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How to Save Thousands with an S CorporationHow to Save Taxes with an S CorporationEver wondered why so many small businessesmore than 3,000,000 at last countoperate as an S corporation? Simple. An S corporation saves business owners big taxes in three separate ways:First, as compared to regular corporations (sometimes called C corporations), S corporation owners can use the businesss losses incurred during the early lean years on the owners personal returns as deductions. For example, suppose a new S corporation suffers a $20,000 loss its first year and that the corporation is equally owned by two shareholder-employees, Smith and Jones. Smith and Jones each get a $10,000 business deduction on their individual tax returns because of the S corporation loss. This $10,000 deduction might save them each as much as $4,000 in federal and state income taxes.A second, big S corporation benefit: As compared to almost every other business form, S corporations can save their owners self-employment or Social Security/Medicare taxes. Suppose, for example, that Adams, Brown and Cole independently each own businesses that make $90,000 a year in profits. Each business owner may pay $13,000 in income taxes. But, unfortunately, thats not the only tax they pay. Each owner also pays self-employment or Social Security/Medicare taxes.For example, Adams operates his business as an LLC and therefore pays 15.3%, or roughly $13,500, in self-employment taxes on his profits.Brown operates his business as a C corporation which pays all of its profits to him as a salary. Accordingly, Brown (through his corporation) also pays 15.3%, or roughly $13,500, in Social Security and Medicare taxes.Coles situation is different. Cole operates his business as an S corporation which means that Cole can split his $90,000 of profits into two payment amounts: salary and S corporation distributions. Suppose that Cole says only $40,000 of his profits are salary and takes the other $50,000 as a dividend distrbution. In this case, Cole pays the 15.3% Social Security/Medicare tax only on the $40,000 in salary. Cole therefore pays roughly $6,000 in Social Security/Medicare taxesand annually saves $7,000 in taxes as compared to Adams or Brown.S corporations also, sometimes, provide a third form of tax savings because S corporations dont pay corporate income taxes. This means that S corporations avoid the often-talked about double-taxation problem. However, the no corporate income taxes benefit often isnt a savings for small corporations and their owners.But let me explain. Suppose that two corporations each earn the same pretax profit of $100,000 and are owned by Ms. DaVinci who pays the highest federal income tax rate of 35%. One corporation is an S corporation and the other is a C corporation. The S corporation can distribute the entire $100,000 in profits to DaVinci as dividends because there is no corporate income tax. DaVinci then pays $35,000 in personal income taxes on the S corporation profits, which means she nets $65,000 in after-tax profits from the S corporation. In comparison, the C corporation cant pay the entire $100,000 in profits to DaVinci. The C corporation first pays $22,250 in corporate income taxes. When the C corporation pays the remaining $77,750 to DaVinci as a dividend, DaVinci pays another $11,663 in 15% dividend taxes on the C corporation profits. This means that DaVinci nets roughly $66,000 in after-tax profits from the C corporation profits. In this case, DaVinci saves money with a C corporation in spite of having to pay the corporate income tax.How to Get S Corporation BenefitsTo create an S corporation and receive S corporation tax savings, you need to do two things: First, you must incorporate the business either as a regular corporation or as a limited liability company. Second, https://rentry.co/koxqqouh you need to make an election with the IRS to have the corporation or LLC treated as an S corporation. The S election is made with form 2553, available from the www.irs.gov web site. Note that some states (such as New York) require a separate state S election.A final tip: S corporations can save you thousands of dollars annually, but your tax savings cant start until you elect S corporation status. If youre interested is electing S status to save on taxes for next year, you may want to call your tax advisor or attorney right now!

