In 60 Seconds you can check your business's eligibility for: - Classified Ad

In 60 Seconds you can check your business's eligibility for: - Classified Ad

Employee Retention Credit is now available in every state!

Employee Retention Credit is now available in every state! - Classified Ad

"Perfect Storm"

 

I'm sure you know that businesses, large and small, are abandoning ship every day. The news can barely keep up with announcing the closures. You come home from work every night to this, "Did you hear? So and so has just thrown in the towel." Incredibly sad ... and the improvement keeps getting stalled out.

How can you assist in help stemming this tide and help businesses survive?

This is a call to action for those who want to create significant income while helping others. It is the perfect time, and businesses need your help today.

For sixteen years, Growth Management Group (GMG) has provided tax incentive studies to successfully reignite businesses of every imaginable genre, from "mom and pop" to Fortune 500. Frequently, these companies' accountants or CPAs were unaware or afraid to deploy these studies. IMHO, these "professionals" have deprived those organizations of the tax credits the government has purposely set aside to help those very businesses, billions of dollars allocated.

GMG is currently engaged in significant marketing outreach to your businessess. This is an incredible opportunity. The "relief" is right there; black and white, staring directly at the client.

You have a simple task: contact those companies. Ensure they see GMG's correspondence, and ensure they click those links, which will take them directly to their Feasibility Study where they can engage on the spot. It is an easy call to make, even to a prospect you hardly know; "Hi John, I'm just calling as I wanted to be sure you saw an email from Growth Management in the last couple of days. It could be incredibly beneficial to you right now. If you haven't seen it, please contact me right away. Here's my cell number ..."  [Read the numbers slowly and distinctly JUST ONCE if you're leaving a voicemail.]

Cost Segregation is, by far, the fastest payout program I know of within our Advisor world and one of the most beneficial programs for our clients. It can create instant tax relief.

Get on the phone, send an email, send a text, do it right now. You can find templates in your Advisor Portal. Help society, help your situation.

Learn more at USAdvisors.info

2020 ---> The Great Shock of July 15th

 

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.
#1 – How Did I End Up Owing Money?
There are four key areas that contributed this year to so many companies owing:
Surprise Profitability
The last several years have been decent if you’re lucky but dismal for most. This caused most companies to pull back on quarterly tax prepayments, or often eliminate them altogether.2019 Was Better Than Expected
There is no question that 2019 started an upswing that is continuing to get stronger with each passing quarter (even for those companies have yet to feel the impact of that upswing).
Once income began to flow again, many businesses were forced to make capital investments that were years overdue. This means that although 2019 was in fact more profitable, it wasn’t “felt” by many Owners. Not all investments may be written off in the current year. Even if the bank account hasn’t recovered, the P&L sheets have and additionally the IRS considers many to be profitable and out of AMT. Even if the bank accounts don’t reflect the same.
Tax Breaks Disappeared
Without many major tax breaks that companies have not only come to enjoy, but have come to count on, many are finding themselves with unexpected increases to their tax liabilities.
Tax Rates Increasing
Tax rates have increased, for example; the recent Personal Limit increase to 40% and Capital Gains increasing from 15% – 25%.
#2 – Why Didn’t My CPA Warn Me?
Many owners are left wondering:
Did my CPA let me down?Why didn’t they prepare me for this?
The reality is, your CPA only knows the information you provide to them And for most of us business Owners we don’t do our CPAs any favors. As Owners we know this, and if we are honest we’ll admit that we just don’t take the time necessary to discuss an overall tax strategy with our CPA.
Yesterday I spoke with one CPA that was completely unaware that their Client had purchased an additional building (over $2M in cost), and another CPA that upon delivery of our Cost Segregation report didn’t understand where we got our figures from only to find out the Client spent over $300K in renovations last year that they failed to tell the CPA about.
Most business Owners are guilty of … running their business. As business Owners, we make decisions today that are good for our company and good for our bottom line, with little to no regard of how it affects our tax strategy (and it usually wouldn’t cross our minds to call our CPA in the middle of summer to review something for next April).
#3 – What Can I Do About It?
Step #1 for most business Owners I’ve talked to is:
Pound their fist on the desk angrily while complaining about the governmentWhen that ceases to provide relief move on to the below Step 2Step #2 (True Step #1)
For some business Owners, you bit the bullet and made a payment yesterday, for others you either filed extensions or simply filed without making a payment and are going to wait for the dreaded IRS bills to arrive.
In either instance, the good news is that just because tax day has come and gone doesn’t mean your numbers are written in stone. There is over $200B in Federal Tax Incentives allocated to small and mid sized businesses to help offset your liability.
We’ve developed a simple online tool for business owners to check in 30 seconds if you qualify for any Federal Programs.
Click here to find out in 30 Seconds if you qualify for any Federal Tax Incentives. BusinessRefund.com

