To start a business, you need to be driven, patient, hardworking, and knowledgeable. But it takes more than that to succeed as an entrepreneur. There’s no definite formula for success. However, there are rules that beginning entrepreneurs live by. Here are some essential rules which can guide you through this tough yet rewarding journey. For more finance tips, visit Moneymax. … [Read more...] about News Golden rules for starting a small business
Small business healthcare tax credit
“It was great on paper but we didn’t know if there was really a market for it,” Scarda says. “We learned people were interested, but not interested enough for us to make a business out of it.” Companies of any size can make marketing mistakes – an internet search will reveal gaffes committed by some of the world’s biggest companies, including Coca-Cola’s infamous “New Coke,” a reformulation that bombed in 1985. Mistakes are often the result of not getting enough information about what will sell. But small businesses can be particularly vulnerable to these mistakes – owners have a minimal knowledge of marketing, so they don’t know what the best avenues are for advertising products or services. Those who are aware of the need for market research might shy away from what they fear will be a big expense. Owners can also be so passionate about an idea that they fail to realise there won’t be enough … [Read more...] about Oops! Small businesses are prone to marketing mistakes
AKRON, Ohio — Colin Robertson wonders why he pays federal taxes on the $18,000 a year he makes cleaning carpets, while the tech giant Amazon got a tax rebate. His concerns about a tilted economic playing field recently led Robertson to join the Akron chapter of the Democratic Socialists of America. At a gathering this month, as members discussed Karl Marx and corporate greed over chocolate chip cookies, it was not long before talk turned to income inequality and how the government helps the wealthy avoid taxes. “One of the benefits of taxation is taking it and using it for the collective good,” said Robertson, 25, comparing his minimal income to the roughly $150 billion net worth of Jeff Bezos, Amazon’s chief executive and the world’s richest person. “He could be taxed at 99.9 percent and still have millions left over,” Robertson said, “and I’d be homeless.” It is a topic that several presidential candidates, led by Sens. … [Read more...] about News $0 corporate tax for Amazon, profitable giants sickens US voters
By Lesley-Anne Scorgie Personal Finance Columnist Mon., April 29, 2019 When I first started my career, I wrote a column about why people procrastinate in filing their taxes. I interviewed an accountant whose business thrived in one area of specialization — filing late tax returns for individuals who were behind by at least five years. My research indicated that fear was the main inhibitor for late files. Simply put, tax procrastinators are generally scared that they’ll owe money and won’t have a way to pay it back. That fear breeds disorganization, making the situation far worse, and forces the individual to pay massive fees of many thousands of dollars to specialty accountants, like my interviewee, to clean up the mess. These exorbitant costs can be avoided by filing on time. We’re days away from Canada’s personal tax filing (and paying) deadline, which is April 30, so here’s how to deal with the fear of filing your taxes. … [Read more...] about Don’t let fear hold you back from filing taxes on time
The beautiful, sun-kissed islands of our tourism paradise of the Philippines have the mixed blessings of abundant natural resources, fertile volcanic soil and also lots of natural disasters once in a while, such as earthquakes, volcanoes erupting, typhoons, and others. How can businesses — most especially the numerous micro, small and medium-scale enterprises (SMEs) — be prepared for any natural or manmade disasters? How can small enterprises and professionals survive calamities and accidents? The following is not based just on textbook research or interviews, but I personally suffered a destructive accidental fire in one of my businesses and it was caused by the fire from a next-door neighbor’s business (which had mysteriously been allowed to operate by the fire department without any fire extinguishers, while my staff had to use up to 13 units of 10-kilo and 20-kilo fire extinguishers). Here are suggestions for all of us: Review and be sure to update your … [Read more...] about How can small businesses & professionals prepare for disasters?