Small Business Tax Breaks and Credits in 2012

June 1st, 2012

American entrepreneurs and small business owners continue to grow their businesses and create jobs due to an unprecedented level of tax breaks that have been signed into law over the past several years. This includes billions of dollars in US tax relief that have been signed into laws such as the US Recovery Act, the Small Business Jobs Act, the HIRE Act, the Affordable Health Care Act, and the Tax Relief and Job Creation Act.

President Obama has recently proposed a small business tax credit tied to hiring new employees. Under Obama’s proposal, you would receive a 10% tax credit for small businesses that hire or give raises in 2012. For example, a small business that increased its payroll by $5 million would see a $500,000 income tax credit.

According to the White House, the measure would address the need to invest in small businesses and jumpstart new hiring and entrepreneurship. The tax break would be limited to $500,000 to make it more valuable to small business.  Unlike the GOP bill that would allow small businesses with fewer than 500 employees to deduct 20 percent of their income in 2012. Although the tax deduction in the GOP bill is limited to half of the cash wages paid to employees. The Tax Policy Center estimates that half of the benefit of the small business tax cut proposed by the Republicans would go to the wealthy people earning more than $1 million. The House Republicans have countered by arguing that their bill puts more money back into the hands of small businesses so they can reinvest those funds to accelerate the growth of their business and create more jobs. This claim has been disputed by a non-partisan think tank on small business taxation, but it’s not clear that Obama’s proposal would add many jobs either — it could simply benefit businesses that planned to hire anyway. Nor is it clear that Obama’s proposal will be supported by many Republicans in the Congress and may be dead on arrival.

Obama also plans to propose extending through 2012 one of the incentives on the N.F.I.B.’s agenda: the 100% bonus depreciation for 2011 that was signed into law as part of the deal to extend the Bush tax cuts. Bonus depreciation is broadly popular, and this part of the president’s proposal may have a better chance of becoming law.

Entrepreneurs and small business owners are welcome to join the conversation on Tradeseam to help jumpstart entrepreneurship and hiring that will contribute towards the global economic recovery for a better future for all.

Share |
Get A FREE Tax Preparation Quote

Social Media Defined | Tradeseam

May 29th, 2012

What is the definition of Social Media?

The Social Media definition is the use of technology to co-create, communicate and or collaborate with your constituents – friends, family, customers and or partners.

What has changed?

Just about everything  – if you studied marketing in the academic world, you most likely covered the 4 Ps of marketing – you simply created a product, determined a price for it, got it distributed in the market, and promoted the heck out of it. Today’s approach to marketing leans heavily on the 4Cs of marketing. Plenty of content created by users, aggregated and delivered in a context that makes it useful for consumers who are starving to connect with people, products and brands that they can coalesce around to build a community.

Social Media Marketing = Content + Context + Connection + Community

Is social media simply today’s hot thing?

Think you can sit on the sidelines to watch the social networking hype play out. Think again after you have considered the following statistics:

  • The top social networking sites – Facebook, Twitter and LinkedIn – collectively received more than 2.5 billion page visitors in one month alone. And the newest member –  Tradeseam grew by 500% in 2011.
  • In fact, if Facebook were a country, it would be the third largest country.
  • The newest social media for small business site called Tradeseam now hosts more than thousands of small business listings and reviews.

Not long ago, social media seemed so new and different that it was treated as an appendage of sorts- a kind of marketing that should be tried only by “experts”. While that view still exists within some small business circles, its become clear to most small business owner’s that social media is no longer marketing’s new thing. So rather than asking yourself if you should or should not Facebook, Twitter or Tradeseam, the question is how can Facebook or Tradeseam help you achieve your business objectives?

Read the Small Business Tradeseam starter guide on how you can feed the social media beast and you will see it pay dividends in helping you grow your small business.

Share |
Get A FREE Social Media Marketing Quote

How To Choose A Medical Billing Service For Your Practice

May 2nd, 2012

If you run a small to mid-size medical practice, outsourcing your medical billing needs may be very beneficial to your bottom line.  Handling medical billing internally has significant drawbacks for clinics, dentists and chiropractors.

First, most forms of financial mismanagement and fraud come from within a company and oftentimes these schemes are perpetrated by personnel who have been with the company for years.  By outsourcing your medical billing, you no longer have to worry about this.

