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Trusted Answers From Licensed Business Professionals
TAX REPORTING

Is Your Business At Risk For A Sales Tax Audit?

By Ryan Himmel, CPA on May 2nd, 2014 at 2:10 pm

Nearly half of state revenue is generated from sales tax sources. Specifically, general sales tax accounts for 30.1% of total state tax revenue and selective sales tax (liquor, fuel, tobacco) totaled 16.3% in 2013. As such, state regulators try to collect every dollar that is owed to them. This may mean that your business could be at risk should you not have the appropriate reporting processes in place to ensure sales tax compliance with the authorities. Fortunately, we recently had the opportunity to speak with Brandon Houk to learn more about how Avalara can help businesses with sales tax compliance. Read More.

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FINANCING

A Small Business Growth Story To Emulate

By The BIDaWIZ Team on April 25th, 2014 at 11:34 am

It’s not just New Yorkers that are crazed about bagels. Turns out, Oregonians are also very into their bagels and they let their top vendors know it. Recently, we had a chance to speak with the owner of Spielman Bagels to learn more about the company and its substantial growth over the past year. Read More.

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FINANCING

How Can You Expand Your Small Business?

By Ryan Himmel, CPA on April 18th, 2014 at 3:17 pm

Not accessing expansion-oriented capital could mean a missed opportunity to gain on their competition. More nimble business owners seize on that opportunity like Utica, New York based auto-collision and repair shop, Whitesboro Frame & Body. We had a chance to speak with Bill Chromczak, the President of the company, to learn how financing through Fundation has expanded his business. Read More.

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SMALL BUSINESS, TAX ISSUES

Your Chances Of Being Audited By The IRS May Have Decreased

By The BIDaWIZ Team on April 18th, 2014 at 2:48 pm

Most taxpayers can finally breathe a sigh of relief after filing their returns on time. However, many may still be a bit uneasy as the concern of a future IRS audit can always loom in the future. .
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FINANCING

What do I need to know when applying for a business loan?

By Ryan Himmel, CPA on April 11th, 2014 at 12:36 pm

The most important thing to understand is what your options are so you do not waste your valuable time pursuing financing alternatives that you may not qualify for or may not be right for you. There are a wide variety of loan products available, but there are significant differences between each option. Before pursuing any of these options, you should first define two things: 1) what are your plans for using the cash, and 2) what type of business you are and your perceived credit quality. Read More.

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FINANCING

Finally, A Real Lending Option For Small Businesses

By Ryan Himmel, CPA on April 3rd, 2014 at 9:44 pm

Despite the fact that small businesses continue to be the lifeblood of the US economy, traditional bank lenders have neglected this important segment of the lending market. Fortunately, innovative alternative lending platforms such as Fundation have come to market by offering loans that can be funded in days. Recently, we sat down with the two founders of Fundation, Sam Graziano and Doug Gordon, to learn more about their company and how it may be the best new way for service-based businesses to obtain financing. Read More.

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HIRING

Do Your Employees Hate Their Job Or Just You?

By The BIDaWIZ Team on April 3rd, 2014 at 9:44 pm

It’s typically very difficult for managers to keep all of their employees happy at all times. Having said that, it’s important to understand that most of the time when an employee decides to leave the company, it isn’t always because they don’t like their job. In fact, more times than not, their quitting because of their boss and the management team. Read More.

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TAX BREAKS

Tax Deductions For the Self Employed

By The BIDaWIZ Team on February 21st, 2014 at 7:12 pm

Whether you worked on a few side-jobs during the year or have your own business, it's important to make sure that you don't miss any tax deductions that are available for the self-employed. Make sure you review these key tax breaks. .
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MARKETING

Should My Business Have A Physical Presence?

By The BIDaWIZ Team on February 7th, 2014 at 7:24 pm

While we generally advocate offering brick and mortar businesses and services online, there are certain industries that are simply not ready for it yet. Many retailers in the high-end luxury items business fall under that category. Instead of selling solely online, we would recommend also having a physical presence for those industries. Here's why. .
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FINANCIAL ADVICE

Cash Flow Optimization To Purchase Capital Equipment

By The BIDaWIZ Team on February 7th, 2014 at 7:01 pm

You're facing a common problem for businesses that need to invest in capital equipment to grow. You know your business will grow if you purchase additional equipment to meet demand, but you simply can't afford it because you don't have enough cash flow. Most businesses in this situation should explore these three options: 1) Optimize revenue opportunities, 2) Streamline costs and/or 3) Seek outside financing/capital. .
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