Author Topic: request ideas for small business blog topics (Read 760 times)

1KPerDay · « **on:** June 05, 2020, 12:02:59 PM »

pleez

Vulcanbill · « **Reply #1 on:** June 05, 2020, 12:43:29 PM »

The difference between a 401K and a simple IRA.

viffergyrl · « **Reply #2 on:** June 05, 2020, 01:27:33 PM »

Quote from: Vulcanbill on June 05, 2020, 12:43:29 PM

The difference between a 401K and a simple IRA.

...and a Keogh plan

coho · « **Reply #3 on:** June 05, 2020, 01:31:02 PM »

How To Delegate
An important, though frequently lacking skill for the small business owner.

Skee · « **Reply #4 on:** June 05, 2020, 01:46:34 PM »

True that! While there is a plethora of info available, I've run into several small independents who simply do not understand small business retirement plans, e.g. SEP IRA, Simple IRA, self-employed 401(k), etc. Each has different advantages depending upon how your business is structured.

Another might be how to self-incorporate as an LLC in a particular state. While there is a lot of information on the advantages of doing so, I've seen very little about how to actually go about doing it (besides call my law firm & I'll take care of it for a modest fee).

Insurance requirements and recommendations might be another.

The importance of having a web page that drives traffic to your business.

However, while the interweb is full of info on these topics, if you are looking for something unique, I'm dead out of fresh ideas.

1KPerDay · « **Reply #5 on:** June 05, 2020, 03:24:39 PM »

Thanks. Some of the above I've already done but there's some fresh stuff there. Keep them coming!

CLAY · « **Reply #6 on:** June 05, 2020, 07:44:27 PM »

Something we've just gone through and figured out:

How to protect a family farm (or other small business) and pass it on to the next generation without losing it all in the case of long-term nursing care or other issue.

melville · « **Reply #7 on:** June 06, 2020, 07:46:33 AM »

Quote from: CLAY on June 05, 2020, 07:44:27 PM

Something we've just gone through and figured out:

How to protect a family farm (or other small business) and pass it on to the next generation without losing it all in the case of long-term nursing care or other issue.

Self canceling note. The heirs (kids) buy out the parents on a long term installment note. When the parents kick off, the kids inherit the note. Who do they owe the money to? Themselves. What assets do the parents have in the nursing home? A long term note. "Sorry, I'm only collecting $20K this year."

The tricky bit is timing the sale so the kids don't have to make too many payments. But even two or three out of, say, 20 or 30 annual installments can be a lot less than the estate tax on the very few (less than 1%) estates that are taxable these days.

Skee · « **Reply #8 on:** June 06, 2020, 10:01:08 AM »

I'm no expert on estate planning, but in some states that might trigger estate taxes. In DE, property passes tax free to immediate family. In PA, IIRC family pays inheritance tax on either the appraised value at the time they inherit the property or on the actual sales price if the property is transferred by the estate. A revocable trust might be the better option in some states. Need to do your homework on this one.

Good idea though; I like that one.

Vulcanbill · « **Reply #9 on:** June 06, 2020, 02:26:43 PM »

Search engine optimization. What is it, how does it work,and what's worth paying for.

HipGnosis · « **Reply #10 on:** June 06, 2020, 07:13:44 PM »

Target customer ID(ing) and marketing

jadziadax8 · « **Reply #11 on:** June 07, 2020, 07:52:04 AM »

When you’re low on cash, who do you pay first?

Hint: the IRS, always.

1KPerDay · « **Reply #12 on:** June 07, 2020, 08:59:03 AM »

Oooo good one

CLAY · « **Reply #13 on:** June 07, 2020, 08:09:24 PM »

Quote from: Skee on June 06, 2020, 10:01:08 AM

I'm no expert on estate planning, but in some states that might trigger estate taxes. In DE, property passes tax free to immediate family. In PA, IIRC family pays inheritance tax on either the appraised value at the time they inherit the property or on the actual sales price if the property is transferred by the estate. A revocable trust might be the better option in some states. Need to do your homework on this one.

Good idea though; I like that one.

Yep- in Michigan we had to move it into a type of trust in order to save it.

1KPerDay · « **Reply #14 on:** June 08, 2020, 09:59:31 AM »

Thanks again all. Do you guys see a way for the estate planning topic to be relevant without becoming too complicated due to varying state specifics/restrictions?

Keep the ideas coming

CLAY · « **Reply #15 on:** June 08, 2020, 08:02:50 PM »

I'm not sure, but I DO know it's something that needs to be dealt with well before people thnk it should. Only time will tell if we made the move early enough.

It seems this could be an issue for any small business that wants to be passed on to the next generation.

Skee · « **Reply #16 on:** June 08, 2020, 08:43:00 PM »

Quote from: CLAY on June 08, 2020, 08:02:50 PM

I'm not sure, but I DO know it's something that needs to be dealt with well before people thnk it should. Only time will tell if we made the move early enough.

It seems this could be an issue for any small business that wants to be passed on to the next generation.

I think long term care facilities may look back 3 to 5 years. So you need to have a plan in place.

While you can talk about strategies in general terms, you have to make sure folks understand in many cases they need to get state specific advice and information.

CLAY · « **Reply #17 on:** June 09, 2020, 07:32:20 AM »

Quote from: Skee on June 08, 2020, 08:43:00 PM

Quote from: CLAY on June 08, 2020, 08:02:50 PM
I'm not sure, but I DO know it's something that needs to be dealt with well before people thnk it should. Only time will tell if we made the move early enough.

It seems this could be an issue for any small business that wants to be passed on to the next generation.

I think long term care facilities may look back 3 to 5 years. So you need to have a plan in place.

