Library - Business Development

Whether you have one employee or 50, setting up a payroll system not only streamlines your ability to stay on top of your legal and regulatory responsibilities as an employer, but it can also save you time and help protect you from incurring costly Internal Revenue Service (IRS) penalties.

Here are 10 steps to help you set up a payroll system for your small business.

Many people who are fed up with the big-city rat race fantasize about leaving it all. They fantasize about moving to a small, close-knit community and starting a business. They dream of controlling their own destiny, rather than the pressures of a corporate job. WalletHub recently compiled a list of the best small cities to start a business in. The Study’s authors note that starting a business in a small town has both pros and cons. For example,

Many businesses at one time or another may have cash flow challenges. One popular option to obtain short term funding is to secure a revolving line of credit. This not only helps with basic day to day operations, such as meeting payroll, purchasing supplies, increasing working capital or obtaining extra inventory; it also provides many other benefits.

The new qualified business income (QBI) deduction, also known as the section 199A deduction, that may be available to individuals, including many owners of sole proprietorships, partnerships and S corporations. Some trusts and estates may also be able to take the deduction. This deduction, created by the 2017 Tax Cuts and Jobs Act, allows non-corporate taxpayers to deduct up to 20 percent of their QBI, plus 20% of qualified real estate investment trust (REIT) dividends and qualified publicly traded partnership (PTP) income.

Naming a business is in many ways like choosing a name for you baby.  It needs to be one that rolls off the tongue, denoting meaning and special significance.  Because, well, you business is your baby.

The name of your business helps create an image in the consumers mind and establishes your identity in the marketplace.  Here are some tips for naming your business and/or your company's blog.

When it comes to starting a business, there’s often some confusion about the process of business name registration. How are trade names and trademarks different? Does a trade name afford any legal branding protection? Can your trade name be the same as your trademark?

One of the first responsibilities for many new businesses or businesses that are restructuring is obtaining an Employer Identification Number, or EIN, from the IRS.

An EIN is a unique nine-digit number that identifies your business for tax purposes. It?s similar to a Social Security number but is meant for business related items only.  

Many business owners treat their 'About Us' page as an afterthought, but it is actually one of the most important pages on your website.  It tells the story of your brand and who it helps - not about you and a boring stream of accolades, nor how great your company is, nor how many years of experience you may have.