A Low-Cost Alternative to Health Insurance [Medi-Share Review]

Joining the Christian medical expense sharing community, Medi-Share, for around $300/month has been a fantastic financial move for my family. Prior to joining this healthcare expense-sharing community, I was paying $1,100 per month for a health insurance plan with Humana! Medi-Share is not insurance (nor is it charity as you'll see). But it's a great alternative for some. And even without the Obamacare mandate, this alternative will … [Read more...]

The Ultimate Guide to Payroll for Small Business Owners

  Has your business grown to the point that it's time to hire help? On one hand, that's great news. But, on the other hand, payroll for small business owners adds another layer of complexity to the act of running your business. Most small business owners don't have a background in HR, accounting, or bookkeeping. So how can you set up a payroll system that keeps you on the good side of the IRS without consuming too much of … [Read more...]

Best and Worst Ways to Spend Your Stimulus Check as a Business Owner

On March 27th, President Trump signed the CARES Act into law. It provides over $2.2 trillion of financial relief for individuals and business owners who are reeling from coronavirus shutdowns. The CARES Act is a sweeping piece of legislation that introduces a wide range of economic relief programs. But it also instructs the Treasury Department to send direct payments to United States citizens. Each eligible citizen will receive a … [Read more...]

Expecting a Stimulus Check? Here’s What You Need To Know

Fast FAQs About Stimulus Checks (i.e. Economic Impact Payments): Up to $1,200 for individuals or $2,400 for married couples and up to $500 for each qualifying child Based on 2019 or 2018 data, depending on when you file your 2019 return Deposit payments will begin to roll out on April 9th, with checks being issued April 24th Self-employed individuals should look beyond the stimulus payment at other CARES Act benefits [Read more...]

How to Get Unemployment Pay if You’re Self-Employed (Including Gig Workers and Freelancers)

Normally, there’s no unemployment for self-employed individuals. But with the unprecedented impact COVID-19 is having on the economy, the federal government has passed legislation to provide relief for small businesses and independent workers. With its passage, unemployment benefits are now expanded to cover the self-employed and gig workers like Uber drivers, freelancers, and Airbnb hosts. Under the CARES Act, unemployment … [Read more...]

The Paycheck Protection Program (PPP) – What We Know & Where to Apply

If you're like me and you run a small business, you could qualify for the Paycheck Protection Program (PPP). This looks to be a promising opportunity for small business owners and the self-employed to recoup some of the damages inflicted by the economic and social effects of COVID-19 and the subsequent government response. The PPP will allow you to continue to pay yourself, your employees, and possibly your independent … [Read more...]

SBA Loans: Everything You Need to Know

Notice: For COVID-19 related SBA loan information, see our coverage of the Paycheck Protection Program (PPP). Or for more coronavirus (COVID-19) SBA resources, skip to the bottom where we discuss the EIDL and SBA Debt Relief Programs. If you need funding for your small business, it's hard to beat SBA loans. They come with favorable terms and may be easier to qualify for than other business loans. But as with any … [Read more...]

Self Employed? Here’s Everything You Need to Know About Disability Insurance

  According to the Council for Disability Awareness (CDA), "over one in four of today’s 20-year-olds will become disabled before they retire" and the average length of disability is a frighteningly long 31.2 months. These statistics reflect the fact that illness, rather than injury, is the leading cause of long-term absence from work, accounting for 90% of all disability claims. And even the most safety-conscious among us … [Read more...]

Do You Need Insurance For Your Internet Business?

Killer internet business idea: check. Business plan: check. Domain name: check. Customer base: check. Insurance: ch…wait, what? For many internet business owners, internet business insurance is not one of their first (or even fifth) concerns. While no traditional small business owner--with stock to lose, a storefront to maintain, and payroll to meet--would consider operating without insurance, many internet startups do just … [Read more...]

Get the Most from Your 2020 Mileage Tax Deduction

Do you drive for your job or business? Then you might be eligible for a mileage deduction. Here is an easy-to-understand guide to the IRS standard mileage deduction. Happy filing! In 2020, you can deduct 57.5 cents per mile driven for business. If you drive a lot, either for your business or for an employer that doesn't reimburse your expenses, then keeping careful track of your miles will give you the biggest tax deduction. Hurdlr … [Read more...]

Small Business Bookkeeping is a Breeze with Bench

  I have been freelancing for close to a decade, which includes handling my own small business bookkeeping. Since I have no background in accounting, learning how to manage my books was not easy. And frankly, handling my own books is not my favorite part of my business. Not only does bookkeeping take time away from the income-generating work of pitching, researching, and writing articles, but I always have a nagging worry that … [Read more...]

Get Free Personal and Business Credit Scores at Nav.com

  Learning more about your business credit is not as simple as it is for your personal credit. It's a totally different system for business credit and there are fewer services available for checking it. Thankfully, Nav.com has come along to help small business owners (and individuals) better understand their credit. As you'll see, Nav has premium offerings to consider, but even their basic service allows you to check your … [Read more...]