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Small Business Cents

What Happens When I Default on a Business Loan?

01-25-2010 01:50 PM

Can't pay back your loans on time? Read on to learn more about the financial repercussions of defaulting and how to make the best of the situation. Read more...

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Save Money Through Energy Efficiency Laws

01-18-2010 12:52 PM

Small businesses can cut more than 25% off of their energy expenses when they follow an energy saving plan. If your business is strapped for cash or you want to minimize costs, try saving energy to save money. Fortunately, the government recognizes the importance of energy efficiency and sustainability and provides small businesses with great incentives to go green. Read on to learn more about how to save money through energy-saving tax credits, grants and other incentives. Read more...

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Export Assistance Loans and Grants Programs

01-13-2010 10:10 AM

Federal and state governments created export assistance financing programs available to small business to help facilitate their expansion into the global marketplace. To raise awareness of these programs, an Export Assistance section was added to Business.gov's Loans and Grants Search Tool. Read more...

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Liquidating Business Assets

01-05-2010 01:34 PM

By liquidating your business, you convert your business assets into cash. Business owners choose to liquidate for various reasons – they can’t find a buyer, their business is not profitable etc. However, if you ultimately choose to liquidate your business assets, there are some best practices to keep in mind in order to ensure that you are not only making the right choice for your business, but also maximizing the benefits of liquidation. Read more...

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The Facts About E-Commerce Taxes

12-30-2009 05:49 PM

For the most part, online businesses are required to comply with the same rules and regulations of traditional small businesses. When it comes to taxes, however, several additional issues come into play. Check out this quick guide to find out what all business owners in the e-commerce world should know. Read more...

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When Avoiding a Tax Audit – the Best Offense is a Good Defense

12-23-2009 10:09 AM

Though less than 1% of taxpayers are selected for a tax audit, business filings that report year-after-year losses, large charitable contributions, or claim large tax deductions may raise red flags for the IRS. Here is some guidance to file your tax return in a way that minimizes your chances of getting audited. Read more...

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A Primer in Taxable Business Income

12-16-2009 03:47 PM

No one says that doing your taxes is easy, but being prepared when tax season comes can make the process less painful. When filing your business income taxes, you must report all income – not just income from the sale of goods, services, or property. For small business owners, taxable income falls into a few major categories. The following list is by no means comprehensive, but it provides an easy-to-read reference on taxable income on your small business. Read more...

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An Intro to LLC Tax Law

12-15-2009 04:14 PM

Tax requirements are constantly changing and different laws and forms apply to different business structures. This quick guide provides information to understand the basics on filing taxes for your LLC. Read more...

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Little-Known - But Important - Credit Card Rules For Merchants

12-09-2009 07:48 PM

Businesses that accept credit and debit cards must comply with privacy laws that aim to protect customer identity. There are regulations that even the most seasoned of merchants aren't always aware of. It's important for merchants, as well as consumers, to be aware of these little known credit card rules to protect themselves and their information. Read more...

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Bootstrapping Your Business - Is It For You?

12-08-2009 03:47 PM

You’ve got a great concept and a solid business plan, but have no money. Sound familiar? If you’re tired of chasing investors or venture capitalists, you can get the ball rolling on your start-up the old-fashioned way by “bootstrapping” your business. Entrepreneurs with very limited capital are finding the funds to startup by reaching into their pockets and pinching together a mixture of credit, loans, and supplemental income. Read more...

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Understanding and Expanding Cash Flow

12-02-2009 04:16 PM

For small businesses, cash is king. You need it to start, operate, and expand your operations, but many small business owners often have trouble managing and maintaining appropriate levels of cash. Read on to learn how understanding your cash flow trends can help you take control of your business finances. Read more...

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The Basics of Revolving Lines of Credit

12-01-2009 05:18 PM

Small business owners usually look towards traditional financing options like loans for help. While loans can be a lifeline, revolving lines of credit may be simpler and more suitable for short-term needs like extra cash flow. Read on to learn about the basics: the "who, what, when, where, why" of revolving lines of credit. Read more...

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Balancing Profits and Customer Service: Tips for Determining Effective Pricing Policy Practices

11-25-2009 11:14 AM

Successful small businesses owners know there is a delicate balance between customer service needs and maximizing profits. In an ideal world, attracting new customers and maintaining existing relationships happens in sync with a rise in profits. In reality, a low pricing strategy may increase customer interest but result in lost revenue, while a high pricing strategy may alienate customers. For help with determining the best pricing plan for your business, read on. Read more...

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Retirement Solutions for Small Businesses

11-24-2009 07:57 PM

Many employers shy away from offering retirement plans out of fear that they're too expensive and confusing to manage. Fortunately for small business owners, if you know what to look for and what's reasonable, there's a good chance you'll find an option that works. Check out this quick guide for a basic understanding of the most popular retirement solutions for small businesses. Read more...

