Beginning January 1, 2008, the standard mileage rates for the use of an auto (including vans, pickups or panel trucks) are (1) 50.5 cents per mile for business miles, (2) 19 cents per mile for medical or moving purposes and (3) 14 cents per mile for service to charitable organizations.
The 1007 rates were 48.5 cents for business miles and 20 cents for medical and moving. These rates are based on an annual study done by an independent contractor of the fixed and variable costs of operating an automobile. The charitable rate is unchanged because it is set by statute.
A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System or claiming a Section 179 deduction for that vehicle for any vehicle used for hire (such as a taxi); or for more than four vehicles used simultaneously.
Sandy, Resident Agents of Nevada, 775 882-4641
agents@nevada.org, http://www.nevada.org
Sandy on February 4th 2008 in Women, travel, Tips & Ideas, Real Estate, Independent Contrators, Entrepreneurs, Entities
Just when you think things couldn’t be worse because you’ve lost your home to foreclosure–here comes the IRS to make things worse. Somewhere deep in the tax code is a concept called Cancellation of Debt (COD). It’s pretty complicated but basically says that if debt is forgiven–then it could be taxable unless you can prove an insolvency exception. Confused yet?? I am.
The IRS has created a special Web Section For Homeowners Who Lose Homes: Foreclosure Tax Relief Available to Many. It was designed for people who have lost their homes due to foreclosure. Although mortgage workouts and foreclosures can have tax consequences, special relief provisions can reduce of eliminate the tax bit for financially strapped borrowers who lose their homes. Go to the IRS website http://www.irs.gov
Congress is considering a fix to some of the COD issues–however, they’ll probably take so long and complicate it so much…that you’ll need to do your research in the meantime.
Sandy, Resident Agents of Nevada - Corporation Formation
agents@nevada.org
775 882-4641
Sandy on January 16th 2008 in credit cards, Technology, Women, Tips & Ideas
Most people are aware that they can take a tax deduction based upon the percentage of business use (square footage of business portion of the home divided by total square footage)…but not many small business owners know about IRS Publication 587. In that publication the IRS says that a taxpayer can base the percentage based upon the number of rooms or another reasonable method. Let’s say that you use one room of a 7 room house for your home office. The room is 300 square feet and the total house is 3,000 square feet. Based on the square footage formula, you could deduct 10% of household expenses such as rent, utilities, insurance etc. If you use the “number of rooms” method, you could take 14.3% of the household expenses as a tax deduction. Not bad huh!
Sandy Miller, Resident Agents of Nevada, Inc. 775 882-4641
Nevada LLC Formation, agents@nevada.org
Sandy on December 5th 2007 in Women, Technology, Tips & Ideas, Real Estate, Entrepreneurs, Entities
If you’re not familiar with the term Single Member LLC–what it means is that you have set up and LLC (preferably in Nevada) and under IRS rules you do not “check the box” the indicate that you want to be taxed as a corporation–the default is automatically to a “disregarded entity” and all of the income, expenses and losses are reported on the single members individual tax return. Of course–all of this “single member” discussion is predicated on the fact that there is not partner(s) involved. It can be pretty nice to have all of the advantages of having an entity–but not having to file a separate return. UNLESS, you are operating your LLC in a State with no income tax (like Nevada) and then filing your personal return in a State where there is a State income tax–like California. So, what’s your option if you live in a State with ridiculous State Income tax rates and you want to operate an LLC.
Simple, there is an option to “check the box” on a Form 8832 for Entity Classification and that allows your single member LLC to be taxes as if it were a corporation. This works great if you have retained profits and want to retain the earnings at a corporate tax rate instead of an individual tax rate.
The real importance of the Single Member LLC discussion is that if you are a one man/woman band running a company–you’ll want to have one to avoid personal liability in addition to all of the other advantages of having an entity.
You should call our company today and we can discuss what would be best for you. The only thing it will cost you is your time–and, if an LLC is what you need, you’ll want to get it set up right away so that you can write off the set up costs in 2007.
Sandy, 775 882-4641, Resident Agents of Nevada
LLC Formation, http://www.nevada.org
Sandy on November 21st 2007 in Tips & Ideas, Real Estate, Entrepreneurs, Asset Protection, Entities
You still have some time to get so additional deductions on your State or Federal Tax Return for 2007 if you hurry. Here’s a few ideas to consider.
- Any deductible expense such as medical, mortgage interest, investment fees, legal expenses, alimony or tax advisory fees
- College Savings. Several states let you take tax deductions for contributions to Section 529 college savings plans. If you’re not at the maximum, a contribution may be in order.
- Sales tax. You can deduct sales tax on your federal return if it produces a greater benefit than deducting state income tax. That’s true here in Nevada since we don’t have a State income tax. So, if you’re going to make a big ticket purchase like a car–perhaps it would be a good idea to do it in 2007 vs waiting until 2008
- Prepaid expenses can also be deducted such as tuition or education costs, state and local income tax and also property tax payments
- And, certainly at this time of year, consider making some charity deductions to those who are less fortunate. Think about your favorite charity and write another check. Just make sure you get a receipt.
- Contributions to retirement plans such as a 401K, IRS, Keogh or other retirement savings plans.
- Capital losses up to $3000 net loss can be deducted against ordinary income.
- If you have a small business, you can deduct up to $125, 000 if equipment is put into service before year end. Also think about buying additional supplies, buying additional advertising and pay all outstanding bills if you use cash basis accounting methods.
- Personal write-offs could include gifts to family members ($12,000 per recipient) and gambling losses (remember winnings are taxable)
A little pre-planning could make filing that return in 2008 a lot more pleasant.
Oh, and while I’m thinking about it–I hope everybody has a safe and happy Thanksgiving Holiday. By the way, if you invite a business acquaintance to dinner–a portion of your expenses will be deductible!!!
Sandy, Resident Agents of Nevada, Inc., 775 882-4641
agents@nevada.org, http://www.nevada.org
Sandy on November 20th 2007 in Women, Technology, Tips & Ideas, Entrepreneurs, Asset Protection, Corporate Credit Strategies, Entities
Sole proprietor tax returns are at the top of the IRS audit list–and that basically means that if you file a Schedule C with your tax return–you are putting yourself in jeopardy. The reason that they state is that their research shows the sole proprietors underpay taxes by far more than any other tax group. Tax Hotline states that small business sole proprietors underpaid their taxes by $68 Billion compared with only $30 Billion for all of the large corporations in 2001 (I guess their research is a little behind–but I imagine the ratio is still about the same).
Former IRS Commissioner Mark Everson has stated: “Our increased focus will be on those individuals who are filing 1040s and are running businesses that are not incorporated…typically individuals that file Schedule C.
Some areas that are real hot buttons appear to be:
- income is underreported or losses are overstated
- where the business is a hobby instead of a legitimate business
So–the best option is to have a corporation or LLC and Nevada is by far the best place to set up an entity. I’m not trying to toot my horn too much–but our company does just that–make it easy to set up a corporation or LLC in Nevada and then act as your resident agent. We’re glad to have a discussion about what you need at no charge. Please give us a call and see what I’m talking about…it beats talking with the IRS.
