Small Business Advice & Info

Posted By: Bob Buskirk on January 3rd, 2007
7 Comments... What do you have to say?

There are a lot of things you learn when venturing into starting your own business. From taxes to what type of business to register under. You are usually out on your own when it comes to these things and they are really a pain to research. Some things can really bite you in the ass like taxes and know what to take out of each payment you get from Google or Yahoo. Last year filing my taxes was such a headache and I learned a lot of things this year that will help me save more. When you own your own business it is always good to know about business laws, money spending, and of course taxes. I have found one site that has free advice for small business owners. This site does have a lot of good information on it, and they already have an article on Tax Law Changes for Business in 2007, which could be very helpful for a lot of people. I just learned that the Standard Mileage Rate has increased to 48.5 cents. So that means the cost of operating my car for every business mile driven is 48.5 cents. There is a ton of other interesting information so check it out!

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7 Responses to “Small Business Advice & Info”

Financial Imbalance said on January 3rd, 2007 at 10:07 pm

Thanks for the excellent resource, always nice to stumble upon resources regarding tax breaks. Great site for small business owners.

[Reply]
Ken Larson said on January 7th, 2007 at 1:26 pm

There are many good points in your article. I would like to supplement them with some information.

For an all-volunteer site, dedicated to small businesses who wish to succeed in federal government contracting, please see the below site:

http://www.smalltofeds.blogspot.com/

The federal government will contract in excess of $80B to small businesses in the next fiscal year.

There are over 50 agencies or “Departments” in the federal government. Each of these agencies has a statutory obligation to contract from small business for over 20% of everything it buys.

Contracting officers must file reports annually demonstrating they have fulfilled this requirement. Not fulfilling the requirement can put agency annual funding in jeopardy. Small business has a motivated customer in federal government contracting officers and buyers.

Large business, under federal procurement law, must prepare and submit annual “Small Business Contracting Plans” for approval by the local Defense Contract Management Area Office (DCMAO) nearest their headquarters. These plans must include auditable statistics regarding the previous 12 month period in terms of contracting to small businesses and the goals forecast for the next year.

The federal government can legally terminate a contract in a large business for not meeting small business contracting goals. Approved small business plans must accompany large business contract proposals submitted to federal government agencies. Small businesses have motivated customers in large business subcontract managers, administrators and buyers.

There are set-aside opportunities available for small entities,veterans, disabled veterans, women and minorities. All it takes is navigating the system, persistance, asking questions, registering, marketing, teaming and working hard.

Small Business America is good at that.

[Reply]
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