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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®

February 25, 2021

COVID Vaccines Digital Resource Center for Businesses

The U.S. Chamber of Commerce has a hub providing links to resources regarding the vaccines and your business. You can find general guidance, state-specific information, help with developing a vaccine strategy, worksite clinic resources, and more. #IdeaoftheDay

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Big Ideas For Your Business

Resources For Your Business
  • At least it’s the question for many baby boomers who are at or near normal retirement age. Millions of baby boomer business owners are facing this question. COVID-19 has exacerbated making this decision, with Pew Research Center finding that the pace of retirement has accelerated. Should you retire? Can you retire? Will you retire? Financial considerations How are your finances? Many baby boomer business owners may be able to afford a comfortable retirement. They have spent a lifetime building resources: The business. It can be sold to generate a large amount of revenue. To get a rough idea of what […]

  • Okay, so I’ve been in business since dinosaurs roamed the earth. I may not be as tech savvy as millennials, but I’ve kept up with necessary changes. In addition to learning about computers, the internet, and social media, I’ve also picked up some valuable business lessons along the way. I’m sharing five of them with you. 1. Do the best you can in the time you have The time you have to complete your business tasks is limited. You can prioritize, find ways to optimize tasks, and become very efficient. Nonetheless, there are still only so many hours you can […]

  • On his first day in office, President Biden issued an executive order freezing for 60 days various federal proposed regulations as well as those finalized but not yet in effect. The purpose of the freeze is to allow the new administration time to review, and perhaps, change the rules. Some of these freezes impact small businesses. Here are some to consider…and what to do about them. Independent contractor definition The U.S. Department of Labor (DOL) had finalized a rule defining independent contractor for purposes of the Fair Labor Standards Act, which affects minimum wage and overtime rules for employees. The […]

  • “To win in the marketplace you must first win in the workplace.” Doug Conant, former President and CEO of the Campbell Soup Company Your staff is your most valuable company asset, so finding and keeping valued employees on the payroll is essential. Federal tax breaks help you to do this. Recent law changes make them even better that before. During the economic recovery, businesses must use all available means to achieve their goals. Here are some tax incentives to check out now for improving your staff. Work Opportunity Tax Credit The work opportunity tax credit is a federal tax credit […]

  • With the stress of the pandemic and the problems they created for many small business owners, unfortunately failure is now too common a fact of life. But when I think about failure, I simultaneously think about success. Perhaps it’s because I put a face to the words and that face is of Abraham Lincoln. He was born on February 12, 1809, and his birthday used to be a separate holiday. Around the day of his birthday is still good time to reflect on what his words and actions have to teach us today about experiencing failure and striving for success. […]

  • A new administration and new Congress are promising serious climate change legislation soon (the “Green New Deal”). In his inauguration speech, the new President plans a $2 trillion investment in clean energy, with the goal of not producing any carbon emissions by 2035. It’s a good idea for your business to review its current practices so you can be prepared to comply with new requirements likely to be acted soon, and even better, get ahead of the curve. What to expect from green legislation You’ve probably heard of a “carbon tax.” The Carbon Tax Center says it’s a government-imposed fee […]

  •  by Barbara Weltman The COVID-19 pandemic triggered numerous changes in tax law as reflected in the book. But tax law is not static and new legislation, IRS pronouncements, and court decisions continue to tweak tax rules. They affect reporting on 2020 returns as well as tax planning for 2021 and beyond. The Consolidated Appropriations Act, 2021 (CAA), which runs 5,593 pages and was signed into law on December 27, 2020, made a number of changes impacting individuals. Some are reflected on 2020 returns; others do not take effect until 2021 and, thus, affect tax planning and estimated taxes for […]

  • by Barbara Weltman The pandemic triggered numerous changes in tax law as reflected in the book. But tax law is not static and new legislation, IRS pronouncements, and court decisions continue to tweak tax rules. They impact reporting on 2020 returns as well as tax planning for 2021 and beyond. The Consolidated Appropriations Act, 2021 (CAA), which runs 5,593 pages and was signed into law on December 27, 2020, made a number of changes impacting small businesses and their owners. Some are reflected on 2020 returns; others do not take effect until 2021 and, thus, affect tax planning and estimated […]

  • COVID-19 killed vacation plans for most people in 2020. According to Expedia’s annual report issued last Spring, staying home had become the new norm. Until the pandemic is under control, this isn’t likely to change (although Carnival Lines reports that bookings for 2022 are already greater than in 2019). But it’s not too soon to be thinking about vacations. Importance of vacation time It’s a scientific fact that vacations are important to your physical and mental health. For example, according to one article, vacations help you de-stress, which helps to reduce heart disease and high blood pressure as well as […]

  • Small business owners by their nature are optimistic, as evidenced by various surveys (e.g., GGV Capital found that 83% of owners thought they’d do better in 2021 than in 2020). Despite signs of recovery, many businesses are still in the red and may continue to experience financial losses for some time to come. Losses may impact 2020 income tax returns as well as returns for 2021. If you own a sole proprietorship, partnership, limited liability company (LLC), or S corporation, the tax law calls you a noncorporate taxpayer. As such, you report your share of business losses on your personal […]

Multimedia

Resources For Your Business

High-Purpose Cultures for Small Businesses

5 Simple Tips for Staying Connected with Coworkers and Associates

Preparing for Economic Changes: What's Trending and Why It Matters to Your Business

10 Time Management Ideas for Remote Working

#TWEETCHAT CALENDAR
TODAY'S TWEETCHATS

February 25, 2021

UPCOMING TWEETCHATS

  • 8:00 pm
    #BizapaloozaChat Unplugged

    Each Thursday, 8pm to 9pm ET (5pm to 6pm PT)

    Hosted by: Ivana Taylor @DIYMarketers

     

Events in February–March 2021

barbara’s books

  • Small Business Taxes 2021 helps small business owners maximize their bottom line with straightforward, yet comprehensive guidance from the most trusted name in tax.
    Featuring a complete listing of all available business expense deductions, including dollar limits and record-keeping requirements, this book helps you quickly determine what kind of tax relief is available to you, and how to take it--all the way down to where to claim deductions on the forms themselves. Tax facts, strategies, and the latest up-to-date information -- including coverage of the SECURE Act and the CARES Act -- help ensure that you don't miss out on money-saving opportunities, and sample forms and checklists help you get organized and submit a complete and proper filing.
  • The complete guide to all deductions and credits for individual taxpayers J.K. Lasser's 1001 Deductions and Tax Breaks shows you just how much money you can save on your taxes--legally--simply by taking advantage of what's out there.
    Millions of Americans overpay their taxes by billions of dollars every year, because constantly evolving laws and regulations make keeping track of deductions and breaks next to impossible for the everyday taxpayer. This book helps you put a stop to overpayment so you can keep more of your hard-earned money. With a complete list of every possible deduction and credit available to American taxpayers, and clear, easy-to-follow instructions for claiming what is rightfully yours, it is fully-updated to reflect the latest rulings and laws--including the SECURE Act and the CARES Act. Also, an e-supplement with the latest tax developments from the IRS and Congress is provided so that this book answers all of your "Can I claim..." questions with guidance from the nation's most trusted tax advisors.
  • 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 seasoned entrepreneur or just starting out, you’ll find actionable ideas to help you with your finances, your operations, your staff, your marketing, your taxes, your technology, your environment, and your personal growth.
  • 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!
  • 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

  • " Love your articles!
    I love the simplicity of your articles. ”

    -Marie Porolniczak, CB

  • " 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

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