Amounts paid to IT developers or other business service providers in foreign countries are qualified business expenses. Also, if a foreign worker, or firm, does not physically conduct any business activities in the U.S., then you generally would not have U.S. income tax withholding or payroll cost implications.
Ask SmallBizClub
How can I sell one of my restaurants as a franchise?
If you are planning to sell more franchises, then franchising your restaurant concept will be a consideration. However, if you are not planning to expand your restaurant business beyond the two current locations, then a form of partnership or other business structure may be a consideration with your lawyer rather than establishing a franchise system.
What CRM software should we use to help us track our relationships with current clients and prospects?
We have reviewed the capabilities of the Salesforce CRM product and compared those to your stated needs as per your question. This product should certainly meet the needs of your business. We have provided below the various Salesforce pricing and edition options for their CRM software solution as well as a review board for the Salesforce CRM products.
Which Point-of-Sale systems should I purchase for my small operation?
Many companies offer retail POS systems or software that read bar code; however, accounting and inventory control applications must be integrated or linked with any POS system or software, which affects your POS system or software solutions. Also, your accounting and inventory needs and budget will impact the type of POS system you select.
Can we dock employees pay for poor work quality?
As a general rule, the Federal Fair Labor Standards Act, or FLSA, prohibits docking the pay of employees (nonexempt or exempt) for poor quality work or work resulting in rework. Nonexempt employees are employees who are subject to the FLSA’s minimum wage and overtime pay requirements and are typically paid on an hourly basis.
What would be the best payment arrangement to a project manager to assure they are working and not billing us for being on the job and not there?
It is common for construction companies to require project managers and other employees to submit a form of weekly timesheet in order to accurately track labor time, costs, and profitability of each project.
I am looking at buying a franchise-based business, what are the major concerns to look for with owning a franchise company?
Due to the risk and work involved in starting a new business, many new entrepreneurs choose franchising as an alternative to starting a new, independent business from scratch. Also, surveys show that the success rate of franchised businesses is much higher than for businesses started from scratch.
What is the most advantageous way to transition from our existing domain/company name to a new domain/company name?
A business that changes its name can notify the IRS of the name change by following the procedures described at the IRS website below. Provided the name change does not require the business to obtain a new Federal Tax ID number (TIN), also known as a Federal Employer Identification Number or EIN, the IRS will change the business name assigned to the business’ EIN.
What’s the best way to differentiate myself and still be profitable?
In such a competitive business environment, it may be very important that you differentiate yourself from the other locally successful screen printer/embroidery shop in order to capture enough of the market share.
We are looking to purchase a software product, but the current owner is in a foreclosure status. What legal and/or financial issues might we face?
We have provided general business comments and considerations below; however, you will need to consult your lawyer for legal input regarding due diligence, asset liens, purchase contract terms (ownership warranty, liability indemnification, etc), and the other legal issues with your planned software purchase.
