Many more people are creating home-based businesses or adding another gig to their repertoire these days. But many of those entrepreneurs do not realize that the same legal requirements apply to them as to any other business. A business attorney can help you make sure your ducks are in a row. Currently, the SBA has nearly 30 million small businesses on record and, believe it or not, most of them are home-based. That equates to nearly
Around 60 small businesses in Colorado have been sued by an out-of-state law firm over alleged violations of the Americans with Disabilities Act. The businesses claim that the New Jersey-based law firm is targeting small-to-medium-sized businesses. The lawsuits claim that the businesses have websites that are not compliant with the ADA. Blanchard Family Winery, which has both a brick-and-mortar location and a website, is one of the businesses named. A suit claims that a blind man
A simpler forgiveness application for Paycheck Protection Program loans of $50,000 or less has been issued by the Small Business Administration (SBA). The prior version of the application had more complex documentation requirements and required several calculations that have now been removed. Instead of the calculations, the new form asks borrowers to confirm that the loan was used for eligible expenses and to provide supporting documentation to prove that these expenses were paid. The borrower must also certify
Businesses across the country have moved many of their professionals into work-from-home arrangements. That has led to some confusion as to who’s liable and whose insurance will pay out in the case of injury or property damage. Generally speaking, if your business has full-time employees who now work from home, your workplace coverage should extend to them at home. Your insurance would also cover any company property they use at home. It should include workers’ compensation
As a small business, once you decide to extend credit to a customer, you now have a financial stake in continuing that relationship even if you suspect there might be trouble brewing. While you don’t want to crack down on a good customer too hard, too soon, you also don’t want to be taken advantage of by a customer who has become unable or unwilling to pay. Here are some ideas to help you manage this
You may recognize the name Bitcoin and maybe even Ethereum, but what about Litecoin, Dogecoin or Ripple? These are just some of the more than 4,500 cryptocurrencies available today. There are hidden tax complications, however, associated with every cryptocurrency transaction. Here’s what you need to know. Every transaction has a tax consequence. The IRS treats cryptocurrency as investment property, like stock, and taxes every transaction as a capital gain or loss. When you pay for something
Tax and financial planning is a year-round proposition. In fact, you can benefit personally from a continuous, 12-month rolling forecast, much like a business does. What is a rolling forecast? Rolling forecasts let you continuously plan with a constant number of periods 12 months into the future. For example, on January 1, you would plan what your financial picture looks like each month through January 1 of the following year. When February 1 rolls around, you
Summer’s almost here, and soon most children will be on their long-awaited summer vacation. If you own or manage a business, have you thought of hiring your children, nieces, or nephews for a summer job? If you do it right, it can be a win-win situation for everyone. The kids will earn some money and gain valuable real-life experience in the workplace while your business will have some extra help during summer months when other staff
It’s an audiobook! It’s a radio show! No, it’s a podcast! Podcasts have taken the world by storm over the past decade. Whether you’re a seasoned podcast consumer or first-time listener, navigating the podcasting landscape can be overwhelming. Here is what you need to know. Podcast basics Its beauty comes from its simplicity – the spoken word recorded and uploaded to the internet. It can be as basic as one person reading the top news stories
Knowing your net worth and understanding how it is changing over time is one of the most important financial concepts that everyone needs to understand. This number is used by banks, mortgage companies, insurance companies and you! Your net worth impacts your credit score, which in turn impacts your interest rates and things as mundane as the amount you pay for auto insurance. A simple definition Net worth is the result of taking all the things
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