Bizarre Tax Deductions - One Way Taxes Can Turn that Frown Upside Down!

Taxes are almost due, and for those of us that haven't filed yet, you may want to check out these crazy deductions. We're not saying you should actually try them, but they might at least lighten the mood.

Learning from the NFL - True Value and Peyton Manning

We had a healthy debate here in the office when Peyton Manning was released from the Indianapolis Colts. Some said that he would never play again; that he was a liability at this point and would never be at the top of his game. Others shared the same sentiment as officials in the NFL saying that he would be at his best very soon. But what does this have to do with business?

There's definitely cyclical businesses, but there are also businesses, cyclical or not, that experience a blunder or unexpected hit that sets them back. Maybe even potentially affects their long-term growth. Business owners work diligently day-in and day-out to create something successful. Maybe even something that defines them. Many would agree that Peyton did this for Indianapolis. He helped create an identity; he increased his team's value. It wasn't suprising then, that with 4 neck injuries & his latest season filled with cringe-inducing interceptions, that many lost faith. So what was Indy and Peyton to do?

Indianapolis understood their value, without Peyton. Their decision, though sad in many ways, could prove to be great for them. They made an emotional decision to do what was best for the team, the brand and the business. Whether you're releasing a quarterback from his contract or releasing yourself from a business through sale/exit strategy, much of it is interlaced with emotion and conviction. Nobody ever said it would be easy; they said it would be worth it.

The Bronco's on the other hand, feel that there was a hidden value in Peyton as a quaterback; He may boost that teams morale (and probably their value too); that would be the true testimony to hidden value.

Will the Colt's find themselves regretting their decision? If Peyton has a great year, they may be kicking themselves for looking over the hidden value in their business. Either way, an objective opinion may be able to see what's right under your nose.

If you're looking for a valuation or business consultation, let us know! You may qualify for a FREE business valuation, typically worth $10,000-$15,000. For more information, call Rachel Foster at 714-255-8862 or email Rachel@PlethoraBusinesses.com.

3 Posts You Should Read if You're Thinking About Selling Your Business

This year is the prime time to sell your business - the economy is started to turn up, but is low enough to have larger companies and private equity groups to be largely in acquisition mode. And, because of the capital gains change at the end of the year, it's the best time for a business owner to sell. There are 3 things you should read before jumping off the boat.

1. Don't try to do it yourself. Hire a broker. Why? Well, as this article states, you're more likely to put more cash in your pocket, get a complimentary valuation (which you'll need to sell anyway) and you'll be less likely to be "duped."

2. Develop your exit strategy. Whether you're trying to sell by December 31st, or you just want to weigh your options, sitting down with an experienced agent or broker will provide you with an abundance of information that you can't simple "google." If you think you're ready to part with, what is probably your business asset, make sure you're putting it in the hands of someone that has the knowledge and background to get you the highest sales price.

3.Consider seller financing. This USA Today article does a great job at looking from a real world perspective.

Make sure you know your options and check the references of different brokers before choosing just one. If you're in California and are considering the sell of all or part of your business, call or email us! 714-255-8862 - Rachel@PlethoraBusinesses.com. Your Business Means the World to Us.

Do You Know What Your Business is Worth?

Most business owners, big or small, don't know the true value of their business. They often overestimate and expect unrealistic numbers when they decide it's time to sell. Don't let this be you! Whether or not you're planning on selling, knowing what your business is truly worth, is one of the best and first things that you can do when you start to develop this year's business plan. So where do you start? Yes, you could purchase a valuation, but those are pretty expensive, typically ranging from $5,000 to $15,000. Is it worth it? I'll tell you what's worth it: spending a few hours to find the hidden value in your business. Those are the things that are already there, that you're probably not taking into account.

We're offering a seminar, here at our offices. It's $45, but you'll be given wine, cheese and knowledge about your business that you didn't know existed. Plus, if you come to the seminar, we'll do your business' valuation, for free. Call Rachel at 714-255-8862 or email her at Rachel@PlethoraBusinesses.com. We'd love to see you there!

Two Things You Can You Learn From Joseph Kony

If you haven't heard yet about Joseph Kony, Kony2012 or Invisible Children, then you're either living under a rock or have avoided all social media the past two days. And if you are a small percentage of people that haven't heard of him, after you watch this viral video, you'll see why there is so much movement of his name lately.

While we are each asked to do our part to stop the terrible things happening to parts of Uganda and Africa, this video and the movement that has spread is a vital resource to businesses. Why? Well for two reasons:

1. Social Media works. If you're a naysayer, check Twitter, Google Trends, Facebook. Walk outside and look at any community cork boards or street lamps. They're guaranteed to have the Kony2012 poster or sticker slapped on them sometime between two days ago and April 15, 2012. This video is a huge testament to the way consumers (whether we're talking about consumers of information or of products) can get a name out there, whether it's good or bad. This particular movement is kind of like a giant negative yelp rating that the world has issued.

2. Bad Reputations Are Not Easily Changed. Now, I'm not saying that Kony would be changing his reputation or that there is any good to change his reputation into. But, simply stated, once a group or sect of society has formed an opinion about, well, really anything, turning it around is exceptionally hard if the complaint goes unaddressed.

Learn what you can, get informed and stop the spread of bad, regardless of it's a negative in your business or in the world.

New Engagement Spotlight: Manufacturer and Designer of Commercial Generators

We were recently asked if we had any new deals and "yes" is an understatement. This blog post would take up way too much room if we were to share all of our new engagements, so we've picked one to highlight: Commercial Generators.

While most people think of generators as those things you wind up if the power goes out or if you're camping, but these are slightly much bigger, durable and stronger. This company does over $10M in gross sales with room to grow. Interested in this listing? Or maybe you'd like to see your business up here and sold before the end of the year? Give us a call. Contact Rachel at 714-255-8862 or email Rachel@PlethoraBusinesses.com

Yelp Goes Public, Twitter Turns to Wall Street,Pandora Yet to Turn Profit.

Big in the news today is Yelp's leap to Wall Street. If you use the app, you may start to see changes with the app and website. Will we be seeing more ads? Maybe even ads that a user is required to sit through? Or will Yelp keep their same interface but sell slots to higher paying companies/listings for prize advertising territory and sponsored links? This will be exciting to watch! USA Today also posted something interesting about yet another popular website, who is notorious for the forced advertising: Pandora. The article does a great job of both prompting potential investors, but also shows the necessary caution that must be recognized, should anyone open their portfolio. We all use Twitter - whether it's business or personal (@PlethoraBiz), we love to share little tidbits of information with anyone willing to cast an inquiring eye. That being said, it's been a long six years for Twitter, but the winding road to Wall Street may be heading towards a finish line of sorts. Twitter employs hundreds of people and has already made a few acquisitions, growing into what will soon be an IPO-ready company. Twitter has money in the bank, shares in private markets and still room to grow.