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It's important for business owners to understand the risks behind signing personally on a business loan or line of credit. Most lenders require that small businesses sign personally. If the business defaults the debt, it will not only hurt their business but also their personal finances and credit. The process of applying for a loan …
Continue reading The Risks Associated With a Personal Guarantee
As a small business owner, perhaps you've been wanting to start a retirement plan for some time now and just don't know where to start. To help you discover which retirement plan is best for you, I put together a list of my favorites. They are easy to set up and cost effective to maintain. …
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Having eyes and an ear on the competition is just as important as listening to your customers. Here are some tips on how to stay ahead of the curve and help attract more business your way.As a small business owner, you’re probably very aware of your competition, and if you’re not, you should be. As …
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In the last 20 years, the opportunity to run your business on a global level has become much easier. No longer is international business only for mega-corporations. Now, small businesses can get in on a piece of the worldwide economic puzzle quite easily. In one survey, 58 percent of small businesses indicated they have at …
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Vendor selection isn´t always the sexiest aspect of owning a small business, but the resulting relationships can have lasting effects on the success of your company. These tips will help you know when to say "yes!" and when to walk aw Small business owners tend to be visionaries with very specific ideas on how they …
These strategies take time, effort, and sometimes money to establish, but once built into the foundation of your small business, financial stability will be within reach. Small business owners and home service professionals often face a significant challenge in keeping their enterprises sustainable: financial stability. Without stability in your revenue and expenses, it becomes much …
Continue reading How Can You Make Your Small Business More Financially Stable?
To alleviate the burden on tax-exempt organizations and the IRS, the Service announced, with the issuance of Rev. Proc. 2018-38, that it will no longer require most tax-exempt organizations to report the names and addresses of substantial donors. The change does not apply to purely public charities exempt under Sec. 501(c)(3) because they are required …
Continue reading Many tax-exempt organizations no longer need to list donor information
As a self-employed person, you probably have been watching the development of the Tax Cuts and Jobs Act with some trepidation. The tax code is not often kind to the self-employed, nor are most of the changes to the code. However, the new tax law retains most self-employment deductions and offers a few new forms …
Continue reading Top 15 Tax Deductions For The Self-Employed
The IRS warned employers and small businesses to beware of growing attempts by cybercriminals to target businesses to obtain the business's and employees' information. These criminals then use the stolen information to open credit card accounts and file fraudulent tax returns for "bogus refunds." In the past two years, the IRS has noted an increase …
Continue reading IRS warns small businesses about tax return identity theft
The IRS is working on a draft version of the 2018 Form 1040, U.S. Individual Income Tax Return, that reduces the size of the form to two half-pages in length and eliminates more than 50 lines, compared to the 2017 version of the form. The draft form moves many items that The 2018 draft form, …
Continue reading Form 1040 to be shorter but with more schedules
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