Sandy, Resident Agents of Nevada, 775 882-4641
agents@nevada.org, http://www.nanosecond.com
Sandy on November 19th 2007 in Tips & Ideas, Entrepreneurs, Asset Protection, Entities
In my last blog I mentioned an easy to use to do list products from 37 Signals called Ta-Da Lists. http://www.37signals.com After I wrote the blog I did a little more searching on the web to see how to use it and stumbled upon a new application that lets you put Ta-Da Lists on your IPhone.
I was a first day IPhone purchaser (yes, I got my refund!). It is so exciting to see applications to add to my phone. The comments about the application look pretty good so I’m going to give it a try. I’ll comment later on my success.
Anybody out there already loaded Ta-Da Lists on their IPhone yet? I’m curious about their success. Let me know please.
Sandy, Resident Agents Of Nevada, Inc. 775 882-4641
agents@nevada.org, http://www.nevada.org
Sandy on November 13th 2007 in travel, Technology, Women, Tips & Ideas, Entrepreneurs
Wow–I’m so surprised that there are so many rich products that allow for work sharing. A company called 37 Signals http://www.37signals.com has a product called BaseCamp that looks pretty impressive. It helps you manage multiple projects at a time with to-do lists, file sharing, chatting, messages, calendars and time tracking. They even have a “trimmed-down” free version which is a great way to start out. If you like it, they have reasonably priced monthly offerings.
They also offer a product called Highrise for online address books, tracking leads and simple CRM. Campfire (I love these names…what great marketing) is a product for instant messaging for groups “real-time group chat”. This would be especially good for remote teams.
You’ll love this one–how about Ta-da List (simple to do lists), Writeboard (collaborative writing)! There are several other tools that are for techies.
If you want to keep up with these folks, subscribe to their monthly newsletter on their website http://www.37signals.com
Sandy Miller, Resident Agents of Nevada, 775 882-4641
http://www.nevada.org
Sandy on November 13th 2007 in Technology, travel, Women, Tips & Ideas, Entrepreneurs, Entities
Well, I wouldn’t have thought that anybody would use MySpace for sharing business documents–but I guess it is happening. I just read an article that talked about a guy who works from his home in North Carolina and reports to South Africa. He puts his document online to save time. He and his peers use a “private” Facebook group to share files and store contact information–sort of a public Rolodex. I’m not sure that I’d be comfortable with the security of this solution. Anybody else have thoughts….this one gives me the willies!
Sandy Miller, Resident Agents Of Nevada, 775 882-4741
http://www.nevada.org
Sandy on November 11th 2007 in Technology, travel, Women, Tips & Ideas, Entrepreneurs, Entities
Once I started researching information about working from home or working as a part of a dispersed group of people, I began to find quite a bit of information about potential products to use for business documents and files.
It seems that because of blogs, social networks and, even photo sharing–many of us are comfortable with web based systems and moving things that used to be guarded on our pc’s or personal desk files online. Simply amazing!
Making relevant business documents and files available to peers or clients can increase productivity and creativity. From business strategy papers to spreadshseets to brainstorming notes–sharing documents online is essential to getting input from colleagues. And, doing it by email is “antiquated” and clumsy. You shouldn’t have to sort through folders to find attachments to work with a document!
Secure online services simplify making files accessible to co-workers. Free services such as Google Socs and Spreadsheets and Microsoft’sLive Folders allow you to store up to 500 megabytes of content. The services enable you to specify the people (by email address and passwords) with access. There are also subscription services such as Box.net that offer additional security, storage capacity (up to 15 gigabytes) and workgroup features for about $20 per month.
Sandy Miller, Resident Agents of Nevada, 775 882-4641, agents@nevada.org
http://www.nevada.org
Sandy on November 9th 2007 in Technology, travel, Women, Tips & Ideas, Entrepreneurs, Entities
I just saw a demo of a web based program that is a collaboration suite that uses the power of the web to make it easy for everyone to work together. It’s another natural for a small company with busy, dispersed employees. It can also be used to collaborate with clients worldwide. It includes:
- Document Manager–for sharing documents with anyone
- Online Calendar–schedule group meetings and events or check calendars
- Web Meetings–available as a special option
- Task Manager–manages tasks and activities
- Web Databases–for individual or group access
- Contact List–business & personal
- Expense Reports
The ability to share calendars, documents and data can keep everybody in the organization up to date, informed and productive–simply and easily. Everything is also safe and secure protected by secured permissions, industry-leading virus-scanning and daily backups.
And, once again, the price is amazing. For as many as five participants, the monthly charge is $59.95. (web meeting and email mailboxes are additional). There is a 30-day free trial available by accessing the website http://www.weboffice.com
Sandy, Resident Agents of Nevada, Inc. 775 882-4641
agents@nevada.org, http://www.nevada.org
Sandy on November 7th 2007 in Technology, travel, Women, Tips & Ideas, Entrepreneurs, Entities
If you want calls to your business to be answered and sound professional and you want to implement a system that will keep you and your employees connected–take a look at http://www.gotvmail.com
It is a reasonably priced offering that lets you use a toll free or local number, have multiples extension, live call forwarding, music-on-hold, dial-by-name directory and many other features that makes a small business appear like a Fortune 500 company. When callers dial your GotVMail number, they hear a custom main greeting giving them options from which to choose i.e. “Thanks For Calling Widget Company, please dial 1 for sales, 2 for support ….” Or you might want to customize it to have dial 1 for Jim, dial 2 for Charlie…
Since each extension can forward to up to six phone numbers, you can be reached on your home, office, mobile or VoIP phone. You can assign extensions to departments or employees and let the find-m-follow-me functionality of call forwarding connect callers to the right person. You can also give callers access to information such as product info, store hours or driving directions using Informational Extensions.
The powerful features that are available from GotVMail are also reasonably priced. The smallest package is under $10 per month. It looks like a real value for the entrepreneur.
There is a great demo on their website of the capabilities and a list of prices. Take a look–I think you’ll be impressed
Sandy, Resident Agents Of Nevada, Inc. 775 882-4641
agents@nevada.org, http://www.nevada.org
Sandy on November 5th 2007 in travel, Technology, Women, Tips & Ideas, Entrepreneurs
Take a look at this great website http://www.flightstats.com. It has all kinds of helpful information for travelers. For instance, it tells you average flight delays for airports, waiting times in security lines and published airfares as they are changed and all kinds of data for not only US airports but also international airports.
The way that I found out about the site is through my husband (an avid internet surfer). I was returning from Florida with a connection through Dallas. He was able to put in my flight numbers and the site showed where the airplanes were as the flights progressed. He knew more about what was happening that I did (just ask him–that’s usually the case!)
Anyway, give it a try. I think you’ll find it helpful and interesting.
Sandy, Resident Agents Of Nevada, 775 882-4641
http://www.nevada.org
Sandy on November 1st 2007 in travel, Technology, Women, Tips & Ideas
Do you love to go out for lunch or dinner? I do and I’m a real “foodie”. Open a new restaurant and I’m there. Even if you’re just thinking about starting a new company, you can invite a guest to lunch or dinner and write off the expense on your taxes. There are some things that you need to do. Keep a record of the date, attendees, restaurant, cost and the things that were discussed. Then it is perfectly legal to write off the expense.
