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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®

December 09, 2018

Tech Startup Cities

Cities in the U.S., like the Bay Area, NYC, and LA, are losing ground to cities more affordable in the U.S. (like Pittsburgh, Detroit, Cincinnati, and Nashville) as well as cities around the world, according to an article in Citylab. The article examined data in Pitchbook, a source of information for venture-capital investment. According to PitchBook: “While the United States remains the clear global leader, the rest of the world is gaining ground at an accelerated rate.”

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Big Ideas For Your Business

Resources For Your Business
  • Preparing for a Recession

    Why would you consider thinking about a recession when we’re in the middle of a boom economy? Because every boom is followed at some time by a bust. No one knows when such a bust will occur, how severe it will be, and how long it will last. But it can’t hurt to spend time now making sure you can withstand an economic downturn. Watch your expenditures The Federal Reserve (“the Fed”) said in late November 2018: “High leverage has historically been linked to elevated financial distress and retrenchment by businesses in economic downturns.” In plain English, the current level […]

  • There are dozens of numbers used for benefits, limitations, thresholds, and other rules for various tax breaks that can be adjusted annually for inflation. The limitations for retirement plans and IRAs for 2019 were covered in a previous blog. Now the IRS announced the new numbers for 2019.   Here is a roundup of the new numbers important to small businesses and entrepreneurs in the year to come (they’re listed in the order in which they appear in the Tax Code and not in order of importance). Small employer health insurance credit. The average payroll limit to be able to take a […]

  • I’m proud to say it’s the 25th year of the original publication, and it’s all new for 2018 returns and year-round tax planning. The new edition, named the #1 New Release by Amazon, includes changes made by the Tax Cuts and Jobs Act as well as other developments small business owners need to know. As has been my practice, I’ve written my own book review to explain the purpose of the book, what’s new, and what’s ahead. Why small business owners need a tax book If you are like the vast majority of small business owners (86%), your accountants or […]

  • According to PWC’s 2018 Employee Financial Wellness Survey, 54% of employees feel stressed about their finances. What does this mean in your workplace? Impact of stressed employees Financial stress isn’t merely the problem of employees; it impacts employers as well. A report 2 years ago estimated the cost to companies for employees with the lowest levels of financial wellness at $94 to $198 each annually. The financial issues for the company can be: Absenteeism Low productivity Garnishments Delayed retirement Helping employees to improve their financial wellness can help address each of these issues. And it can create more employee loyalty, […]

  • Want to create a multi-million dollar nest egg … in addition to the value of your business? This is possible by making sure you’re covered by a qualified retirement plan and maximizing contributions to it on your behalf. In addition, you’ll help employees save for their retirement. As you begin to plan for the coming year, take into account changes in the dollar limits for certain retirement plans as well as for certain employee benefits. 401(k) plans If you offer, or expect to offer, this type of retirement plan in 2019, the maximum salary reduction contribution by an employee is […]

  • Raising Your Prices

    A McKinsey & Co. study found that raising prices 1% with no change in demand could mean an increase in profits of 11%. Inflation for 2018 is running at about 2.3%, so this generally means you can expect to pay more for the goods and services your business uses. With a tight labor market, you’re likely to increase wages for the coming year at an even greater rate. These conditions mean one thing: it’s probably time to raise your prices. Concerns about raising prices Naturally, you fear that raising prices will reduce demand. You need to determine the impact of […]

  • The Tax Cuts and Jobs Act created a new personal deduction, called the qualified business income (QBI) deduction, for owners of pass-through entities that is effective starting on 2018 returns. The deduction cuts the effective tax rate on your business income.  Sole proprietors, S corporation shareholders, partners, LLC members, and self-employed independent contractors should familiarize themselves with the rules for the QBI deduction.  Here are 10 things to know about it. 1. The new deduction is based on only certain pass-through income The QBI deduction, also referred to as the Section 199A deduction (based on the Tax Code provision covering it) is […]

Multimedia

Resources For Your Business

Challenges and Rewards of Having an Intergenerational Staff

Why Employees' Opinions Matter and How to Get Feedback

#TWEETCHAT CALENDAR
TODAY'S TWEETCHATS

December 09, 2018

UPCOMING TWEETCHATS

December 2018–January 2019

barbara’s books

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

    J.K. Lasser's Small Business Taxes 2019 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 complete list of individual tax relief opportunities

    J.K. Lasser's 1001 Deductions and Tax Breaks 2019 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 2018 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.
  • Tax facts and strategies every self-employed person needs to know As a self-employed person you have to handle many, if not all, of the aspects of running your business. J.K. Lasser's Guide to Self-Employment is intended to help you with some business aspects with which you may not be familiar—but which have a great impact on your bottom line. It skillfully focuses on taxes as well as many legal and financial matters that may pertain to your business.
  • 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

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    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. ”

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

    -Shane Madigan

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    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. ”

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  • " 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

  • " Great segment!!!
    Barbara Weltman is one smart cookie - I follow her on Twitter, and her content is always interesting and informative. ”

    -An eBay Radio listener - purplejaime1976

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