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National Small Business Week is May 12-16, 2014

This week marks the 50th Annual National Small Business Week and LetMeThink4U.com is proud to join forces with the U.S. Small Business Administration to honor some of the best small businesses and entrepreneurs from across the nation.

We will feature six small businesses on our website beginning on Friday, May 16, 2014.  Please nominate a small business by visiting our Instagram page at LetMeThink4U and nominating your favorite small business!

LetMeThink4U.com will also provide a 30% discount off our business  service packages, including the Business Plan Development, ReOrganization Structuring, Business Plan Review, and Franchising packages.



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IRS Recognizes Same Sex Marriages*This information is extremely important for small business owners to take into consideration.

WASHINGTON — The U.S. Department of the Treasury and the Internal Revenue Service (IRS) today ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes. The ruling applies regardless of whether the couple lives in a jurisdiction that recognizes same-sex marriage or a jurisdiction that does not recognize same-sex marriage.

The ruling implements federal tax aspects of the June 26 Supreme Court decision invalidating a key provision of the 1996 Defense of Marriage Act.

Under the ruling, same-sex couples will be treated as married for all federal tax purposes, including income and gift and estate taxes. The ruling applies to all federal tax provisions where marriage is a factor, including filing status, claiming personal and dependency exemptions, taking the standard deduction, employee benefits, contributing to an IRA and claiming the earned income tax credit or child tax credit.

Any same-sex marriage legally entered into in one of the 50 states, the District of Columbia, a U.S. territory or a foreign country will be covered by the ruling. However, the ruling does not apply to registered domestic partnerships, civil unions or similar formal relationships recognized under state law.

Legally-married same-sex couples generally must file their 2013 federal income tax return using either the married filing jointly or married filing separately filing status.

Individuals who were in same-sex marriages may, but are not required to, file original or amended returns choosing to be treated as married for federal tax purposes for one or more prior tax years still open under the statute of limitations.

Generally, the statute of limitations for filing a refund claim is three years from the date the return was filed or two years from the date the tax was paid, whichever is later. As a result, refund claims can still be filed for tax years 2010, 2011 and 2012. Some taxpayers may have special circumstances, such as signing an agreement with the IRS to keep the statute of limitations open, that permit them to file refund claims for tax years 2009 and earlier.

Additionally, employees who purchased same-sex spouse health insurance coverage from their employers on an after-tax basis may treat the amounts paid for that coverage as pre-tax and excludable from income.

- Excerpt from IRS Newsletter IR-2013-72.

Business Plans 101- Lesson One- 4 Basic Things to Know About Business Plans

 Business Plans 101- Lesson 1 Many people request help and guidance on how to write a business plan. Most people view business plans as an optional aspect of the entrepreneurship process, which is not true and can be very dangerous to a new business. A business plan is probably the most feared, yet most important [...]

    As a fellow small business owner, you understand the sacrifice of time, energy, and finances required to ensure that your business is a success. With that, we want to challenge you to challenge others to skip the Walmart and Target run this year and to use your holiday cash to patronize a quality small business. [...]

How can I fund my business?  Is there any free money available? Well, every Monday LetMeThink4U will provide a list of funding and grant opportunities to assist small businesses. We all know that regardless of how great our ideas and business plans are, money makes it all a reality. We hope that these opportunities prove [...]

How can I fund my business?  Is there any free money available? Well, every Monday LetMeThink4U will provide a list of funding and grant opportunities to assist small businesses. We all know that regardless of how great our ideas and business plans are, money makes it all a reality. We hope that these opportunities prove [...]