If any of these sound familiar, make a New Year’s resolution to strike them from your vocabulary.

• I Don’t Know Enough to Start a Business. If you haven’t yet jumped into the world of entrepreneurship, stop letting excuses hold you back. You’ll never feel like a 100% expert in your field, so waiting for the “right time” may never come. Instead, make it your goal to start a business this year and learn as you go.
• I’m “Just” a One Wo/Man Show. I Can’t {Insert Excuse Here}. Being a solopreneur is no excuse for not trying to grow. Sure, you can only do so much, but you can also get help.  Start off by hiring an intern or freelancer, and hand some of your work over so you can focus on bigger picture stuff.
• We Don’t Have the Budget to Invest in Marketing. I know marketing sounds expensive, but trust me: it doesn’t have to be. There are plenty of strategies you can use — like blogging and guest blogging, social media, and email marketing — that are free or cheap. All you need is time to test them out. So no more excuses!
• We Don’t Need to Grow. We’re Happy Where We Are. Maybe that’s true…or maybe you’re afraid of what growth will bring. Indeed, it will change how you run your business. But that can be a good thing, so be open to stretching yourself and taking your company to the next level.
• I’m Not Smart Enough to Learn {Insert New Skill}. Whether it’s accounting software, social media management dashboards, or a blogging program, there are so many tools you have at your disposal as a small business owner…if you’re open to learning them. Don’t sell yourself short by telling yourself you can’t learn something that’s out of your comfort zone. That’s all the more reason to learn it! Make it a goal this year to learn one new skill or tool a month.

What other excuses have you been hiding behind? For a moment, imagine what you could do if you removed those excuses from the equation; what would your business look like if you stopped holding yourself back? Keep that vision at the front of your mind in 2015 and see where it takes you!

The post 5 Small Biz Excuses That Shouldn’t Follow You into the New Year appeared first on CorpNet.

Don’t let tax season overwhelm you. Believe it or not, the IRS isn’t out to get you, but they do want you to play by the rules. These tips will help you alleviate the stress you feel this time of year and help you maximize your refund.

1. You Can File an Extension

Now, I’m not encouraging you to procrastinate each year, but you can ask for an extension if it’s taking longer than anticipated. And now you can file for that extension online rather than fill out a pile of paperwork. An extension will give you until October 15 to file your taxes, but be aware: penalties and interest on what you owe start on April 16. So while you’ll avoid the Failure to File penalty if you file an extension, you will still have to pay a Failure to Pay penalty.

2. Sometimes It’s Better to Ask for Help

If you’re one of the millions of business owners struggling with your own taxes, consider whether it’s the best use of your time. You may think it costs more, but in reality, working with a tax professional or accountant may only run you a few hundred dollars. And when you factor in the savings they can help you recoup, it’s well worth it.

3. You’ve Probably Got More Writeoffs Than You Realize

So many small business owners don’t realize what they can write off on their taxes, including:

• Home office
• Education
• Health costs
• Charitable donations
• Energy-efficient upgrades

Be safe by first checking with the IRS to see what’s deductible.

4. Your Filing Status Does Matter

If you’ve incorporated a business as an S-Corp or formed an LLC, you’ll file your personal taxes as always, including the income you make from the business. So whether you file as married filing jointly or separately will have an impact on how much you owe. It’s wise to take the time to figure out what status is best for your situation.

5. You Can Save For Retirement and Realize Tax Benefits

Investment in your Traditional or Roth IRA, up to $5,500, is tax deductible, so why wouldn’t you take advantage of this?? You can even put in additional funds to your account (assuming you haven’t hit that threshold) until April 15th for last year’s contribution. This reduces your taxable income. Woo!

6. You Can Invest in Your Health and Be Rewarded

If you’re self-employed, have a high insurance deductible, or don’t have health insurance, your contribution to your health savings account is also tax-deductible. It’s nice to not have to choose between paying taxes and taking care of your health.

7. Paying Taxes Throughout the Year Relieves Your Financial Burden

I get it; a lot of businesses bury their heads in the sand until April, hoping the IRS won’t come knocking for that tax check. But it always happens, so why create a stressful situation for yourself year after year?

Instead, set aside money and pay the government quarterly (your accounting software can probably do this for you) so that you spread out your payments rather than scrambling to collect it all in April.