Second, medical billing outsourcing may be a better financial decision.  Small practices often cannot afford to hire extremely qualified applicants for medical billing and coding positions.  Instead, a person will typically split responsibilities between medical billing, receptionist work, etc.  This divergence of work responsibility takes the focus off of billing, and a lack of concentrated focus can also lead to increased medical billing and coding errors, which is, in fact, a leading cause of rejected claims.  Rejected claims results in lost time, and lost time results in lost money.  You most likely outsourced your website development because it is not your area of expertise.  Doing the same with medical billing may be the best decision.

4 Items To Consider

If you have determined that your practice may benefit from outsourcing medical billing services, then the next step, of course, is selecting the right one from the top medical billing companies.  There are countless medical billing services, but not all are created equal.  Therefore, make sure you conduct in-depth due diligence before signing any contracts.  Here are 4 items to consider as you vet firms.

Local or National?

Do you want to have a local medical billing services company?  Would you prefer to be able to meet the company and people who will be representing your company, or is that not a big deal?  The answer to this question will significantly reduce the number of viable options if you prefer a local company.

Regulatory Compliance

Although you are outsourcing the billing, the practicing physician is still responsible for the billing company’s actions.  Therefore, make sure to ask for all compliance policies and procedures documents in order to ensure that the company takes a hard stance on regulatory grounds.

Pricing

Of course, this will be a huge consideration because this is where one determines whether it makes sense, financially, to move forward with outsourcing all of one’s billing.  The mantra, “You get what you pay for,” is never truer than in the services industry.  Thus, it is imperative that one make sure he or she is not simply hunting for the best bargain.  The goal should be to find the firm that offers competitive pricing, but also has tremendous industry respect and notoriety.  It oftentimes helps if the firm specializes in medical billing rather than offering comprehensive total merchant services.

IT

This is the technology age.  The medical billing industry has moved largely to electronic claims submission, so it is best to deal with companies that have a heavy technology focus and are staying on the cutting edge of tech advancements.  This can save significant money over time.

Share |
Get A FREE Medical Billing Services Quote
Get A FREE Credit Card Processing Quote

Top 10 Web Designers & Web Design Company Blogs

November 5th, 2010

Top 10 Web Designers  & Web Design Company  blogs have been ranked based on Google Page rank,  Alexa traffic  rank and Technorati authority.  The three sources have been used to  score the Web Designers &  Web Design company blogs from 0 to 10, where 10 is the highest score. The highest aggregate total score for a web designers  blog, therefore, is 30.

Web Designers Blog

Google

Alexa

Technorati

Total

A List Apart

8

10

10

28

Smashing Magazine

6

10

10

26

456 Berea Street

7

8

8

23

Brian Gardner

6

7

10

23

Pearsonified

7

6

10

23

Meyer Web

8

7

7

22

Warpspire

7

4

10

21

Tutorial Blog

5

8

8

21

Sitepoint Design Blog

6

10

4

20

The Undersigned

7

3

10

20

Top 10 Web Designers & Web Design Company  Blogs considered: the above list considers Web Designers & Web Design Company blogs that have a high percentage of website design content. The  web design  content might range from latest web development technologies, website designers tips to general best practices and web design forums etc.

Google Pagerank: the actual Google Page Rank was used in the score.

Alexa Traffic Rank: Scores were calculated based on the Alexa Traffic  Rank (i.e., 150k-100k, 100k-50k, 50k and up) and each range was assigned a score  from 1 to 10.

Technorati Authority: Scores  were determined based on Technorati’s Authority rank (i.e., 1-100, 101-200,201-300,301-400,…) and each range was assigned a score  from 1 to 10.

Share |
Get A FREE Web Site Design & Development Quote

Top 10 Merchant Cash Advance Companies

October 17th, 2010

If you have a small business that is unable to get approved for a coventional small business loan or don’t want to deal with the hassles of a long business funding approval process, lots of paperwork, secure collateral and fixed monthly payments, many merchants including small business owners are turning to merchant cash advance loans as a means of raising capital for their business. A merchant cash advance loan works by paying merchants a cash advance for a percentage of future sales. The cash advance is then paid back over time in the form of a small, fixed percentage of the business’ credit card transactions so the repay is more flexible and based on cash flow. Merchant cash advance helps business owners get the cash they need for equipment, services, inventory, settling past debts and just about anything they need to grow their business and here is a list of the top 10 merchant cash advance companies:

  1. Benchmark Capital Funding
  2. Accelerated Business Capital
  3. Merchant Rewards Network
  4. Paramount Merchant Funding
  5. North American Bancard
  6. Business Cash Advance
  7. First Working Capital Group
  8. Advance Me
  9. Sure Payment Solutions
  10. Next Level Funding

Don’t agree with this list? Recommend a Merchant Cash Advance vendor that you believe should be ranked higher or log into Tradeseam Business Network and recommended your preferred vendors that are best in the business.

