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JUNE 2020
Virtual Happy Hour Trivia
June 4th 500PMVirtual Zoom Meeting
June Business Builders NetworkingJune 16th- 530pmMaking Great Online
Videos Virtual Zoom Meeting
Insurance Liability amp Applicable Law
WebinarJune 17th
400-500PMVirtual Meeting via
Webex
TOWN FAIR HAS BEEN RESCHEDULED FOR
SEPTEMBER 5TH
Upcoming Events
So June is here I imagine that none of us is where we thought we would be halfway through the year I know we are all doing what we can with what we have to work with but the ldquoroad to recoveryrdquo is full of potholes
While we are seeing some progress in what we can do in our businesses to get back on track there is still a lot of trepidation and confusion The best we can do is keep pushing ahead
The Perry HallWhite Marsh Business Association wants to help our mem-bers and business community in all ways possible Through our dues mora-torium and trial member program we have grown to over 80 members since this began The interaction of our members through social media our virtual events and programs has been great People are sharing great things with each other with ideas promotions and solid information I am so proud of all of you
We started a new promotional campaign in the past weeks where we visit our member with a nice ldquoWersquore Hererdquo sign and photograph them in front of their OPEN business We encourage everyone to email us for a time for us to come by and add your smiling faces to our promotion These are posted on Facebook amp Instagram and will ultimately be part of a slide show on our website
As of now our events are still online but we hope to return to in-person events as soon as we can I will be hosting the June 16th networking event and presenting some ideas on creating easy online content for your busi-ness
I also want to welcome Larry Taccone State Farm Insurance as a new board member We are saying goodbye to our longtime friend and supporter Sharon Jones after many years ofgiving me wise counsel She will be missed by us all Thanks my friend
ldquoBuilding Business Through Associationrdquo
ldquoBuilding Business Through Associationrdquo
Message from the President Lynn Richardson
THIS MONTHrsquoS FEATURED HOST Picture This Multimedia Services
Since 1992 Picture This Multimedia Services has been helping businesses advertise market strategize and succeed Through many changes in the industry and technology Picture This Multimedia has helped businesses promote themselves in a strong and efficient way
In todayrsquos marketplace principal Lynn Richardson focuses on commercial photography for all promotional uses event photography website remod-eling social media ads amp content copywriting and expoconvention ads amp displays Picture This Multimedia Services also organizes promotes and produces community events such as The Town Fair Family Fest 43 All About Maryland Festival and the Parkville-Carney Festival
In her spare time Lynn rescues small life forms and helps them find a great new life in great homes
Perry Hall White Marsh Business Association PO Box 117 bull White Marsh MD 21162Please contact any board member if you have questions or concernsemail us at infophwmbaorg or call us using the information below
President Lynn Richardson Picture This Multimedia Services 410-493-4984 Vice President Sandy Lombardo BCPL- White Marsh 410-887-5097 Secretary Joe Musumeci Rowles amp Company 443-725-5395 Treasurer Cindy Kleback BCPL-Perry Hall 410-887-5195 Director Julie Rappazzo ServPro of Perry HallWhite Marsh 410-529-1664 Director Larry Taccone State Farm Insurance 410-344-6153
HOST SPOTLIGHTHOST SPOTLIGHT
Andy Smith - Mid-Atlantic Wealth Advisors
Rebecca Loewer - Homes by Rebecca
Monica Rowlands - GHX Industrial
David Shapiro - DeJon Vineyard
Deb Holt - That Kitchen Place
Michael Fitch- Century 21 Downtown
Willy Dely - Au Jus Solutions
to our newest Members
Lynn Richardson
3
JUNE 17th - 4PM-5PM
ARE YOU COVERED PROPERLY
Find out if the coverage you THINK you have is the right thing or leaving you vulnerable to lawsuits
Speaker Ron ParkerParker Pallet Slezak amp Russell
Bring Your Questions FREE REGISTRATION
REGISTER BY JUNE 16th
Neighborhood of Goodreg
Quotes for Goodtrade
Humane Society of Harford County June 2020 Wersquore excited to be sponsored by our local State Farmreg agent as this monthrsquos Quotes for Good organization This month for every person we send their way and who completes an auto quote theyrsquoll make a $10 donation to our organization For the quote to qualify the individual cannot be a current State Farm customer but please refer friends and family to help support this organization When calling instopping by for a quote be sure to mention Quotes for Good and our organizationrsquos name for the quote to qualify We are excited about the opportunity to generate donations and create awareness about our cause Thank you for supporting us through Quotes for Good Together we can make a difference in our community Larry Taccone State Farm Agent 8709 Cowenton Ave Perry Hall MD 21128 410-344-6153 Larrytacconefc04statefarmcom
For more information contactChrissy Schifkovitz
Senior Community Development Manager(410) 9335183
Email Larry Taccone
The IRS has extended the tax deadline to July 15th Personal and business income taxes that were due on April 15 can now be filed any time be-fore July 15 2020 The extended deadline applies to payments due as well This revised post reflects the new deadline
As the year begins itrsquos time to close out your books and prepare for the looming 2020 tax filing dead-lines Between quarterly income tax filings and semiweekly payroll withholdings for most business-es itrsquos tax season all year
Your small business tax checklist for 2020Whether yoursquove started your first company this year or you are a veteran entrepreneur your business might be subject to a variety of federal taxes Re-quired tax filings depend on your industry annual revenue and number of employees
Most businesses and self-employed individuals must submit estimated tax payments quarterly and file an income tax return annually Filing dates de-pend on whether you operate a corporation part-nership S corporation or sole proprietorship
Sole proprietorships use the same tax schedule as individuals so returns are due on July 15 2020 If your business is a S corporation or a partnership the return was due on March 16 2020 Corpora-tions can have various tax filing deadlines and it should be defined in your corporate resolution
State income tax due dates can vary Check with the tax collection authority in your state for the filing and payment deadline in your state
Employment taxPayroll withholdings and unemployment tax pay-ments are submitted semi-weekly or monthly depending on your filing status Employers must document deposits and distribute year-end tax documents to employees
Excise taxCertain businesses including manufacturers retail-ers and trucking companies are subject to excise tax Depending on industry-specific requirements excise tax is paid monthly quarterly or annually
The following deadlines are geared toward small businesses that follow a calendar-year reporting system Additional information including schedule modifications for fiscal-year tax filters appears in IRS Publication 509
Tax filings for wages and nonemployee compensa-tionBy January 31 employers must distribute paper copies of appropriate tax forms to individuals who received cash payments during 2019 including wages nonemployee compensation dividends royalties and profit-sharing distributions Alterna-tively electronic files can be delivered with the recipientrsquos consent Additional copies must be sub-mitted to the Social Security Administration at the same time The January 31 deadline applies to the following tax documents
Forms 1097 1098 and 1099Forms 3921 and 3922Forms W-2 and W-2GSmall businesses have until February 28 to send corresponding copies to the IRS Employers may also be required to submit Form 1096 Annual Summary and Transmittal of US Information Re-turns and Form 8027 Employerrsquos Annual Informa-tion Return of Tip Income and Allocated Tips For electronic filings the deadline for these filings is extended until April 1
Employment Taxes and Payroll WithholdingsBased on tax liability as reported on Form 941 Em-ployerrsquos Quarterly Federal Tax Return small busi-nesses must deposit employment taxes monthly or semi-weekly Items subject to this requirement include federal income tax federal unemployment (FUTA) tax and Social SecurityMedicare (FICA) withholdings Additionally employers must report their payroll withholdings quarterly or annually us-ing IRS Form 941 943 944 or 945 Key deadlines
Tax Date Extension Reminders
Continued on Page 124
Itrsquos just the beginningThese members are showing their ldquocolorsrdquo in our ldquoWersquore Hererdquo Campaign Email us at infophwmbaorg for an appointment for us to come by and get YOUR photo
The Village Gem - Perry Hall Square Jim Barby Automotive 10821 Philadelphia Rd White Marsh
Accent Printers11110 Pulaski Hwy White Marsh
Gold Medal Physical Therapy8640 Ridgelys Choice Dr Nottingham
5
Financial Info for investors
6
submitted by member Andy Smith Mid-Atlantic Wealth Advisors
For more updates contact Andy Smith Mid-Atlantic Wealth Advisors Click HERE for website connection
7
4 Tax deductions for independent contractorsSource Hiscox Blog
Yoursquove put a lot of work into becoming an independent contractor Now itrsquos time to make sure you take advantage of the tax deductions that come with being your own boss Just remember before you claim something as a deduction make sure you have good records to back it up The IRS can be a stickler for documentation and wants to see that the money you spent was actually used for business With that in mind here are four business-related expenses that can help your bottom line at tax time
1 MarketingFrom business cards to websites to ads on social media the way you promote yourself can be a de-ductible expense Do you run Facebook ads to grow your T-shirt business for instance Keep track and deduct what you spend on your campaigns Or maybe you decide to go a little more old school and dis-tribute flyers at a music festival If so get ready to deduct the cost of the flyers themselves and any asso-ciated design fees Advertising can be an important part of your overall business strategy so donrsquot ignore it as a deduction
2 RentMany independent contractors work out of a home office which has its own tax advantages But lately more and more freelancers are opting for coworking environments where they share space and build friendships with other workers From 2010 to 2017 the number of coworking spaces in the US rose from less than 300 to more than 4000 If yoursquore in that situation you may be able to deduct the fees you pay Even better in some cases you may be able to keep your home office deduction and deduct the cost of joining a coworking space To be sure contact a tax professional
3 Education To stay competitive in todayrsquos business climate self-employed professionals often need to update their skills Those expenses can be tax deductible as long as the education is related to the job Many times independent contractors overlook this potential deduction But think of it this way To keep up on best practices a freelance web developer might need to attend a seminar on how to combat the latest com-puter viruses But if that same developer attended a webinar on how to score the best travel deals itrsquos probably not going to fly with the IRS Just remember If you need it to do your job better itrsquos a safer bet for a tax deduction
4 InsuranceInsurance is an important way to protect yourself and your business It also can lead to hefty deductions As a self-employed professional you may be able to deduct premiums for medical dental and long-term care insurance There are some caveats however so do your homework before you begin your taxes
Premiums for business insurance may also be deductible Experts such as Harvey I Bezozi a certified public accountant and certified financial planner who has worked with small businesses for more than three decades recommend independent contractors purchase business insurance of which there are several types
Are you a freelance journalist writing about the rich and powerful You probably want to consider in-surance that will cover libel and slander Whatever your field itrsquos important to assess the risks to your business and make sure yoursquore covered Hiscox offers various types of business insurance to protect independent contractors And remember For more detailed information about tax deductions itrsquos always important to reach out to a tax professional
Cisco recently predicted that video content will ac-count for 69 of all consumer internet traffic this year
This is the last call for all marketers who until now have avoided video content convinced that itrsquos just a fad or that creating professional videos takes way too much time effort and money Well herersquos a piece of good news video marketing today is within reach of all kinds of companies including small businesses looking for novel ways to spice up their online mar-keting activities How to develop a video marketing strategy that works Here are 6 key tips to help your small business develop a video marketing strategy
This guide explains how develop a video marketing strategy structured around the Smart Insights Reach-Act-Convert-Engage framework
1 Know your sector and audience
Before you start to define and develop your market-ing strategy research your industry to see what kinds of videos are used by other companies in your sector Once you have a grasp on the general use of video in marketing similar products or services itrsquos time to think about your own goals which should power your strategy in general and every single video in detail
What are the possible goals of video marketing Here are a few examples
Helping customers learn new skillsTeaching your audience how to use your productProviding advice and answering popular questions to minimize support requestsBuilding a brand personalityGrowing specific sections of your audience (for in-stance newsletter or blog subscribers)Building company culture and attractive employer brand
2 Try different video types
Itrsquos important that you incorporate different video types into your strategy ndash it will help you learn which perform best for your business and truly engage your audience
There are three main types of videos used for marketing
Storytelling videos ndash videos that present the com-pany its story as well as employee profiles This kind of video help customers to learn the story behind a brand and get an idea about the people operating the business in some interesting behind-the-scenes vid-eos Such videos are excellent for building a strong brand and fostering a sense of consumer trust and loyalty
Animated Explainer videos ndash these videos are focused on solving a problem explaining it in a lsquohow torsquo format This kind of videos is great for SEO ndash over the years their search rankings have literally explod-ed as consumers learned to trust this format
Video testimonials ndash sharing videos which show third party testimonials are great for building your credibility and showing potential clients that your product or service brings tangible benefitsVideo for small business
3 Collaborate with a professional studio
Small businesses have limited marketing budgets but investing in a collaboration with a professional studio that will help you realize videos is worth the price Great video marketing will bring you new leads and sales so if you find people who know their way around video making and can help you with planning and integration go for it
If someone in your team is able to create profes-sional videos therersquos nothing standing between you and video content marketing The web is actually full of free or paid tools that can help your team to create videos and animations to perfectly showcase your product and brand
4 Make sure every video delivers a single message
Imagine yoursquove just stumbled upon a video about a brand You click play and get to see the company headquarters a review of its products a note about
8
continued on page 9
Small businesses can use video to boost awareness leads and sales using these 6 ideas
Applications are available nowfor The Town Fair
PHWMBA Members get a $25discount on their space and premium
placement in our famous MEMBER SHOWCASE ROW
Mark your calendars nowSeptember 5th 10-3
thetownfairnet
The Town Fairhas been
rescheduledto
September 5th
(Labor day weekend)
Send us your announcements special information photos
ANYTIMEWe send out our informational emails on a regular basis
Let us spread the word for you
Email anything you want to say toinfophwmbaorg
Let us help you TODAY
its heritage some photos of new locations information on business awards behind-the-scenes footage and a few words from the CEO What exactly did you learn about the company Nothing at all ndash in fact itrsquos a miracle yoursquove made it through the video at all
When creating scripts and realizing your video make sure that every single piece includes a message This way yoursquoll ensure that viewers leave your video with one specific takeaway that will help them to differentiate your brand from competition
5 Mind the length
One research study suggests that 20 of users abandon a video after a mere 10 seconds if they donrsquot find it engaging enough Itrsquos your job to make sure that the first seconds of your video count Additionally the longer is your video the less likely users will continue to watch it
Make sure to keep your videos short and to the point In most cases 60 to 90 seconds will work perfectly ndash just enough to deliver a piece of meaningful content offer a few takeaway messages and leave your audience crav-ing more
6 Include call-to-action messaging
Every single video you make should be there to realise a specific goal You wonrsquot achieve your objectives without making them clear to your audience in the form of a call-to-action ndash give your audience the next step to follow Include a call-to-action message at the very end of your video ndash lsquoGive us a call for a free quotersquo lsquoVisit our website to learn morersquo or lsquoFollow us on FacebookTwitterrsquo
Developing a successful video marketing strategy takes time but by trying out different video formats and test-ing their performance as you go yoursquoll be on your way to making the most of this innovative medium and finding a space for yourself in the lucrative video marketing industry thatrsquos just around the corner
Thanks to Kelly Smith for sharing their advice and opinions in this post Kelly Smith is a digital marketing specialist at Career FAQs You can follow Career FAQs on Twitter
continued from page 7Video Marketing for Small Business
10
Not free- but we will WORK FOR YOU NOW and you can PAY FOR IT LATER Set up a conference to todayYou may need to do business differently in the coming months BE PREPARED Picture This Multimedia Service is offering to help you GET STARTED NOW to be ready for being back to business s with a DEFERRED PAYMENT PLAN
