Blog Images

Your Complete Source for Small Business,
Tax, Legal, & Financial Information

Big Ideas for Small Business® is dedicated to providing small businesses with the tools they need to gain a solid foundation and future financial success. With counsel for almost every facet of entrepreneurial finance, Big Ideas for Small Business® is your source for the right ideas for growing your business.

  • 40 years of legal and small business experience
  • Easy-to-implement principles available in multiple medias
  • High traffic community for spreading your message

Idea of the Day®

July 11, 2020

Anti-Discrimination Training In a Remote Workplace

Just because your employees are working from home does not absolve you from this training. A post from Fredrikson & Bryon PA says to consider inclusive meetings, bystander intervention training, the remote water cooler, and program delivery now.

Reminder: Subscribe to Big Ideas for Small Business® today and receive the Idea of the Day® in your inbox. As a thank-you, you’ll have access to my new eBook, “Big Ideas for Recovering and Reimagining Your Small Business!”

Subscribe Signup

Subscribe to Big Ideas for Small Business® and get the Idea of the Day® delivered to your inbox! As a thank you, you’ll have access to our new eBook: "Big Ideas for Recovering and Reimagining Your Small Business"
SIGN UP NOW! – No Spam! We Promise!

Big Ideas For Your Business

Resources For Your Business
  • Whether your bricks-and-mortar office or store has already reopened or is planning to, be sure to use the technology available to keep everyone—your employees and your customers, clients, and patients—safe. I’m not a health or tech expert and the field for COVID-19-related devices to help businesses is being expanded daily.  Here’s just a sampling of what you might consider to help you operate your business safely at the current time. High-tech tools If there’s a need or a problem, entrepreneurship usually comes up with solutions. The current pandemic has presented unprecedented challenges to businesses to keep everyone safe. Some sophisticated […]

  • The SBA’s Office of Advocacy has profiles of each state’s small businesses. The profits report on the number of small businesses in each state, the number of jobs they create, which industries they dominate, how many have opened and closed, how many export, and the counties with the most small businesses. Be sure to check your state’s small business profile. The following are highlights for 2020 of all small businesses in the U.S. Number of small businesses There are 31.7 million small businesses, accounting for 99.9% of all businesses in the U.S. The number of sole proprietors increased by 3.1% […]

  • This year will forever be remembered for the pandemic and what it’s done to the lives and livelihoods of so many people. From a tax perspective, several actions that would normally occur have dramatically changed for 2020. Some actions have been delayed, others have been suspended, and still others (like filing and estimated tax deadlines) have been postponed. The usual rules don’t apply in a number of situations. How do these disruptions for 2020 impact you? Employment tax deferral Normally, employers are required not only to withhold and deposit the employee share of Social Security and Medicare taxes (FICA), but […]

  • June 30th marks the mid-point of the calendar year and typically is a time to reflect on business thus far and what can be expected for the remainder of this year. But 2020 isn’t typical. For many businesses, the second quarter of 2020 has been dismal due to COVID-related stay-at-home and closure orders. But, as the saying goes, what’s done is done. So take a realistic look at your numbers for Q2. This will help you to make plans for the remaining two quarters of the year. 1. Your health. Many business owners have for months been working from home, […]

  • The benefits of diversity in staffing have long been recognized, from improved productivity and creativity to increased profits. With that said, there continues to be discrimination—overt or subtle—in some companies. Clearly, it makes good business sense to embrace diversity, but at a minimum, understand what the law demands to avoid any legal problems from discrimination. Federal nondiscrimination laws Title VII of the Civil Rights Act of 1964 bars discrimination in hiring, firing, promoting, or other work-related decisions based on race, color, religion, sex and national origin. In the more than 50 years since enactment, this law has undergone considerable interpretation […]

  • Thousands of small businesses have been seriously impacted by the pandemic. It’s been reported that more than 100,000 small businesses closed permanently in New York. Nationwide statistics aren’t available, but anecdotal evidence shows that despite Congressional action so far—with the Paycheck Protection Program (PPP) and other measures—it just hasn’t been enough to sustain many small companies. On top of the pandemic, a great number of small Main Street businesses have been damaged or destroyed by recent rioting. Small business is in trouble. What can help? Additional Congressional action in the works At the beginning of June, Congress made favorable changes […]

  • It’s a good business practice to set a budget before the start of the year and then regularly review it. Doing this allows you to adapt your business to changes in revenue and expenses. Of course, with the advent of COVID-19, these changes have been dramatic for many businesses, requiring drastic revisions in the budget. Here are some changes to consider now: Revenue adjustments Depending on the nature of your business, as you re-open you may have reduced revenue because of restrictions on the number of customers you’re permitted to accommodate at any one time. Retail stores and restaurants, for […]

