Teachers! Win a $500 Shopping Spree

Posted by admin on Jun 2, 2011 4:02:00 AM


Read More

Topics: Giveaways

Eating Healthy on a Budget

Posted by admin on May 30, 2011 1:51:16 AM

Many people look at rising food prices and feel that it’s impossible to eat a healthy whole-food diet on a budget. But switching to and maintaining a healthy diet can be cost-effective and even cheaper than a conventional diet if a few simple shopping habits are established.

Shop Around
Most local newspapers have a Sunday edition that includes weekly ads for local grocery stores, and many stores now have digital copies of their ads available online. Take advantage of whatever format is most convenient and look through each ad at the beginning of the week. Write down sales on items you need or that are frequently used in your home. Pay particular attention to sales on fresh fruits and vegetables, as these can be helpful starting points for your weekly dinner menu.

Read More

How to Advertise Your Business Without Going Broke

Posted by admin on May 25, 2011 2:21:00 AM

Many new entrepreneurs tend to believe that having a formal marketing plan may be excessive in the initial stages of their business. In some cases, this may be true but one thing that’s important to know before spending on advertising is the audience.

Read More

Topics: Small Business

How to Live the Frugal Life - and Have Fun Doing It!

Posted by admin on May 23, 2011 1:47:36 AM

There are a lot of articles on how to save money, stick to your budget and cut corners. When the economy is down, people tend to get down too - but there's no reason why you shouldn't be able to learn how to live frugally and have fun at the same time. Changing your spending and learning how to be more frugal can be a challenge, but learning to cut down on your spending while still getting "the good things" for yourself and your family can actually be exciting!

Read More

Facebook Sweepstakes!

Posted by admin on May 19, 2011 1:45:00 AM

Read More

Topics: Giveaways

The Legal Structure Of A Small Business

Posted by admin on May 18, 2011 2:00:00 AM

The Legal Structure Of A Small Business
Small businesses have a unique appeal in American life. The ideal of the self-made entrepreneur calls people to start over 600,000 small businesses each year. The Small Business Administration estimates that more than 627,000 businesses were started in 2008. (1) The downside of small business creation is that the majority of business fail the first year. In 2008 alone almost 600,000 firms failed. (2) According to the Commerce Department, only seven out of 10 firms last longer than two years. Only five out of 10 businesses survive five years. (3)

Starting a small business is a complex task and requires internal strength, diligence and persistence. The legal structure of the business plays a large role in determining funding and the level of taxation. The wrong legal structure can kill a business before it even opens it's doors. Properly incorporating the business when setting it up can even potentially save the owner from bankruptcy in the long run.

Sole Proprietorship
The small business owner is the business under this legal set-up. The owner legally represents the company. This simple structure creates minimal tax complications, has much lower start-up costs and makes it easier to handle funds and profits. Unfortunately, since the owner and the company are legally one and the same, creditors can sue the owner for the debts of the business. There is no legal separation between the owner's liability and the business's liability. The owner himself will have to file for bankruptcy if he cannot meet his business obligations.

S Corporation
Under this plan, taxation is similar to a sole proprietorship. There is no corporate tax rate, which makes this structure very attractive. Profits and losses become part of the owner's personal income and are taxed at the owner's applicable rate. An S corporation also allows the owner to write off any losses incurred when starting the business. The biggest downside is the requirement of maintaining regular meetings between shareholders and keeping minutes from these meetings.

C Corporation
This is a more complex version of the S corporation structure. C corporations are the legal structure behind the popular image of a corporation. A board of directors decides company policy and shareholders own different classes of corporate stock. C corporations are taxed at a separate rate and their income is legally separated from the owner's personal income. Owners cannot write off start-up losses. The complexity and responsibility of a C corporation is enough to persuade most small business owners of choosing another legal plan.

Limited Liability Company
A limited liability company (LLC) is probably the most ideal structure for a small business. The owners of an LLC are legally separate from the company. Consequently, the owner is not liable for business debts and creditors cannot sue him to recover them. Profits and losses pass through to the owner's personal income. The operating costs of an LLC are much lower because no meetings, minutes or boards are required. The downside is that an LLC dies when it's owner either dies or goes bankrupt.


(1) http://www.sba.gov/content/how-many-businesses-open-and-close-each-year
(2) http://www.sba.gov/content/how-many-businesses-open-and-close-each-year
(3) http://www.sba.gov/advocacy/7495/8430

Read More

Topics: Small Business

How to See the Sights on a Shoestring

Posted by admin on May 16, 2011 1:41:17 AM

Although some might say travel is an unnecessary expense to begin with, some people just get that travel itch, especially as the weather gets warmer. Travel doesn't have to mean spending money on hotels and tourist traps, though. Follow these tips to reduce the costs of each aspect of your trip so you can see the sights on a shoestring.

Read More

Saving Money In The Office

Posted by admin on May 13, 2011 1:55:00 AM

In order for any type of business to be successful, ways to reduce operational costs should always be sought. Even if a small business has a rather large budget to operate on, the more money it can save means the greater profit levels it will endure, which means the further it will be able to expand. Saving money on office supplies is an excellent way for all businesses to reduce their operational expenses, and best of all, there are several ways to save on office supply costs.

Read More

Topics: Small Business

Transitioning Into a Frugal Life

Posted by admin on May 12, 2011 1:37:39 AM

There is no getting around the fact that living frugally takes effort. Nothing in the world is more difficult at first than changing your habits, even if the change is drastically for the better, and many attempts to better yourself will fall flat long before the benefits of any changes come into play. There are hundreds of small changes that can save a penny here or there, but making sure the changes stick is the real task at hand. Here are a few pointers that can help ease your transition from a lifestyle of habit into one that wont break the bank at the end of the quarter.

Read More

Buying a Car Online Doesn’t Mean What you May Think

Posted by admin on May 11, 2011 1:34:04 AM

Have you ever bought a car online, or heard friends or family mention anything about buying one online? Have you ever dealt with the fleet manager or sales manager at a local dealer even if you were only buying one car? Chances are that if you have tried either of these methods, you did so in efforts to get a better deal. Oddly enough, “buying a car online” is essentially the same thing as negotiating with the fleet manager—you go directly to the gatekeeper who can offer discounted pricing due to their high volume of sales. Even if you’re just buying one car, wouldn’t you still want to get it at wholesale rather than retail (invoice rather than sticker)?

Buying online is not what you may think—it doesn’t involve you sending in money online and doesn’t involve your car getting delivered to your door like other online purchases—though a car can be bought like this if you really want to. Rather, buying online simply means that you utilize one of the many online car buying sites out there to do your research and to use their negotiating power to get a better deal. Once you find a deal you like online, the remaining transaction is carried out in the traditional manner—you pay for, and pick-up your car at the physical dealership.

Read More