Attn: Congress Has Passed The Act!!! - VIP Today

Your clients will be thrilled with the trillions of dollars in new aid available to them.  Most importantly, YOU are the gateway to these funds.  

On today's VIP we will be discussing:

PPP Expansion

ERC Increase by 4X it's previous value

WOTC Expansion and new qualification groups

New Tax Credit for employers to offset COVID-19 costs

The new Act recently passed by Congress

How to get in front of clients during thse historic times

This webinar WILL max out.  Join 10 minutes early to secure your spot.  Register now (link below) and join us at 3pm EST.

Larry at USAdvisors.info

What is TCJA?

That stands for Tax Cuts Jobs Act

What about Small Businesses?

Congress came up with a 20% deduction

Bonus Depreciation:

-50% first-year bonus depeciation deduction

-Only new assets qualify used assets do not

Qualified Leasehold Improvements:

-All 3 categories now fall under only one qualified Improvement Property

Property

Small Business Employees Returning to Work – But with Fewer Hours and Lower Pay

Why is that happening? Will it change?

For the second straight month, small businesses are bringing on more staff – but at reduced pay and fewer hours,” she added. “This new data comes as many small businesses find themselves running low on relief funds – or stretching them as far as they can to make ends meet.”

Back to work, but less money: The number of salaried workers that have had a wage cut of 10% or more increased by 80%. Hour and pay rate reductions were 33 and 27%, respectively. Furloughs accounted for 25% of reduced wages.

More employees are quitting: In June 3.4% of employees left their companies voluntarily. 

This was a 32% increase from May.

COVID-19 update

Dr. Fauci, fresh off a baseball appearance that convinced everyone he wasn't The Natural in disguise, returned to his day job to say that a coronavirus vaccine probably won't be widely available to the American public until a few months into 2021. 

The S&P had its worst day in nearly a month as earnings season rolls on.

The number of people applying for unemployment benefits rose last week for the first time since the pandemic struck in March, just as a $600 weekly federal aid payment for people who lost their jobs is set to expire this week. Southwest Airlines and American Airlines both slumped after reporting huge second-quarter losses and warning that the recovery in air travel seen in April has stalled.

Inconspicuous high-tech cleaning equipment and health safety monitors...

...are offering retailers a visually less alarming way to keep their stores clean.

Visiting a retail store may feel radically different from pre-pandemic times — with capacity restriction, hand sanitizer dispensers, and mask mandates — but in other ways, non-invasive, inconspicuous technologies are working behind the scenes to stop the spread. 

Outperform all your competitors

Our revolutionary business service distinguishes you from every competitor and gets you through doors that are closed to everyone else.  

USAdvisors.info

U.S. small business owners face difficulties in making rent payments...

...and landlords can't afford to evict them.

The economic shutdowns and on-again-off-again re-openings have made it hard for business owners to cover their rent, which can sometimes be their largest expense.

That has created an uncomfortable tension and interdependency with the often small, independent landlords or small real estate firms from which they rent. Those landlords, after all, have their own expenses and taxes to pay.

An informal survey taken at the end of June by small business advocacy group The Main Street Alliance found that nearly 60% of its members had delayed or reduced their commercial rent payments in the past four months. Nearly half said they've had to pay business expenses by borrowing against their home or using their personal credit cards.  

The economic strain likely will get worse before it gets better for everyone.

Free Quarantine Craft Kits from Help Heal Veterans

Being in quarantine can get lonely and boring. VA has teamed up with Help Heal Veterans to deliver quarantine kits to help keep Veterans occupied and entertained.

The kits contain reading and educational materials, craft supplies, and materials that can be used to help Veterans create their own face masks.

