Worth Archives - GUJRAT INDIA

Why Is Applying For The Self-Employment Tax Deduction Worth It?

If you are running your own business or are planning to, you should know all you can about the self-employment tax deduction, which can save you a lot of money if you do. A lot of these advantages in the tax reduction are available only if you are self-employed and not if you are employed by anyone. All you have to do is your own personal Social Security number as your company’s tax identification number and then make sure you file under a Schedule C or Schedule C-EZ and you are all set to start benefiting from the deduction.

There is however a difference between Schedule C and Schedule C-EZ and the benefits they can provide you with in terms of taking advantage of the self-employment tax deduction. The EZ form should only be used by those who have a smaller amount of expenses and end the year with a substantial profit. A few other things in terms of taking advantage of the reduction using the EZ form, is that you should be a business without any employees, one that has no reason to claim a home office deduction and are not going to report any depreciation. If you qualify with these you should use the EZ form, otherwise you should use just the Schedule C in order to get the best you can out of the tax reduction. Basically with a Schedule C you can report a loss, otherwise you cannot.

Let’s look at what you can claim using the self-employment tax deduction. First you claim equipment expenditure under what is called Section 179. Under this section you claim any equipment purchased that year. There can be a limit to the amount that tends to change a lot, so please look at the Internal Revenue Service’s publication number 946 to help you in finding out the exact limit.

You can also claim travel under the tax reduction. This includes mileage and percentages of any meals and entertainment that are purchased. As long as you keep good records and your receipts you would do well claiming this. You must also remember to keep this within the limits of business related expenses.

You may also include health insurance, social security taxes and self-managed retirement benefits in your self-employment tax deduction. This means that you can include any premiums for yourself or family members as well as a certain amount of the payment you make on social security tax in any claims you may make in qualifying for the deduction. The only problem is that you the social security claim is only on the Form 1040 and not the Schedule C. As far as the self-managed retirement benefits as long as you open a Keogh or a Simplified Employee Pension and subtract any contribution you may make to these plans. This also can only be done on the Form 1040. But it is well worth the savings you can claim on a deduction.

One last thing you can claim under the self-employment tax deduction is in regards to a home office. Whether you use the office for storage of files and book keeping or if you don’t spend very much time there, you can still claim this as part of your self-employment tax reduction.

As you can see when it comes to claiming and receiving the benefits of being self-employed it is well worth it. As long as you keep careful and exact records you can take full advantage of the reduction.

What Is Your Website Worth and How to Sell It for Maximum Value

A lot of business enthusiasts and tech geeks are getting involved in forming their own e-commerce business where they can sell products or services and make a profit. Maybe out of passion, you have developed a website with an idea of starting a business from home. After a point of time, you might think to pass your baby on a new hand may be to fund a new project.

The first course of action will be looking for a good marketplace to sell your website. However, the next step can be a challenging part as you will have to evaluate your own business. It is an essential aspect to evaluate your business website and find out how much is your website worth or it can be sold for.

This article will guide you through have a clear understanding of how you can find out the worth of your website and how can sell your website for a higher value.

How should the SELLER evaluate the website?

The website only makes value if it has potential to provide a good return on investment. The buyer will only invest in those websites that can make sales and offer better revenue.

You as a seller and the customer is a buyer will obviously have a different mindset about the website. The buyer who will be investing in your website might expect a quick payback and hence, he will decide the amount based on the risk.

For instance, a seller has evaluated the website in a way that he has invested $10,000 into website development, $5,000 for the domain and another $40,000 for the traffic generation, ads, etc. hence, it should be worth $55,000. This way of evaluation is absolutely wrong!

Each and every aspect comes under consideration while evaluating a website such as the development and maintenance cost of the website, domain fees, traffic, monthly sales and profit, the amount spent on promotion and ads, etc. Hence, the profit is something that gets evaluated, not the assets.

How will a BUYER evaluate the website?

Most of the buyers are willing to pay a higher amount of what the business is generating but it is determined by the amount of risk involved. The lesser is the risk, the higher amount will be spent by the buyer for a website.

Factors involved in evaluating a website:

• Consistency in earnings

• Business growth

• Automated systems

• Revenue streams

• Traffic and ranking

• USP

Here’s how you can maximize the value of your website:

1. Estimation and paperwork: It is necessary to have all your assets, profits and expenses calculated for a good reason of course! At any point of time while estimating, you may forget any of the figures to add accurately.

2. Simplify your routines and other processes: It is necessary to ensure all the processes are functioning excellently. It will be a great idea to cut down unnecessary expenses.

3. Try differentiating whatever you are offering: You will have to look for a way to differentiate your business from the other competitors. Try figuring out what makes you stand different and exclusive from other and showcase it to your buyers.

4. Organize your business: Your business should not lack behind in any terms, hence keep things organized so that it attracts more buyers. It’s a great idea to make your business more organized while fixing any kind of problems.

