Domain Name – Factors to Consider

Having a domain name is critical especially when you’re running an Internet business. People have less credibility on business owners or sellers who don’t have their own domain name.

Then, how should you choose a good domain name for your business? Some of them that you can think of might not be available any more but among the ones that are available, follow these tips to choose the best one for you.

Try to find a domain that includes one of major keywords applicable for your business.
This will definitely make visitors remember your domain better than a domain with no keyword contained. It is believe that the major search engines rank you higher if your domain has a relevant word with keywords that users type.

Domain that contains numbers
(1) Avoid a domain name that contains the digit ‘0′ because it can be confused with the vowel ‘O’. It’s okay that the digit is a part of a work such as 100 or 2000. If you need to register domain with ‘0′, you may want to register the corresponding domain with the vowel ‘O’ and forward that site to your main site.

(2) Avoid a domain name that contains ‘2′ for ‘to’, ‘4′ for ‘for’ or ‘u’ for ‘you’ because it can be confusing.

(3) A domain name that starts with ‘1′ or ‘1st’ is a good choice. Many web directories classify web sites by listing them in the alphabetic order. Few sites start with ‘0′ so the chances are that your site will be listed in the first a few sites if your domain starts with ‘1′ or ‘1st’. ‘1st’ can also sound that your site provides good quality of services or products.

Try to use ‘.com’ rather than ‘.biz’, ‘.us’, ‘.to’, ‘.net’ and ‘.org’ simply because ‘.com’ sounds more reliable.

Try not to make your domain too long. There will be visitors who come to your site by typing your domain at the address bar rather than by clicking a link from other sites, i.e. search engine sites. You wouldn’t want to annoy your visitors by making them type a long domain name that has more than thirty letters.

Hyphen It’s a common belief that people prefer a domain name without hyphens. Domains with hyphens are more difficult to remember or spell. But they can also be easier to remember. It depends on an individual. Just don’t register a domain that its corresponding one without hyphen is already registered. Also if you want to choose a domain with hyphens, try to register the corresponding domain without hyphens, too.

Source

Domain Name – Factors to Consider

Having a domain name is critical especially when you’re running an Internet business. People have less credibility on business owners or sellers who don’t have their own domain name.

Then, how should you choose a good domain name for your business? Some of them that you can think of might not be available any more but among the ones that are available, follow these tips to choose the best one for you.

Try to find a domain that includes one of major keywords applicable for your business.
This will definitely make visitors remember your domain better than a domain with no keyword contained. It is believe that the major search engines rank you higher if your domain has a relevant word with keywords that users type.

Domain that contains numbers
(1) Avoid a domain name that contains the digit ‘0′ because it can be confused with the vowel ‘O’. It’s okay that the digit is a part of a work such as 100 or 2000. If you need to register domain with ‘0′, you may want to register the corresponding domain with the vowel ‘O’ and forward that site to your main site.

(2) Avoid a domain name that contains ‘2′ for ‘to’, ‘4′ for ‘for’ or ‘u’ for ‘you’ because it can be confusing.

(3) A domain name that starts with ‘1′ or ‘1st’ is a good choice. Many web directories classify web sites by listing them in the alphabetic order. Few sites start with ‘0′ so the chances are that your site will be listed in the first a few sites if your domain starts with ‘1′ or ‘1st’. ‘1st’ can also sound that your site provides good quality of services or products.

Try to use ‘.com’ rather than ‘.biz’, ‘.us’, ‘.to’, ‘.net’ and ‘.org’ simply because ‘.com’ sounds more reliable.

Try not to make your domain too long. There will be visitors who come to your site by typing your domain at the address bar rather than by clicking a link from other sites, i.e. search engine sites. You wouldn’t want to annoy your visitors by making them type a long domain name that has more than thirty letters.

Hyphen It’s a common belief that people prefer a domain name without hyphens. Domains with hyphens are more difficult to remember or spell. But they can also be easier to remember. It depends on an individual. Just don’t register a domain that its corresponding one without hyphen is already registered. Also if you want to choose a domain with hyphens, try to register the corresponding domain without hyphens, too.

Source

How to Name Your Business

Make it informative and meaningful.
It’s easier to remember when your business name reminds customers of your goods or services. Make it meaningful and easy to remember.

Some experts vote for abstract names, but it will take more efforts to do efficient and creative marketing for it. Yet, when the business marketing is successful, the name will be more unique, hence it will leave a strong impression to people.

Consider to make it reflect your brand.

Consider names that reflect values, quality of products and services that your business provides. For example, Hearty Vitamin Shop sounds more health-oriented than Jenny’s Vitamin Shop.

