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FINANCING

What Banks Review First When Evaluating A Business Loan Application

By The BIDaWIZ Team on May 18th, 2012 at 2:00 pm

Banks are still fairly risk averse when evaluating a small business loan application. Most loan officers will try to answer a few very basic questions before getting into all of the details. Can the borrower pay us back? Will they pay us back? Do they have sufficient collateral that we can obtain if they don't pay us back? The amount of cash the potential borrower has on their balance sheet will not sufficiently answer these questions. Find out what bankers review first on a loan application. .
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FINANCIAL ADVICE, MARKETING

What Small Businesses Need To Do Before Partnering With A Goliath

By The BIDaWIZ Team on May 4th, 2012 at 2:30 pm

Many entrepreneurs try to partner with a large company to distribute their product or service to the masses. But, this can often lead to two very different outcomes. Learn how to find the right partner for your business. .
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TAX REPORTING

You Will Soon Find Out How Expensive Your 401(K) Plan Is

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

The new 401(k) disclosure rules will soon provide employees with information about the fees and expenses connected to their 401(k) plans. The fees administrators charge plan participants has always been nearly impossible to identify and many employees mistakenly think their 401(k) is free. Read More.

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TAX REPORTING, VALUATION

Valuing a Non-Compete Clause When Selling a Business

By The BIDaWIZ Team on May 2nd, 2012 at 3:00 pm

Most business owners that plan to sell their company are asked by the buyer to include a non-compete clause in the legal agreement. This can have significant tax implications to both the seller and the buyer. .
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TAX REPORTING

Do You Recommend Setting Up An LLC or LLP?

By The BIDaWIZ Team on April 27th, 2012 at 4:00 pm

New businesses have many options to choose from when it comes to selecting a legal entity. It's nice to have options but business owners sometimes misunderstand the differences. Specifically, as it relates to LLCs and LLPs. .
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TAX REPORTING

What Is The Correct Amount of Sales Tax For Discounts & Groupons?

By The BIDaWIZ Team on April 27th, 2012 at 12:00 pm

Many retailers confuse state sales tax rules when discounted items come into the equation. Are you charging or being charged the correct amount of sales tax? .
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MARKETING

A Surprisingly Innovative Mailing Solution From The U.S. Postal Service

By The BIDaWIZ Team on April 20th, 2012 at 5:00 pm

Although the days of snail mail are dwindling, the US Postal Service still has some very valuable assets that are under-utilized. Surprisingly, they recently launched an innovative direct mailing solution called Every Door Direct Mail. .
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HIRING

Are You Motivating Your Employees With The Right Perks?

By The BIDaWIZ Team on April 12th, 2012 at 4:45 pm

Not every company can be like Google and offer their employees a campus filled with services like free haircuts and swimming pool access. But, there are definitely benefits we can all take away from the Google model and apply it to our own businesses. .
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BANKRUPTCY QUESTIONS, FINANCIAL ADVICE

Will My Credit Be Impacted If My Business Files For Bankruptcy?

By The BIDaWIZ Team on April 6th, 2012 at 1:00 pm

While bankruptcy rates are on the decline from a high of almost 61,000 fillings in 2009, there were still nearly 50,000 businesses that failed in 2011. If your business is on the brink of collapse, it is important to identify if your personal credit will be impacted by a bankruptcy filing. .
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FINANCING

Should I Seek A Business Term Loan Or A Line Of Credit?

By The BIDaWIZ Team on April 5th, 2012 at 10:30 pm

Most businesses just starting out or looking to expand or fill a production order, will need outside financing. Should they seek a term loan or a line of credit? .
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