Share |
Get A FREE Business Cash Advance Quote

Top 10 SEO Blogs for Search Engine Optimization Strategies, News and Discussions

October 7th, 2010

The Top 10 SEO blogs have been ranked based on Google Page rank,  Bloglines subscribers and Technorati authority.  The three sources have been used to  score the SEO blogs from 0 to 10, where 10 is the highest score. The highest aggregate total score for a SEO blog, therefore, is 30.

   

Top 10 SEO Blogs

Google

 Bloglines

Technorati

Total
 

#1

Search Engine Land

7

9

8

26

 

#2

Search Engine Watch

7

10

7

24

 

#3

Search Engine Journal

7

9

8

24

 

#4

Search Engine Roundtable

7

8

8

23

      #5 Search Engine Guide

7

4

6

17

   #6

SEO by the SEA

6

5

5

16

   #7

Link Building Blog

5

5

4

14

  #8

SEOpedia

6

4

4

14

  #9

Tropical SEO

5

3

4

12

 #10

Small Business SEM

5

3

3

11

SEO Blogs considered: the list considers only SEO blogs that have a high percentage of SEO content. The  SEO content might range from SEO strategies, SEO link building, search engine optimization pricing to general best practices and SEO discussion forums etc.

Google Pagerank (0 to 10): the actual Google Page Rank was used in the score.

Bloglines Subscribers (0 to 10): Subscriber ranges were determined (i.e., 1-50, 50-100, 100-150, 150-300) and each range was assigned a number (1 to 10).

Technorati Authority (0 to 10): Ranges were determined based on Technorati’s Authority rank (i.e., 1-100, 101-200,201-300,301-400,…) and each range was assigned a number (1 to 10).

Share |
Get A FREE Search Engine Optimization Quote

How to Maximize Your Return on Search Advertising Spend?

August 12th, 2010

The internet has become the primary media outlet to find, research and buy products and services today.  Media buyers and planners are constantly debating on what is the most effective way to target these audiences with digital advertising that will result in the highest conversions maximizing the return on advertising spend (ROAS) for their advertising clients. A few digital advertising agencies have the opinion that search advertising is the most effective means of  targeting audiences based on consumer intent resulting in conversions while some are of the belief that search engine optimization is the most cost effective sales channel.

However, performance marketing must mix both strategies to achieve desired results. Large and Small businesses should use  a combination of pay per click advertising and search engine optimization to drive conversions across the entire sales funnel.

The long tail

The great recession has compelled large and small businesses to operate within tight budgets and cut costs. Though pay per click ads help increase traffic to the website and have demonstrated a return on investment for most businesses, they have become expensive. One way businesses can get higher returns from PPC ads is by focusing on the long tail and determing user intent.  Long tail keywords cost less as there are fewer competitiors bidding on them and they can also help in determining user intent so the advertiser can reflect it in their dynamic ad copys and landing pages resulting in higher conversions at lower cost per clicks.

Augmenting pay per click with SEO

 Any digital advertising strategy should be augmented with relevant keyword rich website content. This strategy automatically improves the seo ranking of the website. This enables large and small businesses to appear for relevant search terms in the organic search engine results pages thereby increasing the exposure to potential target customers.

Many new age, online advertising agencies recognize the value of this combined approach and offer a combination of search engine optimization and keyword selection services to clients.

All clicks are not customers

All PPC clicks are not the same. Large and small businesses must recognize this fact and keep it in mind when building and managing search marketing campaigns. Digital advertising companies help businesses in building online campaigns by educating them on the different  tactics based on the clients objectives. For example, if an antiques business bids on the phrase that includes the location of the store + ”antiques”  to target local area traffic only, the ad copy can still appear and generate clicks that are related to users looking for antiques information or jobs but are not buyers of antiques products. Digital advertising companies can track the keyword phrases used by majority of the users searching on the antiques related keywords and help identify the buyers based on the keyword  intent so the client can maximize its return on advertising spend. 

