New Step for Nevada: Commission Approves Online Gambling Regulations
On Dec. 22, 2011, the Nevada Gaming Commission unanimously approved regulations drafted by the Nevada Gaming Control Board that could make Nevada the first state to provide online gambling within its borders.Earlier this year the Nevada state legislature passed legislation allowing for intrastate online gaming. In June, Governor Brian Sandoval, a former Nevada Gaming Commission Chairman, signed the legislation into law. Earlier this year, Washington, D.C., became the first U.S. jurisdiction to pass a law allowing online gambling played within its geographic limits, but the law has still not been implemented. Several other states have debated or introduced bills that would legalize online gambling within its borders.
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Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Dec 30, 2011
10 Best Spoof Twitter Accounts of 2011
10 Best Spoof Twitter Accounts of 2011
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Dec 9, 2011
American Corporate Enterprises, Inc.'s Blog: A Penny Saved...Can Be A Fortune Lost
American Corporate Enterprises, Inc.'s Blog: A Penny Saved...Can Be A Fortune Lost:A Penny Saved Can Be A Fortune Lost
It wasn’t that long ago that we were bombarded with news updates about the horrific Deepwater Horizon oil spill (a.k.a. BP oil disaster) that occurred back in April of 2010. In January 2011 the Whitehouse oil commission released a report wherein they blamed BP and its partners for a series of cost-cutting decisions as contributing to this catastrophic accident.
One of the so called cost-cutting decisions was to not use a diagnostic tool to test the strength of the cement. What was the cost of this tool? The cost was a tiny fraction of what they lost in oil, paid for cleanup, what they have paid to settlements and what they will pay for future settlements. That’s right- a tiny fraction!
How does this relate to you? Do you have a Corporation but no Corporate Record Book? It’s all too common these days for people to want to start a Corporation and put off obtaining a Corporate Record Book to cut startup costs, figuring that they’ll get to it later. But most forget about it.
About 60% of closely held Corporations are in jeopardy of having their corporate veil pierced because they don’t tend to the formalities of issuing stock, keeping up their Corporate Minutes and Resolutions, etc.
A couple of years ago a gentleman called to inquire about the cost of setting up a Corporation. He mentioned that he did indeed want a Corporate Record Book with his order. He said he had recently lost a lawsuit that wiped him out. He stated that the court ruled against him because he had no Corporate Record Book and had not issued stock. He vowed to do it right this time.
Here again is another example where initial savings ended up costing many times more in the long run. How much is a Corporate Record Book? It varies depending on where you purchase it, the quality, etc. but it most definitely was a small fraction of what this gentleman lost. Typically you can purchase one for under one hundred dollars.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
It wasn’t that long ago that we were bombarded with news updates about the horrific Deepwater Horizon oil spill (a.k.a. BP oil disaster) that occurred back in April of 2010. In January 2011 the Whitehouse oil commission released a report wherein they blamed BP and its partners for a series of cost-cutting decisions as contributing to this catastrophic accident.
One of the so called cost-cutting decisions was to not use a diagnostic tool to test the strength of the cement. What was the cost of this tool? The cost was a tiny fraction of what they lost in oil, paid for cleanup, what they have paid to settlements and what they will pay for future settlements. That’s right- a tiny fraction!
How does this relate to you? Do you have a Corporation but no Corporate Record Book? It’s all too common these days for people to want to start a Corporation and put off obtaining a Corporate Record Book to cut startup costs, figuring that they’ll get to it later. But most forget about it.
About 60% of closely held Corporations are in jeopardy of having their corporate veil pierced because they don’t tend to the formalities of issuing stock, keeping up their Corporate Minutes and Resolutions, etc.
A couple of years ago a gentleman called to inquire about the cost of setting up a Corporation. He mentioned that he did indeed want a Corporate Record Book with his order. He said he had recently lost a lawsuit that wiped him out. He stated that the court ruled against him because he had no Corporate Record Book and had not issued stock. He vowed to do it right this time.
Here again is another example where initial savings ended up costing many times more in the long run. How much is a Corporate Record Book? It varies depending on where you purchase it, the quality, etc. but it most definitely was a small fraction of what this gentleman lost. Typically you can purchase one for under one hundred dollars.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Nov 30, 2011
Nordstrom Innovation Lab
This is an interesting video that showcases the Nordstrom Innovation Lab using some fun and creative methods to develop a new iPad App. Do you have an innovation lab at your company? If not, perhaps it's time to try it out. You just might be astounded at what your employees come up with.
If you need assistance with Executive Leadership Training, Sales Training, Managment Training or Employee Motivation, feel free to give us a call. Our team is ready to help.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
If you need assistance with Executive Leadership Training, Sales Training, Managment Training or Employee Motivation, feel free to give us a call. Our team is ready to help.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Nov 22, 2011
Nevada Commission On Tourism Welcomes Skiers
Lt. Governor Brian Krolicki announced today that NCOT is launching a new ad campaign to welcome skiers to the Sierra Nevada region. Check out some of the beautiful scenery.
