NextGen Wholesale Blog

Since Far Cry 2 was leaked a week ago more details have been revealed about the game itself here are all the classes and details about them.

This is the official and final list of all gears of war 2 weapons information compiled from the Gears of War 2 game manual and also the website.

With a focus on trap deployment and confusing free-for-all multiplayer, this doesn’t feel much like a Tenchu game at all.

The Eastern Realm expansion is the lone highlight of this Gold Edition of last year’s The Settlers: Rise of an Empire.

Hope everyone is doing well getting ready for the holidays. I’ve gotten a few emails lately about if I went the S Corp or C Corp route so I thought I’d do a little write up on the subject.

A 2005 report stated that there are over 150 million home business owners in the United States, and the average income of each reaches over $60,000 a year. Because many home-based businesses are making their way into the market, there is a need for business owners to think of strategies to have that edge over the competition. Not only that, should you decide to incorporate, you should know the type of corporation that best suits your business.

When you incorporate your business, you are giving it the ability to have an unlimited lifespan, and the ownership can easily be transferred in certain cases, such as sale by the owner, or his death. Plus, a corporation can raise its capital in a more efficient way by selling stocks. When running your business at home, there are two types of corporations which you can opt to apply for: it can either be as an S Corporation (S Corp) or a C Corporation (C Corp). Stated below are some comparisons and explanations to help you choose between S corp or C corp.

You may want to know what S corp benefits you can get if you apply for this type of corporation. Under Chapter 1, Subchapter S of the US Internal Revenue Code, an S corp is not subject to paying taxes. In order for a company to be eligible for S corp application, it should have no more than 100 share holders, all of which should be US citizens, and may also include family members of the owner. There is no income tax deducted from income generated from an S corp, but the profits are distributed among the existing shareholders. It then becomes the responsibility of the shareholders to pay the income tax.

Another benefit of an S corp is that setting it up is not expensive, you can apply for this by preparing necessary documentation and pay the filing fees as required by your state, which can be from $100 to $400, depending on your area. As an S corp, you are required by the Federal Insurance Contributions Act (FICA) to pay a certain percentage of your income to social security and Medicare of your employees, so the tax is withheld for your employees.

What then are the C corp benefits that you can avail of? Both the S corp and C corp give your business perpetual life, but a C corps does not impose a limit to the number of shareholders it can have. Aside from that, the shareholders of C corporations are not restricted to US citizens and/or residents. Though S corporations cannot be owned by other S corporations or C corporations, this is not the case for a C corp. Also, a C corp can have multiple stock classes, and are not restricted to voting and non-voting owners.

However, a C corp may be subjected to double taxation, because income at the corporate level is already taxable, and when the shareholders get their share of the profits, they are also obliged to file for income tax. Also, the FICA does not apply to employees of C corporations.

Things to Know about Tax Write Offs for Your Business at Home

When a home-based business gathers expenses for a multitude of purposes, and when these expenses are coupled with income tax rates, the situation often leaves the owner in a rut. Because several business shell out large payments for business-related concerns, such as transportation, communications, travel, and others, there are ways by which the heavy burden of income tax can be lessened. This is how tax write offs can help you and your business at home.

Simply speaking, a tax write off means that a portion of incurred expenses related to business like meals on a business trip, airline tickets, phone and internet bills, and others, can be deducted from your income so you don’t have to pay as much for taxes. For instance, if your home-based business has an annual taxable income of $40,000, and you spend a yearly fee of $100 for your internet services, the taxable income of your business is now $39,900. In a way, your internet bill will seem to cost less, and depending on your tax bracket, there will be a percentage of your tax due that you don’t need to pay for.

So how can you consider an expense to be eligible for a tax write off? Is there a way for you to write off your cell phone bill? Note that in order for you to write off some of your expenditures, you need to justify the purpose of each one, and you have to appropriately label them as related to your business. Here are some examples of what you can do to successfully write of some of your business-related expenses.

First, if you run a business from home, the probability that you use the phone for transactions is high. If you have a high need for a phone line for your home office, it is recommended that you apply for a separate one apart from the line you allot for residential use. That way, when the phone bill arrives, you can easily justify that the bulk of calls were made for business purposes. Regarding your cell phone, you should also carefully keep track of the numbers you dial, as the IRS may examine your cell phone bill. Try to keep personal calls from your cell at a minimum.