As always, consult with your tax professional to make sure there aren’t any other restrictions. And, of course, once you are in full operation, you’ll want to continue to grow relationships with suppliers and clients–and you also have the ability to write off those meal expenses.
Sandy 775 882-4764 agents@nevada.org
Resident Agents of Nevada, Inc. http://www.nevada.org
Sandy on October 26th 2007 in credit cards, travel, Women, Tips & Ideas, Business Plans & Analysis
Another great 60 Second writeup from http://www.score.org
This one is great if you know that you want to start a new business and you just haven’t put your finger on exactly what it is going to be. In this guide they give you ideas that can get you started. Here’s my 30 second overview:
- It’s all about your attitude
- Put yourself in the customers spot and think about what you’re looking for
- Seek out somebody as your “sounding board”
- Do your research and then do it again and again
- Hang on to your career until you’re sure your idea will support you and succeed
- Put all of your research into a written plan
My paraphrase doesn’t do this guide justice. Take a look for yourself.
Sandy, 775 882-4641, sandy@nanosecond.com
Resident Agents Of Nevada, Inc. http://www.nevada.org
Sandy on October 22nd 2007 in Women, Tips & Ideas, Entrepreneurs, Business Plans & Analysis, Entities
As I mentioned in a prior blog, I think the American Express Platinum Awards program stinks! We just haven’t used many awards at all, imagine 92,000 points translate to two one way domestic tickets. Anyway, my business partner (and husband) got tired of the restrictive MBNA Travel Award program and Amex and he started doing a little searching around for the best travel deal for our points.
The reason why this is so important to us is that we use our credit cards to charge the fees that we pay for new filings and renewals for clients at the Nevada Secretary of State. Think about anything you buy for your business. Can you charge it on a credit card and then get points toward business or personal travel. Those points can really add up.
Anyway, he found the Starwood Platinum American Express Card. Currently you get 10,000 points with your first purchase and an additional 15,000 points in six months. The card lets you get free nights and upgrades at over 825 Starwood hotels and resorts.
The very best feature is that you can transfer Starpoints–almost always on a 1:1 basis–to the frequent flyer programs for over 30 major airlines!!! This is great.
If you already have an Amex Card, you can apply over the phone and get your approval. The first year is free and subsequent years are $45.
Sandy, 775 882-4741, agents@nevada.org
Resident Agents of Nevada, Inc., http://www.nevada.org
Sandy on October 20th 2007 in travel, credit cards, Technology, Women, Tips & Ideas, Entrepreneurs
At http://www.hp.com they have several business articles that you’ll find helpful. Here are a few of their suggested tips to keep your email communication business-like:
They urge you to thing of your email as a permanent record just like a paper memo. And, remember, it really isn’t private and can be forwarded anywhere.
Here are a few tips:
- Start with a salutation (just like you would on a letter like Good Afternoon Joe)
- Include a relevant subject line so that the receipt can find it later
- Gauge the formality by your salutation (instead of Joe make it Mr. Goodreader)
- Be concise
- Separate your paragraphs with a full line–not an indentation
- Don’t use all caps unless you intend to SHOUT (I love this one)
- Save “smileys” for your personal correspondence
- Don’t overuse abbreviations or acronyms and not “lol” either
- Use humor very carefully—it doesn’t translate well
- Do not forward chain mail or jokes
- Be careful not to use the “reply all” function
- Reread, reread before hitting the send button
- Always spellcheck
There’s more on HP’s site. My favorite tip is Favor clarity over complication
Sandy, 775 882-4641, agents@nevada.org
Resident Agents Of Nevada, Inc. http://www.nevada.org
Sandy on October 19th 2007 in dog
I seem to be getting a lot of good information from HP’s site http://www.hp.com
Recently I saw an article about many of the “sins” that we PC users commit that can affect how our machines operate and put us in jeopardy. Thought I’d share them with you:
1. Failing to keep our anti-virus protection updated
2. Downloading unsafe material like music and movies from Kazaa or Limeware–peer to peer programs can contain worms and viruses
3. Forgetting sufficient power protection with a surge protector or UPS
4. Neglecting to back up data with with either CD’s, Flash Drives, External Hard Drives or using an offsite service. Computers need backed up frequently.
5. Ignoring Windows updates–these have security patches and service packs to keep your PC safe
6. Misusing email attachments like attempting send send huge files such as videos or photos without “zipping” the data for faster transmission. Also you should always scan email attachments before opening to make sure that they don’t contain a virus.
7. Friends & Family using your PC–since you don’t know if they practice “safe” computer operation and they can change settings and download dangerous files.
And, when all else fails (and it will if you commit the above “sins” enough) have a good technician that you can call to bail you out of whatever mess you get into.
Sandy 775 882-4641 agents@nevada.org
Resident Agents Of Nevada, Inc. http://www.nevada.org
Sandy on October 13th 2007 in Technology, Women, Tips & Ideas, Entrepreneurs, Entities
Travel deals usually last for a few hours only. You can be lucky and catch one by browsing travel sites or get emailed about flight deals that depart at 5 am with three stops. (Not sure you would want that anyway) Or you can check out a travel website, www.yapta.com, that tracks a specific flight and notifies you about any updates.
What makes yapta.com different than other travel sites? Yapta allows you to track a specific flight, not just a route. We are all busy people and need to travel around our own schedules. Sign up on the website and get started easily.
It’s easy, once you decide on specific flight click on the Yapta logo. It will then track that flight and notify you about fair changes, time delays, refunds that can be available and so on. Go check it out.
John 775-882-4641 agents@nevada.org
Resident Agents of Nevada, Inc. www.nevada.org
JD on October 13th 2007 in travel, Technology, Women, Tips & Ideas, Entrepreneurs
You can find some great tips and ideas at http://www.ivillage.co.uk
Seems that tips to be successful extend beyond our boundaries here in the States and they are pretty universal. For instance here’s a synopsis of some of a british websites tips:
- Don’t work for less than you can afford to even to get the business but consider offering a discount if a client will give you a longer term contract.
- Try to find people who refer jobs and clients to you
- Surround yourself with supportive people and don’t be discouraged by anybody
- Be flexible in your thinking–change will help your company by successful
- Admit your mistakes, correct them and carry on
- Develop a good relationship with your local bank manager and creditors
- Be willing to get additional training in areas where you don’t have any expertise such as accounting and IT support
- Avoid Isolation and try to develop a network of entrepreneurs who exchange ideas
- Separate your work and personal life–set your work hours and try to stick to them. On your business answering system, let somebody know when they can expect a response if they leave a message.
- Plan some “thinking time” into every day to focus on what will help your business grow
Sandy 775 882-47641 agents@nevada.org
Resident Agents Of Nevada, Inc. http://www.nevada.org
Sandy on October 10th 2007 in Women, Technology, Tips & Ideas, Entrepreneurs, Corporate Credit Strategies, Establishing Credit, Entities
I’ve enjoyed reading some tips on a British site http://www.ivillage.co.uk
Here’s a brief overview of an article that addresses mistake that somebody with a home office can make–by knowing maybe you can avoid the same mistakes.
