FeaturesWhen you think of Iceland you probably think of the unpronounceable volcanic eruption earlier this year that grounded flights across nothern Europe for days. You may think of Bjork, or Vikings. You probably don't think about a carbon neutral certified bottled water company, or that 96 percent of all of Iceland's post-consumer cans, plastics and glass bottles are recycled.
How does depreciation work on business equipment? Depreciation is the government's way of rewarding your business for using increasingly cruddy stuff. Somehow, that makes sense.
Articles & AdviceWhen should you consider getting work space away from home? There are tremendous benefits to working from home. The commute is easy. The office environment is comfortable. Getting home for lunch isn’t usually a problem. But the tax code and local zoning codes can punish home businesses. Read on for an explanation.
What do you really need to know about insurance? First, you need it. Entrepreneurship is enough of a gamble, without risking your business, your reputation or your freedom because you didn't want to pay for insurance. That said, some insurance you need, and some you don't.
How do you find suppliers? Here are some places to start looking.
What do you really need to know about exporting your stuff to other countries? Learn to work weird hours and to spend some quality time with your voice mail system.
Should you lease or buy equipment? This sounds like a complicated business decision. It’s not. It’s a math problem. But this might be an interesting emotional decision, because the answer depends on how much you think you can use a dollar in your business right now.
Tax credits vary from state to state, and from industry to industry. Do you know when to involve your CPA or tax preparation vendor? When do you involve your HR people? It's easy to make sure you're claiming as many of the credits your company qualifies for--hire a professional.
The WOTC tax credit can save you up to $9000 per year for each qualified new hire you make. So why aren't you taking advantage of it? Here's a few things to consider when you decide whether you want to manage it internally or outsource it.
What should you consider when looking for a tax credit services provider. There is no substitute for track record and testimonials. And since there are only a few things that will sink your business faster than a bunch of IRS fines, penalties and liens, your provider's first priority should be to protect your business.
If you hire a lot of new hourly employees each year, it probably makes sense to outsource your tax credit management. But if you only hire a few people, it can be a smarter financial move to handle it yourself--just know that there's a learning curve, and you need to be very organized.
If you're looking for a company to help you maximize the number of tax credits you claim, and minimize your tax burden, here's a few pointers you might think about.
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