New York SBDC Research Network

For those who track trends, this is the most important time of the year. It's when we get a status update on the economic well-being of the nation's households. The Census Bureau releases the latest income data from the Current Population Survey. The Bureau of Labor Statistics releases the latest spending data from the Consumer Expenditure Survey. An added bonus this year is the Federal Reserve Board's release of findings from the triennial Survey of Consumer Finances. All three surveys tell the same story: the average American is still struggling to recover from the Great Recession. Median Household Income Has Stalled The $51,939 median household income of 2013 was not significantly different from the $51,758 of 2012, after adjusting for inflation. This is the second year in a row of no significant change in median household income, according to the Census Bureau , following two years of decline. Median household income in 2013 was 8.0 percent below the median o...

From SmallBusinessNewz : Far too often I see business owners and entrepreneurs just getting started that simply don’t value what they do enough because they don’t have the validation that comes with landing high-paying clients. In short, in an effort to gain some traction and some exposure, they give everything away freely, or worse, get talked into doing things for people that don’t value what’s being given. Here’s the deal though – everything you do has some value and you simply must start thinking this way if you even expect to rise above a meager existence. You must start to think about how to exchange value for everything you do. Now, don’t get me wrong, there are times when you determine to do someone a favor or support a cause or mission with no thought of being paid for your time – that’s not what I’m talking about. I’m talking about that instance when someone – often able to pay – wants you to provide a service for free or for a discount. Or that event that promises ...

From HERE: These FAQs are meant to provide general guidance on topics of interest to taxpayers. However, taxpayers should be aware that subsequent changes in the Tax Law or its interpretation may affect the accuracy of an FAQ. The information provided in these FAQs does not cover every situation and is not intended to replace the law or change its meaning. Business Capital Q. Does business capital include the capital that generates other exempt income? A. Yes, because this capital may also generate taxable business income, such as capital gains from the sale of stock in a unitary corporation that is not included in a combined report with the taxpayer. Q. Are Internal Revenue Code Section 78 gross-up dividends included in the business income base? A. Our current policy of excluding these dividends is being continued. See NYS Tax Law section 208.9(a)(6). Q. Will New York State consider a corporation instantly unitary with a taxpayer when acquired? A. It is a facts and circu...

Who doesn’t love a good deal when online shopping? Pretty much everyone. But not all offers are created equal, and in July 2014 polling by Retention Science, percentage discounts led the pack as the most effective customer incentive. Among US online retailers, 30.9% said a percentage discount was the most effective customer incentive, the No. 1 response. Meanwhile, 21.8% cited shipping incentives—free or discounted—as offers that worked best for their customers. Though percentage discounts were the favorite, amount discounts weren't very popular... However, a Q2 2014 study by Flagship Research for BlueHornet found age played a big role in whether US internet users preferred a percentage discount vs. free shipping. Consumers ages 18 to 45 favored discounts, while 46- to 75-year-olds preferred free shipping — indeed, shipping costs are a top digital shopping pet peeve for older generations. See more at eMarketer .

Here’s what you know: your accountant can do your taxes. But here’s what you might not know: your accountant can also help you accomplish your business goals. Accountants build up both financial and business acumen throughout their careers, and they’re often willing to share their knowledge with clients. Read more at BPlans.com .

St. Lawrence County Matchmaker Tuesday, October 28th, 2014 SUNY Canton, Miller Campus Center 8:00 am – Noon Hosted by: SUNY Canton Small Business Development Center , St. Lawrence County Chamber of Commerce and North Country PTAC Sponsored by: What is a Matchmaker? This is an opportunity for businesses to meet, one-on-one, with representatives from the colleges, federal agencies, state and local governments and large regional institutions. Agencies and prime contractors are looking to source products and services from local small businesses. Matchmaking is like ‘Speed-dating’. You will sign up for 10 minute meetings with individual agencies and have that short time to network and share marketing materials. When the bell rings, you move to the next agency on your schedule. Sign-up with agencies will take place between 8:00 - 8:45 am. » View our current list of Agencies and Primes What to Expect? Bef...

Smart Small Business Travel To increase orders from your current customers and find new clients, plan a business trip. Travel, an important tool in your small-business tool kit, is an investment in growing and sustaining your business. And as with any investment, you want to get the highest return—in this case, your return on travel. Businesses get an average return of $9.50 for every travel dollar they spend, according to a study the U.S. Travel Association sponsored, which Oxford Economics conducted. And it’s clear why business travel makes sense. In-person interactions close sales and deepen relationships. High Return on Travel Plan One obstacle that keeps business owners from traveling is the belief that they must be on-premise to run their businesses. Can you entrust team members with more of the daily operations so you can focus more on business development? Can you adopt cloud solutions and apps that allow you to be a more effective mobile manager? Must Have Apps ...