Top Five 2014 Tax Trends That May Be Headed Your Way |  |
- Top Five 2014 Tax Trends That May Be Headed Your Way
- Square Absorbs Viewfinder Team
- Get Caught “Speeding” with the New iPhone 5S
- Applebee’s Plans Tableside Tablets
- A Blazing Fast Internet Connection May Make or Break Your Next Deal
| Top Five 2014 Tax Trends That May Be Headed Your Way Posted: 11 Dec 2013 04:00 PM PST
The government shutdown and the Obamacare rollout debacle, both of which have significant tax implications, dominated the news in 2013. Looking ahead, some tax issues are certain while others are not. Below is what I see for the coming year. 2014 Tax Trends1. Uncertainty About Tax ReformAs a result of the American Taxpayer Relief Act, which became law at the start of 2013, tax rules for 2013 were fixed and certain. The same cannot be said for 2014. It's been 27 years since there's been a new Tax Code, and promises of big tax reform were made in 2013. For example, Senator Baucus circulated a tax reform proposal. Likely the talk will escalate in the coming year. Some of the proposed changes being discussed are:
2. Less IRS ServiceThe terms "IRS" and "service" usually aren't used in the same sentence. However, expect things to get worse. Besides its traditional role as tax collector, the IRS is charged with significant responsibility for Obamacare, from collecting the penalty that individuals without minimum essential coverage in 2014 will owe and other healthcare-related tax rules. The 2012 Annual Report to Congress by the National Taxpayer Advocate designated the: “…significant and persistent underfunding of the IRS as the #3 most serious problem facing taxpayers.” After tax complexity, #1, that was not fixed and the alternative minimum tax, #2, which was fixed. Underfunding likely will continue in the face of budgetary concerns. 3. Identity Theft Continues to EscalateIdentity theft tops the IRS's list of scams for 2013. Likely this will be the same in 2014, as identity thieves continue to find easy pickings from the IRS. This could be exacerbated through security leaks on the Health Care Exchanges. Business owners should guard their personal and business information more closely than ever. Bring in security experts to help. Independent contractors might want to use an employer identification number rather than their Social Security number when completing Forms W-9 for their projects or jobs. 4. Supreme Court Will Settle the Question on FICA and Severance PayWhen businesses lay off employees, they may offer a severance package of cash payments, continuing health coverage, and other benefits. Courts have been split over whether FICA taxes are owed on taxable benefits. The Supreme Court will decide by June 2014 whether FICA taxes apply to payments of certain severance pay. 5. Some Things Never ChangeThe IRS continues to pursue certain tax issues vigilantly, including:
Likely examinations for these issues will continue unabated in 2014. Being forewarned is forearmed. Businesses can work with tax advisors to make sure they're in compliance with tax rules. ConclusionThe IRS still needs a commissioner. John Koskinen has been nominated and is awaiting confirmation. When he becomes the new commissioner, who knows what direction the agency will take? Then there are the mid-term elections in November, which could reshape the Congress for 2015. Combine these two factors with uncertainty about the economy and possible tax reform, and there's a recipe for significant tax upheaval in 2014. Treasury Department Photo via Shutterstock The post Top Five 2014 Tax Trends That May Be Headed Your Way appeared first on Small Business Trends. |
| Square Absorbs Viewfinder Team Posted: 11 Dec 2013 01:30 PM PST
Entrepreneurs must sometimes think as strategically when acquiring talent as they do when figuring out what software or other technology to invest in. Here’s one example to consider when looking at talent acquisition for your own business. Square, the company responsible for the handheld credit card reader, is taking on engineers from another tech startup. Square has apparently absorbed the team of photo sharing app Viewfinder. Adding to the TeamSquare’s takeover seems to be of the acqui-hire variety, TechCrunch reports. This means Square is probably less interested in the Viewfinder app itself than in hiring on some of the talent behind that app. Two members of that team, Spencer Kimball and Peter Mattis, are also known for creating the popular open source image manipulation program GIMP. Kimball and Mattis are former Google employees who will become part of Square’s senior management team. Focus on New Square FeaturesThe newly acquired talent may be put to work developing the company’s recently launched Square Market. The site is a new venture which aims to give free eCommerce stores to all Square users. In an announcement on the official Square Engineering Blog, CTO Bob Lee wrote:
Lee will only say that members of the viewfinder team will be working on “seller initiatives out of our New York office.” A post on the official Viewfinder Blog noted:
While the results of the Viewfinder team’s efforts will almost certainly be of importance to small and medium sized businesses already using Square, there are other lessons here. Acquiring the Right TalentFinding talent can be a tricky business and often starting with professionals whose work you admire can be a good first step. It’s also a good idea to be sure that new talent will fit your company culture as well. It may be a good idea to ask for recommendations from your existing team. (According to Lee’s post, he, Mattis and Kimball are all close associates going back to their Google days.) The results can often be better than simply reading through a stack of resumes. Image: Viewfinder The post Square Absorbs Viewfinder Team appeared first on Small Business Trends. |
