Small Business4u

I have been thinking for a while about starting up a small business, based out of my home. It will basically be a mobile auto service business. I have heard lots of stuff about tax advantages to starting up a small business. I have also heard that you can write off a vacation once a year as a board of directors meeting. What are the facts about tax advantages for small business, or where on the web can I find this info? Any help is greatly appreciated!

Your expenses are deductible against your profit. If after the math, you have a net loss from the business, you may deduct this loss against any other income (such as wage, social security, or investment income) on your 1040. There are some limitations depending on the type of business (e.g. passive rule) — however, if you are trying to set up a business, I would focus on the business ideas — do something you enjoy and run with it. Best of luck!!

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I would love to start a small business, deli/ carry out by next year. But concern about the risk and economy crisis these days. Would it be a bad time to do so? I have own a small restaurant before and have enough knowledge to operate the business.
Are banks still lending money for small business owners?

Sure, not all banks out there are lending, but there are still a bunch that are. And if you've got a good business, bad economy or not, chances are you'll win out in the end.

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Internal controls protect a company from fraud and also allow a company to be in compliance with Generally Accepted Accounting Principles, or more often referred to as GAAP. 

What is internal control?

Overall, it a process implemented by a company’s Board of Directors and Management, designed to provide reasonable assurance regarding objectives in the following areas:

1.       Effectiveness and efficiency of operation in the business

2.       Reliability of Reporting

3.       Compliance with applicable rules, laws, and Regulations governed by GAAP, FASB, and GASP

Accounting systems provides businesses with a uniform way to use a company’s data and financial information to strategize in the areas listed above.

There are four key elements of implementing internal control:

1.       1.Environmental control

2.       2.Risk Assessment

3.       3. Control Procedures

4.       4.Monitoring  of all of the above – the overall system

The reason these issues are so important is that it ultimately protects the company from fraud and collusion.   In addition to criminal injuries, good internal control is necessary to inform the management of abuses or inconsistencies vis a vie over-production, poor production, or inadequate production by both personnel and equipment.  For example, manufacturing production controls must be stringently adhered to.  If a machine is off by 5% in making a product, the ramifications of this downturn could be a disaster.  Simiiarly with people.  People in an organization need to know what is expected of them up front.  This comes with good controls.  It then becomes easier to monitor their commitment, production and success at their job.  Numbers do not only belong in the front office.  For a business to run successfully, all employees need to know production numbers, reality of achieving those numbers and  can contribute mightily to enable production to increase based on their input.

In short, we could write pages about internal controls.  Suffice to say that this is just a snippet  of information  about running a business.  If you are a small business owner, an example of internal controls would be the issuance of a purchase order to your supplier, a receiving ticket created by you when product is received, and matched to an invoice when received.  Although internal controls can sound sophisticated and overly-complicated, the bottom line is that you must know your business, understand all facets of your business, and in general ALWAYS control the money.  Start with that and then we can go to using GAAP and FASB.  Good luck!

Im looking at setting up a business so im looking for more opinions/help on the issue for small business and potential small business people such as myself

thanks for your time and if you have any links to any things which can help me on the issue is most welcome e.g. how to market the business, suppliers for small business etc

*Once you get set up and in business your biggest benefit you can offer to your customers is guest service & convenience! The two things the consumer doesn't get in the big box retail arena*

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Let me first start out and say that I am an internet marketer. Fairly new. That seems to be the problem. I am also a business coach and a dyed-in-the-wool entrpreneur. I have built two relationships with some internet experts online. I have paid for their packages and even looked at who they recommended. But what is going on with the push, push, push!!! Being fairly well-educated, I know how to read. If I don’t buy something at the original price of $399. how can it be reduced to $49.? This is a con and I for one am getting a little tired of being pushed into buying more and more and more on this subject. Instead of talking to me as an intelligent person and selling as an intelligent person with a legitimate product, I am getting inundated with crap. How do I know it’s crap? I don’t know for sure, but the example above gives me a clue. If a product is legitimate, it should have a legitimate price, maybe a sale, but that’s it. Who are we kidding here. Just get enough suckers to click on a site and give them a crap ebook that doesn’t really show them anything because you have to be an expert anyway.

Luckily I think I have found some good resources, but it wasn’t easy. Yes I would like to make money on the internet. Yes as much as I can. But don’t throw stupid numbers at me that a new person could NEVER hope to achieve in the beginning. I know business and I am prepared to LEARN the internet business. I don’t expect miracles but I resent these get rich schemes that prey on anyone that expresses an interest in learning this industry. Vultures is too kind of a word. So for those of you who are interested in this business, let me give you some legitimate resources that offer a real product for a fair price. No I’m not an affiliate and get no money for this. I just want you to have good resources.

