Small Business

Video: Tax Credit for Small Business Owners

Posted on July 11, 2017 by admin

MENLO PARK — Host, Sarah Rutan: If you’re a small business owner, you’ll want to know whether you’re eligible for a 2015 tax credit. Today we’re in Menlo Park with Diamond Certified Expert Contributor Bob Vinal of Bay Area Health Insurance Marketing to learn more.

Diamond Certified Expert Contributor, Bob Vinal: I’d like to share a tip with how you can save your company thousands of dollars. The Affordable Care Act allocated funds for small employers to encourage them to offer their employees health insurance benefits. They want to do a dollar-for-dollar match for up to 50% of the premiums that you’ve paid. Ok, this can be a valuable benefit for qualified employers. Read more

Share
Leave a comment

Posted in:

Video: Avoiding Pitfalls with the Affordable Care Act

Posted on July 11, 2017 by admin

SANTA ROSA — Host, Sarah Rutan: If you’re a business owner, you’ll want to be aware of upcoming changes to the Affordable Care Act and how they will affect you. Today we’re in Santa Rosa with Diamond Certified Expert Contributor David Hodges of Vantreo Insurance Brokerage to learn more.

Diamond Certified Expert Contributor, David Hodges: Good morning. I just want to talk a little bit about the Affordable Care Act today because there are some pitfalls that you as a business owner can really fall into if you’re not careful or have good consultants. In fact, that’s a large reason why I’m a member of Diamond Certified is because they spend quite a bit of time making sure that we’re not only ethical, Read more

Share
Leave a comment

Posted in:

Tax Credit for Small Business Owners

Posted on July 11, 2017 by admin

MENLO PARK — If you’re a small business owner with less than 25 employees, you may be eligible for a tax credit you didn’t know about. Under the 2015 Affordable Care Act, a new program was instituted that rewards employers who offer (or continue to offer) health insurance benefits by giving them a tax credit equivalent to as much as 50 percent of the premiums they pay.

To qualify for this tax credit, your business must meet the following criteria: 1) you must have less than 25 full-time employees or their equivalents, 2) your employees’ average annual wages must be less than $50,000, 3) you must contribute at least 50 percent of your employees’ insurance premiums, Read more

Share
Leave a comment

Posted in:

Keeping in Compliance with the Affordable Care Act

Posted on July 11, 2017 by admin

SANTA ROSA — If you’re a small business owner, you understand the importance of financial organization. In the age of the Affordable Care Act, it’s more important than ever for businesses to be proactive about compliance with federal regulations, which is why you need to be aware of significant changes in 2015.

Extended waiting period
This year, the waiting period for new hires to be added to an employer’s health insurance has been extended from 30 to 60 days. This gives you the advantage of having more time to observe the performances of new hires before adding them to your company’s benefits plan, so be sure to make this adjustment at the time of your insurance renewal. Read more

Share
Leave a comment

Posted in:

Video: Learning About SCORE

Posted on July 11, 2017 by admin

SAN FRANCISCO — Host, Sarah Rutan: As a new business, you’ll want to prepare as best as you can before meeting with a CPA. Today, we’re in San Francisco with Diamond Certified Expert Contributor Charles Sterck of Sterck Kulik O’Neill Accounting Group, to learn about SCORE, a nonprofit association dedicated to helping small businesses.

Diamond Certified Expert Contributor, Charles Sterck: We have a lot of small businesses and new businesses that are setting out to start a business. It seems that they come to us from an array of starting points. For brand new businesses who have never done anything before, we often send them to SCORE. And every town has a SCORE, Read more

Share
Leave a comment

Posted in:

Small Business Tip: Utilize Local Resources like SCORE

Posted on July 11, 2017 by admin

SAN FRANCISCO — The vast majority of new businesses fail within the first year, often due to a lack of experience and knowledge of what it takes to stay afloat in a challenging economic environment. For this reason, it’s vital for new business owners to be proactive by taking advantage of available local resources.

For new business owners with little or no commercial experience, it’s highly recommended to consult a financial professional. However, professional assistance can be expensive—particularly for those who don’t know where to begin. Fortunately, there’s a resource for Bay Area small business owners who don’t have the budget for extensive professional assistance: SCORE.

SCORE is a nonprofit organization that serves entrepreneurs, Read more

Share
Leave a comment

Posted in:

How to Respond to an IRS Notice

Posted on July 11, 2017 by admin

SAN FRANCISCO — When an IRS notice arrives in your mailbox, your first inclination might range from having a panic attack to tossing it in the garbage. However, in most cases, an IRS notice is nothing to be afraid of (provided you don’t ignore it).

The first thing you should do is open the notice and find out what it’s about. The majority of notices have nothing to do with the dreaded word “audit”; they’re usually just simple questions that require your response. If the questions are confusing or you don’t have the information to answer them, you can take the notice to a professional. In any case, you need to deal with it promptly—it won’t go away if you ignore it. Read more

Share
Leave a comment

Posted in: