U.S. Small Business Administration - http://www.sba.gov/
The U.S. Small Business Administration (SBA) is an arm of the federal government which provides financial, technical, and management assistance to help Americans start, run, and grow their businesses. The WBC at Cornerstone Alliance is a partner organization of the U.S. Small Business Administration.
IRS Launches Campaign to Help New Small Businesses
The Internal Revenue Service has launched a year-long campaign to help educate new self-employed small business owners about federal tax responsibilities and about filing Schedule C, Profit or Loss from Business. “One of the biggest challenges faced by people starting out in business is understanding and meeting their tax filing requirements,” said Kathy Petronchak, commissioner of the IRS’s Small Business/Self-Employed operating division. “It’s a new, different and potentially overwhelming experience for them. We want new small business owners to know that the IRS has resources to help them learn about their federal tax responsibilities and avoid common pitfalls.”The campaign will provide new Schedule C, Profit or Loss from Business, filers with improved and updated educational materials through a variety of channels, including IRS.gov, small business workshops and other outreach events.Schedule C is filed by sole proprietors (one-owner businesses) as an attachment to their Form 1040 individual income tax return. Self-employed individuals with less complex situations – including business expenses of less than $5,000, no net losses and no employees – may be able to file Schedule C-EZ, Net Profit for Business.About one in seven federal income tax returns includes a Schedule C or Schedule C-EZ. Taxpayers filed over 21 million Schedules C for tax year 2006, reporting overall net profits from sole proprietorships totaling more than $269 billion.In this introductory phase of the campaign, IRS is offering some basic tips to avoid potential problems:- Classify workers properly as employees or independent contractors as determined by law, not the choice of the worker or business owner;
- Deposit federal employment taxes, called trust fund taxes, according to the appropriate schedule;
- Start making quarterly estimated quarterly payments to cover your own income tax and social security self-employment tax liability;
- Keep good records to protect your personal and financial investment and to make tax filing easier;
- Consider a tax professional to help you with Schedule C;
- File and pay your taxes electronically; it’s fast, easy, and secure;
- Protect financial and tax records to ensure business continuity in the event of a disaster; and
- Avoid abusive tax avoidance schemes such as the IRS’s 2008 “ Dirty Dozen."
The first event in the campaign is a free national phone forum (http://www.irs.gov/businesses/small/article/0,,id=166814,00.html), “Calling All First Time Schedule C Filers, on May 21. It will focus on common pitfalls for new small businesses to avoid. To get the latest information about other events and learn about new products and services as they become available, start a FREE subscription to e-News for Small Businesses; just go to IRS.gov at http://www.irs.gov/businesses/small/content/0,,id=154826,00.html, type in your e-mail address and submit.
Michigan Women's Marketplace - http://www.miwomen.com/
The Michigan Women's Marketplace is Michigan's premier online resource and business community for women business owners, providing a free, comprehensive Women's Business Directory and statewide Events Calendar.
The SBA online Women's Business Center - http://www.onlinewbc.gov/
The Office of Women Business Ownership promotes the growth of women-owned businesses through programs that address business training and technical assistance, and provide access to credit and capital, federal contracts, and international trade opportunities.
Michigan Small Business Technological Development Center (MI-SBTDC) - http://www.misbtdc.org/
The Michigan SBTDC strives to enhance Michigan's economic well being by providing counseling, training, research, and advocacy for new ventures, existing small businesses and innovative technology companies.
Michigan's Web Site on Starting an Online Business - www.michigan.gov/businessstartup
This website includes the Online Startup Wizard, a new interactive tool to guide users through completing forms needed to start their business.
Michigan Women's Foundation (MWF) - http://www.miwf.org/
The Michigan Women's Foundation promotes economic self-sufficiency and personal well-being for women and girls to improve their lives and change the future. MWF does this by providing assistance and funds to nonprofit organizations serving women and girls; by educating the general public policy makers and donors; and by encouraging women and girls to exercise their responsibilities as philanthropists.
My Own Business - http://www.myownbusiness.org/
12 Sessions covering key business topics. The course has been carefully created and is continually updated to cover twelve of the most important topics for anyone starting a business. Most people fail in business because they make avoidable mistakes! The course teaches you what those mistakes are and how to avoid them.
Women's Business Enterprise National Council (WBENC) - http://www.wbenc.org/
The Women's Business Enterprise National Council (WBENC), founded in 1997, is the nation's leading advocate of women-owned businesses as suppliers to America's corporations. It also is the largest third-party certifier of businesses owned and operated by women in the United States.