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here are less than two weeks left in 2012 but that is plenty of time to take steps to lower your small business tax liability. Given the uncertainty over what will or won’t happen with regards to income taxes, it’s best to take advantage of every opportunity now in case they [...]
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Continue ReadingIf your business is located in a state with a high income tax, there are options available to significantly reduce or even eliminate that tax liability. In order to entice businesses to set up or expand operations within their borders, state governments offer income tax credits.
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Continue ReadingMany small-business owners use their personal vehicles for business use. The expenses related to this use are a legitimate business expense and can be deducted on your income taxes. The IRS does, however, require proper documentation and failure to provide…
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Continue ReadingAccording to the Chamber of Commerce, only 20 percent of small businesses transfer to a new owner successfully. This has important implications for owners who have on average 80 percent of their net worth tied up in their businesses.
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Continue ReadingMillions of small businesses use accounting software packages like QuickBooks. Many, however, don’t have the proper training which can lead to overstating or understating your revenues. The first will cause you to overpay income taxes; the latter could lead to an audit and underpayment penalties.
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Continue ReadingWhile taxes have always been an important factor to consider when making business decisions, their importance will go up significantly.
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Continue ReadingThe next four years may prove challenging for small-business owners. According to Dr. Jeffrey Cornwall, the Jack C. Massey Chair in Entrepreneurship and Director of the Center for Entrepreneurship at Belmont University in Nashville, Tenn, it is a near certainty that taxes on small businesses will increase.
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Continue ReadingIn mid-2011, Republican Speaker of the House John Boehner and Democrat President Barak Obama were negotiating a deficit reduction. While that negotiation ultimately failed, the terms of that deal could serve as a starting point for negotiations on addressing the fiscal cliff.
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Continue ReadingSmall-business owners continually make decisions between doing things themselves or paying someone else to do it. It’s a trade-off between the cost of your time and the limited amount of cash at your disposal.
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Continue ReadingWith the 2012 elections now over, one major unknown for investors has been answered. Obama’s re-election will have a significant impact on many industries and investors need to take this into account when making investment decisions.
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I can teach you proven strategies for growing sales and for raising money from investors. I founded EcoFin Media, Trans 24/7 and Proximo International.
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