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.
July 23, 2017
Refunds of PTIN Fees?
In June, a U.S. district court decided that the IRS has the authority to require tax return preparers to obtain Professional Tax Identification Numbers (PTINs), but not to charge for them. The Tax Foundation estimates this could amount to a $300 million refund. The government may appeal the decision.
On July 20, 1969, the U.S. space program put men on the moon. This was just a little over eight years after Alan Shepard became the first American to go into space and President Kennedy’s challenge to Congress (three weeks after Shepard’s flight) to put a man on the moon. He said: “We choose to go to the Moon! … We choose to go to the Moon in this decade and do the other things, not because they are easy, but because they are hard; because that goal will serve to organize and measure the best of our energies and […]
I’m excited to be Presenting a FREE, live webinar — Small Business Bootcamp — on July 26, at 8pmET! Find all the details here. Please help me by spreading the word and inviting those you know who want to start a new business … or who are new business owners. They’ll gain insight on 25 things every business NEEDS for long-term success!
Employers are required to verify the eligibility of an employee to work in the U.S. Hiring someone who is not eligible to work in the U.S. can result in penalties for the company. Verification is done on U.S. Citizenship and Immigration Services’ Form I-9. On July 17, 2017, USCIS issued a new version of the form. Employers can use the new form (a paper or electronic version) or continue through September 17, 2017, using Form I-9 with a release date of 11/14/16. Starting on September 18, 2017, only the new form can be used. What’s new? The new form is […]
When it comes to tax rules, there are many misconceptions among small business owners. While their CPAs likely will get things right when they complete tax returns, it’s up to business owners to know the rules so understand the tax consequences of their actions throughout the year. Take this quiz to see how you score. (Note to tax practitioners: if you disagree with my answers, please email me.) Which type of business entity produces the best tax results? Sole proprietorship Partnership Limited liability company S corporation C corporation A small business owner takes a new employee out to lunch so […]
According to a report earlier this year, over three-quarters of data breaches occur at companies with fewer than 100 employees. The average cost of a compromised customer record is $141 to cover notification, settlements, legal fees, and more. To ballpark your exposure, figure that if your data is breached and you have 200 customers, it could cost you about $28,200. (Note: The above referenced report is free, but you must sign up to download it.) And data breaches aren’t the only concern. Ransomeware is on the rise. Newsweek reported that attacks in 2017 were up 250%. The average demand: over […]
Tracking Personal Time Off by OPEN Forum
Small Business Taxes and Spending by OPEN Forum
-Lynnette Khalfani-Cox, The Money Coach
-J. S. Budnik
-Meredith Wood, Fundera Ledger