Mark your calendar for Tuesday November 2nd at 3 pm PDT/6 pm EDT. You will discover the most recent IRS cases and what they are now looking for to determine if your activity actually is a business or a loss. The difference is dramatic to your ability to write off losses.
Starting a business on your own can be a daunting task. It requires a lot of energy. The good news is you do not need a meeting every time you make a major decision. You are the boss, owner, president, manager, CEO, employee and shareholder all wrapped up into one decision-making machine. You have no excuses because you are in charge. The key is to be accountable for your decisions and notice what is working and what is not working and move forward towards success. There is no need for a buy –sell agreement (used when you have a partner in case one wants an early out). Life is pretty simple (as much as it can be when you are running a business).
Is your business not turning out the way you planned? You may have had to go back to work for someone else to bring in money for you and your family. This happens all the time. Is business slow and you are contemplating that move as well? You set up a separate legal entity for your business with one of the primary goals being to protect the revenue that would come from your business. Do you shut down and dissolve that entity or keep it active for another business opportunity?
In today’s tight economic environment, consumer confidence is low, credit is hard to come by and the debts of many small business owners soar higher and higher. Instead of searching for the next fancy “push button” solution to bring in cash flow consider the simple things you can do on a daily basis for success.
There are many advantages for international clients to establish a U.S. company. Two that are top on the list are to help you develop more trust with the largest consumer market in the world ($158.3 BILLION in online sales in 2010) and to help establish joint ventures with the U.S. market. A U.S. consumer would much rather prefer to do business with a U.S. company. If you are in Australia, the UK, or New Zealand, you appear offshore to the U.S. consumer…and that means potential problems when it comes to recourse, or for other issues. If you are overseas, it may be very expensive to get basic issues handled with customer service or refunds. In this case, the U.S. business owner or consumer would rather do business with another U.S. company. That is where you can come into play if you are international. You can establish a U.S. company (your U.S. Cash Machine) to access this market.
There are a few tips to help you do more business in the U.S. Market:
Then I began studying with the world’s top business experts, including Jay Abraham, Chet Holmes, Dan Kennedy, Michael Gerber and Tony Robbins. I hired mentors in HR and leadership to help take NCP to a whole new level. We’ve done so much more than survive the odds for the past twelve years — we have prospered. We now have more opportunity and JVs on the table than ever before to help more entrepreneurs succeed!
And not only do you have to survive lawsuits, but the scrutiny of the IRS, too. Amazingly enough, in a self-audit last year the IRS determined they were $300 BILLION SHORT in tax collections — and that their biggest culprit was NOT large corporations. They’ve decided that small business owners just like you cause most of their shortages, especially sole proprietorships. That makes sole proprietorships that file a Schedule C tax return 300% more likely to get hit with an IRS audit versus those who do not! Continue reading →
