Small Business Operation

The Finance Writer provides blog articles and other content for websites of professionals who render services to small businesses. Here are some sample articles by The Finance Writer and also some valuable information for anyone with a small business.

The number of small business started continues to rise. So does the number of small business failures. Don’t start a business without reading what The Finance Writer has to say in the articles described below. And, if you already have a business, take a look at the information from The Finance Writer just to make sure you understand the subjects. None of the details should seem foreign to a successful business operation. Consider these articles from The Finance Writer as good ways to refresh essential knowledge.

Being an entrepreneur is risky and even somewhat dangerous. But the unknown confronts everyone in the working world. At least when you’re in charge there are no superiors to sabotage implementation of your business plan.

Starting a business isn’t easy. Maybe unexpected problems arise. But, what you’re not seeing in these situations is equally challenging problems that occur when working for someone else…without the potential rewards from your successful problem solving.

Not wanting to fail as an entrepreneur is a strong motivator to make good decisions. If you make a mistake on the job working for someone else, well, there’s always a way to make amends or even take a new job. But running your own business gives you more of a stake in the outcome of your actions.

Secondly, having your own corporation is not all about the money. This keeps you focused on the tasks at hand. Money certainly matters. It always does. But that’s more the case when anticipating the paycheck at a job. For an entrepreneur, the work is about a dream and doing all that’s required to achieve it.

Lastly, when you get a good idea while operating your own business, you’re able to implement it. Sound ideas lead to success. But a good idea while working for someone else may take too much effort to obtain approval for action. Sometimes it’s never approved. This condition limits success.

People who are not entrepreneurs don’t talk themselves out of starting a business. They’re not self-employed because it never occurs to them. You’re different because you have ideas and know what to do about them. That’s what markets need. That’s why – for you – starting a business is smarter than taking a traditional job.

 

Independent Contractors

A lot of individuals are giving up on finding employment like they had before the Great Recession. Instead, they are utilizing their abilities by working as independent contractors. That’s a good choice for many types of skills. Plenty of companies are willing to pay independent contractors because this doesn’t require permanent job commitments.

When you make freelance fees and commissions, you have to understand self-employment tax. In the following articles, The Finance Writer explains the basics about this tax for anyone who is unfamiliar with it.

What Is Self-Employment Tax Based On?

http://smallbusiness.chron.com/selfemployment-tax-based-on-17954.html

Are Commissions Exempt From Self-Employment Tax?

http://www.ehow.com/info_8465926_commissions-exempt-selfemployment-tax.html

 

Incorporating

If you create a corporation to avoid self-employment taxes, be sure to read what The Finance Writer conveys about S-corporations. Plenty of individuals have heard that having an S corporation can eliminate taxes for Social Security and Medicare. Better read the insights of The Finance Writer in these articles to understand the complete story.

https://thefinancewriter.com/must-read-for-small-business-owners/tax-s-corporation/

Payroll

If you have employees for your business, The Finance Writer has some essential information for you in this article. Even if you sub-contract the entire payroll process to a third-party, the legal responsibilities still reside with you as the employer. More importantly, you have to understand how to report payroll at tax time. The IRS will check to assure a match exists between payroll tax forms and income tax forms. When they don’t match, you can expect a tax notice requiring time and money to address. Avoid that by understanding the elements expressed by The Finance Writer in this article. It’s written for non-accountants who don’t know anything about payroll accounting.

The Principles of Accounting for Payroll

http://www.ehow.com/info_8432522_principles-accounting-payroll.html

 

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