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  • Is your business in the Cloud?
    Investment Annual Rate of Return Calculator Mortgage Mortgage Loan Calculator Retirement Savings and Planning 401 k Calculator How long will my retirement savings last Tax 1040 Tax Calculator Payroll Deductions Calculator Self Employment Tax Calculator Helpful Links ASBDC Member Directory Search My NASE About Me Account Benefits Optional Benefits Payment Details Expert Questions Email Subscriptions Membership Directory NASE Business Management Blog You know your industry let us help you manage your small business Is your business in the Cloud Thursday November 10 2011 Posted by Molly Nelson It may surprise you to know that if you use tools like Gmail Facebook or Twitter for your business you re already in the Cloud The basic concept of the Cloud and cloud computing is that users can store and access information and software on third party servers instead of the actual computer or mobile device in front of them Cloud providers like Amazon Web Services allow users to rent the programs and computing power they need at a given time allowing companies to for example run complex programs scenarios or large datasets on multiple computers for a very small fraction of what it would cost a company to purchase the computers and software needed to perform these functions in house Businessweek has a nice introduction to the Cloud and the various players providing cloud services Also check out Small Business Trends article on why small businesses love or should love the Cloud Speaking of the Cloud Google is now available for businesses and OPEN Forum has tips on changing your Twitter handle without losing your followers Have you used cloud computing services Have services available through the Cloud helped you start your business and or run your business more efficiently Tell us in the comments Comment Your name Click to add Email

    Original URL path: http://selfemployed.nase.org/business-help/get-help/business-management/business-management-blog/self-made/2011/11/10/Is_your_business_in_the_Cloud (2016-02-14)
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  • Family Employee Under 15 [Ask The Experts Q & A]
    Ask The Experts Q A Monday November 07 2011 Q I have following questions regarding a family employee child who is under 15 yrs What s the best method of payment direct deposit payroll or checks or cash Can we claim him as DEPENDENT for tax purposes if the annual income paid is under the limit 4 750 applicable for year 2011 For our LLC we have been filing tax returns as a sole proprietor along with individual tax returns Do we have to file additional form for child income A The new employee your child should be treated basically the same as any other non related employee even though there are certainly some differences in how the wages are taxed Whether the employee wishes to be compensated via a direct deposit via a paper payroll check or via cash will not change the overall tax implications nor any of the withholding requirements So that decision is really one of convenience and one of choice between the employee and the employer From the company standpoint paying cash as payroll would be somewhat unusual and I would prefer having all payroll run through the company s bank account via a check or a direct deposit debit to the account But that is a record keeping parameter and does not change any tax implication You can pay them any way you like but I would recommend against having any payroll transactions complete with cash The wages that you pay to any employee are required to be reported on periodic payroll tax returns Even if the only employee you have is your child you will still be required to file payroll tax returns The quarterly payroll information is reported via a Form 941 or if you qualify you may be eligible to file

    Original URL path: http://selfemployed.nase.org/business-help/get-help/business-management/business-management-blog/self-made/2011/11/07/Family_Employee_Under_15_Ask_The_Experts_Q_A (2016-02-14)
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  • How Do I Account For Gratuities In My Payroll? [Ask The Experts Q&A]
    in the Point of Sales System at the end of the day How do I deal with the tips per pay period For example we have two GMs bartenders who each make 250 a week no hourly I have figured out how to deal with payroll taxes on this set amount but how do I account for the tips that they get on credit cards A Your question is a very good one and one that I personally always thought was cumbersome The first key point is that tips are taxable income to the employee and should be included on their W 2 at the end of the year Secondly the tips are subject to federal income tax withholding and are also subject to FICA Medicare and FUTA tax withholding That is the cumbersome part since much of the tip income is in cash and you may never know about it So the first key point is that the employee is required to report to the company the tips that they receive The tips that they report are included on IRS Form 4070 Employee s Report of Tips to Employer It can be a different form if that is easier the IRS just gives us this form so that we don t have to come up with one on our own The employee is supposed to provide that information to you by the 10th of the following month You will then use that report to complete your payroll calculations You are required to withhold all taxes from those amounts as well but you don t have the cash on the front end You therefore simply withhold that amount from their regular check or any other payments that you would normally make to them If there isn t enough other money

