Bill Wortman
As the Chief Business Consultant at BizCoachingOnDemand.com, Bill has over 40 years of business experience. He's held multiple executive-level positions and fulfilled the role of CFO at large, publicly-held (NYSE, NASDAQA, and AMEX) corporations. In addition, he's also been an owner of several successful private ventures in real estate and in the automotive industry.
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How do I set up an internship program for students to receive credit for school and gain the experience they need before entering the actual work place?
Workers engaged as interns can be paid or unpaid, but our response assumes that your question refers to engaging workers as unpaid interns. In order to engage workers as unpaid interns rather than employees, a business generally has to establish an internship program that takes advantage of the trainee exception to the minimum wage and overtime requirements under the Federal Fair Labor Standards Act, or FLSA, which isn’t possible for every small business.
What are the requirements for independent contractors (1099 workers)?
Independent contractors pay their own payroll taxes and insurances, including workers’ compensation, and are not covered by many labor laws, so the financial and administrative benefits of having a workforce composed of independent contractors can be significant.
Can you recommend or help finding a software application that supports business card scanning?
We do not have a specific recommendation to a business card scanning software program for your business; however, there are a variety of business card scanning software programs on the market that work well.
What should I do with an inactive business?
If you do not plan to focus any efforts on the technology company’s business and it is not generating any residual or ongoing income, then we would agree with you that you should dispose of this company to eliminate the tax and regulatory filings and other administrative costs of maintaining the inactive corporation.
Why should a business owner use a Commercial Tenant Representation Broker to help them locate & negotiate commercial space?
We do not know if you are currently under a commercial lease agreement or your experience with analyzing and negotiating commercial leases, which may affect your decision; however, you can review industry articles and suggestions on Commercial Tenant Representation Broker services at several websites…
How soon can I start using a trademark?
How can I do a background check on an individual, to see if they have a criminal record?
We assume that you are an employer seeking to do a background check on an employment applicant and we have provided information, considerations, and resources below. However, if you want to do a general criminal background check on an individual, you can use state and other online resources like the following examples…
Would our home owners insurance cover the entire inventory for our home-based business, or do we need additional insurance?
In our experience, it is unlikely that your existing homeowner’s insurance policy covers any of your business assets or liabilities, particularly significant amounts. You would have to consult your homeowner’s insurance agent to determine if your business assets are currently covered under homeowner’s policy or if they can be covered with a form of policy Addendum or Rider.
How can I track the performance of ads in publications?
Some forms of advertising lend themselves to a manual compilation of the customer usage and ROI calculations, for example: coupons, specific products, or price points. Also, customer surveys and direct inquiries (“how did you hear about us?”) methods are used.
What form do I need to file to let the IRS know 1) ownership of the company has changed and 2) the EIN is either transferred or no longer used?
Business sale considerations: Even if your LLC is no longer operating, you cannot transfer the ownership of your LLC and its legal name from yourself to the buyer by completing a form that you submit to the state or federal government. The paperwork required to transfer ownership of your LLC to the buyer and the state and federal notification process (when required) will depend on your specific sale transaction. Also, the tax status of the LLC will impact the process.