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January 23, 2011

Small Business Health Insurance Quotes – 3 Simple Tips To Saving Money On Health Insurance

Filed under: Small Business Tips — Tags: Business, Health, Insurance, Money, Quotes, Saving, Simple, Small, Tips — admin @ 9:09 am

Small Business Health Insurance Quotes – 3 Simple Tips To Saving Money On Health Insurance

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Home Page > Finance > Insurance > Small Business Health Insurance Quotes – 3 Simple Tips To Saving Money On Health Insurance

Small Business Health Insurance Quotes – 3 Simple Tips To Saving Money On Health Insurance

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Posted: Mar 30, 2010 |

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As a small business trying to establish a positive cash-flow and make ends meet at the end of the month, health insurance costs are probably one of the major financial burdens you carry and where ends just don’t meet. Thus, to help you in your journey to stop the bleeding and increase the savings, here are 3 tips you can use to lower your health insurance costs.

Tip # 1 – Group Plans

If you’re a small business trying to provide affordable quality health insurance to its employees, getting a group plan can almost always provide you with lower premiums as well as other benefits, such as, being accepted as a group and not as an individual. This can eliminate the preexisting concision problem and may even allow you to obtain other discounts and benefits that would not be available to individuals.

Tip # 2 – Tax Deductions

Operating a small business that provides health insurance to its employees can also allow you to claim certain tax deductions which can help to alleviate some of that financial burden. For example, if you provide a qualifying insurance plan to your employees, you can generally deduct the complete cost of your monthly premiums. There may be other healthcare tax deductions you may not be aware of and that can probably save you significant amounts of money. All it takes to benefit from these unknown tax deductions is a little research and some due diligence.

Tip # 3 – Shop Around

One of the most effective money saving ideas you can apply, as a small business owner, is to shop around before you buy. By simply getting a few small business health insurance quotes from some of the top insurance providers, you can almost always get a better rate. It’s fast, easy, free, and best of all, can add much more to your bottom line.

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Jimmy R. Smith -
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See If You Can Save: Get your Small Business Health Insurance Quote from top insurance providers for FREE! You can do it all with the simple click of a button: http://www.free-health-insurance-quotes.weebly.com

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I’m looking at the diferent ways of saving money. how can i save money or in what ways will i be saving money with a general insurance policy or company?
If a small business employer (say 4 employees) offers insurance are they required to offer family coverage also?
Hi there we have opened a small business in ontario and need more money for inventory and advertising are we eligable for anything like this?

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small business health insurance quotes, health insurance quotes for small business, health insurance quotes, health insurance

January 15, 2011

Top 5 Amazingly Simple Small Business Tax Tips That Every Freelancer Ought To Know

Filed under: Small Business Tips — Tags: Amazingly, Business, Every, Freelancer, Know, Ought, Simple, Small, Tips — admin @ 9:28 pm

Top 5 Amazingly Simple Small Business Tax Tips That Every Freelancer Ought To Know

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Top 5 Amazingly Simple Small Business Tax Tips That Every Freelancer Ought To Know

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Posted: Feb 18, 2010 |Comments: 0
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Ever since the economic recession hurt the world, people have been turning to working freelance online. And that’s why I’m writing this article for the new small business owners.

In this article, I’m going to be discussing a few vital small business tax saving tips therefore that you simply won’t go crazy filing your taxes at the end of the year. So here are the five tips you would like to be aware of.

1. Separate your personal and business expenses

Currently that you simply are a business owner, you ought to perceive that you are spending money for various reasons. It’d be a record keeping nightmare to co-mingle your personal and your business expenses and income. The easiest manner to try to do this is often to use separate checking accounts and credit cards, one for business and one for personal.

2. Keep track of each of your receipts

If you are new to small business taxes, you may not know that expenses is tax deductible. When you are in doubt, save your receipts in a very safe and simple to recollect place, thus that you can raise your tax preparer for his advice when year end comes.

