Things to Consider When Getting a Business Loan

On October 23, 2009

Things to Consider When Getting a Business Loan

There are three main components banks review when underwriting your loan application. The knowledge and understanding of these issues can greatly increase your chance of success while also save you the time of applying for a loan program you may not qualify for due to your current situation.


On October 23, 2009

Microsoft Stock Hits 52-Week High

Microsoft said Friday its net income fell 18 percent in the last quarter, largely because it deferred revenue when it let summertime PC buyers get free upgrades to Windows 7, which was released this week. Investors looked past that accounting decision, noting that if it had counted its deferred Windows revenue, Microsoft's earnings would have increased 8 percent from last year.
On October 23, 2009

Amazon Amps E-Reader Rivalry With Free Kindle for PC

Amazon.com is trying to get more people to buy the electronic books that are compatible with its Kindle gadget by offering free software for people to read them on a computer. The Seattle-based online retailer said Thursday that it will release an application called "Kindle for PC" in November.
On October 23, 2009

PepsiCo Kills ‘Amp Up Before You Score’ iPhone App

After a week of controversy, PepsiCo has decided to do away with an iPhone application made by Amp energy drink. The application, called "Amp Up Before You Score" let players choose pick-up lines to use on a bunch of different types of women -- i.e. "sorority girl," "nerd," "treehugger," etc. -- and then keep track of and brag about their successful conquests. It was attacked from many corners as sexist and crude. The most interesting thing about the story is the role played by Twitter and the simple tag "#pepsifail." I'd never even heard of Amp before this controversy, and the fact that a random energy drink company was getting flak for a sexist iPhone app would probably not have...
On October 23, 2009

Will Congress Simplify the Home Office Deduction?

One of the most baffling tax tasks many entrepreneurs face is claiming the home-office deduction. It involves calculating how much of the residence is used for exclusively for business, how much of the year it is used, and then deducting a percentage of expenses based on that. The instructions are 35 pages long. Lots of self-employed home-based workers who qualify don’t claim home-office deductions because the process is so complicated. Many also consider it an audit flag because of the potential for people falsely claiming home offices (though tax pros say that’s not the case).

Fixing this would save millions of home-based business owners time and money. At least six bills pending in Congress would simplify this. They would give home-based business owners the option to take a standard home office deduction of $1,500 or some figure to be set by the Treasury. (If taxpayers think they deserve a bigger deduction, they’d still have the option of calculating it the old way.)

Lawmakers, both Republicans and Democrats, introduced four similar bills last year, but they went nowhere. Like the tax self-employed workers pay on health care, this is an issue that affects a lot of small business owners with relatively little collective lobbying power.

The change is at the top of the tax reform recommendations recently published by the SBA's Office of Advocacy. The latest efforts to simplify the home office deduction were introduced in the last month, accompanied by press releases from lawmakers. The change would make tax time easier for the growing number of people working out of their homes, particularly many who have lost their jobs in this recession. Let's see if Congress follows through.

On October 23, 2009

NASE Gets In Touch With The President

In last night's episode of "30 Rock," Will Arnett's character revealed that he'd gained the ear of President Obama by becoming a sort of gal pal to Sasha and Malia.  But in real life, it's rather harder to get an audience with our nation's leader, and so you may be surprised (and glad) to hear that the National Association for the Self-Employed was able to pass along a few words.

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On October 23, 2009

NYT’s “Ethicist” Says Photoshopped Ralph Lauren Ads Are False Advertising, Should Carry Warnings

Randy Cohen, who writes "The Ethicist" column in The New York Times, is to East Coast liberals what Judge Judy is to the rest of America: You ask him to solve an argument, and he solves it. Now he's come out against Ralph Lauren and its bobble-head doll ads, and in favor of the French/U.K. Liberal Democratic Party idea of enforcing warning labels on fashion ads that have been too heavily edited in PhotoShop. He calls it "false advertising."
On October 23, 2009

Three Simple Rules for Productive Meetings

Most business meetings need to accomplish three things: Communicate, Discuss, Decide. So why oh why are good meetings so rare? Let this simple filter get you back on track.
On October 23, 2009

Business Brief: Taking Clients When You Leave

Nick Hine, partner at law firm Thomas Eggar, responds to your employment law questions: I have been offered a job by a competitor of my current employer who essentially wants me to bring as many clients as I can with me to this new role. There are some restrictions against me doing this in my contract but are they worth the paper they are written on?  Could they prevent me from doing my new job at the competitor company? -- name witheld Many contracts contain what we lawyers call "restrictive covenants".  They are clauses in an employment contract which continue after the termination of the employment relationship. The general principle is that an employee is free to work for whoever he/she chooses. However, a...
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