Check domain availability.
More about how to choose domain name

Legal issues
If you’re setting a corporation , limited partnership or LLC, your business name should comply with state name rules. Also, remember to check trade name regulations.

Leave a room to expand.
This can be significant for some people and not for others. It can be a good idea to make your business broad enough to expand to other fields even though you don’t expect that to happen any time soon. If the name is too meaningful or too specific, you might need to set up a new business in case of expanding your business.

Consulting with naming professionals.
It’s a good idea to check with experts of naming companies. If you’re not sure about your idea or you think you need to clear up in regard to possible legal issues. Although it costs money, naming experts will guide you to make a solid decision. Another benefit of using naming firms is that experts will provide you with legal advice.

By Russell, May 2, 2009 @ 8:07 am

I just wanted to say Thany You Very Much! I have been looking for some good and free information. Your website has giving me hope to start an online business. I have two great ideas and no money.

Source

How to Name Your Business

Make it informative and meaningful.
It’s easier to remember when your business name reminds customers of your goods or services. Make it meaningful and easy to remember.

Some experts vote for abstract names, but it will take more efforts to do efficient and creative marketing for it. Yet, when the business marketing is successful, the name will be more unique, hence it will leave a strong impression to people.

Consider to make it reflect your brand.

Consider names that reflect values, quality of products and services that your business provides. For example, Hearty Vitamin Shop sounds more health-oriented than Jenny’s Vitamin Shop.

Check domain availability.
More about how to choose domain name

Legal issues
If you’re setting a corporation , limited partnership or LLC, your business name should comply with state name rules. Also, remember to check trade name regulations.

Leave a room to expand.
This can be significant for some people and not for others. It can be a good idea to make your business broad enough to expand to other fields even though you don’t expect that to happen any time soon. If the name is too meaningful or too specific, you might need to set up a new business in case of expanding your business.

Consulting with naming professionals.
It’s a good idea to check with experts of naming companies. If you’re not sure about your idea or you think you need to clear up in regard to possible legal issues. Although it costs money, naming experts will guide you to make a solid decision. Another benefit of using naming firms is that experts will provide you with legal advice.

By Russell, May 2, 2009 @ 8:07 am

I just wanted to say Thany You Very Much! I have been looking for some good and free information. Your website has giving me hope to start an online business. I have two great ideas and no money.

Source

LLC – Get Full Liability Protection From Your LLC

One of the most significant reasons to form Limited Liability Company (LLC) is to get liability protection. As a corporation provides a legal shield against their shareholders’ assets, an LLC offers legal protection for the owner’s or members’ personal assets from business claims or debts. The risk of the LLC owner and members is generally limited to the amount of their investment.

However, when your business is in a trouble such as a lawsuit, the court might go after you and your personal assets, especially if you have a single member LLC and haven’t followed certain rules with your LLC.

Here are some important basic rules to follow when you have a single member LLC:

1. Create separate business banking accounts and credit card accounts. When you open them, use your EIN, not SSN. An EIN is a federal employer ID number issued by the IRS. You can get it fast and easy from the IRS website or over the phone. With the EIN, you don’t have to worry about your SSN passing around among your clients, and your business accounts look more adequate.

2. Fund your limited liability company adequately. Don’t intermingle your LLC funds with your personal transactions. When you receive payments from your customers, make sure payments are made to your company name, not to you.

3. Be clear with books. Keep your personal transactions from the company accounting books. Buy supplies, parts or equipments using your business bank account checks or business credit cards. Not only it differentiate your business from you, but your LLC can also build credit history.

4. Use your company name when you sign any contracts or agreements. Look carefully if it has a provision of personal guarantee.

5. Keep your limited liability company records and documents properly.

Source

LLC – Get Full Liability Protection From Your LLC

One of the most significant reasons to form Limited Liability Company (LLC) is to get liability protection. As a corporation provides a legal shield against their shareholders’ assets, an LLC offers legal protection for the owner’s or members’ personal assets from business claims or debts. The risk of the LLC owner and members is generally limited to the amount of their investment.

However, when your business is in a trouble such as a lawsuit, the court might go after you and your personal assets, especially if you have a single member LLC and haven’t followed certain rules with your LLC.

Here are some important basic rules to follow when you have a single member LLC:

1. Create separate business banking accounts and credit card accounts. When you open them, use your EIN, not SSN. An EIN is a federal employer ID number issued by the IRS. You can get it fast and easy from the IRS website or over the phone. With the EIN, you don’t have to worry about your SSN passing around among your clients, and your business accounts look more adequate.

