Business Plans and Small Business Funding for Internet Business

Written by Mat Siltala

Continued from page 1

The second problem is that most people do not put enough effort into truly planning their business. The old adage states, “If you fail to plan, you plan to fail.” Unfortunately for some this is usually true. One ofrepparttar reasons “eplanit” has discovered forrepparttar 150925 general lack of Internet business planning isrepparttar 150926 scarcity of “Internet” specific business plans. So Dane, Dave, Mike, and Mat created “eplanit” a business plan software designed specifically for Internet business start-ups. The software features 109 questions, which upon being answered lead an entrepreneur successfully through thinking through their Internet business. The software can be downloaded, and is compatible with both Macs and PC's.

The combination funding report, and Internet business planning software has now been used by over 500 small business start-ups and has been well received by those using it. Like Diane who said "The template helped me keep my course and objectives for my business plan on track, and concise. It was very helpful to read allrepparttar 150927 questions in each section, and then writerepparttar 150928 sections one at a time. It's easy to get off on tangents when you have more than one thing to focus on, andrepparttar 150929 plan worked for me."

Internet marketing guru with sites to his name such as and www.rockymountainmattress Mat Siltala knows what it takes to have a successful internet business and how to find the funding needed

For Entrepreneurs A Simple IRA May Be Best

Written by Tim Knox

Continued from page 1

My preferred type of retirement plan isrepparttar Savings Incentive Match Plan for Employees or SIMPLE IRA. The SIMPLE IRA was created to make it easier for small businesses with 100 or fewer employees to offer a tax-advantaged, company sponsored retirement plan.

With a SIMPLE IRA you and your eligible employees may contribute up to 3% of earned income (with a maximum contribution of $10,000) on a pre-tax basis to individual SIMPLE IRAs. You must deduct Social Security and Medicaid from your gross income, but you can then make your SIMPLE IRA contribution before other taxes are levied, effectively lowering your taxable income.

Asrepparttar 150886 employer you must make “matching” or “non-elective” contributions into your employees’ SIMPLE IRA accounts. Matching contributions means thatrepparttar 150887 business matchesrepparttar 150888 elective deferral contributions made by employees. For example, ifrepparttar 150889 employee opts to contribute 3% of his salary torepparttar 150890 plan,repparttar 150891 employer must matchrepparttar 150892 3% contribution.

At first you might cringe at matching your employees’ contributions, but asrepparttar 150893 business owner and an employee yourself this can be great news. As an employee of your own business you can contribute up to $10,000 to your SIMPLE IRA andrepparttar 150894 business can then match your contribution dollar-for-dollar, which means that you can put up to $20,000 in tax free dollars intorepparttar 150895 plan per year. The cost ofrepparttar 150896 contributions is also deductible as a business expense.

The non-elective contribution option requires thatrepparttar 150897 company contribute 2% of every employee’s earned income torepparttar 150898 plan onrepparttar 150899 employee’s behalf regardless of whether or notrepparttar 150900 employee contributes torepparttar 150901 plan himself. For 2005repparttar 150902 maximum contribution you would be required to make is $4,200.

Like a traditional IRA, you can withdraw money from a SIMPLE IRA at any time; however distributions withinrepparttar 150903 first two years of participation are subject to higher early withdrawal penalties than traditional IRAs or Roth IRAs. Withdrawals withinrepparttar 150904 first two years are subject to a 25% early withdrawal penalty. Withdrawals taken afterrepparttar 150905 first two years are subject to a 10% early withdrawal penalty.

Asrepparttar 150906 employer,repparttar 150907 advantages of a SIMPLE IRA include: company contributions torepparttar 150908 plan are tax deductible as a business expense; plan documents are simple and easy to administer; administration costs are low; and there is no government reporting required byrepparttar 150909 employer.

The advantages of a SIMPLE IRA for your employees include: contributions are immediately 100% vested; contributions and earnings are tax-deferred until withdrawal; employees can contribute 100% of earned income up to $10,000 for 2005; and employees can direct their own investments withinrepparttar 150910 IRA.

This is a complex topic and I’ve just tippedrepparttar 150911 iceberg here, but hopefully this will give you enough information to getrepparttar 150912 investment ball rolling.

Here’s to your success!

Tim Knox

Tim serves as the president and CEO of three successful technology companies and is the founder of, an online organization dedicated to the success of online and eBay entrepreneurs. Related Links:

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