money sectionmoney sectionDairy products like cheese and ice cream are typically produced from cow's milk produced on dairy farms. Farmers and ranchers often partake in many different food production activities, so a single farm owner might produce animal products like milk as well as crops. The U.S. Bureau of Labor Statistics groups dairy farmers with other farmers and ranchers in its income data.
The Employee Retirement Income Security Act (ERISA) of 1974 is a complex legal structure that provides a statutory framework for employee benefit plans. ERISA's provisions are divided by type of plan: pension benefits or welfare benefits. Fidelity bonds are a requirement for pension benefit plans such as a 401k plan.
Although finding an owner financed home is relatively rare, these homes do exist. For homebuyers with credit challenges, buying a home with owner financing offers them the chance to own a home. Owners choosing to finance their homes also receive the benefit of regular interest payments, which are typically higher than stock market or other investment returns. Owner financed sales require less paperwork at closing than traditional lender financed sales. The costs are lower since the owner is the lending agent and requires less documentation than a conventional lender.
One of the benefits of self-employment is the ability to find and choose your own retirement savings plan. This is also one of the drawbacks, as it is up to you to decide which plan works best for you and then to set up and maintain it. Many self-employed people find the high contribution levels of SEP IRA and Keogh plans very appealing as they far outweigh the limits of individual IRAs, but both have drawbacks.
Small businesses often establish small lines of credit, but you do not have to establish a line of credit if you have the financial resources to operate the company without borrowing money. However, if you have minimal cash reserves, you may need to establish some kind of credit to keep your business running.
There are many reasons to start a retirement fund at an age as young as 20. When it comes to investments, it is never possible to start too early. If you have the disposable wealth to contribute to a retirement fund already by the age of 20, you would be well advised to consider it. There are few investments that will pay higher returns over the long term than the purchase of public stock.
If you own or operate a small business and want to add a retirement program to your employee benefits package, choosing the best one for your situation can be difficult. Several different types of retirement plans are available, each with its own pros and cons. Understanding the differences between the most common types of small business retirement plans will help you to make an educated and informed decision that benefits you and your workers.
The idea of placing a terminal patient into a deep freeze to be awakened once a cure for his condition is discovered was once just the providence of science fiction writers. Although it's still an unrealistic medical solution, science of cryonics is advancing to the point where cryogenic preservation may be an option for patients. While scientists struggle to make the dream a reality, philosophers and medical ethicists are already grappling with the moral implications of cryogenic preservation.
Students graduating from high schools in Abilene, Texas have access to a number of scholarship opportunities issued by individuals as well as private foundations. Abilene Christian University also offers both academic and athletic scholarships to talented students. From 2008 to 2009, the Community Foundation of Abilene awarded $129,600 in scholarships to local students.
Learning to budget money can mean the difference between paying the rent or buying a car and someone living at home with his parents beyond the age of 25. In December 2010, the unemployment rate hit over 9 percent, leaving many people who had previously been secure financially looking at a grim picture. Teaching budgeting skills before this kind of problem arises gives students safety nets that protect their futures. One tool that supports learning is rewarding students with various giveaways tied to your lesson plan.
The Employee Retirement Income Security Act (ERISA) of 1974, as amended, is a federal statute that establishes guidelines for retirement plans. This statute is jointly overseen by the Department Of Labor and the Internal Revenue Service. Retirement plans must meet the minimum guidelines set forth in ERISA to receive preferential tax treatment for both employers and employees alike.
In the United States, a Simplified Employee Pension (IRA) is a form of Individual Retirement Account (IRA) allowing employers to contribute money into their retirement accounts and the retirement accounts of their employees. In general, SEP IRA holders must begin to take withdrawals from their accounts in the year in which they attain age 70-1/2.
Separating couples face a host of complicated issues, and the case only gets more involved when one of the parties is involved in an ongoing business venture. Parties and lawyers grapple with not only issues of ownership and company assets, but also questions of entitlement to company profits. A party's right to business profits rests upon a determination of several factors.
In February 2008, the United States government announced the passage of the Economic Stimulus Act, an economic stimulus package that distributed extra money to American taxpayers in addition to their tax rebates for the 2007 fiscal year. The amount of the individual payment depended upon factors such as marital status, income bracket and number of dependents. Stimulus checks began to be mailed out to recipients in May 2008.
Public companies are required to file quarterly reports with the Securities and Exchange Commission to remain in compliance with federal securities regulation and to share financial and operational performance of the company with investors via a structured format. The quarterly report must be filed within 45 days of the closing of the prior quarter to ensure timely delivery of information to interested parties.
Owner financing is a technique used to sell real estate without involving a traditional mortgage. Owners of real estate can use this strategy to increase the number of potential buyers, as well as the amount of money they can make when selling property.
