Idea of the Day®
September 07, 2024
Matching Student Loan Contributions to Retirement Plans
Employers with a 401(k) plan or SIMPLE IRA plan can provide matching contributions based on student loan payments, rather than based only on elective contributions in plan years beginning after December 31, 2023. The IRS released guidance on these employer matching contributions in Q&A form. They explain what constitutes a qualified education loan payment (QSLP) for purposes of matching contributions; the employee must certify this amount. The plan does not have to offer this matching QSLP option; if it wants to, then the plan must state that it does. The plan can make QSLP matches at a different frequency than matching contributions, provided that the frequency is not less than annually. The QSLP is limited by the salary reduction amount, but is not treated as a salary reduction (i.e., employees are taxable on their funds used to make loan repayments as compared with tax-free treatment of salary reduction contributions to basic 401(k)s). #IdeaoftheDay
Big Ideas for Your Business
Resources For Your Business
September 5, 2024
By Barbara Weltman
The end of summer is the traditional start of the school year. Back-to-school time may impact your business. It’s also a time to remind small business owners about the benefits of continuing to grow their skills. This doesn’t necessarily mean enrolling in an education program. There are many ways to continue your education. Here are […]
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September 3, 2024
By Barbara Weltman
To most business owners, the term “ERISA” may not be known, although it’s ABC to tax and benefits pros. ERISA has likely had an impact on you and your business. On September 2, 1974, the Employee Retirement Income Security Act (ERISA) was signed into law. It was enacted to provide protections for participants in privately-sponsored […]
August 29, 2024
By Barbara Weltman
You don’t have to be a legal scholar to be impressed with the breath of business-related decisions issued by the U.S. Supreme Court in its 2023-2024 term that ended on June 30, 2024. Some of these decisions may affect your business in direct or indirect ways. The following is a brief discussion of selected cases […]
August 27, 2024
By Barbara Weltman
“Wake up! Wake up! C’mon, first day of school.” ~ Nemo in Finding Nemo Late August and early September is the time for many children and adults to return to the classroom. Whether or not you have a child back in school now or you are beginning an educational program, if you are a small […]
August 26, 2024
By Monica Mendoza
Trade shows provide an excellent opportunity to make your business’s presence known in your respective industry. These events give you the perfect platform to promote your products or services to potential new customers and partners, as well as network with like-minded people and meet industry leaders. To make the most of your trade show experience, […]
August 23, 2024
By Slobodan Kacavenda
Grand openings, trade shows, seminars and webinars, retreats, holiday parties…just some of the business events you may want or need to manage. Organizing a business event can seem overwhelming, can’t it? However, there’s good news. If the essentials of business event planning are mastered, anyone can transform this daunting process into a seamless, enjoyable experience. […]
August 22, 2024
By Barbara Weltman
The pass-through entity tax (PTET) is a way for owners of pass-through entities—partnerships, limited liability companies, S corporations—to gain benefit from the state and local taxes paid without having to itemize and then apply the state and local tax (SALT) cap. All of this may sound confusing. Let me sort things out. A little history […]
August 21, 2024
By Jack Shaw
Balancing the demands of running a brand can often leave planning for retirement on the back burner for small business owners. Unlike employees with traditional employer-sponsored plans, you’re responsible for creating your own nest egg. This means minimizing reliance on your company to support you in your golden years and diversifying your income. Settle Your […]
August 20, 2024
By Barbara Weltman
“Success is to be measured not so much by the position that one has reached in life as by the obstacles which he has overcome while trying to succeed.” – Booker T. Washington Since 2004, August has been the time to celebrate National Black Business Month. It’s meant as a time to recognize the achievements […]
August 15, 2024
By Barbara Weltman
Continuing our series on growing your business…one way to do it is to add new locations. Many large corporations have found this a profitable action. Walmart has over 4,600 locations in the U.S. But adding locations isn’t limited to big businesses; small ones can grow by adding locations. These may be within the same general […]
August 14, 2024
By Aaron Franks
Sustainability is more than a buzzword; it is an integral approach toward any business’s longevity and ethical standing. It’s axiomatic that reducing operating and utility bills increase profits. But for small businesses, embracing sustainable behavior can be an overwhelming challenge. This blog discusses how small businesses can sustainably achieve environmental, social, and economic benefits. Understanding […]
August 13, 2024
By Barbara Weltman
