June 1, 2020 -- Volume 19, No. 6
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by Barbara Weltman
Whether you want to start up a part-time home-based business or jump in full throttle and work on it full time, you need a start-up guide. A road map! This will help you chart your course to work-from-home success. This Start-Up Guide is broken up into easily digestible chapters that cover the key areas of a new business launch.
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5 Reasons Why Now Is a Great Time to Start a Business
Yes, we’re in a recession. Yes, we’re still under COVID-related restrictions on how businesses must operate. But despite these negative concerns, there are some compelling reasons why now is a great time to begin a new venture.
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Better Concentration: What Works for You?
With so many people currently working from home, focusing on work can be problematic. It’s important to be able to concentrate on work when it needs to get done. There are strategies and tools to help you with this. Some may work for you; others may not. The point is to think about ways to improve your concentration and decide which options are helpful to you.
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Using Software to Help You Make Do with Less
The pandemic has squeezed the resources of many businesses, forcing them to review their budgets and make cutbacks. Nonetheless, they must continue to be efficient and operate effectively in order to survive. In many instances, this challenge can be met with the help of software solutions. If you find yourself in this dilemma, here are some ideas to help you do more with less.
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Working from Home Due to COVID-19: Tax Implications
If you are self-employed and conduct business from home, you may be eligible to take a home office deduction. There are strict tax rules governing eligibility. But stay-at-home orders may allow for a partial year deduction in some cases. This is my educated guess (it’s not tax advice; it’s provided for information purposes only).
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Practical Ideas for Changing Business Operations in a Post-COVID-19 World
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Business as we knew it before COVID-19 will never be the same. Many things are changing in order for companies to operate safely…for their employees and customers. Business models may have to be altered and big changes may be necessary for fiscal survival. But little things may also be required for day-to-day operations.
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5 COVID-19-Related Questions for Your 401(k) Plan
In response to statistics showing that only
53% of workers at companies with fewer than 100 employees were able to participate in a qualified retirement plan, the SECURE Act, which became effective on December 20, 2019, made changes to induce small businesses to offer plans. Toward this end, the new law expanded the existing tax credit for setting up a plan and added another credit for adopting an automatic enrollment plan.
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Preparing for Economic Changes: Forbearance, Deferral, and Forgiveness
The worst of the COVID-19 virus may be behind us from a medical perspective, but economically the pain has just begun. Some states are slowly, very slowly, getting back to work. Others are still under stay-at-home orders. During the initial period of recovery, there are some words to watch for that may be helpful to you if you’re experiencing cash flow problems: forbearance, deferral, and forgiveness.
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Mother's Day 2020: Unlike Any Other
The second Sunday of May is the annual celebration of Mother’s Day. This year, because of stay-at-home orders, mothers with school-age children deserve extra praise. If they’re working mothers, they have to juggle their work and monitor their children’s remote learning.
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Changes in the Charitable Contributions Deduction You Need to Know About
Are charitable contributions tax deductible?
The coronavirus pandemic has brought out the best in many small business owners despite their own financial hardships. Many have generously given to help others in their communities and beyond. They’ve supported causes with cash and other types of donations.
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Yo
ur GPS to Get You Where You Want to Go In Your Business (Kindle Edition)
Do you enjoy driving and being your own boss with flexible work options? Are you looking for a part-time (or full-time) activity that earns good money? Maybe you’ve already discovered that there are great opportunities for making money with your car. Or, you’d like to become a delivery driver driver but uncertain how to begin. This guide, "
The Delivery Driver Tax and Business Guide" is your answer!
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What every self-employed person needs to know about their taxes!
This second edition helps you file your taxes correctly, accurately, and on time.
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An eBook for Ride-Sharing Drivers!
Harvey Bezozi and I created an e-Book for Uber and Lyft drivers as the GPS to help them get where they want to go in their business, safely and securely.
You can find
The Uber/Lyft Drivers Tax & Business Guide
, Kindle Edition, on
Amazon today!
NOTE:
This is an updated version.
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Watch this interview conducted by David Leopold highlighting my book,
J.K. Lasser's
Small Business Taxes 2020,
and hear important small business updates and tips you can use!
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Important Resources
Don't miss out on critical updates outlined in the free online Supplements for both tax books.
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COMING SOON!
A brand NEW eBook for signing up to receive our mailings --
Big Ideas for Recovering and Reimagining Your Small Business -- watch for details.
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