So this year instead of going out to the mall and buying something random.  Why not make this year different.  Buy gifts with a social message attached to them.  There are many non profit companies that make items that benefit society. Shopping at these retailers creates a demand for goods that are free trade, meaning that the goods and products are made without any human trafficking or slavery.

Most of the organizations that produce products that are sold in the U.S. are made from the people that the organization wants to help.  For instance, I just bought a beanie from Krochet Kids.  Krochet Kids was started from by a few guys who knew how to crochet and when one of them went to Uganda, he had an idea to sell beanies made from women who need the work.  The organization puts women to work and allows them to get out of the cycle of poverty that many are in.

Many of the items that are bought are clothes and jewelry.  A friend of mine started Freedom and Fashion, an organization that puts on an annual fashion show to highlight the organizations that are making jewelry and clothes.  These manufacturers are making these products that are free of human trafficking, modern day slavery, and other human rights issues in mind.  They just recently had their second show and was a huge success.

So this holiday season, do something out of the norm and buy something that will make the world a better place.

A controversial list of cuts proposed by Obama's debt panel hopes to cut about $4 trillion from the U.S. deficit over the next 10 years.  The report for cuts is uncompromising in that both sides the left will not like the spending cuts and the right will be unfavorable to revenue increases.  

The $4 trillion dollar cut would come from a majority of spending cuts while the other will come from a reduction of tax breaks.  The report basically says that this country can't afford to spend more than it takes in.  Something that most households already knows but somehow the federal government doesn't seem to grasp this concept. 

In order for the commission to make the official recommendations to Congress, the panel of 18 members would need 14 members to approve it.  Currently, the panel only has 7 yes votes.   It is expected that the commission will fail to generate the necessary votes to submit the recommendations to Congress.  This is another example of wasted money and time in the federal government.

We are quickly approaching the end of the year.  Many will wonder whether its best to file a new Corporation now or wait till 2011.  The answer to your question may not be very clear.  It may come down to taxes and the best person to ask about when to file could be your accountant. 

Filing now may be beneficial if your business will benefit from tax related deductions.  However, many may opt to file at the start of the new year just to make things easier and a more symbolic gesture as to when the company starts.

There are many advantages and disadvantages to go into on whether it is best to start a corporation now or wait till 2011.  It really comes down to a personal choice on the matter.  There may not be a compelling reason to file now vs. later. 

Consult some professionals on when the best time for you to file and then you can contact us at 866-999-8200.

Thats the question many Repbulicans are questioning.  They argue that most of the people that would be affected by extending the tax cuts are small business owners.  They feel that extending cuts would enable business owners to invest more into their company.  However the problem is that a lot of small business owners don't make $250,000 or more per year.  The Democrats contend that giving tax cuts to the rich will not erode the economy. 

Many of the business today are sitting on cash because they are uncertain of the future.  Companies are not willing to hire until a much clearer picture of where the economy is going develops.  Companies that are making money and the owners who run them say they would make different decision based on if the Bush tax cuts are not extended. 

Over the last few decades, changes to the tax code has many companies reporting their income on the individual income.  A S Corp filing with the IRS allows corporations to report their income on personal tax returns.  This means that companies making millions of dollars, those millions of dollars are being reported on individual tax returns.  Corporation are not getting taxed anymore as they did before with C- Corps.  Therefore the argument is that the companies making millions of dollars are not being funneled back into the company because the individuals are getting taxed more.

The response to this is that these rich individuals could in fact pay themselves less and invest the saved money back into the company.  Therfore the impact of the Bush era tax cuts that are expring will probably not effect the company.

Citi  is a the top bank world-wide when it comes to big business banking. As of now, Citi bank has a corporate client list of 2,500 out of the 3,000 top corporations globally. While it's clear that Citi has dominated the big corporate market, their CEO, Vikram Pandit, just announced that the company will be hiring 200 bankers to target the small business market. Small business to Citi means any business with less than 20 million in annual sales. The bankers should all be in place by the end of 2011. If you have questions about starting your own small business, we can help in all aspects, from incorporating to creating a website, give us a call at 866-999-8200.