bull Marketing ideas strategies and plansbull Website refreshing updating remodeling
bull Social Media content amp managementbull Updated business site photography (soon but not today)
picturethismultimediacomcastnet bull 410-493-4984 bull Lynn Richardson
WILL WORK FOR YOU
Give Blood Give Life
Johns Hopkins Bayview Blood Drive
June 17-19 2020 730 am to 530 pm
Asthma amp Allergy Center 5501 Hopkins Bayview Circle
Baltimore MD 21224
All participants receive a special gift More important they will take pride in knowing
they saved up to 3 lives
Email reyring1jhmiedu or call 410-550-0289 to schedule
a life-saving donation
for Form 941 are April 30 July 31 October 30 and January 29 2021 All other forms in the 940 series are due on the last day of the first month after the end of the calendar year
Form 940 Employerrsquos Annual Federal Unemploy-ment (FUTA) Tax ReturnForm 943 Employerrsquos Annual Federal Tax Return for Agricultural EmployeesForm 944 Employerrsquos Annual Federal Tax ReturnForm 945 Annual Return of Withheld Federal In-come TaxIncome Tax Returns for Partnerships and S Corpo-rationsIf your business is classified as a partnership or an S corporation you must submit your tax return on March 16 or the 15th day of the third month after the end of your organizationrsquos tax year Partner-ships must complete Form 1065 which is used to generate a Schedule K-1 earnings statement for each partner For S corporations Form 1120S is needed to prepare the Schedule K-1
Partnerships and S corporations may request a six-month extension by submitting Form 7004 along with a deposit equal to the amount of estimated tax owed In this case the annual tax return along with interest and penalties will be due on September 15
Corporate income tax returnsCompanies have until July 15 2020 to submit corporate tax returns for income received in 2019 Businesses may use Form 1120 or request a six-month extension by filing Form 7004 and submit-ting a deposit for the amount of estimated tax owed The first quarterly estimated tax payment of the year is also due on this date
If your business requests an extension you have until October 15 to submit your income tax return using Form 1120 Yoursquoll be required to pay penal-ties interest and any remaining tax at that time
2020 Tax filing deadlines for estimated income taxBusinesses must calculate their quarterly income tax liability using the worksheet Form 1120-W Quarterly estimated income tax payments for cor-porations are due on the following dates
First quarter July 15Second quarter June 15Third quarter September 15Fourth quarter December 15Federal excise tax requirements for small busi-nessesFederal excise taxes apply to a number of different products and industries Filing requirements vary depending on the nature of your business
Form 720 Quarterly Federal Excise Tax Return applies to retailers manufacturers communications companies and travel services Itrsquos filed quarterly with this yearrsquos due dates falling on April 30 July 31 October 30 and January 29 2021Companies that accept wagers must file Form 11-C Occupational Tax and Registration Return for Wagering before accepting any bets and Form 730 for every subsequent monthCompanies that operate heavy highway vehicles must file Form 2290 by the last day of the vehiclersquos first month of service For subsequent filings the excise tax period begins on July 1 and ends on June 30Find more information about when to file taxes 2020This guide includes an overview of the 2020 tax filing deadlines that apply to small businesses Your company may also qualify for tax credits and deductions on essential expenses such as busi-ness insurance which may reduce your tax burden If you have specific questions about when to file taxes in 2020 additional information is available online through the IRS Small Business and Self-Employed Tax Center
Tax Date Extension Reminders Continued from Page 4
THIS MONTHrsquoS FEATURED HOST Picture This Multimedia Services
Since 1992 Picture This Multimedia Services has been helping businesses advertise market strategize and succeed Through many changes in the industry and technology Picture This Multimedia has helped businesses promote themselves in a strong and efficient way
In todayrsquos marketplace principal Lynn Richardson focuses on commercial photography for all promotional uses event photography website remod-eling social media ads amp content copywriting and expoconvention ads amp displays Picture This Multimedia Services also organizes promotes and produces community events such as The Town Fair Family Fest 43 All About Maryland Festival and the Parkville-Carney Festival
In her spare time Lynn rescues small life forms and helps them find a great new life in great homes
Perry Hall White Marsh Business Association PO Box 117 bull White Marsh MD 21162Please contact any board member if you have questions or concernsemail us at infophwmbaorg or call us using the information below
President Lynn Richardson Picture This Multimedia Services 410-493-4984 Vice President Sandy Lombardo BCPL- White Marsh 410-887-5097 Secretary Joe Musumeci Rowles amp Company 443-725-5395 Treasurer Cindy Kleback BCPL-Perry Hall 410-887-5195 Director Julie Rappazzo ServPro of Perry HallWhite Marsh 410-529-1664 Director Larry Taccone State Farm Insurance 410-344-6153
HOST SPOTLIGHTHOST SPOTLIGHT
Andy Smith - Mid-Atlantic Wealth Advisors
Rebecca Loewer - Homes by Rebecca
Monica Rowlands - GHX Industrial
David Shapiro - DeJon Vineyard
Deb Holt - That Kitchen Place
Michael Fitch- Century 21 Downtown
Willy Dely - Au Jus Solutions
to our newest Members
Lynn Richardson
3
JUNE 17th - 4PM-5PM
ARE YOU COVERED PROPERLY
Find out if the coverage you THINK you have is the right thing or leaving you vulnerable to lawsuits
Speaker Ron ParkerParker Pallet Slezak amp Russell
Bring Your Questions FREE REGISTRATION
REGISTER BY JUNE 16th
Neighborhood of Goodreg
Quotes for Goodtrade
Humane Society of Harford County June 2020 Wersquore excited to be sponsored by our local State Farmreg agent as this monthrsquos Quotes for Good organization This month for every person we send their way and who completes an auto quote theyrsquoll make a $10 donation to our organization For the quote to qualify the individual cannot be a current State Farm customer but please refer friends and family to help support this organization When calling instopping by for a quote be sure to mention Quotes for Good and our organizationrsquos name for the quote to qualify We are excited about the opportunity to generate donations and create awareness about our cause Thank you for supporting us through Quotes for Good Together we can make a difference in our community Larry Taccone State Farm Agent 8709 Cowenton Ave Perry Hall MD 21128 410-344-6153 Larrytacconefc04statefarmcom
For more information contactChrissy Schifkovitz
Senior Community Development Manager(410) 9335183
Email Larry Taccone
The IRS has extended the tax deadline to July 15th Personal and business income taxes that were due on April 15 can now be filed any time be-fore July 15 2020 The extended deadline applies to payments due as well This revised post reflects the new deadline
As the year begins itrsquos time to close out your books and prepare for the looming 2020 tax filing dead-lines Between quarterly income tax filings and semiweekly payroll withholdings for most business-es itrsquos tax season all year
Your small business tax checklist for 2020Whether yoursquove started your first company this year or you are a veteran entrepreneur your business might be subject to a variety of federal taxes Re-quired tax filings depend on your industry annual revenue and number of employees
Most businesses and self-employed individuals must submit estimated tax payments quarterly and file an income tax return annually Filing dates de-pend on whether you operate a corporation part-nership S corporation or sole proprietorship
Sole proprietorships use the same tax schedule as individuals so returns are due on July 15 2020 If your business is a S corporation or a partnership the return was due on March 16 2020 Corpora-tions can have various tax filing deadlines and it should be defined in your corporate resolution
State income tax due dates can vary Check with the tax collection authority in your state for the filing and payment deadline in your state
Employment taxPayroll withholdings and unemployment tax pay-ments are submitted semi-weekly or monthly depending on your filing status Employers must document deposits and distribute year-end tax documents to employees
Excise taxCertain businesses including manufacturers retail-ers and trucking companies are subject to excise tax Depending on industry-specific requirements excise tax is paid monthly quarterly or annually
The following deadlines are geared toward small businesses that follow a calendar-year reporting system Additional information including schedule modifications for fiscal-year tax filters appears in IRS Publication 509
Tax filings for wages and nonemployee compensa-tionBy January 31 employers must distribute paper copies of appropriate tax forms to individuals who received cash payments during 2019 including wages nonemployee compensation dividends royalties and profit-sharing distributions Alterna-tively electronic files can be delivered with the recipientrsquos consent Additional copies must be sub-mitted to the Social Security Administration at the same time The January 31 deadline applies to the following tax documents
Forms 1097 1098 and 1099Forms 3921 and 3922Forms W-2 and W-2GSmall businesses have until February 28 to send corresponding copies to the IRS Employers may also be required to submit Form 1096 Annual Summary and Transmittal of US Information Re-turns and Form 8027 Employerrsquos Annual Informa-tion Return of Tip Income and Allocated Tips For electronic filings the deadline for these filings is extended until April 1
Employment Taxes and Payroll WithholdingsBased on tax liability as reported on Form 941 Em-ployerrsquos Quarterly Federal Tax Return small busi-nesses must deposit employment taxes monthly or semi-weekly Items subject to this requirement include federal income tax federal unemployment (FUTA) tax and Social SecurityMedicare (FICA) withholdings Additionally employers must report their payroll withholdings quarterly or annually us-ing IRS Form 941 943 944 or 945 Key deadlines
Tax Date Extension Reminders
Continued on Page 124
Itrsquos just the beginningThese members are showing their ldquocolorsrdquo in our ldquoWersquore Hererdquo Campaign Email us at infophwmbaorg for an appointment for us to come by and get YOUR photo
The Village Gem - Perry Hall Square Jim Barby Automotive 10821 Philadelphia Rd White Marsh
Accent Printers11110 Pulaski Hwy White Marsh
Gold Medal Physical Therapy8640 Ridgelys Choice Dr Nottingham
5
Financial Info for investors
6
submitted by member Andy Smith Mid-Atlantic Wealth Advisors
For more updates contact Andy Smith Mid-Atlantic Wealth Advisors Click HERE for website connection
7
4 Tax deductions for independent contractorsSource Hiscox Blog
Yoursquove put a lot of work into becoming an independent contractor Now itrsquos time to make sure you take advantage of the tax deductions that come with being your own boss Just remember before you claim something as a deduction make sure you have good records to back it up The IRS can be a stickler for documentation and wants to see that the money you spent was actually used for business With that in mind here are four business-related expenses that can help your bottom line at tax time
1 MarketingFrom business cards to websites to ads on social media the way you promote yourself can be a de-ductible expense Do you run Facebook ads to grow your T-shirt business for instance Keep track and deduct what you spend on your campaigns Or maybe you decide to go a little more old school and dis-tribute flyers at a music festival If so get ready to deduct the cost of the flyers themselves and any asso-ciated design fees Advertising can be an important part of your overall business strategy so donrsquot ignore it as a deduction
2 RentMany independent contractors work out of a home office which has its own tax advantages But lately more and more freelancers are opting for coworking environments where they share space and build friendships with other workers From 2010 to 2017 the number of coworking spaces in the US rose from less than 300 to more than 4000 If yoursquore in that situation you may be able to deduct the fees you pay Even better in some cases you may be able to keep your home office deduction and deduct the cost of joining a coworking space To be sure contact a tax professional
3 Education To stay competitive in todayrsquos business climate self-employed professionals often need to update their skills Those expenses can be tax deductible as long as the education is related to the job Many times independent contractors overlook this potential deduction But think of it this way To keep up on best practices a freelance web developer might need to attend a seminar on how to combat the latest com-puter viruses But if that same developer attended a webinar on how to score the best travel deals itrsquos probably not going to fly with the IRS Just remember If you need it to do your job better itrsquos a safer bet for a tax deduction
4 InsuranceInsurance is an important way to protect yourself and your business It also can lead to hefty deductions As a self-employed professional you may be able to deduct premiums for medical dental and long-term care insurance There are some caveats however so do your homework before you begin your taxes
Premiums for business insurance may also be deductible Experts such as Harvey I Bezozi a certified public accountant and certified financial planner who has worked with small businesses for more than three decades recommend independent contractors purchase business insurance of which there are several types
Are you a freelance journalist writing about the rich and powerful You probably want to consider in-surance that will cover libel and slander Whatever your field itrsquos important to assess the risks to your business and make sure yoursquore covered Hiscox offers various types of business insurance to protect independent contractors And remember For more detailed information about tax deductions itrsquos always important to reach out to a tax professional
Cisco recently predicted that video content will ac-count for 69 of all consumer internet traffic this year
This is the last call for all marketers who until now have avoided video content convinced that itrsquos just a fad or that creating professional videos takes way too much time effort and money Well herersquos a piece of good news video marketing today is within reach of all kinds of companies including small businesses looking for novel ways to spice up their online mar-keting activities How to develop a video marketing strategy that works Here are 6 key tips to help your small business develop a video marketing strategy
This guide explains how develop a video marketing strategy structured around the Smart Insights Reach-Act-Convert-Engage framework
1 Know your sector and audience
Before you start to define and develop your market-ing strategy research your industry to see what kinds of videos are used by other companies in your sector Once you have a grasp on the general use of video in marketing similar products or services itrsquos time to think about your own goals which should power your strategy in general and every single video in detail
What are the possible goals of video marketing Here are a few examples
Helping customers learn new skillsTeaching your audience how to use your productProviding advice and answering popular questions to minimize support requestsBuilding a brand personalityGrowing specific sections of your audience (for in-stance newsletter or blog subscribers)Building company culture and attractive employer brand
2 Try different video types
Itrsquos important that you incorporate different video types into your strategy ndash it will help you learn which perform best for your business and truly engage your audience
There are three main types of videos used for marketing
Storytelling videos ndash videos that present the com-pany its story as well as employee profiles This kind of video help customers to learn the story behind a brand and get an idea about the people operating the business in some interesting behind-the-scenes vid-eos Such videos are excellent for building a strong brand and fostering a sense of consumer trust and loyalty
Animated Explainer videos ndash these videos are focused on solving a problem explaining it in a lsquohow torsquo format This kind of videos is great for SEO ndash over the years their search rankings have literally explod-ed as consumers learned to trust this format
Video testimonials ndash sharing videos which show third party testimonials are great for building your credibility and showing potential clients that your product or service brings tangible benefitsVideo for small business
3 Collaborate with a professional studio
Small businesses have limited marketing budgets but investing in a collaboration with a professional studio that will help you realize videos is worth the price Great video marketing will bring you new leads and sales so if you find people who know their way around video making and can help you with planning and integration go for it
If someone in your team is able to create profes-sional videos therersquos nothing standing between you and video content marketing The web is actually full of free or paid tools that can help your team to create videos and animations to perfectly showcase your product and brand
4 Make sure every video delivers a single message
Imagine yoursquove just stumbled upon a video about a brand You click play and get to see the company headquarters a review of its products a note about
8
continued on page 9
Small businesses can use video to boost awareness leads and sales using these 6 ideas
Applications are available nowfor The Town Fair
PHWMBA Members get a $25discount on their space and premium
placement in our famous MEMBER SHOWCASE ROW
Mark your calendars nowSeptember 5th 10-3
thetownfairnet
The Town Fairhas been
rescheduledto
September 5th
(Labor day weekend)
Send us your announcements special information photos
ANYTIMEWe send out our informational emails on a regular basis
Let us spread the word for you
Email anything you want to say toinfophwmbaorg
Let us help you TODAY
its heritage some photos of new locations information on business awards behind-the-scenes footage and a few words from the CEO What exactly did you learn about the company Nothing at all ndash in fact itrsquos a miracle yoursquove made it through the video at all
When creating scripts and realizing your video make sure that every single piece includes a message This way yoursquoll ensure that viewers leave your video with one specific takeaway that will help them to differentiate your brand from competition
5 Mind the length