8. Recording Your Expenses is Easier

Used to be, we all had boxes of receipts stacked up in storage somewhere, just in case the IRS wanted to see them. Now we’ve got really cool tools like Expensify, Shoeboxed, and Milebug to scan our receipts and store them digitally, or easily track our mileage.

Tax season doesn’t have to be stressful. Just plan ahead and know all your deductible expenses.

The post 8 Top Secret Tax Tips the IRS Doesn’t Want You to Know About appeared first on CorpNet.

6 Tactics I’ve Found Effective in My Leadership Strategy

Do What You Say

I’m big on keeping my promises. Yes, I’m swamped, but when an employee asks me to do something, such as review their work or provide feedback, I make it a priority. That way, they know that my word is my bond, and that they can trust me.

Say What You Mean

I don’t believe in pussyfooting around something. I’m always honest. I refuse to lie or even expand on the truth to an employee, because I know from experience that it always backfires. People appreciate the truth, even if it’s ugly.

Be Big on Communication

Have you ever had a boss who blew up at you because you didn’t do something to his liking…only he never told you what he wanted? Yea, we’ve all been there, but knowing that it doesn’t help the situation means that, if anything, I’m going to overcommunicate just to make sure my team is on the same page. They may roll their eyes, but they know my intentions are good.

Support Your Team

Sometimes that means rolling up your sleeves and working alongside them to get a project done. It can also mean that when they need something, like your approval or appreciation, you give it to them. It’s easy to stay locked in your office, working on “more important” things, but remember: you wouldn’t be here if not for your staff, so make sure they know you’re rooting for them.

Admit When You’re Wrong

When you’re in a position of leadership, admitting mistakes can feel uncomfortable. After all, we’re the leaders! We don’t make mistakes! Except…we do. And your staff knows that. So rather than trying to point the finger at an innocent, be open and honest about what you did wrong, and see how you can fix the situation.

Maintain Some Distance

Look, my staff is like my family. I like having a meal after work with them occasionally. But I don’t make any mistakes: they’re not my BFFs. I am their boss. And there needs to be a little distance between us so that we keep that respect between us. It’s hard to respect a boss you’ve let your hair down around a few too many times, so make sure the employee/employer relationship is always there.

Being a leader is a gift. Don’t blow it. Think about all the crappy bosses you ever had, and do the opposite.

The post 6 Ways to Lead by Example appeared first on CorpNet.

What’s the best thing about working with your spouse?

Well…we have A LOT more to talk about at dinner and on date night.  Although it’s important to separate the stressful part of our work lives from our personal lives, I find it very beneficial to our relationship to share and discuss the exciting and/or creative parts of our business…even during “personal time.”  We really “connect” when we are excited about something at work.  Thus it’s always a good idea to discuss a new project or idea…but we NEVER discuss accounting, taxes, or legal matters on date night.

What’s the worst thing?

She knows EXACTLY where I am almost every minute of the day.  I’ll often get a “small” guilt trip when I sneak out for a massage or if I leave early and she remains behind putting out fires or addressing those “not-so-fun” tasks that every business must address.

Also, when one of us has had a stressful day due to a stressful event at work, we don’t really have each other to “vent” to.  I can’t just dump my work stress on her as she is under the same load as I am.

What’s one lesson you’ve learned the hard way on your journey together?

“TRUST HER INSTINCTS!”  My wife/partner has only our best interests at heart.  Often, she’ll see something, potentially harmful, in a situation or in a person that I fail to see.  Nine times out of ten, she was right!  I have learned to defer to Nellie’s judgment whenever she says “No…let’s avoid this person or situation.”

What are your rules for keeping work and life balanced?

I take care of “ME” first.  That doesn’t mean that I behave in a selfish or self-serving manner.  However, I have personal challenges that I face on a daily basis.  Unless I take the time, each day, to prioritize, plan, and execute, nothing will get done and I’ll end up in a tailspin by the end of the week.  For example, for me, its important that I  eat healthy, exercise daily, spend quality time with at least one of our four kids daily…even if it’s only a few minutes,

Also, I am a creative and passionate entrepreneur; I must continually work toward maintaining focus or else I am all over the place.  One of the worst feelings for me is having a million ideas and executing on none of them.  I have found that “singleness of purpose” is often very helpful during my day.  Multi-tasking is my enemy.  On the other hand, Nellie is THE BEST multi-tasker I have ever met.

How do you make Nellie happy in the office?