3. Realize by yourself the tax deductible items

If you’ve got a heap of business expenses, you could end up with tons of receipts. Instead of stashing them all, it might be easier if you knew earlier which expenses were deductible and then save solely those receipts. There is tons of free information about this online.

4. Founded a system for fast bookkeeping

McDonalds did not become an enormous fast food franchise without a system. If you want to keep yourself sane and file your taxes as painlessly as possible, consider fitting a system to prepare your paperwork. Schedule a time each month where you key in invoices into your bookkeeping software.

5. Get a six-month Extension on your tax filing deadline

Have you ever seen anyone smile when the deadline for tax filing gets nearer and nearer? I’m sure you don’t wish to be pulling your hair when the deadline may be a few days away. To make matters worse, that’s the just once of year that tax professionals are least offered for answering your questions. Need an easy resolution? If you file IRS Form 4868 you’ll get an automatic six-month extension and your NEW tax-filing deadline can be Oct. fifteen, not April 15.

In conclusion, if you perceive these basic tips of small business taxes and apply them, you’ll stay sane whereas doing your tax filings.

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Get a free video at www.HomeBusinessTaxSavings.com that explains many of the small business tax secrets. Logon to the website and get free tips.

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Where can I take a class tolearn about buying a business? A franchise or small business…so I don’t make any errors when investing my lifetime savings?
Which Online Project management Software is good for small business entrepreneurs?
I am buying a small business and my solicitor is insisting that i have an asbestos report but the vendors solicitors say it is not needed as the building is too small

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August 26, 2010

How to Find the Best Small Business Marketing Ideas With 6 Simple Steps

Filed under: Small Business Tips — Tags: Best, Business, Find, Ideas, Marketing, Simple, Small, Steps — admin @ 9:11 am

Did you see a new marketing method recently either at your home, or maybe online? Maybe you learned something you never thought to do, and you’re dying to give it a try? Or did you speak to your friend, who told you about his friend who used this new and totally ‘fail-safe’ approach to marketing that made him thousands of dollars in a day? Why is it that you can never MEET this ‘friend’?

It’s a tough thing not to pay attention to those few people who make a lot of noise. They talk about ideas that promise big returns with almost no work, in almost no time. It sounds great, but unfortunately, as you know more often than than not those big dreamy techniques provide little more than deflated results, and a deflated wallet.

You see those big promises in certain markets especially. There’s some new marketing technique that nobody has ever heard of, and supposedly it gives you such a big return because of this new angle that you and others like you are doing everything in your power not to just sign up and fork over the cash right then and there! But this can be dangerous to your bottom line or even your entire business.

Whenever you try out a new marketing idea, it’s important to proceed with caution.

Here are The Select 7 Marketing Tips:

1. Not broken? Don’t fix it.
If you’ve been in business. You’ve been making money and bringing clients to yourself using your own methods of marketing. Don’t just stop everything and throw it all away if you read something new. It sounds crazy but people actually trash their entire marketing plan if they get caught up in big money promises.
Trying to augment it, or improve upon it is fine, but abandoning it altogether is insane.

2. It’s OK to be Testy.
Instead of total abandonment, test out your new ideas on a small percentage of the customers or prospects on your mailing list. About 10% will suffice. Study how that small portion responds, and then you can introduce the idea into more and more of your marketing as long as it proves to you that it’s working. Test on some, see if it works, apply it to more. Repeat this process continuously.

3. Measure your results in order to determine what works best.
There’s no reason to try something new if you’re not able to see what works.
For example, I recently tested a different approach on a page of my website that is solely dedicated to generating subscriptions for my newsletter. To see if the new copy worked, I sent prospects coming from one online source to the new page and tested the old version of copy against the new. I then tweaked the version that worked best until I found a balance that got the best response from my target audience of small business owners.