For more Nevada travel information visit http://travelnevada.com/ and enter to win a free Nevada ski getaway.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
For more Nevada travel information visit http://travelnevada.com/ and enter to win a free Nevada ski getaway.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Sep 14, 2011
Getting Your Product Video Produced Right! The First Time...
Written by Tyler Bourns // CEO Bourns Productions Inc.
Launching a brand new product can an exciting yet nerve racking time for any company. The list of things that need to be considered and/or integrated into that product's marking campaign can be daunting. Many choose to use video as an integral part of their strategy. This is a wise decision, and not just because I own a video production company ; but because video can be incredibly effective at demonstrating features, highlights and functionality of your product in an incredibly engaging way that just can't be demonstrated via description text or still photos. On top of that, studies have shown that having a product video online can increase sales and decrease returned items and unhappy customers!
According to Turnhere; Inc. “Consumers make informed purchases when they see a video. For the online shoe store Zappos, not only did purchases increase by 10% when a product included a video description, but returns for the product also decreased.”
Remember, with the advance of YouTube and online media, people now demand their information in a fast, engaging and easy to understand way. A product video can accomplish all three.
After deciding, that yes, you'd like to move forward with a video of your product, there are numerous factors to consider. Ask yourself these questions:
1. Is this a new or pre-existing product?
If your product is new, then you have a clean slate to work with. Now is a great opportunity to razzle and dazzle those potential consumers, but remember to grab their attention quickly and not overload them with too much information too soon, or else they'll get overwhelmed and move on. Keep it simple and tell them why they NEED not WANT your product. You can always have a second more detailed video produced for those customers looking to learn more. It's the old adage here, you don't get a second chance at a first impression.
If this is a pre-existing product, analyze why you just now decided to move forward with a video. Do you just need a marketing boost or has your product developed some misconceptions and/or general negativity that needs to be dispelled? Either way, make sure you listen to what your customers have been saying about your product, both good and bad, and use that as your base of direction in your video.
2. Who is your demographic?
This is one of the most important questions in any type of marketing that you do. You must know and understand who you are selling to before you can determine the style, pacing, look and feel of your video. You wouldn't want a video featuring heavy metal music and fast erratic cuts when trying to sell the serenity of a spa bath product to middle aged women, would you? Just because a video looks and sounds “cool” to you, does not mean that it will be effective. Know and study your products demographic and tailor your video to them and their interests in order to get the most effective response.
3. What are you trying to accomplish with this video?
This ties into the first question as well. You know you want a video for your product, but what do you want it do and/or accomplish? Do you need help with sales? Is your product hard to use and needs an instructional video to help ease customer frustration? Are you looking for a visual element to show at trade shows? Etc. These questions determine what style of product video is right for you, be it an infomercial or commercial, Product highlight video, making of video or even an instructional video.
4. What is your budget?
You get what you pay for... well most of the time at least. Product Video can cost anywhere from a few hundred dollars all the way into the six figures. Determine the level of quality you need and then go out and get bids from multiple video production companies. If one company is more expensive than another but their quality of work seems to be the same, don't be afraid to ask them directly what the benefit of going with them is in comparison to the money you could save. Be sure to give them as much information as possible in order to get an accurate quote. It's important not to short change yourself with a cheap but unprofessional video, it will end up costing you more in the long run and will short change the quality of your brand. At the same time, it's also important not to over do it if you don't need to by using the most expensive company. You'd be amazed at the how great a final product (video) you can get at a reasonable cost in this market, just by doing your homework.
Make sure the company you choose has a strong portfolio, large or quality list of clients, and a couple of solid references. Give them a call so that you can get an initial feel of how you'll be treated. Also take into account how they represent themselves. How professional is their website? Read their social media pages. Think about it, if they can't market themselves, how can you expect them to be able to market you and your product.
Okay, so you now you have a few things to think about, but lets break down one more thing that we had previously mentioned. What kind of Product Video is right for you and how can you optimize it's effectiveness?
TV Infomercial/Commercial:
A TV ad is a fantastic way to get your product out to the masses quickly, but be aware, air time can be very expensive, so make sure you appropriately budget and research the time that you do pay for before running up unnecessary costs.
The best infomercials are the ones that not only grab your attention but also present the product in such a way that the consumer feels they have to have it and can't live without it. Finding the right host personality can also turn into larger success for your product.
My favorite infomercial example I like to use is actually one I operated camera on a few years back: Slap Chop (http://youtu.be/rUbWjIKxrrs) presented by Vince of ShamWow fame. In my opinion, Vince and the Director put together a perfect formula to help drive success to an otherwise simple product. With an eccentric delivery and witty writing, the infomercial became popular overnight because it got people talking and laughing while still presenting the product in a positive “this will change your life” light. The spot's popularity was then taken to another level on the internet when people started doing spoofs and remixes of the original spot, giving the informercial extra legs for no additional cost. The thing to learn here: Make a spot that is unique, engaging and gets people talking!
