“Do you accept credit cards?” If you’re a business owner you probably hear this question again and again. If you’re starting a new business, or thinking about it, get ready. You’ll need to have the right answer. The alternative can be costly.
Isn’t credit card processing expensive?
There are, of course, fees involved with credit card processing. These fees are a tax-deductible (consult your tax advisor) cost of doing business like your rent or electric bill. Now, you could certainly save money by turning off your lights. However, the negative effect on your business would likely outweigh any savings. 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
An improving economy and a more buoyant jobs market naturally makes it harder for employers to hold on to their best people. So, with talent retention a big concern for HR, what can employers and HR do to tie down their top talent?
While no employer wants to keep an unhappy member of staff or someone that desperately wants a new challenge elsewhere, I suspect that a high number of those saying they intend to move jobs in 2015 don’t fall into either of those camps. These are the people who we can and should be trying to reach.
But what can be done to prevent to prevent your talented people from having their head turned by a job offer? Continue reading
Social media seems to have taken over the world. If you’ve looked into new strategies for driving attention to your brand, you’re probably well aware of this. You’ve also likely learned that your website is critical for providing information about your brand and promoting certain actions. Lately, a new trend has emerged, a trend that combines the appeal of social networks with the important foundation laid by websites: user-generated content. Continue reading
Whilst working as self employed you are bound to incur expenses that are required for the running of your business. These can then be offset against your revenue to reduce your overall tax liability.
You never want to pay more tax than you need to, so it makes sense to claim for all the expenses that you can. Just remember that an expense has to be ‘wholly and exclusively’ for business purposes, so you can’t claim your weekly food shop.
To give you an idea of what you can claim, here is a comprehensive list of expenses for the self employed. Continue reading
Recently we’ve started exploring an often over-looked sector of American small business – franchises. Franchising is a major part of our economy, accounting for 4-5% of the country’s GDP, according to the IFA. It’s also a great way for people to be their own boss and open a business, without having to start from scratch. A misconception amongst would-be franchisors, however, is that they’ll get everything they need from the main-office. While that’s partly true, there are a lot of ways MyCorp can help franchisors.
We act as another level of support
When you buy into a franchise, you usually get three things from the head office – a right to use its name, access to its system of success, and some assistance when you first start out. Continue reading
When you first started your business, you probably thought that you’d be able to go on a long vacation whenever you would want to. Fast forward to the present and you now know better! As captain of the ship, it’s not all fun and games; there is a lot riding on you.
But just because you’re in charge of a company doesn’t mean you can’t take a break from work. Disconnecting from all the mayhem once in a while will do you good.
A vacation will help you relax and get more creative. It will also boost your productivity. And if you’re in luck, you might find the opportunity to get in touch with fellow entrepreneurs or other inspiring people. Continue reading
If you don’t have a blog on your business site as of yet, you’ve already been left in the dust. The good news is that you can still recover pretty quickly if you take some proactive steps right now. Why is a blog important? Because search engines are now tracking the content of blogs and basing rankings on the quality and quantity of blog posts initiated on business sites! Having a business blog is just part of the equation if you hope to grow your business! Continue reading
Hopefully your business has a backup plan in case of emergencies, power outages, and natural disasters. Having a standby generator is a great way to ensure that your business is operational, and any refrigerated or power-sensitive products you may have are safe. However like any major equipment, power generators require regular maintenance, even (or especially!) if they are only used once or twice a year. Continue reading
There’s no let up in small business, is there? There’s barely a pause between the end of one year and the beginning of the next. As a new year begins, it’s tempting to just keep running, doing the same things all over again. However, it’s critical to stop and reflect on last year and what you want to achieve this year. There are a number of areas you’ll find useful to focus on when planning for the year ahead as a small business owner. Continue reading