Small Business

2017 vs 2018 SEP IRA Contribution Limits and Eligibility Rules


[Updated for 2017 and 2018 limits]  A year or so after starting my small business and completing my first annual tax return that showed a slight profit, 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 […]

Read the full article →

2017 and 2018 vs. 2019 Tax Penalty Amounts and Exemptions For Not Having Health Insurance Under ObamaCare – GOP/Trump Updates


[Updated] Will i still have to pay health insurance penalties (under the Obamacare individual mandate) in 2017 or 2018? This is the question a lot of Americans are asking. The short answer is YES for 2017 and 2018, but NO from 2019.  Here is why the individual mandate, a.k.a Obamacare penalty, is no longer in […]

Read the full article →

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

1 comment

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 […]

Read the full article →

The Pros & Cons of Taking Out a Loan vs. Venture Capital


With the economy and unemployment the way it is today, many folks are thinking about starting or growing their own small business. But this requires money to pay for things like employee’s salaries (you may be the only employee), offices, supplies, marketing and more. Entrepreneurs typically get their money from a range of sources including […]

Read the full article →

2013 Business Tax Changes and Credits in Fiscal Cliff Deal Extend Small Business Jobs Act Tax Changes


[2013 Small Business Tax Breaks Extensions] Congress and the Obama administration have reached an agreement that will extend a number of small business tax breaks through 2013 following the fiscal cliff deal which was legislated through the Taxpayer Relief Act of 2012. This includes: R&D credit extended: The Research and Development (R&D) tax credit was extended for another year and reinstated retroactively for […]

Read the full article →

A New Economic Stimulus Package With Obama-Bush Tax Cuts and Unemployment Benefit Extensions


[Update – No New Taxes with Tax Extensions Approved] President Obama has now signed into law a bill that covers a temporary extension of all the bush-era tax cuts. The new bill also contains extensions to some of the 2008 stimulus tax breaks, and even has some new tax cuts. With this legislation he has essentially created […]

Read the full article →

Updates: Claiming Home Buyer Credit Extension, Small Business Loans and Tax Breaks Plus $250 SSI Payment


I wanted to provide a few updates on some of the more popular topics on this site given recent developments. You can click on the topic header to get more details. Home Buyer Tax Credit Extension (again) and Claiming It : One of the most popular topics on this site, the many articles I have […]

Read the full article →

5 Insider Tips for Starting a Small Business


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 […]

Read the full article →

2013 Small Business Tax Deductions, Bonus Depreciation and National Transportation Projects


[Update Jan 2013] Congress and the Obama administration have reached an agreement that will extend a number of small business tax breaks through 2013 following the fiscal cliff deal which was legislated through the Taxpayer Relief Act of 2012. You can see details of the extended tax breaks in this article. ________ [Update Sep-Oct 2010] Obama’s Small Jobs Bill has been approved […]

Read the full article →

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


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 […]

Read the full article →