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What do taxation, social media and self-development have in common? All three play a big part in this small business news roundup as we look at top small business stories from around the Web.

Tax Repeals & Realities

A controversial 1099 expansion will be repealed. But lawmakers are now complaining they will have a hard time paying for it. The extremely unpopular expansion of reporting requirements placed on businesses that spend money with multiple vendors would have been costly and time consuming, especially for small business. But extra revenue was supposed to cover some of the costs for an equally unpopular new health care law. The Hill

Things you’d better remember at tax time. As tax time rolls around, there are a few things you will definitely want to keep in mind to avoid costly mistakes for your business. If you’re a business owner, Miranda Marquit has some important tips you will want to keep handy. An important part of running your business is making sure that tax and other financial issues are handled correctly. This post lists at least five things you must not forget. AllBusiness

Reforms & Deductions

A tax overhaul for small businesses? How would a proposed overhaul of the U.S. tax structure affect small business and, as the often-touted engine of economic recovery, shouldn’t small business concerns be in the forefront when considering any comprehensive changes to the tax law? At least two lawmakers think the answer is yes and plan to hold bi-partisan hearings to discuss how small business concerns can be addressed. WSJ

10 small business tax deductions you won’t want to miss. Even though these deductions are often forgotten about, any tax deduction can represent an important tax savings that can help your small business’s bottom line. Certainly small business owners must be responsible citizens paying the taxes they owe, but make sure your business is also taking advantage of every break afforded you as well. Huffington Post

Facebook & Twitter

How do you “like” the changes on Facebook? That’s right, recently the social media giant announced plans to tweak some of its most popular (and perhaps overused?) functions. Many small businesses now use Facebook for marketing as well, which gives the recently publicized change added significance to those engaged in FB online marketing. How will the change affect you? E-Marketing Associates

Who are all those phony baloney tweeters out there? Rick LaPoint sorts out fact from fiction where fake twitter followers are concerned. Who are they? How do I know whether they are real? Should I follow them back and WHY are they so popular? If you’re like many business and marketing folks who have taken to the twitterverse in pursuit of real people to do business with, you’ll want to read this post about some of the phantoms that haunt the world of microblogging. Internet Marketing

LinkedIn & Blogging

And speaking of Facebook and Twitter. Guess what two social media channels did not rank highest for acquisition of new customers in a survey recently conducted by HubSpot. Want to know where your concentration should be in terms of social media channels that see the greatest results when it comes to winning new clients and customers? Then look no further. Dawn Westerberg Consulting

Is there a secret to writing great blog posts for your business? If so than this article blows the lid off with some simple intuitive and time honored techniques passed down from some of the best. It’s all distilled into a simple guide designed to make you a better blogger for your business. If you haven’t yet figured out how to translate your ideas into posts that will keep your potential customers coming back for more, here is the perfect starting point. Solo Biz Coach

Personal Finance

Financial planning for your small business. One of the strengths of your small business may also be its chief liability. It is the fact that you alone may be responsible for many of the functions of the business and that, without you, it might be hard for your family to maintain the business and the income it provides. Here are some considerations that may help when planning for the future, good and bad. Open Forum

Self-development

Taking time out. Sometimes the key to more efficiency and productivity is to take time out when needed. In a small business, things can become overwhelming. If you’re the only one who handles most things in your company, be sure you occasionally give yourself a break from the pressure. Taking time out allows you to recharge and helps you be more productive in the long run. Sian Phillips

From Small Business TrendsSmall Business News: Taxation, Social Media and Self-development Roundup

Andrew says his favorite platform for participating in tweetchats has become TweetChat, where all you need to do is enter the #moolah hashtag and then sign in with your Twitter account; TweetChat will display only those tweets with the #moolah hashtag, as well as always include the hashtag in your own posts. If I can get my article for tomorrow finished, I’ll be there to join the discussion!

Meanwhile, here are some great recent personal finance articles from elsewhere around the web:

First up, my pal Jim over at Bargaineering has a list of four things you shouldn’t be cheap about. Safety equipment? Don’t cut corners! Professional clothing? Invest in your future! This is an interesting topic to think about. Recently, Kris and I have discussed personal things we’re not willing to be cheap with anymore. (Travel gear, for one, and gardening equipment.)

Over at Consumerism Commentary, Flexo wrote about the advantages of buying a home with cash. This isn’t something most people can do — although I’ve recently talked with several people who’ve managed it — and it’s not something that others would want to do. Would you pay cash for a house if you could? Flexo outlines the pros and cons of such a choice.

As my financial philosophy matures, I’m more and more convinced that goals are the cornerstone of smart money management. But in order to set goals, you have to know yourself. At Personal Finance Advice, Jennifer lists five important questions you should ask about the choices you make. Will this move you toward your goals? Will it improve your life? And so on. These questions are similar to the ones I’ve learned to ask myself.

On a related note, Len Penzo has a thoughtful piece about how misplaced financial priorities lead to lame excuses. “Our spending habits reveal our priorities,” he writes. Amen!

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