Rich Jerk – Are You Absolutely SURE?Do you want to be a millionaire, no a billionaire??!! This hour? This very minute? I’m sure you know the answer to the question. However I’m sorry to break it to you, but its not going to happen in this world we live in. At least not for 99.999% of us. Good. Now we have established that, in order to be a millionaire or indeed a billionaire you need to work, be smart and work some more. If somebody tells you otherwise you should put a smelly sock in his mouth!It is important that you must also approach any possible internet venture or online money making idea with this level of comprehension. The strange thing Ive discovered that that with most “follow my lead and make money” program, most of it is actually the TRUTH! Yes! The actual Truth! If you follow it step-by-step, word-for-word I can solemnly say that I can guarantee your success. GUARANTEED!!!The bump in the road is, most of it is put in a very simplistic way to make it seem easy, but make no mistake, If you truly want to make money online as a e-business, not a freelancer, you will have to invest a small amount of money (very small compared to brick and mortar businesses anyway) and some time to actually understand the whole process and make use of it work in your favor.Rick Jerk’s book is one such book. He provides you with all the tools to actually succeed online, however he gives it to you with a sledge hammer on the head. I’d say at most only 10% of all the people who buy the e-book would actually implement his methods to earn some internet money. This is definitely not Rich Jerk’s fault! A lot of people buy these e-books plainly for “Hope”, the hope for a better future, but aren’t disciplined enough to follow through and put in the hard hours and brain power to see it succeed.So now where are we? Bearing in mind that the path is already set, we need to find out the level of determination that is required for you to actually follow through with these money making steps. If you are determined to make a success of the internet, these e-books will be absolutely INVALUABLE in their ability to show you the way to the Money. Just make sure you have enough disciplinary fortitude to follow through and you will see a very bright end.I have looked through a few e-books, some were worth their weight in gold and some were just rehashed ideas from forums such as http://www.webmasterworld.com. I have identified two invaluable e-books that would bring the true entrepreneur the his/her successful ends providing of course that he/she https://spencerwmrb284.theglensecret.com/entrepreneurial-failure-get-used-to-it follows through with the e-books and implements all that is suggested methodsPlease have a look at what I deem to be the best books on the internet in terms of guiding the internet entrepreneur to success at http://www.richjerkscams.com

Build Your Business With Four Easy StepsCreating a successful and profitable business is no easy task. Its reliant on many outside factors, including competition, timing and demand, which you have very little to no control over at the beginning. Assuming all of these outside factors are in your favor, having a sound business plan can lead to having a successful business. Here are five steps to consider when youre building your business from the ground up: 1. Determine your business. What are you selling?This question isnt as easy to answer as you may think. For example, Nike is in the sportswear business, but the truth is that when you buy a pair of Nike shoes and a t-shirt at the mall youre buying a lot more than sportswear youre buying an image, a feeling. You’re buying the Nike brand. Richard Thalheimer, the former CEO of The Sharper Image and the founder of RichardSolo.com, has worked in specialty retail for more than 30 years. When asked what business hes in, hell tell you convenience or “innovation” before he specifies any particular industry, and he’s built one of the most powerful brands in America. Keep in mind, theres more to a product than, well, the product. Your brand is what sets your product apart from your competitors. 2. Select your market. Who are you selling to?This step is a bit less interpretive as the first, though equally important. Who are you selling to? or more importantly, what do you know about this person? Understanding your consumer is a key to success. What do they do? Where do they hang out? What do they watch on television? These are just a few of the questions that you should be able to answer about your consumer. Knowing the answers to these questions can answer a lot of questions of your own when it comes to a devising a marketing strategy. Richard Thalheimer understood his market for The Sharper Image, probably as well as they understood themselves. From an article in the LA Times, Tracy Wan, who was president and chief operating officer under Thalheimer says “Richard has the amazing ability to figure out the things that people want to have.” This ability to perceive your consumer’s desire can only be a result of knowing them like your neighbor. 3. Create a marketing strategy. How do you speak to these people?This is a culmination of understanding your brand and your consumer. As mentioned in number two, understanding your consumer can answer a lot of questions concerning your marketing strategy: Where should you advertise? What’s the voice of your brand? What kind of prices are reasonable for this demographic? In order to engage your consumer, a.k.a. sell your product to them, you must know where your advertisements will be noticed, how to speak to them, and how much they will be able to spend, among many of things. Really, this step should have been combined with the last because who your market is dictates your marketing strategy entirely. 4. Learn by example. Seek advice from those who have done it.There are many books written by professionals who have already started their own business and have been successful in doing so. One that comes to mind immediately, as we’ve already mentioned him a couple of times, is Richard Thalheimer. “Creating Your Own Sharper Image” shares the story of how he grew his tiny office supply company, The Sharper Image, into the thriving enterprise that it has become today. Remember, building a successful business in not all about the dollars and cents. Equally as valuable is you brand equity and your ability to engage your consumer, which is only attainable by understanding them. Assuming there is a demand for your product, and you can compete https://jasperxifg653.lowescouponn.com/dare-to-be-different with the other brands, following these four steps shall guide you in the right direction.

