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~Archives~
Wednesday, September 5, 2007

~Credits~

Understanding Employee Taxes
Employee taxes can be one of the most difficult to understand areas of running a business and hiring employees. If you don't understand all of the complexities involving employee payroll tax, it can also get you into a heap of trouble.
The first employee tax factor you should understand is what taxes you are responsible for as an employer. There are three employee taxes that you will be responsible for paying.
The first is Medicare and Social Security tax. This is often referred to as FICA and provides welfare benefits funding for senior citizens. As an employer you are responsible for paying half of the FICA taxes and withholdings for your employee while the remaining half is withheld from their paycheck.
You are also responsible for paying federal unemployment tax. This tax funds the state unemployment benefits and the administrative costs associated with those benefits. It is important for you to know that you must pay federal unemployment tax on the first $7000 earned by each person you employ during the calendar year.
In addition to federal unemployment tax, you must also pay state unemployment tax. These taxes are based on the location and size of your business as well as the number of employees you employ. Due to the fact that each state operates its own unemployment program, these rates do tend to vary; so it's best if you check with your own state's unemployment division for specific details.
In addition to the taxes you must pay as an employer, you are also responsible for withholding employee tax. Even though this is the employee's contribution, it is your responsibility to handle the employee tax withholding. You will need to pay close attention to the employee tax form, or W-4, completed by the employee in order to know exactly how much money you need to deduct from the employee's paycheck. Usually the amount of money you must withhold will depend on the number of withholding allowances claimed by the employee, their marital status and any exemption from withholding taxes that the employee might claim.
It is very important that you stay on top of your employee's tax forms because they have the right to change them by submitting a new W-4. If an employee submits a new employee tax form, thereby changing the amount of their withholding and you fail to deduct the correct amount of money, you could be subject to penalties by the IRS.
You will need to deposit both the taxes that you are responsible for paying along with the employee tax withholdings in an authorized depository for Federal taxes. You can do this by either mailing or delivering your check or money order. These taxes will be due either semi-weekly or monthly. Your employee tax withholding due dates will be determined by the size of your payroll, dictated by the schedule. Usually, however; if your payroll is less than $2,500 every three months, you can file quarterly. If your employee taxes are larger, you'll need to file more often.
In addition to the employee taxes named above, recently there has been much discussion in the media regarding a proposed employee health tax. If instituted this tax would impose a $3000 tax on employers for each employee who is not covered by health insurance. The intend of the proposed bill is to force employers to cover more employees by health insurance; however critics of the bill claim that the proposed employee health care tax will only lead to more unemployment.

About The Author:
Matt Bacak became "#1 Best Selling Author" in just a few short hours.
Recent Entrepreneur Magazine's e-Biz radio show host is
turning Authors, Speakers, and Experts into Overnight Success Stories.
Discover The Secrets http://promotingtips.com


