SelfInformed

July 2015

  • What Is Your Data Worth and Where Should You Store It?

    Jul 27, 2015

    We live in an information age! The manner that your data is managed provides an essential competitive edge to your business. The right data can help you unlock the potential of your business. A robust data management plan will provide insights growing or starting your business by focusing on building revenue and reducing costs. It is therefore imperative that due diligence is applied to the gathering, processing, storage and interpretation of your data to maximize its productive impact.

  • 1099 Employee Paperwork

    Jul 27, 2015

    Q: I have hired a new 1099 employee and I don’t know what paperwork I need to complete at the end of the year? Do I prepare a W-2 or a 1099? Help? A: Congratulations on creating a new position! Don’t forget that over 70% of all new jobs created in the United States come from small business owners just like you, so keep up the good work. Let me start with a few definitions related to your new worker to whom you referred to as a new “1099 employee.” This is a very common phrase and confirms the confusion related to worker classification since an employee would receive a W-2 at the end of the year, while an independent contractor would receive a 1099. From a definition standpoint, the term “1099 employee” is similar to an orange apple, meaning the two words just should not be used together.

  • Seeding Self Employment

    Jul 27, 2015

    Joseph Swanson is the owner of Swanson’s Evergreen Nursery located in Niagara, Wisconsin. Throughout High School Joey was very active, keeping a 3.9 GPA (second in his class) while participating on the Basketball, Football, Soccer, and Track teams. Upon Graduation, it was no surprise to anyone that Joey was already running his own business. Swanson’s Evergreen Nursery grows most of their Evergreen trees (Christmas Trees) from seed, and ships and sells their products throughout the Midwest.

  • Legislation Introduced To Allow For HRAs

    Jul 27, 2015

    Last week in congress, Reps. Charles Boustany (R-La.) and Mike Thompson (D-Calif.) in the U.S. House and Sens. Charles Grassley (R-Iowa) and Heidi Heitkamp (D-N.D.) in the U.S. Senate introduced bipartisan legislation, Small Business Healthcare Relief Act (S. 1697/H.R. 2911). The legislation would enable small businesses to continue to use Health Reimbursement Arrangements (HRAs), which allow employers to provide pre-tax dollars to employees to pay for medical care and services.

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