Wednesday, February 12, 2014

News from the Maine Small Business Development Center

Maine Small Business Development CentersFebruary 2014
In This Issue
Retirement Planning
Tax Tips
E-Week Maine
Veterans in Business
Veteran Comic 

Service member or veteran business owner? Have a business question? 

Maine SBDC 
Upcoming Workshops
February 12  - Bangor

February 12 - Bangor

February 12 - Bangor

February 13 - Machias

February 26 - Fairfield

February 28 - Portland
February 2014 - Portland
Wednesdays - 4 -6 pm

Six Workshops!
Attend one, or attend them all!

Strategic Positioning & Risk Assessment - 3/19

Knowing Your Target Market & Competition - 2/12 & 3/26

Assessing Your Industry - Trends/Social Responsibility and Sustainability - 2/19 & 4/2

Solid Financials - Cash Flow Forecasting - 2/26 & 4/9
Solid Financials - Balance Sheet Management - 3/5 &  4/16

Growth Strategies & Setting Goals - 3/12 & 4/23

Cost: Any 1 session is $20, OR prepay for all 6 sessions for $100

For more information or to register, contact Chris Long at 780-4949
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Retirement Planning for Business Owners
3 Steps to Making Retirement Savings a Reality
Many business owners - particularly smaller businesses, start-ups and entrepreneurs - face difficult decisions when it comes to providing their own benefits. As the business owner, you decide how to spend or invest your income. Often, the decision is how to prioritize. It's not uncommon for a business owner to put off his/her personal retirement saving strategy in order to prioritize the cost of health insurance, for example. If your business itself is not producing equity, creating a separate capital base for retirement is extremely important. The good news is that as a business owner, you can take advantage of retirement saving vehicles such as a SEP-IRA and other income tax planning strategies. Read the full article here.

Small Business Taxes
Helpful Resources to get you through Tax Season
It's tax time and our business counselors often get asked about choosing good tax preparers. Making sure to wisely choose a qualified professional is important. To help you, theIRS has published a list of tips to help you find the right person.
Additionally, the below articles highlight important 2014 tax information and changes:
 The IRS website is full of helpful information. They've also made some virtual workshops
Free tax preparation services are available for those who make $52,000 or less. Call 2-1-1 to find a location near you (or visit their site). In addition, the IRS offers free software for those who make $58,000 or less through their FreeFile program. 

Celebration of Entrepreneurship
In Maine - February 8-22 
 National Entrepreneurship Week is organized in Maine by a coalition of business and education partners in support of the creative and managerial efforts of entrepreneurs and small business. Workshops and business competitions are among the events designed to inspire young entrepreneurs and enhance the skills of older ones. 
 For more information, visit

Youth Entrepreneurship Program
Registration open!
Build-A-Biz, a youth entrepreneurship education program, is now accepting registrations for their ages 5-9 and 10-18 programs! 

The programs gives children education, attention and real-world experience into business ownership. They learn to set goals through experiential activities. 

For more information or to get your child involved, 

Maine Small Business Development Centers | Website | 207-780-4420