Write a Business Plan

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Write a Business Letter

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Understand U.S. IRAs

Make investing a little less taxing

In the U.S., an IRA (Individual Retirement Account) and its tax benefits can make an attractive investment. But which type is best for you–traditional, Roth, or education?Each has different tax advantages, different guidelines for eligibility, different allowable investment rates, and different types of penalties for withdrawing at different ages. We’ll outline each type of IRA, and help you decide which will work hardest for you.An IRA pools people’s money together and invests it. The combined investment generates profit and interest, which is divided among investors according to how much they put in. An IRA is set up so investors can direct their contributions (or different percentages of their contributions) toward safe or aggressive investment funds, depending on their individual long-term goals. In this way, it’s similar to a 401(K) plan, but 401(K)s often feature the added investment of matching funds from employers. This 2torial only discusses IRAs. All money amounts given are in U.S. currency. Read the rest of this entry »

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Terminate an Employee

How to fire without getting burned

At some point, every employer must bid farewell to an unproductive, perpetually tardy, or otherwise troublesome employee. But it’s almost never easy to take this step. In fact, many bosses wait until the discomfort becomes acute before they act.Most American employees work under at-will contracts. That is, both employer and employee can theoretically end the relationship at any time, for just about any reason. But in practice, a maze of laws and court rulings is making matters more complicated all the time.This doesn’t mean your hands are tied. You still have the right to let under-performing workers go, but you must build a solid case. Here’s a guide to potential trouble spots, plus some diplomatic suggestions on how to make your employee’s last day as painless as possible. Read the rest of this entry »

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Shop for Home Owner’s Insurance

Safe at home

As unpleasant as they may be to think about, accidents do happen–houses get robbed, roofs collapse under the weight of snow, visitors slip and fall, and tree branches break windows. Odds are you’ll be one of the lucky home owners who only has to file a minor claim once a decade. Still, a good insurance policy can help you feel safe and secure in your own home–and in the event something unexpected does happen, you’ll feel better knowing you’re covered.By shopping around and doing some easy preliminary research, you’ll increase your chances of finding a policy that provides the greatest security for you and your family. We’ll show you what to look for, what to ask, and what to avoid.Before you decide to purchase anything, research the area where your house is to determine what types of situations you’ll have to insure against. For instance, is the house in a neighborhood prone to high rates of vandalism and theft? Have severe weather conditions, like snow and rain storms, hurricanes, or tornadoes, been an issue for your neighbors? How about fires, earthquakes, or mud slides? Speaking with your neighbors about these things will give you a tremendous jump-start on knowing what type of insurance you’ll need to buy–and maybe even how much you’ll have to spend. Read the rest of this entry »

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Secure a U.S. Patent

An ounce of invention is worth a pound of paperwork

Imagine you design a better mousetrap, then someone else builds and sells it–and keeps all the profits. You can prevent this from happening by securing a patent, ensuring you reap the rewards of your own ingenuity.The United States’ Founding Fathers believed so strongly in the right to patent inventions that they enshrined it in the Constitution. Of course, pursuing that right takes work, determination, and money. But the long-term benefits can be huge.A patent grants an inventor the exclusive right to profit from his or her invention for a limited period. During that time, no one can use the invention for profit without asking (or buying) permission from the inventor. In general, the inventor is the only person who can hold a patent. However, exceptions are possible, for example if the inventor is dead or insane, or if an investor contributed significantly to the invention process. Read the rest of this entry »

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Retain Employees

When the headhunter comes knocking…

In today’s free agent workplace, employees have few qualms about jumping ship when they get a better offer. And in a booming economy, desirable workers don’t even have to seek new opportunities–headhunters come to them.As a result, employers are having to work harder to retain talented employees. Ignoring the problem can be costly–eventually the cost of hiring and training replacement workers will affect the bottom line. Read on to find out what smart companies do to keep their best workers from roaming.If you’re wondering whether your company needs an employee retention plan, consider the potential costs of employee turnover. The price tag varies from position to position and firm to firm, but it’s not unusual for total costs to run as high as a full year’s salary–or more. Consider the following expenses:


Loss of a seasoned employee’s expertise Read the rest of this entry »

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Rent Commercial Space

An office of one’s own

If your business has officially outgrown your spare bedroom, we congratulate you. Now the trick is to find an office that will keep your business growing, whether it’s on Wall Street or Main Street. Sounds simple, but you’ll have to balance several factors–size, cost, location, and services–to find the right equation for your business. We’ll explain how to find the correct mix so your business stays on track. Renting commercial space is a lot like renting an apartment–just more complicated. First of all, you have to consider not just your own needs, but also those of your clients and employees. Further, offices tend to have more complicated infrastructure needs, from wheelchair accessibility to souped-up wiring for phone and computer networks. Finally, leases tend to have many factors to consider (and negotiate), from length (which can range from one to five or more years) to infrastructure improvements your business may require. As a result, novices should seriously consider the services of a commercial real estate broker. These professionals can help you define your needs, find appropriate rental properties, and negotiate a lease that takes your best interests into account. Read the rest of this entry »

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Register a U.S. Trademark

Make your mark

There are certain words and images that mean only one thing, no matter where you are in the world. Everyone knows the golden arches of McDonald’s, and that “Just Do It” means Nike products are at hand. Let’s face it, a great trademark can be a powerful marketing tool.We’ll show you how to take advantage of your company’s slogans and logos by registering them with the U.S. Patent and Trademark Office (USPTO).According to the USPTO, a trademark is “a word, phrase, symbol or design, or combination of words, phrases, symbols or designs, which identifies and distinguishes the source of the goods or services of one party from those of others.”

Besides logos and slogans, trademarks can include the name of a company offering particular services, or the brand name of a product or product line. Above all, a trademark must be unique. You can’t trademark common words and phrases, for example “milk chocolate” or “cold beverage,” although you can incorporate them into a longer phrase, like “Milk Chocolate Auto Parts,” and trademark that phrase.

Note: There are differences between trademarks and other registered marks, including service marks (for services as opposed to products), certification marks (used to certify certain qualities of a product, for example its construction or the origin of its materials), and collective marks (for groups of organizations such as trade groups or union organizations). For the purposes of this 2torial, we’ll refer to them all as “trademarks.” Read the rest of this entry »

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Read the U.S. Stock Market Pages

Dow who?

Maybe you inherited some bonds from a beloved grandmother, or your best friend tipped you off to a certain mutual fund. Maybe your new job offer includes “attractive stock options” and you’re wondering just how attractive they are. But when you open the financial section of the newspaper, it looks about as familiar as a robot language from another planet. What the heck is Hi Lo Stock Sym Div Yid% PE Vol 100s Close Net Chg? And just who is this Dow Jones?Fear not: we’ve broken the codes so you can reach stock market literacy. Once you finish reading this 2torial, making sense of the financial pages will be a snap. Read the rest of this entry »

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