News

Expanded 1099 Reporting Requirements: Whose Idea Was This Anyway?

A group of senators has written to IRS Commissioner Douglas Shulman complaining about the new 1099 filing requirements, which were passed into law by – who was that again? Oh, right - those same senators.

Posted by: Mariette Knoblauch, July 28, 2010

Comments: 1

IRS Invites Public Comment on New 1099 Requirements

...Well, they asked for it.
As we've been following closely here at Outright, one provision of the new healthcare reform bill expands the requirements for 1099 reporting. Starting in 2012, businesses and sole proprietors will have to file 1099-Misc forms for everyone they spend $600 or more with, even large corporations like Costco, for purchases of [...]

Posted by: Mariette Knoblauch, July 12, 2010

Comments: 5

Is the Government Forcing You to Get a Credit Card?

Here at Outright, we’re already expressed our concern over the new Healthcare Bill’s tax reporting requirement that small business owners issue 1099’s to any vendor to whom they pay over $600 in the course of the year. This would mean that not only do small business owners have to issue a form 1099 – the [...]

Posted by: Jennifer Escalona, July 8, 2010

Comments: 9

Why Is Congress Raising Taxes on Small Businesses?

The House has just passed the ironically named  “American Jobs and Closing Tax Loopholes Act of 2010," which will raise taxes on small service businesses, while renewing a bunch of tax breaks for various special interests. It extends payroll taxes to all distributions from S corporations to members, rather than only on the salary portion, [...]

Posted by: Mariette Knoblauch, June 1, 2010

Comments: 4

What the “Debit Fee Cut” means for Stores

Big news broke last Thursday that a 64-33 vote by the Senate may force credit card companies to reduce fees on debit card transactions and allow merchants to pass on the savings to their customers by offering a discount depending on the payment method they choose.
As reported by Bloomberg Business Week, Senator Richard Durbin, who [...]

Posted by: Justine Smith, May 19, 2010

Comments: 2

What’s in the 2011 Federal Budget for Small Business?

The president has released the 2011 federal budget with a significant number of changes in federal tax laws that will impact self employed individuals and small businesses.  Here is a highlight of some of the proposed changes.

Make the $250,000 Section 179 capital asset deduction permanent.  Section 179 provides that, in place of capitalization [...]

Posted by: Wray Rives, February 2, 2010

Top 10 Things to Consider When Starting Your Own Business

Outright’s CEO and co-founder, Kevin Reeth, was on WGN News today to talk about the “Top 10 Things to Consider When Starting Your Own Business.”

Have an honest conversation with yourself
Figure out your value proposition
Find a paying customer
Build your network and pipeline, not with advertising but with Linkedin, Facebook, and Twitter profiles
Delight every customer
Set up a [...]

Posted by: Paul O'Brien, January 25, 2010

Comments: 0

Outright Raises $5.5M with Sequoia Capital

This year has experienced tremendous demand for cost effective small business solutions because of the growing ranks of unintentional entrepreneurs. Advancements in open platform technology have also given a slew of start-ups the ability to create alternatives to expensive software. We’re excited to share that the VC community has taken notice, offering backing to a [...]

Posted by: Paul O'Brien, November 16, 2009

Outright featured in new Software for Small Business Owners

A new software package designed for budding entrepreneurs, ‘Start, Run & Grow Your Business’ (SRG) has been released by Palo Alto Software. Containing over 45 software tools to help entrepreneurs and small businesses get up and running, SRG is one of the most comprehensive small business toolkits ever assembled.
Palo Alto Software, develops, publishes, and [...]

Posted by: Paul O'Brien, October 13, 2009

Watch Out for a Small Business Mail Scam

Here’s a quick warning for all small business owners: treat your post box as you would your email box, warily. The State of California sued eight people and six businesses last week for operating mail scams targeting small business owners.
The state seeks to collect $3 million from the defendants, who are accused of mailing [...]

Posted by: Jennifer Escalona, October 12, 2009