- Not bothering to do your homework about your business idea
- Failing to get the support of your family (boy this is a biggie!) There is no doubt that if you are working at home it will interfere with the family dynamics
- Having insufficient savings to bolster cash flow before the business gets going. You need all your energy to focus on the business without worrying about money
- Neglecting to write a mission statement. What makes your business unique.
- Thinking that it isn’t necessary to set a schedule. You need to set office hours and stick to them–this is so your clients know when to reach you and, as important, when the family knows you’ll have time for them.
- Not carving out a workspace exclusively for your business. Have a “real” office and do you work there–not at the dining room table!
- Being too timid about negotiating fees. Ask for the best deal. Every penny you save can be invested back into the business or push to the bottom line
- Getting backlogged on bookeeping. Make sure to send out invoices in a timely fashion and keep good track of expenses. Invest in Quicken or another bookkeeping software program and learn to use it or find somebody that will do it for you.
- Believing working from home means having it all–it’s always hard work to make a new venture successful.
Sandy, 775 882-4641, agents@nevada.org
Resident Agents Of Nevada, Inc. http://www.nevada.org
Sandy on October 5th 2007 in Women, Tips & Ideas, Entrepreneurs, Entities
A frequent traveling (frugal) friend sent me an email and suggested that I subscribe to Airfare Watchdog. At the time I thought, yeah another site with the same ole stuff…not true. On http://www.airfarewatchdog.com there are many different things than you’ll find on “purchase” sites. For instance, they have a great blog, a newsletter and they include airlines that the others omit, such as Southwest, Skybus, Allegiant and Jet Blue. Here’s a little trivia for you–the reason why nobody else includes Southwest is that Southwest does not allow “automated” checking of their fares and sales. It must be done by a person and Airfare Watchdog must have somebody besides “dogs” working to find the best fares. They also include unpublished sales–don’t know how they do that one.
I subscribed an weekly I get an email with fares from the cities that I asked them to monitor for me. Each time I go to their site, I learn something new–today they talked about hidden obnoxious airline fees. They missed one that I found the other day that really irritated me on two fronts.
First, my husband and I needed to fly one way to Boston. I tried MBNA points (since we have over 700,000)…that program stinks. They wanted to charge a surcharge of over $400 because I didn’t want to fly the red eye flight they recommend–cheapskates! Then I thought, well, American Express points are pretty bad too….but we might as well spend them vs hard earned cash. I used the Amex but those clowns required 92,000 points (yes, I’m serious for a two one way flights from Reno to Boston)!!! Then, they couldn’t get me any reasonable seating. So, I thought–so what, I’m an Advantage Platinum Member, first I’ll try the web and then I’ll call the Platinum desk. The web wouldn’t let me book the exit row seats (said it had a “technical” problem). When I called the Platinum desk–they wanted to charge $5 for each seat assignment!!! Unbelievable!!! I talked them out of it–but it was pretty greedy…because the ticket wasn’t booked through them.
Anybody else having these kinds of problems. I think we’ve found a good “travel point” card that I’ll discuss in another blog.
Sandy, agents@nevada.org, 775 882-4641
Resident Agents of Nevada, Inc. http://www.nevada.org
Sandy on October 1st 2007 in travel, Women, Tips & Ideas, Entrepreneurs, dog
I seem to be on a travel/food kick…not bad. Anyway, a prior blog talked about making reservations worldwide. Well, how about selecting where you want to eat. The site to go to is http://www.zagat.com.
It has ratings and reviews available for over 30,000 restaurants, nightlife, hotels and attractions. You can join for free and look at menus and member reviews for different cities which will give you some perspective on how it works.
Sandy 775 882-4641, agents@nevada.org
Resident Agents Of Nevada, Inc. http://www.nevada.org
The annual fee is join is $24. It is well worth the investments since you get the full reviews, you can do a review yourself (good or bad) and you get invitations to take different surveys that include freebies. For instance, I did a restaurant survey for San Francisco and I’ll receive a free copy of the Zagat pocket guide for SFO. Not bad!
I’ve found it especially helpful when traveling in Europe. And not too long ago I was on the Intracoastal Waterway on a boat and we used it when we arrived at a marina in an unfamiliar town. Great stuff.
Sandy on September 26th 2007 in travel, Women, Tips & Ideas, Entrepreneurs
Last time I was in Dallas, my friends and I wanted to make a reservation for dinner at a hot new restaurant for a Monday evening. It was Sunday and the restaurant was closed–so I started surfing for a solution and, wonder of wonders–I discovered a great site called http://www.opentable.com
I was able to register and look at all of the 199 great restaurants in the Dallas area. You can search by cuisine and neighborhood. I was given time options for our Monday reservations, a look at the menu and an immediate confirmation. There was even a cute invitation that I could send to my buddies. Once you join Open Table, you receive a minimum of 100 points (for specially featured restaurants up to 1,000 points). The once you get 2,000 points, you’ll receive a $20 gift dining gift certificate.
Open table has over 7,000 restaurants and has accommodated over 45 Million diners worldwide. I’m not sure why it took me so long to find them but I’m sure glad that I did.
Go to their website http://www.opentable.com and see if the cities where you dine are online–bet they are! There’s no charge to use the system. You’ll love it.
Sandy 775 882-4641 agents@nevada.org
Resident Agents of Nevada, Inc. http://www.nevada.org
Sandy on September 26th 2007 in credit cards, travel, Women, Tips & Ideas, Entrepreneurs
All of us are busy and get more email than we know how to deal with. Email is an amazing tool but, if you think about it, it can be pretty impersonal and it can lead to unintended miscommunication. Have you ever noticed that people say things in an email that they might never say in face-to-face communication?
HP has some helpful articles about working with technology. The one specific to email etiquette is excellent http://www.hp.com/sbso/advice/tech_tips.html
Remember, even if you have no intent to be rude, patronizing or insultiing–you can come across that way in an email.
The most important thing in the whole article is always think twice before hitting that send button.
Also you need to think about who is on the “send to” list–maybe not everybody needs or wants to read your email. If you draft the email first, then you can think about these things.
Just, please, think before you SEND
Sandy, 775 882-4641, agents@nevada.org
Resident Agents of Nevada, Inc, http://www.nevada.org
Sandy on September 24th 2007 in Technology, Women, Tips & Ideas, Entrepreneurs
So, you’ve decided to set up a home based business (even if it is part time). Without the right kind of planning and organization, your home office has the potential to do more to hinder productivity than enhance it. And, that’s the last thing you need in a brand new business. One of my favorite websites has several “60 Second Guides” which I’m going to highlight in several blogs. Take a look for yourself for the home office guide: http://www.score.org/60_guide_setting_up_home_office.html.
Highlights include what to consider when selecting the right spot for your office taking into account lighting, storage options, size, and “inspiration” vs “distraction. You’ll also want to make sure that you have plenty of electrical outlets for your equipment and connections for phone/fax and internet access. Then, what kind of furniture? You’ll also need file cabinets and places for equipment. Best thing to do is to do a layout to make sure that everything you want in the office will fit.
