Small Business

The Best Small Business Insurance For General Liability, Workers Compensation, Commercial Auto and Umbrella Coverage

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If you own a small business you know that with all of the rewards that come with being an entrepreneur there are also financial and legal risks that act as a daily overhang on your business. If one of your employees is injured on the job, the medical costs could bankrupt your business. If somebody [...]

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2011 & 2012 Paycheck Changes: Payroll Tax Credit Extension

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[Updated Dec 2011] There is a fierce political debate going on in Congress to extend the payroll tax credit and unemployment benefits into 2012. The payroll tax credit which cuts 2% of an employees social security taxes for a saving of up to $1000, affects about 160 million Americans and is the biggest bone of [...]

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2011 Business and Corporate Tax Rates with Small Business Jobs Act Tax Changes

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With the passing of the Bush-era tax cuts and small business jobs act tax provisions, a number of tax laws will come into effect this year. Here is a summary of the key tax changes and how your business and personal income taxes could be affected. 2011 Tax Rates The 2011 corporate tax rates are [...]

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5 Insider Tips for Starting a Small Business

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This is a guest post from small business owner and great personal finance blogger, Phil Taylor of PT Money: Personal Finance. I spend every day writing on the subject of personal finance. So it’s rare that I get to discuss straight-up business tips. But because of the growth of my once little known blog, I’m [...]

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How to Get and Qualify For a Small Business (SBA) Loan

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In the current economy with 10% unemployment many people are becoming self employed small business owners as a way to make living. Apart from the daunting task of starting a viable business the biggest challenge is to actually get the funds to start or keep the business running. This is particularly the case if your [...]

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Updates on 2010 Government Tax Credits – Home Buyer Credit Filing Extension, $250 SSI and Medicare Gap Payments, Teacher Credits and Unemployment Insurance

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I have posted updates to a number of articles covering the spectrum of government stimulus funded tax credits and deductions. Here is a summary of the updates with a link to the detailed articles for more detailed information, qualification criteria and latest status. If you haven’t already, join 6000 plus subscribers to get the latest [...]

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Best Business High Interest Savings Account – Choosing an Online Business Savings Account With a Top Rate

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After about one year of incorporation of my blogging business, I have managed to build a decent amount of savings that was earning exactly 0.01% in my Wachovia business checking account. While I like the features of the checking account, it was not making my business savings work for me. So after receiving a promotional [...]

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Obama Health Care Reform Rules and TimeLines, Medicare Rebates, FSA/HSA Changes, Family Coverage and Lifetime Caps

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[Update Sep 2010] Several New Health Care Rules Effective Now With the passage of health care reform a major political achievement for the Obama administration, Americans will finally start seeing the actual impacts of many of these new laws. The main changes are discussed in the previous updates below, but here are the key new [...]

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2012 vs 2011 SEP IRA Contribution Limits and Eligibility Rules

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[Updated for 2012 limits]  A year or so after starting my small business and completing my first annual tax return my accountant advised that I start looking into a retirement account/plan for my business in order to lower my overall tax bill and also effectively set aside some of my business profits towards retirement. After [...]

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Claiming the Small Business Health Care Tax Credit plus Employer Fines, 2010 Tax Credits and Employee Subsidies

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[Update Dec 2010] The IRS has released final guidance for small employers eligible to claim the new small business health care tax credit for the 2010 tax year.  The IRS have also provide a one-page form and instructions  for small employers to use for claiming the credit for the 2010 tax year. New Form 8941, [...]

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Five Factors to Consider Before Buying into a Franchise Opportunity

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A slumping economy and the prospect of prolonged unemployment has led many workers to consider going to business themselves and because of the perceived safety, brand name and established support structures, franchising is often a popular option. In fact rather than use their redundancy payouts to pay off a chunk of the mortgage and other [...]

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Setting up My Small Business Home Office

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I recently incorporated my first company. It has one employee – me – and its only asset is this blog. But it was a great feeling to officially become a small business owner, thereby joining 15 million other Americans. The reason for incorporation was primarily driven by the taxation benefits as I detailed below, but [...]

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