Small Business Reading Room

Friday, August 19, 2005

Business Opportunities Weblog

Delaware Intercorp is in the business of helping entrepreneurs.
Once of the ways we do that is by pointing out great resources that are available to help you and your business.

Allow me to introduce you to Dane Carlson.

Dane Carlson's Business Opportunities Weblog provides a moderated list of legitimate business opportunities for entrepreneurs. Dane's mission is simple- to help entrepreneurs like yourself find the business that’s right for YOU!

Like what you say?

How about this post on the Blue Sky Creamery:
Blue Sky Creamery uses a little bit of nature, a little bit of science, and a lot of ingenuity to produce real ‘homemade’ ice cream using liquid nitrogen via their patented Nitro Freeze™ process. The result? A remarkably smoother, denser, richer, and creamier ice cream that you have to taste to believe!

This site is more than just franchise opportunities, there are also posts on business news, business ideas, business financing and much more.

Check it out, it will be worth the visit!

Thursday, August 18, 2005

Facsimile Signatures Allowed for Some Employment Tax Returns

Recently, the IRS issued Revenue Procedure 2005-39 to clarify new rules for allowing corporate officers or duly authorized representatives to sign employment tax forms by facsimile or other allowable automated means.

The new rules apply to the following forms:

  • Any form in the 940 series, including Form 940, Employer’s Annual Federal Unemployment Tax Return (FUTA); Form 941, Employer’s Quarterly Federal Tax Return; Form 943, Employers Annual Federal Tax Return for Agricultural Employees; and Form 945, Annual Return of Withholding Federal Income Tax;

  • Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons;

  • Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips;

  • Form CT-1, Employer’s Annual Railroad Retirement Tax Return; and

  • Any variant of these forms, such as Form 941c, Statement to Correct Information; Form 941-SS, Employer’s Quarterly Federal Tax Return.

The hope is that the new procedure will reduce the burden in filing employment tax returns because it will make filing employment taxes simpler and reduce the number of returns the IRS rejects due to signature issues.

Read the press release.

Wednesday, August 17, 2005

Pigs on the Highway

Well, the Highway bill is now law at $295 Billion over five years. This illustrates two problems with our government.

1) The Congress is using budget tricks to make it look like the bill will cost ONLY $286.4 billion. The difference is a scheduled rescission to be made by congress on the last date the bill covers. Don't hold your breath waiting for Congress to vote NOT to spend money. Quoting Stephen Slivinski on from August 16, 2005:

The bill is filled to the brim with pork projects -- it's stuffed "like a turkey," bragged Rep. Don Young of Alaska, House transportation committee chairman and the main beneficiary of some of the most expensive projects within, including a $231 million bridge in Anchorage to be named "Don Young's Way."

But why not allow the States to make their own decisions about highways by allowing them to keep ALL of the gas taxes they collect. We could eliminate the Federal Tax and substitute State taxes of the same amount and increase efficiency if nothing else.

2) The Congress and President Bush have lost all care for spending restraint. The President said he would veto any bill greater than $275 Billion. That did not happen and he has lost all credibility regarding the veto threat.

According to Mr. Slivinski, there are very few congressmen that are taking a serious stand on this issue. We hope to urge them on by highlighting their efforts here. They are Jeff Flake from Arizona and Scott Garrett of New Jersey. They have proposed eliminating the Federal Gas Tax to allow the States to conduct their own business on the highways.

A new way of looking at the PC

No, I don't mean there is a new cyber-brain-jack to replace the video display.

Engineers at IBM have come up with a new way to run a virtual machine from an Apple iPod. The virtual machine can run on any pc and includes all of the soul of the PC (Data, Personal Settings and Applications). In this setup, the PC actually boots up from the iPod. Read more about it at c|Net .

Meanwhile, the latest edition (September 6, 2005) of PC Magazine outlines how to store and run 22 apps from a USB drive. The 512 Mb sample drive setup includes:
Windows CE Emulator,
Ad-Aware SE Personal,
Foxit BDF Reader,
This is an interesting approach to using the USB key. And it works now.

PC Magazine is also reporting that Memina has developed a 4Gb Keychain Flash Drive. That is enough space to store a complete DVD movie or over 1,000 mp3's.

I think it is clear to see what capabilities are just around the corner. We may all have our own PC soul on a stick, and use the guts of any PC to access it. This will increase privacy while making the risk of misplacing the little memory stick even greater.

How else could this be used? Could this unleash future business opportunities? Use your imagination...

Back to (Tax) School

The IRS is reminding all teachers that they are eligible for a deduction of up to $250 from adjusted gross income for out of pocket expenses related to their classroom duties.

"Under current law, this deduction is scheduled to expire at the end of 2005. In tax year 2003, the most recent year for which figures are available, educator expense deductions totaling almost $814 million were claimed on nearly 3.3 million individual income tax returns."

This deduction is available whether the filer itemizes on schedule A or not.

More details about who qualifies are available here.

Tuesday, August 16, 2005

Latest edition of the law

The latest (August) edition of the Delaware Register of Regulations is now available in .pdf format. It is 1.6Mb and 144 pages long.

Monday, August 15, 2005


Three little letters, so much behind them. D.B.A. in this context stands for Doing Business As.

The Delaware Business Blog has more about what they are in a recent post.

Delaware Intercorp, Inc. can now obtain a DBA for your business for use within Delaware. Call us to find out more at 302.266.9367 or email us at

Times UP!

The automatic extension of time to file your personal income taxes expires today. You may get another extension, but you must now tell the IRS why you think it is warranted.

Just a reminder.

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Delaware Intercorp, Inc.
113 Barksdale Professional center
Newark, DE 19711-3258

"For all the best reasons to incorporate,the best place
is Delaware and the best incorporator is
Delaware Intercorp!"

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