Small Business Tips

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A small business blog featuring tips to help entrepreneurs succeed in the small business world. Topics include family business, human resources, marketing, money, networking, operations, ownership, startup, taxes and technology.
Fair Tax Legislation

Like most small business owners, I cringe when paying taxes. It’s my duty as an American citizen, however, I question if taking such a large chunk of what I earn is the right way.

Enter the Fair Tax legislation also known as H.R.25.

The Fair Tax repeals the income tax, employment tax, and estate and gift tax. A national sales tax of 23% on the use or consumption in the United States of taxable property or services would be implemented. In other words, only the money you spend would be taxed.

1) Liberation of skilled workers.

Burns argues that income taxes fall hardest on skilled men and women who work hard in, and sometimes own, America’s small businesses. The burden of time and fees is the single largest thing that keeps these workers from accumulating wealth.

These workers are not represented by anyone in Congress, whether Democrat or Republican. Our laws are written by special interests that range from the AARP to the nameless lobbyists who tack on special tax breaks that benefit a single company or industry. That’s the way it is. It is an entirely corrupt system.

2) If you don’t spend your income, everyone benefits from it.

By not spending the money you earn, you are saving it. This extra cash flow will open up new capital for our economy. It would provide new cash for bank deposits, inventory for stores and manufacturers, and capital for equipment. Without the drain of taxation, a larger supply of capital would force down interest rates.

3) Greater equity in taxation.

The only true winners in our current tax system are the lobbyist who represent self-interest groups at the ultimate expense American small business owners like you and I. Both political parties fail to recognize that the worlds of work and entitlements are on a collision course.

Recommended Reading:

FairTax.org – Americans for Fair Tax
The FairTax Book by Neal Boortz
Thumbnail Sketch of the FairTax


Related Small Business Buzz Posts:
IRS Payments by Credit Card
Alternative Minimum Tax
Managing Business Cash Flow
Reducing Taxable Income with Retirement Funds
IRS Audit Triggers

By Chris Brunner
Tuesday, October 16th, 2018 @ 12:01 AM CDT

Taxes |

Building Your Office

“The most productive office is one that is not only comfortable and attractive, but is also functional.”

Last year when I moved my home-based business into a leased office space, I needed to select a new desk setup. I chose a corner desk with a desk extension off the left side. Behind me I have a bookcase/shelf system that holds various decor and books. The ad photo above shows the desk setup that I purchased.

I love this setup not only because it looks great, but also because it’s extremely functional. The setup fulfills every need I had including a comfortable computer position, a desk for writing and stacking and even an attachment to place sticky notes.

Need a comfortable office chair? They are expensive, but I highly suggest a Herman-Miller Aeron chair. It is by far the most comfortable office chair I have ever sat in (and I’ve tried alot of chairs!). Don’t settle for a cheap alternative!

Recommended Reading:

Consider needs first in office furniture
10 Common Home Office Mistakes
How to Use Artwork to Enhance Any Room


Related Small Business Buzz Posts:
Standing on the Job
Cut the Clutter!
Aprils Fools Day Office Pranks
Advertising Quality in Your Product
How to Write an Effective Advertisement

By Chris Brunner
Monday, October 15th, 2018 @ 12:01 AM CDT

Ownership |

Protecting Your Clientele

Headhunting is a common practice these days.

An employee informs you that he will be leaving his positions in order to take up a new job offer. Soon you learn that this new job offer came from a direct competitor. Chances are, your employee will try to take customers with them.

How can you protect the employee/company/customer relationships that you’ve worked so hard to gain?

Restrictive Covenants – require employees who interact with customers or work with confidential information to be bound by a non-compete or non-solicitation agreement or both.

Keeping Former Employees Away From Your Customers

Recommended Reading:

Nolo.com – Non-compete Agreements
FindLaw.com – Non-compete Agreements
Business Owner’s Toolkit – Non-compete Agreements


Related Small Business Buzz Posts:
Preparing for a Health Inspection
Preparing Your Company for its First Employee
What Employees Want from You
Competing for Business with a Former Employer
Differentiate Your Business With Quality Customer Service

By Chris Brunner
Sunday, October 14th, 2018 @ 12:02 AM CDT

Ownership |