And, since you’ll probably want to write off the expenses, remember that the IRS will only allow you to deduct expenses related only to that part of your home that is used exclusively and regularly for business. It you do it correctly, you may be able to deduct a portion of your mortage/rent, utilities and furnishings for areas where you conduct business. Consult the IRS website for details or speak with your CPA.
This is good stuff. Take a look at the full article.
Sandy, 775 882-4641, agents@nevada.org
Resident Agents of Nevada, Inc. http://www.nevada.org
Sandy on September 24th 2007 in Technology, Women, Tips & Ideas, Entrepreneurs, Entities
The last few posts have been about travel–funny how when you’re looking around on the web that you just keep finding things. I found a website that lets you keep track of your lease miles and helps you to avoid costly end-of-lease penalties.
You enter some simple information like the original lease term, months remaining and the annual mileage allowance and then the calculator predicts any excess miles and the associated end-of-lease charges .
It helps you plan for the additional payments if you are really going to have to pay or warns you how much you’ll have to conserve miles by perhaps driving a family vehicle.
Great simple and easy to use tool is at http://www.leaseguide.com
Sandy, agents@nevada.org 775 882-4641
Resident Agents Of Nevada, Inc. http://www.nevada.org
JD on September 24th 2007 in Technology, travel, Women, Tips & Ideas, Entrepreneurs, Entities
Since I seem to be in the mood to focus on travel tips, I just located a website that compares the travel websites and describes which one has strengths in particular areas. It looks at many sites I haven’t heard of and some of the standards such as Expedia, Travelocity, Priceline and my favorite Kayak.
For instance, did you know that each site has particular strengths such as:
*Travel Search
*Discount Fares
*International Travel
*Luxury Hotels
*Travel Packages
There are some other ones too such as http://farecompare.com, http://www.forecast.com and http://www.sidestep.com which supposedly has the richest content.
Take a look at the site http://www.consumersearch.com I think it will help you find the site that fits your situation. Are there other sites that I’m missing out on here…I love to travel and hate paying more than I need to for an airline seat or rental car. I don’t mind spending a little more for hotel…but if there are deals for classy hotels–count me in.
Sandy Miller, agents@nevada.org, 775 882-4641
Resident Agents Of Nevada, Inc. http://www.nevada.org
Sandy on September 23rd 2007 in travel, Technology, Women, Tips & Ideas, Entrepreneurs
If you are an aviation road hero, here’s a site for you. You earn all those airline miles cramped in the middle of a couple of chubby little old ladies from Peoria who’ve never flow before or in front of a screaming baby. You’ve given up personal time to get to the airport long before dawn and arrive home in rotten weather long after your dinner date on a Friday night. Well, for heavens sake, don’t waste any of the miles you’ve earned along the way.
For $14.95 per year (less than 3 beers in coach) you can subscribe to an online service that tracks all of your frequent flyer miles, alerts you on promotions and miles that are about to expire, lets you know when you’ve achieved an award level and also tracks where you are on the Elite programs (like Platinum) that will get you out of coach purgatory and up to comfortable first class. And, if you don’t sign on to check your statement, the service will send you pertinent emails.
And, all of the service can be managed from anywhere in the world with standard Web browsing software.
Now you can use those hard earned miles for some fun travel for yourself. Take a look at http://www.mileagemanager.com
Sandy, 775 882-4641, agents@nevada.org
Resident Agents Of Nevada, Inc., http://www.nevada.org
Sandy on September 23rd 2007 in Technology, travel, Women, Tips & Ideas, Entrepreneurs, Entities
We subscribe to a publication call Tax Hotline. In the October issue there is a small blurb that warns sole proprietors that they may be facing more scrutiny from the IRS. The basis of this is that the GAO (Government Accountability Office) recently released a report showing that 61% of self-employed individuals underreport their income.
The reports states that about half of the understatements were under $1000; however, 10% underreported more than $6,200 per year. The GAO is proposing several strategies which may include:
* having credit card companies report merchant transactions to the IRS
* having consumers report payments to contractors (may of who are sole proprietors)
The suggestions are currently in the Senate Finance committee. Let’s hope they are as inefficient at this legislation as they seem to be with everything else. Yes, I’m one of those who is disgruntled with Congress’ lack of action on key American issues.
Anyway, warnings like this are just another reason that sole proprietors should set up a corporation or LLC and Nevada is the most popular state to do that. Call our company if you’re concerned that you’ll be under scrutiny by the IRS because you’re a sole proprietor.
Sandy, agents@nevada.org, 775 882-4641
Resident Agents Of Nevada, Inc., Nevada Corporation Setup
JD on September 23rd 2007 in Women, Tips & Ideas, Entrepreneurs, Independent Contrators, Entities
I just read an article by Martin S. Kaplan a CPA. His website is http://www.irsmaven.com
In the article he describes that the IRS will subsidize the startup of your business and you can get deductions and legal tax-sheltered breaks that are not available any other way. The one key is that profit needs to be your motive–whether you achieve it or not.
He gives some tips of things that the IRS will look for if you take deductions such as:
* Obtain local business licenses
* Keep separate bank accounts separate from personal accounts
* Keep business books and accounting records (use something like Quicken)
* Have a plan that explains how you intend to make a profit
* Consult with experts in your field in order to become successful
The one thing he doesn’t mention is that you should form an entity. Personally, from our experiences with entrepreneurs that is the most important thing to do. How do you keep everything separate if it isn’t legally formed and has a name??? I think he missed a very important point.
He then goes on to describe ideas for things that are deductible. Personally, I think you should form the have the great idea to start a company, form and entity and then find yourself a great CPA who can give you specific ideas of write-offs for your particular situation. You should call our company to set up a Nevada entity. You’ll get great advice and service.
Anybody taken advantage of tax breaks for a start up? I’d love to hear some specifics.
Sandy, agents@nevada.org, 775 882-4641
Resident Agents of Nevada, Inc. http://www.nevada.org
JD on September 22nd 2007 in Tips & Ideas, Entrepreneurs, Entities
For many entrepreneurs and small businesses there are times when you or employees need to travel to see clients or conduct all kinds of business. Who wants to pay any more than necessary for gasoline.
Now there’s a really neat tool to find out the cheapest gas prices in the area where you are traveling. Just go to http://www.gasbuddy.com. It will ask you to enter the zipcode where you are located. Then it gives you the price, location (find map) and the time the price was reported. You can also select a general area such as Carson City and it will list the least expensive prices in the Carson City vicinity. Usually you’ll want to do this before you leave home. But, if you’re stuck, you can get the information on your mobile via email or even send an SMS and they’ll send you a message back with the information.
Isn’t technology just wonderful! The data comes from 179 gas price information sites and, if you become a member, you can report prices too.
Sandy, 775 882-4641, agents@nevada.org
Resident Agents Of Nevada, Inc. LLC Formation
JD on September 20th 2007 in Technology, travel, Women, Tips & Ideas, Entrepreneurs, Independent Contrators
While my owner normally focuses on tips and ideas for entrepreneurs, she decided to let me write this post for “MY” blog.
