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What You Can Expect With Coupon Marketing in 2013

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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

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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

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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

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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

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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...]

Rebuilding Your Business Credit After a Disaster Like Hurricane Sandy

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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...]

Big changes in estate tax laws take effect next month

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The best way to leave assets, like your business, to heirs before big changes in estate tax laws take effect next month. Take Advantage of Expiring Tax Rules to Benefit Your Heirs Current estate tax laws exempt the first $5.12 million per person (double per couple) in assets from estate taxes. This limit drops to $1 million in 2013. and the tax rate on all assets above that threshold will be taxed at a rate of 55 percent. If you plan to leave your business to your children or other heirs, … [Read more...]

RevoLines of Credit Decline in 2012lving

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Finance expert Mike Periu on the decrease in revolving lines of credit currently available to companies. According to Thomson Reuters LPC, U.S. companies have access to $787 billion in revolving lines of credit. This is down significantly from 2011's $1.28 trillion. The reduction is due in large part to companies holding back on requests for credit lines due to the uncertainty of the now-passed 2012 elections, as well as the looming fiscal cliff. Many companies that have access to the bond … [Read more...]

lessons from small business failures

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Finance expert Mike Periu on how to learn valuable lessons from small business failures. It's far easier to find articles and videos about small business success than it is about failure. Many times, however, there are more valuable lessons to be learned from failure than from success. Small-business owners succeed in different ways but tend to fail for the same reasons. Identifying these reasons and dealing with them can improve your chances of success. Entrepreneurs, who have failed and … [Read more...]

Crowdfunding May Be Delayed by a Year Or More

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Finance expert Mike Periu on expected delays for the implementation of the Jobs Act, a new, easier way for companies to raise money. The JOBS Act which authorizes new, broader and simpler ways for companies to raise money via Crowdfunding will go into effect in 2013. In order for this to happen, the Securities and Exchange Commission, tasked with overseeing the implementation and enforcement of the JOBS Act, must decide on a plan of action by December 31st. It is far from certain that they'll … [Read more...]