February 1, 2022 -- Volume 21, No. 2
What to Do About Inventory Challenges in 2022

The post-holiday season is the time for taking a physical inventory of your merchandise and restocking your shelves. According to U.S. Census Bureau information reported by Trading Economics, inventories in general rose at the highest level in October 2021 were the highest since May 2011. Sounds rosy? If you’re an inventory-based business, things related to your items haven’t been easy in recent months and likely some problems will continue. Here are some challenges you may or are likely to face in optimizing your inventory and what you can do about them. Read More
Startup Ideas for Success: Getting Your Ducks in a Row
Startups are exploding. Intuit’s survey predicts 17 million new businesses will start up in 2022. The survey found that nearly three out of five people wanted to start a business and 20% will actually do so in 2022. Of course, there’s a lot of important information that new business owners need to know. The first idea for 2022 for startups is to organize properly right from the get-go. Read More
Business Owners and their "Combat Fatigue"

Combat fatigue, according to the dictionary, is a psychological disturbance caused by prolonged exposure to active warfare, especially being under bombardment. But this sounds a lot like the psychological disturbance that many small business owners are experiencing from going through two years of COVID-19, supply chain disruptions, labor shortages, and most recently, spiking inflation. Not to belittle or even equate the wartime experience, small business owners need to find ways to handle their “combat fatigue”—severe stress—and move ahead. Here are some ideas to help. Read More
Mentoring for Entrepreneurs

It’s a fact that having a mentor increases your chances for success. According to a study by Kabbage, 92% of small businesses that received mentoring said it had a direct impact on growth and survival. Unfortunately, only 22% had a mentor when they started; 89% of owners that don’t have a mentor wish they did. Get a mentor; be a mentor. The following is an update of an old blog. The importance of mentoring hasn’t changed, but some of the resources are new. Read More
3 Ways to Use Automation for Everyday Business Tasks

Small businesses, by definition, have limited staff and resources. In order to operate “big,” technology has provided some practical assistance. There’s a lot of talk these days about artificial intelligence (AI) and other sophisticated technology. There are many tools available for small businesses that won’t bust budgets. In addition to your basic tools, such as Microsoft 365 and G Suite, there are other ways to do things efficiently within your limitations. Consider how you might use some automation tools in your company. Read More
Reporting Payments to Independent Contractors: 5 Things to Know

If you engage independent contractors and pay them in the aggregate $600 or more during the year, you must report payments to them and to the IRS. In fact, business tax returns ask whether you’re required to file 1099s and whether you have or will do so. You may report payments that are below this threshold, even though not required to do so. The failure to report nonemployee compensation—payments to independent contractors—meeting the threshold can result in costly penalties to you. Read More
Latest Update on COVID-19 Rules and the Workplace

It’s been nearly two years since COVID-19 debuted in the U.S. We now have variants and there are no guarantees there won’t be more to come. The federal government, the states, and some localities have issued various directives for vaccines, quarantines, and other measures designed to create a safe workplace. Where do we stand? The rules seem to change daily and some rules conflict with others. Here are some of the latest rules you need to know, with the caution that they may change at any time. Read More
Make Plans, Not Resolutions

New Year’s resolutions have become a perennial activity. For personal reasons, resolutions usually focus on becoming healthier, saving money, and learning a new skill. Nearly three quarters of all Americans made resolutions in 2021. But a New Year’s resolution is merely a promise to do something differently than in the past. For business reasons, it’s easy to make a list of promises you’d like to see happen in your company the coming year, but how are you going to make this a reality? You need more than a promise and a prayer. Read More
This Month's Featured Guest Blog
by Shannon Flynn

Many businesses and enterprises rely on the cloud for all of their data needs. With more people working remotely and more business being done online, it’s no surprise that cloud technologies are going to change. An emerging trend within IT is the “distributed cloud.” The concept of a distributed cloud system involves businesses being able to migrate their data into different cloud locations at will. Read More
In time for the tax filing season -- get your copy of the 2022 tax books -- available for purchase from Amazon now!

Start-up Steps for Your Digital Business
The pandemic may have caused many businesses to fail, but it also appears to be doing something to boost the entrepreneurial spirit. This is evidenced by a surge in business start-up applications. The U.S. Census Bureau reported there were 418,380 business applications in December 2021. For all of 2021, nearly 5.4 million applications were filed, which is the most of any year on record.
Tips for Giving Employees Financial Help
On occasion, an employee may experience serious financial problems and share them with you—the boss and small business owner. Many employees are still reeling from COVID-19-related problems and now, with high inflation, may face new financial challenges. For owners, being compassionate is a good quality, but also be aware of some issues if you want to help.
5 Ways to Cut Employer Tax
How does payroll tax work and what's its impact on your business?
Read on to learn how to cut employer payroll taxes.
My Interviews
with Josh Jalinkski,
The Financial Quarterback: Inside the Huddle
The Wall Street Journal calls her "the guru of small business taxes."
Barbara Weltman talks taxes!
Stressed about Taxes? Discover some helpful tips!
And ...
Hear Josh and Barbara talk about why people should make sure to take their qualified charitable distribution (QCD) and RMD because different rules apply, and you don't want to be hit with that tax bill.
I hope you've checked out my eBook!
500+ Big Ideas for Your Small Business
Ideas You'll Use Everyday!
Whether you’re a seasoned entrepreneur or just starting out, you’ll find actionable ideas to help you with your finances, your operations, your staff, your marketing, your taxes, your technology, your environment, and your personal growth. (Find it on Amazon for $3.95)
I'm delighted and honored to be included in this list.
Building a successful business is tough, but you’re not alone. Follow these 10 women entrepreneurs for smart tips, tools, and resources.
Also, honored to be featured in this LinkedIn article:
"SMB Insights on Tap: 8 Experts to Follow"
You can learn more and discover some great resources in this article.
More Resources You Won't Want to Miss!
Hear my conversation on this
eBay Business Podcast:
Listen here as we discuss a critical issue for small businesses on the important changes to the U.S. tax code.
HBM Home-Based Business Start-Up Guide
Delivery Driver Tax and Business Guide

(Paperback Edition)
Top industry leaders share their secrets for turning pain into profit!
by Barbara Weltman
100+ Tax Deductions 2022
Coming Soon!

A new e-book:
100+ Tax Deductions for Small Business
A to Z
Free to download when you subscribe to our mailing list.
Watch for details on our website.
Pleased that my blog has been mentioned as a "must read blog" for small businesses and entrepreneurs!