According to the U.S. Small Business Administration (SBA), "Small firms with fewer than 500 employees represent 99.9 percent of the 29.6 million businesses" in the United States. Conversely, large businesses numbered only 18,000 as of 2006. Small businesses and the self-employed truly are the backbone of America.
With tax season fast approaching, make sure your small business is well prepared for April 15th by downloading the 2010 IRS tax calendar for small businesses and the self-employed. (Click the below picture to download this handy small business resource in convenient PDF form).
By Al Lifchultz · February 04 2010
taxes, irs, calendar
In The News
Workplace Shootings in Florida, Texas Again Put Focus on Violence on the Job The two shootings are the highest-profile incidents of workplace violence since a Yale University student’s strangled body was found in the university laboratory where she conducted research. A co-worker, Raymond J. Clark III, was later charged with the murder. Workforce.comManagement and OperationsHow to Resolve Workplace Conflict Conflict in the workplace is a painful reality and a key reason for poor productivity and frustration. Do you have people in your workplace that cause problems for everyone else? Do they create additional work for o...
By Cheryl Sowa · November 10 2009
small business brief, small business, conflict, productivity
Time is running out for many small businesses wishing to take advantage of the expanded business loss carryback option included in this year’s recovery law. Eligible individuals have until Oct. 15 to choose this expanded carryback option. Eligible calendar-year corporations have until Sept. 15.
This carryback provision offers small businesses that lost money in 2008 an excellent way to quickly get some much needed cash if they were profitable in previous years. This option is only available for a limited time, so small businesses should consider it carefully and act before it’s too late.
Under the American Recovery and Reinvestment Act (ARRA), many small businesses that had expenses exceeding their income for 2008 can choose to carry the resulting loss back for up to five years, instead of the usual two. This means that a business that had a net operat...
By Charles M Cooper · August 13 2009
small business, taxes, irs, expanded loss carryback option
Government, Politics and the Economy
Obama Supports Bank Fees for Risk and Wealth Surtax for Healthcare
President Obama signaled his support for a proposal to impose fees on some of the nation’s largest financial firms to cover losses from risky transactions and avert another market meltdown. He also said that a surtax on the wealthy fits with his ideas on paying for healthcare. Bloomberg.com
GOP Financial Services Overhaul
Republicans have developed their own version of legislation aimed at overhauling regulations of the financial-services industry. The GOP version relies more on free-market principles than on additional...
By Charles M Cooper · July 23 2009
small business brief, marketing, small business, economy
If you are planning to start a new business this year, you must be aware of your responsibilities regarding federal taxes. Here are the seven things that the IRS considers vital for you to know if you plan on opening a new business this year.
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Times New Roman";
mso-fareast-font-family:"Times New Roman";}
1. Business Structure
First, you must decide what type of business entity you are going to establish. The type you decide upon will determine a great deal about your taxes, such as which tax forms you have to file. The most common types of bus...
By Charles M Cooper · July 13 2009
small business, taxes, irs
Government, Politics and the Economy
Stimulus Plan: Where are the Jobs?
That is the $787 billion question: Where is all that government stimulus money, and why hasn't it stemmed the rising tide of US unemployment? BusinessWeek.com
Second Stimulus: Democrats Split
Democrats in Congress are divided over whether to push for more deficit spending to end the recession and stem job losses, complicating the possibility of a second stimulus bill. Bloomberg.com
Management and Operations
By Charles M Cooper · July 08 2009
small business brief, marketing, small business, economy
Government, Politics and the Economy
Three Things to Watch in the Second Half of '09
Halfway through the year is a good time to pause, reflect, and take inventory. We have probably survived the worst of the recession but the question is, what's next? Here are three things to keep an eye on. NYTimes.com
Tyson: More Stimulus Needed
According to Obama advisor Laura Tyson, the US should consider a second stimulus package focusing on infrastructure projects because the $787 billion approved in February was “a bit too small.” Bloomberg.com
Management and Operations
By Charles M Cooper · July 07 2009
small business brief, marketing, small business, economy
The American Recovery and Reinvestment Act, enacted in February, added unemployed veterans returning to civilian life and “disconnected youth” to the list of targeted groups covered by the work opportunity tax credit (WOTC). The other targeted groups that could get you the tax credit include people, aged 18 to 39, who live in certain designated communities in 43 states and the District of Columbia; workers displaced by Hurricane Katrina; recipients of various types of public assistance; and certain veterans, summer youth workers and ex-convicts. The instructions for Form 8850 will give you the details and requirements for each of these groups.
In general, an unemployed veteran is a person who was discharged or released from the military during the five year period preceding the hiring date, and who received unemployment benefits for at least four weeks during the one-year period en...
By Charles M Cooper · May 29 2009
small business, irs, hiring, employment