It’s probably no great revelation to learn that taxes are complicated. As a consequence, most small business owners rely on tax professionals, at least for preparing income tax returns. I’ve been working with federal taxes for many years, and it never surprises me that there are surprises. Here are some tax rules that aren’t obvious, […]
August 12, 2024
Considering the rapidly dynamic nature of the current market, business longevity is critical for entrepreneurs and established business owners. Ensuring your business survives and thrives over the long term requires careful planning and strategic action. This article delves into the essential steps to secure your business’s future. Luck doesn’t guarantee long-term success; it results from […]
August 8, 2024
By Barbara Weltman
Hallmark channel just completed its annual Christmas in July, so can the holiday shopping season be very far off? It’s summertime now, but only a short time until the shopping season begins in earnest. Start now to prepare for the upcoming shopping season so you can be prepared with inventory, staffing, marketing, and more. Here […]
August 7, 2024
By Annie Button
Small business owners can find success in B2B lead generation using an array of marketing channels. When starting out, competing with established global brands with huge audience bases is ambitious at best, particularly in the terrain of local search engine optimization (SEO). However, by adopting a local SEO strategy that helps your small business stand […]
August 6, 2024
By Barbara Weltman
What happens to your business when you retire—voluntarily or because of a disability—or die? Have you made any decisions about whether to sell your interest, pass it on to children, transfer it to a co-owner if you have one, or make other arrangements? According to one source, two-thirds of small business owners plan to retire […]
August 1, 2024
By Barbara Weltman
On July 19, 2024, a technological catastrophe—a global IT meltdown—occurred. This event has been called the biggest IT failure in history. Millions of computers using Microsoft operating systems that relied on CrowdStrike for cybersecurity crashed, which caused hundreds of flights around the world to be canceled or delay, hospitals had to reschedule operations, broadcasts could […]
July 30, 2024
By Barbara Weltman
In May 2024, I posted a blog on several recently issued federal regulations that could affect your business. Since posting the blog, there have been important developments, including a U.S. Supreme Court decision on agencies’ ability to issue regulations and various court actions directly aimed at the new regulations. Here’s where things stand. DoL’s independent contractor […]
July 25, 2024
By Barbara Weltman
Small business owners want a safe and supportive work environment for their staff. One disrupter is domestic abuse, the effects of which do not stop as employees enter the workplace. According to one source, more than 10% of employees said they experienced domestic violence in the past year. A Cornell Law School article said “suffering through […]
July 24, 2024
By Aaron Franks
The landscape of small businesses is changing fast. From new technologies to evolving consumer behaviors, the dynamics are undergoing a radical transformation. If you own a small business or are planning to start one, it’s crucial to keep up with these trends. This will not only keep you ahead of the competition, but also prepare […]
July 23, 2024
By Barbara Weltman
The IRS has a slew of penalties that may be imposed for doing something wrong, doing something late, or failing to do what you should have done: failure-to-file, failure-to pay, failure-to-deposit. Obviously, the best course of action is to avoid penalties by knowing the rules and acting correctly and on time. But this isn’t always […]
July 18, 2024
By Barbara Weltman
Small businesses don’t have in-house departments for payroll, legal, accounting, IT, marketing, etc. Many small business owners try to DIY for all of these specialties. It’s understandable; professionals cost money. But this can be short-sighted. Why and how you can grow your business by developing a team of professionals: Why use professionals? There are a […]
July 17, 2024
Financial forecasting is a vital skill for small business owners. It helps predict your future expenses, ensuring you have steady armor to face corporate and industry challenges. Discover the common financial mistakes and strategies to ensure success. What Are the Common Challenges in Predicting Future Expenses? These are typical mistakes small business owners grapple with […]
July 15, 2024
By Barbara Weltman
Childcare benefits can have a positive impact on recruitment, retention, and productivity—all key concerns for employers. According to a survey by Care.com, 56% of employers in 2024 are prioritizing child care benefits to recruit and train staff, which is 10% more than in 2023. Where do you stand? Can small businesses afford to help employees […]
Multimedia
Resources For Your Business
Good Reasons to Add Professionals to Grow Your Business
Are You Lucky? This Matters to Business Success
Staying Positive: Why it’s Essential and How to Do It
Inspired Podcasts Interview
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 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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