Idea of the Day®
March 18, 2025
Handling Employee Travel
Scheduling, booking flights, hotels, and car rentals, and reimbursing expenses can be burdensome on small businesses. It’s important that reimbursements meet accountable plan requirements so the reimbursements are not taxable compensation to employees and are not subject to employment taxes for employees and employers. Consider using an app or online platform to help. For example, Expensify Travel enables members to book and manage flights, hotels, rail, and car rentals while ensuring compliance with the company’s travel policies as well as reducing costs and simplifying workflows. Check the platform plan that suits your needs; pricing varies. #IdeaoftheDay
Big Ideas for Your Business
Resources For Your Business
March 14, 2025
The food truck industry has grown 8% annually over the last 5 years, offering an exciting and flexible alternative to traditional brick-and-mortar restaurants. With relatively lower startup costs, the ability to move locations, and a direct connection with customers, a food truck business can be a rewarding endeavor for culinary entrepreneurs. However, while the appeal […]
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March 13, 2025
By Barbara Weltman
Generative AI is defined as “deep-learning models that can generate high-quality text, images, and other content based on the data they were trained on.” According to a U.S. Chamber of Commerce study last September, 40% of small businesses use generative AI tools and 91% say AI will help with growth in the future. If you’re looking […]
March 12, 2025
By John Kabugua
Affiliate marketing can be a game-changer—but only if people actually see your content. You could have the most well-researched reviews, the best product recommendations, and persuasive calls to action, but without traffic, none of that matters. That’s where SEO (Search Engine Optimization) comes in. Instead of relying on social media algorithms or constantly paying for […]
March 11, 2025
By Barbara Weltman
Now that we’re at the height of the tax season, audits come to mind. Small businesses and owners who are audited may face time, considerable expense, and lots of angst. As Tom Herman, who wrote the tax column for The Wall Street Journal for many years, said: “Even if you are sure you are right […]
March 6, 2025
By Barbara Weltman
Many law changes, such as tax measures, that are being debated now in Congress will have an impact on small business. But there are some proposals specifically concerning small businesses. As you may know, the House has the Small Business Committee. In the Senate, it’s the Committee on Small Business & Entrepreneurship. Each has subcommittees […]
March 4, 2025
By Barbara Weltman
March is Women’s History Month, which is a great time to consider the impact of women in businesses. According to a Wells Fargo’s 2024 Impact of Women-Owned Businesses report, women-owned businesses are forming businesses, increasing revenue, and employing more people faster than men. Here’s a deep dive into the facts about women-owned businesses today. Women-owned […]
February 28, 2025
By Barbara Weltman
If you sell items online, you’re vulnerable to fraudsters who use various methods to let you think you have sales only to see your money go out the door. It’s been reported that e-commerce fraud is on the rise. Understand how you can be defrauded and the steps you can take to protect yourself. Types of […]
February 27, 2025
By Colleen Bench
Online businesses have to contend with returns for a variety of reasons, whether legitimate or questionable. Let’s look at this issue with respect to one type of online business—eyewear—because the challenges that face this type of business when it comes to returns can be applied to other online businesses. Overview The online eyewear sector is […]
February 26, 2025
Owning a small business is a journey filled with growth, challenges, and achievements. But at some point, every business owner must consider their exit strategy, a plan for transitioning out of the business in a way that aligns with their financial goals and long-term vision. Whether you’re planning to sell, merge, or scale, having a […]
February 25, 2025
By Barbara Weltman
Solopreneurs may be able to scale their business without having any employees. Depending on the type of business, they can outsource work to freelancers and independent contractors and use technology and e-commerce platforms to manage marketing, sales, and customer activities. But taking on employees, and at some point hiring additional ones, can help you scale […]
February 21, 2025
By Ryan Rodriguez
Employee benefits play a crucial role in attracting and retaining top talent, boosting job satisfaction, and fostering company loyalty. However, the true cost of these benefits extends beyond their face value. Business owners must account for hidden expenses, including administrative costs, payroll taxes, compliance obligations, and long-term financial commitments. Failing to budget for the full […]
February 20, 2025
