the time they’re done, you’ll believe that just before you started reading their sales letter they were a penniless janitor without two nickels to rub together. In fact, they didn’t
Unfortunately, business license and permit violations occur all the time — leading to costly penalties, tax problems, and even the closure of your operation.
So if you are starting a company be sure not to overlook federal, state and local licensing requirements for you business or industry. Here are some tools and resources you can put to work for you to ensure you are compliant from the get-go.
Get the Right License and Permit in One Simple Step with “Permit Me”
Every business has different licensing and permit requirements depending on its location and industry, so it can be difficult to know where to start.
I used to be an inside salesman. My job was to sell via phone and online, and to support several outside salespeople as well.
One day, one of the outside guys was in the office, and he and I were discussing clients. “I dunno how you do it,” he said. “Being chained to a desk all day? I couldn’t do it.”
We finished our chat, got a nice lunch on the company, and went our separate ways. But that “chained to a desk” comment stuck with me, and later that afternoon, in a seemingly endless meeting, I drew up the above cartoon.