A simplified employee pension plan (SEP) is a way to save for retirement. If you run a small business, you can set up SEPs for yourself and your employees. You will contribute to a separate SEP-Individual Retirement Account for each plan participant. You can contribute up to 25 percent of each employee's pay to the SEP. These SEPs are exempt from reporting under form 5500 if you meet certain employee notice requirements, and also don't impose investment restrictions on the monies contributed to the SEP.
Acquiring funds for a new small business is often crucial to its success Small business owners need start-up capital to cover operating expenses during the growing phase, and they might also require money to advertise and purchase equipment for the business. Some owners might use their own money or credit cards to meet this expense. But if this isn't an option, business loans are useful.
IRA plans are investment vehicles that allow self-employed individuals and employers a simplified means of maintaining and contributing to retirement accounts for employees. There are different types of IRA plans, which are subject to the same investment rules as traditional Individual Retirement Accounts.
Commercial real estate is built on owning property and renting it out to tenants; one way to do this is owning a self-storage facility. Self-storage facilities are less expensive to build (by a factor of 8 to 10) than a multi-unit apartment complex. There is also considerable flexibility in where they can be placed and still be viable. While nearly every small town in America has at least one of these businesses, self-storage facilities aren't 'easy money.' But they are an investment that can produce a reliable income stream, local conditions permitting.
Plan to Achieve Self-Support (PASS) is a Social Security individually funded plan, or savings account, in which a certain amount of money can be set aside that would normally be countable income. With these funds deducted from your countable income, Social Security will reevaluate your SSI payments and adjust them accordingly. It is possible to raise your SSI payments and have these funds set aside for a specific period of time, thereby making start-up funds available.
Opening a restaurant may be difficult and stressful, but the end result can be rewarding. In order to make the start-up phase of your restaurant easier, it is advisable to use a business plan. A business plan will provide an outline of your plans, strategies and goals for both you and potential investors.
Those with little to no credit can find it difficult to secure a loan when they need one. For consumers trying to start or run a business, there may be a time when a loan is necessary, such as for needed repairs, payroll, bills and more. If you have little credit, there are still avenues you can explore to get the loan that you need for your business.
Health insurance that is offered through an employer is referred to as group health insurance. Group health insurance offers a major advantage over private insurance in that insurance premiums are often much lower than individual rates. In most states, there are certain requirements placed on the employer offering group health insurance. If you're an employer, you should also be aware of some of the requirements that insurance companies place on you.
If you plan to start a business or need funds to operate, a small business loan provides funds. When obtaining a small business loan, it is important to start by composing a business plan. This provides the lender with information about how you plan to finance and run your business. Additionally, you should determine how to secure your small business by providing the lender with some form of collateral.
A small business with the promise of a successful product may seem like a good investment. As with any other kind of investment, there are risks involved in financing a small business. By understanding these risks, and doing the proper research before investing in a company, you can help to protect your financial investment.
If you own a small business and would like to set up a tax-deferred retirement plan, you need to look at simplified employee pension (SEP) plans. The regulations for SEP plans are governed by the Internal Revenue Service (IRS) and cover requirements, contributions and distributions. As compared to other corporate plans, SEPs are less costly and easier to administrate and manage. Employer contributions are discretionary and tax-deductible to the business enterprise and are not included as employee income.
Whether you are just starting a business or are already operating a successful one in Abilene, Texas, you may need a business loan. There are many avenues to choose from when applying for a small-business loan. The amount you receive, plus interest rates, will depend on a few factors, such as the assets you already own and your credit score.
If you run a small business and want to make sure that you--and your employees--get the most benefits possible after retirement, it's best to be aware of your options as early as possible. This way, you can offer plans that will cater to the needs of your employees, and can boost company morale in the process.
Contests, sweepstakes and giveaways are some of the creative methods used to reel in customers and lure people to a private event. Prize giveaways range from small trinkets to vacation getaways. These prizes can be used to entice potential customers to a business or can be given away at a wedding or other event.
A Sole Proprietorship account allows securities to be bought under a business. This allows the owner of the account not to be associated with the debt or any money of the company. Many small businesses invest in the stock market in order to expand their capital. Investing in the stock market as a small business requires a great deal of knowledge and insight in order to profit.
Individuals or partners who start a small business take on new responsibilities beyond those they had while classified as an employee for another business. Employees have uncomplicated tax payments because tax is withheld by the employer. Small-business owners, however, must calculate and file their own taxes. To make sure business taxpayers have access to pertinent information, the Internal Revenue Service (IRS) offers a few avenues for getting full text copies of the literature on starting a business. In addition to tax information, the IRS includes some basics on business decision-making.
