What the IRS Does Not Mention About Crowdfunding and Taxes
In Information Letter 2016-0036, released June 24, the IRS explains general rules that might apply to someone’s receipts of funds via a crowdfunding platform. It doesn’t mention any websites, but examples include Kickstarter and GoFundMe….
Wooing a Big Business? Don’t Make This Common Pricing Mistake
If your B2B small business finds itself on a nice growth curve, you will eventually run up against a very common problem: How to sell successfully to very large companies. There are some structural and…
How to Handle Customers Who Send Payments Late
It can be very frustrating when customers are not on time with your payments. Especially when you’re a small business just starting out, cash flow is probably pretty tight, and those payments are crucial for…
Finicky Finances: Make Sure Your Company is Spending Smart
Maintaining good business finances is a necessary part of running any company, but that doesn’t mean doing so is always easy. Many businesses fail to properly manage their money and in a short period of…
Stuck Selling a Commodity? How to Multiply Your Margins
You could order online and send a dozen roses to someone you love for about $20. I just checked. So why would you—or anyone else—pay five to 10 times that much? Before we answer that…
The Small Business Owner’s Guide to Equipment Financing
Whether your business is product or service-based, having the necessary equipment is vital to keeping your venture operating smoothly. Replacing, upgrading or purchasing equipment for the first time can put a serious pinch on your…
Why Every Organization Needs a Budget
Budgets are like oil tankers – they need time to change course. ~Jeroen De Flander In all my years advising businesses, I have seen many that just did not have budgets. These operations ranged from…
What is the Barbell Effect and How Does It Work?
Do you work out with free weights? If you do, where do you grab the barbells? In the middle, right? In business, as in barbells, it’s the middle that gets squeezed and this has given…
How to Manage and Pay Tipped Employees in Restaurants
In the restaurant industry, tips are more than something you’d associate with a homespun tip jar by the cash register—they’re a primary source of income for tipped employees. The catch is tips are also taxable…
6 Reasons You Might Want to Get a Business Loan
The mythical American should be able to start a business purely through a combination of working hard, having the right attitude, and pulling up their bootstraps. Chances are, however, real-world business owners are going to…
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