Home > Entrepreneur Daily > November 19, 2007

Entrepreneur Daily

Many Businesses Overpay IRS

(Business News, Events and Resources, HR and Management)

Could your company be paying too much in taxes? Profit Alliance Recovery Consultants say the bulk of both large and small businesses are paying too much. Their top auditors check out other companies' tax filings and expenses at no charge. On average, they're finding businesses overpay thousands, if not tens of thousands of dollars each April. "It is truly a multi-billion dollar epidemic that is costing the average consumer nearly $10,000 per year," said Kristen Lain, president and CEO of Profit Alliance.

Profit Alliance has come up with an interesting solution as a result of their research--they're offering companies free audits. If the numbers they come up with match those of the company they're auditing, the company pays nothing. If, however, they find overpayment, Profit Alliance gets a share of the savings that can still be reclaimed from the IRS.

Online Retailers Prep for Cyber Monday

(Business News, E-Commerce, Marketing)

As we mentioned  in a blog last week, online retailers are prepping for the beginning of the holiday shopping season in full force. A  USA Today  article  says Black Friday isn’t the only day websites are gearing up for. For some, it's all about Cyber Monday, the Monday after Thanksgiving, when many shoppers start perusing websites for online holiday deals.

This Cyber Monday, the National Retail Federation predict that one-third of internet shops will offer e-mail campaigns and about 30 percent will have special one-day sales. Many online retailers are also planning to launch free shipping for the remainder of the season on that day. One reason shops are so anxious to promote deals is a fear the weak economy could hurt seasonal sales. "Retailers are so worried about people being very thrifty this Christmas and spending less than last year," said Daniel de Grandpre, editor of dealnews.com.

Gift-Giving Etiquette for Small Biz

(HR and Management)

It's that time of year again. The time for holiday parties, eggnog and of course, giving gifts. Perhaps even more confusing than picking out gifts for loved ones is finding that perfect gift for an employee, client or important vendor. How much should you spend? How personal can you get? These are all questions Diana Martin, founder of corporate gifting boutique  Prezents Inc.deals with as a gifting expert.

Here are her holiday gifting "Do's" and "Don'ts":

Do…

  • Make it personal--Write a thoughtful note that briefly talks about the gift and why this gift is special.
  • The style factor--Understand the corporate branding and style of your client. Are they more traditional and classic? Contemporary? Innovative and leading edge?  Coordinate the gifts to represent the corporate image.
  • Presentation is everything--Don’t just give a gift without thinking about presentation. Presentation plays such a big role in regard to the respect you render to the recipient. Think of it as a first impression.

Don't…

  • Don’t be the white elephant in the room--Avoid gifts that are political, sexual or religious in nature.
  • Pass up the urge to put your logo on everything. Be sensitive about using your company logo on the gift, especially on a gift for the home. 
  • Avoid a raid by the gift police--Check with your gift recipient’s corporate gift policies to avoid any embarrassments. Fearing manipulation and bribery, a company may have strict limits.

Entrepreneur.com wants to make your gift-giving less stressful this holiday season too. Check out  our annual holiday gift guide, which is broken down by cost to find the perfect gift for your employees, clients, or even yourself.