| Get Caught “Speeding” with the New iPhone 5S Posted: 11 Dec 2013 11:00 AM PST
What's not to like about this new hypersonic iPhone 5S? When you look at it across the room, you won't see any difference between the 5S and the 5 (its predecessor). But when you start using it, you will see a difference and you will be amazed. Powerful and fast is the name of the game in this iPhone 5S product review. Yes, everything is where it was on older models, but that makes for a nearly non-existent learning curve. No-contract cell phone company Aio Wireless provided a loaner phone for me, so a special thanks to their team. Even with the new iOS7, you will be able to navigate on a system very similar to your old phone. You will, however, notice that you have many new wallpapers, fonts, colors, graphics, icons, etc. to use. There is also a new Control Center that will help adjust your settings and get you where you need to go quickly without toggling through several different settings menus. All in all, it doesn’t change the way you use the core apps for business. Some Technical Specs for the iPhone 5SThe iPhone 5S is the first smartphone to incorporate 64-bit architecture with the new iOS7 designed to accompany it, of course. The A7 processor is coupled with an M7 co-processor to make it super-fast. The A7 is reportedly two times faster than the A6. It is so fast that Apple says it offers you the equivalent of a processor found on gaming computers. These two processors allow the 5S to push major functions, the background grunt work to the M7 chip. This leaves the A7 processor free for anything you need it to do from taking pictures to running one of the new apps that come with the phone. What I Really Like:The Fingerprint Scanner Most intriguing is the fingerprint scanner. The phone can learn up to five thumbprints or fingerprints in minutes. It takes multiple scans of the selected finger at different angles. The scanner is incorporated directly into the power button, but you still have slide-to-unlock and password features.
The password is a backup in case the scanner can't read your print, the phone has been rebooted, or it has remained inactive for 48 hours or more. The fingerprint scanner also allows you to purchase iStore items without typing in your password. The Camera Another improvement over the iPhone 5 is the camera. Both the iSight rear camera and the FaceTime HD front-facing camera now take better pictures in low light than what they used to be able to do. When it comes to movies, the FaceTime camera has a cool new feature. In addition to producing video at 120 fps (frames per second), but also you can record your film and choose which parts of it you want to have in slow motion. Mission critical – no – but fun. Battery Life Here’s the major improvement for business users – battery life. The iPhone 5S does a terrific job of conserving battery power. Not only do the dual processors help reduce the load on the battery, but the battery itself has increased in capacity by an estimated 10%. What I'd Like to See:It is hard to find the negatives with this phone. Stylistically, there are only three metallic colors to choose from which are supposedly more scratch resistant. The slow-motion footage will only stay that way if you directly upload it to YouTube, but disappears if you route it through your computer. And, the Control Center isn't customizable. The iPhone 5S (and 5C) have been out for a couple of months now, but I decided to wait before testing it out. If you are already an Apple fan, then you were sold when it launched. But if you’ve been on the fence of iPhone vs. Android, the iPhone 5S is a powerful phone and device. The screen is smaller than many Android-based phones, but the app store and the iOS ecosystem more than make up for it. There are still many great applications that are iOS only. iPhones are elegant, rock solid and you rarely, if ever, hear horror stories with Apple customer service. If you have not walked into an Apple Store, you are missing out on what retail can be – when done right. Are you using this powerful new phone in your business? Images: Apple The post Get Caught “Speeding” with the New iPhone 5S appeared first on Small Business Trends. |
| Applebee’s Plans Tableside Tablets Posted: 11 Dec 2013 08:00 AM PST
If you thought tablets were just for business application, think again. A recent move by one large restaurant chain suggests they’ll soon be important for customers too. Applebee’s restaurants plan to install an estimated 100,000 tableside tablets in every one of the chain’s 1,800 U.S. locations by the end of 2014. Owners and operators of small neighborhood bistros and family owned diners, take note. This move by a major restaurant brand might be worth examining by even the least technologically adventurous. Flexible PaymentApplebee’s was apparently motivated at first by a goal to improve efficiency. In an official announcement, Applebee’s President Mike Archer explained:
