Class Action Suit Settled For U.S. Hospitals

Soon hospitals can take advantage of the $2.67 billion settlement with Blue Cross Blue Shield. The litigation began in 2013, when a class-action lawsuit was filed against more than 35 Blue Cross Blue Shield health insurance plans. It will be paid out soon to those who contact us. 

That, and the underpayment recovery (from insurers) will put millions in the hands of US hospitals. 

Currently, only about 20% of hospital officials are responding to either one!

Contact Larry Potter at Lgpotter33@gmail.com for either, or both.

How much more business does the average business owner need to generate to increase cash flow $240,000 per month?

 

To determine how much more business a business owner needs to generate to increase cash flow by $240,000 per month, you'll need to consider several factors, including:

1. Profit Margin: The percentage of revenue that remains as profit after all expenses.

   • For example, if the profit margin is 20%, you'll need to generate $1,200,000 in additional revenue to achieve $240,000 in additional cash flow ($240,000 / 0.20).

2. Current Revenue: The current revenue levels and any existing cash flow.

3. Fixed and Variable Costs: Understanding how fixed and variable costs may affect the business's profitability.

Formula

The formula to calculate the additional revenue needed is:

$$\text{Additional Revenue} = \frac{\text{Desired Cash Flow Increase}}{\text{Profit Margin}}$$

Example Calculation

• Desired Cash Flow Increase: $240,000
• Profit Margin: 20% (0.20)

$$\text{Additional Revenue} = \frac{240,000}{0.20} = 1,200,000$$

Conclusion

If the profit margin is 20%, the business would need to generate an additional $1,200,000 in revenue to increase cash flow by $240,000 per month. Adjust the calculation based on the actual profit margin for a more accurate figure.

Note:  The same increase (average of $240,000) can generated using this free online calculator.

It's also a great tool for financial advisors!!

Something Holding You Back?

Ask yourself:

Are you waiting for the perfect moment? Are you letting fear of failure hold you back? Are you overthinking instead of executing?

You don’t need to be perfect. You just need to start.

Motivation is like a sugar high—it doesn’t last.

Momentum? That’s a whole different story. Momentum is built by showing up every day and stacking small wins. It’s not sexy, but it’s how you win the long game.

Here’s the plan:

Set one clear goal for today. Do the work to achieve it. Rinse and repeat tomorrow.

Before you know it, you’re unstoppable.

 

Tax Due Dates

 

February 18

Employers: Deposit nonpayroll withheld income tax for January if the monthly deposit rule applies.

Employers: Deposit Social Security, Medicare and withheld income taxes for January if the monthly deposit rule applies.

Businesses: Provide Form 1099-B, 1099-S and certain Forms 1099-MISC (those in which payments in Box 8 or Box 10 are being reported) to recipients.

Individuals: File a new Form W-4 to continue exemption for another year if you claimed exemption from federal income tax withholding in 2024.

February 28

Businesses: File Form 1098, Form 1099 (other than those with a January 31 deadline), Form W-2G and transmittal Form 1096 for interest, dividends and miscellaneous payments made during 2024. (Electronic filers can defer filing to April 1.)

March 10

Individuals: Report February tip income of $20 or more to employers (Form 4070).

Resolutions don’t work.

 

By the 2nd Friday of January (a.k.a. Quitter’s Day), most people have already thrown in the towel. Why? Because resolutions are big, vague, and easy to quit on.

But not you. You’re not most people.

Here’s what works instead: Daily goals.

Every single day, you wake up with purpose. You set a goal. You crush it. No excuses. No delays. Just momentum.

IRS 1099-K Rule CHANGES You Need to Know

A major IRS rule change is here, and it could dramatically impact your bottom line if you're not prepared. Starting in 2024, the threshold for reporting payments via platforms like Venmo, PayPal, and Cash App is dropping to just $5,000—and it will shrink even further in the years to come.

Here's what you need to know:

• Old Rule: $20,000 or 200 transactions.
• New Rule: $5,000 in 2024, $2,500 in 2025, and $600 in 2026.
• Who’s Affected? Online sellers, freelancers, gig workers, and small business owners using payment apps for goods and services.

This isn’t just about compliance—it’s about saving your business thousands by avoiding penalties and setting up proper bookkeeping systems.