Idea of the Day®
December 11, 2024
Majority of Small Businesses See Profits Boosted from AI
That’s the finding of a survey by Business Heroes, which found that 55% of small businesses had an increase in profitability after implementing AI tools. Other survey findings: 53% said they saw a positive impact on customer experience; 61% reported an increase in productivity; 65% adopted AI tools within the past year. #IdeaoftheDay
Big Ideas for Your Business
Resources For Your Business
December 10, 2024
By Barbara Weltman
On November 25, 2024, Walmart announced it was rolling back its DEI (diversity, equity, and inclusion) policies. This follows similar moves—abandoning or revising DEI policies—by Ford, Harley-Davidson, Lowe’s, John Deere, Toyota, and others. Some of these companies have also ended their participation in the Human Rights Campaign Corporate Equity Index, which reports on policies related […]
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December 5, 2024
By Barbara Weltman
Retirement plans are an important way to help employees build financial security. There is great flexibility for employers in choosing the plan best suited to their company’s situation (e.g., number of employees, financial position of the business, corporate culture). Yet, Bureau of Labor Statistics (BLS) reported earlier this year that only 57% of companies with fewer […]
December 3, 2024
By Barbara Weltman
A September 2024 report by the U.S. Chamber of Commerce entitled The Impact of Technology on U.S. Small Business found some very interesting things: 99% of small businesses use at least one technology platform. 40% of small businesses said they use generative AI—up from 23% in 2023. 91% of businesses actively using AI expect it will help […]
November 28, 2024
By Barbara Weltman
“I am grateful for what I am and have. My thanksgiving is perpetual.” ~ Henry David Thoreau The annual national holiday of Thanksgiving for many businesses is the official start of the holiday shopping season. For some businesses, this period represents their peak sales for the year. But there are many reasons why I’m grateful […]
November 26, 2024
By Barbara Weltman
“Yesterday is gone, tomorrow has not yet come. We have only today, let us begin.” ~ Mother Teresa Many of the tax rules that were put in place through prior legislation are now being questioned (yesterday). The new Administration and new Congress have big plans for the future (tomorrow). But businesses have to operate under […]
November 22, 2024
Like most consumers, you probably don’t mind spending a little more when you know something is of the highest quality. You want to ensure the product you spend money on is top caliber and adheres to standards assuring this. If you manufacture products, your business should produce the same expectations as big brands, as the […]
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 […]
November 14, 2024
By Barbara Weltman
The tax picture for 2026 is unknown at this time because many of the tax rules fixed by the Tax Cuts and Jobs Act expire at the end of 2025. But the rules for 2025 are largely in place, although Congress could tweak some of them. One of the factors that helps to settle tax […]
November 12, 2024
By Barbara Weltman
There has been much talk about the need for tax changes. Many tax rules put in place by the Tax Cuts and Jobs Act of 2017 (TCJA) are set to expire at the end of 2025. And other tax changes that were part of the Tax Relief for American Families and Workers Act of 2024 […]
November 8, 2024
By Laura Campbell
Traditional versus digital shopping is no longer much of a debate compared to a decade ago. However, online businesses must contend with a vast sea of competitors and other distractions brought on by the development of technology and the internet. As such, e-commerce is all about personalization, which means designing and producing the online experience […]
November 7, 2024
By Barbara Weltman
WHEREAS it is fitting that the recurring anniversary of this date [November 11] should be commemorated with thanksgiving and prayer and exercises designed to perpetuate peace through good will and mutual understanding between nations. Congress, 1926 November 11 is Veterans Day; it’s a federal holiday. It’s also a day on which we can recognize that Veterans […]
November 5, 2024
By Barbara Weltman
As 2025 approaches, businesses are working on their budgets, and one important aspect is how much should owners be paid? The decision has important consequences for deductibility, payroll taxes, cash flow, benefits, and more. This is a topic I’ve explored in prior blogs (some points of which are repeated here), but it bears further examination. […]
October 31, 2024
By Barbara Weltman
Halloween has become a national obsession, with all things spooky, creepy, and ominous, as well as all things pumpkin. And for many small businesses, it’s good for their bottom line, with Halloween spending in the U.S. is expected to reach $11.6 billion this year. Nonetheless, when thinking scary thoughts about this holiday, you might consider […]
October 29, 2024
By Barbara Weltman
Earlier this year, FasterCapital explored the rise in seniorpreneurs—those age 65 and older who are business owners. The often-cited example of a successful seniorpreneur is Colonel Sanders, who started KFC at age 71, but this is just one example of success found at an age when most people retire. Today, an estimated 8 million boomers (those […]
October 24, 2024
According to the U.S. Bureau of Labor Statistics, 86% of private-sector companies with 100 or more workers and 91% of firms with 500 or more workers offered a retirement benefit plan in 2023. For small businesses—those with fewer than 100 employees, that percentage dropped to 57%. Still, there’s a desire on the part of small […]
October 23, 2024
By Ashwin Ramesh
In a world where almost everyone is wired and connected through the internet, there’s no doubt why having an online presence matters, especially for startups and small businesses. While the internet can be overwhelming for startups, it can also be the very place that ultimately helps them succeed. With the help of targeted tools, platforms, […]
October 22, 2024
By Barbara Weltman
Whether you’re an employee of your corporation or a self-employed individual, it’s likely that your tax bill for Social Security and Medicare taxes will be higher in 2025. That’s because the wage base used to fix the ceiling on the Social Security portion of FICA and self-employment tax is rising. The Social Security Administration announced a […]
October 18, 2024
Streamlining operations is one of the most effective ways to drive business growth. When processes are efficient and systems run smoothly, businesses can focus on innovation and long-term strategy. Effective streamlining reduces waste, enhances customer experiences, and gives businesses a competitive edge. Below are 6 ways streamlined operations can take your business to the next […]
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Resources For Your Business
Growing Your Business by Bringing In Investors
Growing Your Business by Growing Your Skills
Growing Your Business — Adding New Physical Locations
Good Reasons to Add Professionals to Grow Your Business
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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