    Original URL path: http://selfemployed.nase.org/business-help/get-help/business-management/business-management-blog/self-made/2011/09/13/How_Do_I_Account_For_Gratuities_In_My_Payroll_Ask_The_Experts_Q_A (2016-02-14)
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  • Home Office Roundup
    Help Tax Healthcare Reform Health Marketing 101 Business Management Marketing Advertising Real Estate Calculators Business Breakeven Analysis Calculator Cash Flow Calculator Equipment Buy vs Lease Investment Annual Rate of Return Calculator Mortgage Mortgage Loan Calculator Retirement Savings and Planning 401 k Calculator How long will my retirement savings last Tax 1040 Tax Calculator Payroll Deductions Calculator Self Employment Tax Calculator Helpful Links ASBDC Member Directory Search My NASE About Me Account Benefits Optional Benefits Payment Details Expert Questions Email Subscriptions Membership Directory NASE Business Management Blog You know your industry let us help you manage your small business Home Office Roundup Monday April 25 2011 Posted by Molly Nelson Let s start the week with some home office focused articles Feel free to share any additional tips or advice in the comments Small Biz Bee has 11 tips on managing working from home while Freelance Folder offers 10 home office time savers Chief Home Officer is an expert on all things home office and offers home office tips on a wide range of subjects from making your home office both comfortable and productive sharing a home office with your spouse and which shredder is the best investment no really check out the picture And if you re feeling a bit stressed your home office may just be in need of a little feng shui 11 Ways to Manage Working From Home 10 Home Office Time Savers Home Office Creature Comforts Guest Post Sharing a Home Office With Your Spouse How to Make It Work A Home Office Shredder That Really Shreds Feng Shui Tips for the Home Office Comment Your name Click to add Email optional Click to add Comment RadEditor HTML WYSIWYG Editor MS Word like content editing experience thanks to a rich set of formatting tools dropdowns dialogs

    Original URL path: http://selfemployed.nase.org/business-help/get-help/business-management/business-management-blog/self-made/2011/04/25/Home_Office_Roundup (2016-02-14)
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  • 3 Factors To Consider Before Hiring Your First Employee [Guest Post]
    First Employee Guest Post Thursday September 16 2010 Posted by Kristin Oberlander As an NASE Member you have access to discounts on incorporation services and DBA registration through BizFilings If you have questions about whether or not to take on a new employee our guest blogger Julie Henningfield offers some pointers to help you decide Remember to consult with our small business experts at ShopTalk if you have any additional questions Self employment cultivates independence pride and control But when the workload gets to be too burdensome you may start to think bringing someone else on board isn t such a bad idea One of the first things you need to ask yourself is if you really need someone else to share in the workload or if you just need to organize your tasks more efficiently If the lack of organizational skills is the root of the problem consider looking into seminars and libraries for information on time management However if it s determined that you need to add staff to accommodate your company s growing pains then you need to consider other criteria Here are three questions to consider in making the decision to add on staff Can you afford an employee Even though you ve come to the realization that an extra set of hands is necessary for your company s growth you still need to figure out if you can really afford an employee You don t want to defeat your goals by draining your company s budget Factor your operating budget your obligation to pay at least the minimum hourly wage and your legal obligation to cover employee benefits into the equation Try to estimate how much wiggle room you have with your finances in paying an extra person It s also important to look at other ways an employee can help generate additional income If another employee opens up more time to you to market your business or increase productivity the investment may be well worth it Will a full time employee part time or temporary help satisfy your needs There are plenty of advantages to taking on a full time employee You can groom this employee to learn the ropes according to your vision You will also have the advantage of having someone in place to mind the store when you need to satisfy other obligations The disadvantages of hiring a full time person include the matters of payroll taxes federal and state employment laws as well as insurance Formulating this decision should be based on what your long term goals are as well as what you can afford Is it time to incorporate Deciding to hire an employee may also be the tipping point for you to incorporate your business Company growth unfortunately also generates risks The more you have the more you have to lose Incorporation adds that extra layer of protection needed when there s more at stake As a corporation owner you can reap the rewards of limited liability protection

    Original URL path: http://selfemployed.nase.org/business-help/get-help/business-management/business-management-blog/self-made/2010/09/16/3_Factors_To_Consider_Before_Hiring_Your_First_Employee_Guest_Post (2016-02-14)
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  • Transitioning From Employee To Business Owner
    take some effort Most experts recommend that you have at least six months worth of living expenses saved up before you leave your job It is probably time to make some changes in your financial habits as well Bank as much of your paycheck as you can so that you have money for living expenses and cash flow to start your business Cut personal expenses in half if possible and save the rest Write out a budget to help you save and stick with it If you change your habits before you leave your full time job you will be able to save more and be prepared for tighter times that might lie ahead NASE Member Warren Croce of Warren Croce Design in Belmont Mass spent 18 years in the corporate world before starting out on his own He started saving while still working and was able to bank 12 months of living expenses before leaving He strongly recommends that anyone wanting to go out on his own should meet with a financial planner to help prepare for this transition Once finances are set it is time to transition your mindset from employee to boss and what your new work life routine will entail This can be a source of much stress for many entrepreneurs who were used to a defined workday Being able to work any time from anywhere sounds nice but for many start ups it means working all the time from everywhere as you begin to grow Finding the Balance You need to set daily goals and boundaries to help keep you on task and try to find that balance that probably set you about starting your own business in the first place First and foremost keep a schedule Define times throughout the day that are set aside for certain tasks It is also very important to keep organized so that you know when and where meetings are taking place as well as where information for your business and projects are Technology offers a plethora of applications to help Microsoft Outlook will keep you on schedule Remember the Milk a smartphone app helps you remember what you need to be doing when Evernote allows you to write down your thoughts like that next brilliant business idea wherever you are You Are Not Alone Being your own boss often also means that you now work alone And that can mean gaps in business knowledge Sometimes it may be necessary to find a partner who can complement your knowledge Elizabeth Sichinga of Africa Global Super Center LLC in Wyomissing Pa an import export business knew that she needed help and found it in her partner Now her business has expanded to include five partners NASE Member Al Rickard of Association Vision in Chantilly Va recalls his transition working as an association professional to partnering with a colleague to form a new company I never considered myself an entrepreneur That s why partnering with my colleague who has the entrepreneurial

