Idea of the Day®
January 12, 2024
States with the Highest Percentage of Small Businesses
QRFY analyzed data from the U.S. Census Bureau to find the percentage of registered businesses with fewer than 5 employees for each US state in 2021 (number of small businesses compared to all businesses within a state). Florida ranked number 1, followed by New York, Wyoming, Montana, Colorado, and Utah. The state with the lowest ranking: Tennessee. #IdeaoftheDay
Big Ideas for Your Business
Resources For Your Business
January 12, 2024
By Jack Shaw
The new year is a time when many people attempt a health reset, whether that means getting a gym membership or committing to a diet. However, resolutions rarely last through the year when the bar is set too high. To help your team stay on the right track, you can bring healthy eating habits into […]
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January 11, 2024
By Barbara Weltman
If you’re in the market for a plug-in electric vehicle, you’re probably familiar with the benefits and drawbacks of this type of vehicle versus one powered by fossil fuel (see an earlier blog that details the factors to keep in mind). Some of the rules related to federal tax credits are different in 2024 as […]
January 9, 2024
By Barbara Weltman
About 43 million Americans have federal student loans totaling more than $1.77 trillion. In December 2023, the Administration proposed a limited student loan forgiveness program. If and when it will be implemented and who it will help remains to be seen, but the vast majority of those repaying loans now likely will have to continue their repayments. […]
January 4, 2024
By Barbara Weltman
It’s been reported that about 4.4. million Americans will attain age 65 this year—12,000 people a day. While those attaining age 65 in 2024 won’t be eligible for full Social Security retirement benefits until they’re 66 years and 10 months, these numbers should still make employers think about workers retiring—now or soon. Yes, many seniors […]
January 2, 2024
By Barbara Weltman
Each year for the past several years, I’ve run a series of articles throughout the year on a single main topic and this year’s topic is devoted to growing your business. Economists differ on their predictions for 2024. Some are still saying there’ll be a recession—mild or serious. Others say that with inflation coming down […]
December 28, 2023
By Barbara Weltman
Talks of a coming recession in 2024 continue. Will a recession occur? A former president of the Kansas City Federal Reserve Banks puts the odds at 65%. If so, will it be mild or severe? Economists differ on this prediction. How long will it go on (Forbes reported that the average length of a recession since […]
December 26, 2023
By Barbara Weltman
We live in the Information Age. It started with the transistor in 1947, but really took off with the advent of the internet in 1983. Since then, we’ve been bombarded with information. The term “information overload,” which is our inability to process all the information that comes our way, was coined 1964, but popularized by […]
December 21, 2023
By Barbara Weltman
Virginia Tech says “Business etiquette refers to the requirements and expectations of social and business behavior, practices and conduct that are prescribed by social convention, and a code of ethical behavior among professionals. It basically boils down to demonstrating good manners.” December is a month for celebration and a time that calls business etiquette into play. Holidays […]
December 19, 2023
By Barbara Weltman
“A partnership is not a legal contract between two equal individuals. It’s an emotional alliance between two people committed to each other’s success.” — Warren Buffet, investor and philanthropist A partnership is not a taxpaying entity, but files an annual tax return, Form 1065, to report income, deductions, and other items. The same is true […]
December 18, 2023
Operating a successful small business requires more than marketing or product manufacturing experience. You also have to understand your consumer base’s current and future needs. Urban mobility is a crucial indicator for both of those driving factors. Read this guide to learn everything you need to know about the vital concept for small business owners. […]
December 14, 2023
By Barbara Weltman
The holiday season is synonymous with giving gifts. Your business may be giving gifts at this time to various people…employees, customers, vendors, and prospects to name a few. Giving to charity is one thing (and not discussed in this blog); giving to individuals is another. What should you give? How does this affect your taxes? […]
December 12, 2023
In December, many businesses are in the midst of their busy season. Retailers are hoping for good sales. Accountants are helping businesses with year-end tax planning. Whatever your industry, there’s a housekeeping matter that shouldn’t be overlooked if your business is incorporated: holding your annual board meeting. This is a requirement in most states. Typically, […]
December 7, 2023
By Barbara Weltman
In the past, it was routine for companies to set certain standards for attire. As late as the 1980s, the IBM “uniform” for salesmen (there were no women for a long time) was pin-striped suits, white button-down shirts, rep ties, and wing-tipped shoes. But things changed. Silicon Valley made casual the norm, with Steve Job’s […]
December 5, 2023
By Barbara Weltman
A question that comes up frequently is “what’s a small business?” The SBA defines a small business as one with up to 500 employees (even more for some industries), which is clearly not what most people envision as being “small.” Nonetheless, being a small business has its advantages. But obtaining these benefits depends on whether […]
November 30, 2023
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 their tax advisers. The 2024 edition for preparing 2023 returns as well as tax planning for 2024 has been updated to incorporate green energy changes from the Inflation Reduction Act, retirement plan changes […]
November 28, 2023
By Barbara Weltman
Anyone who has read my blogs knows I love to include quotations where relevant. I find that often someone else has said something better than I could. Writers Write suggests additional reasons for using quotes: they add credibility and can be humorous to lighten a mood. Even more, many quotes display wisdom. Well, now with so […]
November 23, 2023
By Barbara Weltman
“Cultivate the habit of being grateful for every good thing that comes to you, and to give thanks continuously. And because all things have contributed to your advancement, you should include all things in your gratitude.” ~ Ralph Waldo Emerson The annual national holiday of Thanksgiving for many businesses is the official start of the […]
November 21, 2023
By Barbara Weltman
Business owners need to take money out of their companies to pay their personal expenses and reward themselves for their hard work. Deciding how much to take and how to arrange this depends on many factors: the type of entity involved, profitability, cash flow, options for alternatives to taxable compensation, and more. Here is a […]
November 20, 2023
In today’s interconnected world, customer reviews have become fundamental in business evaluation. These are not just opinions or remarks. They are powerful insights into consumers’ experiences with products or services. For small businesses, this impact is more significant because, unlike big corporations, they often rely heavily on word-of-mouth and local reputation. Positive reviews can boost […]
November 16, 2023
By Barbara Weltman
There are several factors contributing to a changing landscape for retirement plans in 2024. SECURE Act 2.0 made a number of changes effective in 2024. The IRS released cost-of-living adjustments to various retirement plan limits. And employees’ financial security concerns, coupled with a labor shortage, have driven more small businesses to consider their retirement plan […]
November 14, 2023
Many small businesses are thriving despite high inflation, labor shortages, and other challenges. Unfortunately, some businesses are struggling. Xero’s Small Business Global Index Update for July-September 2023 found that sales are down from a year ago. Even worse, it’s been reported that nearly 1,500 small businesses filed for bankruptcy in the first 9 months of 2023, which […]
October 9, 2023
How would you react if you opened a marketing email addressed to “Dear shopper?” In this day and age, you’d wonder how healthy the company was to cut such sharp corners. It’s the equivalent of junk mail addressed to “resident.” Wooing today’s consumer requires personalization. Technological advances mean little on their own — it’s how […]
Multimedia
Resources For Your Business
3 Ways Customers Can Be on Your Sales Team
Recession-Proof Your Business by Diversifying — 5 Ways to Do It
Strategies for Handling Little Expenses
What Are Your Sentiments About AI?
Barbara’s Books
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 rulings and laws (including changes from the Inflation Reduction Act and SECURE Act 2.0), allowing you to easily refer to the appropriate deductions and credits for your […]
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
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
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 Hudson Fusion
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 Hudson Fusion
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 Hudson Fusion
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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