Are you a small business that needs a little extra help here and there? Beware of how you hire any help in the form of time, labor, or creativity. There are both federal and state rules that you must follow when paying money to others when it benefits your business.

Employees

Hiring an employee means you put them on your company payroll. However, this is where small business employers can get into a lot of trouble if they don’t follow tax laws.

Full-time employees are usually those who work 35-40 hours per week. Any more than 40 hours in one week, and you must pay overtime at 1.5 times the regular rate. D

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One of the most basic requirements of operating a small business is establishing a bank account in the business name. For some new business owners, this may seem trivial and unnecessary, since their business is operated out of their home.

However, the consequences of mingling your personal and business funds, even if it is part-time, can be disastrous – especially if the IRS makes a call to see your small business financial records. Here are 5 good reasons you need a bank account in your business name.

1. Business For Profit

   The IRS acknowledges that some small businesses are actually a hobby run for fun by the owner. H

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Paper may not seem like a big expense, but when you add up all the money spent on the reams of paper, manila folders to hold paper, filing cabinets to store the paper, and the hours spent by employees sorting through paper, you might realize that paper can be costly.

Today many companies, big and small, are going paperless, but you rarely hear the details about how they do it. Here are a few tips to get you started on a completely paperless office.

Email memos – Interoffice memos are a big paper hog in many offices. Every time a company president or department head has something to announce or a report to share, it goes out in the form of a memo to everyone. I

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Branding is an often-discussed topic for small business. If you have a clear picture that comes to mind if the “Golden Arches” or “It’s The Real Thing” is said, you know the power and effectiveness of branding. But branding is just for the big companies, right? You might think only mega-corporations benefit from branding efforts, but small business owners benefit from name-recognition, word-of-mouth, and value – all from branding efforts.

What makes branding work for small business? Certainly you must practice having a professional-looking name and logo, but that’s not all. Here are thre

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You all know that one of my goals with the new blog is to expand the focus outside of simply business credit and add more information on personal credit and making money with credit. I have explored the option of forex trading and spoke briefly about creating a forex fund or offering managed accounts so that you guys will have access to these alternative investments.

A few years ago, I was considering starting a real estate syndicate. Basically this is where a group of people will invest money in order to invest in real estate. I was speaking to one of my mentors today and telling him that I think now is a great time to do so.

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As a small business owner and an entrepreneur, you have a big responsibility as the risk-taker for your business. A new business needs nurturing, attention, and work to help it grow and prosper – but this is also a familiar paradigm with your offspring. Unfortunately, many small business owners forget that they have growing children who also want and need their attention. While you may be spending 60 to 80 hours a week on the job, remember to take time for the kids.

Turn Off The Phone On Weekends

When you are home that doesn’t mean you are not still working on your business. Most small business owners continue to work on their companies even during their “off” hours. It is n

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How does your business use social media in its marketing mix? If you use it to identify and attract new customers – then you are in the majority.

According to the latest Small Business Success Index (sponsored by Network Solutions? and the Center for Excellence in Service at the University of Maryland’s Robert H. Smith School of Business) 61% of respondents use blogs, Twitter and Facebook profiles to expand “…external marketing and engagement including identifying and attracting new customers, building brand awareness and staying engaged with customers.”

And while social media adoption is up, doubts do remain.  Here are some of the other key findings of the report:

1. The

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