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Toolkit Newsletter- July 2013

Filed under Running A Business.

BizFilings Business Owner's Toolkit
Toolkit Newsletter Issue #129
July 23, 2013
Health Care Reform Update: Feds Issue Transition Relief for Employer Mandate Delay
health reform spelled out with a red pill for the letter o
Employers with 50 or more employees have a one-year reprieve from the shared-responsibility mandate, which requires them to provide health insurance or face a penalty. This provision will not be effective until 2015, rather than in 2014 as originally scheduled. The postponement brings its own challenges, which are addressed in IRS guidance.

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Can Facebook Hashtags Bring New Visitors to Your Page?
Hashtags are used in social media postings to provide for informal gathering of content related to a topic. Facebook has recently enabled hashtag functionality in their products which adds another tool to help local businesses connect with their customers. Businesses can work together can tag posts in order to create a buzz about local happenings and introduce new customers to their offerings.
Get Started with Hashtags >>
Do You Owe the IRS? This Program May Help
Missing a tax deadline can mean paying steep penalties in addition to the amounts that you owe. However, if you have a good record of compliance with the tax laws, you may be able to take advantage of the IRS's first-time penalty abatedment program.
Find Out Who Can Qualify >>
Business Cred: "Good Standing" And Why Your Business Needs It
Operating your business as a legally formed entity, such as a corporation or a limited liability company, means that you have an obligation to keep the entity in good standing by filing the required annual reports and paying any required taxes and fees. Failing to do so not only jeopardizes your ability to expand into other states, but may you forfeit your limited liability protection as well.
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Tax Check-Up: 2013 Quarterly Estimated Tax Payments
If you operate your own business, the odds are high that you will need to pay estimated tax throughout the year. With two payments remaining this year, it's time to evaluate whether you are on track with the amount that you are paying. Tax changes, such as higher tax rates and increased Medicare taxes imposed on higher-income taxpayers, make this mid-year checkup even more important for 2013.
Get the Details >>
Beat the Heat
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Recent Developments & Continuing Coverage
Six Steps to Prepare for Sale Tax Holidays
How to Establish a Practical Inventory Management System
SBA Increases Funding for SBIC's Early Stage Innovation and Social Impact Programs
What Employers Must Offer in 2015 and the Penalties If You Don't
When is a Minimal Fringe Benefit Not So Minimal?

Ask Toolkit About . . . Amending Returns and Loan Documentation

"Dear Toolkit, Oops! I just filed my tax return electronically and arrived home to learn that my wife found a Form 1099 hidden in the pages of a magazine. How can I amend my return to include this prodigal 1099? Thanks.—Chagrined in Sheboygan"
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"Dear Toolkit, My banker just called with good news. They have approved my business loan application, and I am to report to the bank next week to close the deal and receive the money. Since I'll have to sign my life away, can you tell me what I need to watch out for in all that paperwork? Thanks.—Happy Camper"
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