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MARKETING

How Can You Sell Your Product To Big Brands?

By The BIDaWIZ Team on August 16th, 2013 at 5:43 pm

Once you've developed a new product, you need to start thinking about distribution. It's okay to think big with hopes of distributing your product to the masses via a big box brand. However, gaining their attention and trust isn't so easy. Still, there are certain steps you can take to help you reach your goals. .
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HIRING

Are You Paying Your Employees Enough?

By Ryan Himmel, CPA on August 16th, 2013 at 5:08 pm

We recently contributed an article to Entrepreneur Magazine in which we examine the factors that employers should consider when assessing employee compensation. Read More.

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TAX REPORTING

S Corporation Owners At Risk For Unreasonable Compensation

By The BIDaWIZ Team on August 16th, 2013 at 4:43 pm

The Tax Court recently ruled on a case that once again was in favor of the IRS's conclusion that the S corporation owner paid himself an unreasonably low salary. While this ruling supports other cases, the Tax Court provided more color to this seemingly ambiguous area of tax law. S corporation owners need to know how this ruling may affect their compensation practices. .
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TAX REPORTING

Thousands Of IRS Notices Were Recently Sent To Small Businesses

By The BIDaWIZ Team on August 15th, 2013 at 5:59 pm

A couple of years ago, we had warned small businesses of the potential issues that could arise from the new 1099-K form reporting requirement. It didn't take long for the IRS to send notices to 20,000 small businesses indicating that they may be under-reporting income. What should you do if you receive this notice now or in the future? .
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NEGOTIATION

Homeowners Be Prepared For Property Loss Due To Adverse Possession

By The BIDaWIZ Team on August 9th, 2013 at 1:37 pm

Whether you've owned a home for years or are a recent buyer, it's important to know whether or not you have full use of the property you originally purchased. Without a proper land survey, you won't know if a neighbor may be squatting on your property or vice versa. .
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SMALL BUSINESS

Are Licenses And Degrees Necessary To Become An Entrepreneur?

By Ryan Himmel, CPA on August 9th, 2013 at 11:36 am

While there are many different ways to prepare yourself to become an entrepreneur, we recommend focusing on opportunities that help you develop key qualities. Most entrepreneurs share these traits: imagination, courage, integrity, leadership, work-ethic and accountability. Pursuing a professional license or graduate degree can only help with building on some of these qualities. Here's how. .
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FINANCING

Online Lending Alternatives For Small Businesses

By Ryan Himmel, CPA on August 2nd, 2013 at 8:39 am

We recently contributed to Entrepreneur Magazine by providing an analysis of the alternative lending market for small to mid-sized business. Read More.

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MARKETING

Identifying The Best Location For Your Business

By The BIDaWIZ Team on August 2nd, 2013 at 7:45 am

Location can play an important role in determining the success or failure of an early-stage business. This is why you should spend time planning and analyzing locations to find the right one. With that said, you need to incorporate a strategy in your search. .
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SMALL BUSINESS

How Do I Take A Business Idea To Market?

By The BIDaWIZ Team on August 2nd, 2013 at 12:03 am

In many respects, coming up with the business idea is the easy part when starting a business. Successfully executing on that idea to create a viable and sustainable business is the hard part. If you happen to have already developed a prototype, then you're a step ahead of most other entrepreneurs at this stage. Theoretically, you've already defined a problem in the market and have created a solution. However, there is still much work to do and steps to follow to increase your chances of success. .
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SMALL BUSINESS

What Are The Characteristics Of A Long Lasting Company?

By The BIDaWIZ Team on July 26th, 2013 at 4:46 pm

Whether your company is a startup or a large publicly traded entity, there are certain characteristics that any management team can follow to improve their chances of building a long lasting business. Most of these traits go unnoticed or are ignored since 50% of new businesses last 5 years and less than 33% make it past year 10 (source: Bureau of Labor Statistics). .
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