What is

Hiring Minors: Child Labor Laws & Best Practices

Keeping up with what and how many hours a minor can work can be challenging. Additionally, several states are changing their child labor laws. Learn more.

By Bryan Driscoll November 8, 2024 | Human Resources, What is

Child labor laws exist to ensure the safety, well-being, and educational opportunities of minor employees. If your small business employs minors (those aged 14 to 17), you must know and follow federal and state child labor laws. These laws limit work hours and restrict the types of jobs minors can hold, among other things. This…

Pros and Cons of Merchant Financing for Small Businesses

By Andrew Wan November 7, 2024 | Financing, What is

If you’re having trouble getting approved for a traditional loan, merchant financing can provide you with the funds needed to cover daily expenses or other funding needs. It is typically easier to get and rarely requires any additional collateral since your sales are considered collateral for the loan. Additionally, since repayments are often calculated based…

What Is Market Research? [+ Tips on How to Do It]

By Madeline Clarke November 6, 2024 | Starting a Business, What is

Market research is the process of assessing market conditions. It reveals insights about the best ways to prepare your business, whether you’re starting a new business or taking a new direction in an existing business. Market research is vital for small businesses; it helps them determine the viability of their business strategies based on the…

What Is Affiliate Marketing and How Does It Work?

By Kara Sherrer November 6, 2024 | Marketing, What is

Affiliate marketing is a specific type of digital marketing where third-party promoters earn commissions from selling a merchant’s product(s) to customers. It can help your small business increase its brand awareness and make more sales, all while keeping costs low and saving time. Some common types of affiliate marketers include social media influencers, bloggers, publishers,…

Net Investment Income Tax (NIIT): What It Is and What’s Taxable

By Liz Smith, CPA, MSTFP November 4, 2024 | Taxes, What is

The net investment income tax (NIIT) is an additional 3.8% tax on top of your regular income tax. It applies to investment income like dividends and interest. This tax can impact any taxpayer with income above thresholds assigned by the IRS to each filing status. The applicability threshold for NIIT is $250,000 for married taxpayers…

Commercial Hurricane Insurance: Coverage & Costs

By Nathan Weller November 4, 2024 | Insurance, What is

Though it started in June and runs until November, it feels like lately, hurricane season has made itself known through two back-to-back devastating hurricanes. Businesses, homeowners, and nonprofits are left with significant damages, and many wonder what role insurance plays when a natural disaster hits. Commercial hurricane insurance is an important combination of policy options…

What Is a Variable Interest Rate? Impact on Loans and Credit Cards

By Lauren McKinley November 4, 2024 | Financing, What is

A variable interest rate, which is also commonly known as a floating or adjustable rate, is used as part of a financing agreement that represents a rate of interest that can change periodically. In contrast with fixed rates that have the same interest rate over a term, variable interest rates can fluctuate based on market…

What Is an Investment Property Line of Credit?

By Lauren McKinley November 4, 2024 | Financing, What is

An investment property line of credit is a revolving credit facility that allows you to request funds via a draw, have the funds deposited to your account of choice, and use the funds on an as-needed basis. For an investment property, a line of credit can be used to finance property improvements, repairs and upgrades,…