One research study suggests that 20 of users abandon a video after a mere 10 seconds if they donrsquot find it engaging enough Itrsquos your job to make sure that the first seconds of your video count Additionally the longer is your video the less likely users will continue to watch it
Make sure to keep your videos short and to the point In most cases 60 to 90 seconds will work perfectly ndash just enough to deliver a piece of meaningful content offer a few takeaway messages and leave your audience crav-ing more
6 Include call-to-action messaging
Every single video you make should be there to realise a specific goal You wonrsquot achieve your objectives without making them clear to your audience in the form of a call-to-action ndash give your audience the next step to follow Include a call-to-action message at the very end of your video ndash lsquoGive us a call for a free quotersquo lsquoVisit our website to learn morersquo or lsquoFollow us on FacebookTwitterrsquo
Developing a successful video marketing strategy takes time but by trying out different video formats and test-ing their performance as you go yoursquoll be on your way to making the most of this innovative medium and finding a space for yourself in the lucrative video marketing industry thatrsquos just around the corner
Thanks to Kelly Smith for sharing their advice and opinions in this post Kelly Smith is a digital marketing specialist at Career FAQs You can follow Career FAQs on Twitter
continued from page 7Video Marketing for Small Business
10
Not free- but we will WORK FOR YOU NOW and you can PAY FOR IT LATER Set up a conference to todayYou may need to do business differently in the coming months BE PREPARED Picture This Multimedia Service is offering to help you GET STARTED NOW to be ready for being back to business s with a DEFERRED PAYMENT PLAN
bull Marketing ideas strategies and plansbull Website refreshing updating remodeling
bull Social Media content amp managementbull Updated business site photography (soon but not today)
picturethismultimediacomcastnet bull 410-493-4984 bull Lynn Richardson
WILL WORK FOR YOU
Give Blood Give Life
Johns Hopkins Bayview Blood Drive
June 17-19 2020 730 am to 530 pm
Asthma amp Allergy Center 5501 Hopkins Bayview Circle
Baltimore MD 21224
All participants receive a special gift More important they will take pride in knowing
they saved up to 3 lives
Email reyring1jhmiedu or call 410-550-0289 to schedule
a life-saving donation
for Form 941 are April 30 July 31 October 30 and January 29 2021 All other forms in the 940 series are due on the last day of the first month after the end of the calendar year
Form 940 Employerrsquos Annual Federal Unemploy-ment (FUTA) Tax ReturnForm 943 Employerrsquos Annual Federal Tax Return for Agricultural EmployeesForm 944 Employerrsquos Annual Federal Tax ReturnForm 945 Annual Return of Withheld Federal In-come TaxIncome Tax Returns for Partnerships and S Corpo-rationsIf your business is classified as a partnership or an S corporation you must submit your tax return on March 16 or the 15th day of the third month after the end of your organizationrsquos tax year Partner-ships must complete Form 1065 which is used to generate a Schedule K-1 earnings statement for each partner For S corporations Form 1120S is needed to prepare the Schedule K-1
Partnerships and S corporations may request a six-month extension by submitting Form 7004 along with a deposit equal to the amount of estimated tax owed In this case the annual tax return along with interest and penalties will be due on September 15
Corporate income tax returnsCompanies have until July 15 2020 to submit corporate tax returns for income received in 2019 Businesses may use Form 1120 or request a six-month extension by filing Form 7004 and submit-ting a deposit for the amount of estimated tax owed The first quarterly estimated tax payment of the year is also due on this date
If your business requests an extension you have until October 15 to submit your income tax return using Form 1120 Yoursquoll be required to pay penal-ties interest and any remaining tax at that time
2020 Tax filing deadlines for estimated income taxBusinesses must calculate their quarterly income tax liability using the worksheet Form 1120-W Quarterly estimated income tax payments for cor-porations are due on the following dates
First quarter July 15Second quarter June 15Third quarter September 15Fourth quarter December 15Federal excise tax requirements for small busi-nessesFederal excise taxes apply to a number of different products and industries Filing requirements vary depending on the nature of your business
Form 720 Quarterly Federal Excise Tax Return applies to retailers manufacturers communications companies and travel services Itrsquos filed quarterly with this yearrsquos due dates falling on April 30 July 31 October 30 and January 29 2021Companies that accept wagers must file Form 11-C Occupational Tax and Registration Return for Wagering before accepting any bets and Form 730 for every subsequent monthCompanies that operate heavy highway vehicles must file Form 2290 by the last day of the vehiclersquos first month of service For subsequent filings the excise tax period begins on July 1 and ends on June 30Find more information about when to file taxes 2020This guide includes an overview of the 2020 tax filing deadlines that apply to small businesses Your company may also qualify for tax credits and deductions on essential expenses such as busi-ness insurance which may reduce your tax burden If you have specific questions about when to file taxes in 2020 additional information is available online through the IRS Small Business and Self-Employed Tax Center
Tax Date Extension Reminders Continued from Page 4
3
JUNE 17th - 4PM-5PM
ARE YOU COVERED PROPERLY
Find out if the coverage you THINK you have is the right thing or leaving you vulnerable to lawsuits
Speaker Ron ParkerParker Pallet Slezak amp Russell
Bring Your Questions FREE REGISTRATION
REGISTER BY JUNE 16th
Neighborhood of Goodreg
Quotes for Goodtrade
Humane Society of Harford County June 2020 Wersquore excited to be sponsored by our local State Farmreg agent as this monthrsquos Quotes for Good organization This month for every person we send their way and who completes an auto quote theyrsquoll make a $10 donation to our organization For the quote to qualify the individual cannot be a current State Farm customer but please refer friends and family to help support this organization When calling instopping by for a quote be sure to mention Quotes for Good and our organizationrsquos name for the quote to qualify We are excited about the opportunity to generate donations and create awareness about our cause Thank you for supporting us through Quotes for Good Together we can make a difference in our community Larry Taccone State Farm Agent 8709 Cowenton Ave Perry Hall MD 21128 410-344-6153 Larrytacconefc04statefarmcom
For more information contactChrissy Schifkovitz
Senior Community Development Manager(410) 9335183
Email Larry Taccone
The IRS has extended the tax deadline to July 15th Personal and business income taxes that were due on April 15 can now be filed any time be-fore July 15 2020 The extended deadline applies to payments due as well This revised post reflects the new deadline
As the year begins itrsquos time to close out your books and prepare for the looming 2020 tax filing dead-lines Between quarterly income tax filings and semiweekly payroll withholdings for most business-es itrsquos tax season all year
Your small business tax checklist for 2020Whether yoursquove started your first company this year or you are a veteran entrepreneur your business might be subject to a variety of federal taxes Re-quired tax filings depend on your industry annual revenue and number of employees
Most businesses and self-employed individuals must submit estimated tax payments quarterly and file an income tax return annually Filing dates de-pend on whether you operate a corporation part-nership S corporation or sole proprietorship
Sole proprietorships use the same tax schedule as individuals so returns are due on July 15 2020 If your business is a S corporation or a partnership the return was due on March 16 2020 Corpora-tions can have various tax filing deadlines and it should be defined in your corporate resolution
State income tax due dates can vary Check with the tax collection authority in your state for the filing and payment deadline in your state
Employment taxPayroll withholdings and unemployment tax pay-ments are submitted semi-weekly or monthly depending on your filing status Employers must document deposits and distribute year-end tax documents to employees
Excise taxCertain businesses including manufacturers retail-ers and trucking companies are subject to excise tax Depending on industry-specific requirements excise tax is paid monthly quarterly or annually
The following deadlines are geared toward small businesses that follow a calendar-year reporting system Additional information including schedule modifications for fiscal-year tax filters appears in IRS Publication 509
Tax filings for wages and nonemployee compensa-tionBy January 31 employers must distribute paper copies of appropriate tax forms to individuals who received cash payments during 2019 including wages nonemployee compensation dividends royalties and profit-sharing distributions Alterna-tively electronic files can be delivered with the recipientrsquos consent Additional copies must be sub-mitted to the Social Security Administration at the same time The January 31 deadline applies to the following tax documents
Forms 1097 1098 and 1099Forms 3921 and 3922Forms W-2 and W-2GSmall businesses have until February 28 to send corresponding copies to the IRS Employers may also be required to submit Form 1096 Annual Summary and Transmittal of US Information Re-turns and Form 8027 Employerrsquos Annual Informa-tion Return of Tip Income and Allocated Tips For electronic filings the deadline for these filings is extended until April 1
Employment Taxes and Payroll WithholdingsBased on tax liability as reported on Form 941 Em-ployerrsquos Quarterly Federal Tax Return small busi-nesses must deposit employment taxes monthly or semi-weekly Items subject to this requirement include federal income tax federal unemployment (FUTA) tax and Social SecurityMedicare (FICA) withholdings Additionally employers must report their payroll withholdings quarterly or annually us-ing IRS Form 941 943 944 or 945 Key deadlines
Tax Date Extension Reminders
Continued on Page 124
Itrsquos just the beginningThese members are showing their ldquocolorsrdquo in our ldquoWersquore Hererdquo Campaign Email us at infophwmbaorg for an appointment for us to come by and get YOUR photo
The Village Gem - Perry Hall Square Jim Barby Automotive 10821 Philadelphia Rd White Marsh
Accent Printers11110 Pulaski Hwy White Marsh
Gold Medal Physical Therapy8640 Ridgelys Choice Dr Nottingham
5
Financial Info for investors
6
submitted by member Andy Smith Mid-Atlantic Wealth Advisors
For more updates contact Andy Smith Mid-Atlantic Wealth Advisors Click HERE for website connection
7
4 Tax deductions for independent contractorsSource Hiscox Blog
Yoursquove put a lot of work into becoming an independent contractor Now itrsquos time to make sure you take advantage of the tax deductions that come with being your own boss Just remember before you claim something as a deduction make sure you have good records to back it up The IRS can be a stickler for documentation and wants to see that the money you spent was actually used for business With that in mind here are four business-related expenses that can help your bottom line at tax time
1 MarketingFrom business cards to websites to ads on social media the way you promote yourself can be a de-ductible expense Do you run Facebook ads to grow your T-shirt business for instance Keep track and deduct what you spend on your campaigns Or maybe you decide to go a little more old school and dis-tribute flyers at a music festival If so get ready to deduct the cost of the flyers themselves and any asso-ciated design fees Advertising can be an important part of your overall business strategy so donrsquot ignore it as a deduction
2 RentMany independent contractors work out of a home office which has its own tax advantages But lately more and more freelancers are opting for coworking environments where they share space and build friendships with other workers From 2010 to 2017 the number of coworking spaces in the US rose from less than 300 to more than 4000 If yoursquore in that situation you may be able to deduct the fees you pay Even better in some cases you may be able to keep your home office deduction and deduct the cost of joining a coworking space To be sure contact a tax professional
3 Education To stay competitive in todayrsquos business climate self-employed professionals often need to update their skills Those expenses can be tax deductible as long as the education is related to the job Many times independent contractors overlook this potential deduction But think of it this way To keep up on best practices a freelance web developer might need to attend a seminar on how to combat the latest com-puter viruses But if that same developer attended a webinar on how to score the best travel deals itrsquos probably not going to fly with the IRS Just remember If you need it to do your job better itrsquos a safer bet for a tax deduction
4 InsuranceInsurance is an important way to protect yourself and your business It also can lead to hefty deductions As a self-employed professional you may be able to deduct premiums for medical dental and long-term care insurance There are some caveats however so do your homework before you begin your taxes
Premiums for business insurance may also be deductible Experts such as Harvey I Bezozi a certified public accountant and certified financial planner who has worked with small businesses for more than three decades recommend independent contractors purchase business insurance of which there are several types
Are you a freelance journalist writing about the rich and powerful You probably want to consider in-surance that will cover libel and slander Whatever your field itrsquos important to assess the risks to your business and make sure yoursquore covered Hiscox offers various types of business insurance to protect independent contractors And remember For more detailed information about tax deductions itrsquos always important to reach out to a tax professional
Cisco recently predicted that video content will ac-count for 69 of all consumer internet traffic this year
This is the last call for all marketers who until now have avoided video content convinced that itrsquos just a fad or that creating professional videos takes way too much time effort and money Well herersquos a piece of good news video marketing today is within reach of all kinds of companies including small businesses looking for novel ways to spice up their online mar-keting activities How to develop a video marketing strategy that works Here are 6 key tips to help your small business develop a video marketing strategy
This guide explains how develop a video marketing strategy structured around the Smart Insights Reach-Act-Convert-Engage framework
1 Know your sector and audience
Before you start to define and develop your market-ing strategy research your industry to see what kinds of videos are used by other companies in your sector Once you have a grasp on the general use of video in marketing similar products or services itrsquos time to think about your own goals which should power your strategy in general and every single video in detail
What are the possible goals of video marketing Here are a few examples
Helping customers learn new skillsTeaching your audience how to use your productProviding advice and answering popular questions to minimize support requestsBuilding a brand personalityGrowing specific sections of your audience (for in-stance newsletter or blog subscribers)Building company culture and attractive employer brand
2 Try different video types
Itrsquos important that you incorporate different video types into your strategy ndash it will help you learn which perform best for your business and truly engage your audience
There are three main types of videos used for marketing
Storytelling videos ndash videos that present the com-pany its story as well as employee profiles This kind of video help customers to learn the story behind a brand and get an idea about the people operating the business in some interesting behind-the-scenes vid-eos Such videos are excellent for building a strong brand and fostering a sense of consumer trust and loyalty
Animated Explainer videos ndash these videos are focused on solving a problem explaining it in a lsquohow torsquo format This kind of videos is great for SEO ndash over the years their search rankings have literally explod-ed as consumers learned to trust this format
Video testimonials ndash sharing videos which show third party testimonials are great for building your credibility and showing potential clients that your product or service brings tangible benefitsVideo for small business
3 Collaborate with a professional studio
Small businesses have limited marketing budgets but investing in a collaboration with a professional studio that will help you realize videos is worth the price Great video marketing will bring you new leads and sales so if you find people who know their way around video making and can help you with planning and integration go for it
If someone in your team is able to create profes-sional videos therersquos nothing standing between you and video content marketing The web is actually full of free or paid tools that can help your team to create videos and animations to perfectly showcase your product and brand
4 Make sure every video delivers a single message
Imagine yoursquove just stumbled upon a video about a brand You click play and get to see the company headquarters a review of its products a note about
8
continued on page 9
Small businesses can use video to boost awareness leads and sales using these 6 ideas
Applications are available nowfor The Town Fair
PHWMBA Members get a $25discount on their space and premium
placement in our famous MEMBER SHOWCASE ROW
Mark your calendars nowSeptember 5th 10-3
thetownfairnet
The Town Fairhas been
rescheduledto
September 5th
(Labor day weekend)
Send us your announcements special information photos
ANYTIMEWe send out our informational emails on a regular basis
Let us spread the word for you
Email anything you want to say toinfophwmbaorg
Let us help you TODAY
its heritage some photos of new locations information on business awards behind-the-scenes footage and a few words from the CEO What exactly did you learn about the company Nothing at all ndash in fact itrsquos a miracle yoursquove made it through the video at all
When creating scripts and realizing your video make sure that every single piece includes a message This way yoursquoll ensure that viewers leave your video with one specific takeaway that will help them to differentiate your brand from competition
5 Mind the length
