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CREDIT CARDS, FINANCIAL ADVICE

Protections For Small Business Credit Card Holders Continue to Lag

By The BIDaWIZ Team on August 9th, 2012 at 6:00 pm

Many small business owners are finding that consumer credit cards are providing more financial flexibility and greater protections than business cards. Specifically, the credit card act of 2009 provides significant protections for consumer issued cards. Should you consider a consumer credit card for your business purchases? .
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TAX REPORTING

Claiming Unreimbursed Partner Expenses in a Partnership

By The BIDaWIZ Team on August 3rd, 2012 at 12:00 pm

Employees that travel frequently usually accumulate out of pocket expenses that are sometimes not reimbursed by their employers. These expenses are typically claimed as a Schedule A itemized deduction on the individual's tax return. But, what happens if a partner and not an employee of a partnership has out of pocket expenses? How is that treated for tax purposes? .
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HIRING, TAX BREAKS

How Have Small Businesses Reacted to the Health Care Mandate?

By The BIDaWIZ Team on July 13th, 2012 at 3:00 pm

Most small to mid-sized businesses that we’ve spoken with have reacted negatively to the new health care mandate. Many have contemplated a whole host of tactics to avoid the 50 or more employee rule requiring health care be provided to employees. Read More.

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TAX BREAKS

Small Businesses Should Take Note of the R&D Tax Credit

By The BIDaWIZ Team on July 13th, 2012 at 12:30 pm

The research and development credit expired for the 15th time at the end of 2011 and wasn't reinstated as some expected. Small businesses need to be aware of this credit since most are eligible and never claim it. .
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FINANCIAL ADVICE

Should I Purchase Cyber Liability Insurance For My Business?

By The BIDaWIZ Team on July 6th, 2012 at 11:00 am

One of the prerequisites to opening up a business is applying for general liability insurance in case of an accident at the workplace. But, these days many companies that now operate a website are also exposed to cyber liability risks. Should your business apply for cyber liability insurance? .
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FINANCIAL ADVICE

Do You Have a Buy and Sell Agreement With Your Business Partner?

By The BIDaWIZ Team on June 28th, 2012 at 3:00 pm

Many businesses that are owned and managed by multiple partners or family members do not have a plan in place should certain triggering events occur such as death or divorce. It is important to have a contingency plan to ensure a smooth transition at little or no expense to the existing owners. .
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TAX REPORTING

What the Supreme Court’s Health Care Ruling Means For Businesses

By The BIDaWIZ Team on June 28th, 2012 at 11:45 am

Chief Justice John Roberts laid down the law on Thursday with a swing vote in support of President Obama’s health care plan mandating coverage to all individuals. Those that do not fulfill the mandate will face a financial penalty in the form of a tax. But, what about small businesses? How are they going to be impacted? Read More.

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HIRING

The Substantial Rise In Employee Discrimination Claims

By The BIDaWIZ Team on June 14th, 2012 at 4:00 pm

Over the past five years, there has been a 32% increase in the number of individual discrimination claims filed by employees. Businesses of all sizes need to be aware of this trend and how to prevent issues as well as reduce their employment practices liability (EPL) costs. .
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TAX BREAKS

Is Your Business Taking Advantage of State Tax Breaks Too?

By The BIDaWIZ Team on May 24th, 2012 at 4:00 pm

Most businesses stay on top of changes to federal tax breaks such as bonus depreciation. Yet, very few know about the tax benefits offered at the state level which in some cases can yield significant savings. Is your business keeping track of all of the state-wide tax breaks available? .
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TAX BREAKS

Are Small Businesses Buying Into the Health Care Tax Credit?

By The BIDaWIZ Team on May 23rd, 2012 at 11:00 pm

A recently released report by the Government Accountability Office (GAO) indicates that many small businesses passed on the heath care tax credit. This is not a major surprise, but the numbers reveal a significant lack of participation. While 170,300 small business claimed the credit, around 1.2 to 3.8 million passed on the credit even though they were eligible. The total amount of credits claimed is equivalent to $468 million which translates to $2,750 per small business. Did your small business pass on the tax credit? .
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