The payoff of creating a Simplified Employee Pension plan, or any other retirement plan, can be huge for a small business. The main advantage is that it is a major tax deduction. For example, an employer can deduct up to 25 percent of an employee’s compensation, or up to $42,000 in the 2005 tax year. SEPs have other advantages. They…
I have come across many business owners complaining about the futility of the ads for their range of products. I have compiled a list of sins committed by the advertisers. Here is the list – 1. Non-targeted ads – your ad should be targeted towards a group of visitors interested in your product. Don’t create an ad for masses. 2. Long…
In an recent Business Week article, small business owners were reminded of a change in the Internal Revenue Code, effective in 2004, which allows companies to deduct $5,000 of their startup costs. Any expenses above that amount must be amortized, or depreciated, over the next 15 years. The Section 195 deduction and the intent of Congress was that it be…
Microsoft is lowering the threshold for software purchases that the company will help finance. Under the new program customers can get 36-month loans on purchases as low as $3,000. Previously, the minimum transaction was $10,000. Microsoft also unveiled an expanded pact with Best Buy. As part of that deal, the electronics store will carry Microsoft Point of Sale, which is…
Definition of marketing has not changed over the years. It has remained the same what it was 50 years back. It is still the same ‘commercial functions involved in transferring the goods from the producer to the end user’. What has changed over the years the way it is implemented. It used to be very simple earlier – competition was…
The U.S. Small Business Administration has approved $6 billion in low-interest, taxpayer-backed disaster loans to homeowners, renters and businesses affected by last year’s devastating Gulf Coast hurricanes. To date, more than 86,200 hurricane victims have been approved for SBA disaster loans. Of those, more than 16,100 disaster loans have been approved to businesses for more than $1.4 billion. The original…
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