Friday November 20, 2009

smSmallBiz.com - SmartMoney's Small Business Site

How to Price a Company

I own a company that I would like to sell in the next few years. However, I have no idea how to go about doing so or what price to put on it. Could you steer me to someone that could give me some help, or at least give me a value for my business?

Selling a Business Successfully

I know of a fantastic confection retail concept with one location that wants to sell but is having trouble in this economy, and cannot find any business brokers in her area. Are you aware of any small business resources that this owner could utilize to garner more attention ...

Reasons Against Gifting A Business to Minors

I gave my 16-year-old grandson a third interest in a small business, providing that his mother will exercise voting rights until he is of legal age. He now has better judgment than most adults I know. Is there good reason to change the status?

Will Advanta Lend Again?

Do you know if Advanta will resume lending in September or sometime thereabouts?

The Problems With Me, Inc.

We are extending our business into the field of online marketing. I'd like to name the company after myself, but I'm conflicted. Is naming a marketing firm after oneself OK? Is there a better strategy?

Can Offbeat Names Hurt Business?

Are you aware of a business name that has held a company back?

What’s In A Service Business Name?

I read your story "Quick Tips: 6 Tips for Names That Stand Out" with great interest. However, I’m still having trouble choosing a name for my consulting business. Can you please comment on how to arrive at a name if you own a service business?

Selling Your Trademarked Name

I own a boutique mineral water bottle business. However, I’m now looking to sell my company’s trademarked name. Is there anything business owners need to do besides sell their domain name if they wish to transfer naming rights? Also, how might I go about doing this?

Pros and Cons of For-Profits vs. Nonprofits

I am a social worker by profession. So, starting up a nonprofit makes the most sense to me. However, I truly believe that what I have to offer can be profitable and altruistic. I need some guidance, once and for all, so that I can really move forward with my business.

Fundraising for Nonprofits

I've been exploring starting a socially-conscious venture and weighing the benefits and limitations of for-profit and nonprofit firms. So I read with interest about VisionSpring's prospectus in your story: “Starting Up: Funding Your Social Venture.” Are you aware of their ...

In Entrepreneurship, Youth Has Its Advantages

After reading your story, "Starting Up: Older, Wiser Entrepreneurs," I certainly see the advantages that older individuals have in starting up a business. However, I’m wondering about the advantages a younger entrepreneur might have. Any thoughts?

'Small Business' Defined

What is the definition of a small business?

Finding A Company to Make Your Prototype

We've devised a comprehensive system of automotive aftermarket accessories for pickup trucks. However, we need to design and engineer a prototype. Can you help us to identify a facility that could provide such capabilities?

Attaining Legal, Bookkeeping Help

I am starting a limited liability company providing specialized training for the construction industry. I would appreciate any suggestions on shopping for a bookkeeper (and/or tax consultant) and a lawyer to help me set up the business.

Saving for Retirement: Better Late Than Never

I am a 47-year-old self-employed day-care provider and have no retirement savings. While my husband has a 401(k) plan through his employer, it has lost a great deal of value due to recent economic events. I would like to begin my own retirement savings account, but I need ...

Bonus Depreciation for Sole Proprietors

In the case of a sole proprietorship, can the first-year 50% bonus depreciation still be taken if it puts the business into a net loss situation? Also, can the loss then be used to offset and reduce tax liability on other income? The Section 179 deduction typically seems to ...

Angels and the Economy

Has the downturn caused angel investment to dry up? Also, how does a service company (such as a contractor) go about attracting angel investors?

Advantages of an LLC vs. S-Corp

A friend has suggested I form a limited liability company or an S corporation for my consulting work. I’m wondering about the tax advantages of either entity?

Reining in Corporate Tax Loopholes

Why is it that regular corporations earning up to $250,000 are taxed at a higher rate than corporations that make millions? Also, is the government planning to do anything about this inequality?

Avoiding Spam Filters

I use Microsoft Outlook for all my business emails. Since I send out emails with a photo signature of my company’s logo, am I risking winding up in customers' spam folders?

Estimating Start-up Costs

I'm thinking about starting a business. I have a few ideas, but I'm not sure what to do — or if I have enough money to get started. How much money do I need to open a business?

Writing Off a New Truck

I own a landscaping business in which I owe $25,000 in taxes for 2008. I currently drive a 12-year-old truck. If I bought a new one, could I write it off to lessen my 2008 tax burden?

Landing An SBA Backed Loan

While I’d like to take advantage of the generous SBA loan guarantees authorized by the Stimulus Bill, I’m worried about being penalized because I don’t have any existing loans. How does this work?

Picking a 401(k) Provider

Our We’re not comfortable with this firm and would like to switch. How do we find out if a company is legitimate?

How to Attract Elderly Clients

I run a non-medical companion care company. While I have no problem getting caregivers to work for me, getting in-home clients to use our services is a constant challenge. Do you have any suggestions for how I might obtain more clients?

Pros and Cons of Multiple Employer Welfare Arrangements

What would happen if a group, say five to six small businesses, got together and contracted with an independent clinic/physician to provide their non-hospital health care? Many large companies who are self-insured are going to a similar model.

Manufacturing On the Cheap

I am an inventor with a product that will be of interest to pet owners with aging pets. Are there any lower-cost manufacturing firms that I might tap to make my product?

Finding US Manufacturers

What is the best resource you have found for identifying friendly manufacturers for start-ups in the U.S.?

No Profits Yet? You Still Need to File Taxes

I started an online business recently, which I’ve sunk a lot of money into. I haven’t made a dime yet. Do I still have to file business taxes?

Expensing Your Commute

I’m self-employed and receiving a 1099-MISC for my income, can I deduct commuting expenses on my Schedule C for my commute between my home and my job?

LLC Owner Protections Not Unlimited

Can forming a limited liability company protect my personal assets from being liable for business debts? Is there ever a situation when my personal assets aren’t protected?

Resale Certificates Explained

I have a business with a Nevada address, and manufacturing operations with a California address. Do I need a resale certificate in California?

Charitable Layoff Plan Could Draw Ire of IRS

Rather than lay people off, can I volunteer our employees for charity work, pay them normally, and submit their payroll dollars as a tax write-off?

Converting a SIMPLE IRA to a Roth IRA

I have a SIMPLE IRA that I want to transfer to a Roth IRA, what are the qualifications for doing so?

Failure to File a Business Return

I didn't know how to file a return for the business last year since I had losses, so I didn't file at all. What should I have done?

Demystifying the 50% Bonus Depreciation Allowance

Thanks to the Stimulus Bill, some business owners can take advantage of a 50% bonus depreciation allowance in 2009.

Filing Two Tax Returns

My husband is a partner in an LLC and received a W-2 from his regular job. Must he file two tax returns?

Home Office Taxes

I have a home office. Will I have to pay taxes on it if I sell? What happens if the home sells at a loss?

Restructuring an LLC

My dad and I own an LLC together, but he no longer wants to play role in it. Do I need to shut down the business and start over, or can I restructure the company?

S Corp Status Snafu

I mistakenly filed my taxes as a sole proprietorship rather than an S corp this year. Does this filing change my corporate status?

Do You Have a Small Business Question?

Send us an email at Editors@smSmallBiz.com and we'll try to answer it for you. (Due to the volume of questions we receive, we are not able to answer all questions. Questions that are selected for publication may be edited for length and clarity).

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