September 1, 2021 -- Volume 20, No. 9
Golden Handcuffs: Low-Cost Employee Retention Ideas

It’s been reported that 25% of employees want to seek new employment following the pandemic and that 52% are thinking of changing the type of jobs to seek. It’s been called the Great Resignation. So how do you keep valued employees on your payroll? Consider golden handcuffs, which are defined by Merriam Webster as “special benefits offered to an employee as an inducement to continue service.” Small businesses usually can’t afford to offer the menu of benefits offered by large firms. But they can get creative and offer some desirable golden handcuffs. Read More
Recovery Strategies: Staying Positive
It’s axiomatic that small business owners are optimists who, as Winston Churchill said, “see the opportunity in every difficulty.” Why else would they risk everything—their money, their time, their ego—to start and run a business? But the pandemic has taken a toll. How can you get back to your upbeat mind frame?Read More
Running Behind on Those Updates? What You'll Want to Know Now

The pandemic has been such a strain on many small business owners that some matters have been pushed into the “do it later” file. Now’s the time to get up to date with various matters. It requires you to put in some time, but actions now can save you time and problems down the road. Here are some ideas for getting caught up on various business matters. Read More
Need a Business Vehicle? Tax Considerations to Factor into Your Choices

Are you thinking about getting a car, truck, or van now? Hybrid or electric-powered vehicle? Buy or lease a vehicle? And in who’s name (the owner or the business)? Your choice is usually based on business needs, fuel efficiency, your budget, financing options, and insurance costs. But whatever choice you make affects your taxes, which ultimately impacts your bottom line. Read More
Plan Your Holiday Sales Strategies Now

Kiplinger forecasts that the child tax credit payments being sent to parents each month from July through December will support more consumer spending at holiday time this year. Nonetheless, Clutch predicts that will be much harder for small businesses to compete with large companies (last year the top 100 online retailers accounted for 74.1% of all e-commerce growth) and small businesses will have to work harder. Get started now. Read More
5 Ways Inflation May Impact Your Business

For the past decade, inflation has been very modest (only 1.23% in 2020, 1.81% in 2019, and 2.44% in 2018). But things are changing. In June, the Consumer Price Index (CPI) for All Urban Consumers rose 0.9% for the month, producing an inflation rate over the last 12 months of 5.4%. Some may remember double-digit inflation, which peaked in 1980 at 13.55%. While experts aren’t predicting these high rates, nonetheless inflation is now a factor with which to contend in your business. In fact, two-thirds of small business owners fear that inflation will hurt their recovery. Here are 5 areas to examine. Read More
Tax Credits Ending Soon: What to Do Now

A month from now, on September 30, 2021, a number of business tax credits end. Others are scheduled to expire at the end of the year. Of course, any of these credits may be extended by Congress. But in case they aren’t, here’s a list of business-related tax credits (and a few income tax rules) set to run out soon. In some instances, you are stuck with the end of the break and there’s not much to be done. However, in other cases, you may be able to act now and capitalize on an opportunity that is soon to end. Read More
Tax Breaks for Investing in Small Corporations

During the government’s 2020 fiscal year (ending September 30, 2020), there were 1.8 million C corporations and more than 5 million S corporations. While we don’t know how many of them were small corporations, we can estimate that most fit this category because the SBA says that 99.9% of all businesses are “small.” Win or lose, using a corporation for business start-ups may produce tax breaks for owners.  Read More
What About Raising Your Prices Now?

Supply chain shortages. Inflation (which grew in May at an annualized rate of 5%). Higher wages to fill job openings (up in April and May at an annualized rate of 7.4%). Higher prices at the pump (gas prices rose 49.6% compared with last year). All of these factors and more combine to require many small businesses to raise their prices at this time. How you do it may go a long way in retaining customers. Read More
Featured Guest Blog Posts
Security Improvements
by Shannon Flynn

Cybersecurity isn’t just for big companies. While small businesses may not be as tempting targets for cybercriminals, they have comparatively more to lose from a data breach. In light of this risk, small business security is essential.
Fibre Broadband
by Joanna Cawood

Broadband internet is integral to modern life, and no less important to modern businesses. Connectivity is key to the smooth operation of most companies... Here are just 5 ways fiber broadband can benefit your business, and enhance your digital presence.
Are you interested in being featured?
Back to School Tax Breaks for Your Employees
August and September…the time when the school year begins for children. But it’s also a time to think about how you can help your employees further their education and training. It’s been reported that retention rates rise 30% to 50% for companies with strong learning cultures. Tax breaks may support your efforts.
Running Behind on Those Updates? Some Tips to Catch Up
The pandemic has been such a strain on many small business owners that some matters have been pushed into the “do it later” file. Now’s the time to get up to date with various matters. It requires you to put in some time, but actions now can save you time and problems down the road. Here are some ideas for getting caught up on various business matters.
(via Thryv)
I'm pleased to share this interview with you. We're discussing critical and current tax updates plus other issues facing small businesses and entrepreneurs. 
I hope you've checked out my latest eBook!
500+ Big Ideas for Your Small Business
Ideas You'll Use Everyday!
by Barbara Weltman
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.
I'm delighted and honored to be included in this list (updated January 2021).
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 recently 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!
SBT 2021
For your important year-round tax planning, you'll find what you need to know in these 2 tax books available on Amazon!
1001 Deductions 2021

You'll hear about important tax updates and other financial issues affecting small business owners, self-employed entrepreneurs, and more. 
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
Newly updated App
New eBook 2020
"Big Ideas for Recovering and Reimagining Your Small Business"
Providing ideas and resources you can use now to get your business up and running again and reimagine your business for increased success.