Small Business Finance Blog

Financial tips and hacks for small business owners

You are here: Home / Archives for small business finance

What You Can Expect With Coupon Marketing in 2013

By

Finance expert Mike Periu on key changes to expect with coupon marketing strategies in 2013. Shashi Bellamkonda, the “Social Media Swami” at Web.com has been following the coupon industry for years and expects several important trends to emerge during 2013 in coupon marketing: More localized deals. The key challenge for the coupon industry in 2013 will be expanding the network of both end users and merchants. Reaching deeper into specific verticals and targeting more local companies will be … [Read more...]

Lower Your State Business Taxes. Liability to Zero

By

Finance expert Mike Periu on how to significantly reduce or eliminate your state business taxes. If your business is located in a state with a high income tax, there are options available to significantly reduce or even eliminate that tax liability. In order to entice businesses to set up or expand operations within their borders, state governments offer income tax credits. Over $10 billion per year in state income tax credits are offered. Many businesses qualify for these credits but don’t … [Read more...]

The Right Way to Deduct Business Use of Your Vehicle

By

Finance expert Mike Periu on best practices  to Deduct Business Use of Your Vehicle Many small-business owners use their personal vehicles for business use. The expenses related to this use are a legitimate business expense and can be deducted on your income taxes. The IRS does, however, require proper documentation and failure to provide it could mean a denial of the deduction in an audit. They require “contemporaneous documentation” relating to expenses and mileage which basically means … [Read more...]

Take These Steps to Ensure a Profitable Exit Strategy

By

Finance expert Mike Periu highlights helpful steps to take to ensure a Profitable Exit Strategy before selling your business. According to the Chamber of Commerce, only 20 percent of small businesses transfer to a new owner successfully. This has important implications for owners who have on average 80 percent of their net worth tied up in their businesses. Marc Tepper, Founder of Strategic Wealth Partners, urges business owners to take these steps before embarking on a sale or transfer of … [Read more...]

Alternative Minimum Tax Nightmare Only Weeks Away

By

Finance expert Mike Periu on the IRS' recent warning to Congress about the need to address the Alternative Minimum Tax issue. Steven T. Miller, Acting Commissioner of the IRS, has warned Congress that failure to address changes in the Alternative Minimum Tax (AMT) that would take place under the fiscal cliff will have devasting consequences for tax filers. The AMT is a second way to calculate your tax liability that limits deductions and ensures that more people pay more income taxes. Its … [Read more...]

New 63 USD Fee Announced to Help Offset Healthcare Reform Cost

By

Finance expert Mike Periu on a New 63 USD Fee that is intended to help offset the costs of implementing Healthcare Reform. As the regulations for Healthcare Reform are formulated and finalized, small-business owners need to be aware of a new fee that will be assessed beginning in 2014. The fee will be collected for 3 years and is set at $63 per insured person in the first year and is supposed to decline after that. The fee is meant to help offset the cost for insurance companies as they comply … [Read more...]

Facebook Post Lands Netflix in Hot Water With the SEC

By

Finance expert Mike Periu on a possible SEC civil suit against Netflix for a social amplification on Facebook that positively affected their stock price On July 3rd, the CEO of Netflix Reed Hastings posted a message on Facebook indicating that users of the online video-streaming service had surpassed 1 billion hours of viewing. The stock price of the company rose 6.2 percent that same day. The SEC apparently wasn't too happy about this. They have sent the company a Wells Notice, which indicates … [Read more...]

U.S. Holiday Sales Fall Flat

By

Finance expert Mike Periu on the low retail numbers for this year's holiday shopping season. U.S. Holiday Sales Retail sales during the holiday season ending December 25th grew at a mediocre 0.7 percent compared to the same period last year, according to MasterCard Advisors SpendingPulse, the data tracking and analysis division of MasterCard. This is one-third of the the growth rate experienced in 2011 which was in itself a disappointing year. Some analysts believe that retailers should be … [Read more...]

5 Cash Flow Mistakes New Businesses Must Avoid

By

Finance expert Mike Periu on the most common Cash Flow Mistakes small businesses make, and how to avoid them. December 04, 2012 Debt solutions attorney Emily Chase Smith has seen many small businesses fail throughout her career. She finds it frustrating that many of the businesses, especially newer ones, fail for reasons that were completely avoidable with better financial planning on the part of the founders. She offers the following advice to business owners to avoid failure: 1. Don't … [Read more...]

Rebuilding Your Business Credit After a Disaster Like Hurricane Sandy

By

Finance expert Mike Periu on how businesses can minimize damage to their credit score after a disaster like Hurricane Sandy. Even though Hurricane Sandy doesn't dominate the headlines anymore, small businesses in the affected regions are only just beginning the long road to recovery. Among the casualties are small business credit scores as invoices go unpaid and bills pile up creating a short-term cash crunch. To minimize the damage to your score, it's important to first notify all of your … [Read more...]