One research study suggests that 20 of users abandon a video after a mere 10 seconds if they donrsquot find it engaging enough Itrsquos your job to make sure that the first seconds of your video count Additionally the longer is your video the less likely users will continue to watch it
Make sure to keep your videos short and to the point In most cases 60 to 90 seconds will work perfectly ndash just enough to deliver a piece of meaningful content offer a few takeaway messages and leave your audience crav-ing more
6 Include call-to-action messaging
Every single video you make should be there to realise a specific goal You wonrsquot achieve your objectives without making them clear to your audience in the form of a call-to-action ndash give your audience the next step to follow Include a call-to-action message at the very end of your video ndash lsquoGive us a call for a free quotersquo lsquoVisit our website to learn morersquo or lsquoFollow us on FacebookTwitterrsquo
Developing a successful video marketing strategy takes time but by trying out different video formats and test-ing their performance as you go yoursquoll be on your way to making the most of this innovative medium and finding a space for yourself in the lucrative video marketing industry thatrsquos just around the corner
Thanks to Kelly Smith for sharing their advice and opinions in this post Kelly Smith is a digital marketing specialist at Career FAQs You can follow Career FAQs on Twitter
continued from page 7Video Marketing for Small Business
10
Not free- but we will WORK FOR YOU NOW and you can PAY FOR IT LATER Set up a conference to todayYou may need to do business differently in the coming months BE PREPARED Picture This Multimedia Service is offering to help you GET STARTED NOW to be ready for being back to business s with a DEFERRED PAYMENT PLAN
bull Marketing ideas strategies and plansbull Website refreshing updating remodeling
bull Social Media content amp managementbull Updated business site photography (soon but not today)
picturethismultimediacomcastnet bull 410-493-4984 bull Lynn Richardson
WILL WORK FOR YOU
Give Blood Give Life
Johns Hopkins Bayview Blood Drive
June 17-19 2020 730 am to 530 pm
Asthma amp Allergy Center 5501 Hopkins Bayview Circle
Baltimore MD 21224
All participants receive a special gift More important they will take pride in knowing
they saved up to 3 lives
Email reyring1jhmiedu or call 410-550-0289 to schedule
a life-saving donation
for Form 941 are April 30 July 31 October 30 and January 29 2021 All other forms in the 940 series are due on the last day of the first month after the end of the calendar year
Form 940 Employerrsquos Annual Federal Unemploy-ment (FUTA) Tax ReturnForm 943 Employerrsquos Annual Federal Tax Return for Agricultural EmployeesForm 944 Employerrsquos Annual Federal Tax ReturnForm 945 Annual Return of Withheld Federal In-come TaxIncome Tax Returns for Partnerships and S Corpo-rationsIf your business is classified as a partnership or an S corporation you must submit your tax return on March 16 or the 15th day of the third month after the end of your organizationrsquos tax year Partner-ships must complete Form 1065 which is used to generate a Schedule K-1 earnings statement for each partner For S corporations Form 1120S is needed to prepare the Schedule K-1
Partnerships and S corporations may request a six-month extension by submitting Form 7004 along with a deposit equal to the amount of estimated tax owed In this case the annual tax return along with interest and penalties will be due on September 15
Corporate income tax returnsCompanies have until July 15 2020 to submit corporate tax returns for income received in 2019 Businesses may use Form 1120 or request a six-month extension by filing Form 7004 and submit-ting a deposit for the amount of estimated tax owed The first quarterly estimated tax payment of the year is also due on this date
If your business requests an extension you have until October 15 to submit your income tax return using Form 1120 Yoursquoll be required to pay penal-ties interest and any remaining tax at that time
2020 Tax filing deadlines for estimated income taxBusinesses must calculate their quarterly income tax liability using the worksheet Form 1120-W Quarterly estimated income tax payments for cor-porations are due on the following dates
First quarter July 15Second quarter June 15Third quarter September 15Fourth quarter December 15Federal excise tax requirements for small busi-nessesFederal excise taxes apply to a number of different products and industries Filing requirements vary depending on the nature of your business
Form 720 Quarterly Federal Excise Tax Return applies to retailers manufacturers communications companies and travel services Itrsquos filed quarterly with this yearrsquos due dates falling on April 30 July 31 October 30 and January 29 2021Companies that accept wagers must file Form 11-C Occupational Tax and Registration Return for Wagering before accepting any bets and Form 730 for every subsequent monthCompanies that operate heavy highway vehicles must file Form 2290 by the last day of the vehiclersquos first month of service For subsequent filings the excise tax period begins on July 1 and ends on June 30Find more information about when to file taxes 2020This guide includes an overview of the 2020 tax filing deadlines that apply to small businesses Your company may also qualify for tax credits and deductions on essential expenses such as busi-ness insurance which may reduce your tax burden If you have specific questions about when to file taxes in 2020 additional information is available online through the IRS Small Business and Self-Employed Tax Center
Tax Date Extension Reminders Continued from Page 4
The IRS has extended the tax deadline to July 15th Personal and business income taxes that were due on April 15 can now be filed any time be-fore July 15 2020 The extended deadline applies to payments due as well This revised post reflects the new deadline
As the year begins itrsquos time to close out your books and prepare for the looming 2020 tax filing dead-lines Between quarterly income tax filings and semiweekly payroll withholdings for most business-es itrsquos tax season all year
Your small business tax checklist for 2020Whether yoursquove started your first company this year or you are a veteran entrepreneur your business might be subject to a variety of federal taxes Re-quired tax filings depend on your industry annual revenue and number of employees
Most businesses and self-employed individuals must submit estimated tax payments quarterly and file an income tax return annually Filing dates de-pend on whether you operate a corporation part-nership S corporation or sole proprietorship
Sole proprietorships use the same tax schedule as individuals so returns are due on July 15 2020 If your business is a S corporation or a partnership the return was due on March 16 2020 Corpora-tions can have various tax filing deadlines and it should be defined in your corporate resolution
State income tax due dates can vary Check with the tax collection authority in your state for the filing and payment deadline in your state
Employment taxPayroll withholdings and unemployment tax pay-ments are submitted semi-weekly or monthly depending on your filing status Employers must document deposits and distribute year-end tax documents to employees
Excise taxCertain businesses including manufacturers retail-ers and trucking companies are subject to excise tax Depending on industry-specific requirements excise tax is paid monthly quarterly or annually
The following deadlines are geared toward small businesses that follow a calendar-year reporting system Additional information including schedule modifications for fiscal-year tax filters appears in IRS Publication 509
Tax filings for wages and nonemployee compensa-tionBy January 31 employers must distribute paper copies of appropriate tax forms to individuals who received cash payments during 2019 including wages nonemployee compensation dividends royalties and profit-sharing distributions Alterna-tively electronic files can be delivered with the recipientrsquos consent Additional copies must be sub-mitted to the Social Security Administration at the same time The January 31 deadline applies to the following tax documents
Forms 1097 1098 and 1099Forms 3921 and 3922Forms W-2 and W-2GSmall businesses have until February 28 to send corresponding copies to the IRS Employers may also be required to submit Form 1096 Annual Summary and Transmittal of US Information Re-turns and Form 8027 Employerrsquos Annual Informa-tion Return of Tip Income and Allocated Tips For electronic filings the deadline for these filings is extended until April 1
Employment Taxes and Payroll WithholdingsBased on tax liability as reported on Form 941 Em-ployerrsquos Quarterly Federal Tax Return small busi-nesses must deposit employment taxes monthly or semi-weekly Items subject to this requirement include federal income tax federal unemployment (FUTA) tax and Social SecurityMedicare (FICA) withholdings Additionally employers must report their payroll withholdings quarterly or annually us-ing IRS Form 941 943 944 or 945 Key deadlines
Tax Date Extension Reminders
Continued on Page 124
Itrsquos just the beginningThese members are showing their ldquocolorsrdquo in our ldquoWersquore Hererdquo Campaign Email us at infophwmbaorg for an appointment for us to come by and get YOUR photo
The Village Gem - Perry Hall Square Jim Barby Automotive 10821 Philadelphia Rd White Marsh
Accent Printers11110 Pulaski Hwy White Marsh
Gold Medal Physical Therapy8640 Ridgelys Choice Dr Nottingham
5
Financial Info for investors
6
submitted by member Andy Smith Mid-Atlantic Wealth Advisors
For more updates contact Andy Smith Mid-Atlantic Wealth Advisors Click HERE for website connection
7
4 Tax deductions for independent contractorsSource Hiscox Blog
Yoursquove put a lot of work into becoming an independent contractor Now itrsquos time to make sure you take advantage of the tax deductions that come with being your own boss Just remember before you claim something as a deduction make sure you have good records to back it up The IRS can be a stickler for documentation and wants to see that the money you spent was actually used for business With that in mind here are four business-related expenses that can help your bottom line at tax time
1 MarketingFrom business cards to websites to ads on social media the way you promote yourself can be a de-ductible expense Do you run Facebook ads to grow your T-shirt business for instance Keep track and deduct what you spend on your campaigns Or maybe you decide to go a little more old school and dis-tribute flyers at a music festival If so get ready to deduct the cost of the flyers themselves and any asso-ciated design fees Advertising can be an important part of your overall business strategy so donrsquot ignore it as a deduction
2 RentMany independent contractors work out of a home office which has its own tax advantages But lately more and more freelancers are opting for coworking environments where they share space and build friendships with other workers From 2010 to 2017 the number of coworking spaces in the US rose from less than 300 to more than 4000 If yoursquore in that situation you may be able to deduct the fees you pay Even better in some cases you may be able to keep your home office deduction and deduct the cost of joining a coworking space To be sure contact a tax professional
3 Education To stay competitive in todayrsquos business climate self-employed professionals often need to update their skills Those expenses can be tax deductible as long as the education is related to the job Many times independent contractors overlook this potential deduction But think of it this way To keep up on best practices a freelance web developer might need to attend a seminar on how to combat the latest com-puter viruses But if that same developer attended a webinar on how to score the best travel deals itrsquos probably not going to fly with the IRS Just remember If you need it to do your job better itrsquos a safer bet for a tax deduction
4 InsuranceInsurance is an important way to protect yourself and your business It also can lead to hefty deductions As a self-employed professional you may be able to deduct premiums for medical dental and long-term care insurance There are some caveats however so do your homework before you begin your taxes
Premiums for business insurance may also be deductible Experts such as Harvey I Bezozi a certified public accountant and certified financial planner who has worked with small businesses for more than three decades recommend independent contractors purchase business insurance of which there are several types
Are you a freelance journalist writing about the rich and powerful You probably want to consider in-surance that will cover libel and slander Whatever your field itrsquos important to assess the risks to your business and make sure yoursquore covered Hiscox offers various types of business insurance to protect independent contractors And remember For more detailed information about tax deductions itrsquos always important to reach out to a tax professional
Cisco recently predicted that video content will ac-count for 69 of all consumer internet traffic this year
This is the last call for all marketers who until now have avoided video content convinced that itrsquos just a fad or that creating professional videos takes way too much time effort and money Well herersquos a piece of good news video marketing today is within reach of all kinds of companies including small businesses looking for novel ways to spice up their online mar-keting activities How to develop a video marketing strategy that works Here are 6 key tips to help your small business develop a video marketing strategy
This guide explains how develop a video marketing strategy structured around the Smart Insights Reach-Act-Convert-Engage framework
1 Know your sector and audience
Before you start to define and develop your market-ing strategy research your industry to see what kinds of videos are used by other companies in your sector Once you have a grasp on the general use of video in marketing similar products or services itrsquos time to think about your own goals which should power your strategy in general and every single video in detail
What are the possible goals of video marketing Here are a few examples
Helping customers learn new skillsTeaching your audience how to use your productProviding advice and answering popular questions to minimize support requestsBuilding a brand personalityGrowing specific sections of your audience (for in-stance newsletter or blog subscribers)Building company culture and attractive employer brand
2 Try different video types
Itrsquos important that you incorporate different video types into your strategy ndash it will help you learn which perform best for your business and truly engage your audience
There are three main types of videos used for marketing
Storytelling videos ndash videos that present the com-pany its story as well as employee profiles This kind of video help customers to learn the story behind a brand and get an idea about the people operating the business in some interesting behind-the-scenes vid-eos Such videos are excellent for building a strong brand and fostering a sense of consumer trust and loyalty
Animated Explainer videos ndash these videos are focused on solving a problem explaining it in a lsquohow torsquo format This kind of videos is great for SEO ndash over the years their search rankings have literally explod-ed as consumers learned to trust this format
Video testimonials ndash sharing videos which show third party testimonials are great for building your credibility and showing potential clients that your product or service brings tangible benefitsVideo for small business
3 Collaborate with a professional studio
Small businesses have limited marketing budgets but investing in a collaboration with a professional studio that will help you realize videos is worth the price Great video marketing will bring you new leads and sales so if you find people who know their way around video making and can help you with planning and integration go for it
If someone in your team is able to create profes-sional videos therersquos nothing standing between you and video content marketing The web is actually full of free or paid tools that can help your team to create videos and animations to perfectly showcase your product and brand
4 Make sure every video delivers a single message
Imagine yoursquove just stumbled upon a video about a brand You click play and get to see the company headquarters a review of its products a note about
8
continued on page 9
Small businesses can use video to boost awareness leads and sales using these 6 ideas
Applications are available nowfor The Town Fair
PHWMBA Members get a $25discount on their space and premium
placement in our famous MEMBER SHOWCASE ROW
Mark your calendars nowSeptember 5th 10-3
thetownfairnet
The Town Fairhas been
rescheduledto
September 5th
(Labor day weekend)
Send us your announcements special information photos
ANYTIMEWe send out our informational emails on a regular basis
Let us spread the word for you
Email anything you want to say toinfophwmbaorg
Let us help you TODAY
its heritage some photos of new locations information on business awards behind-the-scenes footage and a few words from the CEO What exactly did you learn about the company Nothing at all ndash in fact itrsquos a miracle yoursquove made it through the video at all
When creating scripts and realizing your video make sure that every single piece includes a message This way yoursquoll ensure that viewers leave your video with one specific takeaway that will help them to differentiate your brand from competition
5 Mind the length
One research study suggests that 20 of users abandon a video after a mere 10 seconds if they donrsquot find it engaging enough Itrsquos your job to make sure that the first seconds of your video count Additionally the longer is your video the less likely users will continue to watch it
Make sure to keep your videos short and to the point In most cases 60 to 90 seconds will work perfectly ndash just enough to deliver a piece of meaningful content offer a few takeaway messages and leave your audience crav-ing more
6 Include call-to-action messaging
Every single video you make should be there to realise a specific goal You wonrsquot achieve your objectives without making them clear to your audience in the form of a call-to-action ndash give your audience the next step to follow Include a call-to-action message at the very end of your video ndash lsquoGive us a call for a free quotersquo lsquoVisit our website to learn morersquo or lsquoFollow us on FacebookTwitterrsquo
Developing a successful video marketing strategy takes time but by trying out different video formats and test-ing their performance as you go yoursquoll be on your way to making the most of this innovative medium and finding a space for yourself in the lucrative video marketing industry thatrsquos just around the corner
Thanks to Kelly Smith for sharing their advice and opinions in this post Kelly Smith is a digital marketing specialist at Career FAQs You can follow Career FAQs on Twitter