Whether you are starting up a business or are already established in your company, the need for a business loan can come up. You may find that you need the loan as quickly as possible, perhaps for emergency repairs, bills or payroll. Whatever the reason, there are ways to get a small-business loan quickly.
A fidelity bond covers business losses due to fraud or dishonesty caused by plan officials such as theft, robbery, embezzlement or burglary. The specific plan must be named as the insured on the fidelity bond. The Employee Retirement Income Security Act of 1974 (ERISA) requires fidelity bond coverage for every person handling fund assets of pension plans and/or retirement plans, unless they are governed by another regulatory agency that has its own bonding requirements or are registered brokers and dealers under the Securities Exchange Act of 1934.
There are a lot of dairy cows in Michigan, and unlike in some states the number has increased in recent years. Dairy farming represents an important part of the Wolverine State's agriculture industry, accounting for nearly 10 percent of Michigan's total agricultural output of $60 billion in 2007. Dairy farming can provide a more lucrative income and return on investment per animal than other types of livestock farming.
If you recently started or plan to start a small business, you likely have already given some thought to filing business taxes, which differ from personal taxes. The U.S. Small Business Administration helps embryonic and established small businesses by providing information on taxes and other elements of operating a small business.
According to surveys conducted by Money Magazine and the Wall Street Journal's MarketWatch, Florida retains the lead as the top retirement destination for many Americans. However, many other states---especially along the booming Sun Belt---and even a few countries overseas have boosted the number of retirees flocking to them seeking permanent or semi-permanent residence. Although some of the towns attracting retirees are large, metropolitan areas, many are quite small, reflecting a changing shift in retiree preferences.
Over 3 billion people live in poverty around the world. According to Unicef, 25,000 children die each day from poverty-related causes. One suggested method of alleviating poverty is through small and local financial loans, known as microfinance.
Investing for retirement is an essential first step in ensuring you have a comfortable retirement, but many feel overwhelmed by the investment options. Take the time to learn how to choose a retirement solution so that you won't be caught relying on limited savings when you retire. Choose retirement investments that fit best with your current status, and automate your investments so that you can easily build up your accounts.
Simplified Employee Pension plans (SEPs) are designed to help small business owners and self-employed individuals save for retirement. Under a SEP, an employer contributes directly to traditional individual retirement accounts (SEP-IRAs) for all employees including himself.
If you own a small business that makes a profit, you will owe federal taxes on that profit. If the taxes you owe will be more than $1,000 for the tax year, you should register with the Internal Revenue Service (IRS) to make estimated payments for tax liability during the tax year. The IRS has a "pay as you go" system and can assess penalties and interest on a tax liability that goes unpaid until filing time.
President Obama's tax-relief program is meant to be a comprehensive reform of the tax system. It places more of the burden on wealthier taxpayers and less on the middle classes and the poor. It also seeks to close corporate tax loopholes. The plan has breaks for small businesses, for seniors and for families with children in college.
Starting your own business? You need to write a business plan. This is a concrete and simple way to plan out your business or product and help ensure its success. Use this guide to learn basic tips to make money from an effective business plan.
A Business Continuity Plan is a structured response plan that is to be activated in the event of an emergency that disrupts the basic functioning of an organization. These emergencies can be related to virus infestation of the computer system, terror attacks, outbreaks of disease or natural disasters of all kinds. The purpose of a BCP is to have a plan of action in place to maintain at least some aspects of business life under these conditions, and, more important, to get the organization back on track once the emergency has passed.
Selling a small business is a life-changing event; having the proper legal documents in place will make the entire process simpler and safer. The legal forms listed below can be drafted by a qualified business attorney or purchased online. Buying legal forms online can help save on costs, but consider consulting an attorney for custom advice relating to your business.
Small businesses have various options available to offer some type of health insurance coverage to employees no matter what state the business is located. A small business owner can provide a managed care plan or an individual health insurance policy. States also have high-risk pools for businesses and individuals who cannot obtain health insurance coverage. Another option to a small business is to use a health savings account.
As a small business owner, you are responsible for a number of taxes, most of which are collected or reported quarterly. The federal and state government should send you the majority of these forms well before they are due or they are available on the internet. If they do not, it is your responsibility to submit the forms and any taxes owed before the due date.
Starting a business always requires start-up money. For many Americans, their largest source of savings is in qualified retirement accounts such as 401(k)s and IRAs, but these accounts have penalties for taking money out before age 59 1/2. There is, however, a strategy available to use these funds to purchase a business. It's called an entrepreneur rollover stock ownership plan (ERSOP).