Dare To Be Different!Adding value https://spencerxily369.timeforchangecounselling.com/the-week-in-review to your site, service, or product is one of the most over looked and under rated strategies for improving your internet business.The internet and modern technology makes it possible for anyone to offer that little something extra that nobody else does, and usually at no additional cost.Why: First, lets look at why this is a good business practice.Its a good thing to do because you will make more money!What: Now lets look at what value adding is!Value adding is giving surprise high quality and useful gifts.Its giving something that your competitors arent offering.Its promising the world and delivering the universe.Its taking care of your clients and always providing something that your clients need and want, when and where they want it.How: Now lets look at the different ways we can do this.If you receive a free gift from someone when you dont expect it, do you remember that person?Answer; yes usually.How can we do this?Look at the example below for an idea!If you subscribe to a news letter or ezine, what do you expect?You expect to get what you subscribed for, right?Now imagine that you subscribed for a newsletter that distributes information about Poodle breading in France, and when you open the conformation email you find youve also received a free ebook containing 20 poodle grooming tips and Grandmas secret poodle pampering techniques. (a book that normally sells for $29)Wouldnt that make you more likely to open and read the next issue and the next etc?Thats one simple example, but where do you get the ebook from? You make it! If you are distributing a poodle breeding newsletter, you might know something about grooming, or know some people that could help you put together the necessary information. Then you can wrap that up in an ebook cover and then send it around to a variety of sites that will post it for you for free and you can sell on your own site, if you have one. (I can see that there are several more articles just on making e-books, posting them on other peoples sites, and setting up a shop front.)Back to the Poodles! So you can see that by offering this free gift you have achieved several things.1. You have developed a product (at no cost to you) that you can sell and make a profit on.2. You have used that product to increase the chances of your new subscriber opening your next email.3. You have promoted you site/service to other internet marketers that you may wish to do a joint venture with at some time. (see my article on Joint ventures)Another way to add value for less effort is to offer a 110 percent guarantee instead of a 100 percent.Another is to make your 20 tips into 30 or more etc, get the idea? Its all just a matter of finding ways that you can give more.The more you give the more you will receive.

How to Save Thousands with an S CorporationHow to Save Taxes with an S CorporationEver wondered why so many small businessesmore than 3,000,000 at last countoperate as an S corporation? Simple. An S corporation saves business owners big taxes in three separate ways:First, as compared to regular corporations (sometimes called C corporations), S corporation owners can use the businesss losses incurred during the early lean years on the owners personal returns as deductions. For example, suppose a new S corporation suffers a $20,000 loss its first year and that the corporation is equally owned by two shareholder-employees, Smith and Jones. Smith and Jones each get a $10,000 business deduction on their individual tax returns because of the S corporation loss. This $10,000 deduction might save them each as much as $4,000 in federal and state income taxes.A second, big S corporation benefit: As compared to almost every other business form, S corporations can save their owners self-employment or Social Security/Medicare taxes. Suppose, for example, that Adams, Brown and Cole independently each own businesses that make $90,000 a year in profits. Each business owner may pay $13,000 in income taxes. But, unfortunately, thats not the only tax they pay. Each owner also pays self-employment or Social Security/Medicare taxes.For example, Adams operates his business as an LLC and therefore pays 15.3%, or roughly $13,500, in self-employment taxes on his profits.Brown operates his business as a C corporation which pays all of its profits to him as a salary. Accordingly, Brown (through his corporation) also pays 15.3%, or roughly $13,500, in Social Security and Medicare taxes.Coles situation is different. Cole operates his business as an S corporation which means that Cole can split his $90,000 of profits into two payment amounts: salary and S corporation distributions. Suppose that Cole says only $40,000 of his profits are salary and takes the other $50,000 as a dividend distrbution. In this case, Cole pays the 15.3% Social Security/Medicare tax only on the $40,000 in salary. Cole therefore pays roughly $6,000 in Social Security/Medicare taxesand annually saves $7,000 in taxes as compared to Adams or Brown.S corporations also, sometimes, provide a third form of tax savings because S corporations dont pay corporate income taxes. This means that S corporations avoid the often-talked about double-taxation problem. However, the no corporate income taxes benefit often isnt a savings for small corporations and their owners.But let me explain. Suppose that two corporations each earn the same pretax profit of $100,000 and are owned by Ms. DaVinci who pays the highest federal income tax rate of 35%. One corporation is an S corporation and the other is a C corporation. The S corporation can distribute the entire $100,000 in profits to DaVinci as dividends because there is no corporate income tax. DaVinci then pays $35,000 in personal income taxes on the S corporation profits, which means she nets $65,000 in after-tax profits from the S corporation. In comparison, the C corporation cant pay the entire $100,000 in profits to DaVinci. The C corporation first pays $22,250 in corporate income taxes. When the C corporation pays the remaining $77,750 to DaVinci as a dividend, DaVinci pays another $11,663 in 15% dividend taxes on the C corporation profits. This means that DaVinci nets roughly $66,000 in after-tax profits from the C corporation profits. In this case, DaVinci saves money with a C corporation in spite of having to pay the corporate income tax.How to Get S Corporation BenefitsTo create an S corporation and receive S corporation tax savings, you need to do two things: First, you must incorporate the business either as a regular https://shanekehp493.cavandoragh.org/retirement-plans-for-solo-entrepreneurs corporation or as a limited liability company. Second, you need to make an election with the IRS to have the corporation or LLC treated as an S corporation. The S election is made with form 2553, available from the www.irs.gov web site. Note that some states (such as New York) require a separate state S election.A final tip: S corporations can save you thousands of dollars annually, but your tax savings cant start until you elect S corporation status. If youre interested is electing S status to save on taxes for next year, you may want to call your tax advisor or attorney right now!