I just can’t help telling you about the cutest essay in the September issue of Oprah Magazine. It is an excerpt from a book called The Braindead Magaphone: Essays by George Saunders.
The essay is written by one of my friends “Biscuit” (another chocolate lab) who explains in hysterical detail how disgusted he is with his owner’s late night “perschnockers” dancing in the buff to the tune Purple Rain! Biscuit describes what he might be pushed to do should the behavior continue. (you gotta read this…it is so funny). I’ve practiced chewing on a few sofa legs myself, cell phones, drywall and my favorite…..comforters.
He also complains about the “damned slippery” cheap tiles that his Master and Mistress have installed cause his paws to slip out from under him (WHAMMO) all asses-and-elbows puncturing the silence of the night as his furry little body hits the floor. Also happened to me until we had a water leak and we got to change the tile in the den–nobody knew that I’m the one who chewed through the pipe.
If you get a chance–give it a read….and, you guys & gals…beware. Your dog is watching all of your antics. Think about viewing life from your pups perspective.
Now I’m supposed to include some kind of tip. Guess it is: stop and get a good laugh every once and awhile no matter how hard you work…give the dog a pat and lots of cookies.
Tootsie (3 year old chocolate lab) 775 882-4641, agents@nevada.org
Resident Agents of Nevada, Inc. http:www.nevada.org
JD on September 19th 2007 in Tips & Ideas, Entrepreneurs, dog
Last week while surfing I discovered two great sites that should be helpful for on-going business issues. The first is Counselors To Small Business http://www.score.org. The other link is http://www.allbusiness.com.
For instance All Business provides advice from business bloggers. They had a great Checklist For Starting A Business. It identifies seven key components which include:
* Identifying your reasons for starting a business
* Self Analysis
* Personal Skills and Experience
* Finding A Niche
* Market Analysis
* Planning Your Startup
* Finances
Score has all kinds of tips and they’ll even let you ask your specific questions online.
Take a look, I think you’ll find lots of good stuff.
Sandy, 775 882-4641 agents@nevada.org
Resident Agents of Nevada, Inc. http://www.nevada.org
JD on September 17th 2007 in Women, Tips & Ideas, Entrepreneurs, Entities
Incorporating or forming an LLC is a fast, affordable and easy process. It benefits the business owner by protecting personal assets from the risks and debts of the business. Here are eight easy things business owners can do to make incorporating a easy:
Select Your Company Name
Your company name can identify the type of products/services your business provides, or it can simply tout the name of the founder. The two main requirements for a company name are: no other entity in the same state may have the same or similar name; the name must include an ending like company, inc. or llc. Words like “bank’, “trust” or “education” “engineering” may not be used without approval from the appropriate state agency.
Select Your Business Structure
A “C” corporation, is the most common corporate structure. It may have an unlimited number of stockholders. An LLC is not a corporation, but it offers many of the same advantages, combining the limited liability protection of a corporation with the “pass through”" taxation of a sole proprietorship or partnership.
Select Your State
Many business owners incorporate or form an LLC in the state where they are planning to operate because it is often least complicated and most cost effective. However, Nevada holds the greatest appeal for new companies because of its low incorporation fees, no annual franchise taxes, and lack of state income tax for corporations.
Select Your Management Team
Naming initial directors for your corporation is straightforward. Directors are typically the key players or owners in the business. In most states, only one director is required and you may simply name yourself. In an LLC, managers or members are selected.
Select Your Number of Stock Shares and Par Value
Stock represents ownership in a corporation. Par value is the minimum selling price for each share of stock. Many states allow you to elect a $0 par value, to give you the most flexibility. LLC’s do not issue stock–they issue certificates that reflect ownership by percentage or units.
Order A Corporate Kit When You Order Your Company
A Corporate Kit will help you organize and save your important company documents. They often include a corporate seal, stock certificates, stock transfer ledger, and sample forms for bylaws and minutes.
Choose A Company To File Your Paperwork & Designate a Registered Agent
The Registered Agent serves a critical purpose and is an important part of protecting your corporate status. Select a highly reliable company to serve in this role. Make sure to call and speak with the company. Get to know your resident agent–they should be willing to assist you and answer questions.
Our company Resident Agents of Nevada will help you through setting up and running your entity. Call us or visit our website.
Sandy, 775 882-4641, agents@nevada.org
Sandy on September 14th 2007 in Tips & Ideas, Entrepreneurs, Entities, Introduction
In order to form an entity on the state level, most jurisdictions require corporations or Limited Liability Companies to designate a registered (resident) agent to receive documentation on behalf of the company. A registered agent is an individual or entity upon whom documents relating to the corporation may be served. In many States their offices need to open during normal business hours to receive process of service.
To remain in compliance with state law, a Registered Agent must be designated to receive correspondence on behalf of the company. A Registered Agent will typically receive business and legal documents from county, state, and U.S. agencies on behalf of the corporation and/or LLC. These documents include such things as notice of litigation (service of process), franchise tax forms and annual report forms.
The Registered Agent must have a physical (street) address in the state in which the company is formed. This means no P.O. Boxes. The Registered Agent’s name and address are listed on the formation documents of the business and that information is kept on record as the official contact for the company. In fact, Registered Agent information is considered a matter of public record.
The failure, to register and designate a registered agent may hinder the company’s ability to
* Legally enter into contracts and gain access to the state court system
* Subject the company to monetary, civil, and possibly criminal sanctions.
* Failure to maintain a registered agent may cause a company to fall out of “good standing” with the state or may cause a jurisdiction to revoke a buiness’ corporate or LLC legal status
An officer or owner of the business can serve as a Registered Agent; however, many entities find it easier and more reliable to select a third-party Registered Agent Service skilled in providing such services. Even if you are located in the state in which you are incorporated, there are many benefits to using a Registered Agent Service. One such benefit is that the Registered Agent Service’s information is listed on the formation documents and becomes a matter of public concern. In essence, the Registered Agent Service can put a layer of privacy between your business and the public and may reduce the amount of solicitations your company receives.
If a document must be served on the company, it will be served to the independent third party, as opposed to serving you with legal and/or personal business documents in the presence of customers, clients, vendors, employees, and/or neighbors.
Another benefit of selecting a Registered Agent Service is that you do not have to be concerned with being continuously available to accept important business and tax documents or dealing with difficult and often annoying process servers. This will be handled by the Registered Agent Service on your behalf.
It is far more safe and efficient to select a reliable third party that has experience as a Registered Agent. It is important that businesses select a highly reliable company that has been approved by the appropriate state agency to serve as a Registered Agent. Using a Registered Agent Service provides business owners with timely notification that they have been served.
Sandy, 775 882-4641, agents@nevada.org
Resident Agents Of Nevada, Inc., http://www.nevada.org
agents on September 13th 2007 in Entrepreneurs, Asset Protection, Entities
I found a great website that is a resource for businesses looking into launching ecommerce enterprises or venturing into online sales. It looks like it would be helpful for first time entrepreneurs or businesses that are expanding their horizons to selling on the web.
