Tax Savings Success And Business Growth

According to CNN, "wealthy foreigners are investing a minimum of $1 million dollars in our US economy." Our government is allowing these foreigners this opportunity to create businesses that will grow and hire at least eight people. Many of them are attaining success.

Our small business who are already here need to see business opportunities this US offers to grow their businesses and hire people. There are tax credits available for companies to hire targeted disadvantaged groups. So lower your tax bill while hiring. In general, up to $3,000 of tax credit can be available. You can have more success with these tax savings.

Here is a partial list of hiring.

- People living in Enterprise Zones

- Qualified veterans

- People living in Renewal Communities

- Summer Youth

- Food stamp recipients

Summer youth must work at least 90 days, between May 1st to September 15th. Enterprize zone employees must work at least 90 days, part time or full time. In Maryland, hiring the economically disadvantaged employee can give a tax credit of up to $9,000 per employee over three years. Have an accountant help you further in computing your tax savings.

Some small business owners might ask how can I afford to hire others in order to take advantage of these incentives? Others say I'm not a big enough small business to participate in these tax savings strategies, yet they want more clients and a bigger business. Let's share some tips to grow your business.

Consider that you can hire experienced sales people on commission to promote your business. They get paid when they bring in a client that pays you.

If you expand your network of people to include strategic alliances, you can refer clients to each other. How many strategic alliances do you know? These are people who already service the type of client you want, but they are not your competitor. An example would be wedding planner who's strategic alliances can include a caterer, photographer, florist, and a tuxedo shop.