by Arthur | March 8, 2012
Small businesses are still responsible for generating most new jobs in the US. However, the smaller the enterprise, the more difficult it normally is to recover from a bad hiring decision. The burden of finding the best possible employee to do a specific job can weigh heavily on new entrepreneurs- After all, one employee in [...]
by Arthur | January 24, 2012
Raising capital is a problem all entrepreneurs need to deal with even before they can get started. It’s not just about raising enough cash for plant assets like space, equipment, and other big-ticket purchases. Startups as a rule-of-thumb need enough capital to cover operating costs including utilities, maintenance, salaries and expenses related to the cost [...]
by Guest | January 3, 2012
Despite the economic downturn of the last few years, small businesses have still been cropping up left and right. The financial woes of the country haven’t dampened the entrepreneurial spirit the country is known for. But starting a business from scratch is hard. It takes a lot of work, dedication, and patience, not to mention a lot of time and money. Buying an existing business isn’t exactly going the easy route, but it may at least be easier. Here’s how.
by Mir Rooshanak | June 30, 2011
You may be apprehensive about switching to an automated billing system due to unfamiliarity or a notion that you’re company is too small and can’t afford it. Maybe you think it’s too hard to set up. If you’ve resisted automating your billing, it may be time to reconsider.
by Mir Rooshanak | June 8, 2011
Earlier today, the Senate failed to get the 60 votes necessary to delay the Durbin Amendment which sets forth rules capping interchange fees for debit cards. Interchange fees are fees retailers are charged each time they accept payment by debit card or credit card. Currently the bank charges an average of 44 cents for each debit card swipe processed. According to 2009 data from the Federal Reserve, these fees add up to about $16 billion over the course of a year. These fees are reported to pay for administrative and anti-fraud expenses–according to the banks.
by Mir Rooshanak | April 6, 2011
If you are a sole proprietor, a partner in a partnership, an independent contractor, freelancer, or otherwise make money on your own, you are considered self-employed by the IRS and you have a self-employed tax liability if you had net earnings greater than $400 from self-employment. Net earnings are the gross income you generated through self-employment minus ordinary and necessary business expenses. If you make less than $105,577, your net earnings subject to self-employment tax is 92.35% of your net earnings from self-employment.
by Mir Rooshanak | March 14, 2011
Organization is an important part of running any type of business. After all, you don’t want to be looking through boxes of papers when you need a particular document. Organization is important for running your business, but it is critical for your financial records. Make sure you’re filing receipts and other financial documents in orderly fashion so you can easily locate them in the event of a tax audit. Plus, organized financial records will help you prepare financial statements more accurately and track the progress of your small business.
by | February 9, 2011
Cutting business costs, both for small and big businesses, is a necessity that may come to the forefront due to an adverse situation such as a sluggish economy or other particular financial challenges that are more specific to your small business. To face these challenges, small business owners should prepare and follow strategies that will help their small business grow with a predictable rate and maintain expenditures below the monthly income. Failing to manage your expenditures will drain away your assets and possibly leave you in debt.
by Mir Rooshanak | January 14, 2011
Typically, a business is allowed deductions for depreciable, tangible, property. However, § 179 allows a business to treat the entire cost of any § 179 property as an expense which is not chargeable to their capital account. The full purchase price is allowed as a deduction for the taxable year in which the § 179 property was put into service — typically the year it was purchased.
by Mir Rooshanak | September 28, 2010
Getting a government grant is difficult. Don’t be fooled by late-night infomercials promising free money. Nothing in life is free. Whether you’re starting a small business or expanding your business, you need money. The Small Business Administration (SBA) is an independent agency established by the federal government to help small business. [...]
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