By Barbara Weltman
The President and Congress are off and running with their agenda for change. How will small businesses fare in this flurry of activity? Likely some changes will be favorable while others may present challenges. And some changes may be difficult to deal with in the short run but present opportunities in the long run. For […]
February 18, 2025
By Barbara Weltman
According to the Bureau of Labor Statistics, productivity is “a measure of economic performance that compares the amount of goods and services produced (output) with the amount of inputs used to produce those goods and services.” Higher productivity means being able to produce more goods and services with the same or fewer resources. This results […]
February 17, 2025
By Jack Shaw
Some experts consider Industry 4.0 the fourth industrial revolution — it’s that important to the business world. Industry 4.0 refers to the use of intelligent digital technologies in improving manufacturing and industrial processes. It promises higher efficiency and greater safety. However, some small-to-medium businesses (SMBs) may question how all of today’s tech can benefit them. […]
February 13, 2025
By Barbara Weltman
Valentines Day is always a good time to review business policies about dating. Return-to-office policies may mean more workplace romances. Is this a good or bad thing? According to ResumeGenius’ 2025 Workplace Romance Survey, the workplace is fertile ground for hooking up. About office romances According to the survey: 44% of U.S. workers have successfully […]
February 12, 2025
Vendors provide products or services to businesses. This can include raw materials, software solutions, or professional services. Partnering with vendors allows companies to procure essential components quickly and cost-effectively. As you can imagine, maintaining these vendor relationships is pivotal for B2B organizations. This may be especially challenging in this period of tariff uncertainty and the […]
February 11, 2025
By Barbara Weltman
On the calendar, Winter is half over and Spring is just around the corner. Winter weather, however, doesn’t read the calendar, and severe storms and cold weather continues in many parts of the country. When robins will appear and tulips will bloom remains to be seen. How does continued winter weather impact your business? Here […]
February 10, 2025
Running an optimized SEO framework for SaaS companies presents challenges beyond understanding keywords and refining website structure. It requires a comprehensive approach integrating everything from keyword planning to technical improvements. This article explores the crucial elements for developing a robust SEO strategy tailored to SaaS enterprises. Exploring the Significance of Keyword Planning A robust SEO […]
February 7, 2025
By Barbara Weltman
THIS SUPPLEMENT REFLECTS CHANGES THROUGH FEBRUARY 1, 2025 This year’s book, J.K. Lasser’s 1001 Deductions and Tax Breaks, covers the tax rules as they stood on October 1, 2024. The only tax legislation from Congress since then is the Federal Disaster Tax Relief Act of 2023, which was signed into law on December 12, 2024 […]
February 6, 2025
By Barbara Weltman
It seems to me that the answer depends on who’s taking a survey or asking the questions. Nonetheless, there’s consensus on some things employees want. Small business owners should take note so they can stay competitive in the labor market. The following are some benefits to explore to retain employees and fill job openings when […]
February 5, 2025
By Barbara Weltman
THIS SUPPLEMENT REFLECTS CHANGES THROUGH FEBRUARY 1, 2025 This year’s book, J.K. Lasser’s Small Business Taxes 2025, covers the tax rules as they stood on October 1, 2024. The only tax legislation from Congress since then is the Federal Disaster Tax Relief Act of 2023, which was signed into law on December 12, 2024, plus […]
February 4, 2025
By Barbara Weltman
We’re in the midst of wrangling about tax laws from a new Administration and a new Congress. What the tax rules will ultimately turn out to be is uncertain. There will be changes, but how they will affect small businesses is unclear. It’s interesting…at least to me…to look back on some tax policies from previous […]
January 30, 2025
By Barbara Weltman
“Any change, even a change for the better, is always accompanied by drawbacks and discomforts.” — Arnold Bennett, English author If you have a qualified retirement plan for your business, you know that every year there are changes. This year and next year bring even more than the usual number of changes. These changes require […]
January 28, 2025
By Barbara Weltman
Scaling a business means growing a company while keeping costs in hand to maintain or increase profit margins. There isn’t just one way to do it. Scaling a business involves many things. This blog is an introduction to scaling a business. In the coming months, a different aspect of this endeavor—adding staff, expanding a product […]
January 24, 2025
By Christine Mitchell