The site http://www.safeselling.org is organized around commonly asked questions that come up during the development, launch and operation of an online store. Then there are detailed answers to the questions that might interest you. There are also several links to the American Bar Association, government and other information sites that provide helpful guidance for selling online.
The site is and it was created by the Cyberspace Law Committee of the American Bar Association’s Section of Business Law. It is a follow-on to the consumer protection site
Just because you sell on the webs doesn’t mean that you don’t need to have disclaimers and agreements that ensure that you and your company are protected. Take a look today.
Sandy, 775 882-4641, agents@nevada.org
Resident Agents of Nevada, Inc., http://www.nevada.org
Sandy on September 6th 2007 in Technology, Tips & Ideas, Entrepreneurs
As I wrote about tips to avoid small disasters, I couldn’t help thinking mid September 1996. My husband and I lived in St. Thomas and sat in terror for seven hours while Hurricane Marilyn destroyed the house around us. We thought we were prepared but I can assume you that we weren’t. We had trash bags around computers–how very silly in hindsight. Then, we didn’t have any power until around Christmas. When you’re on an Island you don’t have the option to evacuate. Those of you on the Mainland (which is now where I spend all of hurricane season) who can evacuate might want to consider taking the following items with you from your office:
* Copies of insurance policies and contact information for your agent and carrier
* A binder or album with all of your application software CDs including installation codes
* Photographs showing your office furniture and equipment (see that digital camera might be a business write-off!)
* Employee and client contact information including telephone, address and email address
* User names and passwords to access your network server, computers, web site, email, webmail etc.
* Payroll and bank account information
* A handful of blank checks for each of the companies bank accounts
* The latest data backup
This is probably only the beginning of what you’ll really need if you’re office is destroyed but it’s a start. If anybody would like to add to the list, please do so.
Sandy, 775 882-4641, agents@nevada.org
Resident Agents Of Nevada, Inc., http://www.nevada.org
Sandy on September 4th 2007 in Technology, Tips & Ideas
As I mentioned before, one key component of a backup plan is to have remote off-site storage of backed-up data. The easier way to do this is with an online backup service. While these services used to be expensive, they are pretty reasonable now…in fact, there is one that is even free for up to 2 GB’s of data. That can be enough to back up most data and word processing on a system–scanned documents, photos or video files take up much more space.
The free service is called Mozy http://www.mozy.com They allow you to download their software at no charge and set up scheduled backups of the files you select. If you need more space, the charge is $19.95 per year for 5 GB’s.
If you have a major disaster like Hurricane Katrina or a fire, this will be so important to your business. For now, the only way to safeguard your data in the case of major disaster is secure on-line backup.
Sandy, 775 882-4641, agents@nevada.org
Resident Agents Of Nevada, Inc., http://www.nevada.org
Sandy on August 31st 2007 in Technology, Tips & Ideas, Entrepreneurs
You know, you don’t have to think very hard to look around an see all kinds of disasters that occur throughout the US and the world. Seems there just isn’t a “safe” place to operate where you don’t have to be prepared for a disaster–no matter how small. Think about it fires are burning in the West, we’ve had major flooding in the center of this US this year, there are earthquakes, tornadoes and hurricanes. So, you should take some preparations to make sure you can operate your business after a disaster. I read an article the other day and these are some ideas that you may want to consider.
1. Make sure all your key computers and equipment are on warranty or have a service contract.
2. Have antivirus, antispyware and a firewall for your equipment or you could have a disaster of your own without Mother Nature.
3. Use high quality surge supressors and for servers and other expensive computer equipment use a WPS (uninterruptable power supply) to avoid damage from power spikes and surges.
4. Back up your system, Back up your system, Back up your system (GET IT!!!) Consider using external hard drives and online backup services. Swap out the backup daily and get it offsite for maximum protection. If your a home based business, one of the online backup providers would be a perfect solution for you. Take a look at http://wwww.backupmybusiness.com
5. Keep installation CD/DVD’s in one place and keep the keys and license codes with the software. Keep it organized so that you don’t have to dig for it when you need it.
These ideas focus on the technology side of the business. It should also get you thinking about your accounting systems and other things in your office that you couldn’t do without. Take a few minutes, make a plan and implement it.
Sandy, 775 882-4641, agents@nevada.org
Resident Agents Of Nevada, http://www.nevada.org
Sandy on August 31st 2007 in Technology, Tips & Ideas
Take a look at http:www.endicia.com It’s a neat service that lets you printing postage and address labels and send to domestic & international destinations. All you need is a computer, printer and and internet connection.
And, for those of you who charge a shipping and handling fee they have a feature called “stealth postage” and, while the post office can scan to see that there is sufficient postage, the client does not see the actual shipping amount. You can get delivery confirmations by email and get parcel insurance. It also has some reporting capabilities. And, if you’d like you can add logos and messages. It looks pretty slick We’ve found our Pitney Bowes system to be a real time saver but it’s really expensive.
See what you think. Give it a try. And, if anybody is already using endicia–let us know what you think of it.
Sandy Miller, 775 882-4641, agents@nevada.org
Resident Agents of Nevada, http://www.nevada.org
Sandy on August 31st 2007 in Technology, Tips & Ideas
Guilty! Guilty! Guilty! Drown Him!
p.s. can you name all the dogs…we have Goofy, Astro, Underdog, Snoopy, Scooby Doo
Can’t figure out who the rest are. Can you?
Sandy
agents on August 31st 2007 in dog
There a great article in the September 4, 2007 PC Magazine about eleven other ways to search the web besides Google. There’s a good reason why they are the search engine of choice. It’s worth a complete reading if it’s something you’re interested in. Also, if you have other search engines that they didn’t like that you like–let me know with a comment.
1. Technorati (www.technorati.com)–lets you include blogs in your Web searches
2. ChaCha (www.chacha.com)–let’s you chat with a real person who takes your query and returns related results based upon what you asked for. All this and “it’s free”
3. Rollyo (www.rollyo.com)–this stands for Roll Your Own Search Engine and it lets you do that. You do general searches and then you have something called Searchroll that looks for specifics. The example given in the article was using Searchroll for music blogs.
4. Kosmix (www.kosmix.com)–this engine search by category: Health, Autos, Travel, Finance, Politics and Video Games.
5. Ask.com (www.ask.com)–this site uses “subject-specific popularity” instead of ordering the results by popularity. It looks more to the experts on the subjects. I’ve heard lots of entrepreneurs use this.
6. Clusty (www.clusty.com)–this site aggregates results from several search engines (not Google) and arranges them in clusters (hence the name Clusty) to help you refine the search.
7. StumbleUpon (www.stumbleupon.com) this one definitely wins the neat name award! It lets you rate pages and sites that you come across with a thumbs up/thumbs down in the toolbar (cool!!). And you can add other people to your friends list too.
8. Draze MetaSearch (www.draze.com) this site lets you collect search results quickly from Google, MSN and Yahoo.
9. netTrekker (www.nettrekker.com) this site is supposedly good for kids since all of the results are handpicked by educators so it’s should be safer for children to use. There is a charge of $4.95 per month.