I’ll buy her flowers once per month…randomly…for no special occasion.  I “try” to stay out of her way when she is managing her team…I have a tendency to take over and drive whenever the subject matter falls within my expertise…and once I’m on a roll, it’s hard to stop me.  Thus, I “TRY” to sit there and just look pretty while she’s speaking to the team.

The post What I Love About Having My Business Partner as My Valentine appeared first on CorpNet.

Short of closing your business for several months (not happenin’, am I right?), here are a few strategies to help you keep your business booming while still being a kick-butt parent.

1. Get Help

Before you do anything, get help. That could mean talking to your spouse about dividing up your schedules so that one parent is always available, sending the kids to summer camp, or hiring a babysitter. At work, getting help can mean assigning more work to your right-hand man/gal so you can spend more time at home.

You won’t be able to run your business and entertain your kids all day long, so set yourself up for success by finding help that will make the summer fly by.

2.  Switch into Minimal Operations for the Summer

Be honest with yourself: how much work do you really need to get done right now? It’s not the best time to start a new project or take on new clients if you want to focus on your kids right now. So let your business run on autopilot as best you can.

If, for example, you can work on projects ahead of time (graphic designers and writers can do this pretty well), consider completing any work you know will be due early so you can clear your schedule.

Consider reducing hours for your retail store or restaurant on slower days.

3. Get Your Kids Involved

You don’t always have to separate your kids from your work. If they’re older, bring them to the office and show them around. Talk to them about what you do. Give them a project to work on while you get some of your own work done.

If you’ve got teenagers, consider hiring them for the summer. They’ll learn valuable work lessons, and you’ll be able to keep an eye on them.

4. Be Flexible

You may not be able to work 8 to 5 easily for a few months, so find out what schedule you can work without disrupting the household. Take your work home and get up before the kids (not hard when they sleep so late) to work on your business. Work after they go to bed.

5. Do One Thing at a Time

What you don’t want to do is juggle both your roles as entrepreneur and parent at the same time. It will end poorly, I promise. Don’t send work emails while you’re supposed to be building things with your kids at the museum. And don’t take work calls while your kids are screaming in the background. You’ll be better at each role if you only do one thing at a time!

Summertime can be a challenge for entrepreneurs, but it doesn’t have to be. Just get a plan together, be willing to change things up, and put your focus on one thing at a time. What’s your secret to staying sane with the kids home?

The post 5 Small Biz Secrets of Success When Your Kids are Home for the Summer appeared first on CorpNet.

1. Make the Job Fit the Person

Sure, when we first post a job description, we are looking for a specific set of skills in our next hire. But as we get to know each individual, their strengths begin to shine. We look for ways to enhance what they’re already passionate about. So if Katie in our Sales department is also adept at managing social media, we’re happy for her to take that over.

We want our staff to love what they do, as well as to be able to take on more of what they really enjoy doing. We don’t let those initial job descriptions limit them.

2. Implement Their Ideas

Around the office, our team knows if they have an idea on how we can run CorpNet smarter, they can bring it to me or Phil. And we don’t just smile blankly and say, “Uh huh. Great idea. We’ll take it into consideration.”

We actually use our employees’ ideas for improving productivity, marketing better, and overall being a smarter company. They appreciate being a part of the brains behind the company.

3. Check in With Them

I’ve said it many times: the CorpNet team is family. I know about their spouses, their kids, their high points, and even their low points. I stay connected to them. It’s important for me to know that, as an example, an employee’s grandmother is really sick. I can loosen the reins on expectations rather than just getting upset that he’s not being his usual productive self and me not knowing why.

4. Treat Them Well

If you want your employees to stick around, make them want to. That means paying them competitively, offering regular raises, and giving bonuses if you can afford it. But treating them well isn’t just financial; close down the office at noon one Friday and go have a drink together. Take one employee who’s gone above and beyond out to lunch. Buy a nice coffee maker. It can be small gestures that make a difference and make staff want to stick around.

5. Offer Employee Stock

One strategy we’ve found successful at improving turnover rates is to offer key employees stock. Not only does this give them a reason to stay at your company, but it also shows them how much you value them.

There are a million ways you can make your staff feel valued and encourage them to stay with you for years. Just pay attention to them and show them appreciation for a job well done!

The post 5 Tips to Creating Loyal and Long-Term Employees appeared first on CorpNet.

Where Would We Be Without Them?

