Chamber Blog--Positioning For Success

McDowell Chamber of Commerce is invested in the success of our county and works to create opportunities, facilitate economic growth, and promote our area as an enticing place to live, work, and play. Our goal is also to be an advocate for our businesses and help them thrive and grow. In Positioning For Success, we'll share tips, tools, expert advice, and resources to help you do just that--Thrive & Grow!

Many businesses classify their workers as independent contractors for legitimate business reasons. However, a worker misclassification can have severe financial consequences, especially for small businesses that are hit with various penalties and required to pay restitution. Consider these issues before classifying your workers and decide whether you’re better off paying some extra costs upfront but avoiding the risk of worker misclassification case.

If you want to grow your business, you probably need to hire employees to help you. Becoming an employer and expanding your staff entails many responsibilities, one of which is seeing to payroll taxes. Unfortunately, there are many myths about these taxes.

Opening a new business is exciting and fearful at the same time. But you're ready! You have a solid business plan (because you took the Marion GEM Class), you've done your market research, and you've saved plenty of capital for operating expenses. You've found the perfect location with a price you can afford and are eager to sign that lease and move in. But wait ...

April is National Financial Literacy Month and taxes are due, so in light of this, we are going to focus on providing you with tools, tips, and guides (see Tax Paying Guide below) all month that will help you organize, plan, monitor, and manage your business finances better!

As the festivities of the Christmas season settle in our collective memories, its time to gear up for the coming year. Our guest blogger, Johnson Price Sprinkle PA has some excellent advice on last minute things you should consider when preparing your taxes both personal and business. The new tax law brings some changes you'll need to consider in order to file correctly and take advantage of all the deductions for which you qualify.