4. Marketing is NOT Magic.
Just as there’s no magic bullet in medicine. There’s no magic bullet in marketing. People spend money developing, and customizing ideas to their specific budgets, markets, and industries. That’s probably how you developed your own marketing plan. A marketing plan is developed over time. That’s how it becomes a solid, successful, proven approach. It’s a common marketing statistic that a potential customer will need to see or hear your ad up to 7 times before it starts to have an effect, so keep that in mind while you’re waiting for responses. When you start trying out new ideas, don’t set unrealistic goals to see a return. Good Marketing takes time, but as you know, when it’s done well, IT WORKS!

5. Resist Big Money Claims
All too often I run into prospects who come to me with testimonials they found on some new marketing, business, or ‘guru’ site. They’re so eager to join because of how GOOD the testimonials sound. ‘I made Millions overnight’! It’s a big claim, and it gets attention.

Now I’m not saying that those testimonials aren’t as real and true as they’re depicted. I have no way of knowing, and unfortunately, neither does anyone else who visits the website. Usually though, you don’t go into a law office and see a testimonial of some guy’s face screaming: ‘We made millions!’. Instead you’ll see plaques on the walls from professional institutions, which can be verified,or you’ll see news clippings from big name cases, which can also be verified. Either way, it’s important to remember that although many people make millions every week around the world, the VAST majority of people don’t, no matter what field it is.

That doesn’t mean you won’t be a millionaire, it simply means, don’t rush to join a site just because you see a picture and the phrase: ‘I did it!’. Do your homework, and be smart.

6. Have a New Idea? Try it, but …
DON’T stop the marketing that has gotten you results over time. Start small by introducing only using 10% of your marketing resources to this new venture. The other 90% should be left alone. When you start changing things, you want to make small moves because large ones can cause destabilization. Many business owners have unfortunately lost huge sums of money because they didn’t just ‘try out’ a new marketing technique. They learned some new method and then through out EVERYTHING they had been doing for this new ‘Magic Technique’. There’s no reason to take away your safety net. Start small, and you won’t miss the next big idea, but you won’t be left behind either. Prudence pays.

7. Step Away, Come back.
Very simple. Don’t rush.

It’s definitely easier said than done. The fact is that reading about quick money, and big success is a huge temptation! It seems like everyone on this site, or in this book became a millionaire! Right? Your blood starts pumping. It’s tough not to sign up right then and there. But don’t. The precise reason ‘businesses’ use those blood-rushing stories and words is so you will make your decision from that emotionally-based feeling place, rather than a calm, attentive, intellectual-based place. It’s tough, though, isn’t it? Especially once you get started, so the important thing to do is give yourself some time.

Is it difficult to do? Yes. But when you’re talking about business, when you’re talking about money, when you’re talking about your livelihood, you owe it to yourself and your family to make a smart, educated, calculated decision. So let a few days pass, even 2 or 3 will do. It’ll still be there. Do a bit of research and then make your choice.

Recap:
In any business, changing your marketing methods will not only be important to stay on top of new techniques, it’s VITAL that you alter things as the economy, prices, and our culture changes. You’re always going to be learning, but when you implement new concepts, be safe – protect your business. Do your homework, and talk to people you KNOW are successful. Make small changes and go with the ones that experience shows you are working. That’s the only true way to build a solid marketing portfolio.

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May 26, 2010

Another Simple Tactic For Increasing Your Customer Base and Growing Your Small Business

Filed under: Small Business Tips — Tags: Another, Base, Brief Description, Budgets, Business, Business Cards, Business Entrepreneurs, Customer, Customer Base, Customer Referrals, Customer Testimonials, Fill In The Blanks, Free Marketing Tools, Growing, Habit, Increasing, Jot Down, Marketing Methods, Radio Spot, Refund Requests, Remorse, Shoestring Budget, Simple, Small, Small Businesses, Tactic, Testimonial, Traditional Marketing — admin @ 9:21 am

Entrepreneurs often find it difficult to grow their small businesses. They struggle with the effort and expense involved in traditional marketing methods, and the limited budgets they have to work with. However, there are four extremely powerful and practically free marketing tools that we all have at our disposal, but we often over look.

