Idea of the Day®
December 02, 2023
Reporting Workplace Injuries and Illnesses
OSHA’s final rule, which is effective on January 1, 2024, requires certain employers with 100 or more employees in certain designated industries to submit reports once a year on workplace injury and illness information electronically on Forms 300 and 301. Employers with 20 to 249 employees in certain industries will continue to submit their data once a year on Form 300A. Other rules apply to employers with 250 or more employees. If your business is subject to reporting, familiarize yourself with the final rule and be prepared to file accordingly. #IdeaoftheDay
Big Ideas for Your Business
Resources For Your Business
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 […]
Read More
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 […]
November 9, 2023
By Barbara Weltman
November 11 is Veterans Day (although it’s celebrated on November 10th because the 11th is a Saturday). According to the U.S. Census Bureau, veterans own 5.6% of businesses in the U.S. and employ 3.6 million workers. This is slightly less than the percentage of the U.S. population that is veterans—6.4%. The following is some material […]
November 7, 2023
The Inflation Reduction Act introduced or expanded various tax rules—deductions and credits—related to green energy. Basic write-offs can be supercharged if employers involved in certain construction activities meet prevailing wage and apprenticeship (PWA) requirements. For example, the basic deduction for an energy-efficient commercial building that achieves a 50% reduction in energy and power costs in […]
November 2, 2023
By Barbara Weltman
Daylight Savings Time (DST) ends on November 5, 2023, at 2 a.m. It will begin on March 10, 2024. Many people are affected by these time changes. Johns Hopkins Bloomberg School of Public Health says that “the changing of the clock means misalignment of our bodies’ natural rhythms.” The Sunshine Protection Act, if enacted, would make […]
October 31, 2023
By Barbara Weltman
The IRS launched a new tool called a Business Tax Account that some business owners can use to give employees in their company access to the business tax account and request a tax check to see if the business is compliant with federal tax requirements. Do you qualify for a business tax account? At present, […]
October 30, 2023
Plans and strategies are in place to achieve every business goal, from recruitment to increasing customer numbers and bottom line. People often use the terms to refer to the same methods, but they mean different things. Here’s what distinguishes a plan from a strategy and when you can use it. Plan vs. Strategy Defined You […]
October 26, 2023
By Barbara Weltman
SCORE defines a family-owned business as “Is one in which any two or more family members operate the company, and the majority of ownership or control lies within the family.” If you are an owner of a business in which other family members—a spouse, sibling, child, or other relative—also have an ownership interest or work […]
October 24, 2023
By Barbara Weltman
The employee retention credit (ERC), a credit created during COVID-19, ended on September 30, 2021 (December 31, 2021, for startups), but it’s still alive. How can that be? The reason: The deadline for submitting refund claims has not expired. Many employers claimed the credit, and a number of these are still pending. But there’s been […]
October 19, 2023
By Barbara Weltman
The definition of a customer is “one that purchases a commodity or service.” A customer is the party that generates revenue for your business. But in addition to the sales they make, there are other ways a customer can help your business…and at little or no cost to you. Here are 3 ways a customer […]
October 17, 2023
By Barbara Weltman
Experts aren’t certain there will be a recession, or whether we’re already in one. But what is certain is the growing number of job layoffs. Forbes reported that layoffs from January through September 2023 are up almost 200%. For example, layoffs have occurred at big tech firms, such as Google, Amazon, Microsoft, Yahoo, Meta, and Zoom. […]
October 12, 2023
By Barbara Weltman
The calendar says flu season is just around the corner. The national health emergency from COVID-19 ended on May 11, 2023, but the illness is still here. And RSV (respiratory syncytial virus) is a concern at this time for certain demographics. How do these illnesses affect your business policies? Now is a good time to […]
October 10, 2023
By Barbara Weltman
Increasingly, you’ll hear about big companies using their profits for social good or to help the environment. Time listed the “best corporations” in 2023; the ranking included sustainability. Among these corporations were Microsoft, Apple, Alphabet (Google), Meta (Facebook), Accenture (in Ireland), Pfizer, and American Express. But you don’t have to be a giant corporation to […]
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 […]
October 5, 2023
By Barbara Weltman
While holiday hiring in the U.S. for this upcoming season is the lowest since 2008, many businesses have already hired or plan to engage seasonal help. What does seasonal hiring mean for your business? What are the rules for setting pay and hours worked? Minimum wage and overtime laws apply to holiday workers. This means […]
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.”
Testimonials
