Tax Strategies for Increasing Prosperity

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How To Save Taxes With An S Corporation
Ever wondered why so many small businesses—more than 3,000,000 at last count—operate as an S corporation? Simple. An S corporation saves business owners big taxes in three separate ways: First, as compared to regular corporations (sometimes...



Small Business Tax Deductions for Year End 2004
As a small business owner, it's wise to familiarize yourself with some key deductions that may reduce your tax bill for 2004. Employee Benefit Plans - You may deduct contributions to employee benefit plans (such as health insurance plans and...

The Basics of Business Record Keeping
As a business owner, you may rely on an outside accountant to do your taxes and prepare financial statements. However, it's best that you or someone in your organization take on the responsibility of keeping an accurate set of financial records. ...


Tax Trap #1: Waiting to Incorporate: What A Difference A Date Can Make
NOTE: This is the first in a series of 5 articles: "Small Business Tax Traps and How To Avoid Them" If you're a sole proprietor, perhaps you've considered incorporating your small business or self-employment activity. And so maybe you've been...

 
Hiring A Virtual Assistant Can Help Your Business Grow


In today’s tough economical times it’s hard to think of hiring someone else to assist you, but it may be more cost effective than you think. If you’re spending a large percentage of your day doing “busy work” rather than working on growing your business or gaining more clients, a virtual assistant may be right for you.

Are you a writer, but spend more time researching and less time on your actual writing? Are you a professional coach, but spend more time with your newsletter and other day-to-day things and less time finding new clients? Are you a realtor, but spend more time on your mailings instead of getting new listings? Maybe you’re the home business owner and you’re Webmaster, receptionist, and assistant all in one, but you aren’t productive enough. These are circumstances where an assistant could be used. Now you’re thinking, my business is too new or my business is too small for an assistant. A “Virtual Assistant” could be your answer.

A Virtual Assistant only works when it is necessary. In other words, you only pay when there is work to be done. You might only need someone to send out your weekly newsletter, do some research for the book you’re writing, keep your schedule/calendar, do a mailing for you, or all of the above. Whether it is one hour a week or 20, your VA will be there for you. She or he can


live anywhere, so you do not need to provide office space or equipment. Taxes, social security, and benefits won’t be a worry for you because your VA is working for herself.

Finding and hiring a VA is also an easy process. With technology always progressing and more people wanting to stay home with their families, many assistants are leaving the workplace and starting their own businesses from home and bringing all of their experience with them. You can get their resume and references or just hire them for a small job. As your partnership grows you’ll feel more comfortable assigning more work. At any time, if either of you feel it isn’t the right fit you can easily convey this to each other and end the partnership.

Trying a VA may be the best thing for your business whether it is small, large or just beginning. Focus your attention less on your usual busy work and more on growing your business. You may be pleasantly surprised at what a VA can bring to your business.

Marie Fahey is a virtual assistant, wife and mother of two living and working from her home in Massachusetts. She has 10 years experience as an assistant. If you have questions regarding Virtual Assistants or would like to hear more about her services, please contact Marie at MTFahey@aol.com.


 


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