Whether it’s your secretary, your assistant, your receptionist, or anyone else that makes you look good, keeps you organized and on time, and acts as the backbone of your company, you owe a lot to your administrative staff. Imagine a day without them. I bet you’re sweating at the thought!

A Round of Applause, Please

Let’s look at five ways you can let the admins in your office know how much you care.

1. Acknowledge the Day

Want to give your admin team a shock? Wish them Happy Administrative Professionals’ Day on April 22. They probably don’t even expect you to know that it’s a holiday, so it can go a long way to showing that you’re aware of the great job they’re doing. A handwritten card wouldn’t hurt, either.

2. Give a Gift

I won’t go into all the gift possibilities here, but suffice it to say: your staff will appreciate a gift, whether it’s flowers, a gift card, or something personal that they’d like. Just make sure the gift is appropriate (I’m thinking no bath oils to opposite sex staff!). A cash bonus is okay.

3. Give the Gift of Time

Your staff might appreciate one thing more than flowers: time off. If you can afford it, give your receptionist the day or afternoon off. Or let her pick her own day off, to use when she really wants it.

4. Don’t Forget Kind Words

More than anything you could buy your support staff, your appreciation goes a long way, especially if you don’t often think about giving it out. While today you absolutely should tell each individual employee how much you appreciate their hard work (maybe even pointing to specific examples), go beyond this holiday and build in those pats on the back throughout the year. Staff that gets regular support from their boss will be more ready to help you grow the business through hard work and dedication.

5. Talk to Them

I find that just taking a minute and having a conversation with each of my employees (not at the same time!) works wonders in helping them open up to me. Simply by taking an interest in them, I can foster that relationship.

Mark your calendar for next year so you have more time to plan out how you will show your appreciation!

The post 5 Ways to Show Administrative Professionals a Little Appreciation appeared first on CorpNet.

But did you realize that if you incorporate a business, how you file your small business taxes and how much you pay can sway in your favor (depending on the corporate structure you choose)? Let’s take a look at how incorporating affects your taxes.

Small Business Taxes and the C Corporation

As I said, being incorporated can be better for you taxwise, but not always. If you incorporate as a C Corporation, there’s actually some drawback to your tax situation. Essentially, you’re taxed twice on profits:  you’re taxed on the profits of the corporation, then you as a shareholder are taxed on your dividends that you receive from the company. And the tax rate for a corporation can be higher than what it is for a sole proprietor.

Small Business Taxes and the S Corporation

For that very reason of double taxation, many businesses opt to incorporate as an S Corporation. While there are some drawbacks to the S Corporation, especially if you want to have more than 100 shareholders, from a tax perspective, the S Corp can’t be beat. You’re taxed only once on profits, and you report your business profit and loss on your personal income tax statement. So you only file taxes once. This is called “pass through taxation,” and it’s why so many of our customers choose the S Corp business structure.

Reduce the Chance of an Audit

If you continue to operate as a sole proprietor, the chance of the IRS auditing you is much greater than if you’re incorporated. Even if you keep meticulous records of your expenses and receipts, many sole proprietors don’t, and the IRS is more likely to scrutinize tax filings from individuals operating as sole proprietors.

Being incorporated, by its very nature, requires more stringent paperwork and compliance, and therefore, there is less need for the IRS to give your tax return a second look. That’s just one more reason why you should consider incorporating your business.

The post Small Business Taxes and How Incorporating Affects Them appeared first on CorpNet.

1. Decide: DIY or Professional?

Your decision here can determine how easy it is to get your taxes filed. If you’re filing them yourself (easiest for solopreneurs with simple tax situations), you might need more than a day or two to do so. Start blocking off time to sit down and go over your taxes. If you’re planning to hire a tax professional, it might not take as long to do, but you’ll be competing for that pro’s time. Book your appointment now so you don’t miss the deadline.

2. Consider an Extension

If you’ve been frantically working to pull together all the necessary documents to file your taxes, but still don’t have them, you can file an extension. This can get you up to 6 months to work on your taxes. It’s not ideal, but sometimes it’s the best option.

3. Gather Your Documents

From 1099s to profit and loss statement, you’re going to need everything that represents your financial transactions in the past year. If you’ve kept good records in your accounting software — or if you have an accountant — this will be a breeze.

