The Grapevine Network LLC

  HUBZone program The HUBZone program fuels small business growth in historically underutilized business zones with a goal of awarding at least 3% of federal contract dollars to HUBZone-certified companies each year. Content Program benefits HUBZone program qualifications HUBZone map Apply to get certified as a HUBZone small business Maintain HUBZone certification Program benefits The government limits competition for certain contracts to businesses in historically underutilized business zones. It also gives preferential consideration to those businesses in full and open competition. Joining the HUBZone program makes your business eligible to compete for the program’s  set-aside contracts . HUBZone-certified businesses also get a 10% price evaluation preference in full and open contract competitions. HUBZone-certified businesses can still compete for contract awards under other socio-economic programs they qualify for. HUBZone program qualifications To qualify for the HUBZone ...

The Women-Owned Small Business Federal Contract Program (WOSB Program) is to help provide a level playing field for women business owners. The federal government limits competition for certain contracts to businesses that participate in the WOSB Program. These contracts are specific industries where WOSBs are underrepresented. Some contracts are restricted further to economically disadvantaged women-owned small businesses (EDWOSBs). SBA maintains  a list of those eligible industries and their NAICS codes. Getting certified as a WOSB Federal Contract Program participant makes a business eligible to compete for federal contracts set aside for the program. To help provide a level playing field for women business owners, the government limits competition for certain contracts to businesses that participate in the Women-Owned Small Business (WOSB) Federal Contract program. These contracts are for goods and services in specific industries (identified via NAICS code) where WOSBs are unde...

IRS.gov Lesson 1- Federal taxes and your new business Lesson 2 - Schedule C and other small business taxes Lesson 3 - Filing and paying taxes electronically Lesson 4 - Business use of your home Lesson 5 - Federal taxes when hiring employees or independent contractors Lesson 6 - Managing payroll to withhold the correct amount of taxes Lesson 7- Tax deposits and filing a return to report payroll taxes

  Business Taxes The form of business you operate determines what taxes you must pay and how you pay them. The following are the five general types of business taxes. Income Tax Estimated Taxes Self-Employment Tax Employment Taxes Excise Tax Income Tax All businesses except partnerships must file an annual income tax return. Partnerships file an information return. The form you use depends on how your business is organized. Refer to  Business Structures  to find out which returns you must file based on the business entity established. The federal income tax is a pay-as-you-go tax. You must pay the tax as you earn or receive income during the year. An employee usually has income tax withheld from his or her pay. If you do not pay your tax through withholding, or do not pay enough tax that way, you might have to pay estimated tax. If you are not required to make estimated tax payments, you may pay any tax due when you file your return. For addi...

  Understanding S Corporations Choosing the right business structure for your enterprise is a crucial decision. It has long lasting ramifications, as it sets the path for the future in terms of operations, management, legal, and tax issues. Proper research should be done before you take your pick. There are several organizational forms that businesses can choose from, including  sole proprietorship ,  partnership ,  limited liability company  (LLC),  corporation , or an  S corporation . Here we discuss an S Corporation, its structure, advantages, disadvantages, and more. KEY TAKEAWAYS An S corporation, also known as an S subchapter, refers to a type of legal business entity. Requirements give a corporation with 100 shareholders or less the benefit of incorporation while being taxed as a partnership.  Corporate taxes filed under Subchapter S may pass business income, losses, deductions, and credits to shareholders. Shareholders report income a...