Smart businesses look to continuously trim their advertising waste by improving their profit margins by incorporating data to evlove their digital advertising strategies.

Share |
Get A FREE Search Marketing Quote

3 Ways A Small Business Can Beat the Double Dip Recession

August 10th, 2010

A small business can beat the double dip recession by reducing the consumption of resources, and optimizing time and money by outsourcing business functions and incorporating efficient systems.

1. Answering services

Many small businesses have downsized to maintain profit margins in the recession. However, downsizing should not affect the quality of customer service. Phone answering services make sure all calls are attended by trained personnel, basic questions and issues are addressed by them and only callers needing special information are directed to business experts. This allows small and mid sized businesses to devote more time and employee hours on revenue generation while keeping track of incoming calls that could be business leads.

2. Business VOIP

Small businesses can cut down costs drastically by replacing traditional PBX phone systems with partial or complete VOIP phone systems. Small and mid sized businesses can save on the costs of calling long distance customers, partners and suppliers,  and free up resources as only one network needs to be managed for voice and data transmission by using VOIP communication tools and conferencing technologies. Small business VOIP systems are scalable, easy to maintain, user-friendly and reliable.

3. Collection agencies

In lean times, many customers hold on to payments to maintain cash flow. Their gain is your loss. Bad debts can squeeze the life out of small or mid sized businesses as they rely on immediate payments to maintain daily operations. Collecting payments is a delicate task that takes up valuable time and resources. Small businesses can outsource the job to professional collection agencies to receive timely payments without hurting customer relationships.

These measures are relatively inexpensive and offer both short-term and long-term benefits for the business. A smart business implements timely solutions to overcome problems, and converts the solutions into opportunities of growth and profit.

Share |
Get A FREE Collection Agencies Quote

Top 5 Ways To Generate Sales Leads

August 4th, 2010

A business that hopes to expand cannot afford to be complacent and content with its existing customer base. By limiting customer outreach, businesses limit future potential income. To help with growth and sustain revenues, businesses should add to their prospect list every day. This can be achieved through effective marketing strategies that generate more qualified sales leads and conversions.

As a small business owner, you should explore several different options to expand your customer base. Businesses have successfully tried one or all of these strategies to generate leads.

1) Customer oriented marketing

There are way too many businesses out there offering products similar to yours. To make your marketing material – newspaper ad, brochure, newsletter, email, direct mail, internet ad – stand out from the crowd, you need a headline that grabs the customer’s attention instantly. How do you do this? You do this by addressing the customer’s need. A headline such as “No more bad debts” is more noticeable than “Collection Agency“. By focusing on the customer’s immediate problem, you stand a better chance of attracting attention.

2) Measure effectiveness and weed out wasteful efforts

A business usually employs more than one marketing effort to promote its products and services. But how do you know what works best? You know this by measuring the results of each marketing effort individually. Marketing involves money, time and effort, all of which are wasted for unproductive marketing tactics. For example, a web design company may find that 90% of qualified web design leads are generated through search engine optimization and pay per click advertising online. It makes sense to cutout other strategies and focus only on what delivers the best results.

3) Use your website to attract leads

Your business website is a great opportunity to influence customers. The appearance of the website should appeal to prospects and the content should convince them of your commitment to solve their problems. The web design quote should guide customers to enter the desired information in minimal number of clicks. Contact numbers, email addresses, fax numbers and inquiry forms should be clearly displayed. A user-friendly website wins customer’s favor and leads to repeat visits and recommendations.

4) Cross marketing for increased value to customers

Cross marketing is tying up with another business that sells products and services that complement what you sell. By doing this, you offer customers a complete set of services that meet all their needs and increase your own chances of making a sale. For example, website designers can build a relationship with copywriters. A green consulting firm can tie up with a company that sells energy-efficient equipment. These symbiotic relationships offer customers one-stop solutions and cost savings – an irresistible combination.

5) Address customer’s needs through questions

The goal of any marketing piece is to generate sales leads by getting customers interested in your products or services. One strategy that works well is to ask customers about their problem and provide a solution. A direct question that hits the nail on the head gets noticed immediately. For example, a question such as “Is loss of teeth making you lose your smile?” will have greater impact than “Do you need a dentist?”

Each of the above mentioned strategies work to increase sales leads. Analyze your marketing techniques and incorporate the suggestions to fill gaps. The effort will be worth the results.

Share |
Get A FREE Telemarketing Quote