Learn More

Huawei

It is the largest telecom equipment manufacturer in the world, and its prices can’t be beat. However, some Western governments worry that the Chinese government could use Huawei gear as a Trojan horse to spy on them. The U.S. has been the most anti-Huawei of all, consistently pushing its allies to block the company.

Initially, the UK wasn’t swayed, saying it would allow Huawei gear in the “non-core” parts of its 5G network. But yesterday it made a U-turn, citing U.S. sanctions on chips that could dent the quality of Huawei products.

The British reversal is a major geopolitical win for the U.S. in its fight with China for tech supremacy.

Oil crash lessons for businesses.

Yes, April 20, 2020, will go down in history as the 1st time the price of a barrel of oil crashed below zero.

The price war between Saudi Arabia and Russia, compounded by the unexpected impacts of coronavirus, sent the value of oil spiraling in mid-February.

What does all this mean for small and medium-sized businesses? 

* If, as a small or medium-sized business, you’re heavily invested in oil-related industries, now is a good time to diversify your portfolio.

* Consumer and business prices for oil-related products aren’t determined by the base price of a barrel of oil. There are other costs involved, including refining, distribution, packaging, etc. While slightly lower prices are likely, you shouldn’t count on pumping stations offering petrol for free just yet.

* Taxpayer-Backed Loans for SMBs Went to the Fossil Fuel Industry

Conclusion

Good financial management is essential to small and medium businesses. Many companies will shut down as a result of what’s happened over the last few months. And an even greater number will struggle to get back on their feet. That's why it's important to cut costs with no upfront fees at  BusinessRefund.com

What Does a D&B Report Show?

This a business credit report that could be viewed as similar to a personal credit report for businesses.

This is the report that banks and other lending institutions may consider when determining whether they should give you a loan—as well as what interest rate may be assigned to your loan.

The best way to improve this report is to run a quick 5-minute analysis at

BusinessRefund.com

Bosses making new hires are finding that coronavirus-restrictions can actually help make them more effective recruiters.

Many employers across the U.S. small and large are still hiring--and Covid-19 is pushing them to adopt new and creative recruiting strategies.

Not long ago, the big hiring challenge often was finding enough job candidates, but with the U.S. unemployment rate at 11 percent, the focus for employers with jobs to fill has shifted to how to hire people given the restrictions imposed by the pandemic and how to benefit from hiring.

Businesses can now earn up to $5,000 per employee via YourWotc.com which host a live chat box from 

9am - 5pm  M-F  EST

Business July 15 tax deadline?

Are you ready for the July 15 tax deadline? 

It may have paid to procrastinate this year, as the IRS touts accrued interest on refunds and waives penalties for Americans that owe. 

If you are a business owner in the US, you still have time to capture your tax benefits before filing. 

See your benefits in seconds at BusinessRefund.com

Small Businesses Long-Term

Brick-and-mortar small-business owners are often reticent to spend their small amount of free time learning creative tools or how to build a successful social media strategy. The stay-at-home order has created both the time and the need to lean far more heavily on digital marketing. 

The wisest businesses will take advantage of remote collaboration platforms that allow employees to work with each other asynchronously. Slack and Microsoft Teams have seen dramatic rises in usage.

The combination of skilled people at home needing to make money and bored people at home looking to enrich or entertain themselves is a recipe for a booming population of micro-entrepreneurs. One person with a skill in demand can find an audience. It may, or may not, surpass the earning potential of whatever the person was doing before, but it will open many people’s eyes to new possibilities. 

Openings and closings may be doom restaurants and other businesses!

Many restaurants were set to be able to offer indoor dining this week, but officials scrapped those plans as Covid-19 cases rose across several parts of the country.

Officials in parts of the country also are taking steps to rollback some of their coronavirus reopening plans, especially businesses like bars, gyms and banquet facilities

You Can Cut Business Costs

                                       

Over 79% of small businesses were hit by the pandemic. To lessen the impact of Covid-19 on your business, you should make use of all the available resources and try to cut business costs to have more cash in hand.

Following are some proven cost-cutting ideas for your small business:

*Look for discounts from your local chambers

*Try to adopt free cloud tools, such as Google Drive, Skype, etc.

