Posts tagged small business
99 Ways to Influence Change
Nov 10th
by Heather Stagl, founder of Enclaria LLC
If changing the behavior of others followed just a few simple steps, it would be easy! As someone who has tried to implement change in an organization, you know that it’s usually not. That’s because there are a lot of ways to influence people to change the way they work, and not all of them are effective in every situation or with every person.
When you set out to change your organization, or feel like everything you’ve tried hasn’t worked, consider the following list of 99 Ways to Influence Change:
To see the remaining items on Ms. Stagl’s list, please go to http://bit.ly/972pD7.
Do You Have What It Takes to Deduct Your Holiday Parties?
Nov 2nd
by W. Murray Bradford, CPA
This article gives you the knowledge you need to deduct your holiday party. The deduction depends on two factors:
First, whom did you invite to the party?
Second, what did you do at this party?
The “whom” and “what” are intertwined, so that’s the way we will discuss them in this article.
Employees
The cost of a holiday party for your employees is automatically deductible. No business meeting need occur. No business activity need occur.
Further, this party is not subject to the 50 percent cut that applies to entertainment expenses. Thus, make sure that your chart of accounts or other tax records contain a classification for entertainment that’s 100 percent deductible.
Spouses of Employees
You may allow your employees to bring their spouses to the holiday party. You deduct the cost of entertaining the spouses just as you deduct the cost of entertaining the employees. Thus, a holiday party for employees and their spouses is 100 percent deductible.
To read the rest of Mr. Bradford’s article (and learn more about inviting customers or patients and how to document your party!), please go to http://bit.ly/c2YGPw.
Cash-Basis Taxpayers and Last-Minute Checks
Oct 27th
Paul Neiffer from Farm CPA Today explains the tax rules on deducting business expense payments made between cash-basis taxpayers when the check is mailed before December 31 but arrives the next year. To read Mr. Neiffer’s article, “When Is a Deposit Income – Part 2,” please go to http://bit.ly/bJeojX.
6 C’s of Successful Small Business Owners
Oct 21st
by JoAnne Berg (Wise Bread)
How do you define success?
Money? Time with family? Personal satisfaction? The creation of long-term business value? Job creation? A change for the better in the world around us?
Most small business owners use one or more of these definitions. Some aspire to all of them!
Your definition may be similar, or it may be different. The important thing is to know what success means to you. How do you make sure that you have what it takes?
To achieve success, I believe that there are six characteristics that all small business owners need. Fortunately, these traits can be developed by anyone who chooses to do so.
Here is my list:
Character
Successful business owners have excellent character. They are ethical and trustworthy; they make decisions based on what is right rather than what is expedient. Whether you are their employee, partner, investor, customer, client, friend, colleague or family member, you know that you can trust them to do the right thing, and they do what they say they will do.
Trust pays huge dividends in business. When your customers trust you to treat them fairly, give them good value for their money, and provide excellent service — your retention and repeat business goes up, marketing costs go down, and your profitability is enhanced. When your employees trust you, productivity improves and turnover is reduced. It’s not hard to imagine the cost savings and increased profitability that results!
To read the rest of JoAnne’s article, please go to http://bit.ly/bO5Huc.
No Credit CARD Act Protections for Small Businesses, Federal Reserve Board Says
Oct 14th
If you and other small-business owners were hoping that the U.S. Federal government might give business credit cards the same kind of protections as consumers get, well you can “forget it” according to a recent report issued by the Federal Reserve Board (PDF).
The Credit Card Accountability, Responsibility and Disclosure (CARD) Act, which took effect earlier this year, aims to give consumers who use credit cards some relief from excessive fees and fines.
Like consumers, business owners have been hit by rising interest rates and fees on their business credit cards. Beyond the problems faced by consumers, small-business owners are also hit with rising interchange fees (the costs card issuers charge businesses for accepting credit and debit cards).
Despite these burdens, BusinessWeek reports, the Federal Reserve Board declared that giving small businesses the same credit card protections consumers have would not be worth the potential for higher costs and reduced credit.
To read the rest of this article by Anita Campbell , please go to http://bit.ly/bTIdRW.
5 Marketing Lessons from Mr. Rogers
Oct 4th
by Sam Ford
Can you say “branding?” There. I knew ya could.
As my little girl grows up and gets interested in television and “brands” that appeal to her, I can’t help but think of those of my own early childhood. The brand she is exposed to the most is Sesame Street: It started with her diapers, moved into plush animals, and has manifested into a full-blown television love, fueled by the show’s release of a “Best of…” of its first 40 years on the air.
For me, Sesame Street existed right alongside one of the most revered figures in television history: Fred Rogers. I haven’t gotten Ms. Emma Belle any Mr. Rogers’ Neighborhood DVDs lined up yet, primarily because there’s very little available. (There’s a petition circulating with almost 2,000 signatures to get the DVDs released.) However, I have caught some episodes in re-run. And I’ve been giving a lot of thought to the lessons Mr. Rogers handed down to a young Samuel Earl all those years ago.