While you can talk about strategies in general terms, you have to make sure folks understand in many cases they need to get state specific advice and information.

Yep- 5 years for Michigan. 4 years to go for us at this point. Once we got this set, my parent's comment was "We should have done this years ago".

Yep.

I guess that's part of my point with this blog idea. While each state can be different, the important thing is to start the process WELL before they think- you don't lose anything. For many people (like my parents) it took a couple years for them to realize that they need to deal with this end-of-life stuff now, as a 10 year plan for farming is probably not in the picture.

jadziadax8 · « **Reply #18 on:** June 09, 2020, 08:02:15 AM »

Quote from: 1KPerDay on June 07, 2020, 08:59:03 AM

Oooo good one

Important. My dad found that out the hard way.

Bounce · « **Reply #19 on:** June 09, 2020, 10:01:59 AM »

Quote from: CLAY on June 07, 2020, 08:09:24 PM

Quote from: Skee on June 06, 2020, 10:01:08 AM
I'm no expert on estate planning, but in some states that might trigger estate taxes. In DE, property passes tax free to immediate family. In PA, IIRC family pays inheritance tax on either the appraised value at the time they inherit the property or on the actual sales price if the property is transferred by the estate. A revocable trust might be the better option in some states. Need to do your homework on this one.

Good idea though; I like that one.

Yep- in Michigan we had to move it into a type of trust in order to save it.

And assets moved into a trust aren't protected for the first 5 years (learned this with Mom when she absolutely refused all suggestions about it. When she finally did (at my brother's recommendation) she didn't live more than 3 years after... so what a double headache (of doing all her taxes, our taxes, and then the Trust taxes) because it wasn't done soon enough.

1KPerDay · « **Reply #20 on:** June 17, 2020, 10:00:28 AM »

Anyone had any brainwaves?

Vulcanbill · « **Reply #21 on:** June 25, 2020, 05:58:25 PM »

What’s the context? Blog for customers or employees? Basic nature of business?

1KPerDay · « **Reply #22 on:** June 25, 2020, 09:32:53 PM »

Blog is for small business owners primarily. Company sells small business software.

Bounce · « **Reply #23 on:** June 26, 2020, 07:39:57 AM »

If a vendor can't figure out what is important enough to themselves or what repetitive questions could be answered in a FAQ, then trying to push them into maintaining a blog will be fruitless and frustrating.

1KPerDay · « **Reply #24 on:** June 26, 2020, 10:06:00 AM »

The blog topics are for me to write about with an audience of small business owners.

Vulcanbill · « **Reply #25 on:** June 26, 2020, 02:29:16 PM »

Quote from: 1KPerDay on June 26, 2020, 10:06:00 AM

The blog topics are for me to write about with an audience of small business owners.

Yup. That's exactly what I was after.

Bounce · « **Reply #26 on:** June 28, 2020, 09:50:56 AM »

Quote from: Vulcanbill on June 26, 2020, 02:29:16 PM

Quote from: 1KPerDay on June 26, 2020, 10:06:00 AM
The blog topics are for me to write about with an audience of small business owners.

Yup. That's exactly what I was after.

Good point. I guess the original wording was a little less specific.

Mayhaps a first point at the beginning of the session:

For those of you who are here because someone said web sites with blogs are a good idea but really aren't sure about it:

A web site can be hands off, very much 3-times-a-day hands-on, or anywhere in between. Adding a blog to your web site moves it farther toward the hands-on side of things. If you don't understand the time commitment to a daily blog with new content, then consider a more hands-off design or hiring a part timer to maintain your blog while you and your staff do the actual work that keeps the lights on.

Vulcanbill · « **Reply #27 on:** June 28, 2020, 10:46:02 AM »

Perhaps you could link to some of your favorites (blogs) as examples. Or even solicit members here for their favs just to get ideas.

Smoothie · « **Reply #28 on:** June 28, 2020, 07:55:55 PM »

How about a blog post about ownership transition?

Might be a multi-part post.

For instance, say two people own a business who are in their early 40's. They should be looking at their employees with an eye toward who is going to buy the business from them and keep it going into the future, and they should be doing it now. Ten years from now is probably too late, and fifteen years from now is when they are going to be thinking about retiring. So as silly as it might seem, an owner should be thinking about who the next owner of their business will be the day that they become the majority shareholder.

And there are a number of ways to handle this. For instance, just close the business and collect receipts; transition to younger employees; sell the business outright. But you should be thinking about this waaaaay before you intend to do it.

coho · « **Reply #29 on:** June 28, 2020, 08:13:26 PM »

Counterpoint to Smoothie's totally cromulent point, I have never met a small business owner who expected or was willing to part with the business before death unless said business was ailing.

This is specific to restaurants/bars, but probably applies to other industries

Smoothie · « **Reply #30 on:** June 28, 2020, 08:42:45 PM »

Quote from: coho on June 28, 2020, 08:13:26 PM

Counterpoint to Smoothie's totally cromulent point, I have never met a small business owner who expected or was willing to part with the business before death unless said business was ailing.

This is specific to restaurants/bars, but probably applies to other industries

I guess that my previous partner and I are the ones, then. My ex-partner Ed told me about five years after he hired me, "I was looking for a guy like you since the day after I opened the doors."

And I was only a sole proprietor for about a year before I brought on the first of the two people to whom I'm selling the business.

Goal: Retire at 60. Then I can take more motorbike trips.

1KPerDay · « **Reply #31 on:** June 29, 2020, 09:28:10 AM »

Good ideas. Thanks

Vulcanbill · « **Reply #32 on:** June 29, 2020, 10:46:13 AM »

y'all mean succession planning