American Express is giving away free Facebook advertising for small businesses as part of their Small Business Saturday promotion. If there was ever a time to start a corporation of form an LLC, the time could be now, this isn't the first time American Express has decided to help out the small business community and it seems to be a growing trend among banks and credit companies. For this campaign, American Express is providing the first 10,000 business who sign up for the program, $100 in Facebook advertising. The promotion also is giving $25 to American Express users who vow to use their cards towards small businesses on November 27th, Small Business Saturday. Being tied in with the Facebook portion of the promotion, Amex is also giving away $1, (up to half a million dollars) for every "Like" they get on their Small Business Saturday page, to Girls, Inc., a charity that helps teach young women to succeed in business.

Times are tough and many businesses out there are struggling to survive.  Many unfortunately are going out of business simply because there isn't enough customers to keep their business going.  In this case, if you're running a corporation or a LLC, it is important that you file for a dissolution with the state.  A dissolution, is the opposite of forming your corporation by submitting articles of incorporation or oganization.  Articles of dissolution must be submitted to the state to terminate the existence of your business.

With the filing of the Articles of Dissolution, fees may be involved to submit these forms to the state.  Failure to submit these forms to the state may result in you paying fees for having a company that is still active.  In most state, failure to pay these fees may result in an automatic dissolution with the state.  In California, failure to submit the articles of dissolution, may require you to pay the minimum franchise tax of $800.  Therefore it is important that you file these documents.

Once business gets better,  most states may reactivate dissolved companies however you will most likely need to refile articles of incorporation to reinstate the company.  One thing to note about this is that some states require a corporate name to be dissolved for a certain period of time, usually a year to five years for the same name to be used again.  So you may need to change the name of the corporation if this happens.

We can help you with your dissolution filing. Please contact us today.

In business it's important to have a great product or service with a high demand. Recently, pop star, Madonna announced that she was going to open up a chain of gyms worldwide, starting with Mexico City. Though Madonna is known for her toned physique, it's a bit of a risk to start a huge chain, rather than growing your business slowly. Popularity of a proprietor does not always guarantee business, and though the views of Madonna and her advisors are probably optimistic, it's not very often that a celebrity succeeds at launching their own product. There are countless examples that have done far less than expected, from clothing lines by Snoop Dogg (who also dabbled in toys for real dogs), Kanye West and Eminem, to restaurants like Kenny Rogers Roasters (who lost steam in the US but still have some notoriety in some Asian countries). Obviously there are exceptions, such as Sammy Hagar's Cabo Wabo Tequila and Gwen Stefani's LAMB line, though it seems the exceptions are never thought of as a side project, or they get just as much attention as their owner's main projects. Another aspect of the successful celebrity-owned businesses is that most don't seem to focus on the celebrity, Sammy Hagar focuses on making a good tequila, the celebrity name is not part of the brand. Only time will tell if Madonna's Hard Candy Gym will be a success, but history has proven that a celebrity face doesn't make a business successful.

Today is November 2nd, and what that means for Americans is that it's time to vote. As small business owners, it's important to take a look at the candidates in your area as well as the propositions, as they might have great affects on the way your business is taxed. Small businesses feel the most when it comes to new laws, especially tax laws, because it can trickle down into the way a business hires new employees, which also affects the economy. Be sure to get out there and vote today!

Getting your business started can be a slow laborious process.  You need capital but don't have the resources to get it.  One of the few places that you may try to get funding is the Small Business Administration.  The SBA caters to small business and its goal is to get small businesses off the ground.  Banks and other lending institutions are offering loan packages geared to small business. The unique thing about the SBA is that even though banks will call it a SBA loan, the SBA doesn't really loan any money.  What they do is that they guarantee the money in the event of a default.  So the bank is protected in loaning out money to small business.

There are many different types of loan packages that the SBA does offer.  The name of the loan program is the 7(a) Loan Program. The loans are specifically for start ups and small business who want to get started but with little or no funding.  The SBA website has a lot of information on the different types of loans available to you depending on the general purpose of the small business.  Check it out if you're in need of a small loan to get started.  It is one of the best sources of funding for small business anywhere.  Many banks are still hesitant to lend out their own money so a guaranteed loan from the SBA may be the way to go.  However, you still have to qualify.