So, consider this a bit of a refresher course: the lessons marketing can learn from “the neighborhood”:
1.) Relationship-Building Trumps Flashiness: It’s hard to imagine a children’s show getting less flashy than Fred Rogers. Most of the time, it was him directly addressing his viewers. He took us on trips to see a few guests. And he had people stop by. Even his “make-believe world” was of the decidedly low-tech sort. Yet, I don’t remember ever feeling bored when spending time with Mr. Rogers, because he replaced that flashiness by building an honest relationship with his viewers, by making the show constantly address “our” concerns…at least as best a television personality might do in the days of a one-way medium.
2.) Don’t Promise More Intimacy than You Can Deliver: A few months back, I distinctly remember stumbling upon an episode of Mr. Rogers’ Neighborhood in a hotel room somewhere when the most extraordinary thing happened: Fred looked into the camera, and he said something along the lines of, “I’ve really enjoyed talking with you this week. I hope I have answered a few of the questions you’ve had. I really wish I could know each and every one of you personally, but unfortunately this television show is the only way we have to talk. If you have other questions that I haven’t answered, find someone you love and who loves you in your own life and ask them.” Really, is there a more perfect mindset that brands should take, online or off?
To read the rest of this article by Sam Ford, Director of Digital Strategy for Peppercom, please go to http://bit.ly/aAHqJn.
Small Business Jobs Act
Sep 28th
Yesterday President Obama signed the Small Business Jobs Act, a bill that will give our nation’s small businesses support and incentives to help them grow and hire. The bill includes a series of small business proposals that the President put forth earlier this year, and small businesses will start benefiting from the bill on day one.
The Small Business Jobs Bill Will Provide Immediate Support for Small Businesses:
The bill immediately extends successful SBA Recovery Act provisions, meaning that within a few days, it will restart the SBA’s Recovery lending, beginning with the more than1,300 small businesses that have been waiting to get the credit they need – with thousands more benefitting in the coming weeks.
And the bill includes eight new small business tax cuts – all effective as of Monday, and applying to small businesses’ taxes for this year – providing an immediate incentive for businesses to make new investments and expand.
For example:
- if you are a small business and you buy new equipment, you can immediately write off the first $500,000 of your investments;
- if you are one of over one million eligible small businesses, key long-term investments in your company will be subject to zero capital gains taxes;
- if you are an entrepreneur and take a chance on a new idea, you can deduct the first $10,000 of your start-up costs;
- and if you are self employed you can deduct 100 percent of the cost of health insurance for you and your family from your self-employment taxes.
MORE DETAILS:
Eight Small Business Tax Cuts – Effective Today, Providing Immediate Incentives to Invest: The President had already signed into law eight small business tax cuts, and on Monday, he is signing into law another eight new tax cuts that go into effect immediately.
- Zero Taxes on Capital Gains from Key Small Business Investments: Under the Recovery Act, 75 percent of capital gains on key small business investments this year were excluded from taxes. The Small Business Jobs Act temporarily puts in place for the rest of 2010 a provision called for by the President – elimination of all capital gains taxes on these investments if held for five years. Over one million small businesses are eligible to receive investments this year that, if held for five years or longer, could be completely excluded from any capital gains taxation.
- Extension and Expansion of Small Businesses’ Ability to Immediately Expense Capital Investments: The bill increases for 2010 and 2011 the amount of investments that businesses would be eligible to immediately write off to $500,000, while raising the level of investments at which the write-off phases out to $2 million. Prior to the passage of the bill, the expensing limit would have been $250,000 this year, and only $25,000 next year. This provision means that 4.5 million small businesses and individuals will be able to make new business investments today and know that they will earn a larger break on their taxes for this year.
- Extension of 50% Bonus Depreciation: The bill extends – as the President proposed in his budget – a Recovery Act provision for 50 percent “bonus depreciation” through 2010, providing 2 million businesses, large and small, with the ability to make new investments today and know they can receive a tax cut for this year by accelerating the rate at which they deduct capital expenditures.
- A New Deduction of Health Insurance Costs for Self-Employed: The bill allows 2 million self-employed to know that on their taxes for this year, they can get a deduction for the cost of health insurance for themselves and their family members in calculating their self-employment taxes. This provision is estimated to provide over $1.9 billion in tax cuts for these entrepreneurs.
- Tax Relief and Simplification for Cell Phone Deductions: The bill changes rules so that the use of cell phones can be deducted without burdensome extra documentation – making it easier for virtually every small business in America to receive deductions that they are entitled to, beginning on their taxes for this year.
- An Increase in the Deduction for Entrepreneurs’ Start-Up Expenses: The bill temporarily increases the amount of start-up expenditures entrepreneurs can deduct from their taxes for this year from $5,000 to $10,000 (with a phase-out threshold of $60,000 in expenditures), offering an immediate incentive for someone with a new business idea to invest in starting up a new small business today.
- A Five-Year Carryback Of General Business Credits: The bill would allow certain small businesses to “carry back” their general business credits to offset five years of taxes – providing them with a break on their taxes for this year – while also allowing these credits to offset the Alternative Minimum Tax, reducing taxes for these small businesses.