Owners of small businesses have to pay more than average workers do. They pay not only their own social security tax but also the employer's portion. They also have to provide their own health and life insurance. These can often be costly. One way to retain good employees and get insurance coverage is to find small-business health insurance. There are several places to look for coverage and many different types of plans available.
To build a financial planning business, first gain experience by working for someone else and fine-tuning the necessary skills. Build up a new clientele for a financial planning business with information from an experienced portfolio manager in this free video on finance.
Taxpayers who start small businesses have many matters to consider, not the least of which is self-employment or employee taxes. This article shows you what you need to do to stay on top of this matter.
Small business insurance can cost between $150 to $1,000 per person per month depending on the type of insurance and the amount of coverage for each individual. Find out about the additional costs of liability and worker's compensation insurance with information from a financial adviser and insurance broker in this free video on business insurance.
Small businesses use internal controls in order to remain on track and stay a success. Learn about internal controls for small businesses, such as budgets, with help from a registered financial consultant in this free video on money management and financial advice.
Small business debt relief is a means to keep a small business in business and help them get their bills paid. Keep a small business going by consolidating bills with help from a business analyst in this free video on financial planning and debt management.
Small business health insurance can often be obtained for a discount, provided that there is 75 percent participation in the insurance plan. Attract a high quality level of professionals to a small business by obtaining health insurance with advice from an insurance broker in this free video on insurance.
A Keogh plan is a personal retirement plan for small businesses and for those who are self employed. This tax-deferred plan is overseen by the 401(a) tax code allows workers to contribute a specific amount of money each year before taxes out of each check. A Keogh plan is a great alternative way to save for retirement if you do not work for a large corporation.
Employers provide profit sharing investment accounts to their employees to encourage company loyalty while rewarding them with financial security. Companies that contribute to such a plan for their employees benefit in the form of substantial tax reductions. They gain flexibility that they would not otherwise have if they offered more fixed alternatives such as a pension plan.
There are many places at which you can apply for a business loan, but wherever you apply, they will want to see a business plan. This will be the most important part of the loan application. The plan for starting a new business is more difficult than a plan for an existing business because you will have to use projected numbers instead of actual numbers. The plan must consist of what your business will be and how you plan to run it. Projected income and expenses, number of employees and location are all important parts of a business plan. You…
As a small business owner, you may need to purchase equipment, rent a building or expand your existing operations. If you don’t have enough capital to cover the expense, you may need to borrow it from a bank, a savings and loan association or a from a venture capital entity. However, your credit standing within the business world may determine whether you get the loan. As a small business, it is imperative that you build good credit as soon as possible.
Financial planning is gaining ground as a popular career choice. Individuals in this profession assist clients with money management both for the short- and long-term. A career in financial planning can be extremely rewarding. The following steps will guide you as you start your new business.
So you want to own a pub. Perhaps you always wanted to be Sam Malone on "Cheers," or perhaps you simply want to be a proud business owner of a beloved establishment. This is a great idea for someone who wants a business where life starts at night and there is always some excitement. A pub can be a challenge, and many come and go each year. It requires a great deal of forward planning in order to own a successful pub. You can achieve that in a few simple steps, and you will be well ahead of your game.
An operations business plan focuses on the logistics of a business and answers any question a lender might ask that starts with "how." Logistical details are the meat of an operations business plan, such as physical location, production equipment and production process. Operations business plans are often long because so much detailed information is necessary. The plans also include charts and graphs to present large amounts of information quickly.
It is important to properly account for all profits from a business, for tax reasons and also if you plan on taking your business public. The best way to do this is to keep accurate records of all business transactions. This article will help you properly account for your small business profits.
The days of knowing the family who runs the only general store in town are long gone. Not only are there competing stores in the community you live that carry similar products, but there are hundreds, even thousands of comparable stores online. It's hard to trust some of these unknown companies, but before you limit your shopping possibilities, learn to check a company's references.
If you want to start a hostel business and you want to know how and where, then you to do some extensive research about this small business opportunity. New hostel owners must look out for potential problems, but also stay open to great possibilities. Learn how to buy a hostel and turn it into a profitable business.
It's never too early or too late in life to make a plan to succeed financially and personally. Consider the following ideas on retirement preparation, career change and business success in the later years.
Many people frequently find themselves in a position where they either chose to or need to move to a small town. The moving process itself can be daunting enough, but for many the prospect of relocating to an area with limited resources and activities can be especially frightening. However, with a few basic steps even these movers can make the best of what might otherwise seem like a small catastrophe.
Hiring an employee can be a great help to your small business, but even if you're hiring a friend or previous colleague, you should consider creating an employee contract. Employee contracts protect both the employee and the employer by establishing important job expectations and the terms of employment such as hours and rate of pay. Taking a small amount of time to prepare a small business employee contract can save huge headaches down the road.
