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Your Year End Small Biz Survival Kit: Grants, Taxes & Big Wins!
TL;DR: Do you have a brilliant idea? Small Business Saturday and your end of year task list!
Laura Texidor
November 30, 2024
If you’re reading this, you made it through Thanksgiving and Black Friday. For us small business owners, today is a day that truly matters: Small Business Saturday. This isn’t just a shopping day; it’s a celebration of the passion, grit, and heart we pour into our businesses every single day.
This week, we also hosted our first Wine, Women, and Wins happy hour for women solopreneurs in NYC, bringing together an incredible group of founders. Seeing these women connect, share stories, and uplift one another was a powerful reminder of why we do what we do—building community, supporting dreams, and creating spaces for small businesses to thrive. Join us on the next one!
🧠 Beauty and Brains Grants
$1M For Brilliant Ideas
Do you have a brilliant business idea? Apply for Peerless Pitch, the winner receives a $1M investment from AlleyCorp. 📅 Apply here by December 6th.
👗 $10,000 for Fashion Entrepreneurs
Fashion business owner, this one’s for you! The Amber Grant is offering $10,000 to help you grow your brand. 📅 Apply here by December 31st.
💡 Looking for grant & funding opportunities for your business? Just ask Vestie!💡 Want more grant opportunities tailored to your business? Chat with Vestie!
🪐 Resources for you:
Max Your Tax: Our essential deduction checklist for small businesses.
Deadline for BOIR is Jan 1, 2025: We’ve got a straightforward guide to help you file in under 5 minutes!
Free Money Alert 🚨: Just ask Vestie! She’ll point you to grants tailored to your business needs. “For example: Show me grants for photographers.
🏦 Finance Fix
December 31 is around the corner, and it’s crunch time for important financial tasks. Here’s your small business checklist to finish 2024 strong (and save $$$$ on taxes!):
1️⃣ Beneficial Ownership Information (BOI) Reporting: If you own an LLC or a business with less than $5M in revenue, file this form with FinCEN by the end of the year.
2️⃣ Maximize Deductions: Audit your expenses, think of equipment, marketing, or office supplies and make last minute purchases to lower taxable income.
3️⃣ Roth IRA or Solo 401(k): If you’re self-employed, setting up a Roth IRA or Solo 401(k) by December 31 lets you stash away up to $69K for retirement and get a significant tax deduction.
4️⃣ S-Corp Payroll Adjustments: If you’re an S-Corp owner, have your CPA calculate the optimal W-2 salary to maximize your Qualified Business Income (QBI) deduction. Process your payroll before year-end!
5️⃣ Review Invoices & Receivables: Chase down any unpaid invoices and clear out receivables to start January with a clean slate.
Do you have questions? Just ask Vestie, your financial bestie! 🌟
In Abundance,
Joyce and Laura
Disclaimer: The content provided in this newsletter is for informational purposes only and is not intended as financial, legal, or professional advice. Investrio does not guarantee the accuracy, completeness, or reliability of any information presented. Always seek the advice of a qualified professional regarding your specific financial or business needs. Investrio is not responsible for any actions taken based on the information provided in this newsletter. Any third-party links are for convenience and do not imply endorsement.
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