2. Fund your limited liability company adequately. Don’t intermingle your LLC funds with your personal transactions. When you receive payments from your customers, make sure payments are made to your company name, not to you.

3. Be clear with books. Keep your personal transactions from the company accounting books. Buy supplies, parts or equipments using your business bank account checks or business credit cards. Not only it differentiate your business from you, but your LLC can also build credit history.

4. Use your company name when you sign any contracts or agreements. Look carefully if it has a provision of personal guarantee.

5. Keep your limited liability company records and documents properly.

Source

Business Expenses and Tax Deduction

Business Expenses – What Expenses are Tax-Deductible?

The more business expenses you legitimately deduct, the lower your taxable income will be. Here is a summary of business expenses that you may deduct to lower taxable profit.

Business Expenses
Expenses to Run Business
Auto Expenses (Cars and Trucks)
Legal and Professional Services
Commissions and Fees
Travel Expenses
Meals and Entertainment
Education Expenses
Taxes and Licenses
Insurance
Bad Debts from Sales or Service
Interest
Software

Expenses to Run Business
This refers to expenses that go into business when you operate business.

Advertising and Promotion
Office Supplies (Office Expenses): consumable supplies such as pens, pencils, paper, pads, books, receipt books, or related supplies
Utilities: including telephone, electricity, gas, water, or sewer on business property.
Repairs

You can deduct these current expenses only after you’ve started running business.

Notes: If you spent money in these areas to get your business started, you can deduct the cost as startup expenses, up to $5000 for the first year. The rest of it should be deducted in equal amounts over the next 15 years.

Auto Expenses (Cars and Trucks)
There are two methods for claiming car and truck expense when you use them for business purpose or your business owns them.

Actual expense method: You can deduct the business portion of all the actual expenses paid, including gas, oil, tires, repairs, insurance, licenses, and cleaning. The lease amount can be deductible as well for leased vehicles. If the business owner owns the car, they may deduct its depreciation.

Standard mileage rate method (Optional method): You can deduct a certain percentage of each mile driven. You may deduct business-related parking fees and tolls as well. The standard mileage rate is 50.5 cents per mile for January 1, 2008 through June 30, 2008.

Additional expenses – Generally, the standard mileage rate method is regarded to cover most of the expenses listed under the actual method. However, these expenses may be deducted under either method.
– Business portion of any finance charges paid on the purchase of the vehicle.
– Business portion of any personal property tax on the vehicle.
– Parking fees and tolls

Legal and Professional Services
Fees paid to tax professionals, attorneys, or consultants can be deducted in the year incurred. If the service is related to future years, it must be deducted over the period that the benefit lasts.

Commissions and Fees
Referral fees or payments paid to independent contractors or individuals can be deductible in the year incurred. This doesn’t include commissions or fees paid to employees.

Travel Expenses
You can deduct travel expenses such as plane tickets, accommodations, transportation, meals or telephone calls when you travel for business. You may combine business and entertainment as long as business is the primary reason of the trip.

Meals and Entertainment
When there are clear business purposes, you may deduct entertainment expenses such as meals or amusement costs that are spent for present or prospect clients or customers. Business discussion must be held immediately before, after or during the entertainment. Tax deduction of entertainment cost is generally limited to 50% of the total expenses.

– The cost of business promotion gifts to present or prospect clients or customers can be deducted up to $25 per client per year.
– Tickets to shows, events, or sports games given to clients for business promotion purpose can be deducted.

Education Expenses
Education expenses can be deducted if they are related to your current business or trade. They are not deductible if education is for a new job qualification.

Taxes and Licenses
Here is the list of various taxes that you may deduct.

– Real estate tax imposed on property used for business.
– State or local tax on gross income.
– Federal income tax paid on business income is not deductible. State income tax on business income can be deducted as an itemized deduction, but not as a business expense.
– Sales tax on items for everyday business operations can be deducted as part of the cost of the items, but not deducted separately.
– Employer’s share of employment taxes (Self-employment is not a business expense because the tax is paid by individuals, not their businesses.)

Insurance
You may deduct insurance premiums as an operating expense when it’s for protection of the business against losses, such as fire, flood, theft, credit, public liability, workers’ compensation, merchandise and inventory, employees disability, or malpractice.

Bad Debts from Sales or Service
You can deduct the cost of sold goods that aren’t paid for when your business is selling goods, not providing service.

Interest
– Mortgage interest is deductable for the property used for business.

Note: If it’s a home-based business, the business portion of mortgage interest is not included here. It should be deducted as a part of the business-use-of-home deduction.

