Business Heard by Congress – new 1099 Requirements Overturned

Monday, September 5th, 2011

Hi everyone.

Here's an excerpt from a free newsletter worth subscribing to!

Rejoice – Congress Overturns Enhanced 1099 Reporting Requirements

Anderson Business Advisors, PLLC

In response to overwhelming objections from business leaders, business organizations and accounting professionals nationwide complaining about the tax compliance burden these new requirement impose on taxpayers, particularly small businesses, Congress has repealed these requirements.   

  • For Rental Owners - The new requirement for rental owners to report annual payments of $600 or more to service providers, such as a pool service person, handyman, gardener, management company and other unincorporated service providers effective for the 2011 and future tax years.

  • For Business Owners – The new requirement to include incorporated entities in the business 1099 reporting requirements and expanding the scope to include purchases in addition to payment for services.  This provision was to become effective for the 2012 and subsequent tax years.

Cheers!
Shauna,
Your Biz Lady

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Lower Your Taxes – Big Time!

Sunday, September 4th, 2011

Did you know how to turn a vacation into a tax-deductible write-off?  Or what the dividing lines are to keep your business from being declared a hobby (eliminate your business tax deductions)?  Always wanting to pay only my fair share and not a penny more, I've been learning these tax strategies and more over the years.  I was delighted when one of my mastermind team members recommended this book:  Lower Your Taxes – Big Time!

Not only does it have those tax reduction secrets and more, but the book is updated each year.  There is also a complete section for tax strategies outside of business.  The book discusses how to use tax planning to

  • make college less expensive
  • reduce taxes on investments
  • maximize deductions for your home.

It was written by an IRS insider and confirms the tax strategies I've been learning over the years – updated for current laws!
Click the picture below to order your copy now.


Accounting Books)

Cheers!
Shauna

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Business feeling stuck? There is a solution…

Monday, August 22nd, 2011

Is your business feeling stuck?  Here's a quick, easy exercise from Paul Lemberg's book: Be Unreasonable – the Unconventional Way to Extraordinary Business Results. In Paul's words (roughly):

  • Take out a sheet of paper and write the numbers 1 through 10.

  • Make a list of 10 to-do items, any one of which would help your business substantially (simple or complex). Just write whatever comes to mind.

  • Review your list… One item will stand out… Call on your intuition. Find the most important one and circle it.

  • Begin working on the circled item.  Yes, right now.

This exercise is powerful. Do it today!

Paul's book is well worth the investment.  Click here to order your copy of Be Unreasonable now!

Shauna
Your Biz Lady

P,S, Stay tuned for the news about our new website.

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Quick cost-friendly way to take credit cards

Sunday, June 19th, 2011

Someone just told me about a cheaper way to accept credit cards: SquareUp.com. It was created by the founder of Twitter. Only 2.75% per swipe for all credit cards; No monthly fees or contracts; next-Day Payout.

…so I asked my internet marketing friends, “Has anyone used this yet?“

Bonnie said: 

Yes, I have it, and it's great! I kept thinking there would be some strings attached or some kind of hidden fees, but it's very straightforward. No fee except the 2.75%, and it's paid out as advertised. It has really simplified my business too.
We had a merchant account for years, and at the beginning it had a $10/month fee, but now it was up to $50/month. Plus we had to carry the little swiper machine around and make sure we could plug it in somewhere. We cancelled that a couple months ago after we got the Square.
I think every business person should have a Square account. 

Gerald said: 

We just got it and it's awesome. Have one reader and two accounts; one personal and one Corp. I have been speaking to a friend about buying my foosball table but he never had the money; ask me next month he kept saying. No problem, let me swipe your card and you have 25 days to sort it out. Cost me 6.88 but far better than a lost sale or another month having the same conversation.

If you take credit cards – or want to! Take a look at SquareUp.com.

Here’s to your wealth!
Shauna
Your Biz Lady

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Think Yourself to Success

Thursday, June 2nd, 2011

When was the last time you read The Magic of Thinking Big?  It has so many great reminders, including the importance of taking time alone "with nothing but your own thinking apparatus."  It's so easy to get caught up in the "doing" of our business that we neglect the soul of our business – much like the parent making a living to provide for her family, only to find out what they really need is more of her time.  Likewise, your business needs that one-on-one nourishment – thinking time – that only you can provide. 

"Leaders use solitude to put the pieces of a problem together, to work out solutions, to plan, and… do their superthinking." ~ David Schwartz

Here's to spending more time ON your business, instead of in it!  Test it for yourself.  (I'll be doing the same.) Set aside 30-60 minutes each day for two weeks to just think …and let me know what happens!  I'd like to hear from you.

Shauna, Your Biz Lady

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For the kids…

Tuesday, May 24th, 2011

I just finished reading The Millionaire Maker's Guide to Creating a Cash Machine for Life by Loral Langemeier.  I loved the last chapter on "The Kids Cash Machine."  If I knew then what I know now, it's a gift I would have bestowed on my son – and I know would have received important clues for my business while I encouraged him to in creating his own cash machine.

If you help your kids – or the neighbor kids, or your grandkids – create their own cash machine, it just might turn out to be the gift of a lifetime… and not just for them.

Everyone wins!

Shauna
Your Biz Lady

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your Money Shadow

Saturday, May 21st, 2011

What is your money shadow?  What's keeping you stuck?

That was the question Alexis Neely brought to my inbox this morning. I've only watched her first video.  It looks well worth your time to do her amazingly FREE! series, which includes things like

  • Who Are You and What is the Life You Really Want?
  • Reaching Your People, Communicating Your Vision
  • Discovering your Money Map Number
  • What you need to make sure that your business doesn’t take over your life
  • Getting Clear
  • Building a Foundation
  • Charting Your Map

I've already opted in.  Let's do this together!  Opt in at awaken you to your Money Shadow .    

Here's to entrepreneurs and small business owners everywhere having it the way they want!

Shauna
You Biz Lady

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Lower Your Taxes – Big Time!

Wednesday, May 18th, 2011

I've had three different friends recommend this book in the past month: Lower Your Taxes – Big Time 2011-2012

There must be something to it!  I've ordered it and will keep you posted. (I'm letting you know now so  you can start your tax savings education even sooner!)

Cheers!
Shauna
YourBizLady

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Taking the Initiative

Thursday, May 12th, 2011

Today, something from Tony Robbins:

"Success comes from taking the initiative and following up…persisting. What simple action will you take today to produce a new momentum toward success in your life?"

Cheers!
Your Biz Lady
Shauna

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Saturday, April 30th, 2011

Here is an excerpt from a friend's blog.  Good reminder from us "have to do everything" entrepreneurs:

Here are some very common things that don’t work.

  • Trying to please everyone
  • Trying to help everyone
  • Trying to fix everyone
  • Trying to do everything
  • Trying to know everything
  • Trying to be everything

To read more, go to Ken McArthur's blog.  (He's the founder of JV Alert, where some top internet marketers go to share ideas and Joint Venture on assorted projects.)

Enjoy spring!
Shauna
YourBizLady

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