Online Product Videos:
There are so many different possibilities when talking about product videos for the web, so I'm just going to briefly touch on them.
Website videos have become an increasingly popular request among my clients. This is a great way to give potential buyers a chance to really understand your product. I often suggest to my clients and web designers to place their videos in a visible and easy to find place on their website. Typically right on the product page on the description. Putting a buy now option next to the video has shown to increase sales as well.
You never want to hide your videos on a back page somewhere. You'd be surprised to find out how few people will even know it exists, effectively wasting all the money you spent to have the video produced in the first place...
Here is a website product video I did for a machine gun manufacturer, produced in conjunction with FFE Creative: http://www.youtube.com/watch?v=6NKaw5039z8
These videos can also be distributed to your company's YouTube and other social media channels. These viral online product videos are a fantastic and inexpensive way to market your product.
Trade Shows and In Store Demos
Trade Shows, In Store Demo Videos, and really any publicly displayed video generally use the same style and approach. Hundreds of people walk by these video displays in any given hour. You'll also be battling the fact that you typically can't use (or in some cases hear) audio in these atmospheres. Audio and Music typically drive the pacing excitement and information of the video, so this presents a new challenge. In turn, it becomes paramount to have dynamic visuals to grab people's attention as they walk by while using subtle graphic titles to help place additional emphasis on important information.
This is just a small sampling of the opportunities and directions to go with your product video. Be sure to sit down with your video production team to discuss these topics further before proceeding with your next video.. And remember... at the end of the day, your video represents both the company and the product's brand and reputation, so make sure you get it done right!
---
Tyler Bourns
Bourns Productions Inc.
775.230.4831
bournsproductions@gmail.com
www.bournsproductions.com
Like us on Facebook
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Launching a brand new product can an exciting yet nerve racking time for any company. The list of things that need to be considered and/or integrated into that product's marking campaign can be daunting. Many choose to use video as an integral part of their strategy. This is a wise decision, and not just because I own a video production company ; but because video can be incredibly effective at demonstrating features, highlights and functionality of your product in an incredibly engaging way that just can't be demonstrated via description text or still photos. On top of that, studies have shown that having a product video online can increase sales and decrease returned items and unhappy customers!
According to Turnhere; Inc. “Consumers make informed purchases when they see a video. For the online shoe store Zappos, not only did purchases increase by 10% when a product included a video description, but returns for the product also decreased.”
Remember, with the advance of YouTube and online media, people now demand their information in a fast, engaging and easy to understand way. A product video can accomplish all three.
After deciding, that yes, you'd like to move forward with a video of your product, there are numerous factors to consider. Ask yourself these questions:
1. Is this a new or pre-existing product?
If your product is new, then you have a clean slate to work with. Now is a great opportunity to razzle and dazzle those potential consumers, but remember to grab their attention quickly and not overload them with too much information too soon, or else they'll get overwhelmed and move on. Keep it simple and tell them why they NEED not WANT your product. You can always have a second more detailed video produced for those customers looking to learn more. It's the old adage here, you don't get a second chance at a first impression.
If this is a pre-existing product, analyze why you just now decided to move forward with a video. Do you just need a marketing boost or has your product developed some misconceptions and/or general negativity that needs to be dispelled? Either way, make sure you listen to what your customers have been saying about your product, both good and bad, and use that as your base of direction in your video.
2. Who is your demographic?
This is one of the most important questions in any type of marketing that you do. You must know and understand who you are selling to before you can determine the style, pacing, look and feel of your video. You wouldn't want a video featuring heavy metal music and fast erratic cuts when trying to sell the serenity of a spa bath product to middle aged women, would you? Just because a video looks and sounds “cool” to you, does not mean that it will be effective. Know and study your products demographic and tailor your video to them and their interests in order to get the most effective response.
3. What are you trying to accomplish with this video?
This ties into the first question as well. You know you want a video for your product, but what do you want it do and/or accomplish? Do you need help with sales? Is your product hard to use and needs an instructional video to help ease customer frustration? Are you looking for a visual element to show at trade shows? Etc. These questions determine what style of product video is right for you, be it an infomercial or commercial, Product highlight video, making of video or even an instructional video.
4. What is your budget?
You get what you pay for... well most of the time at least. Product Video can cost anywhere from a few hundred dollars all the way into the six figures. Determine the level of quality you need and then go out and get bids from multiple video production companies. If one company is more expensive than another but their quality of work seems to be the same, don't be afraid to ask them directly what the benefit of going with them is in comparison to the money you could save. Be sure to give them as much information as possible in order to get an accurate quote. It's important not to short change yourself with a cheap but unprofessional video, it will end up costing you more in the long run and will short change the quality of your brand. At the same time, it's also important not to over do it if you don't need to by using the most expensive company. You'd be amazed at the how great a final product (video) you can get at a reasonable cost in this market, just by doing your homework.
