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Idea of the Day®

May 12, 2021

DOL Worker Classification Test Unclear

The DOL withdrew the final rule on independent contractor status under the Fair Labor Standards Act that had become final on January 6, 2021, and was set to take effect on March 8, 2021. That rule used an “economic reality” test to determine worker classification; a worker economically dependent for work would be treated as an employee. At this time, it is unclear what test to use. The DOL likely will propose a new rule, but what and when is unclear.  #IdeaoftheDay

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Big Ideas For Your Business

Resources For Your Business
  • The federal government has told us that the more…and more quickly…people get COVID-19 vaccines, the faster the pandemic will disappear because of herd immunity. There are already favorable signs that the spread is slowing down. But employers may be wondering what they can or should do about their company policy and vaccines. There aren’t a lot of solid answers, but many good ideas to consider. Here are some questions that may be on your mind, with answers to help you decide on your course of action. Q: Can employers mandate that employees get vaccinated? A: Technically, it may be possible […]

  • The term “superwoman” was coined by author Marjorie Hansen Shaevitz in The Superwoman Syndrome to denote a woman who copes successfully with the demands of career, marriage, and motherhood. Mother’s Day is a time to reflect on what this term means for moms who run businesses or hold paying jobs. Pre-pandemic, this topic was explored in a blog several years ago. But times have changed. With COVID-19, many moms have stretched their super powers to the limit in working from home, helping children with virtual learning, and handling all the other challenges of the pandemic. Where do working moms stand […]

  • May is Mental Health Awareness Month and employers should take this reminder to examine their policies on what they can to do help employees who have mental health issues. Here are some ideas to help you help employees in this regard. Be aware of the facts According to the National Alliance on Mental Illness: 1 in 5 U.S. adults experience mental illness each year, but less than half get treatment. 8% of U.S. adults experienced both mental illness and a substance use disorder in 2019. 41% of Veteran’s Health Administration patients have been diagnosed with mental illness or substance use disorder. […]

  • With employees getting back to the office and other locations, company policies regarding business driving as well as employee commuting deserves another look. This is especially true in light of new technologies and  other changes in employee behaviors. This blog is adopted from an earlier post. Basic rules Whether the vehicle is owned or leased by the company or belongs to the employee driving on company business, the company may be financially liable for accidents. This why it’s essential to have a solid vehicle and driving policy. Your policy should include common sense advice to employees as well as actions […]

  • You gotta eat, right? But when it comes to meals, what’s business and what’s personal? If it’s personal, nothing is deductible, but if it’s a business meal, how much is deductible? The federal income tax rules are very confusing and were made more so by a temporary change under the American Rescue Plan Act. Here are 10 things to help you navigate the complexity of tax rules. 1. Eating alone is a business deduction only in certain circumstances. When you pick up coffee and a bagel on the way to the office or take a lunch break at the neighborhood […]

  • Long before climate change entered the vernacular, environmentalism was alive and well. Earth Day started more than 50 years ago to raise awareness of environmental dangers; the annual celebration continues today. (Those of you old enough will remember the PSA featuring the crying Native American.) The theme for Earth Day this year is “Restore Our Earth™”. Brief history of Earth Day Earth Day started on April 22, 1970. From EarthDay.org: “Senator Gaylord Nelson, a junior senator from Wisconsin, had long been concerned about the deteriorating environment in the United States.  Then in January 1969, he and many others witnessed the […]

  • “It was one of those March days when the sun shines hot and the wind blows cold: when it is summer in the light, and winter in the shade,” said Charles Dickens. It’s the start of Spring and a time that’s ideal for cleaning things in your business. It’s a subject I write on just about every year because I’m usually in the thick of my own Spring cleaning. Compelling reasons for Spring cleaning You may think that this activity is just another tedious chore. But if you keep in mind the benefits to be derived, you’ll be highly motivated to […]

  • Are Taxes a Joke?

    Are taxes a joke? Certainly not when you have to complete a tax return and pay the taxes. But over the years, there have been many humorous quotations regarding taxes. On April 15, typically “Tax Day” (although the due date for filing individual income tax returns for 2020 has been postponed to May 17, 2021), here are 25 quotations, in no particular order, to amuse you: The hardest thing in the world is to understand the income tax. Albert Einstein Today, it takes more brains and effort to make out the income-tax form than it does to make the income. […]

  • As part of the CARES Act last year, Congress created a new tax credit to incentivize employers to keep workers on the payroll during the pandemic. The employee retention credit is an offset to certain payroll taxes; it is not an income tax credit (although there is a similar income tax credit explained later). The credit, which began on March 12, 2020, was originally set to expire at the end of 2020. The Consolidated Appropriations Act, 2021, extended it through the first half of 2021 and then the American Rescue Plan extended it through the end of 2021. Because of […]

  • The first installment of estimated taxes for 2021 is due April 15, 2021. This deadline applies even though the due date for filing 2020 individual income tax returns has been extended. A previous blog addressed some aspects of estimated taxes—when to pay them and what they need to cover. The following are some special issues to consider for estimated taxes in 2021. Who needs to pay If you don’t get a paycheck from which to withhold your federal income taxes (or a spouse with a paycheck and who is willing to increase withholding to cover your share of taxes), you […]

Multimedia

Resources For Your Business

High-Purpose Cultures for Small Businesses

5 Simple Tips for Staying Connected with Coworkers and Associates

Preparing for Economic Changes: What's Trending and Why It Matters to Your Business