If you’re running a home-based business like I am, chances are that you spend more than you actually should when it comes to shipping your orders. Many home business owners are concerned about shipping rates, especially when international orders are under consideration. Two of the most commonly used shipping services in the United States are Federal Express (FedEx) and the United Parcel Service of America (UPS). Did you know that you as a home business owner can qualify for discounts on your shipments from these two companies?

FedEx has a promo that gives American Express card users an automatic 5% discount on ground shipments, express shipments, and Kinko’s services such as print and office services. But if you don’t have an AmEx card, you can still apply for their discount program, where you can get an additional 5% discount on selected services. You can do this by calling their toll-free number or by filling up the online application form. When you sign up for a fedex.com account, you can also save up to 15% on your shipments done online. There are other options available for you to determine if you can apply for cheap FedEx shipping. While it may not sound like much, when you sell a large number of products on eBay, the costs and savings add up very quickly.

UPS also offers an online account where you can sign up by filling their form on their site. Members of the UPS account can avail of up to 20% discount from selected services, such as Next Day Air Package, World Wide Express, and 2nd Day Air Letter and Package. In addition to that, eBay offers suggestions to Paypal account holders on how they can avail of UPS discounts, by opening a UPS account. If eligible, the seller can save up to 31% in shipping costs for Ground, Priority Mail, or Parcel Post services. Cheap UPS shipping can be easily obtained by home-based business, given that they fit specific criteria.

It is also recommended that in order for your business to be eligible for larger discounts, you should be a regular client of FedEx or UPS for several months, sometimes a minimum of four months. Check out their corporate websites and see how you can qualify for more savings on your business shipments.

http://www.ups.com

http://www.fedex.com
 

The question arises as to which is better for the sole proprietorship or small business owner looking at wholesale purchasing and retail sales, wholesaling or drop shipping? It stands to be said it all depends upon your products, market, and customers. Most important, what is the status of your current suppliers? Are your products coming from a reliable hand, an old friend, a business associate or partner that you can trust? Is their supply secure and renewable? Are the costs fixed and easy to estimate? If there is no security, no established network for supply, or the suppliers for your business are still being researched and evaluated, then it may make sense to look into drop shipping to build your business. Are you ready to invest in the warehouse space, staff, transportation costs, utility bills, and so many other issues that have to be budgeted with a bricks and mortar operation? If not, then drop shipping is a viable alternative.

With drop shipping you do not need to have any warehouse space, staff, or inventory. You can check with drop shippers, see what products they have in stock and at what prices, and then resell those products on your own. When an item sells, you simply contact the drop shipper, pay the agreed upon price, and the drop shipper posts it to the customer. It sounds excellent, but there are many worries. While you do not need inventory, warehouse, and staff, you are also reliant on other businesses’ infrastructure. Drop shippers offer their products at a fixed price publicly, thus every other drop shipper will be ordering the same products as you with the same terms. Are you able to compete with other sellers at these prices? Is the business really there to make it worth your while? In comparison with wholesaling, the opportunities for business growth and ales expansion are limited and uncertain with drop shipping.

With wholesaling you have the opportunity to actively work and create your own procurement network and distribution channels. If your products are excellent and the price lower than market value, then the details will depend on your customer service and sales manager relationship. Just as online networks changed drop shipping from a relatively unknown and unused practice to a booming industry, so too the internet has made for many changes for wholesalers. Wholesalers can now reach retail outlets almost anywhere in the world.

Wholesalers will be dependent on their means for distributing products. Some may choose their own network of sales vehicles and delivery vans, trucks, tractor trailers, or other forms of transportation. As the investment and payroll costs for this can be massive, it is a big issue when compared with drop shipping. Wholesalers may also use Fed EX, DHL, Air or Sea Cargo services to deliver their products. It will quickly become evident how much wholesaling business is dependent on shipping, and from there the wholesaler can begin to negotiate a discounted rate for volume traffic. Drop shippers can avoid this entirely, making the process much simpler.

Never assume anything.
This goes double for selling online. Customers with the internet flourishing have almost every resource and review site to know ahead of time which products are good and unless you already have a successful brand name established, most buyers approach new products with a lot of caution. This reason may sound obvious but time and time again, new business owners will fall in love with a new product to sell (maybe they think the product is really great, or often times they are getting a good price) and they will go buy and stock 1000’s of this product before they’ve even sold one. The consumer market is hard to forecast and can change very rapidly and getting stuck with a product you can’t sell is one of the top reasons why new businesses go bankrupt. Keep a diversified list of products, do your homework and staying on top of trends can save a lot of headaches down the road.