Last week we talked about the most hated small business taxes among small business owners. This week, we’re asking our small business experts what they’ve learned about taxes since opening up shop. These were our ten favorite answers:
1. “As a mobile pet sitting business, one of my favorite write-offs is mileage. Most people forget to keep track of their miles and just guess, but often they are getting less credit than they should. I keep a notebook in my car to keep track of mileage, then when I get home at the end of the day I transfer it to a spreadsheet. This way I have all my mileage ready for tax time, and have it in both paper and digital form.” -Chris Herath, Atlantic Pet Sitting Continue reading
Benjamin Franklin said it best when he uttered the very true, “Nothing is certain but death and taxes.” Love them or hate them, taxes are just a part of life, and a very big part of small business. We asked some of our small business experts which small businesses taxes they hated the most. These were our 18 favorite answers. Continue reading
This is easily one of the most commonly asked questions we get. Each state has different rules and regulations when it comes to income tax. Most have both, some don’t collect personal income tax, and a few don’t college corporate income tax. And to a new business owner forming a corporation, forming in a state without a corporate income tax might sound awesome! After all, who likes paying taxes?
Unfortunately, things aren’t that cut and dry, and there are good reasons why so many business owners opt to stay in the state that they do business.
You can form a corporation in another state
Owning a franchise is a completely different experience than owning your own, independent business. For this segment of “Experts Weigh In,” we asked our franchise experts what they’ve learned about the franchise experience and what they would tell potential franchise owners. Here were our 14 favorite answers:
1.“As a franchisee with Brightway Insurance, I learned about the incredible support available to me within the Brightway system vs. the support I would have had if I struck out as an independent insurance agent on my own. From technology to telephony to business analytics to marketing, it’s like working at a large corporation with a terrific infrastructure but still being my own boss and responsible for building my own business.
If someone is interested in getting involved in a franchise, I’d tell them to ask a lot of questions about the support available to them and the track record of the model. In most cases you should find something that has been thought out, tried, tested, and proven so all that is left is to leverage it.” -Billy Wagner, Brightway Insurance, Inc. Continue reading
Whether you have a great HR team or you deal with your employees directly as the small business owner, dealing with sensitive workplace issues is always tricky. We’ve all heard about the co-worker who likes to warm up fish in the microwave everyday, or skips the all too frequent shower. Between dealing with body odor and inappropriate dress, we asked our pool of small business experts how they deal with sensitive workplace issues. These were our 10 favorite answers:
1.“I deal with workplace issues privately and head on in real-time as they happen. Dancing around the real issues is tiresome, wasteful, and sets the foundation for a water-cooler culture.” -Ryan P. Blanck, CPF, CPT, offtrackonpurpose.com
Ask any entrepreneur and he or she will tell you that they keep a couple tricks up their sleeve to help keep their business running smoothly. We asked our small business experts what their favorite tips, tricks, and tools were for running their business. These are the top 53: Continue reading
The time off requests have slowed down, the holiday parties have been celebrated, and the new year is here! Small business owners everywhere are trying to get their teams back on track and ready to tackle 2015. We asked some of our small business experts how they were getting back into the swing of things. Here’s what the had to say: Continue reading
Welcome to the first ‘Business Basics’ of the year! We are starting 2015 off strong by looking at privately held companies. The structure of privately held business is often misunderstood. People wonder what distinguishes a privately held company from a publicly one, or believe that any business run by a non-government entity constitutes a private company. That isn’t the case, and so to clear up any confusion, we’ve answered some of the more commonly asked questions we get about private companies.
What is the difference between a privately held company, and a public one?
A privately held company is also known as a ‘closed company,’ because the ownership of the business is closed. In other words, you can’t just decide to buy a chunk of the business off of the market. Continue reading
2015 is officially here! And business forecasters all across the internet are scrambling to their crystal balls to give their predictions as to what is, and isn’t, going to work in the new year. Of course, if you regularly follow our blog, you’d know we beat them by a good month with our infographic “2015 Small Business Industry Predictions.” But just in case you missed it, or you want a refresher as to what we think will be the best industries to start a small business in, here’s a quick rundown of what we think is going to happen.
What industries are going to do well in 2015?
Happy New Year! 2014 was an awesome year full of growth and renewal here at MyCorp. It was also the best year our blog has ever had! And that’s largely thanks to the slew of guest-posters and small business experts who have been kind enough to contribute. While we could spend hours going over our favorite posts of 2014, we thought our time might be better spent highlighting some of the top posts from this last year.
The Most Viewed – “3 Keys to Crafting the Perfect Logo”