Now, the company is expecting tablets to revolutionize the dine-out experience for millions of its customers. The new technology will allow patrons to make changes and additions to their orders, pay via tablet instead of waiting for their checks, and even play some games and access social media while they’re waiting for their food. Applebee’s says the tablets being installed are E la Carte Presto devices running on an Intel processor. The specially-designed tablets are built with an attached credit card reader and a battery that allows them to run all day long so there’s no need to shut one down to recharge its battery. Better Customer EngagementThough restaurant chains like McDonald’s are already experimenting with mobile technology as a way to improve customer service, Applebee’s latest move may do much more. By giving customers the ability to change or update orders, the restaurants have found a way to be more responsive. And by providing social media access, Applebee’s is encourage more social engagement around its brand as well. In the end, many customers will be bringing their own mobile media devices to the dining experience. But providing customers with these devices gives restaurants, and perhaps other businesses, an even better chance to engage. Applebee’s Photo via Shutterstock The post Applebee’s Plans Tableside Tablets appeared first on Small Business Trends. |
| A Blazing Fast Internet Connection May Make or Break Your Next Deal Posted: 11 Dec 2013 05:00 AM PST Sponsored Post
This is the scene.You have spent days if not weeks on this bid. This could be your moment! Yours is a relatively new small business, you have been working hard and getting by, but it would be nice if there could just be a little breathing room for a change. And now, that opportunity has come along. The client is in from out of town to meet with you and if you can win his or her heart and mind it will be a life changer. But everything has to be just perfect. The office is clean. The staff is impeccably dressed. Your presentation is ready, just need your laptop to cooperate and the Internet connection to work so you can show off your wares. Introductions all around, you sit down, start to chat. . .open a browser window (your anxiety level is already high, while you think to yourself, “please work!”) and you see that infernal hourglass sign showing it's taking time to load. Oh yes, everyone is trying to work using that same Internet connection. Office employees and remote employees all trying to get in our network-to-cloud resources to do their job, leaving us with a slow Internet connection. Time is MoneyIn business, time is money – and presentation is everything. If you are trying to impress, you cannot show weakness in areas of importance and your Internet connection is high on that list. Bandwidth has never been more affordable in large quantities as it is today. A solid, fast Internet connection shows strength and knowledge to today’s business professional. Your visitors will almost certainly use your guest Internet access and they WILL get a sense of how important your guests are when they make that connection. The bare minimum you can offer shows frugality in matters of importance. Frugality has its place, but it's not in your best interest to appear as though you cannot afford something integral to your business. Like it or not, to do business you need to show a semblance of success, especially if you hope to land the bigger deals. Minor details in your mind could, in the client's mind, mean risk. One iota of doubt is a game changer. If your visitor can't do something as simple as use your Internet connection, to them it may mean operational weakness. The True Cost of a Fast Internet ConnectionHow much does an increase in bandwidth cost? Your mind likely went to the dollar amount you get charged by the provider. Right? But what is it costing you in terms of staff productivity? If you agree that time is money, then you can’t ignore this fact. A slow Internet connection is COSTING you money. If your employee has to sit and wait because a Web based application is slower than it should be, then you are trading time for money. Your also killing team morale if your employees cannot be efficient because of access issues they cannot control. How do you feel when you can’t get something done, or you know that the process will take considerably longer than it should and the problem could be fixed but it's out of your hands? Poor morale slows productivity, thus costing you money. Productive workers, on the other hand, are efficient workers. Good employees want to get things done. When the tools they work with on a daily basis do what they are supposed to do with less or no restrictions, morale is boosted. Increased production, less time required, more profits. And its much easier to sell a happy team to a client. In today’s technologically advanced world, with all of these devices and the expectation of guest WiFi access, and our lack of desire to wait, it is very important to make sure you have the Internet connection that doesn’t just handle your needs, but far exceeds it. Fiscally, it just makes sense. So How Do You Decide How Much of an Increase You Need?Many providers measure such things as data usage and bandwidth throughput. The usage is not the important part (unless you're paying based on usage and not pipe size). You could check with your provider to get their recommendations based on measurements they may be taking. I personally believe you want a pipe that is at least twice that of your average throughput. That is, if you're already showing signs of slow speeds, you should consider doubling it. The goal here is to be sure that at full capacity, you still have plenty of available bandwidth for guests and those moments where usage may spike. Fast Connection Photo via Shutterstock The post A Blazing Fast Internet Connection May Make or Break Your Next Deal appeared first on Small Business Trends. |
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