Ideas For New Products And InventionsHow many new products and inventions can you dream up with in thirty minutes? At least a few if you know the techniques of innovation and creative problem solving. The following are thirty minute’s worth, with some notes at how they were arrived at.New Products and Inventions From OldA fast way to invent new things is to start with existing concepts and find new applications. With the concept of inflatable things, the first thing that comes to my mind is inflatable shelters for emergency situations, such as after earthquakes or hurricanes. Such shelters could be transported easily, and erected quickly with a simple air pump. A basic large tent design, but with inflatable ribs instead of poles might work.We can always find new products and inventions for babies. Inflatable cribs or playpens come to mind. Deflated, they could be folded up and stored almost anywhere. A simple design for a playpen might be a plastic floor with a simple wall that surrounds it and is attached to it. Think of air mattresses for swimming, set on their sides, connected end to end and wrapped into a circle and you’ll get the idea.When we used to go “tubing” down rivers in Michigan, we were forever trying new ways to carry a cooler with us while keeping it convenient to get a soda or beer out of it. A solution could be an inflatable bar. It https://gunnerqjjj410.theburnward.com/easy-invention-ideas might have a cooler built into it, have can and glass holders, and maybe even a secure place to set snacks. It could be used in a pool, lake or river.Many people drive into water and die each year. One solution to this problem might be inflatable flotation that is activated when the car begins to sink. They would quickly inflate in an accident involving submersion, and would keep the car afloat. Put one in the trunk, and another inside the car, or have them come out from the wheel wells. To avoid accidental inflation, the triggering device would be activated by water, but be in a place where rain and car washing water couldn’t reach.Vending Machine Products and InventionsWhen I considered the concept of vending machines, the first thing that came to mind was a beer machine. It could only be used in a bar that was restricted to adults, of course. A big benefit is that it would lessen the need for bartenders, since half of all the drinks sold in a bar are just simple beers. It is an innovation that could be implemented tomorrow, using beer in cans in existing pop machines.A vending machine for books and magazines might do decent business in an airport, bus station or other places where people are forced to sit for hours. They may already exist, but I haven’t seen them yet. Add some padding to the drop chute, and existing snack vending machines could be used.They sell phone cards everywhere now, but I haven’t yet seen them in vending machines. You could also sell those collapsible umbrellas from a machine. There are dozens of other things that could be profitably sold from vending machines. Use simple techniques like this extension of existing concepts, and there are also thousands of other new products and inventions waiting to be made.