Make sure the company you choose has a strong portfolio, large or quality list of clients, and a couple of solid references. Give them a call so that you can get an initial feel of how you'll be treated. Also take into account how they represent themselves. How professional is their website? Read their social media pages. Think about it, if they can't market themselves, how can you expect them to be able to market you and your product.
Okay, so you now you have a few things to think about, but lets break down one more thing that we had previously mentioned. What kind of Product Video is right for you and how can you optimize it's effectiveness?
TV Infomercial/Commercial:
A TV ad is a fantastic way to get your product out to the masses quickly, but be aware, air time can be very expensive, so make sure you appropriately budget and research the time that you do pay for before running up unnecessary costs.
The best infomercials are the ones that not only grab your attention but also present the product in such a way that the consumer feels they have to have it and can't live without it. Finding the right host personality can also turn into larger success for your product.
My favorite infomercial example I like to use is actually one I operated camera on a few years back: Slap Chop (http://youtu.be/rUbWjIKxrrs) presented by Vince of ShamWow fame. In my opinion, Vince and the Director put together a perfect formula to help drive success to an otherwise simple product. With an eccentric delivery and witty writing, the infomercial became popular overnight because it got people talking and laughing while still presenting the product in a positive “this will change your life” light. The spot's popularity was then taken to another level on the internet when people started doing spoofs and remixes of the original spot, giving the informercial extra legs for no additional cost. The thing to learn here: Make a spot that is unique, engaging and gets people talking!
Online Product Videos:
There are so many different possibilities when talking about product videos for the web, so I'm just going to briefly touch on them.
Website videos have become an increasingly popular request among my clients. This is a great way to give potential buyers a chance to really understand your product. I often suggest to my clients and web designers to place their videos in a visible and easy to find place on their website. Typically right on the product page on the description. Putting a buy now option next to the video has shown to increase sales as well.
You never want to hide your videos on a back page somewhere. You'd be surprised to find out how few people will even know it exists, effectively wasting all the money you spent to have the video produced in the first place...
Here is a website product video I did for a machine gun manufacturer, produced in conjunction with FFE Creative: http://www.youtube.com/watch?v=6NKaw5039z8
These videos can also be distributed to your company's YouTube and other social media channels. These viral online product videos are a fantastic and inexpensive way to market your product.
Trade Shows and In Store Demos
Trade Shows, In Store Demo Videos, and really any publicly displayed video generally use the same style and approach. Hundreds of people walk by these video displays in any given hour. You'll also be battling the fact that you typically can't use (or in some cases hear) audio in these atmospheres. Audio and Music typically drive the pacing excitement and information of the video, so this presents a new challenge. In turn, it becomes paramount to have dynamic visuals to grab people's attention as they walk by while using subtle graphic titles to help place additional emphasis on important information.
This is just a small sampling of the opportunities and directions to go with your product video. Be sure to sit down with your video production team to discuss these topics further before proceeding with your next video.. And remember... at the end of the day, your video represents both the company and the product's brand and reputation, so make sure you get it done right!
---
Tyler Bourns
Bourns Productions Inc.
775.230.4831
bournsproductions@gmail.com
www.bournsproductions.com
Like us on Facebook
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Sep 1, 2011
Dell Unveils Stack Of SaaS Solutions For SMBs At Salesforce.com Conference - Network Computing
Dell Unveils Stack Of SaaS Solutions For SMBs At Salesforce.com Conference - Network Computing
“Our focus is to disrupt with simplicity as opposed to trying to make money off of complexity,” said Paulette Altmaier, vice president of global SMB solutions at Dell, at a news conference Tuesday.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
“Our focus is to disrupt with simplicity as opposed to trying to make money off of complexity,” said Paulette Altmaier, vice president of global SMB solutions at Dell, at a news conference Tuesday.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Aug 10, 2011
Saving For Education
Contributed by Sara Zaro, Pres.
Elite Bookkeeping & Tax Services
Planning for educational expenses can be challenging when there are so many options out there for your clients to choose from. The following information outlines some of the choices available to them and explains the tax benefits associated with these options. Together you can use this newsletter to review options and potentially come up with a feasible plan for managing educational expenses.
Planning for educational expenses is no easy task. It’s hard to know how much to set aside or where to invest it. Here is a brief summary of some of the options available to you and the tax benefits associated with these options. This is by no means an exhaustive list; however it should provide you with a general knowledge with which to move forward. If after reading this you find that you have questions or would like to discuss any of the information in more depth, please give me a call.
College Facts
Before we explore the different options available for paying and saving for college, let’s first look at what going to college costs. The following information refers to the 2010-2011 school year. Keep in mind that tuition and fees at public four year colleges and universities has gone up an average of 5.6% per year beyond the rate of general inflation.
Public 2 yr: $2,713, R&B negligible
Public 4 yr, In-state: $7,605, R&B $8,535
Public 4 yr, Out of state: $19,595, R&B $8,535
Private 4 yr. Nonprofit: $27,293, R&B $9,700
Private 4 yr. For profit: $13,935, R&B neglible
By the time your child or grandchild graduates high school, it’s hard to know what your savings goal should be. There are several websites that offer a calculator that helps you predict how much a higher education will cost. Savingforcollege.com is one such website and it also offers up a wealth of information about paying for college.
