Join THE Small Business Expert, Susan Solovic, in this podcast on legal tips for freelancers is Barbara Weltman. Weltman has been a tax and business attorney since 1977. She has the knowledge entrepreneurs need to get ahead and stay ahead. Whether she’s writing books on small business taxes, legal issues for business and business finance […]
In sports, talented athletes look forward to the day they become free agents. They can then shop their services around to the highest bidder or look for the best “working” environment. A certain basketball player named Lebron James—maybe you’ve heard of him—is doing this right now. Aren’t freelancers in many ways the business world equivalent […]
One of the young women I mentor worked for me as an intern earlier this year and is completing her degree in marketing communications. She read or heard me mention eLance as a good resource for freelancers to find jobs. On her own, she started posting and bidding on jobs. Last week, she told me […]
Renting space is certainly an option, but it isn’t your only option. Instead of taking on the overhead of office space and an employee, why not keep your office in your home and hire a virtual assistant (VA). A virtual assistant is an independent entrepreneur who provides professional administrative services remotely using technology tools. The majority of VA’s work from home and they have well-equipped offices so they can easily handle the tasks you need performed.
If you have employees and/or you worked with independent contractors last year, you have until January 31, 2013 to issue W-2 and 1099 forms. That’s a deadline you don’t want to miss. The IRS closely monitors W-2 and 1099 returns to ensure accuracy and compliance, and the agency is strictly enforcing penalties for those who don’t comply. A little procrastination could hit your bank account hard. Should you fail to file or file inaccurate information, the penalties are more severe. For small businesses — companies with gross revenues of under $5 million the past three years — the maximum failure-to-file penalty is $500,000. You can find additional information and assistance via the IRS website.