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Trusted Answers From Licensed Business Professionals
FINANCING

Should You Dip Into Your Retirement To Start A Business?

By The BIDaWIZ Team on April 24th, 2013 at 9:00 pm

Many newly formed businesses rely heavily on startup capital from friends, family and in some cases accredited investors. Founders typically put in some of their own money and may withdraw from their retirement to do so. Should you consider using your retirement to start a business? Read More.

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SMALL BUSINESS

The Benefits And Dangers For Partnering With Another Company

By The BIDaWIZ Team on April 24th, 2013 at 6:00 pm

Many new companies face a similar marketing problem. They have difficulty disseminating their message to their target market without spending a lot of money on advertising. One way to solve this problem is to partner with a company that serves a like-minded audience. .
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SMALL BUSINESS

The Personality Traits That Made Steve Jobs Successful

By The BIDaWIZ Team on April 19th, 2013 at 6:47 pm

There were many personality traits that helped Steve Jobs become the most successful entrepreneur of our time. We can all learn a lot from him. Whether or not you've already reached success, Steve Jobs provides a fantastic blueprint to follow. .
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FINANCIAL ADVICE

Should Your Company Have An Employee Stock Ownership Plan?

By The BIDaWIZ Team on April 19th, 2013 at 6:32 pm

Every small business owner will eventually need to think about a succession plan if they don't try to sell their company outright. Recently, a bi-partisan supported bill was introduced to encourage awarding employees partial ownership in your business over time with employee stock ownership plans (ESOPs). The bill specifically intends to remove the barriers for S Corporations to establish ESOPs as well as provides S Corps with similar tax incentives to those offered to C Corporations. Small-business owners who are heavily invested in their companies may want to consider this option. .
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SMALL BUSINESS

What Are My Rights As A Minority Investor In a Business?

By The BIDaWIZ Team on April 12th, 2013 at 4:00 pm

As a minority shareholder in a company, you may reap the benefits of not having to manage the day to day activities of the business, while receiving the financial rewards. However, what happens when something goes wrong with the business or you'd would like to change management? .
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TAX BREAKS, TAX SAVINGS

Are You Missing These Business Tax Deductions On Your Tax Return?

By The BIDaWIZ Team on April 5th, 2013 at 4:00 pm

There’s only a little over a week left until personal and small business tax returns are due. As you’re finalizing your tax return, you may want to consider if you’ve claimed certain business related tax deductions. You could be leaving money on the table. Read More.

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FINANCING

What Are Some Ways To Obtain Funding For An Innovative Business?

By The BIDaWIZ Team on April 4th, 2013 at 8:00 pm

It’s true that while crowd-funding sites have opened the door for many entrepreneurs that otherwise couldn’t obtain outside financing, it’s still not the best option for everyone. Case in point, for those entrepreneurs with a highly confidential business model. However, you shouldn’t always consider the absolute worst case scenario when sharing your ideas with others. A crowd-funding site may provide you with instant market feedback that you may not gain from an individual investor or a consortium of angel investors. So, what are your other options? Read More.

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FINANCIAL ADVICE

How Should A Business Owner Set Their Salary?

By The BIDaWIZ Team on March 29th, 2013 at 1:00 am

Business owners are compensated with equity in the company, but they still need a salary to live on. Setting a salary can be tricky as you'll want to be compensated for your work, while also not taking away from the future growth of the company. How should you set your salary? .
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TAX BREAKS

Are You Deducting Start-up Expenses Properly?

By The BIDaWIZ Team on March 22nd, 2013 at 5:00 pm

One of the most common errors that entrepreneurs make when filing a tax return is accounting for startup expenses. Many mis-categorize startup expenses and don't deduct them at the right time. Is your business accounting for start-up expenses correctly? .
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HIRING

Should I Worry About Signing A Contract With A Non-Compete Clause?

By The BIDaWIZ Team on March 22nd, 2013 at 4:00 pm

Whether you're an employee of a company or a business owner finalizing a partnership deal with another company, the non-compete clause is often included in the final contract. Should you be very worried and hesitant in signing a contract with a non-complete clause in it? .
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