continued from page 7Video Marketing for Small Business
10
Not free- but we will WORK FOR YOU NOW and you can PAY FOR IT LATER Set up a conference to todayYou may need to do business differently in the coming months BE PREPARED Picture This Multimedia Service is offering to help you GET STARTED NOW to be ready for being back to business s with a DEFERRED PAYMENT PLAN
bull Marketing ideas strategies and plansbull Website refreshing updating remodeling
bull Social Media content amp managementbull Updated business site photography (soon but not today)
picturethismultimediacomcastnet bull 410-493-4984 bull Lynn Richardson
WILL WORK FOR YOU
Give Blood Give Life
Johns Hopkins Bayview Blood Drive
June 17-19 2020 730 am to 530 pm
Asthma amp Allergy Center 5501 Hopkins Bayview Circle
Baltimore MD 21224
All participants receive a special gift More important they will take pride in knowing
they saved up to 3 lives
Email reyring1jhmiedu or call 410-550-0289 to schedule
a life-saving donation
for Form 941 are April 30 July 31 October 30 and January 29 2021 All other forms in the 940 series are due on the last day of the first month after the end of the calendar year
Form 940 Employerrsquos Annual Federal Unemploy-ment (FUTA) Tax ReturnForm 943 Employerrsquos Annual Federal Tax Return for Agricultural EmployeesForm 944 Employerrsquos Annual Federal Tax ReturnForm 945 Annual Return of Withheld Federal In-come TaxIncome Tax Returns for Partnerships and S Corpo-rationsIf your business is classified as a partnership or an S corporation you must submit your tax return on March 16 or the 15th day of the third month after the end of your organizationrsquos tax year Partner-ships must complete Form 1065 which is used to generate a Schedule K-1 earnings statement for each partner For S corporations Form 1120S is needed to prepare the Schedule K-1
Partnerships and S corporations may request a six-month extension by submitting Form 7004 along with a deposit equal to the amount of estimated tax owed In this case the annual tax return along with interest and penalties will be due on September 15
Corporate income tax returnsCompanies have until July 15 2020 to submit corporate tax returns for income received in 2019 Businesses may use Form 1120 or request a six-month extension by filing Form 7004 and submit-ting a deposit for the amount of estimated tax owed The first quarterly estimated tax payment of the year is also due on this date
If your business requests an extension you have until October 15 to submit your income tax return using Form 1120 Yoursquoll be required to pay penal-ties interest and any remaining tax at that time
2020 Tax filing deadlines for estimated income taxBusinesses must calculate their quarterly income tax liability using the worksheet Form 1120-W Quarterly estimated income tax payments for cor-porations are due on the following dates
First quarter July 15Second quarter June 15Third quarter September 15Fourth quarter December 15Federal excise tax requirements for small busi-nessesFederal excise taxes apply to a number of different products and industries Filing requirements vary depending on the nature of your business
Form 720 Quarterly Federal Excise Tax Return applies to retailers manufacturers communications companies and travel services Itrsquos filed quarterly with this yearrsquos due dates falling on April 30 July 31 October 30 and January 29 2021Companies that accept wagers must file Form 11-C Occupational Tax and Registration Return for Wagering before accepting any bets and Form 730 for every subsequent monthCompanies that operate heavy highway vehicles must file Form 2290 by the last day of the vehiclersquos first month of service For subsequent filings the excise tax period begins on July 1 and ends on June 30Find more information about when to file taxes 2020This guide includes an overview of the 2020 tax filing deadlines that apply to small businesses Your company may also qualify for tax credits and deductions on essential expenses such as busi-ness insurance which may reduce your tax burden If you have specific questions about when to file taxes in 2020 additional information is available online through the IRS Small Business and Self-Employed Tax Center
Tax Date Extension Reminders Continued from Page 4
Itrsquos just the beginningThese members are showing their ldquocolorsrdquo in our ldquoWersquore Hererdquo Campaign Email us at infophwmbaorg for an appointment for us to come by and get YOUR photo
The Village Gem - Perry Hall Square Jim Barby Automotive 10821 Philadelphia Rd White Marsh
Accent Printers11110 Pulaski Hwy White Marsh
Gold Medal Physical Therapy8640 Ridgelys Choice Dr Nottingham
5
Financial Info for investors
6
submitted by member Andy Smith Mid-Atlantic Wealth Advisors
For more updates contact Andy Smith Mid-Atlantic Wealth Advisors Click HERE for website connection
7
4 Tax deductions for independent contractorsSource Hiscox Blog
Yoursquove put a lot of work into becoming an independent contractor Now itrsquos time to make sure you take advantage of the tax deductions that come with being your own boss Just remember before you claim something as a deduction make sure you have good records to back it up The IRS can be a stickler for documentation and wants to see that the money you spent was actually used for business With that in mind here are four business-related expenses that can help your bottom line at tax time
1 MarketingFrom business cards to websites to ads on social media the way you promote yourself can be a de-ductible expense Do you run Facebook ads to grow your T-shirt business for instance Keep track and deduct what you spend on your campaigns Or maybe you decide to go a little more old school and dis-tribute flyers at a music festival If so get ready to deduct the cost of the flyers themselves and any asso-ciated design fees Advertising can be an important part of your overall business strategy so donrsquot ignore it as a deduction
2 RentMany independent contractors work out of a home office which has its own tax advantages But lately more and more freelancers are opting for coworking environments where they share space and build friendships with other workers From 2010 to 2017 the number of coworking spaces in the US rose from less than 300 to more than 4000 If yoursquore in that situation you may be able to deduct the fees you pay Even better in some cases you may be able to keep your home office deduction and deduct the cost of joining a coworking space To be sure contact a tax professional
3 Education To stay competitive in todayrsquos business climate self-employed professionals often need to update their skills Those expenses can be tax deductible as long as the education is related to the job Many times independent contractors overlook this potential deduction But think of it this way To keep up on best practices a freelance web developer might need to attend a seminar on how to combat the latest com-puter viruses But if that same developer attended a webinar on how to score the best travel deals itrsquos probably not going to fly with the IRS Just remember If you need it to do your job better itrsquos a safer bet for a tax deduction
4 InsuranceInsurance is an important way to protect yourself and your business It also can lead to hefty deductions As a self-employed professional you may be able to deduct premiums for medical dental and long-term care insurance There are some caveats however so do your homework before you begin your taxes
Premiums for business insurance may also be deductible Experts such as Harvey I Bezozi a certified public accountant and certified financial planner who has worked with small businesses for more than three decades recommend independent contractors purchase business insurance of which there are several types
Are you a freelance journalist writing about the rich and powerful You probably want to consider in-surance that will cover libel and slander Whatever your field itrsquos important to assess the risks to your business and make sure yoursquore covered Hiscox offers various types of business insurance to protect independent contractors And remember For more detailed information about tax deductions itrsquos always important to reach out to a tax professional
Cisco recently predicted that video content will ac-count for 69 of all consumer internet traffic this year
This is the last call for all marketers who until now have avoided video content convinced that itrsquos just a fad or that creating professional videos takes way too much time effort and money Well herersquos a piece of good news video marketing today is within reach of all kinds of companies including small businesses looking for novel ways to spice up their online mar-keting activities How to develop a video marketing strategy that works Here are 6 key tips to help your small business develop a video marketing strategy
This guide explains how develop a video marketing strategy structured around the Smart Insights Reach-Act-Convert-Engage framework
1 Know your sector and audience
Before you start to define and develop your market-ing strategy research your industry to see what kinds of videos are used by other companies in your sector Once you have a grasp on the general use of video in marketing similar products or services itrsquos time to think about your own goals which should power your strategy in general and every single video in detail
What are the possible goals of video marketing Here are a few examples
Helping customers learn new skillsTeaching your audience how to use your productProviding advice and answering popular questions to minimize support requestsBuilding a brand personalityGrowing specific sections of your audience (for in-stance newsletter or blog subscribers)Building company culture and attractive employer brand
2 Try different video types
Itrsquos important that you incorporate different video types into your strategy ndash it will help you learn which perform best for your business and truly engage your audience
There are three main types of videos used for marketing
Storytelling videos ndash videos that present the com-pany its story as well as employee profiles This kind of video help customers to learn the story behind a brand and get an idea about the people operating the business in some interesting behind-the-scenes vid-eos Such videos are excellent for building a strong brand and fostering a sense of consumer trust and loyalty
Animated Explainer videos ndash these videos are focused on solving a problem explaining it in a lsquohow torsquo format This kind of videos is great for SEO ndash over the years their search rankings have literally explod-ed as consumers learned to trust this format
Video testimonials ndash sharing videos which show third party testimonials are great for building your credibility and showing potential clients that your product or service brings tangible benefitsVideo for small business
3 Collaborate with a professional studio
Small businesses have limited marketing budgets but investing in a collaboration with a professional studio that will help you realize videos is worth the price Great video marketing will bring you new leads and sales so if you find people who know their way around video making and can help you with planning and integration go for it
If someone in your team is able to create profes-sional videos therersquos nothing standing between you and video content marketing The web is actually full of free or paid tools that can help your team to create videos and animations to perfectly showcase your product and brand
4 Make sure every video delivers a single message
Imagine yoursquove just stumbled upon a video about a brand You click play and get to see the company headquarters a review of its products a note about
8
continued on page 9
Small businesses can use video to boost awareness leads and sales using these 6 ideas
Applications are available nowfor The Town Fair
PHWMBA Members get a $25discount on their space and premium
placement in our famous MEMBER SHOWCASE ROW
Mark your calendars nowSeptember 5th 10-3
thetownfairnet
The Town Fairhas been
rescheduledto
September 5th
(Labor day weekend)
Send us your announcements special information photos
ANYTIMEWe send out our informational emails on a regular basis
Let us spread the word for you
Email anything you want to say toinfophwmbaorg
Let us help you TODAY
its heritage some photos of new locations information on business awards behind-the-scenes footage and a few words from the CEO What exactly did you learn about the company Nothing at all ndash in fact itrsquos a miracle yoursquove made it through the video at all
When creating scripts and realizing your video make sure that every single piece includes a message This way yoursquoll ensure that viewers leave your video with one specific takeaway that will help them to differentiate your brand from competition
5 Mind the length
One research study suggests that 20 of users abandon a video after a mere 10 seconds if they donrsquot find it engaging enough Itrsquos your job to make sure that the first seconds of your video count Additionally the longer is your video the less likely users will continue to watch it
Make sure to keep your videos short and to the point In most cases 60 to 90 seconds will work perfectly ndash just enough to deliver a piece of meaningful content offer a few takeaway messages and leave your audience crav-ing more
6 Include call-to-action messaging
Every single video you make should be there to realise a specific goal You wonrsquot achieve your objectives without making them clear to your audience in the form of a call-to-action ndash give your audience the next step to follow Include a call-to-action message at the very end of your video ndash lsquoGive us a call for a free quotersquo lsquoVisit our website to learn morersquo or lsquoFollow us on FacebookTwitterrsquo
Developing a successful video marketing strategy takes time but by trying out different video formats and test-ing their performance as you go yoursquoll be on your way to making the most of this innovative medium and finding a space for yourself in the lucrative video marketing industry thatrsquos just around the corner
Thanks to Kelly Smith for sharing their advice and opinions in this post Kelly Smith is a digital marketing specialist at Career FAQs You can follow Career FAQs on Twitter
continued from page 7Video Marketing for Small Business
10
Not free- but we will WORK FOR YOU NOW and you can PAY FOR IT LATER Set up a conference to todayYou may need to do business differently in the coming months BE PREPARED Picture This Multimedia Service is offering to help you GET STARTED NOW to be ready for being back to business s with a DEFERRED PAYMENT PLAN
bull Marketing ideas strategies and plansbull Website refreshing updating remodeling
bull Social Media content amp managementbull Updated business site photography (soon but not today)
picturethismultimediacomcastnet bull 410-493-4984 bull Lynn Richardson
WILL WORK FOR YOU
Give Blood Give Life
Johns Hopkins Bayview Blood Drive
June 17-19 2020 730 am to 530 pm
Asthma amp Allergy Center 5501 Hopkins Bayview Circle
Baltimore MD 21224
All participants receive a special gift More important they will take pride in knowing
they saved up to 3 lives
Email reyring1jhmiedu or call 410-550-0289 to schedule
a life-saving donation
for Form 941 are April 30 July 31 October 30 and January 29 2021 All other forms in the 940 series are due on the last day of the first month after the end of the calendar year
Form 940 Employerrsquos Annual Federal Unemploy-ment (FUTA) Tax ReturnForm 943 Employerrsquos Annual Federal Tax Return for Agricultural EmployeesForm 944 Employerrsquos Annual Federal Tax ReturnForm 945 Annual Return of Withheld Federal In-come TaxIncome Tax Returns for Partnerships and S Corpo-rationsIf your business is classified as a partnership or an S corporation you must submit your tax return on March 16 or the 15th day of the third month after the end of your organizationrsquos tax year Partner-ships must complete Form 1065 which is used to generate a Schedule K-1 earnings statement for each partner For S corporations Form 1120S is needed to prepare the Schedule K-1
Partnerships and S corporations may request a six-month extension by submitting Form 7004 along with a deposit equal to the amount of estimated tax owed In this case the annual tax return along with interest and penalties will be due on September 15
Corporate income tax returnsCompanies have until July 15 2020 to submit corporate tax returns for income received in 2019 Businesses may use Form 1120 or request a six-month extension by filing Form 7004 and submit-ting a deposit for the amount of estimated tax owed The first quarterly estimated tax payment of the year is also due on this date
If your business requests an extension you have until October 15 to submit your income tax return using Form 1120 Yoursquoll be required to pay penal-ties interest and any remaining tax at that time
2020 Tax filing deadlines for estimated income taxBusinesses must calculate their quarterly income tax liability using the worksheet Form 1120-W Quarterly estimated income tax payments for cor-porations are due on the following dates
First quarter July 15Second quarter June 15Third quarter September 15Fourth quarter December 15Federal excise tax requirements for small busi-nessesFederal excise taxes apply to a number of different products and industries Filing requirements vary depending on the nature of your business
Form 720 Quarterly Federal Excise Tax Return applies to retailers manufacturers communications companies and travel services Itrsquos filed quarterly with this yearrsquos due dates falling on April 30 July 31 October 30 and January 29 2021Companies that accept wagers must file Form 11-C Occupational Tax and Registration Return for Wagering before accepting any bets and Form 730 for every subsequent monthCompanies that operate heavy highway vehicles must file Form 2290 by the last day of the vehiclersquos first month of service For subsequent filings the excise tax period begins on July 1 and ends on June 30Find more information about when to file taxes 2020This guide includes an overview of the 2020 tax filing deadlines that apply to small businesses Your company may also qualify for tax credits and deductions on essential expenses such as busi-ness insurance which may reduce your tax burden If you have specific questions about when to file taxes in 2020 additional information is available online through the IRS Small Business and Self-Employed Tax Center
Tax Date Extension Reminders Continued from Page 4
Financial Info for investors
6
submitted by member Andy Smith Mid-Atlantic Wealth Advisors
For more updates contact Andy Smith Mid-Atlantic Wealth Advisors Click HERE for website connection
7
4 Tax deductions for independent contractorsSource Hiscox Blog
Yoursquove put a lot of work into becoming an independent contractor Now itrsquos time to make sure you take advantage of the tax deductions that come with being your own boss Just remember before you claim something as a deduction make sure you have good records to back it up The IRS can be a stickler for documentation and wants to see that the money you spent was actually used for business With that in mind here are four business-related expenses that can help your bottom line at tax time