  • Most insurance policies run annually, and many business owners automatically renew their coverage without reviewing what is and is not covered. Now is a good time to discuss your current policies with your insurance agent and make changes where needed. Basic BOP coverage Small business owners typically carry a comprehensive insurance policy, called a business owners policy (BOP) providing liability coverage for injuries on the premises to third parties (e.g., a customer slips and falls) and property coverage for damage or destruction (e.g., loss of property due to a fire). These policies are designed for office buildings not over 6 […]

  • Each year the IRS releases statistics on various types of business entities, and most recently it released the latest statistics on sole proprietorships. These stats are derived from Schedule C of Form 1040 for 2017 returns in contrast to the number of such filers and their revenue with 2016 returns. The data also reflect entries on Schedule C-EZ, which is a type of return for sole proprietors that is no longer in use. Sole proprietorships include: Sole proprietorships include independent contractors, freelancers, other gig economy workers, or other self-employed individuals who are not required to file any other type of […]

  • On June 3, the Senate by unanimous consent approved the Paycheck Protection Flexibility Act of 2020 that the House passed on May 28, 2020, with a vote of 417 to 1. The changes generally are very favorable to small businesses getting loans under the Paycheck Protection Program (PPP). The following is a summary of the key changes and a brief discussion of questions that haven’t been resolved by the new law. We must await further clarification from the SBA and the IRS on some matters. What’s forgivable? The key feature of the PPP is the ability of a borrower to […]

Multimedia

Resources For Your Business

Can Small Businesses Make a Come Back?

Practical Ideas for Changing Business Operations in a Post-COVID-19 World

Setting Up a Home Office

Successful Tax Planning Strategies for Your Small Business - Interview by Jim Fitzpatrick

#TWEETCHAT CALENDAR
TODAY'S TWEETCHATS

July 11, 2020

UPCOMING TWEETCHATS

Events in July–August 2020

barbara’s books

  • Maximize your bottom line with the nation's most trusted small business tax guide

    J.K. Lasser's Small Business Taxes 2020 is the small business owner's ultimate guide to a money-saving, stress-free tax season. Providing straightforward advice from the nation's most trusted tax expert on small business taxes, this book gives you the answers you need quickly, with clear, concise guidance. Updated to cover changes from the Tax Cuts and Jobs Act and other legislation, this edition also includes an e-supplement covering additional developments from Congress and the IRS to keep you fully up-to-date.
  • 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!
  • A complete list of individual tax relief opportunities

    J.K. Lasser's 1001 Deductions and Tax Breaks 2020 is the complete and thorough guide to reducing your tax burden. By listing every possible deduction and credit available to individual taxpayers, this book can help you achieve substantial savings on your 2019 tax return. Updated and expanded to cover new and changing tax law, this edition also includes an e-supplement covering the latest developments from Congress and the IRS to keep you fully up-to-date. Stop overpaying and gain peace of mind as you find the answers you need for your specific tax situation. Mine your paperwork for write-off opportunities, and claim your tax breaks correctly; easy-to-follow instructions give you clear guidance through the maze of worksheets to help you reclaim what is legally yours.
  • 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."

testimonials

  • " 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

  • " I Love Your Ideas of the Day!
    I love your ideas of the day! They have become an instrumental part of my learning! ”

    - Gina Bertoletti

  • " You should sign up for the Idea of the Day®
    You should sign up for the "Idea of the Day®" by Barbara Weltman. This will give you great tips and help you with your daily business needs. She writes every article with consummate skill. ”

    -Lesley

  • " Your blogs contain information that everyone can use!
    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. ”

    -Lisa Rubenfeld

  • " Best information for a small business owner!
    For a small business owner, the information [in your book] is absolutely one of the best I’ve come across! Thanks so much for the break-down of information. ”

    -Michelle Joe

  • " I don't want to miss it!
    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! ”

    -Lynnette Khalfani-Cox, The Money Coach

  • " Getting your daily email is like getting an MBA in small business!
    Thank you for finding this important information. Getting your daily email is like getting an MBA in small business. ”

    -J. S. Budnik

  • " Thank You, Barbara!
    "Thank you, Barbara Weltman, for all of your articles and tax advice to small business owners! All the best." ”

    -Shane Madigan

  • " Thanks for providing such useful information!
    I follow your blog religiously for the great tips you provide. I love the new look. It makes me smile to see that your blog got an update.  Thanks for providing such useful information. ”

    -Lee Drozak

  • " Barbara Weltman is an Advocate for Small Business
    She has been an advocate, public speaker, and resource for small business news since the release of her first book, J.K. Lasser’s Tax Deductions for Small Business, in 1995. Since then she has run her website, her Big Ideas for Small Business® newsletter, and her blog, not to mention written over a dozen books. Ms. Weltman is on this list twice because for many business owners, it is easier to scroll through her Twitter feed for trending topics and news events than search her website. However, if you don’t take a minute to read her newsletters or blog — you’re missing out. ”

    -Meredith Wood, Fundera Ledger

Open
Close

Big Ideas for Small Business®
Find it for free on the App Store.
Get