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Articles to LIFT Your Life and Business

5 Year-End Tax Planning Tips for Business Owners

December is the month that many business owners spend extra time winding down the year and planning for the new year.  Here are five year-end tax planning tips to prepare your business for 2014: Review subcontractor information. If you paid any subcontractor more than $600 during 2013, you are required to send each subcontractor a […]

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3 Steps to Maximize Profits When Selling Your Company

If you are planning to sell your company now or sometime in the future, a recent Forbes.com article advises that there are 3 strategies you should use to get as much cash out of your hard work in building the business as possible: Pre-sale planning.  Look for opportunities to increase the sale price of your […]

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7 Myths About Choosing a Business Entity

New business owners must weigh the pros and cons of the choices they make when it comes to choosing the right business entity for a new enterprise; Entrepreneur recently posted 7 myths that could get in the way of selecting the best business entity: An LLC saves taxes.  The Limited Liability Company (LLC) is designed […]

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Starting a Business? Plan for Your Own Success

According to the Kauffman Index of Entrepreneurial Activity, approximately 300 of every 100,000 U.S. adults started a business in 2012.   The Index found that over 514,000 new firms were started every month in 2012 – but how many will succeed? Of course, in business –as in life – there are no guarantees.  According to the […]

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Online Sales Tax May Soon Be Reality

A new piece of federal legislation known as the Marketplace Fairness Act has passed the Senate and is now awaiting a House vote that most politicos expect to pass as well.  If the bill becomes law, and your business conducts business over the Internet, you will be expected to collect taxes on all purchases and […]

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5 Tax Tips for Small Business

According to SBA data, more than 79 percent of small businesses have no employees – meaning that a majority of small business owners are doing it all.  And when tax season rolls around, it can mean plenty of stress for owners of small businesses. A recent Washington Post column provided these five tax season tips […]

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Small Business Tax Reform Proposal Contains Drastic Changes

Representative Dave Camp (R-MI), the chairman of the House Ways and Means Committee and one of Congress’ top tax lawmakers, has released his proposal for small business tax reform and it contains a number of drastic changes to the current code. A Forbes article takes an in-depth look at the proposal: Section 179 Expenses.  Permanently […]

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10 Legal Tips for Starting Your Own Business

Whether the result of the recent recession or the desire by baby boomers to embark on a new professional path, new business startups are growing fast.  Here are 10 legal tips for entrepreneurs who are striking out on their own for the first time: Choose the right entity.  Decide if you will be operating your […]

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Top 3 Things Small Business Owners Need to Know About the Affordable Care Act

The Small Business Administration (SBA) has launched a new blog series to educate small business owners about what they need to now about the Affordable Care Act before it goes into full effect in January of 2014.  The new series tackles common misperceptions about the ACA; one post details the top three things small business […]

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Proposed Legislation Offers Big Tax Break to Entrepreneurs

A new bipartisan bill introduced in Congress – the Startup Innovation Act of 2013 – promises a big benefit to entrepreneurs via a new research and development tax credit. The bill, which was originally introduced last summer, was reintroduced in the Senate in late January.  A House bill that would mirror the Senate bill is […]

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What the Fiscal Cliff Tax Deal Means for Small Business

Congress passed the American Taxpayer Relief Act – aka, the fiscal cliff tax deal – in the wee hours of January 1, 2013, and President Obama is expected to sign the new legislation as soon as possible.   After the dust from the deal-making settled, the bill contains a mixed bag of both good and bad […]

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