Talking to a financial adviser for more specific advice does not constitute professional financial advice.
If you can improve your personal finances with a solid emergency fund, strong personal credit, and a diversified portfolio of retirement savings aside from the equity that you own in your business, you will more likely be able to focus on running your company with a mindset of calmness and optimism.
And for business owners, who are some of the busiest people in the world, having peace of mind about business savins can be truly priceless.
Now help is only a click away at www.BusinessRefund.com
While some programs are still available and can be the bridge that keeps your business alive, there are two new tax credits available through the CARES Act that you can take advantage of right now.
We’ve developed a tool that allows you to see your potential benefit.
Please let me know what you think.
The IRS has opened a tool kit of exceptions to its standard policies on hiring, assigning and paying employees. This is clearing the way for increased recruitment, retention and relocation incentives for businesses.
These are among a number of moves over the past two months affecting both current and prospective employees in response to the Covid situation. This not only applies to for profit companies, but can also apply to non-profits.
The amounts can be from $2400 - $9600 per person and can be quickly determined by going to WOTC and answering two simple questions, no contract is required and live support is available to answer all questions Mon-Fri from 9am-5pm EST
Corey complained (rightly so) that the governor “throws up something different every time you turn around.”
The owner said Jimmy’s Roadhouse has been in his family since 1970 and estimates he's lost about $65,000 since mid-March, when the governor told restaurants to close dining rooms and offer only takeout.
Cory says he received a loan from the federal Paycheck Protection Program, he said the money can only be used to pay his employees.
This astute business owner may now be looking at Business Refund for emergency relief for business owners that has no upfront fees.
Tax law provisions are available to help businesses recover financially from the impact of this disaster.
By completing a quick survey, the software will search hundreds of Local, State, and Federal programs that fit their qualifications and help them claim their benefits, often with a check arriving in 3-6 weeks that does not have to be paid back.
...and there's really no industry limitation.
Any business that is eliminating technical uncertainty in the development of products or experimenting and relying on science to really develop a product is a very good candidate for an R&D credit.
Anyone looking to leverage the R&D tax credit should first visit BusinessRefund.com and then consult with their accounting team.
While many businesses have been hit hard by the coronavirus pandemic, dentists have faced some of the biggest challenges because numerous procedures routinely use instruments that can create droplets and aerosols, posing potential risks of transmission.
Many were closed for months and were seeing emergency cases only. They were seeing patients who were in pain; no treatment was being done to not have aerosols. It was whatever could be done without a handpiece or ultrasonic devices. There were no fillings, no treatment per se, or crowns — only for symptom relief.
Patients, of course, were anxious about safety, so it has taken a lot of training of staff and then also reassuring patients of all the steps that were taken so that they feel safe to come in. Pre-COVID versus post-COVID, most practices have lost 20 to 30% business.
Now there is emergency business relief for the dental industry and it is not a loan. More info here.
A corporation the stock of which is NOT publicly traded
A partnership, or
A sole proprietorship, AND if the average annual gross receipts of such corporation, partnership or sole proprietorship for the 3-taxable-year period preceding the taxable year does not exceed $50M
*Drive Urgency by Focusing on a Couple of Key Shopping Days
One great way to make sure your customers take advantage of your holiday offerings is to make them time sensitive. Then surprise your audience by extending your sale last-minute and give yourself another opportunity to mention your offerings.
*Double Down on Your Small Business Story
Your business has something the superstores don’t: a regional story that has the potential to capture hearts.
*Refresh Your Social Creative
Consider updating your cover photos on social media to reflect the holidays or a new merchandise you’re hoping to move.
Regardless of the size of your business, take advantage of the specialized savings available for you company now.
Added to their other duties, providers must be ever-vigilant against a rapidly spreading virus. A single infection in a facility has the potential to trigger a domino effect, impacting parents, their ability to work, and other businesses.
The daycare industry was struggling even before the pandemic struck. A shortage of providers was exacerbated as some closed their doors in the wake of the pandemic.
Some states have seen a rate of closure as high as 50 percent. Unfortunately, many did not realize there was immediate help with just a couple of clicks.
Immediate help for providers.
• COVID Employee Retention Credit
• Disaster Retention Credit
• Workers Opportunity Tax Credit
• R&D Employer Tax Credit
• Cost Segregation
• Property Tax
Where? Business Refund
Then take the results to your CPA, we don't do taxes.
Stryde has released another page for businesses as the country seems to be on the verge of shutting donw again!!!
You can view that page now.
Larry Potter
Startup Companies Now Qualify
The definition of a Startup under the PATH Act is simply, any company formed after 2010 with gross receipts less than $5M in 2016. Qualifying businesses may capture up to $250,000 of incentives and tax credits annually and be able to claim credits against payroll taxes. Companies that don't meet this criteria still qualify for Federal Tax Credits under the PATH Act with the expanded R&D Tax Credit.
An Elevator Pitch is a 30-60 second, well-crafted speech designed to sell a product, a service, or yourself.
Well known business author Seth Godin says, "The purpose of an elevator pitch is to describe a situation or solution so compelling that the person you're with wants to hear more even after the elevator ride is over."
With the growth of technology, social media, and instant information, it has become more difficult to connect with other professionals and build new relationships. By preparing an elevator pitch you put yourself at the ready to build those relationships when the opportunities arise.
A good elevator pitch consists of 5 parts:
1. Introduction
Before jumping in, you need to introduce yourself. Who you are, perhaps including your role with the company. Remember to keep personal information about yourself to a minimum at this point as you have not earned the prospect's interest or attention yet.
2. What You Do
Have a clear and simple understanding of what your company does. Know the company's mission and goals for the product or service. Briefly introduce this.
3. What's The Value / What Makes You Different
What does your company do exceptionally well that sets itself, product or service apart from others. 1-2 sentence statement about the value of the product or service to your clients.
4. Grab Their Attention
Now is your chance to pull the prospect in with an exciting story about a client, company founders or offer a fascinating fact or statistic about the service or product.
5. What's Next
At this point you're going to have piqued interest and you can show them an example via the app on your phone and setup a time to walk through presentation pro.
Write down your pitch word-for-word. Start with the 5 part formula, and then tweak it so that it flows naturally. Keep it short! The tendency is to ramble ... which guarantees that people will stop listening.
After writing it out, read your elevator pitch over and over, like an actor preparing their lines.
Remember to work in adjustments according to the potential client you are speaking to. When it flows off your tongue, you'll sound confident and conversational.
In his book Speak Like Churchill, Stand Like Lincoln, former political speechwriter James C. Humes writes, "Whether you are going to a breakfast meeting with a potential investor, making a sales talk, or delivering a product presentation, you need to first come up with the key message you want to leave with your audience."
Let that key message be your North Star. If you can't state your idea in a single sentence, don't give up. Keep at it. For many speakers, this is the hardest part of their speech — and the most critical one.
If you do the heavy mental lifting upfront, it will be much easier to craft clear, compelling copy when you sit down to write. As Humes notes, "Make figuring out your bottom-line purpose (your big idea) your first priority."
This tax season I encountered a record number of business owners that were outright shocked to find out how much they owed for 2019 taxes. There are a few common questions I keep hearing.
