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Trusted Answers From Licensed Business Professionals
FINANCIAL ADVICE

How Should We Divide Equity Ownership Among Founders?

By The BIDaWIZ Team on March 21st, 2013 at 9:00 pm

There are many different ways to approach equity compensation for the founding team. Thus, there's not necessarily a one-size fits all answer to this question. However, we have some specific recommendations based on our experiences starting a company as well as advising many start-ups. .
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TAX SAVINGS

Time Is Running Out To Claim $917 Million in 2009 Tax Refunds

By The BIDaWIZ Team on March 14th, 2013 at 7:00 pm

Have you filed your 2009 tax return and claimed your refund yet? If not, you may be one of the 984,400 taxpayers that are owed $917 million in 2009 tax refunds. The IRS estimates more than half of the refunds are for at least $500. Read More.

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FINANCING

Should You Seek Venture Capital For Your Business?

By The BIDaWIZ Team on March 14th, 2013 at 10:00 am

If you're considering seeking venture capital funding, you need to perform a cost benefit analysis to determine whether or not a VC is right for your company. In addition, you need to incorporate your business and personal preferences into your analysis. .
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FINANCIAL ADVICE

What Should I Include In My Business Plan?

By The BIDaWIZ Team on March 7th, 2013 at 10:15 am

Naturally, every new business needs to follow a specific plan so that management can set goals and measure performance over time. Yet, new entrepreneurs too often fall into the trap of, "just getting the business started and worrying about everything else later on." Big mistake. .
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MARKETING

Should You Trademark Your Business Name?

By The BIDaWIZ Team on March 6th, 2013 at 6:00 pm

Many new business owners incorrectly assume that registering as a business entity with their state provides trademark protection. This is not the case. The business needs to file with the United States Patent & Trademark Office (USPTO) to obtain proper protection. Should you file? .
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TAX ISSUES

What You Should Know If You Plan To Fight An IRS Bill

By The BIDaWIZ Team on March 6th, 2013 at 5:00 pm

Most taxpayers understand that they are taxed on their worldwide income. However, most are too hesitant to fight a tax bill from the IRS that they may receive without merit. The most important aspect to note for fighting an IRS bill is to understand and follow appropriate procedures. .
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FINANCIAL ADVICE

How Should I Think About The Financial Model For A Business Idea?

By The BIDaWIZ Team on March 6th, 2013 at 3:00 pm

One of the first steps in launching a business idea is nailing down the financial model. Typically, the methodology for building a revenue forecast is easier than detailing the current and future expenses. By nature, entrepreneurs almost always under-estimate the amount it will cost to run and grow a business. How should you think about building a financial model? .
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TAX PLANNING

Ways To Mitigate 2013 Taxes on Estates And Trusts

By The BIDaWIZ Team on March 5th, 2013 at 8:40 am

The American Taxpayer Relief Act of 2012 had some far-reaching consequences to the taxation of estates and trusts. Most wealthy Americans have been focused on the rising personal tax rates at the $400,000 level for single filers ($450,000 for married filing jointly). However, the income threshold is a lot lower for estates and trusts. How much lower? Let's just say the top tax rate starts to kick in at only $11,950 for trusts and estates. What can advisers and beneficiaries do to mitigate these higher taxes? .
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SMALL BUSINESS

What Type of Success Should I Expect As An Entrepreneur?

By The BIDaWIZ Team on March 1st, 2013 at 2:00 pm

This is an interesting question and one that should be asked prior to ever diving into entrepreneurship. Far too often, this is a question an entrepreneur asks when they've already decided to become an entrepreneur. .
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INVESTING, TAX PREPARATION

What Are The New Cost Basis Reporting Rules For The 2012 Tax Year?

By The BIDaWIZ Team on March 1st, 2013 at 12:00 pm

Last year, the new cost basis reporting rules went into effect. This greatly impacted brokerage houses as well as taxpayers because of the time required to meet this new requirement. More paperwork is on the way. Specifically, in addition to stocks, you and your broker are now both responsible for reporting the cost basis of mutual funds shares, dividend reinvestment plans (DRIPs) and most exchange traded funds (ETFs) for the sale of such securities during the 2012 tax year. Read More.

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