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INDEPENDENT CONTRACTORS ATTRACT INCREASED SCRUTINY

Government agencies, running record deficits, look to companies' use of independent contractors as a source for increasing revenues. Business sees independent contractors as providing much needed staffing flexibility. Taxing agencies consider independent contractors as tax cheats and force business owners to become enforcers of government tax policy. This article explores the criteria businesses need to follow to avoid a finding that your independent contractors are actually employees resulting in assessments for past taxes, penalties, and interest.

BEST PRACTICES WHEN USING SUBCONTRACTORS

Contractors take great care to make certain that their subcontractors have the necessary skills to perform their craft. Unfortunately, many contractors are less informed about best practices for the business relationship with their subcontractors. Without taking as much care to ensure a solid business and legal relationship, contractors put their customers, their business, and themselves at great risk of failure. This article reviews the financial, insurance, entity, and contractual guidelines contractors need to consider.

Resolve to Follow the 5 Stages of Planning for a Prosperous 2010

With the challenges and uncertainties facing small business owners in 2010, a well-crafted plan is more important than ever. Many companies with 2009 plans that were “in my head” or “sketched on a napkin” aren’t making plans for 2010; they’re no longer in business. Unless your 2010 plans include becoming a statistic, you must resolve to commit the resources necessary to develop a high quality plan for 2010. Developing an actionable plan that increases your odds of success is as technically demanding as any of the products or services you offer to customers.

Can You Walk the Walk if You Can’t Talk the Talk? Improve Your Financial Vocabulary

Accounting is the language of business. Getting more information from your accountant than just pages of numbers in the form of monthly reports requires that you know the language. For many owners, that means acquiring a new vocabulary complete with terms like “gross margin,” “key performance ratio,” and “break-even analysis.” Unfortunately, many business owners are intimidated by the language or choose to ignore it altogether. They ignore the financial performance of their company, delegate it to an employee, or outsource it. Understanding the fundamental financial concepts gives owners a much better chance of prospering in today’s challenging economic environment.

SIX STEPS TO WINNING IN 2010

“Wait and See” is not a plan. Successful people know that the real treasures lie where few are willing to go. A well developed plan takes advantage of what you do know, minimizes the risk from what you don’t, and leads you successfully into the future. As the fourth quarter begins, savvy managers accelerate the planning process. Here are six steps you should follow for a profitable plan.

The Six Systems Every Business Needs for Maximum Success

Running a business is a challenging endeavor. For most owner/operators the business of the business gets in the way of the running of the business. The successful owner learns early on that the secret to a successful business is in systems. By creating a system for handling each of the phases of running the business, employees can be trained and their effectiveness measured. Great systems free up the owner to spend time with her family and to focus on the future, which are the places an owner needs to be.

IS YOUR BUSINESS PUTTING YOUR ASSETS AT RISK? BUSINESS ORGANIZATIONS: THE LIMITED PARTNERSHIP

Most states provide for a variety of business forms. The form you choose for your business will influence the time and money needed to form and maintenance your business. Most importantly, it controls the extent to which your personal assets are available to your creditors to satisfy business debts and obligations. This article is the third in the series that explores the differences between business forms. It is easy to read and understand. The information is a great starting point in your investigation and will prepare you for further discussions with your attorney, accountant, or advisor.

Cash for Clunkers: Stimulus or Boondoggle

Cash for Clunkers, the federal program that pays $4,500 toward the purchase of certain new cars, is tremendously popular. But as with all government handouts, for everyone who benefits, someone else pays a price. Only a reasoned examination of all of the costs together with the benefits can the balance between the two be evaluated. This article does just that.

REVIVE AN ECONOMY… THE ANSWER LIES WITH THE PRIVATE SECTOR

The best road to economic recovery strengthens and grows private business. The private sector, guided by the discipline of the market system, will always be the most efficient way to create the right number of productive jobs providing the products and services the economy demands.

IS YOUR BUSINESS PUTTING YOUR ASSETS AT RISK? BUSINESS ORGANIZATIONS: THE GENERAL PARTNERSHIP

The general partnership has existed for centuries. Today, it is controlled by the laws of the state in which it operates. The general partnership is easy to create - sometimes too easy. Unwary business owners have become partners creating obligations to others without intending to do so just by conducting themselves as a partnership. This article explains what a general partnership is, how it is formed, and the rights and obligations of the partners. Protect your personal assets and make certain you understand how the general partnership works.

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About the Author: Bill Gschwind

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Bill Gschwind, JD, MBA has over 25 years experience in successful business management and sales. For the past 16 years, he has owned franchised and independent retail and business service organizations. Mr. Gschwind is a business attorney with an MBA in Business Management which makes him uniquely qualified to advise owner-operators on all matters relevant to operating a successful business. Contact him for questions or assistance in your organization with human resource development, leadership, and business planning services.
http://www.inPursuitConsulting.com

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More from Bill Gschwind
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RecessionProof Your Business
Do You Have the Power

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