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Big Ideas for Small Business® has been dedicated to helping small businesses succeed for over 20 years. The brainchild of Barbara Weltman, a respected corporate speaker, contributing editor, author of more than a dozen books from major publishers, sought-after expert media source, newsletter publisher and more than ever, a trusted advocate for small business owners. Big Ideas for Small Business® is a haven for entrepreneurs looking to succeed.

Idea of the Day®

February 25, 2017

Business Traveler: Check Your ID

Driver’s licenses in some states may soon be noncompliant with TSA requirements so other IDs will be needed to fly. For example, Pennsylvania’s driver’s license is acceptable until June 6, 2017. Find the status of your state’s ID here. Watch for changes in some state’s IDs in the months to come.

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Big Ideas For Your Business

Resources For Your Business
  • S corporations are corporations formed under state law that elect to be taxed as pass-through entities for federal income tax purposes. Most states provide similar tax treatment for state income tax purposes. S corporation status means that business income or loss passes through to owners and is taxed on their personal returns, in comparison to C corporations that are separate taxpaying entities. S corporations are the most popular type of corporation, accounting for about 68% of all corporate returns filed in 2015. However, there is a growing list of reasons why S status may no longer be desirable. Here are some […]

  • “Lawyers are seldom loved but often needed,” according to Robert B. McCay, who was a former dean at NYU Law School.  In the course of your business you’re likely to incur legal expenses, some of which may be modest, but some may be substantial. If you thought that all legal fees paid by your business or by you in connection with your business are deductible, you’d be wrong. Startup costs During the course of starting a business, you may incur legal fees for incorporating or forming a limited liability company, drawing up contracts with suppliers, obtaining a lease from a […]

  • What’s Next for Nexus?

    The dictionary defines nexus as a connection or link. In tax parlance, it means having a significant physical presence within a state so that a business becomes subject to that state’s tax rules (i.e., paying state income taxes; collecting sales taxes). The following discussion is confined to what nexus means for a business’s obligation to collect sales taxes. The discussion is packed with cases but it’s important to understand what has happened, and what could happen.   History of nexus In 1992, the U.S. Supreme Court in Quill Corp. v. North Dakota, ruled that states are prohibited from imposing sales […]

  • If you need new equipment, whether large or small, determine whether you can afford it. Not buying equipment can cost you dearly in lost productivity. However, you may need some help to swing the purchase, and vendors are often willing to provide the financing to close the deal. Understand how vendor financing works and whether it makes sense for you. Types of equipment financing You can finance the acquisition of equipment as you would any purchase. You can, for example, charge the payment to a credit card and pay it off over time at the speed that you can afford. […]

  • This is not my usual blog. It is a Supplement to my 2017 edition of J.K. Lasser’s 1001 Deductions and Tax Breaks. (The Supplement to J.K. Lasser’s Small Business Taxes 2017 was previously posted.) This Supplement is designed primarily for readers of the book to update the information that is provided there. The tax law is not static, and since the publication of the book last October, there has been action by Congress, the IRS, and the courts which impact your 2016 return as well as your tax withholding and estimated taxes for 2017. The blog is also helpful to […]

  • According to the National Council on Aging, by 2019, 25% of the American workforce will be age 55 or older. Whether you have seniors on your payroll now or are hiring and may have older job applicants, here are some of the special legal and tax concerns for businesses with older workers. As a baby boomer myself, this subject is highly relevant to me, but should be of concern to all small business owners. You’ll see that older worker or senior worker is defined differently for different purposes. Age Discrimination in Employment Act (ADEA) There’s a federal law called the Age […]

  • This is not my usual blog. It is a supplement to my 2017 edition of J.K. Lasser’s Small Business Taxes. It is designed primarily for readers of the book to update the information that is provided there. The tax law is not static, and since the publication of the book last October, there has been action by Congress, the IRS, and the courts which impact your 2016 return as well as your tax withholding and estimated taxes for 2017. The blog is also helpful to those who have not bought the book but who want to know about tax changes […]


Resources For Your Business

Tracking Personal Time Off by OPEN Forum

Small Business Taxes and Spending by OPEN Forum


February 26, 2017


Events in February 2017

barbara’s books

  • The ultimate money-saving tax guide for the small business owner.   J.K. Lasser's Small Business Taxes is designed to help business owners make sense of their taxes and file correctly, on time, without over- or under-paying.  Written in a straightforward and accessible style, this reliable resource offers a complete overview of small business tax planning and provides you with the information needed to make tax-smart decisions throughout the year. Focusing on strategies that help you use deductions and tax credits effectively, shield business income, and maximize other aspects of small business taxes, this practical guide will show you how your actions in business today can affect your bottom line from a tax perspective tomorrow.
  • 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. Fully updated to reflect the latest rulings and laws — including an e-supplement with the latest tax developments from the IRS and Congress — this book answers all of your "Can I claim…" questions with guidance from the nation's most trusted tax advisors.
  • 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.3
  • Smooth Failing - Living Edition

    This is the Living Edition of Smooth Failing. New stories from business leaders on their business failures and the lessons learned will be added regularly at no additional cost. Alerts will be sent out automatically when each new version is available. Specific requests and challenges can be submitted by the reader for future consideration and these will dictate how often and how many additional stories will be made available.
  • 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."


  • " 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

  • " 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

  • " Absolutely love your Idea of the Day®
    it’s BRIEF, concise and timely. Funny, I do a quick scan of my bloated mail box, quickly deleting what I feel is a time waster. But I NEVER delete Idea of the Day® until I've first opened it. Both you and Napoleon Hill's Thought for the day ALWAYS get read. You’re in terrific company. Thanks. ”

    -Don Aronowitz


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