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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®

June 29, 2016

Extension for Work Opportunity Credit Deadline

Usually, in order to claim this tax credit you must submit IRS Form 8850 to the state workforce agency within 28 days of the first day of employment of a member of a targeted group. However, if you hired any worker between January 1, 2015, and August 31, 2016, from a targeted group other than a long-term unemployment recipient (or a long-term unemployment recipient between January 1, 2016, and August 31, 2016), you can submit the form through September 28, 2016, to claim the credit on your 2015 tax return for 2015 hires (2016 for long-term unemployment recipients). Originally, the extended deadline had been June 30, 2016. Note: A long-term unemployment recipient is someone unemployed for at least 27 weeks and receiving government unemployment benefits.

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Big Ideas For Your Business

Resources For Your Business
  • There’s no easy answer to this question. In the course of Senator Sander’s presidential bid, the call for a $15 minimum wage rate was loud and clear. Some localities have already adopted this rate; others are considering it. What are the real economic results of a substantial hike in the minimum wage rate? Why it’s a good thing There are certainly some compelling arguments on why a $15 minimum wage is a good thing. A couple of years ago, economist Robert Reich listed 7 reasons: It is keeping up with inflation The current rate isn’t enough to keep workers out […]

  • This isn’t a new question. Ask any business owner and he or she has a tale of woe when it comes to government regulations. A few weeks ago a local fisherman I know was told that he could not fish for red snapper off the coast of Florida in 2016. This news came after he had paid thousands of dollars in license fees to fish commercially for red snapper. Another local entrepreneur was so hung up by the building department that she exhausted her startup money and never opened her doors. Have you experienced similar government intrusion into your business […]

  • Congratulations! You’ve gone through the loan process and now have the funds you wanted. Now what? What you do with the money may be entirely up to you. For example, when applying for a loan from Kabbage, an online lender, you aren’t asked what you need the money for; you have the freedom to spend the funds as you see fit. Here are some guidelines for using your funds wisely. Avoid frivolous spending Receiving the proceeds of your small business loan isn’t like winning the lottery. If you foolishly spend your winnings or gamble them away, there are no consequences. […]

  • The U.S. Small Business Administration says that 52% of all businesses in the U.S. are home-based. If you’re one of them, planning to become one of them, or merely work from home occasionally, make sure you set up your office for best results. Here are 5 areas to address. 1. Make sure it’s legal Before you decide to operate a business from your home, be certain that it’s permissible. Freelance writers, tutors, and therapists usually don’t need to worry about local zoning laws on running a business in residentially-zoned areas. However, some types of businesses may not be allowed. If […]

  • Each state has its own regime for corporate income tax, sales tax, use tax, and other revenue raisers. Typically, you are subject to a state’s taxes if you have a nexus to the state.  Nexus means having a substantial physical presence within a state, such as maintaining offices, warehouses, or a sales force. The presence may be permanent or temporary. However, as states look to expand their ability to tax, the concept of nexus is growing as well, and may cause you to become subject to a state’s taxes without any conscious decision on your part to transact business there. […]

  • With the 2016 hurricane season under way until November 1, now’s a good time for you to review how ready your business is to face a storm or other disaster. It’s been reported that 40% of small businesses suffering hurricane damage fail to reopen. Even if you’re not in an area typically impacted by hurricanes, there are other disasters that can befall you. I’ve had some serious hurricane experience. I was at my mom’s house in 1992 during Hurricane Andrew. I experienced Hurricane Sandy up close and personal. I was without power for 11 days, and I broke my foot […]

  • Setting Your Workday

    The big news for business of late centers around the new overtime rule that applies when workers (other than “exempt” employees) work more than 8 hours a day (technically the rule applies for work over 40 hours per week). The rule changes the threshold for exemption, making more workers eligible for overtime pay.  The advent of this new rule serves as an impetus for small business owners to reevaluate their workday. Consider the following: History of the 8-hour day During the Industrial Revolution, it wasn’t uncommon for workers to put in 10 to 16 hours a day, 6 days a […]

  • On-Demand Economy and Taxes

    The U.S. Census Bureau reported several years ago that self-employed and microbusinesses (no more than 9 employees) made up over 78% of small businesses, and that self-employed individuals were the fastest growing business group in the U.S. One of the key reasons for this growth is the relatively new on-demand economy of workers for Uber, Lyft, TaskRabbit, and Etsy. A new report entitled Shortchanged: The Tax Compliance Challenges of Small Business Operators Driving the On-Demand Economy by Caroline Bruckner, Managing Director of the Kogod Tax Policy Center at American University, had some startling findings about on-demand activities and those in them […]


Resources For Your Business

Tracking Personal Time Off by OPEN Forum

Small Business Taxes and Spending by OPEN Forum


June 29, 2016


  • 8:00 pm

    Each Wednesday from 8-9pm ET
    Sponsored by: @SmallBizLady, @Tai_Goodwin

Events in June 2016

barbara’s books

  • Eliminate confusion, maximize deductions, reduce payments, and conquer your small business taxes with ease In J.K. Lasser's Small Business Taxes 2016, the most trusted name in tax guidance helps small business owners maximize their bottom line. Fully updated for 2015 tax returns and 2016 tax planning, this detailed guide provides concise, plain-English explanations of tax laws tailored to business owners who are experts in their field—not in taxes.
  • The must-have guide to tax write-offs, with clear advice from a trusted expert J.K. Lasser's 1001 Deductions and Tax Breaks 2016 answers the most common tax question—"what can I deduct?" Updated and expanded for 2015 tax filing and 2016 tax planning, this straightforward guide uses plain English to explain the many available deductions and credits, allowing you to quickly recognize ways to reduce what you owe and maximize your returns.
  • 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 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. newsletters or blog. ”

    -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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