- Limitations on Penalties for Errors in Tax Reporting That Disproportionately Affect Small Business: The bill would change, beginning this year, the penalty for failing to report certain tax transactions from a fixed dollar amount – which was criticized for imposing a disproportionately large penalty on small businesses in certain circumstances – to a percentage of the tax benefits from the transaction.
Extension of Successful SBA Recovery Loan Provisions— Immediately Supporting Loans to Over 1,300 Small Businesses: With funds provided in the bill, SBA will begin funding new Recovery loans within a few days of the President’s signature, starting with the more than 1,300 businesses – with loans totaling more than $680 million – that are waiting in the Recovery Loan Queue.
- In Total, Extension of Provisions Which Have the Capacity to Support $14 Billion in Loans to Small Businesses: Extending these Recovery loan enhancements – which increase guarantees for SBA’s largest loan program (the 7(a) program) to 90% and reduce fees for the 7(a) and 504 program – has the capacity to support $14 billion in lending to small businesses. Already, SBA Recovery loan provisions have supported $30 billion in lending to over 70,000 small businesses.
- Within Coming Weeks, the Bill Will Allow SBA to Support Larger Loans As Well: The bill also increases the maximum loan size for SBA loan programs, which in the coming weeks will allow more small businesses to access more credit to enable them to expand and create new jobs. The bill:
- Permanently raises the maximum loan size for the SBA’s two largest loan programs, increasing maximum 7(a) and 504 loan size from $2 million to $5 million and the maximum 504 manufacturing related loan size from $4 million to $5.5 million.
- Permanently raises the maximum loan size for SBA microloans, increasing it from $35,000 to $50,000 and strengthening a critical tool for entrepreneurs and business owners in underserved markets to access start-up capital.
- Temporarily raises the maximum loan size for SBA Express loans from $350,000 to $1 million, providing greater access to working capital loans that small businesses use to purchase new inventory and take on their next order – allowing them to create new jobs.
- Treasury Is Working to Quickly Implement the Small Business Lending Fund and State Small Business Credit Initiative: In addition to these SBA provisions, Treasury is working to quickly implement two new programs designed to support private-sector lending to credit-worthy small businesses, and expects to release further details in the coming weeks concerning applications for these programs.
- The Small Business Lending Fund would make available $30 billion in capital to small banks with incentives to increase small business lending, potentially supporting several multiples of that amount in new credit.
- The State Small Business Credit Initiative will support at least $15 billion in new lending by strengthening state small business programs – many of them facing budget cuts – that leverage private-sector lenders to extend additional credit.
To read the entire White House press release, please go to http://bit.ly/9nX7EB.
Why, and How to Keep Your Business and Personal Banking Separate
Sep 24th
Whether you are working on your business part-time, operating as a sole proprietor, or starting a business with a more formal structure such as a partnership or corporation – it’s vital that you keep your business banking separate from your personal finances.
Keeping the two separate, not only provides your business with credibility, it reduces your personal liability (a must if you are incorporating your business as a distinct and separate legal entity under its own name), and helps you manage your taxes, bills and other payments.
Below are some reasons why you might want to consider a business bank account, and how to go about finding the right one for you.
To read the rest of this article by Caron Beesley, please go to http://bit.ly/cwbH1Z.
September Is National Preparedness Month – Talk to Your People
Sep 10th
From Ready.gov, http://bit.ly/9kuEJg:
Involve Co-Workers
Include people from all levels in emergency planning.
Practice the Plan
Drills and exercises will help you prepare.
Promote Preparedness
Encourage your employees and their families to: Get a Kit, Make a Plan, Be Informed.
Crisis Communication Plan
Detail how you will be in contact with employees, customers and others during and after a disaster.
Employee Health
People who have experienced a disaster may have special recovery needs.
Monday we will continue with “Protect Your Investment.”
September Is National Preparedness Month – Plan to Stay in Business
Sep 9th
From Ready.gov, http://bit.ly/aXdBbJ:
Business continuity planning must account for all hazards (both man-made and natural disasters). You should plan in advance to manage any emergency situation. Assess the situation, use common sense and available resources to take care of yourself, your co-workers and your business’s recovery.
- Be Informed
Know what kinds of emergencies might affect your company. - Continuity Planning
Carefully assess how your company functions, both internally and externally. - Emergency Planning
Your employees and co-workers are your business’s most important and valuable asset. - Emergency Supplies
Think first about the basics of survival: fresh water, food, clean air and warmth. - Deciding to Stay or Go
Shelter-in-place or evacuate, plan for both possibilities. - Fire Safety
Fire is the most common of all business disasters. - Medical Emergencies
Take steps that give you the upper hand in responding to medical emergencies. - Influenza Pandemic
The federal government, states, communities and industry are taking steps to prepare for and respond to an influenza pandemic.
Additional Resources
For more information on business continuity, see these additional documents from FEMA. The National Continuity Program can be reached at FEMA-STTLContinuity@dhs.gov or by phone, at 1-202-646-4145.
Tomorrow we will continue with “Talk to Your People.”
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