New York SBDC Research Network

Article from USA.gov Businesses and their staff face a variety of hazards:  Natural hazards like floods, hurricanes, tornadoes, and earthquakes. Health hazards such as widespread and serious illnesses like the flu.  Human-caused hazards including accidents and acts of violence.  Technology-related hazards like power outages and equipment failure.  There is much that a business leader can do to prepare his or her organization for the most likely hazards.  The Ready Business program helps business leaders make a preparedness plan to get ready for these hazards. The Ready Business Toolkit series includes hazard-specific versions for earthquake, hurricane, inland flooding, power outage, and severe wind/tornado. Toolkits offer business leaders a step-by-step guide to build preparedness within an organization. Each toolkit contains the following sections:  Identify Your Risk  Develop A Plan  Take Action  Be Recognized and Inspire Others

Written by Jill Worth  Article from The Rodon Group When looking for a manufacturer that will provide you with quality, savings, and a quick turnaround, it’s essential to consider the location of your facility. While many companies are moving overseas in search of cheaper production and labor costs, it often pays to keep your company based right here in the United States.  In fact, there are numerous benefits to choosing a manufacturer based in the United States over those found abroad––, especially in the long run. Below, we discuss seven of the main advantages.  Choosing U.S.-based manufacturing means creating jobs here at home for Americans. Many customers value companies that are rooted in their communities and employ their neighbors and friends, and therefore will choose those products over your competitors for that very reason.  By keeping your manufacturing in the United States, you can be sure that you’re supporting the local and national economy and helping Ameri

Written by Bob Coleman  Article from Coleman Report SBA has compiled a very good chart summarizing all of its loan programs with updated fees as of October 1. You may download it here.

Written by Darla Mercado  Article from CNBC The IRS has tweaked income tax brackets for the new year, adjusting them for inflation.  Next year’s standard deduction will be $12,200 for singles and $24,400 for married couples who file jointly. Personal exemptions will remain at zero.  There will be no penalty for failure to maintain minimum essential health coverage in 2019. This year, the penalty was $695.

From the Internal Revenue Service : The Internal Revenue Service, state tax agencies and the tax industry will hold a National Tax Security Awareness Week December 3-7, 2018 to encourage individual and business taxpayers to take steps to protect their tax data and identities in advance of the 2019 filing season. The IRS announced steep declines in tax-related identity theft in 2017 following the success of the Security Summit effort. Key indicators of identity theft dropped for the second year in a row in 2017. This includes a 40 percent decline in taxpayers reporting they are victims of identity theft in 2016. Since 2015, the number of tax-related identity theft victims has fallen by almost two-thirds and billions of dollars of taxpayer refunds have been protected. The Don't Take the Bait awareness series is focused on the need for tax professionals to increase their computer security and be cautious of spear phishing scams. Tax professionals must remember that they have a l

From Bloomberg LP Written by Zeke Faux and Zachary Mider New York’s attorney general has opened an investigation into potential abuses by finance firms that offer quick money to small businesses nationwide, according to a person familiar with the probe. Attorney General Barbara Underwood’s office is looking into whether merchant cash-advance companies engaged in fraud or abused the state court system, said the person, who spoke on the condition of anonymity. Last week the office subpoenaed one of the largest cash-advance companies, Yellowstone Capital LLC, the person said. "It’s reprehensible to defraud, deceive and harass small-business owners through predatory debt-collection practices and the abuse of our court system," Underwood said in a statement to Bloomberg News that didn’t provide details. “If a company is engaging in fraudulent and deceptive conduct, we want to know.”

Article from Pennsylvania Department of Revenue Any entity making taxable sales or performing taxable services in Pennsylvania must be licensed to collect and remit sales tax. Pennsylvania’s sales and use tax rate is 6 percent. An additional 1 percent local sales and use tax applies to sales in Allegheny County; an additional 2 percent local sales and use tax applies to sales in Philadelphia.  No tax is due on out-of-state deliveries made by a vendor or common carrier. However, deliveries made within Pennsylvania are subject to sales tax.  Any business that does not have a permanent physical location in Pennsylvania, but makes taxable sales in Pennsylvania on an irregular basis, is required to register for a transient vendor’s license. Transient vendor licenses are renewable on a yearly basis so long as the taxpayer timely files and remits all sales tax.  All other out-of-state vendors, making taxable sales in Pennsylvania, are issued sales tax licenses, valid for five year