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Sales Success Inspiration - Hello my friends and welcome to another installment of The Special Sauce Series on Sales.

Sales Success Inspiration is the name of the game today.  We left off with the last post "

No Sales! The Leads Suck! After ten years in the industry I have heard this more than once. In fact, I hear this so often that a series of educational blog posts are needed to educate sellers on how to close more deals - period.

No sales! Now, first I preface this entire post with one thought...

She Means Business: Turn Your Ideas into Reality and Become a Wildly Successful Entrepreneur Is our Book-of-the-Month.

Carrie Green began her entrepreneurial life at the tender age of 20, starting a company that would go global in just a few years. She has turned her experience...

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Resource Center > Article
2012-13 Fiscal Cliff Deal Tax Incentives for Business Opportunity and Other Small Business Owners
8 Jan 13 Posted by: Kathleen C Lanza
in Growth & Profit
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Okay, so now that the dust has settled on the most recent fiscal cliff crisis, it’s time to take stock of what it all means for small business owners, especially given that there was so much attention paid to the impact that actually going over the cliff would have had on them specifically. While the details of the deal are somewhat complex and parts of it will undoubtedly have a negative impact on some, there were a number of bright spots in the solution recently agreed upon by the President and the Congress.


Known as the American Taxpayer Relief Act of 2012 (ATRA) and signed into law by the President on January 2, the law averts the scheduled income tax rate increases and spending reductions required by the Budget Control Act of 2011. As such and according to the U.S. Small Business Administration (SBA), more than 98 percent of Americans and 97 percent of small business owners will not see their income taxes go up this year. Additionally, the law includes a number of tax incentive extensions, all preserved in an effort to encourage innovation, support capital investment and make hiring a more attractive proposition.

Here’s a quick review of the ones that matter most:

Research and Development (R&D) Tax Credit: Often recognized as the most important tax credit for small- and medium-sized business owners (SMBs), the credit has been extended through 2013 and made retroactive for 2012. While not permanent at this point (a flash point of contention for many), it represents a tax break of anywhere from 6 to 14 percent of R&D expenditures for many SMBs.

Section 179 Expenses: Another popular provision, Section 179 allows small companies to fully expense certain investments—qualified new/used equipment, for example—in just one year rather than depreciating and expensing it over time. It extends the half-million-dollar limit for both 2012 and 2013 for companies with less than $2 million in qualifying capital expenditures.

Work Opportunity Tax Credits: Employers who hire military veterans or individuals from certain disadvantaged populations that are now facing barriers to employment will continue to receive tax credits through 2013.

Bonus Depreciation: Certain qualified SMB investments have warranted a 50%-or-more depreciation write-off in the first year, which was set to expire at the end of 2012. That provision has now been extended through 2013 and even through 2014 for certain types of property.

Other incentives of note for home-based and other business opportunity, franchise, licensee opportunity, distributorship and SMBs of all kinds that have been preserved moving into the next tax year include: 1) Built-in gains tax, which affects companies converting to an S-corporation; 2) Adjustment to charitable S-corporation stock, 2) Enhanced charitable deductions for contribution of “apparently wholesome food” inventory; 3) Temporary exclusion of 100 percent of gain on small-business stock; and 4) Fifteen-year depreciation for qualified improvements to leasehold, retail or restaurant property.

For more information on paying your SMB taxes for 2012, go to the IRS Website now!

 

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SocialXpand Business Opportunity Interview w/ Brian Weiss was for me a new way to learn from a customer and whom I consider a friend in the industry.

I've had the opportunity to work for a while now with Brian Weiss who is the Director of Sales for the
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