Paying for College
There are a lot of ways a college education can be paid for, including both out of pocket expenses and financial aid such as scholarships, grants, loans, fellowships and work study programs. Financial aid is an important thing to keep in mind when planning how to pay for a college education. Colleges calculate student financial aid by calculating the cost of attendance (COA) then subtracting the expected family contribution (EFC). Most colleges use the information obtained from the student’s Free Application for Federal Student Aid (FASFA) form to calculate the EFC.
The formula for this calculation is made up of four parts outlined below:
1. 50% of student’s income (Adjusted Gross Income (AGI) plus untaxed income and benefits, less income protection allowance, less deductions for certain taxes)
2. 20% of certain student’s assets
3. 22-27% of parents income (AGI plus untaxed income and benefits, less income protection allowance, less deductions for certain taxes, less employment expense)
4. 2.6-5.6% of certain parent’s assets less asset protection allowance.
It’s important to remember that tax savings are often dwarfed by potential financial aid awards. Shifting assets into your child or grandchild’s name now in order to shift the tax burden of the income may later reduce their financial aid eligibility. Be sure to discuss the future impact of any tax saving transactions with your tax professional to help reduce the potentially negative impact on financial aid.
Saving for College
There are several ways to invest and save specifically for the expense of college. Having a working understanding of your options will help you to decide which is best for your needs and circumstance. Here are four options to consider. The tax benefits of the following options come from using the funds for qualified higher education expenses. In each case it is important to remember to reduce the qualified higher education expenses by tax exempt educational benefits such as the American Opportunity Tax Credit, the Lifetime Learning Credit, QTP payments or reimbursements, Coverdell Education Savings Account payments, VA benefits, grants, scholarships and fellowships.
Education Savings Bonds
Savings bonds have long been given to a child or grandchild as an investment in that child’s future. They are a very safe investment with a low to moderate return. The interest earned on the savings bond is tax free if the bond proceeds (principal plus interest) are used to pay for qualified higher education expenses. If you elect to exclude the interest on your tax return, it must be done in the year you redeem the savings bond.
Traditional and Roth IRA’s
IRA’s are usually thought of as a way to save for retirement because there is typically a 10% penalty for funds withdrawn before age 59 ½. However, they should not be overlooked when considering saving for education. With a traditional IRA, your contributions can be tax deductible and can grow tax deferred. With a Roth IRA, your contributions aren’t deductible, but they do have the potential to grow tax free. With either option, you can contribute 100% of your earned income up to the annual contribution limit ($5,000 or $6,000 for 50 and older). With a traditional IRA, if you and/or your spouse have earned income and you are filing jointly, you are eligible to make contributions until the year you reach 70 ½ years old. There is no age limit with a Roth IRA, however your modified adjusted gross income must fall within certain limits depending on your filing status. If you aren’t eligible to contribute to a Roth Ira, consider converting your Traditional IRA over and enjoy tax free earnings in the future.
Coverdell Education Savings Accounts (CESA)
Coverdell Education Savings Accounts are a very attractive college savings vehicle for many people. With a CESA you can make non-deductible contributions to a specially designated investment trust account. The account grows federal tax free and when used for qualified higher education expenses, withdrawals are also tax free. If funds are used for something other than qualified education expenses, then there is a 10% penalty and income tax must be paid on the earnings.
CESAs allow anyone to deposit up to $2,000 a year for an eligible beneficiary without being taxed on earnings, so long as their modified adjusted gross income falls within the allowable limits. Contributions can come from family, friends, neighbors and even corporations. The eligible beneficiary must be under age 18 at the time of deposit and must use the funds before age 30. If the funds are not withdrawn before the beneficiary reaches age 30, a portion of the earnings on the account will be taxable and subject to an additional 10% tax. These taxes may be avoided by rolling the account over for another family member. The age 18 and age 30 limitations are waived in special needs cases. Beneficiaries of CESAs should receive a form that shows the amount contributed during the year. If the amount reported exceeds the $2,000 limit, corrective action should be taken as soon as possible in order to avoid a 6% excise tax.
As mentioned earlier, some of these savings options can have an adverse impact on the beneficiary’s eligibility for financial aid. CESAs are treated as an asset of the account holder. If the account holder is a student, this could have a high impact on eligibility; however, if the account is owned by a dependent student, it is considered an asset of the parent for financial aid purposes. If the account is owned by the parent, there is a low impact on financial aid regardless. Also, qualified distributions from a CESA are not counted as income on the FASFA and therefore do not reduce eligibility.
529 Plans
A 529 Plan is an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs. The state sets up the plan with an asset management company of its choice and you open an account with that asset management company according to the state’s predetermined plan features. Every state now has at least one 529 Plan available, and it is up to each state to determine what its plan will look like. Fortunately, you are not restricted to your state’s 529 Plan. You can live in Vermont, choose a plan from Iowa and go to school in California. It pays to research a variety of plans being offered to ensure that you choose the one best suited to your needs.
