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Will You Add? - How Any Business Owner Can Reduce The Likelihood of a Tax Penalty by 31 Times
Recently, a young lady complained to the Founder of an Online Think Tank about over regulation of small business, as she was a successful small businesswoman. She also said that the lawsuits were getting to be ridiculous citing many recent atheist lawsuits about such things as; Nativity Scenes in Public Parks and t
1 to 5 days late = 2% penalty
6 to 15 days late = 5% penalty
16 or more days late = 10% penalty
. . .plus interest.
It makes sense, doesn't it? If a task takes less time and energy to complete, you are more likel
You’ve seen a want ad for a job that seems to be the perfect fit for you. You really want to impress the employer, so you set out to write a cover letter that really sizzles. But, somehow, you can’t seem to find the right words. You’re not certain where the line can be drawn between recognizing your accomplishme
Here it is:
Small Biz Owner #1 is 31 times less likely to be penalized by the IRS than Small Biz Owner #2.
Hmmm. What gives? What is the difference between these two chaps?
It's simple, really.
Small Biz Owner #1 makes his federal tax payments electronically, using the government's Electronic Federal Tax Payment System (aka EFTPS).
Small Biz Owner #2 makes his federal tax payments manually, using good old paper 'n ink to write the check.
Not only that, but for his monthly payroll tax payments, Small Biz Owner #2 has to fill out the little coupon that comes in that little yellow coupon book (known as Form 8109), write out the check, and then take the time to visit his local bank and make the payment in person.
Because Small Biz Owner #2 is stuck in the rut of the manual check payment routine, he is 31 times more likely to get hit with a late-payment penalty.
And these late payment penalties are pretty steep:
1 to 5 days late = 2% penalty
6 to 15 days late = 5% penalty
16 or more days late = 10% penalty
. . .plus interest.
It makes sense, doesn't it? If a task takes less time and energy to complete, you are more likely
How to Evaluate MLM Products and ServicesThere is a short list of factors to look at before you decide to represent a product. I am going to first assume that you believe in the product and are enthusiastic about it. If you aren’t sold on the merits of the product or service, don’t go any further –
It's simple, really.
Small Biz Owner #1 makes his federal tax payments electronically, using the government's Electronic Federal Tax Payment System (aka EFTPS).
Small Biz Owner #2 makes his federal tax payments manually, using good old paper 'n ink to write the check.
Not only that, but for his monthly payroll tax payments, Small Biz Owner #2 has to fill out the little coupon that comes in that little yellow coupon book (known as Form 8109), write out the check, and then take the time to visit his local bank and make the payment in person.
Because Small Biz Owner #2 is stuck in the rut of the manual check payment routine, he is 31 times more likely to get hit with a late-payment penalty.
And these late payment penalties are pretty steep:
1 to 5 days late = 2% penalty
6 to 15 days late = 5% penalty
16 or more days late = 10% penalty
. . .plus interest.
It makes sense, doesn't it? If a task takes less time and energy to complete, you are more likel
Hiring the right person is not always an easy thing to do, but using the right method of interview will substantially aid the process. The more you know about interviewing, the more likely you are to hire the ideal candidate.Four key methods of interviewing are as follows:1. Directive interviews
Not only that, but for his monthly payroll tax payments, Small Biz Owner #2 has to fill out the little coupon that comes in that little yellow coupon book (known as Form 8109), write out the check, and then take the time to visit his local bank and make the payment in person.
Because Small Biz Owner #2 is stuck in the rut of the manual check payment routine, he is 31 times more likely to get hit with a late-payment penalty.
And these late payment penalties are pretty steep:
1 to 5 days late = 2% penalty
6 to 15 days late = 5% penalty
16 or more days late = 10% penalty
. . .plus interest.
It makes sense, doesn't it? If a task takes less time and energy to complete, you are more likel
Site promotion should be one of your highest priorities. After all, what is the point of having a killer site with no visitors? Whether your site is business-related or purely personal, site promotion is still the key to success.There are multiple ways to promote your site. Below are just a few great options
Because Small Biz Owner #2 is stuck in the rut of the manual check payment routine, he is 31 times more likely to get hit with a late-payment penalty.
And these late payment penalties are pretty steep:
1 to 5 days late = 2% penalty
6 to 15 days late = 5% penalty
16 or more days late = 10% penalty
. . .plus interest.
It makes sense, doesn't it? If a task takes less time and energy to complete, you are more likel
How owners and managers hurt employee performanceMost discussions of management and leadership talk about what to do to help people be their best. Here are six ways executives and entrepreneurs routinely do the opposite.1)They don't provide a vision for the company.Today, most
1 to 5 days late = 2% penalty
6 to 15 days late = 5% penalty
16 or more days late = 10% penalty
. . .plus interest.
It makes sense, doesn't it? If a task takes less time and energy to complete, you are more likely to do it on time.
And using EFTPS definitely is easier and faster than writing out a check and taking it to the bank.
You simply sit down and make a 5-minute phone call, or visit the IRS website and input a few numbers.
No fuss, no muss. And you can do it 24 hours a day, 365 days a year.
I know, I know. Change is painful. You like your routine.
My 3 children like to tell me how "old-fashioned" I am -- because of the clothes I wear or the music I listen to.
I hear it all the time: "You're so '20th century', Dad."
Well, I'm hear to tell you . . . making your tax payments with a manual check is soooo "20th century", man.
Get with the times and start using EFTPS.
Not only is it "hip, man" -- but it can also help you avoid a hefty late payment penalty.
One of my clients with a staff of 4 employees recently forgot to make one of his monthly federal payroll tax payments. During my quarterly review of his books, I informed him of the missing payment.
On a tax liability of just $
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