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How to Claim the Tax Deduction for Business Use of Your Home

11-20-2009 11:23 AM

In our earlier post – Do You Run a Business Out of Your Home? You May Qualify for Tax Deductions – we outlined the requirements for claiming the business use of the home tax deduction. Here are the basics on how qualified businesses can file these deductions. Read more...

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A Bank Alternative: FAQs About Credit Unions

11-18-2009 03:53 PM

Banks provide many critical business services - business checking accounts,loans, financial advisors - but credit unions are another provider to consider if you run a small business. If you haven't heard of credit unions beforehand or want to learn more about how you can leverage them in your business,this blog will give you a concise overview of what credit unions are all about. Read more...

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Death and Taxes – Estate Planning and Trust Terms for Your Business

11-17-2009 02:35 PM

Successful owners of family businesses know that it's never too early to start planning for the inevitable transfer of ownership. Although it may not seem logical to plan for succession during the prime of your career, detailed and often confusing tax laws make holding off a poor choice. Read more...

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Do You Run a Business Out of Your Home? You May Qualify for Tax Deductions

11-11-2009 07:51 PM

A simple guide to home office tax deductions, including a requirements checklist. Read more...

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Online Payment Services

11-10-2009 06:42 PM

The rise in popularity of alternative online payment services such as PayPal and Bill Me Later have begun to change how consumers shop online. If you've never used one of these services, the idea may sound confusing but in reality is quite simple. Check out this quick guide to understand what these alternative payment options are, how they're used, who uses them, and if they're realistic options for your small business. Read more...

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Selecting a Small Business Accountant

11-04-2009 09:40 AM

Many small business owners do their finances and taxes on their own, so you may ask: why should I find an accountant? The reason: no matter what stage your small business is in, you can benefit from a having an accountant on your side. Read more...

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Will That Be Cash or Credit?

11-03-2009 01:17 PM

"Cash only" businesses still exist in today's society but are they missing out? Check out this guide to the pros and cons of accepting cash vs. credit. Read more...

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Merchant Accounts – Frequently Asked Questions about Accepting Credit and Debit Card Payments

10-27-2009 06:21 PM

Want to accept credit and debit card payments? You'll need to set up a Merchant Account. Don't know how? Check out this guide for frequently asked questions about Merchant Accounts. Read more...

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Credit and Debit Cards: To Accept or Not to Accept

10-20-2009 09:39 AM

Should your business accept debit and credit cards? What are the costs and benefits? Choosing to accept debit and credit card payments is a big step but often necessary in running a successful business. It is important to be aware of all the benefits, downfalls, and laws that regulate their use. Read more...

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Charitable Giving and the Tax Benefits for Small Businesses

10-13-2009 11:04 AM

Many small businesses participate in charitable giving in one form or another. If your business is considering or has participated in charitable giving, you may be entitled to tax benefits. Read more...

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Paying the Boss: 4 Tips for Setting Your Own Salary

10-06-2009 01:29 PM

As the owner, setting your own salary can be a tricky task, especially in markets that see highs and lows. Here are a few tips to help you successfully "pay the boss"... Read more...

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Considering a Business Credit Card?

09-29-2009 10:14 AM

Many established small business owners agree that using a business credit card - rather than a personal credit card - for business purchases makes good financial sense. Here's a quick guide on what you need to know when applying for a business credit card. Read more...

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Gulf Opportunity Pilot Loan Program

09-25-2009 06:15 PM

Although Hurricanes Katrina and Rita took place several years ago, efforts to provide relief to the devastated communities still continue. In an effort to provide a program beyond the traditional realm of disaster relief, SBA implemented the Gulf Opportunity Pilot Loan Program (GO Loan Pilot). Originally implemented as a temporary program in November 2005, this program was recently extended through September 30, 2010. Read more...

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Business Records – Save Money & Time by Going Paperless

09-22-2009 12:01 PM

In recent times, many business owners have cut costs and improved their operational efficiency by going paperless. If this is something you've considered or have already implemented, check out these this quick guide to going paperless. Read more...

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I Need Money - Where do I get it?

09-15-2009 02:42 PM

Each day, the Loans, Grants, and Taxes forum is filled with posts asking for general help in finding money for small businesses. The type of business and financing need varies, but the bottom line remains the same - business owners need money and they're looking for as much guidance as possible in getting it. Well this week you're in luck because we're dedicating this article making sure you know what we know... Read more...

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Equipment Leasing: Weighing the Pros and Cons

09-08-2009 05:51 PM

Most business owners work to save as much money as possible during the startup of their business. While it may be easy to do without certain luxuries, there are some unavoidable costs that have to be paid one way or another. Acquiring the equipment necessary to run your business is one of those costs. Although leasing is not right for everyone, it is a good alternative to buying equipment, and in some situations it can a be just what your business needs to succeed. Read more...

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