If you’re like most small-business owners, you probably started your operation as either a sole proprietorship or, if you had co-owners, a partnership. This company structure is the simplest and least costly to set up, with less paperwork required. However, sole proprietorships and partnerships are not separate legal entities from their owners. You report your [...]
A SEP IRA allows a small-business owner to make retirement contributions to his or her own retirement plan, as well as to company employees' plans.
Small businesses spend an average of 5.5 hours per week managing their social media presence, and 85 percent of small-business owners say they’re the ones primarily responsible for their companies’ online efforts, a 2013 study commissioned by Staples shows. And why not? Sites like Facebook, Twitter, and Google+ can be an affordable, effective way to [...]
Etsy.com is a retail website set up for artisans to showcase and sell their handmade crafts and art. The site handles all of the ordering, notifications, and payment processing, making it easy for crafty entrepreneurs to focus on production. The process of setting up an Etsy shop is fairly straightforward, but you’ll need to make [...]
Every entrepreneur has different reasons for selling a business, but there are better times and conditions than others in which to do so. For instance, selling simply because you’re exhausted or can’t stand managing day-to-day operations anymore can drastically reduce the value of your company. But bailing out under other circumstances may prove profitable. Here [...]
You can’t personally monitor everything that occurs at your place of business. Increasingly, small-business owners are turning to surveillance systems to keep them apprised of what’s happening when they aren’t around, according to the American Management Association. In its most recent survey, the group found that 48 percent of employers use video monitoring in the [...]
As a small business owner, tax time can be stressful, especially if you're scurrying to pull together all of your receipts and trying to remember everything you did last year. Although accountants can help you sort and summarize, it's a lot less expensive if you do that part yourself. Here are the top five things that [...]
It’s the kind of letter or phone call that strikes fear in the hearts of most small-business owners: The IRS is contacting you to audit your income-tax return. There’s no need to panic, however. Although there is no sure-fire way to avoid a tax audit, there are ways to mitigate the stress and pain of [...]