Shockingly Good Support From a Hosting Company – Worth Shouting About

In 1998 I started a small (miserably so) online business and had my first experience with selecting a hosting company. Back then it was really no big deal because mine was way too small a business to have many hosting needs and in those early times there was less competition amongst hosting companies. About all I was concerned about was having adequate storage space. Traffic wasn’t even an issue. Still, I ran into unexpected difficulties and soon learned that even very small businesses have to be concerned with more than just disk space. Support was the detail I hadn’t considered.

That first experience soured me somewhat because I learned that it can be like pulling teeth to get support from a company that doesn’t take this aspect of business seriously. The company I first hosted with turned out to be located in someone’s home — a fact that was never divulged in the advertising. The man was nice enough, and he tried very hard to accommodate me as long as my support questions came about on weekdays between 9 a.m. and 5 p.m., his time. Even then, he did not impress me with his level of expertise.

I have since been through no less than six moves, and until this last one, not one of them were easy to tolerate. If I remember correctly, the second hosting company I tried had a penchant for going offline way too many times, and attempts to get support were frustrating. An eCommerce site cannot afford to be available to customers only on occasion. By this time my business had grown somewhat and I had become very sensitive to this aspect. It was a sour experience and I remained with the company for less than a year.

Next came a well publicized hosting company that had received some good reviews — though I’m still a little suspicious of so-called reviews one finds online — and while the initial move went well, I had ongoing problems with connectivity and, again, a horrible time getting support. For one thing, there was no phone support at all. Everything had to submitted via a support ticket. This is fairly common, I’ve found, and there is nothing inherently wrong with support tickets, unless they are slow to be addressed and there is no alternative route to Support. Also, there was a most obvious language barrier which led me to believe “Support” was located off-shore. I am certainly not racist, but I believe it is mandatory that both parties are able to understand each other for anything constructive to happen. It was ugly.

The next experience was awful, more so than any other, because after a few months of reasonably adequate hosting the company I had moved to simply went out of business, with absolutely no prior warning. This was so bad word spread throughout the Internet and it became a well known debacle.

Skip to my most recent forced move. The host company I have been with for the last three years, I will say, has been a good host. It shall go un-named because I have no malice toward it. I had to move because, as an eCommerce site, I am compelled to show that I am PCI compliant in order to continue accepting credit cards via the Internet. This fairly new security measure is one I applaud, as it goes a long way to giving the buying public the kind of hard and fast security that has been lacking up to now, but because my hosting company was either unable or unwilling to provide a PCI compliant environment I was forced to find a new host. I imagine there are thousands of businesses scrambling to find hosting companies that will meet this need, which is one of the reasons I decided to write this article.

I found TVCnet.com as a result of being referred to them by McAfee Secure, a well known company that provides online businesses with security scanning and certification. They told me TVCnet.com was one of the very few hosting companies they felt comfortable recommending. When I looked at the available packages this hosting firm offers, I have to say I was not blown away. The packages are fairly small, but the pricing is also very affordable. The BIG plus was that they obviously put themselves forward as the leader in striving to be, and stay, PCI compliant for the sake of all their eCommerce customers. I decided to give them a try. My expectations were low until I called the phone number on the TVCnet.com home page . . . and got the owner!

Not only did Jim Walker answer my questions, he did so with candor, amicability and enthusiasm. He did not over sell. In fact he went out of his way to make sure I knew exactly what the company could do and what not to expect. There was precious little of the latter. I didn’t keep him on the phone, he kept me on. For over twenty minutes he spoke with me and would not hang up until he knew every one of my questions and concerns had been answered. Result was that I signed up an hour later, via the online process. Still . . . I knew not to expect an easy transition. There was a shopping cart that had to work, a Linkpoint gateway that had to work, and several other site functions, including installation of my privately owned SSL cert, that had to go well. I crossed my fingers and waited, while Jim and his support team handed everything. I didn’t have to upload a single file. My entire site was moved from the current host to TVC and every script and application was handled with care and concern.

Yes, there were problems. My payment gateway to Linkpoint refused to install properly and I fully expected this to take days to fix. But Jim, himself, stayed at it on into the weekend without interruption until it was done and working flawlessly. We exchanged dozens of emails (less expensive than phone time and email affords a record of the process that can be saved), and all I had to do was provide him with access information to various sources where he knew he could find the information he needed.

Jim does not know I’m writing this article. I am doing this because, quite simply, I am blown away by the seriously impressive support — no, let’s make that Support with a capitol ‘S’ — that TVCnet.com provided to me. Others need to know about this company. Hopefully, this article will make the road less bumpy for others who are compelled to find PCI compliant hosting, and for anyone with any sort of web site who would like to be hosted by an intelligent, helpful and friendly company.