10. Aftervote (www.aftervote.com) this search site aggregates results from the “Big Three” (Google, Yahoo and MSN) and lets the user “vote” results up or down.
11. Can’t Find On Google (www.cantfindongoogle.com) this is more like a message board than a search engine. People post what they can’t find and wait for somebody to answer that they have an idea.
Speaking of ideas…tell me what search engines you like to use and why. I’m ready to try something other than Google…right now I’m headed for Stumpleupon to check it out.
Sandy, Resident Agents Of Nevada, 775 882-4641, agents@nevada.org
http://www.nevada.org
Sandy on August 29th 2007 in Technology, Tips & Ideas
Bark If you Want Vick in Jail!!!
Tootsie, Buddy & Toby, Our Corporate Retrievers
Sandy on August 28th 2007 in dog
There are two great services to help entrepreneurs who are not ready to make investments in extra equipment for postage or an expensive fax machine.
The first, I’ve used for many years since it’s very convenient when I travel. Take a look at http://www.efax.com. In essence, their service let’s you get a phone number and then receive faxes on your email…the sender never knows you aren’t using a traditional fax machine. If you just need to receive faxes, the service is free. If you’d like to send and receive, then they have a program for $16.95 per month. Their newest fully featured program also sends voicemails to your email for $19.95 per month. They’ve been around for awhile and their program works. Take a look for yourself.
Anybody tried any other programs for sending and receiving faxes? I’ve heard there are some but I’ve never used them.
Sandy, Resident Agents Of Nevada, 775 882-4641, agents@nevada.org
http://www.nevada.org
Sandy on August 28th 2007 in Tips & Ideas
I recently read an article in Business Week SmallBiz magazine about choosing the correct entity. This is a common question we get from clients asking for advice. And the answer is…it depends. Not what you want to hear, right. The article will help you understand how much or how little protection you might need.
Virinia Munger Kahn, author of “How you incorporate matters. Make sure you choose a structure that gives you room to grow” provides good advise and examples on which entity might be right for you. She starts out with the most simple, yet with the least protection, Sole Proprietorship and plunges through to the age old C Corporation. Kahn’s article will provide a good starting point for information that can lead to answering, “Which entity is for me?”
You can further your information by reading the article in entirety at http://www.businessweek.com/magazine/content/07_36/b4048436.htm.
Nevada is the best state to incorporate and we can assist you in the formation of a Nevada entity.
Which entity worked for you? Did you find this article helpful? What’s your story?
Please respond if you have any further questions or comments.
John – Resident Agents of Nevada, Inc. 775-882-4641 http://www.nevada.org
JD on August 24th 2007 in Entities
I’ll bet most people running a small business from their den have never dreamed that they need special insurance. After all, it isn’t a full time business and you’re just selling items on EBay.
Did you think that anything that happens is covered by your Homeowners’s Policy? Well you should take a look at http://www.secretsofowningyourownbusiness.com–this guy really knows his stuff. He talks about a home burgulary where they take TV’s, jewelry and, yes, your business computer. Guess what–it’s not covered by your basic homeowner policy unless you’ve made provisions to cover it.
Then you consider property and liability issues and it gets even more complicated. Business Insurance isn’t all that expensive. He says you can get a policy for around $250.
Read this guys whole article “Do You Need Insurance For Your Home Business”. It is definitely worth your time. His name is George “Corky” Devendorf and he supposedly had a thirty year insurance career and shares his tips.
Sandy, Resident Agents Of Nevada, 775 882-4641, agents@nevada.org
http://www.nevada.org
Sandy on August 23rd 2007 in Tips & Ideas
Our company, Resident Agents Of Nevada, sets up hundreds of companies each year. One of the things that I tell our clients (most of whom are small business entrepreneurs) is that after an entity is set up–you need to go find a good CPA. This is not something to put on the back burner–it’s really important. With an entity, you have many tax advantages–but you have to do it the right way and….that’ begins with good advice from an accounting professional. Tax planning is done in advance–not looking backwards.
Yesterday, I found an article in Small Business Informer http://www.sbinformer.com entitled 7 Tips For Finding A Good CPA. It was written by Mani Malarvannan who is the founder of Cybelink, a company that specializes in small business financial and accounting outsourcing for activities such as bookkeeping, tax, accounts payable, accounts receivable. Mani’s website is http://www.Cybelink.com
In his article he talks about CPA qualifications to look for, referrals, expectations and taking your time to find the right person.
He has some great points. The article is worth a look. Let me know your experiences with finding a CPA. If you haven’t had such good luck, we’d like to know about that too.
Sandy, Resident Agents of Nevada Inc, (775) 882-4641, agents@nevada.org
http://www.nevada.org
Sandy on August 22nd 2007 in Tips & Ideas, Establishing Credit
I was flipping through FORTUNE SMALL BUSINESS today and saw an ad for a truly neat system to handle phone calls. The hype is that you can make a big-business impression with a virtual phone system. You chose a single phone number that answers your calls 24/7 and routes them to three or more destination numbers. It even goes so far as to call different phone numbers to reach you and then if it doesn’t catch up with you…it converts it to an email. You can have your operation look like you have a sales office, service center etc. etc. It appears that there’s nothing to install and it’s quick to set up.
If you go to http://www.eVoiceReceptionist.com/fsb you can get a free trial and also see a demo of the system.
Give it a try and let me know what you think. I’m trying to figure out whether hints or tips like this are helpful to entrepreneurs.
Sandy, Resident Agents of Nevada, 775 882-4641, agents@nevada.org
http://www.nevada.org
Sandy on August 21st 2007 in Tips & Ideas
It’s not hard to figure out that DBA stands for “Doing Business As”. The State of California is DBA CRAZY….not to mention lots of other gotchas that take your hard earned bucks. That’s not to say that there are not some very legitimate reasons to have a DBA and have it filed with the appropriate government department (here in Nevada that is the local county where you do business).
You may have also heard DBAs called Fictitious Business Names or Assumed names…I think that sounds suspect and even a little criminal.
The real scoop is that you need to file a DBA if you are conducting business in a name different from your legal entity name. That lets you do things like make bank deposits if a check is made out to ABC and your actual entity name is Abracadabra Banana Corporation! By the way, the bank will need a copy of the DBA before they’ll let you deposit checks into Abracadabra’s account! You’ll probably also want to have marketing and advertising materials with the abbreviated name.
The worst reason to try to have a DBA is to operate a totally different business. That’s just stupid and can get you into all kinds of problems. Imagine that you’re operating a very successful company and you decide to have a DBA for that entity. You have terrible luck with the DBA activities and you just bet the whole entity! Usually the only reason why anybody would try to do that is just to save a few State fees and avoid filing multiple tax returns. Just don’t do it.
If anybody out there has multiple DBAs and has had success with operating them under one formal entity, I’d sure like to know. Some people even go so far as to call them “divisions”–as if they’re pretending to be big shots like General Motors! Dumb Idea!
Sandy, Resident Agents of Nevada, 775 882-4641, agents@nevada.org
http://www.nevada.org
Sandy on August 15th 2007 in Entities