How To Setup Your Own Article Directory And Get Flooded With Sales, Leads & Adsense Income
Its hardly a secret anymore. Creating articles and submitting them to article directories is now recognised as efficient, main stream marketing.
Thousands of smart marketers actively seek out directories and submit to them daily as part of their marketing plan. Flip open any generic internet marketing book and you'll see entire chapters on promoting via article submissions. In fact entire eBooks, courses and software have been developed to help harness the power of article marketing.
Now here's the interesting thing. Everyone who uses articles hungrily seeks out new article directories to submit to. Most internet marketing sites have a list of directories on their site to help their users identify available article directories.
Imagine- thousands of people searching for article directories. Countless more searching for content to populate their websites with. Yet the number of article directories online remains relatively small. Right now is the ideal time to set up an article directory for yourself.
Here are just a few ways that this can benefit your business:
* Literally tens of thousands of influential site owners are looking for valuable content that they can use for their sites. It's gold-dust to them. Similarly, several thousands of marketers, authors, resellers and affiliates are hungrily looking for article directories to submit to. Both are desperate to find, use and return to your article directory...again and again (and again)!
* Your directory site could have Adsense and other affiliate ads and create a nice hands off residual income.
* You can capture the prospects as leads(eg. Contributers need to register before posting articles) to build your list.
* You can create special highly targeted niche article directories. You could put up highly targeted big-ticket affiliate products that can increase your commission checks significantly. If you already have an in-house product you can promote it directly on your directory to prospects that you know will be interested in the offer.
* You could even create and sell directories as a business in itself. When you have the correct script it's very simple to do, yet one simple directory can fetch hundreds of dollars when sold to a small business or entrepreneur who may not want to learn to do it themselves.
If you think that setting up your own article directory involves extreme expense in hiring a programmer or special technical skills to do it yourself, you may be pleasantly surprised. You can use point and click software to get your directory up and running in just minutes.
Now we'll look at the art of marketing the article directories that you create. The good thing is that because directories are in such demand this should not be particularly difficult. Here are just some of the ways you can publicise your directory:
* Participate in relevant forums and leave your article directory details in your signature. This is also a great way of getting exposure for your main business too.
* Contact influential personalities in your niche and inform them that you have a new article directory that they (and their prospects) may find interesting.
* Find "article directory directories" and submit to these – they will give you exposure to thousands of people who are searching for specific directories.
* Use your own traffic resources – let your list/blog/forum know that you have a new directory.
* You should already know that building a successful business online means cultivating relationships online. Hopefully you will have built up a select few JV partners who you are on exceptionally good terms with. Ask them to post a few articles to get your directory going.
One thing is clear- using article submissions as a marketing tactic is a long term trend that will be around long into the future. So is using contents of articles to populate website. Everyone wants to be where the traffic is – that's exactly why the next big trend that the gurus will tout as a marketing gem is article directory ownership – and they would be dead right.
There are huge gains to be made by establishing your directory now long before anyone finds out what a gold mine they represent.
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Understanding Financial Statements
The value of the accurate financial statements generated is undisputed. This is as financial statements are like windows into the health of a company. Just by viewing financial statements, adept business owners will be able to determine the strengths and weaknesses at the time that the statement was generated. With this, the owner can then chart the way into the future for the company, by addressing the weaknesses and capitalizing on the strengths that the company has.
The two main financial statements within any company are the balance sheet and the Profit and Loss statements. The balance sheet provides anyone with a snapshot of the assets and liabilities within a company at any one point in time. This essentially means that the balance sheet shows what the company has and how much they own others. Apart from that, the equation asset = liabilities + capital always holds true within a balance sheet. The liabilities and capital sections indicate the sources of funds for the company while the assets indicate how the company uses the funds that it has. Most importantly, the liability and capital sections indicate money owed to creditors as well as invested amount. If you look closely, you will realize that both of these are obligations of the company that need to be paid.
By analyzing financial ratios that are generated by numbers on a balance sheet, a business owner is able to tell how well the company collects their accounts receivables, how fast the inventory is moving out and replenished, as well as how much exposure the company has towards debt.
The typical company balance sheet will consist of fixed assets and current assets such cash, account receivables, inventory and note receivables. Current assets comprise of assets that can be liquidated fairly quickly and easily in order to be turned into cash. On the other hand, fixed assets are amortized over an extended period of time and are not so easily sold to recover cash.
On the liability section, fixed liabilities include long-term debt of usually more than 12 months of age or contingent liabilities. The current liabilities however are represented by mainly accounts payable and notes payable as well as short term loans. If there is inadequate cash within the company, current liabilities have the ability to drag the company down.
The final element of the balance sheet, the Equity is the amount of capital financing that has been injected into the company. With this, the owner's investment into the business is shown in the balance sheet.
The Profit and Loss statement is used to determine if a company is making a profit or a loss within a specified operations period. The revenue obtained in a period is stated in this statement, and all direct and indirect costs incurred are deducted from the revenue. With this, the profit for that period is obtained, where profits are compared with the previous year's performance level. Profits with which taxation has not yet been accounted for are known as gross debt, while net profits are debt in which all costs have been deducted from.
In conclusion, being able to read financial statements is an advantage for any business owner. Interpreting financial statements are ever important in business, as it allows for the owner to take action before things become worse. By reading financial ratios, a business owner will know what needs to be done before the situation of the company changes. Alternatively, reading financial ratios will also help the business owner plan for the future, by incorporating the leverage on existing strengths of the company.

About The Author:
Matt Bacak became "#1 Best Selling Author" in just a few short hours.
Recent Entrepreneur Magazine's e-Biz radio show host is
turning Authors, Speakers, and Experts into Overnight Success Stories.
Discover The Secrets http://promotingtips.com