Small Business Questions & Answers

 

  • Ask About Our Tax History

    Posted by Flyboy Jack in Tax Center | Sunday, May 20, 2012

    Dear Toolkit,

    When did we as Americans actually start paying taxes?

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  • Ask About Unemployment Taxes -- Part 1

    Posted by Edgy Employer in Tax Center | Sunday, May 20, 2012

    Dear Toolkit,

    I've just this past summer hired my first employees and am beyond confused about unemployment taxes. Seems like both the state and federal governments want a pound of flesh and a raft of record keeping. Can this be right? Please clue me in if you can. If they pile many more taxes on me, I'll have to apply for unemployment compensation myself!

    Thanks,

    Edgy Employer

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  • Ask About Unemployment Taxes -- Part 2

    Posted by Edgy Encore in Tax Center | Sunday, May 20, 2012

    Dear Toolkit,

    Thanks for your helpful info about unemployment taxes: FUTA and SUTA. See—I've even caught on to the jargon! But now that I know what they are, what can I do to minimize my actual tax costs? I own a restaurant and am therefore bound to have higher turnover than most businesses. Help!

    Thanks,

    Edgy Encore

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  • Ask About the New I-9 Form

    Posted by Paymaster Disaster in Tax Center | Sunday, May 20, 2012

    Dear Toolkit,

    Didn't I hear somewhere that there was a new I-9? Where is it? If DHS revised it, where did they hide it on their website along with new instructions?

    Thanks,

    Paymaster Disaster

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  • Ask About the New (Mandatory) Not-for-Profit Tax Form

    Posted by Auntie Bureaucracy in Tax Center | Sunday, May 20, 2012

    Dear Toolkit,

    I just heard an ugly rumor about an IRS form our little non-profit community brass band needs to file, electronically no less. Say it isn't so! Or at least tell me why!

    Thanks,

    Auntie Bureaucracy

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  • Ask About Sales Taxes

    Posted by Wannabe Compliant in Tax Center | Sunday, May 20, 2012

    Dear Toolkit,

    I can't seem to get a straight answer to my many questions about sales tax, particularly about taxes to be charged on out-of-state sales. Please help!

    Thanks,

    Wannabe Compliant

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  • Ask About Cash vs. Accrual Method

    Posted by Basically Challenged in Finance | Sunday, May 20, 2012

    Dear Toolkit,

    My brother-in-law, who is also my CPA, recently reminded me to start preparing my business's receipts and disbursements for his review prior to the end of this tax (calendar) year. And he added a cryptic comment to the effect that he may change my accounting method from cash-basis to accrual-basis. Can you clue me in to what he's talking about?

    Thanks,

    Basically Challenged

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  • Ask About How To Plan To Get a Loan

    Posted by Wannabee A. Debtor in Finance | Sunday, May 20, 2012

    Dear Toolkit,

    How do I go about convincing someone to lend me money for my business?

    Thanks,
    Wannabee A. Debtor

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  • Ask About Leasing

    Posted by Vacillating in Vermont in Finance | Sunday, May 20, 2012

    Dear Toolkit,

    My printing business is growing and I'm going to need some new equipment. Would I be better off leasing or buying?

    Thanks,

    Vacillating in Vermont

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  • Ask About Gold

    Posted by Double Duffer in Finance | Sunday, May 20, 2012

    Dear Toolkit,

    Your recent column about "the Dow" prompted me to ask an equally esoteric question about another macro-economics topic: gold! My banker, to whom I lose a weekly golf match, insists that gold is a better indicator of inflation than a dozen expensive economists armed with state-of-the-art computer models. In an effort to appear a more competent businessman than golfer, I always nod in agreement but I haven't a clue what he means. Can you enlighten an ignorant entrepreneur?

    Thanks,

    Double Duffer

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  • Ask About Budgets

    Posted by Delinquent in Des Moines in Finance | Sunday, May 20, 2012

    Dear Toolkit,

    Does a budget really have any value to a small business? I know I probably should have done one earlier, but now that the pre-holiday rush is upon us, is it really necessary?

    Thanks,

    Delinquent in Des Moines

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  • Ask About Merchant Accounts

    Posted by Moveable Feast in Finance | Sunday, May 20, 2012

    Dear Toolkit,

    My little carry-out restaurant is really taking off and I want to be able to accept credit cards from my customers. Can you tell me how to go about doing this?

    Thanks,

    Moveable Feast

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  • Ask About Wealth Accumulation

    Posted by Wannabee Rich in Finance | Sunday, May 20, 2012

    Dear Toolkit,

    I'm a young man who aspires to vast riches and early retirement. Any tips on how I can accumulate a fortune before I'm 50?

    Wannabe Rich

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  • Ask About Business Ratios -- Part One

    Posted by Ratio Rookie in Finance | Sunday, May 20, 2012

    Dear Toolkit,

    I've heard that calculating "business ratios" from my financial statements would be helpful in running my store. What I haven't heard is why. Can you enlighten me?

    Thanks,

    Ratio Rookie

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  • Ask About Business Ratios -- Part Two

    Posted by Ratio Rookie in Finance | Sunday, May 20, 2012

    Dear Toolkit,

    I've heard that calculating "business ratios" from my financial statements would be helpful in running my store. What I haven't heard is why. Can you enlighten me?

    Thanks,

    Ratio Rookie

    Read More

  • Ask About Business Ratios -- Part Three

    Posted by Ratio Rookie in Finance | Sunday, May 20, 2012

    Dear Toolkit,

    I've heard that calculating "business ratios" from my financial statements would be helpful in running my store. What I haven't heard is why. Can you enlighten me?

    Thanks,

    Ratio Rookie

    Read More

  • Ask About Business Ratios -- Part Four

    Posted by Ratio Rookie in Finance | Sunday, May 20, 2012

    Dear Toolkit,

    I've heard that calculating "business ratios" from my financial statements would be helpful in running my store. What I haven't heard is why. Can you enlighten me?

    Thanks,

    Ratio Rookie

    Read More

  • Ask About Surety Bonds for Construction Firms

    Posted by Seeking Help in Finance | Sunday, May 20, 2012

    Dear Toolkit,

    I'm sure my small construction business could do some government sub-contracting work during this recession period if only we had access to adequate surety bonding. Do you know of any source willing to deal with small contracting and service businesses? I've looked everywhere to no avail.

    Thanks,

    Seeking Help

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  • Ask About the Dow Jones Average

    Posted by Bargain Hunter in Finance | Sunday, May 20, 2012

    Dear Toolkit,

    Can you help me become an informed investor by explaining how the 30 blue chip stocks that make up the "average" don't add up (or should I say divide up) to whatever the Dow average is on any given day?

    Thanks,

    Bargain Hunter

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  • Ask About ARCs

    Posted by All at Sea in Finance | Sunday, May 20, 2012

    Dear Toolkit,

    Help! I feel like I'm shoveling sand against the tide trying to make my business loan payments in this slow period. Does anyone make loans to pay off other loans?

    Thanks,

    All at Sea

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