10 Time Management Ideas for Remote Working

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May 13, 2021

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Events in May–June 2021

barbara’s books

  • Small Business Taxes 2021 helps small business owners maximize their bottom line with straightforward, yet comprehensive guidance from the most trusted name in tax.
    Featuring a complete listing of all available business expense deductions, including dollar limits and record-keeping requirements, this book helps you quickly determine what kind of tax relief is available to you, and how to take it--all the way down to where to claim deductions on the forms themselves. Tax facts, strategies, and the latest up-to-date information -- including coverage of the SECURE Act and the CARES Act -- help ensure that you don't miss out on money-saving opportunities, and sample forms and checklists help you get organized and submit a complete and proper filing.
  • The complete guide to all deductions and credits for individual taxpayers J.K. Lasser's 1001 Deductions and Tax Breaks shows you just how much money you can save on your taxes--legally--simply by taking advantage of what's out there.
    Millions of Americans overpay their taxes by billions of dollars every year, because constantly evolving laws and regulations make keeping track of deductions and breaks next to impossible for the everyday taxpayer. This book helps you put a stop to overpayment so you can keep more of your hard-earned money. With a complete list of every possible deduction and credit available to American taxpayers, and clear, easy-to-follow instructions for claiming what is rightfully yours, it is fully-updated to reflect the latest rulings and laws--including the SECURE Act and the CARES Act. Also, an e-supplement with the latest tax developments from the IRS and Congress is provided so that this book answers all of your "Can I claim..." questions with guidance from the nation's most trusted tax advisors.
  • 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 seasoned entrepreneur or just starting out, you’ll find actionable ideas to help you with your finances, your operations, your staff, your marketing, your taxes, your technology, your environment, and your personal growth.
  • 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 by industry expert Barbara Weltman, our Start-Up Guide is broken up into easily digestible chapters that cover the key areas of a new business launch. We outline 10 fundamental steps to succeed in running a home business. These include selecting a business; determining business fit; establishing your business organization; business protections; marketing and selling; setting up a productive home office; managing your business; achieving success; business growth and more. Jim Blasingame, Host of The Small Business Advocate Show, and author of the award-winning books, “The 3rd Ingredient,” and “The Age of the Customer” says:  "At a time when working from home is becoming the norm, why wouldn’t right now be a perfect time to start a home-based business? If you’re still with me, here’s the next logical question: Why wouldn’t you want to learn how to do that from someone who was home-based before it was cool? Someone who was making being home-based look good before technology made it easy. Well, that person is my friend, Barbara Weltman, and she’s put all of her experience, wisdom and perspective in a new book, “Home-Based Business Start-up Guide.” It’s a by-the-numbers tutorial on how to launch a successful home-based business. Let Barbara help you get your home-based business going with her book, and all of the other awesome resources she produces in support of small businesses. She’s the best."
  • 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, you’d like to become a delivery driver driver but uncertain how to begin. This guide, "The Delivery Driver Tax and Business Guide" is your answer!
  • 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 of their responsibilities when it comes to paying their taxes. Even if you have an accountant or use tax preparation software, you may not be aware of all the deductions and credits you are entitled to. That’s where the experts at J.K. Lasser come in. The second edition of J.K. Lasser's Guide to Self-Employment helps you file your taxes correctly, accurately, and on time. Using clear, jargon-free language, this bestselling guide explains the legal and financial implications of self-employment and shows you how to keep as much of your hard-earned money as legally possible. A reader says: "This book, Guide to Self Employment, is an excellent tax resource for all freelancers & self employed people, including small business owners. Barbara Weltman is a knowledgeable tax attorney & small business specialist."
  • The Uber/Lyft Driver Tax & Business Guide, Kindle Edition

    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 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, and you’re a business owner driving for Uber, Lyft, or other platform. Or, you’d like to become an Uber or Lyft driver but uncertain how to begin. This guide, "The Uber/Lyft Driver Tax & Business Guide," is your answer!  
  • 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 — Barbara 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.
  • Small Business Survival Book

    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 part of what you need to succeed!
  • 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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  • " Home-Based Business Start-Up Guide
    Jim Blasingame, Host of The Small Business Advocate Show, and author of the award-winning books, “The 3rd Ingredient,” and “The Age of the Customer” says:  "At a time when working from home is becoming the norm, why wouldn’t right now be a perfect time to start a home-based business? If you’re still with me, here’s the next logical question: Why wouldn’t you want to learn how to do that from someone who was home-based before it was cool? Someone who was making being home-based look good before technology made it easy. Well, that person is my friend, Barbara Weltman, and she’s put all of her experience, wisdom and perspective in a new book, “Home-Based Business Start-up Guide.” It’s a by-the-numbers tutorial on how to launch a successful home-based business. Let Barbara help you get your home-based business going with her book, and all of the other awesome resources she produces in support of small businesses. She’s the best." ”

    -Jim Blasingame, Host of The Small Business Advocate Show

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    As a tax attorney and small business specialist, Barbara has a lot of great information to share. Barbara, your blogs contain information that everyone can use!  Your newly-expanded ebook, "175+ Big Ideas for Small Business" ebook has lots of great recommendations for small business owners. ”

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    I just wanted to reach out and give you a very big, truly heartfelt "thank you" for all the work that you do to help small business owners grow and succeed. More specifically, I wanted to offer you some praise for your blog posts and Idea of the Day®. My email inbox gets so very cluttered. And honestly, on most days I will do a wholesale delete of many, many messages. But I literally stop and specifically look for your name and your small business Idea of the Day®. I don't want to miss it! In fact, I look forward to reading it daily (even on weekends!) because I know I'm going to learn something new that saves me money, time or just adds to my professional knowledge in a way that helps me help others too. So thank you, thank you, thank you for your efforts! ”

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