The popularity of remote work is unsurprising, especially since it has many benefits, including flexible schedules, better work-life balance, and greater cost savings. However, the downside is that stay-at-home employees may be risking their eye health due to spending too much time in front of a computer screen for work. Excessive screen use can lead […]
January 23, 2025
By Barbara Weltman
“Forewarned is forearmed.” ~ Latin proverb Things happen. In many cases you can’t prevent them from happening, but you can be aware that they could occur so you can be prepared. Here are 10 situations you should be thinking about and what you might be able to do now. Preparation can save you financially, and […]
January 22, 2025
Event marketing takes various forms. It might involve a nationwide trade show or a table at a community festival. Either way, it offers an invaluable opportunity to get your business name and what you have to offer out to others. However, it can also drain your expense account. The following cost-effective event marketing strategies for […]
January 21, 2025
By Barbara Weltman
Alert: The IRS just released more guidance on Sec. 530 relief. In determining whether an individual is treated as an employee, in addition to the usual factors of income tax withholding, filing employer quarterly returns, and filing W-2 forms, the IRS added “contracting with a third party to perform acts required of employers with respect […]
January 17, 2025
I was a little hesitant to write about this event while embers are still smoldering, but I concluded that there’s much to be said and done about this situation. My sister lost her house in Pacific Palisades. But she lost even more. The building in which she worked as a physical therapist is gone, so […]
January 16, 2025
By Barbara Weltman
Filing your tax returns for income, employment, and excise tax purposes is only a small part of your reporting obligations. Being in business puts a number of tax-related information return requirements on your shoulders. These information returns—and there are billions filed annually—allows the IRS to match income reported by third parties (e.g., employers, businesses, and […]
January 15, 2025
By Brenda Wanjiku
When it comes to standing out as a small business, creativity often makes all the difference. While digital ads and social media campaigns are powerful, tangible marketing tools can have a unique impact. Wearable branding—on hoodies, tshirts, hats, and jackets—is is one such strategy that offers businesses a way to combine branding, customer engagement, and […]
January 14, 2025
By Barbara Weltman
Salmon famously swim upstream to spawn and ensure the survival of their species. It’s a good metaphor for small business owners…go against the grain to ultimately prevail. Today’s business environment emphasizes the role of technology and doing things as fast as you can. But success may be found in eschewing technology in favor of some […]
January 9, 2025
By Barbara Weltman
It’s axiomatic that businesses can’t discriminate on the basis of age when it comes to hiring, promotion, etc. A federal law—Age Discrimination in Employment Act—bars discrimination for those age 40 and older. But when handling employee benefit plans, age matters, and there are special rules tied to age. Law changes in recent years further complicate […]
January 7, 2025
By Barbara Weltman
Most businesses use vehicles—cars, trucks, or vans—to conduct their activities. For example, on Schedule Cs for self-employed individuals in 2021 (the most recent year for statistics), deductions for car and truck expenses totaled nearly $9.1 billion! There are numerous tax-related issues for using vehicles in your business. Here is a list of 12 of them (expanded […]
January 3, 2025
Cybersecurity has become one of the most pressing concerns for businesses in the digital age, and for good reason. According to The State of Cybersecurity in 2024, 94% of SMBs experienced at least one cyberattack, up from 64% in 2019. With cyber-attacks growing in frequency and sophistication, organizations face an ongoing battle to protect their […]
January 2, 2025
By Barbara Weltman
Many small business owners may set resolutions they hope to pursue in the coming year. Maybe it’s about finding and retaining good employees, adopting AI and other new technologies, or improving work-life balance. There are no statistics on how many small business owners set resolutions. But having resolutions is one thing; seeing them through is […]
December 31, 2024
By Barbara Weltman
2024 is drawing to a close. Hopefully, this year has been a good one for your business. Perhaps you’ve hit or exceeded your sales goals. Maybe you expanded your product line, hired additional staff, or added a new location. There are many ways in which to succeed. If it’s been a bad year for sales […]
December 27, 2024
By Dorothy Cooper
Lifelong learning is paramount to running a successful and thriving small business. The “Strategies for Increased Learning for Owners and Staff” post emphasizes how constant learning can help teams stay more engaged, likely become more productive, acquire new skills to use on the job, and even see cognitive benefits. It’s also crucial to ensure that you, […]
