Northeast Minnesota's Small Business Development Center
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In This Edition
Local Business National Attention
Fundamentals of Exporting
IRS Tips
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Do you know a teen who wants to own their own business someday or even now? UMD Teen Enterprise challenges students to think entrepreneurially while still in high school.
 

Upcoming Workshops 

 

 

Excel I

06/10 (9:00am-12:00pm)

 

Excel I

06/10 (1:00pm-4:00pm)

 

Fundamentals of Exporting

06/11 (9:00am-2:00pm)     

 

Iphone and Ipad

and Your Business

06/11 (10:00 am-12:00pm)

 

Windows 8

06/11 (1:00pm-3:00pm)

 

 

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UMD Center for Economic Development

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The Small Business Development Center for Northeast Minnesota

www.umdced.com

(218) 726-7298


Regional Center: Duluth

 

Satellite Offices: Hibbing/Chisholm
Quad Cities
International Falls
Grand Rapids
Ely
Grand Marais/Cook County
Two Harbors/Lake County
Carlton County
Hermantown

 

HELPING ENTREPRENEURS AND BUSINESSES GROW AND SUCCEED
NATION WIDE ATTENTION FOR A LOCAL BUSINESS
Paul Wrazidlo - Owner Old World Meats

A local Duluth business received nationwide attention from America's Small Business Development Centers (ASBDC) Network in their newsletter and blog.

On May 21, 2014 the ASBDC posted a success story from the UMD Center for Economic Development:

Minnesota SBDC Helps Small Businesses Think Big
Read the Blog Post for Paul's story. Congratulations to Old World Meats!

 

FUNDAMENTALS OF EXPORTING
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Fundamentals of Exporting Workshop

Are you ready to expand your business internationally? Have you had questions about exporting that you want answered? Or do you want to increase your sales but not sure how?  Exporting just may be the answer.

 

We welcome the Minnesota Trade Office representative Ed Dieter who will be talking about the Fundamentals of Exporting that will help you gain skills needed to become a successful exporter.

Date: June 11, 2014
Time: 9:00am - 2:00pm

Location: Center for Economic Development in Duluth, MN

Cost: $25 (Includes lunch)
 
 
 

IRS TIPS FOR PAYING YOUR TAX BILL
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Five Tips to Help You Pay Your Tax Bill

 

If you get a tax bill from the IRS, don't ignore it. A delay may cost you more in the long run. The longer you wait the more interest and penalties you may have to pay.  

 

Here are five tips to help you avoid those extra charges:

 

1. Pay electronically.  Using an IRS electronic payment to pay your tax is quick, accurate and safe. You also get a record of your payment. Your options include:

  • IRS Direct Pay
  • Electronic Federal Tax Payment System
  • Credit or debit card

Direct Pay and EFTPS are free services. If you pay by credit or debit card, the company that processes your payment will charge a fee.

 

2. Pay monthly if you can't pay in full.  If you can't pay all at once, apply for a payment plan. Most people and some small businesses can apply using the IRS Online Payment Agreement Application on IRS.gov. You can also apply for a plan using Form 9465, Installment Agreement Request. The best way to get the form is from the IRS.gov website. You can also call the IRS at 800-TAX-FORM  (800-829-3676)  to get it by mail.

 

3. Check out a direct debit pay plan.  A direct debit pay plan is the lower-cost hassle-free way to pay. The set-up fee is less than other plans - $52 instead of $120. With this type of plan, you pay each month automatically from your bank account. There are no reminder notices from IRS, no missed payments and no checks to write and mail. For more on these rules see the Payment Plans, Installment Agreements page on IRS.gov.

 

4. Consider an Offer in Compromise.  An Offer in Compromise allows you to settle your tax debt with the IRS for less than the full amount. An OIC may be an option if you can't pay your tax in full. It may also apply if full payment will create a financial hardship. To see if you may qualify and what a reasonable offer might be, use the IRS Offer in Compromise Pre-Qualifier Tool.

 

5. Pay by check or money order.  Make your check or money order payable to the U.S. Treasury. Be sure to include:

  • Your name, address and daytime phone number
  • Your Social Security number or employer ID number if business tax
  • The tax period and related tax form, such as "2013 Form 1040"

Mail it to the address listed on your notice. Do not send cash in the mail.

 

Find out more about the IRS collection process on IRS.gov.

 

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Funded in part through a Cooperative Agreement with the U.S. Small Business Administration, Minnesota Department of Employment and Economic Development and regional support partners. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the program sponsors. Programs are open to the public on a nondiscriminatory basis. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Contact the UMD Center for Economic Development at 218-726-7298 or toll free 1-888-387-4594 to make arrangements.