Tim Smith is the owner of WorkerRental.com based in Amherst, Ohio. WorkerRental works as a hub for Self-Employed residential workers. The goal of WorkerRental is to connect self-employed small business owners who provide services that typically are needed around the house to homeowners who need those services. By cutting out large businesses, Tim hopes that the relationships built by those who use the site will help prove the value of small personalized business solutions.
Posted on
Oct 31, 2016
Q: My wife and I own a limited liability corporation. We just elected to be treated as an s corporation. We are trying to determine salary levels, and I read something about how the owner’s salary must be greater than employee’s for s corporations to minimize the chance of an IRS audit. What criteria should we use to establish our salaries?
Posted on
Oct 31, 2016
Tony Albano works as a comedy magician in South Florida, but he’s not finding much to laugh about as his Obamacare health plan pulls a disappearing act for 2017.
His current plan goes away in two months because insurer Coventry and parent Aetna Inc. are fleeing public exchanges, claiming losses are too high. That leaves him scrambling to figure out what to do next as open enrollment begins Nov. 1.
Posted on
Oct 27, 2016
For all accounts 2016 has turned into a once in a lifetime election that has thrown wide open not just which party will lead the White House, but what party will control the Senate and House. The safe assumption for many political observers in the midst of the primary calendar is that the House would remain safe in Republican hands and that the Republican majority in the Senate while possibly being chipped away ever so slightly, would remain in Republican control and that the fight for the White House would be the main event on November 8, 2016. It is safe to say that any pre-conceived notions or assumptions have been tossed out the window in what has become an eyebrow raising political cycle.
Posted on
Oct 26, 2016
With news from the Obama Administration that the silver-level plan insurance premiums in the Affordable Care Act (ACA) will rise by 25 percent next year, the National Association for the Self-Employed (NASE), the nation’s leading advocate and resource for self-employed and micro-businesses, today released the following statement rebuking the announcement.
Posted on
Oct 25, 2016
Surging costs for health insurance have gotten the attention of the National Association for the Self Employed (NASE). The group added its voice Tuesday to the chorus criticizing the Obama administration and the Affordable Care Act.
The new wave of criticism comes as the administration announced that premiums for mid-range-silver plans would rise by an average of 25 percent. Those on the act’s exchange program will also have less options than in the past as some companies have dropped out of the program.
Posted on
Oct 25, 2016
Today the NASE threw its full support in favor of new efforts in the Senate to phase-in the DOL's new salary threshold. S. 3464, the Overtime Reform and Review Act. Introduced by Chairman of the HELP Committee, Senator Alexander (R-TN) and co-sponsored by Senators Scott (R-SC), Lankford (R-OK), and Flake (R-AZ).
Posted on
Oct 06, 2016
A few months ago, we had the opportunity to meet with Colorado women who own successful small businesses in El Paso County. Small businesses, the drivers of our economy, make up almost 98 percent of employers in Colorado. One study ranked Colorado Springs as the best city for women-owned business in the state. Another study placed Boulder, Fort Collins and Denver on a top ten list of cities in the country for business owners. We are proud of Colorado's status as an ideal place to start and grow a small business, but we also heard first-hand from these women and entrepreneurs across the state about the challenges they face. While they are working to create jobs and build our innovation economy, it's Congress's job to make sure that both owners and their employees have access to the resources they need to succeed.
Posted on
Oct 03, 2016
Buying a business provides a tremendous money making opportunity because it combines six factors that make it far superior to any other form of investment.
These six factors are:
- Appreciation
- Leverage
- Depreciation
- Amortization
- Conversion
- Cash Flow
Let us analyze each of these from the view of the business owner.
Posted on
Sep 29, 2016
Q: I am working on filing my extended tax return that is due in October and I discovered a number of payments that I did not include on last year’s tax return. Can I just include those on the next year’s return or have I lost the benefit of those items? A: The easy answer is ‘No’ to both questions. It would not be appropriate to include payments made in a prior year on the current year’s income tax return, but the good news is that does not mean you have lost the benefit.
Posted on
Sep 29, 2016