Here are a few lessons that small and large business leaders can take from Mark Zuckerberg’s example:
1. An unwavering dedication to the company’s vision.
“The one thing we can take from Mark is complete belief in what he is doing and his determination to succeed,” says Craig Libis, CEO of Executive Recruiting Consultants.
2. Just because you’re the boss, doesn’t mean you are finished learning.
Some CEOs and business owners let their egos (and pride) get the best of them to the point where it not only detracts from the business, it is downright harmful.
One thing new entrepreneurs fail to consider is just how much, and how often they will pay state and federal taxes. The estimated tax payment requires some to pay in quarterly throughout the year. Business Insider breaks down the information for you.
Who has to pay estimated tax payments?
The rules for estimated tax payments vary based on business type:
For sole proprietors, partnerships, S Corporation shareholders, single member LLCs who elect to be taxed as a sole prop or an S corporation, or multi-member LLCs who elect to be taxed as a partnership or an S corporation: If you expect to owe $1,000 or more in taxes when you file your income tax return, you most likely will need to make estimated tax payments to the federal government (and potentially your state government too). There's one exception: if your witholdings and tax credits add up to as least as much as your prior year's tax, you do not need to made a federal estimated tax payment.
For C Corporations and multi-member LLCs who elect to be taxed as a C Corporation: If you own a Corporation, you will need to make estimated tax payments if you expect to owe $500 or more with your tax filing.
How to Pay
If you're filing as a self-employed individual or disregarded entity (i.e. single-member LLC, partnership, or S Corp shareholder), you should complete Form 1040-ES. This form contains blank vouchers for mailing your estimated tax payments. You can also make your payments using the Electronic Federal Tax Payment System (EFTPS). For your state payment, you have to search online for the appropriate form, complete it and send it in with your payment.
Corporations must submit their payments using EFTPS, or can arrange for a tax professional, financial institution, payroll service, or other trusted third party to make deposits on their behalf.
When it comes to technology, Apple has been looking toward the future for a long time. The car is no different, reports Cnet.
The project joins a short list of others that did not come to fruition ahead of Jobs’ death last October, but have since been revealed. Per a conversation noted in Walter Isaacson’s biography of Jobs last year, the CEO and inventor was also eyeing a TV set, which Apple is rumored to still be working on. Jobs had also worked with French designer Philippe Starck to architect the interior design of a yacht, a project that has since been taken over by Jobs’ wife.
Apple has historically been hands-off in developing any specific technologies for automobiles, though during the iPod’s boom years the company dabbled in partnerships that more deeply integrated the device inside of automobiles. A more recent effort by Mercedes-Benz aims to integrate Siri, Apple’s voice assistant for the iPhone 4S, in the company’s A-Class cars.
When it comes to the government, small businesses can expect to full out a mountain of paperwork for anything from accreditation to government contracts. Politico recently shared an idea for a common application they think would help.
The Small Business "common app" would function much like the one that students complete to apply to multiple colleges and universities simultaneously. It would ensure that small businesses across the country can concentrate on growing and creating jobs — not wasting time, filling out mountains of repetitive paperwork.
This legislation would allow them to apply for research and development grants and government contracts through multiple federal agencies with a single application.
For small businesses struggling after natural disasters that seek federal assistance to get back on their feet, this bill could eliminate the need to file, and re-file, the same information in different forms with multiple government agencies. In the wake of deadly tornados, hurricanes or violent storms, small businesses should not have to worry about fighting bureaucratic hurdles to get the help they need.
Do you think a universal-style application would help?
