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 Biz-E Newsletter 
  www.sbdchelp.com
Serving Calvert, Charles and St. Mary's Counties
Tel.: 301.934.7583   Fax: 301.934.7681 
January 2011
In This Issue
In the Client Corner
Women's Business Roundtable
Tax Deduction for Self-Employed
The New "Benefits" Corporation
FREE Seminar: Ways to Cut Taxes
Upcoming SBDC Workshops
  
 
In the Client Corner

Sheila Johnson
Shiketa Johnson, Shinique Designs

 

When Sheila Johnson outgrew her salon space in St. Mary's county, relocating to Solomons Island was a great opportunity to offer expanded services in a retro-looking space with black and white tiles and a warm, welcoming environment for customers.  An antique barber pole is seen from the street and Corey, a barber at the salon, has numerous snapshots of customers to generate an interest in new styles.

Sheila and her entourage also include five very talented stylists. Sheila's daughter Shiketa is a professional braider and Tori is tucked away in the expansive space doing nails and pedicures. What is unique about Shinique Designs is that a family can come in and each member can be getting a service at exactly the same time with little or no waiting time. With today's fast pace and limited resources, Sheila has discovered what families in the area need most . . . expert services at affordable prices - all in one place.

"The SBDC has always been there when I called for help with marketing or other business issues," says Sheila. 

For more information on this established business' services, click http://www.shiniquedesigns.com or call 410-326-2804.
Women's Business Roundtable - January 21, 2011

business womenYou are invited to the first SBDC Women's Business Roundtable Meeting of 2011 on January 21 at the St. Mary's County Chamber of Commerce office from 6:00 p.m. to 8:00 p.m.

This month's program is "Do You Put Yourself on Sale?" presented by Annmarie Morgan, owner of Chesapeake Cuisine.  The program discussion will also include the results of the survey some of the participants completed in November.


We are more vigorously publicizing the round table to encourage awareness and growth of the organization as well as its individual member companies.  Feel free to invite colleagues and friends who may be interested in attending the Women's Business Roundtable this month or in the future.

Registration information is available at the SBDC http://www.sbdchelp.com/Events/  link.  If you have any questions, please feel free to contact Linda Craven at 301-866-1923 or lindacr@csmd.edu.  

Tax Deduction for the Self-Employed

On September 27, 2010, the Small Business Jobs and Credit Act of 2010 (H.R.5297) was signed into law. The legislation provides an important tax break for the over 23 million self-employed Americans that represent 78 percent of all small businesses in the U.S.  

Various business entities are able to fully deduct the cost of health coverage as a business expense, saving them a significant amount in payroll taxes.  With the passage of the Small Business Jobs and Credit Act, the self-employed will be allowed to take a one-year tax deduction on health costs for payroll tax (self-employment tax) purposes. It is expected that this tax benefit could save self-employed business owners approximately $456 to $968 in taxes this year. Click here for more information.

 

 

 

The New "Benefits" Corporation

Have you heard of the new Benefits or "B" Coporation?  Starting in October 2010, entrepreneurs in the state of Maryland whose corporate mission encompasses social benefit, were allowed to form a for-profit company that includes social benefit creation in its corporate charter.

 

Among the first to become B Corporations under the new legislation were two SBDC clients, Big Bad Woof, a Takoma Park-based organic pet food store, and Tebabu Assefa, an importer of Ethopian coffee. "Benefit corporations offer socially-conscious businesses a model for doing good while doing well," says Laura E. Jordan, Esq, attorney for the retailer. "Benefit corporations are uniquely suited, in our market-based economy, to focus on social benefit within the context of a profit-making."  For more information on the Benefits Corporation, click here.

FREE Seminar:  Ways to Cut Taxes Now and Avoid IRS Audit Triggers

In tough economic times saving every dollar becomes even more important. One way to do this is to minimize the taxes you and your business has to pay while avoiding setting yourself up for a audit. 


 
This seminar will teach you what you need to know to take advantage of new and existing income tax laws, best prepare for the tax season, and identify the top IRS tax triggers and how to avoid them.  

 

Friday, January 21, 2011   10 AM - 12 Noon

Wheaton Business Innovation Center

 

Wheaton Building South, 11002 Viers Mill Road, Suite 700 

Wheaton, Maryland, 20902

 

Directions: Turn off Veirs Mill Rd into Mall Parking lot. Drive past JC

     Penney's (on your right) and park in the customer parking garage

     (ahead) on level 1, close to the front. The building is the tall bldg

     across from the parking garage.

 

Cost: FREE

 

For more information and registration: Please visit  http://support.mdsbdc.umd.edu/rc/cal/default.asp?date=1-21-2011#event1

 

* Seating is limited, so register today!

 

Upcoming SBDC Workshops

The SBDC course schedule includes many useful classes such as...
  • Building a Successful Business Plan
  • Financing Your Small Business
  • QuickBooks
  • Legal and Records Management
...and are offered at CSM's locations in La Plata, Lexington Park and Prince Frederick.  
For a complete listing of courses, descriptions and fees, click here.  To register, call the SBDC main office at 301-934-7583.
Maria R. Dorsett
Small Business Development Center - Southern Region
 
The SBDC is part of the Maryland SBDC Network - an accredited member of the  Association of Small Business Development Centers.
 
Funded in part through a Cooperative Agreement with the U.S. Small Business Administration.
 
 
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