Taking a Page from Richard Thalheimer’s BookWhile large specialty retailers and department stores have the liberty of offering huge sales, discount items, and unbelievable warranties, there is something lost in the homogenous consumer experience. Employees are often unknowledgeable, un-invested and are willing to sell you anything, so long as it translates to a sizeable commission. The days of the corner store are over, but a former specialty retail mogul wants to bring them back. https://blogfreely.net/paxtunpddu/be-a-rich-jerk Richard Thalheimer, the creator and founder of The Sharper Image, founded RichardSolo.com in 2007 after his departure from the specialty retailer. RichardSolo.com is a new online store where you can find the latest gadgets, unique gifts and luxury items. This online boutique also specializes in unparalleled customer service with your every purchase. Thalheimer broke into merchandising in 1977 with a startup that began as a part-time office supply business. Soon, he began to sell more consumer-oriented items, including his breakthrough product a runners watch. In time, this small office supply business would become what The Sharper Image is today a 190-store, 2,600-employee giant. After his departure from the company in 2006, Thalheimer went to work on RichardSolo.com. He started the site with one goal in mind: to create an alternative to the electronic and gadget giants by offering his customers a more personal experience, as well as rekindling the relationship between vendor and consumer.The unique merchandise at RichardSolo.com is hand-selected by Richard Thalheimer himself. He visits consumer electronic shows around the world in search of the latest and greatest tools to make life easier. So far, the site has a wide range of products, including everything from celestial wristwatches to motorized scooters, working slot machines to GPS navigation devices, kitchen tools, emergency radios, language translators and many other unusual, specialty items. The site also offers a great selection of iPod speakers, and is even a leading seller of the VersTM, handcrafted, wood iPod sound system. For those of you with an iPhone, Thalheimer has pioneered the need for extended battery life with his self-branded RichardSolo Smart Backup Battery; a rechargeable lithium-ion battery made specifically for Apple iPhone and iPod players.Aside from its great selection of products, RichardSolo.com is known for its responsive and attentive customer service. The driving force behind the company is its offer of personal experience that larger electronics and gadget retailers lack. Consumer inquiries are answered almost immediately and problems are resolved quickly. A 30-day money back guarantee is applied to each of its products in order to make your satisfaction its number one priority, as it should be.For an experience unlike Brookstone, unlike Best Buy, and even unlike his first brainchild, The Sharper Image, visit Richard Thalheimers RichardSolo.com. The service is nothing short of amazing, and the product lineup is qualified by his years of experience in the gadget industry and a passion for merchandising quality products. Theres a greater sense of sincerity about boutique shops, whether theyre online or brick-and-mortar stores. Theres something to be said about high-quality products, but a memorable consumer experience is invaluable.

Burgers and Bulldozers: New Franchise RoundupWith hundreds of new franchise concepts being started every year, it is nearly impossible to keep track of the freshest ideas. Here is an update of two new franchises and how they have fared in their first several months of franchising.The Counter – No, this isnt just another fast food hamburger joint. Besides serving hamburgers, The Counter has as much in common with your local McDonalds or Wendys as the World Cup has to do with your childs weekend soccer game. First opened in Santa Monica in 2003, this trendy update to the classic burger joint serves its burgers with any combination of 10 cheeses, 26 toppings, and 17 sauces. So, go ahead and order that Danish Bleu Cheese Burger topped with dried cranberries and a ginger soy glaze you always wanted.Since 2003, The Counter has received the type of press that most companies can only dream about. After being listed as one of the top 20 burgers in the country by GQ, the holy grail of endorsers, The Oprah Winfrey Show, named it https://zanderbxqk064.yousher.com/how-to-not-waste-money-on-marketing the Best Burger in the USA. (An aside on the power of the O-nod, sales jumped from $44,000/mo to $245,000/mo after the endorsement)With all of this success, The Counter did the only logical next step and began selling franchises in early 2006 with a $40,000 franchise fee and 6% royalty.So how is it going? The company has already inked agreements for 60 restaurants in California alone. Next up is expansion into Florida, New York, Arizona and Nevada followed by the rest of the country. With long range projections of only 400 to 600 units, The Counter is well on its way to franchising stardom.EQUIPRO – If Santa Monica and The Counter just seem too trendy and hip, this light equipment repair franchise from Wisconsin surely wont. EQUIPRO, a subsidiary of Wacker Corporation began providing repair service to the light construction equipment industry in 2003. At the same time that the light equipment market is growing at nearly ten percent per year, many large equipment dealers have been cutting back on service support. In response to these trends, EQUIPRO began to build out its network of service centers.EQUIPRO focuses on providing service for the following manufacturers: ICS, MI-T-M, MK Diamond, Sullair, and Wacker. The franchises are also full-service dealers for Honda, Briggs & Stratton, Robin/Subaru, Wacker and Kohler engines.For each franchise, the company hires a Metro Service Specialist (MSS). The MSS is an employee of EQUIPRO, Inc. hired on behalf of the franchisee to develop service sales and act as a liaison for EQUIPROs OEM partners in the local market. The responsibilities of the MSS include effectively calling on contractor offices and jobsites, equipment and rental dealers, as well as national accounts to promote solutions for equipment repair and parts. In addition, EQUIPRO provides professional training on business operations and technical details both in the classroom and on-site.Franchising since June 2005, new franchisees can expect to invest between $145,000 and $350,000. EQUIPRO has opened 12 service centers and plans on opening 33 units by the end of 2006 and 150 in the next seven years.