1 MarketingFrom business cards to websites to ads on social media the way you promote yourself can be a de-ductible expense Do you run Facebook ads to grow your T-shirt business for instance Keep track and deduct what you spend on your campaigns Or maybe you decide to go a little more old school and dis-tribute flyers at a music festival If so get ready to deduct the cost of the flyers themselves and any asso-ciated design fees Advertising can be an important part of your overall business strategy so donrsquot ignore it as a deduction
2 RentMany independent contractors work out of a home office which has its own tax advantages But lately more and more freelancers are opting for coworking environments where they share space and build friendships with other workers From 2010 to 2017 the number of coworking spaces in the US rose from less than 300 to more than 4000 If yoursquore in that situation you may be able to deduct the fees you pay Even better in some cases you may be able to keep your home office deduction and deduct the cost of joining a coworking space To be sure contact a tax professional
3 Education To stay competitive in todayrsquos business climate self-employed professionals often need to update their skills Those expenses can be tax deductible as long as the education is related to the job Many times independent contractors overlook this potential deduction But think of it this way To keep up on best practices a freelance web developer might need to attend a seminar on how to combat the latest com-puter viruses But if that same developer attended a webinar on how to score the best travel deals itrsquos probably not going to fly with the IRS Just remember If you need it to do your job better itrsquos a safer bet for a tax deduction
4 InsuranceInsurance is an important way to protect yourself and your business It also can lead to hefty deductions As a self-employed professional you may be able to deduct premiums for medical dental and long-term care insurance There are some caveats however so do your homework before you begin your taxes
Premiums for business insurance may also be deductible Experts such as Harvey I Bezozi a certified public accountant and certified financial planner who has worked with small businesses for more than three decades recommend independent contractors purchase business insurance of which there are several types
Are you a freelance journalist writing about the rich and powerful You probably want to consider in-surance that will cover libel and slander Whatever your field itrsquos important to assess the risks to your business and make sure yoursquore covered Hiscox offers various types of business insurance to protect independent contractors And remember For more detailed information about tax deductions itrsquos always important to reach out to a tax professional
Cisco recently predicted that video content will ac-count for 69 of all consumer internet traffic this year
This is the last call for all marketers who until now have avoided video content convinced that itrsquos just a fad or that creating professional videos takes way too much time effort and money Well herersquos a piece of good news video marketing today is within reach of all kinds of companies including small businesses looking for novel ways to spice up their online mar-keting activities How to develop a video marketing strategy that works Here are 6 key tips to help your small business develop a video marketing strategy
This guide explains how develop a video marketing strategy structured around the Smart Insights Reach-Act-Convert-Engage framework
1 Know your sector and audience
Before you start to define and develop your market-ing strategy research your industry to see what kinds of videos are used by other companies in your sector Once you have a grasp on the general use of video in marketing similar products or services itrsquos time to think about your own goals which should power your strategy in general and every single video in detail
What are the possible goals of video marketing Here are a few examples
Helping customers learn new skillsTeaching your audience how to use your productProviding advice and answering popular questions to minimize support requestsBuilding a brand personalityGrowing specific sections of your audience (for in-stance newsletter or blog subscribers)Building company culture and attractive employer brand
2 Try different video types
Itrsquos important that you incorporate different video types into your strategy ndash it will help you learn which perform best for your business and truly engage your audience
There are three main types of videos used for marketing
Storytelling videos ndash videos that present the com-pany its story as well as employee profiles This kind of video help customers to learn the story behind a brand and get an idea about the people operating the business in some interesting behind-the-scenes vid-eos Such videos are excellent for building a strong brand and fostering a sense of consumer trust and loyalty
Animated Explainer videos ndash these videos are focused on solving a problem explaining it in a lsquohow torsquo format This kind of videos is great for SEO ndash over the years their search rankings have literally explod-ed as consumers learned to trust this format
Video testimonials ndash sharing videos which show third party testimonials are great for building your credibility and showing potential clients that your product or service brings tangible benefitsVideo for small business
3 Collaborate with a professional studio
Small businesses have limited marketing budgets but investing in a collaboration with a professional studio that will help you realize videos is worth the price Great video marketing will bring you new leads and sales so if you find people who know their way around video making and can help you with planning and integration go for it
If someone in your team is able to create profes-sional videos therersquos nothing standing between you and video content marketing The web is actually full of free or paid tools that can help your team to create videos and animations to perfectly showcase your product and brand
4 Make sure every video delivers a single message
Imagine yoursquove just stumbled upon a video about a brand You click play and get to see the company headquarters a review of its products a note about
8
continued on page 9
Small businesses can use video to boost awareness leads and sales using these 6 ideas
Applications are available nowfor The Town Fair
PHWMBA Members get a $25discount on their space and premium
placement in our famous MEMBER SHOWCASE ROW
Mark your calendars nowSeptember 5th 10-3
thetownfairnet
The Town Fairhas been
rescheduledto
September 5th
(Labor day weekend)
Send us your announcements special information photos
ANYTIMEWe send out our informational emails on a regular basis
Let us spread the word for you
Email anything you want to say toinfophwmbaorg
Let us help you TODAY
its heritage some photos of new locations information on business awards behind-the-scenes footage and a few words from the CEO What exactly did you learn about the company Nothing at all ndash in fact itrsquos a miracle yoursquove made it through the video at all
When creating scripts and realizing your video make sure that every single piece includes a message This way yoursquoll ensure that viewers leave your video with one specific takeaway that will help them to differentiate your brand from competition
5 Mind the length
One research study suggests that 20 of users abandon a video after a mere 10 seconds if they donrsquot find it engaging enough Itrsquos your job to make sure that the first seconds of your video count Additionally the longer is your video the less likely users will continue to watch it
Make sure to keep your videos short and to the point In most cases 60 to 90 seconds will work perfectly ndash just enough to deliver a piece of meaningful content offer a few takeaway messages and leave your audience crav-ing more
6 Include call-to-action messaging
Every single video you make should be there to realise a specific goal You wonrsquot achieve your objectives without making them clear to your audience in the form of a call-to-action ndash give your audience the next step to follow Include a call-to-action message at the very end of your video ndash lsquoGive us a call for a free quotersquo lsquoVisit our website to learn morersquo or lsquoFollow us on FacebookTwitterrsquo
Developing a successful video marketing strategy takes time but by trying out different video formats and test-ing their performance as you go yoursquoll be on your way to making the most of this innovative medium and finding a space for yourself in the lucrative video marketing industry thatrsquos just around the corner
Thanks to Kelly Smith for sharing their advice and opinions in this post Kelly Smith is a digital marketing specialist at Career FAQs You can follow Career FAQs on Twitter
continued from page 7Video Marketing for Small Business
10
Not free- but we will WORK FOR YOU NOW and you can PAY FOR IT LATER Set up a conference to todayYou may need to do business differently in the coming months BE PREPARED Picture This Multimedia Service is offering to help you GET STARTED NOW to be ready for being back to business s with a DEFERRED PAYMENT PLAN
bull Marketing ideas strategies and plansbull Website refreshing updating remodeling
bull Social Media content amp managementbull Updated business site photography (soon but not today)
picturethismultimediacomcastnet bull 410-493-4984 bull Lynn Richardson
WILL WORK FOR YOU
Give Blood Give Life
Johns Hopkins Bayview Blood Drive
June 17-19 2020 730 am to 530 pm
Asthma amp Allergy Center 5501 Hopkins Bayview Circle
Baltimore MD 21224
All participants receive a special gift More important they will take pride in knowing
they saved up to 3 lives
Email reyring1jhmiedu or call 410-550-0289 to schedule
a life-saving donation
for Form 941 are April 30 July 31 October 30 and January 29 2021 All other forms in the 940 series are due on the last day of the first month after the end of the calendar year
Form 940 Employerrsquos Annual Federal Unemploy-ment (FUTA) Tax ReturnForm 943 Employerrsquos Annual Federal Tax Return for Agricultural EmployeesForm 944 Employerrsquos Annual Federal Tax ReturnForm 945 Annual Return of Withheld Federal In-come TaxIncome Tax Returns for Partnerships and S Corpo-rationsIf your business is classified as a partnership or an S corporation you must submit your tax return on March 16 or the 15th day of the third month after the end of your organizationrsquos tax year Partner-ships must complete Form 1065 which is used to generate a Schedule K-1 earnings statement for each partner For S corporations Form 1120S is needed to prepare the Schedule K-1
Partnerships and S corporations may request a six-month extension by submitting Form 7004 along with a deposit equal to the amount of estimated tax owed In this case the annual tax return along with interest and penalties will be due on September 15
Corporate income tax returnsCompanies have until July 15 2020 to submit corporate tax returns for income received in 2019 Businesses may use Form 1120 or request a six-month extension by filing Form 7004 and submit-ting a deposit for the amount of estimated tax owed The first quarterly estimated tax payment of the year is also due on this date
If your business requests an extension you have until October 15 to submit your income tax return using Form 1120 Yoursquoll be required to pay penal-ties interest and any remaining tax at that time
2020 Tax filing deadlines for estimated income taxBusinesses must calculate their quarterly income tax liability using the worksheet Form 1120-W Quarterly estimated income tax payments for cor-porations are due on the following dates
First quarter July 15Second quarter June 15Third quarter September 15Fourth quarter December 15Federal excise tax requirements for small busi-nessesFederal excise taxes apply to a number of different products and industries Filing requirements vary depending on the nature of your business
Form 720 Quarterly Federal Excise Tax Return applies to retailers manufacturers communications companies and travel services Itrsquos filed quarterly with this yearrsquos due dates falling on April 30 July 31 October 30 and January 29 2021Companies that accept wagers must file Form 11-C Occupational Tax and Registration Return for Wagering before accepting any bets and Form 730 for every subsequent monthCompanies that operate heavy highway vehicles must file Form 2290 by the last day of the vehiclersquos first month of service For subsequent filings the excise tax period begins on July 1 and ends on June 30Find more information about when to file taxes 2020This guide includes an overview of the 2020 tax filing deadlines that apply to small businesses Your company may also qualify for tax credits and deductions on essential expenses such as busi-ness insurance which may reduce your tax burden If you have specific questions about when to file taxes in 2020 additional information is available online through the IRS Small Business and Self-Employed Tax Center
Tax Date Extension Reminders Continued from Page 4
7
4 Tax deductions for independent contractorsSource Hiscox Blog
Yoursquove put a lot of work into becoming an independent contractor Now itrsquos time to make sure you take advantage of the tax deductions that come with being your own boss Just remember before you claim something as a deduction make sure you have good records to back it up The IRS can be a stickler for documentation and wants to see that the money you spent was actually used for business With that in mind here are four business-related expenses that can help your bottom line at tax time
1 MarketingFrom business cards to websites to ads on social media the way you promote yourself can be a de-ductible expense Do you run Facebook ads to grow your T-shirt business for instance Keep track and deduct what you spend on your campaigns Or maybe you decide to go a little more old school and dis-tribute flyers at a music festival If so get ready to deduct the cost of the flyers themselves and any asso-ciated design fees Advertising can be an important part of your overall business strategy so donrsquot ignore it as a deduction
2 RentMany independent contractors work out of a home office which has its own tax advantages But lately more and more freelancers are opting for coworking environments where they share space and build friendships with other workers From 2010 to 2017 the number of coworking spaces in the US rose from less than 300 to more than 4000 If yoursquore in that situation you may be able to deduct the fees you pay Even better in some cases you may be able to keep your home office deduction and deduct the cost of joining a coworking space To be sure contact a tax professional
3 Education To stay competitive in todayrsquos business climate self-employed professionals often need to update their skills Those expenses can be tax deductible as long as the education is related to the job Many times independent contractors overlook this potential deduction But think of it this way To keep up on best practices a freelance web developer might need to attend a seminar on how to combat the latest com-puter viruses But if that same developer attended a webinar on how to score the best travel deals itrsquos probably not going to fly with the IRS Just remember If you need it to do your job better itrsquos a safer bet for a tax deduction
4 InsuranceInsurance is an important way to protect yourself and your business It also can lead to hefty deductions As a self-employed professional you may be able to deduct premiums for medical dental and long-term care insurance There are some caveats however so do your homework before you begin your taxes
Premiums for business insurance may also be deductible Experts such as Harvey I Bezozi a certified public accountant and certified financial planner who has worked with small businesses for more than three decades recommend independent contractors purchase business insurance of which there are several types
Are you a freelance journalist writing about the rich and powerful You probably want to consider in-surance that will cover libel and slander Whatever your field itrsquos important to assess the risks to your business and make sure yoursquore covered Hiscox offers various types of business insurance to protect independent contractors And remember For more detailed information about tax deductions itrsquos always important to reach out to a tax professional
Cisco recently predicted that video content will ac-count for 69 of all consumer internet traffic this year
This is the last call for all marketers who until now have avoided video content convinced that itrsquos just a fad or that creating professional videos takes way too much time effort and money Well herersquos a piece of good news video marketing today is within reach of all kinds of companies including small businesses looking for novel ways to spice up their online mar-keting activities How to develop a video marketing strategy that works Here are 6 key tips to help your small business develop a video marketing strategy
This guide explains how develop a video marketing strategy structured around the Smart Insights Reach-Act-Convert-Engage framework
1 Know your sector and audience
Before you start to define and develop your market-ing strategy research your industry to see what kinds of videos are used by other companies in your sector Once you have a grasp on the general use of video in marketing similar products or services itrsquos time to think about your own goals which should power your strategy in general and every single video in detail
What are the possible goals of video marketing Here are a few examples
Helping customers learn new skillsTeaching your audience how to use your productProviding advice and answering popular questions to minimize support requestsBuilding a brand personalityGrowing specific sections of your audience (for in-stance newsletter or blog subscribers)Building company culture and attractive employer brand
2 Try different video types
Itrsquos important that you incorporate different video types into your strategy ndash it will help you learn which perform best for your business and truly engage your audience
There are three main types of videos used for marketing
Storytelling videos ndash videos that present the com-pany its story as well as employee profiles This kind of video help customers to learn the story behind a brand and get an idea about the people operating the business in some interesting behind-the-scenes vid-eos Such videos are excellent for building a strong brand and fostering a sense of consumer trust and loyalty
Animated Explainer videos ndash these videos are focused on solving a problem explaining it in a lsquohow torsquo format This kind of videos is great for SEO ndash over the years their search rankings have literally explod-ed as consumers learned to trust this format