December 26, 2024
By Barbara Weltman
LATEST UPDATE: On December 23, 2024, a federal appellate court lifted a nationwide preliminary injunction on Beneficial Ownership Information (BOI) reporting. FinCEN then said the deadline for BOI action for reporting companies that were created or registered prior to January 1, 2024, would be January 13, 2025. Three days after the appellate court ruling, another panel in the same appellate […]
November 21, 2024
By Barbara Weltman
For more than 25 years, I’m proud to say my tax book for small businesses has been the go-to guide for owners and tax advisers. The 2025 edition for preparing 2024 returns as well as tax planning for 2025 has been updated to include law changes from earlier tax legislation (e.g., Inflation Reduction Act; SECURE Act […]
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Resources For Your Business
Increasing Productivity without Burning Out Your Employees
Growing Your Business with a New Business Plan
Growing Your Business by Adapting to Changing Tax Rules
Growing Your Business by Bringing In Investors
Barbara’s Books
By Barbara Weltman
COMPREHENSIVE GUIDE TO SMALL BUSINESS TAX WRITE-OFFS AND STRATEGIES FROM A LEADING NAME IN TAX If you own a small business, this comprehensive guide explains in easy-to-understand terms the essentials of business taxes to prepare you to work better with your CPA or other tax adviser or handle tax responsibilities on your own. Whether you’re […]
By Barbara Weltman
THE COMPREHENSIVE HANDBOOK FOR AMERICAN TAXPAYERS LOOKING FOR EVERY LEGAL TAX DEDUCTION AND CREDIT This edition of this popular book has been fully updated to reflect the latest law changes, rulings and court decisions impacting 2024 returns. It’s organized in a way that allows you to easily refer to the appropriate deductions and credits for […]
By Barbara Weltman
Ideas you’ll use everyday! With only so many hours in the day, it’s impossible to stay on top of key developments and opportunities to help you run your business better and smarter. 500+ Big Ideas for Your Small Business gives you quick access to resources and tips you can use every day. Whether you’re a […]
By Barbara Weltman
Your GPS to Get You Where You Want to Go in Your Business Do you enjoy driving and being your own boss with flexible work options? Are you looking for a part-time (or full-time) activity that earns good money? Maybe you’ve already discovered that there are great opportunities for making money with your car. Or, […]
By Barbara Weltman
A Step-By-Step Road Map–with Checklists–to Get You Started Up, Profitable, and Successful Whether you want to start up a part-time home-based business or jump in full throttle and work on it full time, you need a start-up guide. A road map! Home-Based Business Start-Up Guide will help you chart your course to work-from-home success. Written […]
What every self-employed person needs to know about their taxes! If you’re self-employed, chances are the majority of your time is spent finding new customers or clients, servicing existing ones, and handling each and every aspect of your business. Freelancers, independent contractors, gig economy participants, and other individuals working for themselves need to be aware […]
By Barbara Weltman and Harvey Bezozi
Created for Uber and Lyft drivers as their GPS — to help them get where they want to go in their business, safely and securely. Note: This e-Book has been updated with a new title and revised content (shown). Do you enjoy driving and being your own boss with flexible work options? Are you looking […]
By Barbara Weltman
Presenting a recently-launched, updated, paperback edition! Barbara Weltman takes an inspired look in Smooth Failing at the hard lessons learned when things go wrong. Through extensive interviews with entrepreneurs whose ventures failed for a variety of reasons — some stunningly unexpected, some painfully inevitable — Weltman gleans valuable insights about the small mistakes that can lead to large scale catastrophe. Smooth Failing seeks to save readers from similar disaster — while empowering those who are learning from failures and adversity to bounce back stronger and wiser on the often rocky road to success.
By Barbara Weltman and Jerry Silberman
12 surefire ways for your business to survive and thrive! Owning a small business can be a fulfilling and financially rewarding experience, but to be successful, you must know what to do while the business is up and running, and, most importantly, what to do when the business runs into trouble. This book is definitely […]
By Barbara Weltman
As Vicki Raeburn of Dun & Bradstreet notes in the forward, “…the successful creation of credit by small business has a significant effect on one of the most important business drivers, namely cash flow. … [This book has] the information needed to understand and build business credit.”
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