Small Business News

What to Sell your Business?

Looking to buy a used car dealership, or a Pizza Hut franchise? Thinking of selling your company? BizTrader.com, is ready to play matchmaker.

Having been established since 2009, New York City-based BizTrader.com aims to become a one-stop shop for buying, selling and valuing small businesses.

It’s not the first company to take on the market, but it stands out with two distinctive advantages: a global focus and broad search-engine exposure. While online brokers traditionally keep their listings proprietary to their own site, BizTrader.com will (for an added fee) push its listings out to broader search services like Google and Craigslist.

The Top 10 Business Credit Mistakes

We have compiled our Top 10 most common mistakes that businesses make when trying to establish their business credit or corporate credit.

1. Trying to cut costs by using your home address for
your business address.
2. Using a P.O. box or mail drop location for your business address.
3. Not having a separate business phone number from your home phone; also not having a fax number. Read the rest here »

Things Your Business Should Never Do On Social Media, Lessons from Amy’s Baking Company

business man worriedAt this point, it is likely you have heard about the recent Kitchen Nightmare episode in which Gordon Ramsay went to Amy’s Baking Company in Arizona. In response to the episode being aired, the owners hit social media in retaliation to reviewers and bloggers.

The incident has brought up a great time for business owners to review how they use social media. Read the rest here »

$40 Gift Card Offer from HP for Toner Cartridge Purchase

This is a great offer for small businesses since every office has a laser printer. HP is running a promotion for a $40 gift card with the purchase of three laser toner cartridges. This offer is good for cartridges purchased from April 1st through June 30, 2013.

 

For more details and a copy of the rebate form go to CheapInkCartridges.com >>>

4 Things to Know if You Need More Time to File Your Taxes

April 15th is coming quickly. If you are not ready to submit your tax return the IRS does allow a six month extension. Here are four things you should know if you are planning on filing an extension.

1) File your tax return by April 15th even if you can not pay all of the taxes owed. If you need an extension because you can not pay all of your taxes then still file file. Do not request an extension. The IRS recommends for you to file your return on time and then pay as much as you can. This will reduce any penalty and interest charges for the amount you are able to pay. Read the rest here »

Is New Technology the End of Money as we Know it?

 Many are predicting the end of money as we know it in the near future. With the Eurozone counties working to restrict cash payments, Canada discontinuing the penny, and several online payment start-up companies popping up, are we going to become a cashless world soon?

Predictions about future technology and changes in society rarely come true. Remember our promise of flying cars by the year 2000?  Read the rest here »

How To Form An LLC in California

Those looking to form an LLC in California can choose either to hire a professional who specializes in the formation of Limited Liability Companies and Corporations, or you might decide to save a little bit of money and form the LLC yourself. If you choose to do the work yourself we have listed here a few things steps to take.

Paying state taxes might seem a little tricky since each entity in California has different tax rates. Understanding the tax rates can also help you decide if you want to Incorporate, setup an LLC, or set up a Partnership. Currently the LLC is taxed with a $800 per year and a world-wide gross receipts tax based on a current tax table. The C Corporation has a 8.84% net profits tax and the S Corporation has a 1.5% net profits tax. Read the rest here »

How to Earn an 80 Paydex Score with DnB, Dun & Bradstreet.

The Paydex score system with Dun and Bradstreet goes from 0 to 100. Although your Paydex score is not as important as your DnB rating your business, it is a very important start to building your business credit.

To receive an 80 Paydex score your business much have at least three vendors that report to DnB that you have paid your bill on time. Although this seems very easy since most businesses have far more than three vendors they deal with. The tricky part is finding three of your vendors that will actually take the time to report to DnB. Read the rest here »

Businesses Can Now Legally Charge Consumers for Credit Card Fees.

A class-action settlement reached in July 2012 will now allow retailers to charge their customers more for paying with a credit or debit card. Prior to this settlement credit card companies banned retailers to charge any extra fee for customers choosing to pay with a credit card, actually disallowing the practice in retailers service agreements with the credit card company. This settlement is the culmination of a lawsuit started on behalf of about seven million merchants in 2005. Read the rest here »

Online Sellers Are Expected to be Under IRS Scrutiny This Year.

Starting with the 2011 tax year, all payment providers were to issue the 1099-K forms to businesses and to the IRS. The 1099-K forms indicated gross sales processed through the payment provider.

Under this new IRS rule online electronic payment processors (such as PayPal & Amazon) as well as any credit card provider were required to submit a 1099-K for every seller that processed more than 200 transaction in a year and totaled at least $20,000.

With the 2012 tax year being the second year of the new tax law taking affect, the IRS is expected to look very closely as online sellers of all sizes for any discrepancies in gross sales figures. Read the rest here »