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®

August 09, 2020

Small Biz Owners Using their Own Funds Now

According to CreditCards.com, over a third of small business owners are relying on their personal funds during the pandemic. In fact, 24.4% have used their personal credit cards and 20.7% have used their personal savings accounts for business expenses (10% did used both of these resources). What will it take to stay afloat in 2021? Owners say increase sales (32%), receive government assistance, such as stimulus funding (19%), and obtain any type of loan (13%).

Reminder! Get the Idea of the Day® in your inbox each morning — simply sign-up and you‘ll have access to the new eBook for free today.

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
  • I’m a seniorpreneur. I’ve been running a business for longer than millennials have been alive. Obviously, I didn’t start out in business as a seniorpreneur. But everyone who starts a business will end up as one if they’re lucky to be successful. Being “old” in a new technological era presents challenges to be sure. But there’s a lot to be said for having significant perspective. Let me share some personal observations. Landscape for seniorpreneurs As a seniorpreneur, I’m not alone. According to one source, nationally those age 55-64 are twice as likely to start a business as millennials. AARP suggests that […]

  • Communications from government—federal, state, or local—can be scary. Often they include language such “penalties,” “fines,” and “further action.” It’s costly for small business owners to run to accountants, attorneys, and other professionals for advice. Learn what the correspondence means so you can determine whether you can handle matters yourself or need the help of an expert. Letters regarding wage withholding IRS sends Letter 2800C, also called a “lock-in” letter, to instruct employers to follow a specific federal income tax withholding arrangement for an employee who doesn’t have enough income taxes withheld from their wages. The employee has 60 days from […]

  • The number one question that businesses are asking about the pandemic is when it will end. No one has an answer. No one is even speculating about it. Hopes of a vaccine are on the rise, but again, there is no set time for inoculations to begin. Beyond this big question, there are numerous other questions that business owners face now and need to address. Here’s a rundown of some business questions to address, with what’s known to date. Q: I received a PPP loan. Can I deduct the wages, rent, utilities, and other costs covered by the loan forgiveness? […]

  • You may have read, or at least heard of Robert Fulghum’s book from the 1980s entitled All I Really Need to Know I Learned in Kindergarten: Uncommon Thoughts on Common Things. The book contained 16 life lessons. I’ve selected 5 of them that are essential for running a successful business. 1. “Share everything.” There are many ways in which business owners can share with employees, customers, and their community. Here are some ideas: Profit-sharing with employees through qualified retirement plans, bonuses, or pay raises. Mentoring employees to help them develop job skills. Posting videos to help customers learn (e.g., how […]

  • Many small businesses rely on part-time employees to help them operate efficiently. They don’t require full-time employees, at least not for all positions. As companies re-open after the pandemic, or are operating now with part-timers, be sure to understand the rules for what benefits you are required to provide to these workers as well as those you might consider offering even though not required. Overview Who is a part-timer? It used to be up to employers to fix this status based on the number of hours worked, with many setting a minimum of 20 hours per week as the schedule […]

  • The economy consistently changes. Sure, the current pandemic has created unprecedented challenges and an economic downturn for many businesses. At the same time, the current situation has created opportunities for other businesses. Whether we’re experiencing a boom, a recession, or even a depression, business owners need to find ways to handle whatever situations they face. Professional assistance Small businesses owners can’t handle everything alone. There aren’t large departments charged with making decisions about HR, accounting, marketing, and legal matters. Small business owners need to rely on professional assistance from outside sources. During this pandemic, there are accounting questions about whether […]

  • Pivoting is defined as turning or twisting. In a business context, it means changing direction. And that’s just what businesses have done or are doing now as a result of COVID-19 pandemic in order to survive, and even thrive. Businesses are pivoting According to a survey from PostcardMania, 58% of small business owners have pivoted as a result of COVID-19. Some of the examples of pivoting included offering online classes and hosting Zoom meetings, offering “try before you buy” options, changing hours of operation, offering delivery services and curbside pickup, and ceasing email marketing in favor of offering tips. Harvard […]

  • A key responsibility of being an employer is handling payroll taxes. These are comprised of figuring income tax withholding from employees’ paychecks (federal and, where applicable state), as well as the employee’s share of FICA. It also means depositing this withholding plus the employer share of FICA. But various tax rule changes related to COVID-19 complicate employer actions with respect to employment tax deposits. The following explains the basic rules and then the modifications resulting from COVID-19-related legislation. Trust fund recovery penalty Employers hold a unique position when it comes to withholding taxes from employees’ paychecks. Employers are responsible for […]

  • 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 […]

  • 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
August 2020
Monday Tuesday Wednesday Thursday Friday Saturday Sunday
July 27, 2020

Category: General#BizapaloozaChat

#BizapaloozaChat
July 28, 2020 July 29, 2020

Category: General#InsiderChat

#InsiderChat

Category: GeneralSmallBizEdgeChat

SmallBizEdgeChat
July 30, 2020

Category: General#SmallbizChat

#SmallbizChat
July 31, 2020 August 1, 2020 August 2, 2020
August 3, 2020

Category: General#BizapaloozaChat

#BizapaloozaChat

Category: General#MoneyChat

#MoneyChat
August 4, 2020

Category: General#InfluencerChat

#InfluencerChat
August 5, 2020 August 6, 2020

Category: General#SmallbizChat

#SmallbizChat
August 7, 2020 August 8, 2020 August 9, 2020
August 10, 2020

Category: General#BizapaloozaChat

#BizapaloozaChat
August 11, 2020 August 12, 2020 August 13, 2020

Category: General#SmallbizChat

#SmallbizChat
August 14, 2020 August 15, 2020 August 16, 2020
August 17, 2020

Category: General#BizapaloozaChat

#BizapaloozaChat
August 18, 2020 August 19, 2020 August 20, 2020

Category: General#SmallbizChat

#SmallbizChat
August 21, 2020 August 22, 2020 August 23, 2020
August 24, 2020

Category: General#BizapaloozaChat

#BizapaloozaChat
August 25, 2020 August 26, 2020

Category: General#InsiderChat

#InsiderChat
August 27, 2020

Category: General#SmallbizChat

#SmallbizChat
August 28, 2020 August 29, 2020 August 30, 2020
August 31, 2020

Category: General#BizapaloozaChat

#BizapaloozaChat
September 1, 2020

Category: General#InfluencerChat

#InfluencerChat
September 2, 2020 September 3, 2020

Category: General#SmallbizChat

#SmallbizChat
September 4, 2020 September 5, 2020 September 6, 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