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Tax Cheat Sheet for Small Business

Taxes are a big deal—especially for small business owners. The IRS can end up taking more than 50% of your Schedule C profit in ordinary income taxes and self-employment taxes. After all, the highest tax bracket is now 39.6% and the self-employment tax is 15.3%.

 

A tax professional can help you navigate the tax code and execute the best tax strategy for your specific situation. But there’s also a lot you can learn on your own, and the IRS supplies many resources, including a Small-Businesses & Self-Employed Tax-Center.  Click here to read the full Fox Business Article

 


 

Big Business Helping Small Business

Yahoo is following other tech companies recently to engage small businesses with the announcement that its revamped its online, e-commerce initiative, called Yahoo Stores.

 

Along with its current offerings for small businesses, including web hosting, domain names and website templates, the e-commerce platform touts itself as a way for business owners to start selling their wares within minutes. With the non-tech savvy in mind, the new product features an automatic mobile setup, along with the ability to pay Yahoo to create the small business’s online marketing. Web analytics are part of the package, too.  Click here to read the full Forbes Business Article

 


 

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1.2 Billion Usernames and Passwords Stolen

Hold Security described the hack as the “largest data breach known to date”.

 

It claimed the stolen information came from more than 420,000 websites, including “many leaders in virtually all industries across the world”.

 

Hold Security did not give details of the companies affected by the hack.

 

“They didn’t just target large companies; instead, they targeted every site that their victims visited,” Hold Security said in its report.

 

“With hundreds of thousands of sites affected, the list includes many leaders in virtually all industries across the world, as well as a multitude of small or even personal websites.”  Click here to read the full BBC Article

 


 

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7 Habits Of Highly Effective Entrepreneurs

Most investors like to say they would rather invest in an “A” entrepreneur with a “B” idea than a B-entrepreneur with an A-idea. I generally agree, but what constitutes an A-entrepreneur? They typically have domain expertise, operational experience and strong business acumen. They are driven, willing to take risks most wouldn’t (more on that another time), and optimistic almost (but not quite) to a fault. Yet, there is more. Click here to read the full Forbes Business Article


 

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ObamaCare Premium Increases

Health insurance premiums are going to skyrocket under Obamacare next year, maybe even double! No, wait — they’re only increasing a little, and less than before Obamacare! No, wait — they’re … decreasing in some places?

 

The crucial question about the second year of enrollment on the Affordable Care Act’s health insurance exchanges is: How much will coverage cost? Actual prices won’t be available in most states until the exchanges open Nov. 15, or shortly before that, so consumers are left to sort through political spin and preliminary reports that don’t make things any clearer.  Click here to read the full Huffington Post Article

 


 

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Congress Shows It Can Still Do a Deal

Washington may be a sea of dysfunction, but the current Congress is offering a few reminders about how a bill becomes a law: compromise.

 

That’s been in short supply as lawmakers have tried to tackle a surge of Central American youths entering the U.S. from Mexico and find a long-term fix to funding the nation’s highways.

 

And more compromise will be needed next month to keep the government open past September, renew expired tax breaks, reauthorize the Export-Import Bank and extend the government’s terrorism insurance program. After that, the coming retirement of veteran dealmakers like Reps. Henry Waxman, D-Calif., and Dave Camp, R-Mich., may only make compromise tougher.  Click here to read the full Fox Business Article