FYI

www.thirtydaychallenge.com

This course if free given by Ed Dale and Dan Ranies and is truly a gift. They are giving back to the internet community in an most honorable way.

WordPressDirect.com

Run by fair people for a very fair price. Great source for finding key words.

TrafficGeyser.com

Again, very fair price and tremendous information about using video and audio on your sites.

With these 3 sites, you can begin to understand what’s going on in the internet world and start your business with confidence. Also, when you start getting billions of offers for other products, be careful what you buy. You might not need it. Inform yourself first by reading blogs. Happy Holidays Lorna

http://www.reachd.com
Rodney Bartlett interviews Google’s Matt Cutts at Pubcon 2007 in Las Vegas. Matt had some excellent tips for small business owners and answered a few great questions.

Duration : 0:10:29

Read the rest of this entry »

Someone sent this to me and it was too good not to pass on.

How many zeros in a billion?

 
This is too true to be funny.

The next time you hear a politician use the
word ‘billion’ in a casual manner, think about
whether you want the ‘politicians’ spending
YOUR tax money.

A billion is a difficult number to comprehend,
but one advertising agency did a good job of
putting that figure into some perspective in
one of it’s releases.


A.
A billion seconds ago it was 1959.

B.
A billion minutes ago Jesus was alive.

C.
A billion hours ago our ancestors were
living in the Stone Age.

D.
A billion days ago no-one walked on the earth on two feet.

E.
A billion dollars ago was only
8 hours and 20 minutes,
at the rate our government
is spending it.
While this thought is still fresh in our brain…
let’s take a look at New Orleans
 It’s amazing what you can learn with some simple division.

Louisiana Senator,
Mary Landrieu (D)
is presently asking Congress for
250  BILLION DOLLARS
to rebuild New Orleans   Interesting number…
what does it mean?

A.
Well… if you are one of the 484,674 residents of  New Orleans
(every man, woman, and child)
you each get $516,528.

B.
Or… if you have one of the 188,251 homes in
New Orleans , your home gets  $1,329,787.

C.
Or… if you are a family of four…
 your family gets  $2,066,012.

Washington, D. C
< HELLO! >
Are all your calculators broken??

Accounts Receivable Tax
Building Permit Tax
CDL License Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Federal Income Tax < BR>Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges (tax on top of tax)
IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Tax
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Service charge taxes
Social Security Tax
Road Usage Tax (Truckers)
Sales Taxes
Recreational Vehicle Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Tax
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Non-recurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Tax
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax

STILL THINK THIS IS FUNNY?

Not one of these taxes existed 100 years ago…
and our nation was the most prosperous in the world.

We had absolutely no national debt…
We had the largest middle class in the world…
and Mom stayed home to raise the kids.

What happened?
Can you spell ‘politicians!’

I hope this goes around the
USA
at least 100 times

What the HELL happened?????

I am 55 year old male, and live in Melbourne, Australia. I injured my knee and therefore can no longer work in factories or constructions sites.
I know how to use computers and internet and have a broadband connection.
I only have $ 7,000 cash to invest.
I would like to try self employment such as doing business online etc.
I have trouble coming up with ideas. can you suggest a small business I should start online.

Maybe you could consider some online businesses in your passionate areas. It could be in the form of selling digital products, doing some affilitate marketing, pay per click, etc.
See: http://www.internetbusinessmodelonline.com and you might be able to get some ideas from there.

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I am going to a small business show and I am looking for new and different ways to market my cake decorating business. Does anybody have any ideas to attract customers? For example, for a raffle is there a website where my customers can go and put in a code to see if they won? Any suggestions would be greatly appreciated.

Provide samples. If they like what you produce, they will buy more of it.

Good luck!

I don’t want to waist time with people who want work at home jobs. I want people who are looking for a small work from home BUSINESS, not job. Any business cost money to start. Investment is small and income is more than substantial. When you do the work! The business is in Real Estate. I don’t want to spend alot on advertising. I don’t feel I have to sell the business. The business is a service that sells it’s self. I just need the traffic, so people can make up their on mind. Any ideas?

One way to tackle this, is to get proficient in SEO so that you can increase your knowledge, get qualified traffic to your website, and save yourself a bundle of money in the process.

I discuss several of these methods in my lens at the address below. I am sure you will find it useful as there are several free traffic tools there as well.

One item, not discussed there but which I use every week, is my social bookmarking aggregator, Onlywire.com It explains itself, but is a very useful tool. If you are not using it, or an equivalent, you should.

I wish you success in your business.
Anthony