    Original URL path: http://selfemployed.nase.org/business-help/get-help/business-management/business-management-news/2013/04/01/transitioning-from-employee-to-business-owner (2016-02-14)
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  • Look Before You Leap: Researching the Market Before You Start a Business
    can use these forums and communities like a free online focus group Ask questions about what consumers liked or didn t like a about a particular product or service Knowing who spends time in these forums and what they are saying will help you know who will want your product service Search to see who potential competitors are both locally if you are a brick and mortar business as well as in cyberspace Sites such as Google Facebook Twitter and LinkedIn are a good place to start Once you find out who your competition is you can find out more about them Most businesses have a website Check it out Does it look professional Does it explain their product or services How many employees do they have Review sites such as Yelp and Angie s List to see what actual customers are saying about these businesses NASE Member Theresa Cassiday owner of Catena Creations LLC in Bellevue Neb used the Internet to find out what to charge for her services Said Cassiday I actually did my first market research a couple of years before I started my business I had been offered a couple of very big freelancing projects and needed to figure out what I should charge At that time nearly 7 years ago I did a lot of research online looking for freelancers websites to see what they charged and what their skills were David Hollender online communication strategist at Mind Sky in Reston Va says to look at your competitors websites from a different perspective as well Just because a company has a beautiful website doesn t mean they are a great business Find out their relevance and credibility by doing a little research First impression are usually right if a website looks unpolished it is probably telling of the business as a whole Google s page rank of a website is based on how relevant and credible they are Credibility is partly based on how many other websites link to a given webpage This implies that other web entities believe the site to be legitimate This will let you know if they are a legitimate business competitor The Internet can provide you with a lot more information about a business than just its website You can search any number of review sites such as Yelp and Angie s List to see what actual customers are saying about these businesses Visit It We sometimes get caught up in all that we can find searching on our computers but if your competition has a brick and mortar store within a reasonable distance go visit in person Be a customer See who is shopping there and what their demographics are This will help you determine if this is the same market demographic you intended to serve or if you were seeking a different group And talk to other customers as you shop Not only will you get to experience what the competition has to offer as far as products

    Original URL path: http://selfemployed.nase.org/business-help/get-help/business-management/business-management-news/2013/03/07/look-before-you-leap-researching-the-market-before-you-start-a-business (2016-02-14)
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  • Starting Over
    to be reality based and get a clearer picture of their terrain People have a tendency to not do their homework and make emotional decisions which lead to unfortunate mistakes Rooney realized the market was different in his new home and that he would have to be more innovative and define his niche differently He started by using technology to his advantage In San Antonio I didn t have or need a website Here I d be lost without one Most of my initial referrals came from my website As he was located so close to the land of internet start ups and the population was very tech savvy he decided to incorporate Skype into his business model This allowed him to visually assess and work with his clients anywhere in the world Not to say that the transition was without its hiccups What I ve learned this past year is that there is so much uncertainty out there that can be transformed into fear and the more fearful I became the more my creativity went out the window explains Rooney Fear is a constricting thing and when it s chronic it s debilitating and very toxic My wife and I began to look at this move as a big adventure and remembered how fortunate we are to be living in one of the prettiest places on Earth says Rooney They also learned to enjoy a simpler lifestyle closer to nature and focused on building up Rooney s clientele It helped us focus on what s really important personally and professionally Redefining Success In her early 20s NASE Member Aly B Snider decided overnight that she would become an independent licensed contractor She d been turned down for a raise by the contractor she worked for Knowing she was a good worker and what the contractor was billing her out for she realized she was worth more than she was being paid and thought she had nothing to lose She started a painting business and went from working alone to having 20 full time workers I had no life managing that many employees but I was successful she says In July 2008 her jobs started to slow down and by November she realized she d hit a wall I had way too much overhead work was not coming in and I was competing with people who were charging nothing People were also not paying us Snider recalls it was a really frightening time for her She borrowed all of the money she could through an equity line of credit on the business and put payroll on personal credit cards She went without a paycheck for a year When that proved to not be enough she ultimately turned to her father for advice and financial help After working my way through college and tasting the sweets of success it was a huge blow to my ego to have to go running to Daddy she admits But he made me realize that

    Original URL path: http://selfemployed.nase.org/business-help/get-help/business-management/business-management-news/2013/02/04/starting-over (2016-02-14)
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