When asked about the most important day in a business owner’s journey, the initial response might be the day they open their business. However, seasoned entrepreneurs often argue there are two pivotal days: the day they start their business and the day they exit it. These milestones define the trajectory of any entrepreneurial journey, especially …
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Payroll, typically the biggest expense of any business in the pond and water feature industry, has come a long way since first taxed in 1913. The 16th Amendment to the Constitution gives Congress the “power to lay and collect taxes on incomes.” The Fair Labor Standards Act of 1938 established the minimum wage, overtime, recordkeeping …
If you are married or have children, it’s highly likely you have purchased a life insurance policy. Why? If something were to happen to you, you want to be sure your family is taken care of, right? Guess what? Your business is no different. Nobody likes to think about it, but what if you didn’t …
Protect Your Pond Business with a Backup Operating Plan Read More »
Many of us who own a regular (or pond) business have dreamed of selling it one day and living the dream of retirement. Most of us have very little idea how to make this dream come true. Usually this only happens with a well thought-out plan. Yes, you need a real plan that will work …
Building an Exit Strategy for Selling Your Pond Business Read More »
Since 2010, small-business owners have seen a significant uptick in reasonable compensation challenges, as the IRS has increasingly trained its tax examiners to examine payroll tax issues — among them, reasonable compensation. After all, the payment of a salary in excess of what the IRS considers “reasonable,” the payment of personal expenses by the business, …
Small-Business Tax Tips: Reasonable Compensation Read More »
Regardless of when you plan, the goal with any planning is to keep the tax bill at a legal minimum, year after year. So, keeping in mind that a garden pond professional’s obligation is to pay their fair share of taxes — and not a dollar more — consider a few last-minute tax-savings tips, such …
Pond Business | Tips for Last-Minute Tax Savings Read More »
Do you understand the nuances of capital purchases? Are you using these nuances to your advantage? If not, you may be making critical mistakes that cost you money each time your company buys equipment. In this must-read, in-depth article, Mark Battersby explains the many options and tools that could make a huge difference for your business.
Harnessing the power of YouTube, Carl Petite transformed his business by selling an entirely new product: himself. Learn how “The Pond Product Review Guy” went from a few low-quality videos to a thriving Internet presence with thousands of views — and how you too can watch your sales skyrocket just by being you!
Smart business owners know that social media is the most powerful way to reach and retain customers. Are you using it to your advantage? Follow Karen Leland’s 10 steps to leverage the fastest-growing social media site in history and grow your customer base overnight.
With bank lending to small businesses on the decline, how can a developing pond company raise the capital to grow? In this must- read for any entrepreneur, Robert Gloer of IOU Central explains the various loans that can take your business to the next level.