Video testimonials ndash sharing videos which show third party testimonials are great for building your credibility and showing potential clients that your product or service brings tangible benefitsVideo for small business
3 Collaborate with a professional studio
Small businesses have limited marketing budgets but investing in a collaboration with a professional studio that will help you realize videos is worth the price Great video marketing will bring you new leads and sales so if you find people who know their way around video making and can help you with planning and integration go for it
If someone in your team is able to create profes-sional videos therersquos nothing standing between you and video content marketing The web is actually full of free or paid tools that can help your team to create videos and animations to perfectly showcase your product and brand
4 Make sure every video delivers a single message
Imagine yoursquove just stumbled upon a video about a brand You click play and get to see the company headquarters a review of its products a note about
8
continued on page 9
Small businesses can use video to boost awareness leads and sales using these 6 ideas
Applications are available nowfor The Town Fair
PHWMBA Members get a $25discount on their space and premium
placement in our famous MEMBER SHOWCASE ROW
Mark your calendars nowSeptember 5th 10-3
thetownfairnet
The Town Fairhas been
rescheduledto
September 5th
(Labor day weekend)
Send us your announcements special information photos
ANYTIMEWe send out our informational emails on a regular basis
Let us spread the word for you
Email anything you want to say toinfophwmbaorg
Let us help you TODAY
its heritage some photos of new locations information on business awards behind-the-scenes footage and a few words from the CEO What exactly did you learn about the company Nothing at all ndash in fact itrsquos a miracle yoursquove made it through the video at all
When creating scripts and realizing your video make sure that every single piece includes a message This way yoursquoll ensure that viewers leave your video with one specific takeaway that will help them to differentiate your brand from competition
5 Mind the length
One research study suggests that 20 of users abandon a video after a mere 10 seconds if they donrsquot find it engaging enough Itrsquos your job to make sure that the first seconds of your video count Additionally the longer is your video the less likely users will continue to watch it
Make sure to keep your videos short and to the point In most cases 60 to 90 seconds will work perfectly ndash just enough to deliver a piece of meaningful content offer a few takeaway messages and leave your audience crav-ing more
6 Include call-to-action messaging
Every single video you make should be there to realise a specific goal You wonrsquot achieve your objectives without making them clear to your audience in the form of a call-to-action ndash give your audience the next step to follow Include a call-to-action message at the very end of your video ndash lsquoGive us a call for a free quotersquo lsquoVisit our website to learn morersquo or lsquoFollow us on FacebookTwitterrsquo
Developing a successful video marketing strategy takes time but by trying out different video formats and test-ing their performance as you go yoursquoll be on your way to making the most of this innovative medium and finding a space for yourself in the lucrative video marketing industry thatrsquos just around the corner
Thanks to Kelly Smith for sharing their advice and opinions in this post Kelly Smith is a digital marketing specialist at Career FAQs You can follow Career FAQs on Twitter
continued from page 7Video Marketing for Small Business
10
Not free- but we will WORK FOR YOU NOW and you can PAY FOR IT LATER Set up a conference to todayYou may need to do business differently in the coming months BE PREPARED Picture This Multimedia Service is offering to help you GET STARTED NOW to be ready for being back to business s with a DEFERRED PAYMENT PLAN
bull Marketing ideas strategies and plansbull Website refreshing updating remodeling
bull Social Media content amp managementbull Updated business site photography (soon but not today)
picturethismultimediacomcastnet bull 410-493-4984 bull Lynn Richardson
WILL WORK FOR YOU
Give Blood Give Life
Johns Hopkins Bayview Blood Drive
June 17-19 2020 730 am to 530 pm
Asthma amp Allergy Center 5501 Hopkins Bayview Circle
Baltimore MD 21224
All participants receive a special gift More important they will take pride in knowing
they saved up to 3 lives
Email reyring1jhmiedu or call 410-550-0289 to schedule
a life-saving donation
for Form 941 are April 30 July 31 October 30 and January 29 2021 All other forms in the 940 series are due on the last day of the first month after the end of the calendar year
Form 940 Employerrsquos Annual Federal Unemploy-ment (FUTA) Tax ReturnForm 943 Employerrsquos Annual Federal Tax Return for Agricultural EmployeesForm 944 Employerrsquos Annual Federal Tax ReturnForm 945 Annual Return of Withheld Federal In-come TaxIncome Tax Returns for Partnerships and S Corpo-rationsIf your business is classified as a partnership or an S corporation you must submit your tax return on March 16 or the 15th day of the third month after the end of your organizationrsquos tax year Partner-ships must complete Form 1065 which is used to generate a Schedule K-1 earnings statement for each partner For S corporations Form 1120S is needed to prepare the Schedule K-1
Partnerships and S corporations may request a six-month extension by submitting Form 7004 along with a deposit equal to the amount of estimated tax owed In this case the annual tax return along with interest and penalties will be due on September 15
Corporate income tax returnsCompanies have until July 15 2020 to submit corporate tax returns for income received in 2019 Businesses may use Form 1120 or request a six-month extension by filing Form 7004 and submit-ting a deposit for the amount of estimated tax owed The first quarterly estimated tax payment of the year is also due on this date
If your business requests an extension you have until October 15 to submit your income tax return using Form 1120 Yoursquoll be required to pay penal-ties interest and any remaining tax at that time
2020 Tax filing deadlines for estimated income taxBusinesses must calculate their quarterly income tax liability using the worksheet Form 1120-W Quarterly estimated income tax payments for cor-porations are due on the following dates
First quarter July 15Second quarter June 15Third quarter September 15Fourth quarter December 15Federal excise tax requirements for small busi-nessesFederal excise taxes apply to a number of different products and industries Filing requirements vary depending on the nature of your business
Form 720 Quarterly Federal Excise Tax Return applies to retailers manufacturers communications companies and travel services Itrsquos filed quarterly with this yearrsquos due dates falling on April 30 July 31 October 30 and January 29 2021Companies that accept wagers must file Form 11-C Occupational Tax and Registration Return for Wagering before accepting any bets and Form 730 for every subsequent monthCompanies that operate heavy highway vehicles must file Form 2290 by the last day of the vehiclersquos first month of service For subsequent filings the excise tax period begins on July 1 and ends on June 30Find more information about when to file taxes 2020This guide includes an overview of the 2020 tax filing deadlines that apply to small businesses Your company may also qualify for tax credits and deductions on essential expenses such as busi-ness insurance which may reduce your tax burden If you have specific questions about when to file taxes in 2020 additional information is available online through the IRS Small Business and Self-Employed Tax Center
Tax Date Extension Reminders Continued from Page 4
Cisco recently predicted that video content will ac-count for 69 of all consumer internet traffic this year
This is the last call for all marketers who until now have avoided video content convinced that itrsquos just a fad or that creating professional videos takes way too much time effort and money Well herersquos a piece of good news video marketing today is within reach of all kinds of companies including small businesses looking for novel ways to spice up their online mar-keting activities How to develop a video marketing strategy that works Here are 6 key tips to help your small business develop a video marketing strategy
This guide explains how develop a video marketing strategy structured around the Smart Insights Reach-Act-Convert-Engage framework
1 Know your sector and audience
Before you start to define and develop your market-ing strategy research your industry to see what kinds of videos are used by other companies in your sector Once you have a grasp on the general use of video in marketing similar products or services itrsquos time to think about your own goals which should power your strategy in general and every single video in detail
What are the possible goals of video marketing Here are a few examples
Helping customers learn new skillsTeaching your audience how to use your productProviding advice and answering popular questions to minimize support requestsBuilding a brand personalityGrowing specific sections of your audience (for in-stance newsletter or blog subscribers)Building company culture and attractive employer brand
2 Try different video types
Itrsquos important that you incorporate different video types into your strategy ndash it will help you learn which perform best for your business and truly engage your audience
There are three main types of videos used for marketing
Storytelling videos ndash videos that present the com-pany its story as well as employee profiles This kind of video help customers to learn the story behind a brand and get an idea about the people operating the business in some interesting behind-the-scenes vid-eos Such videos are excellent for building a strong brand and fostering a sense of consumer trust and loyalty
Animated Explainer videos ndash these videos are focused on solving a problem explaining it in a lsquohow torsquo format This kind of videos is great for SEO ndash over the years their search rankings have literally explod-ed as consumers learned to trust this format
Video testimonials ndash sharing videos which show third party testimonials are great for building your credibility and showing potential clients that your product or service brings tangible benefitsVideo for small business
3 Collaborate with a professional studio
Small businesses have limited marketing budgets but investing in a collaboration with a professional studio that will help you realize videos is worth the price Great video marketing will bring you new leads and sales so if you find people who know their way around video making and can help you with planning and integration go for it
If someone in your team is able to create profes-sional videos therersquos nothing standing between you and video content marketing The web is actually full of free or paid tools that can help your team to create videos and animations to perfectly showcase your product and brand
4 Make sure every video delivers a single message
Imagine yoursquove just stumbled upon a video about a brand You click play and get to see the company headquarters a review of its products a note about
8
continued on page 9
Small businesses can use video to boost awareness leads and sales using these 6 ideas
Applications are available nowfor The Town Fair
PHWMBA Members get a $25discount on their space and premium
placement in our famous MEMBER SHOWCASE ROW
Mark your calendars nowSeptember 5th 10-3
thetownfairnet
The Town Fairhas been
rescheduledto
September 5th
(Labor day weekend)
Send us your announcements special information photos
ANYTIMEWe send out our informational emails on a regular basis
Let us spread the word for you
Email anything you want to say toinfophwmbaorg
Let us help you TODAY
its heritage some photos of new locations information on business awards behind-the-scenes footage and a few words from the CEO What exactly did you learn about the company Nothing at all ndash in fact itrsquos a miracle yoursquove made it through the video at all
When creating scripts and realizing your video make sure that every single piece includes a message This way yoursquoll ensure that viewers leave your video with one specific takeaway that will help them to differentiate your brand from competition
5 Mind the length
One research study suggests that 20 of users abandon a video after a mere 10 seconds if they donrsquot find it engaging enough Itrsquos your job to make sure that the first seconds of your video count Additionally the longer is your video the less likely users will continue to watch it
Make sure to keep your videos short and to the point In most cases 60 to 90 seconds will work perfectly ndash just enough to deliver a piece of meaningful content offer a few takeaway messages and leave your audience crav-ing more
6 Include call-to-action messaging
Every single video you make should be there to realise a specific goal You wonrsquot achieve your objectives without making them clear to your audience in the form of a call-to-action ndash give your audience the next step to follow Include a call-to-action message at the very end of your video ndash lsquoGive us a call for a free quotersquo lsquoVisit our website to learn morersquo or lsquoFollow us on FacebookTwitterrsquo
Developing a successful video marketing strategy takes time but by trying out different video formats and test-ing their performance as you go yoursquoll be on your way to making the most of this innovative medium and finding a space for yourself in the lucrative video marketing industry thatrsquos just around the corner
Thanks to Kelly Smith for sharing their advice and opinions in this post Kelly Smith is a digital marketing specialist at Career FAQs You can follow Career FAQs on Twitter
continued from page 7Video Marketing for Small Business
10
Not free- but we will WORK FOR YOU NOW and you can PAY FOR IT LATER Set up a conference to todayYou may need to do business differently in the coming months BE PREPARED Picture This Multimedia Service is offering to help you GET STARTED NOW to be ready for being back to business s with a DEFERRED PAYMENT PLAN
bull Marketing ideas strategies and plansbull Website refreshing updating remodeling
bull Social Media content amp managementbull Updated business site photography (soon but not today)
picturethismultimediacomcastnet bull 410-493-4984 bull Lynn Richardson
WILL WORK FOR YOU
Give Blood Give Life
Johns Hopkins Bayview Blood Drive
June 17-19 2020 730 am to 530 pm
Asthma amp Allergy Center 5501 Hopkins Bayview Circle
Baltimore MD 21224
All participants receive a special gift More important they will take pride in knowing
they saved up to 3 lives
Email reyring1jhmiedu or call 410-550-0289 to schedule
a life-saving donation
for Form 941 are April 30 July 31 October 30 and January 29 2021 All other forms in the 940 series are due on the last day of the first month after the end of the calendar year
Form 940 Employerrsquos Annual Federal Unemploy-ment (FUTA) Tax ReturnForm 943 Employerrsquos Annual Federal Tax Return for Agricultural EmployeesForm 944 Employerrsquos Annual Federal Tax ReturnForm 945 Annual Return of Withheld Federal In-come TaxIncome Tax Returns for Partnerships and S Corpo-rationsIf your business is classified as a partnership or an S corporation you must submit your tax return on March 16 or the 15th day of the third month after the end of your organizationrsquos tax year Partner-ships must complete Form 1065 which is used to generate a Schedule K-1 earnings statement for each partner For S corporations Form 1120S is needed to prepare the Schedule K-1
Partnerships and S corporations may request a six-month extension by submitting Form 7004 along with a deposit equal to the amount of estimated tax owed In this case the annual tax return along with interest and penalties will be due on September 15
Corporate income tax returnsCompanies have until July 15 2020 to submit corporate tax returns for income received in 2019 Businesses may use Form 1120 or request a six-month extension by filing Form 7004 and submit-ting a deposit for the amount of estimated tax owed The first quarterly estimated tax payment of the year is also due on this date
If your business requests an extension you have until October 15 to submit your income tax return using Form 1120 Yoursquoll be required to pay penal-ties interest and any remaining tax at that time
2020 Tax filing deadlines for estimated income taxBusinesses must calculate their quarterly income tax liability using the worksheet Form 1120-W Quarterly estimated income tax payments for cor-porations are due on the following dates
First quarter July 15Second quarter June 15Third quarter September 15Fourth quarter December 15Federal excise tax requirements for small busi-nessesFederal excise taxes apply to a number of different products and industries Filing requirements vary depending on the nature of your business
Form 720 Quarterly Federal Excise Tax Return applies to retailers manufacturers communications companies and travel services Itrsquos filed quarterly with this yearrsquos due dates falling on April 30 July 31 October 30 and January 29 2021Companies that accept wagers must file Form 11-C Occupational Tax and Registration Return for Wagering before accepting any bets and Form 730 for every subsequent monthCompanies that operate heavy highway vehicles must file Form 2290 by the last day of the vehiclersquos first month of service For subsequent filings the excise tax period begins on July 1 and ends on June 30Find more information about when to file taxes 2020This guide includes an overview of the 2020 tax filing deadlines that apply to small businesses Your company may also qualify for tax credits and deductions on essential expenses such as busi-ness insurance which may reduce your tax burden If you have specific questions about when to file taxes in 2020 additional information is available online through the IRS Small Business and Self-Employed Tax Center
Tax Date Extension Reminders Continued from Page 4
Applications are available nowfor The Town Fair
PHWMBA Members get a $25discount on their space and premium
placement in our famous MEMBER SHOWCASE ROW
Mark your calendars nowSeptember 5th 10-3
thetownfairnet
The Town Fairhas been
rescheduledto
September 5th
(Labor day weekend)
Send us your announcements special information photos
ANYTIMEWe send out our informational emails on a regular basis
Let us spread the word for you
Email anything you want to say toinfophwmbaorg
Let us help you TODAY
its heritage some photos of new locations information on business awards behind-the-scenes footage and a few words from the CEO What exactly did you learn about the company Nothing at all ndash in fact itrsquos a miracle yoursquove made it through the video at all
