I Advice - Business

Reusing Corrugated Boxes for Shipping
Is it OK to use a box that was already used in the shipping process? The answer is: sometimes!Many times, when we receive something that we want to send back, we think nothing of using the original box for the return shipment. This is usually acceptable, but there are things you want to look out for when reusing a corrugated box.First, make sure it is a shipping box. A box that is rated for shipping contains a round seal called the certification. The seal indicates the testing that the box went through to become certified for shipping.Second, make sure that the box has no holes in it. Cover any holes with carton sealing tape. Never use masking tape, du

of the Tax Code lets companies deduct up to $108,000 of new equipment, subject to certain limits. Passenger vehicles are excluded from the expensing election. A passenger vehicle is defined as having a loaded gross vehicle weight of less than 6,000 pounds.

The tax code also allows an accelerated method to depreciate the remaining value of that equipment – it’s faster than the straight-line method of depreciation.

Home Office Expense: Write

Tips To Succeed In Job Hunting
Graduation should be a time for rejoicing because a person has finally got the degree he has aspired and worked hard for several years. However, the lack of employment opportunities has made graduation a moment of truth. Graduation is in fact the start of a person's quest for the best job he can find considering his educational attainment, talent and work experience.A person who wants to find a good job should not just sit around and be complacent just because he already has a degree. Unless a person is a computer genius, employers will never knock on his door and bend down on his knees to hire him for a job.Job hunting is an art and a person should use al

S Corporation: Set up an S Corporation to avoid self-employment tax on profits. If you conduct business as a sole proprietor, a partnership, or a limited liability company the first $94.200 of 2006 profits are subject to a self-employment tax rate of 15.3%. The profits in excess of $94,200 are subject to a Medicare tax rate of 2.9%. These self-employment tax rates are in addition to paying income tax on the profits. An S Corporation is not subject to self-employment tax on the profits earned.

Bad Debt Expense: A reserve for bad debts is not deductible, but you can write off accounts receivable in the year in which they become uncollectible. Be sure to take advantage of writing off all those uncollected accounts at year end. If you used a collection agency, you can deduct a portion of the debt that will go to the collection agency as a fee (around 25%). You can write off that amount at the time you turn over the receivable to the agency.

Medical Expense: For 2006, eligible self-employed individuals can deduct from gross income 100% of the amounts paid for health insurance coverage. The deduction is limited to net earned income from the business, less the deduction for 50% of the self-employment tax. Also, you cannot take the deduction for any month you were qualified to participate in an employer sponsored health plan.

If you conduct business as a corporation, set up a corporate medical reimbursement plan. Medical costs are generally personal expenses deductible only to the extent that they exceed 7.5% of your Adjusted Gross Income (AGI). However, medical reimbursement plans set up by C Corporations let you deduct all the medical costs you incur for yourself, your spouse, and dependents. These plans must cover all eligible employees.

Equipment Expense: For 2006, Section 179 of the Tax Code lets companies deduct up to $108,000 of new equipment, subject to certain limits. Passenger vehicles are excluded from the expensing election. A passenger vehicle is defined as having a loaded gross vehicle weight of less than 6,000 pounds.

The tax code also allows an accelerated method to depreciate the remaining value of that equipment – it’s faster than the straight-line method of depreciation.

Home Office Expense: Write
Insulated Travel Mugs Are Ideal Advertising Specialty Item
The mornings can be hard for some of us to get going. For a morning person maybe not, but the rest of us require a little help. The most popular way to get moving in the morning is with a warm cup of coffee. Since life moves at a fast pace, there is no time during the week to sit and enjoy your cup of coffee. That is what makes travel mugs so helpful; you can enjoy your brew on the go.The majority of coffee mugs are made with an insulated metal layer or thick ceramic material. The design and material keeps drinks warm for an extended period of time and is easy to clean. Many models are even safe to throw in the dishwasher so that you can use them over and over every
f-employment tax on the profits earned.

Bad Debt Expense: A reserve for bad debts is not deductible, but you can write off accounts receivable in the year in which they become uncollectible. Be sure to take advantage of writing off all those uncollected accounts at year end. If you used a collection agency, you can deduct a portion of the debt that will go to the collection agency as a fee (around 25%). You can write off that amount at the time you turn over the receivable to the agency.

Medical Expense: For 2006, eligible self-employed individuals can deduct from gross income 100% of the amounts paid for health insurance coverage. The deduction is limited to net earned income from the business, less the deduction for 50% of the self-employment tax. Also, you cannot take the deduction for any month you were qualified to participate in an employer sponsored health plan.

If you conduct business as a corporation, set up a corporate medical reimbursement plan. Medical costs are generally personal expenses deductible only to the extent that they exceed 7.5% of your Adjusted Gross Income (AGI). However, medical reimbursement plans set up by C Corporations let you deduct all the medical costs you incur for yourself, your spouse, and dependents. These plans must cover all eligible employees.

Equipment Expense: For 2006, Section 179 of the Tax Code lets companies deduct up to $108,000 of new equipment, subject to certain limits. Passenger vehicles are excluded from the expensing election. A passenger vehicle is defined as having a loaded gross vehicle weight of less than 6,000 pounds.

The tax code also allows an accelerated method to depreciate the remaining value of that equipment – it’s faster than the straight-line method of depreciation.