Let’s take a look at one of the easiest techniques for growing a small business on a shoestring budget:

Take Advantage Of Customer Testimonials

The next best thing to customer referrals is customer testimonials. Testimonials help put your customers at ease. They break down doubt and buying resistance. Plus, the customer who gave the testimonial becomes more loyal (just like the customer who gave a referral).

We all know that testimonials are extremely powerful, but it still amazes me how few small businesses actually use them. Every single bit of marketing you do should include customer testimonials. Every sales letter, every display ad, every radio spot. Even your brochures and business cards will be more effective if they contain testimonials. So, from here on out, get in the habit of including testimonials on everything!

What’s that you said? You don’t have any testimonials? Well, start collecting them NOW by using the following tips:

1. Create a mechanism for collecting testimonials. A fill-in-the-blanks form works great in most circumstances. Be sure to ask for your client’s full name and permission to publish the testimonial.

2. Ask for a testimonial right away. This strategy has two benefits. First, the details of your service will still be fresh in your customer’s mind. Second, buyer’s remorse and refund requests will be reduced once the client has “taken a stand” for your service.

3. Ask for a specific testimonial. For instance, you can say, “Kathy can you jot down a brief description of how we took care of your squeaky brakes?”

4. Ask your customer to describe the problem she was having before using your product or service. This helps your prospect identify with the customer giving a testimonial, and also helps aggravate the pain the prospect is experiencing (aggravation is part of the selling process).

5. Try to get a picture of your customer to use along with the testimonial. Keep a Polaroid or digital camera handy for this purpose.

So, what should you do with all these testimonials once you’ve collected them? First and foremost, use them in every single bit of marketing that you generate. Here are a few more ideas:

1. Compile your testimonials into an “Important Tips” free report and use it as a lead generator.

2. Create a CD of audio testimonials that you can send to prospects.

3. Play a DVD of video testimonials on a loop in your waiting room. This is especially effective if you have testimonials about products or services that many of your customers aren’t aware that you offer. This makes great covert “advertising”.

4. Plaster your written, audio and video testimonials all over your website.

5. Post your testimonials on a huge bulletin board in your lobby and include photos of your customers if you have them.

6. Use corresponding testimonials in your advertising. Are you creating a coupon for a coolant flush? Include testimonials about how great your coolant flush service is.

7. Use complimentary testimonials in your advertising. Running an oil change special? Include testimonials about your tire rotation service.

And just like referrals, it is absolutely imperative that you come up with a special way to thank the customers who gave you testimonials. More than likely, the clients who give referrals and testimonials are your best and most loyal customers – and you want to keep it that way!

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March 29, 2010

Simple Accounting for the Small Business – Synoptic Journal Bookkeeping Using a Simple Accounting Spreadsheet Template

Starting a small business out of your home, offering products or services like business consulting, photography, selling on the web or a MLM? You are now faced with tracking all your expenses and revenues for your business and you certainly don’t have the money yet to engage a bookkeeper or accountant. If your business is a sole proprietorship, whether it be a Canadian Proprietorship or a US-based Proprietorship, you do not require an accountant to submit your company financials (books) to the IRS (USA) or Revenue Canada). Your business revenue and losses are reported as part of your annual personal income tax. For this small business start-up, you won’t need to buy fancy accounting software, like Quick Books or AccPac to track your business.

Only as part of incorporating Bizfare Enterprise Inc in 2005 was it a requirement to engage an accountant. My accountant did insist on using Quick Books software for my business accounting. Up until then using a simple spreadsheet template served my business accounting needs for over ten years. This simple spreadsheet accounting stood the test of multiple audits by Revenue Canada (CRA and Revenue Canada Goods and Services Tax. Both the hardcopy columnar pad and an electronic spreadsheet version of my financial books were accepted by Revenue Canada. (BTW the audits disclosed more ways for me to claim back additional taxes for the previous three years! Now that’s my type of audit!)

