Kamis, 28 Juni 2012

Small Business Tax Survival Tips

If you're like most people, then it's safe to say that the current economic climate has gotten you down in more ways than one. Just take a look at The Occupy Wall Street Movement; how it has spread far and wide in such a short period of time. It's no secret that this country is in crisis mode and people are literally fighting for their lives. Working Americans are being strangled by taxes! Every month we pay more in taxes than we spend on housing, food, transportation, and health care. WHERE'S OUR CUT?

Have you ever wondered how the "rich" maintain their wealth? Have you ever wondered why so many people are attracted to owning their own business? Profits you say? Absolutely, but there is one outstanding advantage to owning a home based business even if you fail to make any profit at all.

Running a part-time home based business is the biggest way - the only way - the average person can have a major impact on slashing his/her taxes. You can save thousands of dollars every month and year on your taxes simply by being a small self-employed business owner. Ultimately, it' not about how much you make, but rather how much you are able to keep in the end!

Rabu, 06 Juni 2012

Tips on Liquidating a Business

To begin to process find a reputable Liquidator, a company that provides a "one stop shop". History shows that the more hands in the pot, the more difficult the liquidation process will prove to be. A business would do well to find a company that handles the entire process from start to finish including arranging for house or outside electricians, cleaning crews and painters to satisfy all the necessary terms of the lease. This allows for a smooth walk through with the property management and subsequent return of security deposit. Second, make sure your liquidator has an air tight agreement to remove "all products". Many times less reputable dealers will come in and "cherry pick" all the valuable pieces and leave behind the rest. This will end up costing a business owner valuable time and money that could be avoided in the beginning. Third, make sure the liquidator has a skilled project manager "on site. It's vital to have someone available who can make "on the spot" decisions when things change, as they always do. And last, negotiate as best a deal as possible on all business assets while keeping in mind that you may need to compromise on value and cost.

Many call centers close and have 100's of cubicles to dispose of and search for ideas to quickly remedy the problem. This is a situation that more and more companies are dealing with in the current economy. There are several ways to solve this dilemma. Many factors can determine the most cost efficient means to clear an office space and probably the most important would be the time table for being out of the space. If a liquidation company is able to work onsite to market your product for a minimum of 90 days there is a good chance he will be able to either offer you a token amount for your surplus or in the worst case scenario will be able to offer a "straight trade for services". As the time frame narrows it then becomes a situation where the liquidator may have to charge a fee for removal which still should be much less expensive that hiring a mover who really has no financial interest in the product and thus is not able to offset the move costs through product sales. Remember, time is money!

With so many companies closing down or downsizing liquidators are swamped with a surplus of used product. This being said, the value of your surplus office furniture hinges on several factors, the least important being what you paid for it. Most dealers realize that any furniture over 5 years old was written off long ago and they are much more interested in whether or not your furniture has any marketability. This will be determined by customer demand and quite frankly by the amount of matching cubicles that you have. A 300 station call center is much more appealing to most liquidators than a 3 or 4 man office. They typically recommend a small business owner try selling their product directly to an end user. They are apt to get a better return on their investment. As for the larger customers, when considering a liquidator make sure you represent all of the product you intend to part with and stick with that inventory. Many times a client will pull the more valuable items right before the deal is made and this may be a piece that the deal hinges on. The best rule of thumb is to honestly represent what you have and to hope for a smooth and cost effective transition.