The benefits of a 529 Plan are similar to those of a CESA. You pay no federal taxes on the accounts earnings provided that when they are withdrawn they are used for qualified education expenses. In most states, earnings are also tax deferred. As with a CESA, 529 Plans should be reported as a parental assent when owned by a dependent student. Anyone can contribute, but unlike a CESA there are no income limitations that might make you ineligible. There is also no age limit for when money has to be used. If the beneficiary chooses not to attend college, the account can be rolled over to another family member. If the beneficiary ends up getting a scholarship, any unused money can be withdrawn without paying a penalty, just the taxes. Perhaps the greatest difference between a CESA and a 529 Plan is who has control of the account. With a CESA, the beneficiary typically gains control of the account at age 18. However, with a 529 Plan, you retain control of the account.
There are two types of 529 plans. The first is a prepaid tuition plan that is state sponsored and has residency requirements. This option allows you to lock in tuition prices at eligible colleges and universities, which provides a hedge against tuition inflation. All prepaid plans cover tuition and mandatory fees, though some allow you to purchase a room and board option or use excess tuition credits for other qualified expenses. The second type of 529 Plan available is the college savings plan. While this option doesn’t allow you to lock in college costs at today’s rate, it can be more appealing due to its high flexibility. There are no age or residency restrictions and no contribution limits. All investment options come with risks; however there are age based portfolios available that automatically shift towards more conservative investments as the beneficiary moves closer to college age which reduces the risk.
You can find more information regarding specific plans in their offering circular, or disclosure statement. The National Association of State Treasurers created the College Savings Plan Network which provides links to most 529 plan websites.
Planning for education expenses is no small task. Your tax professional can give you more detailed information about the options discussed here. It is important to ask questions so you can be as informed as possible when moving forward. Naturally, the earlier you begin saving for college, the more money you will accrue. All of these options will have some impact on financial aid, so be sure to take everything into consideration.
For more information about Elite Bookkeeping & Tax Services visit
http://www.elitebookkeeping.biz
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Elite Bookkeeping & Tax Services
Planning for educational expenses can be challenging when there are so many options out there for your clients to choose from. The following information outlines some of the choices available to them and explains the tax benefits associated with these options. Together you can use this newsletter to review options and potentially come up with a feasible plan for managing educational expenses.
Planning for educational expenses is no easy task. It’s hard to know how much to set aside or where to invest it. Here is a brief summary of some of the options available to you and the tax benefits associated with these options. This is by no means an exhaustive list; however it should provide you with a general knowledge with which to move forward. If after reading this you find that you have questions or would like to discuss any of the information in more depth, please give me a call.
College Facts
Before we explore the different options available for paying and saving for college, let’s first look at what going to college costs. The following information refers to the 2010-2011 school year. Keep in mind that tuition and fees at public four year colleges and universities has gone up an average of 5.6% per year beyond the rate of general inflation.
Public 2 yr: $2,713, R&B negligible
Public 4 yr, In-state: $7,605, R&B $8,535
Public 4 yr, Out of state: $19,595, R&B $8,535
Private 4 yr. Nonprofit: $27,293, R&B $9,700
Private 4 yr. For profit: $13,935, R&B neglible
By the time your child or grandchild graduates high school, it’s hard to know what your savings goal should be. There are several websites that offer a calculator that helps you predict how much a higher education will cost. Savingforcollege.com is one such website and it also offers up a wealth of information about paying for college.
Paying for College
There are a lot of ways a college education can be paid for, including both out of pocket expenses and financial aid such as scholarships, grants, loans, fellowships and work study programs. Financial aid is an important thing to keep in mind when planning how to pay for a college education. Colleges calculate student financial aid by calculating the cost of attendance (COA) then subtracting the expected family contribution (EFC). Most colleges use the information obtained from the student’s Free Application for Federal Student Aid (FASFA) form to calculate the EFC.
The formula for this calculation is made up of four parts outlined below:
1. 50% of student’s income (Adjusted Gross Income (AGI) plus untaxed income and benefits, less income protection allowance, less deductions for certain taxes)
2. 20% of certain student’s assets
3. 22-27% of parents income (AGI plus untaxed income and benefits, less income protection allowance, less deductions for certain taxes, less employment expense)
4. 2.6-5.6% of certain parent’s assets less asset protection allowance.
It’s important to remember that tax savings are often dwarfed by potential financial aid awards. Shifting assets into your child or grandchild’s name now in order to shift the tax burden of the income may later reduce their financial aid eligibility. Be sure to discuss the future impact of any tax saving transactions with your tax professional to help reduce the potentially negative impact on financial aid.
