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TAX REPORTING

Simpler Accounting Rules For Small Businesses May Be On The Way

By The BIDaWIZ Team on June 21st, 2013 at 2:02 pm

The 28 million plus small and mid-sized private companies that serve as a major growth engine for our economy may soon benefit from a simpler set of accounting reporting rules. Read More.

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SMALL BUSINESS

What Are The Best Books For Entrepreneurs To Read?

By Ryan Himmel, CPA on June 14th, 2013 at 4:24 pm

It's always a smart idea to learn from the knowledge and experiences of others. One way to do so is through books written by great leaders. Personally, I try to read as many business books written by different types of authors as possible. Before I reveal my favorites, I think it's important to note that while books are great to reference, nothing beats an in person meeting with another entrepreneur. .
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TAX REPORTING

What Can We Expect From The IRS Now?

By The BIDaWIZ Team on June 7th, 2013 at 10:49 am

The IRS has been under pressure recently from privacy concerns and accountability issues with internal spending. The Obama administration has taken action in removing the IRS commissioner that will be reviewing how the agency operates in the future. What are taxpayers to make of these changes going forward? Read More.

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FINANCIAL ADVICE

Selling Inventory When Closing a Business

By The BIDaWIZ Team on June 6th, 2013 at 10:02 pm

One of the toughest aspects of starting a business is knowing when it's time to call it quits. When that time comes the business owner needs to balance the trade-off for trying to get the most money for the company versus exiting quickly. It's very difficult to achieve both. However, it can be an easy decision if the business can no longer survive on its own. .
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SMALL BUSINESS

Should You Work In The Industry Before Starting Your Own Company?

By The BIDaWIZ Team on May 30th, 2013 at 9:29 pm

Most aspiring entrepreneurs think they need to follow a specific path to build the next great company. This isn't necessarily the case. Generally speaking, the best entrepreneurs share common traits and expose themselves to many different experiences that help them develop the necessary skills to effectively lead a company. Some of those experiences may occur over time at prior positions held at various companies. Usually, it's not something that is the result of an internship or entry level position. Does this mean you should work in an industry before going off on your own? .
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MARKETING

Is Live Chat An Effective Sales Tool For My Website?

By The BIDaWIZ Team on May 23rd, 2013 at 10:43 pm

Over the past five years, many companies have expanded their online sales tools to include a live chat feature to better cater to new and existing customers. While there are a plethora of service providers offering a whole host of useful features, whether or not it's effective may depend on your business and the purpose for using live chat. .
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SMALL BUSINESS

What Classes Should A Student Take To Become An Entrepreneur?

By The BIDaWIZ Team on May 22nd, 2013 at 6:46 pm

There’s no question that college is a great place to learn and experiment with different courses that may provide you with the skills and exposure necessary to pursue your venture. We recommend a specific approach. Read More.

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TAX REPORTING

Is Your Business Classifying Employees Accurately?

By The BIDaWIZ Team on May 17th, 2013 at 8:16 pm

Many businesses issue 1099 forms to workers because it's easier to manage for reporting purposes. They should be mindful that the rules rather than convenience dictates tax reporting requirements. Businesses that do otherwise can find themselves in big trouble during a tax audit. Is your business following the rules? .
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HIRING

Which Employees Should Your New Business Hire First?

By The BIDaWIZ Team on May 17th, 2013 at 6:59 pm

While the labor market isn't nearly what it needs to be to support significant economic growth, some small companies are beginning to ratchet up their hiring (source: National Federation of Independent Businesses - April 2013 Survey). Typically, when the job market recovers, it's small businesses that support the growth. Whether your company is in hiring mode or not, it's important to have a strategy to help grow it quickly while mitigating the mistakes. .
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MARKETING

How To Market Your Accounting Firm To Gain New Clients

By The BIDaWIZ Team on May 9th, 2013 at 9:46 am

Many accounting firms rely solely on word of mouth referrals and longevity to gain new clients. In today's technological environment, there are other effective marketing techniques that an accounting firm can employ without breaking the bank. .
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