When creating scripts and realizing your video make sure that every single piece includes a message This way yoursquoll ensure that viewers leave your video with one specific takeaway that will help them to differentiate your brand from competition
5 Mind the length
One research study suggests that 20 of users abandon a video after a mere 10 seconds if they donrsquot find it engaging enough Itrsquos your job to make sure that the first seconds of your video count Additionally the longer is your video the less likely users will continue to watch it
Make sure to keep your videos short and to the point In most cases 60 to 90 seconds will work perfectly ndash just enough to deliver a piece of meaningful content offer a few takeaway messages and leave your audience crav-ing more
6 Include call-to-action messaging
Every single video you make should be there to realise a specific goal You wonrsquot achieve your objectives without making them clear to your audience in the form of a call-to-action ndash give your audience the next step to follow Include a call-to-action message at the very end of your video ndash lsquoGive us a call for a free quotersquo lsquoVisit our website to learn morersquo or lsquoFollow us on FacebookTwitterrsquo
Developing a successful video marketing strategy takes time but by trying out different video formats and test-ing their performance as you go yoursquoll be on your way to making the most of this innovative medium and finding a space for yourself in the lucrative video marketing industry thatrsquos just around the corner
Thanks to Kelly Smith for sharing their advice and opinions in this post Kelly Smith is a digital marketing specialist at Career FAQs You can follow Career FAQs on Twitter
continued from page 7Video Marketing for Small Business
10
Not free- but we will WORK FOR YOU NOW and you can PAY FOR IT LATER Set up a conference to todayYou may need to do business differently in the coming months BE PREPARED Picture This Multimedia Service is offering to help you GET STARTED NOW to be ready for being back to business s with a DEFERRED PAYMENT PLAN
bull Marketing ideas strategies and plansbull Website refreshing updating remodeling
bull Social Media content amp managementbull Updated business site photography (soon but not today)
picturethismultimediacomcastnet bull 410-493-4984 bull Lynn Richardson
WILL WORK FOR YOU
Give Blood Give Life
Johns Hopkins Bayview Blood Drive
June 17-19 2020 730 am to 530 pm
Asthma amp Allergy Center 5501 Hopkins Bayview Circle
Baltimore MD 21224
All participants receive a special gift More important they will take pride in knowing
they saved up to 3 lives
Email reyring1jhmiedu or call 410-550-0289 to schedule
a life-saving donation
for Form 941 are April 30 July 31 October 30 and January 29 2021 All other forms in the 940 series are due on the last day of the first month after the end of the calendar year
Form 940 Employerrsquos Annual Federal Unemploy-ment (FUTA) Tax ReturnForm 943 Employerrsquos Annual Federal Tax Return for Agricultural EmployeesForm 944 Employerrsquos Annual Federal Tax ReturnForm 945 Annual Return of Withheld Federal In-come TaxIncome Tax Returns for Partnerships and S Corpo-rationsIf your business is classified as a partnership or an S corporation you must submit your tax return on March 16 or the 15th day of the third month after the end of your organizationrsquos tax year Partner-ships must complete Form 1065 which is used to generate a Schedule K-1 earnings statement for each partner For S corporations Form 1120S is needed to prepare the Schedule K-1
Partnerships and S corporations may request a six-month extension by submitting Form 7004 along with a deposit equal to the amount of estimated tax owed In this case the annual tax return along with interest and penalties will be due on September 15
Corporate income tax returnsCompanies have until July 15 2020 to submit corporate tax returns for income received in 2019 Businesses may use Form 1120 or request a six-month extension by filing Form 7004 and submit-ting a deposit for the amount of estimated tax owed The first quarterly estimated tax payment of the year is also due on this date
If your business requests an extension you have until October 15 to submit your income tax return using Form 1120 Yoursquoll be required to pay penal-ties interest and any remaining tax at that time
2020 Tax filing deadlines for estimated income taxBusinesses must calculate their quarterly income tax liability using the worksheet Form 1120-W Quarterly estimated income tax payments for cor-porations are due on the following dates
First quarter July 15Second quarter June 15Third quarter September 15Fourth quarter December 15Federal excise tax requirements for small busi-nessesFederal excise taxes apply to a number of different products and industries Filing requirements vary depending on the nature of your business
Form 720 Quarterly Federal Excise Tax Return applies to retailers manufacturers communications companies and travel services Itrsquos filed quarterly with this yearrsquos due dates falling on April 30 July 31 October 30 and January 29 2021Companies that accept wagers must file Form 11-C Occupational Tax and Registration Return for Wagering before accepting any bets and Form 730 for every subsequent monthCompanies that operate heavy highway vehicles must file Form 2290 by the last day of the vehiclersquos first month of service For subsequent filings the excise tax period begins on July 1 and ends on June 30Find more information about when to file taxes 2020This guide includes an overview of the 2020 tax filing deadlines that apply to small businesses Your company may also qualify for tax credits and deductions on essential expenses such as busi-ness insurance which may reduce your tax burden If you have specific questions about when to file taxes in 2020 additional information is available online through the IRS Small Business and Self-Employed Tax Center
Tax Date Extension Reminders Continued from Page 4
its heritage some photos of new locations information on business awards behind-the-scenes footage and a few words from the CEO What exactly did you learn about the company Nothing at all ndash in fact itrsquos a miracle yoursquove made it through the video at all
When creating scripts and realizing your video make sure that every single piece includes a message This way yoursquoll ensure that viewers leave your video with one specific takeaway that will help them to differentiate your brand from competition
5 Mind the length
One research study suggests that 20 of users abandon a video after a mere 10 seconds if they donrsquot find it engaging enough Itrsquos your job to make sure that the first seconds of your video count Additionally the longer is your video the less likely users will continue to watch it
Make sure to keep your videos short and to the point In most cases 60 to 90 seconds will work perfectly ndash just enough to deliver a piece of meaningful content offer a few takeaway messages and leave your audience crav-ing more
6 Include call-to-action messaging
Every single video you make should be there to realise a specific goal You wonrsquot achieve your objectives without making them clear to your audience in the form of a call-to-action ndash give your audience the next step to follow Include a call-to-action message at the very end of your video ndash lsquoGive us a call for a free quotersquo lsquoVisit our website to learn morersquo or lsquoFollow us on FacebookTwitterrsquo
Developing a successful video marketing strategy takes time but by trying out different video formats and test-ing their performance as you go yoursquoll be on your way to making the most of this innovative medium and finding a space for yourself in the lucrative video marketing industry thatrsquos just around the corner
Thanks to Kelly Smith for sharing their advice and opinions in this post Kelly Smith is a digital marketing specialist at Career FAQs You can follow Career FAQs on Twitter
continued from page 7Video Marketing for Small Business
10
Not free- but we will WORK FOR YOU NOW and you can PAY FOR IT LATER Set up a conference to todayYou may need to do business differently in the coming months BE PREPARED Picture This Multimedia Service is offering to help you GET STARTED NOW to be ready for being back to business s with a DEFERRED PAYMENT PLAN
bull Marketing ideas strategies and plansbull Website refreshing updating remodeling
bull Social Media content amp managementbull Updated business site photography (soon but not today)
picturethismultimediacomcastnet bull 410-493-4984 bull Lynn Richardson
WILL WORK FOR YOU
Give Blood Give Life
Johns Hopkins Bayview Blood Drive
June 17-19 2020 730 am to 530 pm
Asthma amp Allergy Center 5501 Hopkins Bayview Circle
Baltimore MD 21224
All participants receive a special gift More important they will take pride in knowing
they saved up to 3 lives
Email reyring1jhmiedu or call 410-550-0289 to schedule
a life-saving donation
for Form 941 are April 30 July 31 October 30 and January 29 2021 All other forms in the 940 series are due on the last day of the first month after the end of the calendar year
Form 940 Employerrsquos Annual Federal Unemploy-ment (FUTA) Tax ReturnForm 943 Employerrsquos Annual Federal Tax Return for Agricultural EmployeesForm 944 Employerrsquos Annual Federal Tax ReturnForm 945 Annual Return of Withheld Federal In-come TaxIncome Tax Returns for Partnerships and S Corpo-rationsIf your business is classified as a partnership or an S corporation you must submit your tax return on March 16 or the 15th day of the third month after the end of your organizationrsquos tax year Partner-ships must complete Form 1065 which is used to generate a Schedule K-1 earnings statement for each partner For S corporations Form 1120S is needed to prepare the Schedule K-1
Partnerships and S corporations may request a six-month extension by submitting Form 7004 along with a deposit equal to the amount of estimated tax owed In this case the annual tax return along with interest and penalties will be due on September 15
Corporate income tax returnsCompanies have until July 15 2020 to submit corporate tax returns for income received in 2019 Businesses may use Form 1120 or request a six-month extension by filing Form 7004 and submit-ting a deposit for the amount of estimated tax owed The first quarterly estimated tax payment of the year is also due on this date
If your business requests an extension you have until October 15 to submit your income tax return using Form 1120 Yoursquoll be required to pay penal-ties interest and any remaining tax at that time
2020 Tax filing deadlines for estimated income taxBusinesses must calculate their quarterly income tax liability using the worksheet Form 1120-W Quarterly estimated income tax payments for cor-porations are due on the following dates
First quarter July 15Second quarter June 15Third quarter September 15Fourth quarter December 15Federal excise tax requirements for small busi-nessesFederal excise taxes apply to a number of different products and industries Filing requirements vary depending on the nature of your business
Form 720 Quarterly Federal Excise Tax Return applies to retailers manufacturers communications companies and travel services Itrsquos filed quarterly with this yearrsquos due dates falling on April 30 July 31 October 30 and January 29 2021Companies that accept wagers must file Form 11-C Occupational Tax and Registration Return for Wagering before accepting any bets and Form 730 for every subsequent monthCompanies that operate heavy highway vehicles must file Form 2290 by the last day of the vehiclersquos first month of service For subsequent filings the excise tax period begins on July 1 and ends on June 30Find more information about when to file taxes 2020This guide includes an overview of the 2020 tax filing deadlines that apply to small businesses Your company may also qualify for tax credits and deductions on essential expenses such as busi-ness insurance which may reduce your tax burden If you have specific questions about when to file taxes in 2020 additional information is available online through the IRS Small Business and Self-Employed Tax Center
Tax Date Extension Reminders Continued from Page 4
Give Blood Give Life
Johns Hopkins Bayview Blood Drive
June 17-19 2020 730 am to 530 pm
Asthma amp Allergy Center 5501 Hopkins Bayview Circle
Baltimore MD 21224
All participants receive a special gift More important they will take pride in knowing
they saved up to 3 lives
Email reyring1jhmiedu or call 410-550-0289 to schedule
a life-saving donation
for Form 941 are April 30 July 31 October 30 and January 29 2021 All other forms in the 940 series are due on the last day of the first month after the end of the calendar year
Form 940 Employerrsquos Annual Federal Unemploy-ment (FUTA) Tax ReturnForm 943 Employerrsquos Annual Federal Tax Return for Agricultural EmployeesForm 944 Employerrsquos Annual Federal Tax ReturnForm 945 Annual Return of Withheld Federal In-come TaxIncome Tax Returns for Partnerships and S Corpo-rationsIf your business is classified as a partnership or an S corporation you must submit your tax return on March 16 or the 15th day of the third month after the end of your organizationrsquos tax year Partner-ships must complete Form 1065 which is used to generate a Schedule K-1 earnings statement for each partner For S corporations Form 1120S is needed to prepare the Schedule K-1
Partnerships and S corporations may request a six-month extension by submitting Form 7004 along with a deposit equal to the amount of estimated tax owed In this case the annual tax return along with interest and penalties will be due on September 15
Corporate income tax returnsCompanies have until July 15 2020 to submit corporate tax returns for income received in 2019 Businesses may use Form 1120 or request a six-month extension by filing Form 7004 and submit-ting a deposit for the amount of estimated tax owed The first quarterly estimated tax payment of the year is also due on this date
If your business requests an extension you have until October 15 to submit your income tax return using Form 1120 Yoursquoll be required to pay penal-ties interest and any remaining tax at that time
2020 Tax filing deadlines for estimated income taxBusinesses must calculate their quarterly income tax liability using the worksheet Form 1120-W Quarterly estimated income tax payments for cor-porations are due on the following dates
First quarter July 15Second quarter June 15Third quarter September 15Fourth quarter December 15Federal excise tax requirements for small busi-nessesFederal excise taxes apply to a number of different products and industries Filing requirements vary depending on the nature of your business
Form 720 Quarterly Federal Excise Tax Return applies to retailers manufacturers communications companies and travel services Itrsquos filed quarterly with this yearrsquos due dates falling on April 30 July 31 October 30 and January 29 2021Companies that accept wagers must file Form 11-C Occupational Tax and Registration Return for Wagering before accepting any bets and Form 730 for every subsequent monthCompanies that operate heavy highway vehicles must file Form 2290 by the last day of the vehiclersquos first month of service For subsequent filings the excise tax period begins on July 1 and ends on June 30Find more information about when to file taxes 2020This guide includes an overview of the 2020 tax filing deadlines that apply to small businesses Your company may also qualify for tax credits and deductions on essential expenses such as busi-ness insurance which may reduce your tax burden If you have specific questions about when to file taxes in 2020 additional information is available online through the IRS Small Business and Self-Employed Tax Center
Tax Date Extension Reminders Continued from Page 4
for Form 941 are April 30 July 31 October 30 and January 29 2021 All other forms in the 940 series are due on the last day of the first month after the end of the calendar year
Form 940 Employerrsquos Annual Federal Unemploy-ment (FUTA) Tax ReturnForm 943 Employerrsquos Annual Federal Tax Return for Agricultural EmployeesForm 944 Employerrsquos Annual Federal Tax ReturnForm 945 Annual Return of Withheld Federal In-come TaxIncome Tax Returns for Partnerships and S Corpo-rationsIf your business is classified as a partnership or an S corporation you must submit your tax return on March 16 or the 15th day of the third month after the end of your organizationrsquos tax year Partner-ships must complete Form 1065 which is used to generate a Schedule K-1 earnings statement for each partner For S corporations Form 1120S is needed to prepare the Schedule K-1
Partnerships and S corporations may request a six-month extension by submitting Form 7004 along with a deposit equal to the amount of estimated tax owed In this case the annual tax return along with interest and penalties will be due on September 15
Corporate income tax returnsCompanies have until July 15 2020 to submit corporate tax returns for income received in 2019 Businesses may use Form 1120 or request a six-month extension by filing Form 7004 and submit-ting a deposit for the amount of estimated tax owed The first quarterly estimated tax payment of the year is also due on this date
If your business requests an extension you have until October 15 to submit your income tax return using Form 1120 Yoursquoll be required to pay penal-ties interest and any remaining tax at that time
2020 Tax filing deadlines for estimated income taxBusinesses must calculate their quarterly income tax liability using the worksheet Form 1120-W Quarterly estimated income tax payments for cor-porations are due on the following dates
First quarter July 15Second quarter June 15Third quarter September 15Fourth quarter December 15Federal excise tax requirements for small busi-nessesFederal excise taxes apply to a number of different products and industries Filing requirements vary depending on the nature of your business
Form 720 Quarterly Federal Excise Tax Return applies to retailers manufacturers communications companies and travel services Itrsquos filed quarterly with this yearrsquos due dates falling on April 30 July 31 October 30 and January 29 2021Companies that accept wagers must file Form 11-C Occupational Tax and Registration Return for Wagering before accepting any bets and Form 730 for every subsequent monthCompanies that operate heavy highway vehicles must file Form 2290 by the last day of the vehiclersquos first month of service For subsequent filings the excise tax period begins on July 1 and ends on June 30Find more information about when to file taxes 2020This guide includes an overview of the 2020 tax filing deadlines that apply to small businesses Your company may also qualify for tax credits and deductions on essential expenses such as busi-ness insurance which may reduce your tax burden If you have specific questions about when to file taxes in 2020 additional information is available online through the IRS Small Business and Self-Employed Tax Center
Tax Date Extension Reminders Continued from Page 4
