Pessimism looms large California Small-Business Owners. That may be good news. Nearly one in four small business owners in California don’t expect to be in business there in three years. The dismal findings of the Small Business California study echo recent research published by the National Federation of Independent Business (NFIB), Pepperdine University and Dun and Bradstreet Credibility Corp. These other studies also point to widespread pessimism among small business owners about future … [Read more...]
Rookie Millionaries: Why You Might be Luckier than $338M Powerball Winner
The Powerball Winner Pedro Quezada just landed a $330+ million windfall. Can he handle it? Pedro Quezada, owner of a bodega in Northern New Jersey will have to start worrying about number with many more zeroes at the end. The small-business owner won last night’s Powerball lottery worth an estimated $338 million which represents approximately $150 million in lump-sum after-tax cash. That is an almost unfathomable amount of money and more so for a bodega owner. In my experience, most bodega … [Read more...]
3 Ways to Outsmart Financial Scammers
Financial scam arists rely on one thing to succeed and it isn't lack of financial knowledge. For someone to fall victim to a financial fraud, most people assume that a lack of financial literacy is the cause. But in a study co-sponsored by FINRA, it turns out that victims of financial fraud tend to have more financial knowledge than the general public. These victims were indeed illiterate in the art of persuasion. In an interview of Doug Shedel author of “Outsmarting the Scam Artist," it's … [Read more...]
Get Your Share Of $80 Billion In Small Business Government Contracts
Uncle Sam bought over $80 billion in products and services from small businesses last year in Government Contracts. Which door should you knock on to get your piece? According to data recently released in the Federal Procurement Data System (FPDS), federal government agencies award over $83 billion in small business contracts during 2012. This represents approximately 22 percent of the $376 billion in contracts for which small businesses were eligible. This is very close to the 23 percent which … [Read more...]
Small Business Tax Credit: Is Your Company Giving Up Free Money?
Is the new small-business tax credit too complex to calculate and worth too little to claim? It isn’t often that a business owner will turn down a tax credit, but that’s exactly what’s happening with the Tax Credit for Employee Health Insurance Expenses of Small Employers, a key part of the Affordable Care Act, otherwise known as Obamacare. Many small-business owners have concluded that the credit isn’t worth enough money to justify the effort required to claim it. According to the most recent … [Read more...]
Virtual Money, the Bitcoin Joins the Currency Big Leagues
Forget the dollar or euro. It's time to get paid in Bitcoin. Virtual money isn’t issued by any government; its value isn't controlled by any central bank. Instead, private companies or nonprofit organizations issue electronic codes that carry a value, and a market of buyers and sellers around the world sets the price relative to real currencies, like the dollar and euro. Over the last 15 years, virtual money has been playing an ever-increasing role in web-based transactions, accounting for … [Read more...]
How Does a Permanent $250,000 Small-Business Tax Deduction Sound?
Uncle Sam bought over $80 billion in products and services from small businesses last year. Which door should you knock on to get Small-Business Tax Deduction? According to data recently released in the Federal Procurement Data System (FPDS), federal government agencies award over $83 billion in small business contracts during 2012. This represents approximately 22 percent of the $376 billion in contracts for which small businesses were eligible. This is very close to the 23 percent which has … [Read more...]
Massive SBA Loan Fraudster Pleads Guilty
Joon Park promised to help small businesses obtain SBA-backed loans. Instead he scammed banks and his clients. SBA Loan Fraudster Pleads Guilty Small-business owners have to work very hard to secure financing for their businesses. It is extremely disappointing when people who claim to help small businesses obtain loans turn out to be nothing more than scam artists. One such person, Joon Park, owner of Jade Capital & Investments, LLC, plead guilty to conspiracy to commit bank fraud … [Read more...]
Is The Tiny Island Of Cyprus About To Spark A Global Financial Crisis?
Cyprus is on the verge of financial meltdown. It may take Europe and Russia with it. It's time to stop looking at the Dow Jones Industrial Average’s stellar comeback and start looking at what’s happening in Europe: there's a crisis happening in Cyprus that could have global repercussions. The tiny island-nation (with a population of just over 1 million people) is a full-fledged member of the European Union and the Eurozone, so its currency is the Euro. Like Greece, Portugal and Spain, it is one … [Read more...]
When Having Too Much Cash Is a Huge Problem
Big companies have stashed away $1.5 trillion in cash. This isn't good; it's actually really bad. Here's why Having Too Much Cash Is a Huge Problem U.S. companies, especially large technology companies, have a huge problem: their balance sheets are jam-packed with cash—massive mountains of cash that add up to nearly $1.5 trillion nationwide. Large companies started out 2012 putting cash to use via acquisitions and share buybacks, but they slowed down this activity toward the end of the year. … [Read more...]
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