A monthly roundup of our top stories:

What Does an Improved Economy Mean for You?

The most recent NFIB Index of Small Business Optimism shows that the optimism of small business owners is at near record highs. Earnings trends were the highest in the monthly survey's history. The conclusion from the survey is that "the outlook [for the rest of the year] remains exceptionally positive." But the survey also reveals some challenges that small businesses face as the economy improves.

The Good, the Bad, and the Ugly about Getting Paid in Cryptocurrency

The financial markets are all abuzz about cryptocurrency. But as a small business, should you be accepting payment in this virtual currency? A growing number of companies, including a number of small businesses, accept Bitcoin; a list of them was last updated in March. There are certainly pros and cons to consider before you move ahead in this area.

Is This the End of the Gig Economy?

There are a lot of confusing statistics about the gig economy ... the realm of workers for Uber, TaskRabbit, Upwork, or themselves. According to a survey by Upwork, there were 57.3 million Americans freelancing in 2017, and that by 2027, more than half of American workers will be freelancing. But is that so? Will the gig economy continue to grow? Will it shrink? Will it disappear?

Sacrifices of Small Business Owners

TSheets by QuickBooks surveyed small business owners for National Small Business Week and found that they (and their families) make personal sacrifices in order to run their businesses. I've been a small business owner for more years than I care to share and I can relate to the survey results. In honor of National Small Business Week (April 29 through May 5), I'm listing some of the survey results here.

Take Credit for Giving Paid Medical Leave

Federal law doesn't make you pay employees who take family and medical leave. This is so even if you are required by the federal Family and Medical Leave Act to give up to 12 weeks of such leave time. (Businesses with fewer than 50 employees don't have to offer any leave time.) But if you choose to continue compensation to an employee who takes such leave, you likely are a hero to this employee's family and you can claim a new tax credit

Here's what you need to know about the credit so you can decide whether continuing pay to those on leave fits in your budget.

Watching the Clock

The old saying that timing is everything has great significance for your business. It governs performance deadlines, tax filings, statutes of limitations for bringing lawsuits, and more. Here are other reasons to watch the clock.

Fraud in Your Workplace

Inventory is short, money is missing from the till, or you're reimbursing an employee for bogus T&E costs. These are all examples of employee fraud. It's probably not a question of whether you experience it but rather how much employee fraud is costing your business.

A Bad Apple in Your Business?

Recently a physician in a good medical practice in my area was convicted of 5 counts of federal drug charges, and it got me to thinking about what this will do to his partners, who had nothing to do with these illegal drug activities. What does it mean to a small business when an owner or employee does something egregious ... embezzles, sexually harasses someone in the company, or the like ...and it goes public? Be prepared to handle this and other PR nightmares.

Getting Ready for Hurricane Season

If you're reading this from Seattle or Chicago, you probably think this information doesn't apply to you; you don't get hurricanes in your area. Well here in Florida, Hurricane Central, I can't ignore the fact that from June 1 through November 30 each year it's hurricane season. And the preparation for potential disaster from a hurricane applies with equal force to disasters that can occur in your area ... wildfires, tornadoes, mudslides, and in light of what's happened in Hawaii, volcano eruptions.

Superwoman: Just in the Comics or in Your Life?

DC Comics introduced the character of Superwoman in the 1940s. Since then she has come to be Superman's female counterpart, fighting evil and holding her own in the Justice League. The term "superwoman" was coined by author Marjorie Hansen Shaevitz in The Superwoman Syndrome to denote a woman who copes successfully with the demands of career, marriage, and motherhood.

Five Strategies for Winning at Working Solo

Eighty percent of all U.S. small businesses have no employeesDownload Adobe Reader to read this link content. The number of non-employee businesses is expected to grow in coming years, due in part to the expansion of the gig economy (e.g., Uber, TaskRabbit, Thumbtack) and favorable economic conditions. Being in business with no employees means you don't have to deal with payroll, minimum wage rules, and other employer-related responsibilities. But it doesn't mean you are relieved of all business-owner obligations. You must wear all the hats in your business and see that what needs to be done gets done. Here are five strategies you can use to make your business work - even though you don't have any employees working with you.

Hear My Recent R adio Conversation 

We're talking taxes, small business and the  new tax bill and more about what it means for small business.
GDPR Update and Big Ideas for Small Business, Inc. 

With the recent enforcement on May 25 of the  General Data Protection Regulation (GDPR), we're reminding all our subscribers of the Privacy and Security Policy for Big Ideas for Small Business, Inc.  
You'll find the entire policy on our web site here.

175plus Big Ideas 2018
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I'm honored and grateful for the ongoing recognition of my blog; recently included in the  Top 20 Global Small Business Blogs 2018

SMB Taxes 2018
J.K. Lasser's Small Business Taxes 2018: Your Complete Guide to a Better Bottom Line

This is the small business owner's ultimate guide to a money-saving, stress-free tax season and your year-round tax planning!
Get your copy from Amazon today! 

Note: The FREE, online Supplement to the book has been published on my web site here. It includes revisions made by the Tax Cuts and Jobs Act and other tax changes.


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June, 2018 | Copyright © Big Ideas for Small Business, Inc.