Braver » MC – Business Strategies

W-2 or 1099: What’s the Big Deal?

heather — Wed, 14 Mar 2012 20:16:55 +0000

It is a well-proven fact that jobs are a cornerstone of economic stability, whether on the national, state or local level. In addition, many metrics that measure the success of your business focus on employment levels; looking at job creation numbers, full-time equivalent staffing, and growth in payroll dollars, among other statistics. However, recent experience with Rhode Island small businesses has shown that uncertainty surrounding our local economy is causing business owners great reluctance in adding employees to their payroll. This is especially true amongst start-up ventures, where the ancillary costs of payroll taxes, workers compensation insurance, and other employee benefits cause significant impact beyond the level of wages paid. We are seeing more and more examples where potential employers are deciding to classify new “hires” as independent contractors, where the business can attempt to escape the burden of payroll taxes and benefits. This classification decision is one that comes with significant risks; one where incorrect reporting of these positions can quickly sink your venture.

Download the Full Article

by James D. Wilkinson, CPA/CITP

Posted on: March 14, 2012

Choice of Entity

heather — Wed, 01 Feb 2012 20:19:59 +0000

You’ve researched for hours, brainstormed for months, bounced ideas off family and friends and ran the numbers. You’re excited. You’re ready to launch your own business. Now what? Start with your plan, add advice from professionals, and sprinkle in some collaboration with your peers to lay the proper foundation for success your first year and many more to come. We hope that our monthly contributions in these pages will help you navigate your venture through its infancy and position yourself to realize the satisfaction and rewards of business ownership.

One decision you will face as a business owner is selecting the form of legal entity in which to conduct operations. While we’ll focus primarily on tax treatment in the discussion below, you’ll want input from a variety of perspectives – legal differences, insurance matters, investors and financing, etc. – so, be sure to get your team of advisors together when making this evaluation. Also, while this is an important decision, keep in mind that there is no one perfect entity type; so, if and when conditions change, your entity choice can be amended. Your goal is to make the most appropriate choice based on what you know today and conditions you expect over the next three to five years.

Download the Full Article

by James D. Wilkinson, CPA/CITP

Posted on: February 1, 2012

Seller Beware – States Expand Nexus Standard for Online Sellers

heather — Thu, 12 Jan 2012 16:11:19 +0000

We’ve all read that state treasuries continue to be hit hard by decreasing tax collections and pressure from increasing costs of services. Meanwhile, Internet sales continue to take a larger slice of the total retail sales market. Forrester Research predicts that online retail sales will grow to almost $250 billion in 2014, or 8 percent of total U.S. retail sales. In 2009 online sales amounted to $155 billion, or 6 percent of total U.S. retail sales.

With these two trends in place, none of us should be surprised that taxation of online sales is getting more and more attention in state legislatures around the country. What began in New York in 2008 has now escalated to half a dozen more states enacting laws to treat certain online sellers as taxable vendors. And at least another nine states have or will consider such legislation in 2011. This article will review the business arrangement that states are attacking, outline the provisions of the statues that most states are adopting, highlight new developments around this topic, and offer suggestions for how to advise clients that sell products online.

Download the Full Article

by Peter Harris, CPA

Posted on: January 12, 2012

How to Profit From Rep Groups

admin — Tue, 29 Sep 2009 23:07:46 +0000

Mike Nolan, managing director of Braver Business Strategies writes about the relationship between manufacturers and outside sales organizations in this month’s Manufacturing Advancement Center Action Newsline.

Posted on: September 29, 2009

Changing Workplace Demographics: T+B+Y+X = Opportunity

admin — Thu, 14 May 2009 18:10:04 +0000

“For the first time in history, there are four generations in the same workplace: Traditionalists, Baby Boomers, Gen X, and now, Millennials (or Gen Y).”

Posted on: May 14, 2009

Figuring out whether to take a buyout is tough, but answering a few questions can make it easier

admin — Sun, 15 Feb 2009 18:27:14 +0000

“With the economy in tatters, a growing number of people are being offered buyout packages by cash-strapped employers hoping to cut expenses without resorting to layoffs. ”

Posted on: February 15, 2009

Boards of Advisers: Good for Nonprofits, Too

admin — Thu, 20 Nov 2008 18:30:15 +0000

As finance committee member of the Kennedy Donovan Center and board member of the Arts and Business Council of Greater Boston Bob Poirier, Director at Braver has worked with non profit management socially and professionally. He offers up some the knowledge gleaned from these experiences in his article “Boards of Advisors: Good for Nonprofits, Too” published in November/December’s Issue of Advancing Philanthropy.

Posted on: November 20, 2008

Use your financial smarts when buying a business

admin — Fri, 31 Oct 2008 18:33:54 +0000

“Thinking of buying a business? Doing so can be a smart move because it’s generally less risky than building a company from scratch. Plus you’ll benefit from gaining experienced employees, existing facilities, ready-made operations, and established customer and supplier relationships.”

Posted on: October 31, 2008