Home Office Expense: Write
Are You Undertrained? Ten Ways to Know
As professional salespeople with positive attitudes and a bit of ego, most would like to believe that they possess a good deal of knowledge and most likely do. But do they really have all that they need to get more than their fair share of business opportunities? Here are 10 questions to ask yourself to determine if you could benefit from ongoing professional development which would give you an edge in your sales career.1) Have you ever had a sales opportunity that was going well, just stop cold and you never knew why?2) Have you ever greeted a customer and heard the dreaded 'Just Looking' and didn't know what to do?3) Have you ever wondered why a pros
ou turn over the receivable to the agency.

Medical Expense: For 2006, eligible self-employed individuals can deduct from gross income 100% of the amounts paid for health insurance coverage. The deduction is limited to net earned income from the business, less the deduction for 50% of the self-employment tax. Also, you cannot take the deduction for any month you were qualified to participate in an employer sponsored health plan.

If you conduct business as a corporation, set up a corporate medical reimbursement plan. Medical costs are generally personal expenses deductible only to the extent that they exceed 7.5% of your Adjusted Gross Income (AGI). However, medical reimbursement plans set up by C Corporations let you deduct all the medical costs you incur for yourself, your spouse, and dependents. These plans must cover all eligible employees.

Equipment Expense: For 2006, Section 179 of the Tax Code lets companies deduct up to $108,000 of new equipment, subject to certain limits. Passenger vehicles are excluded from the expensing election. A passenger vehicle is defined as having a loaded gross vehicle weight of less than 6,000 pounds.

The tax code also allows an accelerated method to depreciate the remaining value of that equipment – it’s faster than the straight-line method of depreciation.

Home Office Expense: Write
Human Resource Department: How Do I Set Up?
If you were given the task of setting up a new Human Resource Department in a small company where would you begin? Such a task would be extremely daunting, but not impossible, if you follow a few tips. To begin, you need to answer some basic questions:Why do you want to set one up? What’s changed to make you or the organization believe that an HR department is needed now? What do you want the HR department to do? How will this function contribute to the success and bottom-line of the organization? Will it add value?In other words, before you begin the task, you need to have a clear definition of the mission and goals of the department and secondly, what role
ct business as a corporation, set up a corporate medical reimbursement plan. Medical costs are generally personal expenses deductible only to the extent that they exceed 7.5% of your Adjusted Gross Income (AGI). However, medical reimbursement plans set up by C Corporations let you deduct all the medical costs you incur for yourself, your spouse, and dependents. These plans must cover all eligible employees.

Equipment Expense: For 2006, Section 179 of the Tax Code lets companies deduct up to $108,000 of new equipment, subject to certain limits. Passenger vehicles are excluded from the expensing election. A passenger vehicle is defined as having a loaded gross vehicle weight of less than 6,000 pounds.

The tax code also allows an accelerated method to depreciate the remaining value of that equipment – it’s faster than the straight-line method of depreciation.

Home Office Expense: Write
Listening: The Foundation of Communication
Listening is the #1 communication skill for leadership, selling, customer service, and even romance! The problem is, most of us don’t listen very well. We’re not trained to listen and we don’t even realize that listening is a skill. People have lost jobs, customers, employees, and relationships because of an inability to listen. In this issue we’ll examine ways to become a better listener.Listening Means PeaceSheng jen is the Chinese word for wise person. It literally means “one who listens.”Joanna Rogers Macy, a peace activist, said listening is “the most powerful tool in peacemaking and any other kind of social change work.” I wonder wh
of the Tax Code lets companies deduct up to $108,000 of new equipment, subject to certain limits. Passenger vehicles are excluded from the expensing election. A passenger vehicle is defined as having a loaded gross vehicle weight of less than 6,000 pounds.

The tax code also allows an accelerated method to depreciate the remaining value of that equipment – it’s faster than the straight-line method of depreciation.

Home Office Expense: Write off home-office expenses. You can take this deduction even if you use the space for administrative purposes, as long as there is no where else you can work. When you use one room in your six room home as an office, you can deduct one-sixth of your costs for utilities, security, homeowner’s insurance, etc. as well as all costs for the room such as carpeting. Although you can also claim the depreciation on your home used for home office, you should consult a qualified tax advisor prior to doing so to understand the impact it will have on the exclusion of gain when you sell your residence.

Travel Expense: Deduct business trips by putting your spouse on the payroll. When spouses are on the payroll, even at low salaries, cost of business trips that include the spouse can be fully deducted. You should also be aware that putting your spouse on the payroll in 2006 will also double the amount of Social Security tax owed up to the first $94,200 of income.

Hiring Children in the Family Business: Put your children on the company payroll. When you employ your children in the business, for 2006 you can pay them up to $5,150 in salary free from Federal tax. The “kiddie” tax doesn’t apply to wages, so children under age 14 get this tax break, too. Have your children put $4,000 into a Roth IRA, where it will compound tax-free over time. When the money is left in the account until they turn 59 ?, they will never have to pay out any tax or penalties on that money or its earnings.

If your business is not incorporated, and the children are under age 18, neither you, as employer, nor your children will owe Social Security or Medicare tax on their wages.

Retirement Planning: Put more money away in your company retirement plan for yourself than for your employees. Business owners who are more than 20 years older that other co

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Are you unhappy in your job or career? But do you now have too many financial and familial responsibilities to make a switch? Here are five steps you can take to get a job which will give you the satisfaction you deserve.

Some basic but often overlooked job interview tips. Be prepared for that next big interview.

Are workplace diversity policies reallly all that effective? The answer depends on whom you ask.

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