Saving for College
There are several ways to invest and save specifically for the expense of college. Having a working understanding of your options will help you to decide which is best for your needs and circumstance. Here are four options to consider. The tax benefits of the following options come from using the funds for qualified higher education expenses. In each case it is important to remember to reduce the qualified higher education expenses by tax exempt educational benefits such as the American Opportunity Tax Credit, the Lifetime Learning Credit, QTP payments or reimbursements, Coverdell Education Savings Account payments, VA benefits, grants, scholarships and fellowships.
Education Savings Bonds
Savings bonds have long been given to a child or grandchild as an investment in that child’s future. They are a very safe investment with a low to moderate return. The interest earned on the savings bond is tax free if the bond proceeds (principal plus interest) are used to pay for qualified higher education expenses. If you elect to exclude the interest on your tax return, it must be done in the year you redeem the savings bond.
Traditional and Roth IRA’s
IRA’s are usually thought of as a way to save for retirement because there is typically a 10% penalty for funds withdrawn before age 59 ½. However, they should not be overlooked when considering saving for education. With a traditional IRA, your contributions can be tax deductible and can grow tax deferred. With a Roth IRA, your contributions aren’t deductible, but they do have the potential to grow tax free. With either option, you can contribute 100% of your earned income up to the annual contribution limit ($5,000 or $6,000 for 50 and older). With a traditional IRA, if you and/or your spouse have earned income and you are filing jointly, you are eligible to make contributions until the year you reach 70 ½ years old. There is no age limit with a Roth IRA, however your modified adjusted gross income must fall within certain limits depending on your filing status. If you aren’t eligible to contribute to a Roth Ira, consider converting your Traditional IRA over and enjoy tax free earnings in the future.
Coverdell Education Savings Accounts (CESA)
Coverdell Education Savings Accounts are a very attractive college savings vehicle for many people. With a CESA you can make non-deductible contributions to a specially designated investment trust account. The account grows federal tax free and when used for qualified higher education expenses, withdrawals are also tax free. If funds are used for something other than qualified education expenses, then there is a 10% penalty and income tax must be paid on the earnings.
CESAs allow anyone to deposit up to $2,000 a year for an eligible beneficiary without being taxed on earnings, so long as their modified adjusted gross income falls within the allowable limits. Contributions can come from family, friends, neighbors and even corporations. The eligible beneficiary must be under age 18 at the time of deposit and must use the funds before age 30. If the funds are not withdrawn before the beneficiary reaches age 30, a portion of the earnings on the account will be taxable and subject to an additional 10% tax. These taxes may be avoided by rolling the account over for another family member. The age 18 and age 30 limitations are waived in special needs cases. Beneficiaries of CESAs should receive a form that shows the amount contributed during the year. If the amount reported exceeds the $2,000 limit, corrective action should be taken as soon as possible in order to avoid a 6% excise tax.
As mentioned earlier, some of these savings options can have an adverse impact on the beneficiary’s eligibility for financial aid. CESAs are treated as an asset of the account holder. If the account holder is a student, this could have a high impact on eligibility; however, if the account is owned by a dependent student, it is considered an asset of the parent for financial aid purposes. If the account is owned by the parent, there is a low impact on financial aid regardless. Also, qualified distributions from a CESA are not counted as income on the FASFA and therefore do not reduce eligibility.
529 Plans
A 529 Plan is an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs. The state sets up the plan with an asset management company of its choice and you open an account with that asset management company according to the state’s predetermined plan features. Every state now has at least one 529 Plan available, and it is up to each state to determine what its plan will look like. Fortunately, you are not restricted to your state’s 529 Plan. You can live in Vermont, choose a plan from Iowa and go to school in California. It pays to research a variety of plans being offered to ensure that you choose the one best suited to your needs.
The benefits of a 529 Plan are similar to those of a CESA. You pay no federal taxes on the accounts earnings provided that when they are withdrawn they are used for qualified education expenses. In most states, earnings are also tax deferred. As with a CESA, 529 Plans should be reported as a parental assent when owned by a dependent student. Anyone can contribute, but unlike a CESA there are no income limitations that might make you ineligible. There is also no age limit for when money has to be used. If the beneficiary chooses not to attend college, the account can be rolled over to another family member. If the beneficiary ends up getting a scholarship, any unused money can be withdrawn without paying a penalty, just the taxes. Perhaps the greatest difference between a CESA and a 529 Plan is who has control of the account. With a CESA, the beneficiary typically gains control of the account at age 18. However, with a 529 Plan, you retain control of the account.
There are two types of 529 plans. The first is a prepaid tuition plan that is state sponsored and has residency requirements. This option allows you to lock in tuition prices at eligible colleges and universities, which provides a hedge against tuition inflation. All prepaid plans cover tuition and mandatory fees, though some allow you to purchase a room and board option or use excess tuition credits for other qualified expenses. The second type of 529 Plan available is the college savings plan. While this option doesn’t allow you to lock in college costs at today’s rate, it can be more appealing due to its high flexibility. There are no age or residency restrictions and no contribution limits. All investment options come with risks; however there are age based portfolios available that automatically shift towards more conservative investments as the beneficiary moves closer to college age which reduces the risk.
