The last item of preparation for a small business to sell to hospitals is evaluating the competitors in their market. This is crucial in developing a unique angle of why their small business is different and should be chosen over the competitor down the street. The distinction will be the focal point of crafting marketing messages to the health care facilities the small business is approaching. Initially, the analysis can be broken into three...more
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This time of the year we like to remind business-owners of the many tax-advantages and deductions that are available to them. Many times people start businesses but dont realize the tax implications until they are hit with big tax liabilities or audits, then it is too lateThe IRS allows all business deductions that are "Ordinary" and "Necessary" for your business.- Ordinary = common and accepted- Necessary = helpful to your businessBoth of the above requirements can be met with a very low threshold. And the IRS only requires that business expenses be reasonable in nature to be deducted. So anything that assists your business in growing, can be deducted on your business tax return.To keep track of business expenses, we generally recommend that you have a business banking account and make all business purchases out of that account, either with a check or a debit card. You can download banking and credit card transactions into QuickBooks software to make tracking business expenses much easier.Some Quick Points about Small Business Taxes:- Self-employed people list their income and expenses on Schedule C of the 1040 Tax Return- Sales Expenses = Taxable Income- Taxable Income is...more
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Both loan options contain risk for every party. Unsecured loans contain high risk for lenders, in cash borrower does not repay the cash. Secured loans are risky for borrowers, as lenders can sell the collateral in case borrower does not repay the...more
After a small business does their in depth preparation and goal setting for entering or expanding into the hospital market place, the sequence that follows is broken down into four stages of the companies growth. Each stage brings its own challenges...more