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Disasters Can Happen

Main Street Depositors And Lenders Continue To Get A Raw Deal

Simple Math of Bank Horsepucky

by MN Gordon

Economic Prism

The Raw Deal

We stepped out on our front stoop Wednesday morning and paused to take it all in.

The sky was at its darkest hour just before dawn.  The air was crisp.  There was a soft coastal fog.  The faint light of several stars that likely burned out millennia ago danced just above the glow of the street lights.

After a brief moment, we locked the door behind us and got into our car.  Springtime southern California mornings are exquisitely pleasant.  The early morning drive to downtown Los Angeles, on the other hand, is exquisitely painful.

Nonetheless, we make the best of it like we make the best of a trip to the dentist – or a visit with our accountant.  If anything, it affords us the opportunity to do something most people rarely do.  In particular, it gives (Read More....)

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States Which Place the Harshest Tax Burdens on Businesses

Those owning a small business know the effect a state’s tax policy can have on their bottom line and long term growth. A state with high tax rates can affect a business’s ability to invest in new machinery, equipment, and services, and can prevent the company from hiring new employees.

All states set their own rates for corporate taxes, property taxes, sales taxes and individual income tax rates. The tax rates of the different states can vary widely. When considering the varying tax rates of states, the terms “business friendly” and “business adverse” states can be identified.

Individual Rates and Small Businesses

Even individual tax rates can affect a business, especially a small business. This is because the majority of small businesses are taxed either as a (Read More....)

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Small Business Growth is Vital to National Economic Recovery

The U.S. Economy is more dependent upon the welfare of small business than most people realize. It is truly a driving force that indicates the public trust in the economical atmosphere and their spending habits during times of recession and recovery. Small business is a finger on the pulse of the nation’s financial status, and according to the Small Business Profiles for States and Territories, 2005 edition, it provides jobs to over 50 percent of the nation’s independent workforce. The trend has not declined in the following years, but has shown substantial growths in a number of new and growing industries. Clearly, the U.S. economy needs the contribution of present and growing small business operations to remain stable in times of recession, and to serve as an viable means for employment and production. Our reliance on small business has heightened as a result of the financial crisis of 2007—2008: Source; WikipediaA; Financial Crisis of (Read More....)

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6 Reasons To Take Payroll Paperless

There are many advantages for companies in outsourcing payroll, such as the cost reduction experienced when electronic means are used. Not only does it save on processing costs, but companies are also being more ecologically responsible by doing so.

Below are just some of the important reasons that firms utilize outside payroll services.

1) Cost Reduction is a number one reason that many companies switch to outsourcing their payroll. Research has shown that businesses with around 10 employees typically spend approximately $2,600 annually on payroll labor costs alone. The second way that companies save is by freeing up employee time. Administrative staff are able (Read More....)

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Small Business Outlook After Fiscal Cliff Deal

Markets reacted favorably after the January 1 vote that averted the fiscal cliff, with world and US markets jumping. The bill extended tax cuts for individuals earning less than $400,000, delayed a series of automatic cuts and set the stage for another financial battle in less than two months, according to CNN (.com). The bill provides temporary clarity for small businesses, which enter 2013 navigating the murky waters of a still struggling economy and an impact on new legislation.

Small businesses have much to consider as they settle into 2013. This buzzer-beating bill may have tempered worry in the short term, but many small businesses will be scrambling to raise the bottom line and improve stability.

Avoiding a Crisis

The initial reaction to the bill was predictable — both US and World economy rose after the news broke, CNN reported. The move temporarily holds off the possibility of customer demand plummeting because of a (Read More....)

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How A Small Business Can Legally Eliminate Unsecured Debt

When it comes to eliminating unsecured debts, a small business holds various options at its disposal. Undoubtedly, an owner should take advantage of these solutions should the need become necessary. Eliminating debt is the key to running a successful and healthy business. Numerous factors can cause a company to miss payments though, which can cause debts to rise quickly. The situation can then grow out of hand. With that in mind, acting quickly is the key to avoiding any major problems.

Create A Budget With Debt Elimination In Mind
An effective budget can help any business or person rid themselves of debt quickly and efficiently. For that reason, creating a budget and plan of action is more than necessary. The owner should list all of the company’s incomes, expenses, and debts. This should include estimates on how much debt can be paid off each month. Of course, each business will only be able to put so much toward debts on a regular basis. A little each month (Read More....)

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