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New Rules For Repair Costs

Convenience store operators could be in line for tax deductions for building repairs and property depreciation. By Mark Battersby, Contributing Editor Since the inception of the Internal Revenue Code, the Internal Revenue Service (IRS) and convenience store businesses have been at odds over whether expenditures made are currently deductible or whether they must be capitalized

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Funding Your Business Expansion

The old adage “it takes money to make money” may prove especially true when you’re looking to expand your business. Understanding what sources you should consider for financing will give you a big heads up on your competition. By Mark E. Battersby, Contributing Editor. How many convenience store retailers have failed to grow or expand

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Succession Planning for Family Business

For most family and closely held businesses, planning for succession is the toughest and most critical challenge they face. Yet succession planning can also be a great opportunity to maximize opportunities and create a multi-generational institution. By Mark E. Battersby, Contributing Editor. Everyone who has invested a great deal of time, money and energy into

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Retail Improvements with Help From Uncle Sam

The renewed American Taxpayer Act offers some key tax breaks to convenience store retailers through 2013. By Mark Battersby, Contributing Editor.The so-called “Fiscal Cliff” tax bill enacted last December, the American Taxpayer Relief Act, renewed important tax breaks used by some c-stores to reduce the out-of-pocket expenditures required to keep their business premises fresh and

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Basic, Necessary, Affordable Business Insurance

Whether it’s a fire, a natural disaster or protecting yourself from slip-and-fall lawsuits, convenience store operators must have the proper coverage to protect their investments. By Mark E. Battersby, Contributing Editor. Can any convenience store chain, franchisee or independent gasoline marketer withstand the financial hit of a fire that results in a two-month shutdown of

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Crystal Ball Tax Planning

Thanks to the economy and skyrocketing costs, convenience stores are paying more in taxes while, at the same time, costs for everyone are going up. Knowing what tax breaks are available can boost your bottom line. By Mark Battersby, Contributing Editor. Will this be the last year of the Bush-era tax cuts? A number of

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Financing Acquisitions and Upgrades

Changes in the IRS tax code will impact how operators can expense capital improvements. By Mark Battersby, Contributing Editor. In an effort to resolve the controversy over whether certain expenditures made by a convenience store chain, franchise or independent fuel marketer are currently deductible as repair expenses, or whether they must be capitalized and deducted

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Advertising, Marketing, Entertaining and Deducting

Promotional budgets are typically one of the first costs businesses look to slash when times get tough. But understanding available tax deductions can help offset advertising expenses. By Mark E. Battersby, Contributing Editor. Without effective marketing and advertising, customers may recognize the existence of your convenience store business, but they won’t know anything about it.

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Battling City Hall

While dealing with red tape is a common occurrence when dealing with local municipalities, there are tax benefits for businessowners to make the process less costly.  By Mark E. Battersby, Contributing Editor. Thanks to the economy and skyrocketing costs, convenience stores and other businesses are making less money and paying more in taxes while, at

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Tax Savings After the Deadline

With operating costs soaring in a sluggish economy, convenience store owners have a variety of tax benefits available to them from the IRS.  By Mark E. Battersby, Contributing Editor. Earlier this year, the Internal Revenue Service advised taxpayers to cool their heels and wait until mid- to late-February 2011 before filing their returns to allow

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Dealing with Workers’ Compensation Costs

Insurance premiums are rising at an alarming rate, but retailers can control this growing expense by understanding all of their options. By Mark E. Battersby, Contributing Editor. Just as with death and taxes, it appears certain that workers’ compensation claims—and the costs associated with them—will inevitably rise. Workers’ compensation, a program that forces employers to

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