– Financial charges on credit cards or interest paid on installment can be deductible if their purchases are made for business.

Software
In general, software paid for business purpose must be depreciated over a 36-month period.

By Jame, March 25, 2009 @ 3:18 am

Hi there, Thanks for sharing your experience!

Jame

Source

Business Expenses and Tax Deduction

Business Expenses – What Expenses are Tax-Deductible?

The more business expenses you legitimately deduct, the lower your taxable income will be. Here is a summary of business expenses that you may deduct to lower taxable profit.

Business Expenses
Expenses to Run Business
Auto Expenses (Cars and Trucks)
Legal and Professional Services
Commissions and Fees
Travel Expenses
Meals and Entertainment
Education Expenses
Taxes and Licenses
Insurance
Bad Debts from Sales or Service
Interest
Software

Expenses to Run Business
This refers to expenses that go into business when you operate business.

Advertising and Promotion
Office Supplies (Office Expenses): consumable supplies such as pens, pencils, paper, pads, books, receipt books, or related supplies
Utilities: including telephone, electricity, gas, water, or sewer on business property.
Repairs

You can deduct these current expenses only after you’ve started running business.

Notes: If you spent money in these areas to get your business started, you can deduct the cost as startup expenses, up to $5000 for the first year. The rest of it should be deducted in equal amounts over the next 15 years.

Auto Expenses (Cars and Trucks)
There are two methods for claiming car and truck expense when you use them for business purpose or your business owns them.

Actual expense method: You can deduct the business portion of all the actual expenses paid, including gas, oil, tires, repairs, insurance, licenses, and cleaning. The lease amount can be deductible as well for leased vehicles. If the business owner owns the car, they may deduct its depreciation.

Standard mileage rate method (Optional method): You can deduct a certain percentage of each mile driven. You may deduct business-related parking fees and tolls as well. The standard mileage rate is 50.5 cents per mile for January 1, 2008 through June 30, 2008.

Additional expenses – Generally, the standard mileage rate method is regarded to cover most of the expenses listed under the actual method. However, these expenses may be deducted under either method.
– Business portion of any finance charges paid on the purchase of the vehicle.
– Business portion of any personal property tax on the vehicle.
– Parking fees and tolls

Legal and Professional Services
Fees paid to tax professionals, attorneys, or consultants can be deducted in the year incurred. If the service is related to future years, it must be deducted over the period that the benefit lasts.

Commissions and Fees
Referral fees or payments paid to independent contractors or individuals can be deductible in the year incurred. This doesn’t include commissions or fees paid to employees.

Travel Expenses
You can deduct travel expenses such as plane tickets, accommodations, transportation, meals or telephone calls when you travel for business. You may combine business and entertainment as long as business is the primary reason of the trip.

Meals and Entertainment
When there are clear business purposes, you may deduct entertainment expenses such as meals or amusement costs that are spent for present or prospect clients or customers. Business discussion must be held immediately before, after or during the entertainment. Tax deduction of entertainment cost is generally limited to 50% of the total expenses.

– The cost of business promotion gifts to present or prospect clients or customers can be deducted up to $25 per client per year.
– Tickets to shows, events, or sports games given to clients for business promotion purpose can be deducted.

Education Expenses
Education expenses can be deducted if they are related to your current business or trade. They are not deductible if education is for a new job qualification.

Taxes and Licenses
Here is the list of various taxes that you may deduct.

– Real estate tax imposed on property used for business.
– State or local tax on gross income.
– Federal income tax paid on business income is not deductible. State income tax on business income can be deducted as an itemized deduction, but not as a business expense.
– Sales tax on items for everyday business operations can be deducted as part of the cost of the items, but not deducted separately.
– Employer’s share of employment taxes (Self-employment is not a business expense because the tax is paid by individuals, not their businesses.)

Insurance
You may deduct insurance premiums as an operating expense when it’s for protection of the business against losses, such as fire, flood, theft, credit, public liability, workers’ compensation, merchandise and inventory, employees disability, or malpractice.

Bad Debts from Sales or Service
You can deduct the cost of sold goods that aren’t paid for when your business is selling goods, not providing service.

Interest
– Mortgage interest is deductable for the property used for business.

Note: If it’s a home-based business, the business portion of mortgage interest is not included here. It should be deducted as a part of the business-use-of-home deduction.

– Financial charges on credit cards or interest paid on installment can be deductible if their purchases are made for business.

Software
In general, software paid for business purpose must be depreciated over a 36-month period.

By Jame, March 25, 2009 @ 3:18 am

Hi there, Thanks for sharing your experience!

Jame

Source