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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.

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Idea of the Day®

September 21, 2020

Business Women's Day

Tomorrow, September 22, is an annual event that began on this day in the U.S. in 1983 to honor the contributions and accomplishments of U.S. women in the workforce. BLS reported that even during the height of the pandemic in June 2020 there were over 66 million women (over age 16) in the workforce. BLS also says that the employment ratio of men compared to women (over age 20) in the workplace was 62.7% versus 51.1%. Use #BusinessWomensDay to post on social media.

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Big Ideas For Your Business

Resources For Your Business
  • As the lyrics to Fly Like an Eagle by the Steve Miller Band say: “Time keeps on slippin’, slippin’, slippin’ into the future.” For those working remotely from their homes, it’s all too easy to become distracted or waste time needed for work. I’ve been working from a home office for more than 30 years and have developed some personal techniques for time management. Here are 10 ideas to help you with time management while working remotely: 1. Check your calendar at the start of the day. There may be special meetings or events scheduled. Take a deep breath and begin […]

  • The government mandates that you provide employees with notice about various things. If you don’t, you can be penalized. Some notices can be handled with workplace posters. Others require personal notice to each employee. Here’s a brief overview of what to consider. Workplace posters You already have posters regarding Fair Labor Standards Act (FLSA) minimum wage rules. You may also have to post state minimum wage posters. Be sure to also have other required posters, including: “Employee rights under the Families First Coronavirus Response Act,” which entitles eligible employees of small businesses to certain paid sick and paid family leave. “Job […]

  • Fall is back-to-school time for both children and adults. While schools are figuring out how to open and operate during COVID-19, businesses and employees may be thinking of ways to pay for higher education and continuing education. As a general rule, the cost of this education can be pricey, even for online programs. Fortunately, the tax law provides certain key education-related breaks to help manage the cost. Here’s a summary of the various breaks you might consider—personally or through your business. Employer-paid learning If the business pays part or all of the cost of continuing education or other courses for […]

  • This year has been a very difficult one for small business owners. Some tax rules have made it a little easier to defer some taxes to next year. But that means coming up with cash to pay them. In addition, some other situations may contribute to owing more taxes when filing 2020 returns in 2021. Here’s what to keep in mind so you aren’t caught short of cash when needed. Deferral of payroll and self-employment taxes The CARES Act allows employers to opt to defer the employer share of Social Security taxes that are part of FICA in 2020 (6.2% […]

  • The Sustainability Accounting Standards Board (SASB) is an organization founded in 2018 whose mission is “to help businesses around the world identify, manage and report on the sustainability topics that matter most to their investors.” A growing number of large corporations—GM, Nike, and JetBlue—are including SASB information in their annual reports, even though this isn’t required by the SEC or any other government rule to inform investors of their sustainability practices. It’s unlikely that investors in small businesses, many of whom are family and friends, will require SASB information, but understanding what this information contains may help owners decide on company […]

  • As many small businesses struggle to survive the pandemic, loans have become a lifeline. If you need money and are able to borrow it, be sure to understand what it means from a tax and financial perspective. Here are some key issues to consider. Financial issues When you take a loan, it requires repayment (unless there is forgiveness, which is discussed later). Servicing a loan means repaying the principal—the amount you borrowed—as well as interest. It’s essential that debt servicing is factored into your budget so you have enough cash on hand each month to pay what’s owed. Falling behind […]

  • It’s an understatement that, to quote Bob Dylan, “the times they are a-changin’.” Within the past year or so, there has been the pandemic, Black Lives Matter, the U.S. Supreme Court’s case on discrimination against transgender employees, record unemployment, and more. What all of these changes boil down to is a necessary mandate for you to review your current human resources (HR) policies and make changes where needed. The following are some of the broad areas to consider. Health and safety “Safety isn’t expensive, it’s priceless.” – Author Unknown Having policies to ensure the health and safety of your employees […]

  • Additional Supplement to J.K. Lasser’s Your Income Tax 2020; J.K. Lasser’s Small Business Taxes 2020; and J.K. Lasser’s 1001 Deductions and Tax Breaks 2020 The coronavirus — COVID-19 — has necessitated many changes in tax rules impacting 2019 returns, estimated taxes for 2020, and refunds related to taxes in pre-2019 years. To keep you informed and help you handle your 2019 return, your 2020 estimated taxes if needed, and refund opportunities, here  are some tax changes of note from the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the Families First Coronavirus Response Act as well as from the […]

Multimedia

Resources For Your Business

Preparing for Economic Changes: Getting Help for Getting Through

Can Small Businesses Make a Come Back?

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

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

#TWEETCHAT CALENDAR
TODAY'S TWEETCHATS

September 21, 2020

UPCOMING TWEETCHATS

Events in September–October 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

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