*Outsource short-term projects

*Adopt a Bring Your Own Device (BYOD) program

*Purchase used equipment for your business

*Allow more employees to work from home if it is feasible

*Look for tax deductions (see upper right corner of blog)

Nearly 90% of Consumers Want a Local Business to Continue Pandemic Services Such As Curbside Pickup.

Eric Rea, co-founder and CEO at Podium, says what was once an option has become the only way to sell goods and services during COVID 19.

“While previously just a nice way to do business, offering options like contactless payments, texting and curbside pickup have become the only way for local businesses to operate,” he said in a press release. “There has been steady movement towards digital transformation among local businesses in recent years. That accelerated over the past few months. Consumers have become accustomed to the new forms of communications and services. There’s no going back.”

Small Business Update

Small businesses see a downturn in local economies. 

The number of small businesses reporting a good local economy declined seven percentage points 

from 59% to 52% in Q1

What can they do to survive?

Take a 5-minute survey to find their solution.

In the next year, do you anticipate increasing staff, retaining the same size staff, or reducing staff?

Hiring Incentives have been a part of our country's infrastructure since the early 1940s. At that time most Hiring Incentives were focused on Veterans returning to work after periods of service. This continued to be the main focus for Hiring Incentives until the 197os and 1980s when the focus was expanded to include Ex Felons, and Welfare Recipients.

There was a dramatic shift and expansion to Hiring Incentives in the late 1990s throughout the 2000s which opened the door for Job Creation as the focus for Hiring Incentives. As a part of this change the Work Opportunity Tax Credit (WOTC) was created in 1996 and has been modified, extended and consolidated with existing Hiring Incentives repeatedly since.

The credit was scheduled to be eliminated in 2015, but the PATH Act signed in December 2015 reinstated the tax credit and extended it through December 31, 2019.

WOTC allows employers to claim a credit against their federal income tax liabilities for qualified employees. WOTC can also be used to offset AMT (Alternative Minimum Tax). Employers generally can earn a tax credit equal to 25% or 40% of a new employee's first-year wages, up to the maximum for the target group to which the employee belongs. Employers will earn 25% if the employee works at least 120 hours and 40% if the employee works at least 400 hours.

The average benefit per employee is $2,400 and can be as much as $9600. That means potentially 10 qualified employees could yield a federal income tax credit between $24K and $96K. Additionally, WOTC credits may be carried back one year and carried forward 20 years.

Simply put, the WOTC reduces an employer's cost of doing business and turns Hurman Resources into a profit center.

Historically the steps necessary to qualify for the WOTC have been time consuming and burdensome. GMG Savings has made substantial investments in a proprietary technology process that relieves the employer of 90% of this burden by automating most of the steps involved in prescreening and certifying candidates before hiring as well as streamlining the submission of required documentation to State and Federal agencies.

Our online Client portal allows for a simple interface that any size company can take advantage of to avoid the paperwork, tracking, and submission headache that come with managing the WOTC program on their own.

Please use this link to review additional information on the WOTC benefit: www.yourwotc.com

Have you increased staff, retained the same size staff, or reduced staff?

YourWotc.com, a Federal program created after WWII, grants you $2400-$9600 for each new hire and now also applies to retaining employees and there is a new employee retention tax credit for employers who are closed, partially closed, or experiencing significant revenue losses as a result of COVID-19.

Test it now and see your potential tax credits No contract required, no software to buy and it does 90% of the work for you.

MetLife & U.S. Chamber of Commerce Small Business Index rose to 71.7 this quarter, up 0.4 points from 71.3 last quarter.

The number of small businesses who report good local economic health declined significantly (from 59% in Q4 2019 to 52% in Q1 2020). Small business optimism also waned in three indicators: overall business health, comfort with cash flow, and staff increases. In contrast, the outlook on the national economy improved to a record high 60%, resulting in a slightly higher index score.

The survey was taken between December 19, 2019 - January 31, 2020 and reflects sentiment at the time.

Business Brokers $ Consultants

Business Brokers $ Consultants

Thousands of job openings amid crisis!!!

 WOTC Is More Important Now Than Ever Before For Business Owners! 

                         YourWotc.com

Emergency Business Relief

Emergency Business Relief - Classified Ad