4. Ready Your Tax Deductions

If you work with a tax professional, this will be easier, but it’s wise to start listing the expenses you think qualify for tax deduction, such as your home office, travel expenses, and office supplies.

5. Know How Your Business Structure Affects Filing

Are you operating as a C corporation? If so, you’ll need to file two tax forms: one for the business, and another for your personal income, which will include the dividends you’ve received from the business. For sole proprietors, LLCs, and S corps, you’ll file everything on your personal taxes.

6. Get Your Important Numbers Ready

In addition to having the proper paperwork handy, you’ll also need either your social security number, which you probably have memorized, or your employer identification number (EIN) to file your taxes under. If you don’t know that one by heart, look it up.

7. Get a Payment Plan

Even if you haven’t filed your taxes yet, it’s a good idea to think about how you’ll pay what you owe. If you have the money set aside, so much the better. If not, you’ll need to set up a payment plan. Keep in mind: you’ll need to owe $25,000 or less in payroll taxes to qualify for a payment plan with the IRS.

8. Decide How You’ll File

If you’re going DIY, will you use paper forms or tax-filing software like TurboTax? There have been some great deals on TurboTax on Groupon, so if you keep your eye open, you might be able to save some money (that you can then put toward your taxes!). Also, you may qualify for the IRS’s Free File program if your income is low.

9. Get Your Questions Answered

Who wants to call the IRS hotline this time of year? Instead, use the Interactive Tax Assistant from the IRS to make sure you know what you need to before filing.

10. Tie Up Loose Ends if You Closed a Business

If you closed your business in 2014, you still may owe taxes for last year, so plan to still file them. Check with the IRS to fill out the appropriate form for your business structure.

11. Do the Math

If you are a consultant or freelancer and receive 1099s, make sure the total for all you’ve received matches your profit line on your balance sheet. If not, go with the bigger number. Not all of your clients are required to send you a 1099 if they don’t pay you over $600, so trust that your invoice system has recorded what you need to report.

12. Estimate Your Taxes

If you plan to file an extension, you will still owe taxes on April 15. Estimate what you owe and pay it, if possible. Otherwise, see #7 and set up a payment plan.

13. Don’t Wait Until April 15

Just because that’s the last day you can file without penalty doesn’t mean you should. Business taxes often take a while, and if you find out at your accountant’s office that you need another form, you simply won’t have time to get it before the deadline if you procrastinate. Better to get it done early than to get hit with a late fee.

14. Plan a Little Rejuvenation Afterward

Tax time is stressful! Plan to reward yourself after you file with a day off or some pampering. Consider this a fresh start to a new tax year!

The post 14 Days Until Tax Day? 14 Things You Must Take Care Of appeared first on CorpNet.

So where DO you find the right people?

Referrals

The people you do business with, your existing employees, and your friends and family are a great place to start your quest for a motivated employee. There’s a reason why referrals account for 40% of all hires. The people others send to you tend to be more self-starters and enthusiastic workers.

Offline Networking

A fantastic way to find your next hire is through local networking events. Because you get to spend time interacting with people before you even consider them for an open position, you get to see them for who they are. Do they show up early for every meeting? Are they an active participant in the group, going above and beyond to help guests? Do you hear great things about them from other members?

Whether any of the people you meet in your networking are looking for a job or not, you can also use the group to get referrals for possible job candidates for your company. These are people you will come to trust over time, and you can trust the people they refer to you.

Online Networking

Your networking to find a motivated employee isn’t limited to your geographic area. If you use social media for your business, you already have a built-in network of people who may be able to point you to your next employee.

LinkedIn is a fantastic tool for hiring; browse the profiles of people you know and see if any of them have the skills you’re looking for. You can also put the word out that you’re hiring through your various profiles.

Headhunter

Another time-saving way to find motivated employees is by using a headhunter or an outside staffing agency that’s tapped into your industry and can quickly find the best talent. At CorpNet, before we bring potential candidates for interviews, we first do video interviews to get a first impression and save time on in-person interviews.

An Employee Referral Program

I mentioned that employees can be great referrers of future hires. You can ensure that they send you the best of the best by setting up an official employee referral program. Whenever you hire someone that an employee has referred, you can offer them a monetary bonus. What more inspiration than to help you find your next hire?

Having the right people on your team is critical for the success of your company. Spend plenty of time on the process to ensure you find the people you need.

The post How To Find Motivated Employees for Your Small Business appeared first on CorpNet.