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Three Things Small Businesses Need To Do In The New Year – Forbes

The holidays are officially behind us, which means folks are getting back to work and back to their routines. But what happens when your routine just isn’t cutting it for you? For many small business owners, routines can actually hurt you… or more specifically, your business… if you don’t allow yourself to mix things up, try new things and approach business from a different perspective every now and again. To help jump-start your 2016, consider incorporating these three things into your business – whether for the first time, with more robust efforts than in the past or as a second attempt to a failed first endeavor.

#1: Attend Educational Experiences Unique to Small Businesses or Your Unique Business Category

#2: Seek Data Data From Unexpected Places

#3: Participate In Omni-Channel Marketing

Finally, challenge yourself to view your business from a variety of perspectives other than your own. Consider how your employees perceive your business, how your customers perceive your business, how your competitors perceive your business and even how local, non-competitive businesses perceive your business. Are you 110% satisfied with what you believe they see? Or how theyunderstand your business to be? If not – and for nearly ever business, this should be the case – aim to strengthen the areas in which your business may be perceived poorly.

Read the full article directly from the Source: Three Things Small Businesses Need To Do In The New Year – Forbes

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A Tax Break for Small Business – Bloomberg View

Purchasing expensive equipment can be daunting for small business owners, especially those managing most of their expense accounting in house. Understanding balance sheet expenses and depreciation schedules can be confusing for inexperienced bookkeepers. Adilas can help you get your books organized. Bloomberg View offers this commentary on tax relief for small businesses:

Congress simplifies the rules for capital expenditures.I know — taxes and depreciation schedules put you into a coma. Before your eyes glaze over, follow what this means. Before, when a business bought or leased a piece of equipment, some of the costs were written off each year through depreciation. This offered businesses some incentive to invest in equipment, but it made their accounting and taxes more complex than necessary.

The change to Section 179 eliminates that depreciation schedule. Small companies can simply purchase as much as $500,000 in business-related equipment and write it off that year. It’s a much simpler approach to making and accounting for capital expenditures. 

Read more from the Source: A Break for Small Business – Bloomberg View