In your new start-up business venture, you likely will generate somewhere between 10 to 30 accounting transactions per month. These transactions would be items like Expense, Revenue (sales), Liability (Loan) type transactions and Sales Tax (Federal + State/Provincial) Collection/Deductions. These transactions are further broken down into various Business Accounts. All the Accounts you set up for your business is called a Chart of Accounts. Recording your business financial transactions (Journal Entries) can be executed with pen and ink on an accounting columnar pad or electronically with your computer using a spreadsheet program (MS Excel, Open Office, Star Office).

Whether you employ electronic or hardcopy media, you need to develop a simple Journal template to create your Business Synoptic Journal. This Synoptic Journal format has the advantage of allowing you a complete view of all your individual journal entry transactions against all your various Business Accounts. Creating this Synoptic Journal is easier to do than you think and requires no prior accounting or bookkeeping knowledge.

TIP #1: You could further reduce the accounting line items (Journal Entries) by consolidating like items such as ‘all the Sales for the month’ and ‘all parking receipts for the month’ into one totaled line item for the month.

Where do you start to identify the various Business Accounts required for your Synoptic Journal?

If you currently work for a company or government, secure of one of their employee expense forms. Look at each of the areas identified as expenses – meals, mileage, hotel accommodations, taxi, car rental, telephone & cell phone, air fare, office supplies, etc. This is an excellent place to identify the various Business Expense Accounts you need to set up for your business accounting books. To complete your business Chart of Accounts, include a Business Bank Account, Sales, COGS (Cost of Goods Sold), Sales Tax Collection, Marketing Expense and others as required. Each of these Accounts will be a listed as a title across the top of each column of your Synoptic Journal. Each row (line item) will be the individual journal transactions entered by you. The journal transactions are grouped and summarized for each business month; usually, January through December.

So your Synoptic Journal would look something like this Sample Synoptic Journal at http://picasaweb.google.com/carl.chesal/BookkeepingTemplate.

The column headings might be in this order (from left to right):

TIP #2: Unless your business is Incorporated or an LLC, you don’t need to go through the expense of opening a business account with your bank. Usually Business accounts charge a higher monthly fee, charge for printing checks (cheques) and don’t offer any interest on your monthly account balance. Instead, open a separate personal bank account (maybe savings). This will show the ‘taxman’ that you are keeping the business separate from your personal banking. Remember you are a sole proprietor and all your business income (and losses) are to be applied directly to your personal income tax submission ( a s per IRS and CRA).

To save you time and make is very simple, I have already created a simple spreadsheet Synoptic Journal template that performs all the calculations for each month and rolls up the 12 business months so it can easily be included in your annual personal income tax preparation. This Synoptic Journal template has Debit/Credit checks and balances, tracks sales taxes, mileage and totals each account for your entire fiscal year. If you want this FREE Bookkeeping template, you can get it at Communicate Innovate. With a few key strokes, which will help identify yourself, I will gladly send you this FREE Synoptic Journal Template and also any future Small Business Tips.

TIP #3: One Rule of Accounting is that every time you record a journal entry (line item which applies the transaction against the appropriate business accounts) the Debits and Credits MUST REMAIN EQUAL at ALL Times. This Debit Equals Credit calculator is built into this FREE Bookkeeping Template. When you have completed entering a line item (journal transaction), check to ensure that the amount the the Debit cell equals the amount in the Credit cell. If they are not equal, you have not entered the amounts properly in your journal transaction. Correct the problem before entering your next journal entry.

You are now equipped to capture your business financial books with some simple accounting software. Happy bookkeeping! And Happy Selling!

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