Hiring your first employee is an exciting time for your company. Your daily duties have expanded and you need to hire someone to take over some of the responsibility. Before you interview and find the person you want to bring into your company, you need to understand the legal requirements for hiring and maintaining employees.
The trend of big data has led to the rise of social media platforms handing their consumers analytics on their presence online. LinkedIn is no different. As a small business, understanding your page’s analytics is vital to its success as it gives you a great amount of information on your target audience’s preferences. But with all analytics, there are some key figures and terms to monitor that give the most insight into your successes and failures.
LinkedIn is a very effective medium to increase customer acquisition, especially in the Business to Business market. But with the different types of advertising, the bidding payment system, and a plethora of targeting opportunities, the advertisement choices on the platform can be a tad difficult to navigate. The key to understanding LinkedIn paid advertising is to know a great deal about your target audience.
With the heat comes a new wave of employment options. We gathered statistics regarding the different trends and costs of employment in the summer in our new latest infographic, “Our Guide to Summer Employment”. Learn about the different perks and struggles employees face in the the warmer weather!
The core of your LinkedIn success comes from your profile. Without a reputable and strong presence, it is virtually impossible to gain real traction on the website. But where do you start? Your company’s LinkedIn page will be different from any other social media outlet, and your personal and company profiles require different approaches.
All businesses pay a federal income tax, whether its as its own entity or through the income tax of the owner. But, sales tax is a completely different story. Sales tax is determined by each individual state and the requirements for multiple state businesses are often complicated. Those requirements get further complex when you are an online business as you may not have any physical presence in the state itself. Whether or not your online business has to pay sales tax all depends on the states’ definition of one word: nexus.
If you have ever watched the TV show, Shark Tank, you know just how aloof business evaluations can be. The mere fact that a valuation can be negotiated shows just how much subjectivity business evaluations hold. But regardless of how you come up with the number, the valuation of your business is vital. The value of your business can help you determine your company’s financial and competitive standing. For larger public corporations, a valuation is typically created through the stock price. What about private corporations? There are three easy ways to find the value of your business regardless of size.
One of the first steps to creating your own business is picking your name. You can change your name in the future, but almost every entrepreneur is set on getting it right the first time. Maintaining your business name can significantly help your brand consistency. Whether it’s your first business or one of many, you’ve probably spent a bit of time thinking of the perfect name, and have inevitably asked – what some common business name mistakes to avoid during this important choice? (more…)
The IRS, nearly every state tax agency, and even some cities require employers to withhold a certain amount from their employee’s paychecks to cover income tax, social security, and medicare obligations. These are payroll taxes, and it’s your responsibility, as a small business owner, to collect and send them in. The amount varies from state to state, and in some cases city to city, but there are three main steps to collection.
Everyone you hire fills out a W-4, which gives you some basic information like family size and other deductions. (more…)
Payroll may seem like a straightforward topic, but there is a lot more to it than just tracking hours and cutting checks. Unfortunately a lot of small business owners don’t realize that and, before they know it, they’re up to their ears in tax forms and reports they’ve never even heard of. Calculating, and staying on top, of payroll can actually be pretty complicated, especially if you don’t have a background in accounting. So what do small business owners absolutely need to know about setting up a payroll system?
You must withhold taxes
The federal, state, and local governments can all levy tax on income, and it is your responsibility as an employer to withhold the necessary amounts from your employee’s paychecks and send that into the proper agency. (more…)