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 [...]
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 [...]
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 [...]
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. [...]
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 [...]
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 [...]
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 [...]