You can find more information regarding specific plans in their offering circular, or disclosure statement. The National Association of State Treasurers created the College Savings Plan Network which provides links to most 529 plan websites.
Planning for education expenses is no small task. Your tax professional can give you more detailed information about the options discussed here. It is important to ask questions so you can be as informed as possible when moving forward. Naturally, the earlier you begin saving for college, the more money you will accrue. All of these options will have some impact on financial aid, so be sure to take everything into consideration.
For more information about Elite Bookkeeping & Tax Services visit
http://www.elitebookkeeping.biz
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Jul 29, 2011
How Alive Chat™ Helps You
Contributed by Jillian Pearson, Pres.
Site Noticed, Inc.
One of the coolest companies I’ve seen this year is called WebSiteAlive.com. Adding a “Chat with us NOW” on your website greatly increases your ability to reach millions of visitors on your website with immediate satisfaction for the consumer.
Studies show most website visitors just want a quick answer from you. They are more likely to stay on your site when they know someone is there in real time answering their questions whether those questions are quick and small or very complex.
Read more>>
For more information visit http://www.sitenoticed.com
Follow us on Twitter at @sitenoticed
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Site Noticed, Inc.
One of the coolest companies I’ve seen this year is called WebSiteAlive.com. Adding a “Chat with us NOW” on your website greatly increases your ability to reach millions of visitors on your website with immediate satisfaction for the consumer.
Studies show most website visitors just want a quick answer from you. They are more likely to stay on your site when they know someone is there in real time answering their questions whether those questions are quick and small or very complex.
Read more>>
For more information visit http://www.sitenoticed.com
Follow us on Twitter at @sitenoticed
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Jul 23, 2011
Sandoval takes spin in driverless car | NevadaAppeal.com
Sandoval takes spin in driverless car
Brian Sandoval became the first Governor in the nation to enjoy a ride in a computer driven Toyota Prius that is being tested by Google Inc.
He was quoted as saying “I think it's important for Nevada to be first on this. This is going to be part of the future, and Nevada has always been a very progressive state.”
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Brian Sandoval became the first Governor in the nation to enjoy a ride in a computer driven Toyota Prius that is being tested by Google Inc.
He was quoted as saying “I think it's important for Nevada to be first on this. This is going to be part of the future, and Nevada has always been a very progressive state.”
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Jul 6, 2011
Bookkeeping, Tax Services and Training
Do you need help with bookkeeping or tax services? Elite Bookkeeping & Tax Services is ready to help you whether you're just starting out or looking to expand.
We offer one-on-one training to help you properly set up your corporate books. With our class we offer set up, training and the software for one low price.
Give us a call today toll free at (800)416-3820 and ask for Robyn or Sara.
Visit our web site at http://www.elitebookkeeping.biz
Follow us on Twitter @elitebookkeepg
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Think Like an Innovator - Video - Harvard Business Review
Think Like an Innovator - Video - Harvard Business Review
Are you perhaps thinking you need to make some changes at work? This video has some good examples of innovative ideas.
Be sure to have your employees watch this as well.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Are you perhaps thinking you need to make some changes at work? This video has some good examples of innovative ideas.
Be sure to have your employees watch this as well.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Jun 29, 2011
New Tax Rules For 2011
Contributed by Sara Zaro, President
Elite Bookkeeping & Tax Services
In order to keep you informed of what’s new in the tax rules, here is a summary of key points you need to know for 2011. These key changes have been broken down into three categories: Personal Income Taxes, Personal and Business Retirement Changes, and Tax Changes for Businesses. This is not an exhaustive list. The intent here is to briefly explain the changes; especially the ones that can potentially benefit you. At the end, you’ll also find some additional tips to help you prepare and plan for the 2011 tax year. If after reading this information you think that a financial and tax planning review may be something you are interested in, or if you have any questions, please give me a call. The really significant methods to reduce your tax liability require not only planning ahead, but the expert guidance of a licensed tax practitioner.
Tax Savings opportunities to take advantage of as you plan for the current tax year:
Income Tax Provisions
These provisions were created or extended as a result of the Tax Relief Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the "2010 Tax Act")
• Maintaining long term capital gains and dividend tax rate at 15%
• If you have appreciated stock positions, you might consider liquidating the stock in order to recognize the capital gain at the current preferential rate of 15%.
• If you've avoided paying dividends to avoid paying income tax on the distribution, you should consider declaring and paying a dividend to take advantage of the reduced income tax rate of 15%.
• Allowing 100% bonus depreciation allowance for equipment placed in service between September 8, 2010 and December 31, 2011
• This includes buildings, machinery, vehicles, and furniture as well as intangible property such as patents, copyrights and computer software.
• Permits a Section 179 deduction for property placed in service up to $500,000
• Be aware of availability of bonus depreciation and Sec 179 deductions to place equipment in service-or upgrade computers and software during 2011.
• Permitting taxpayers to elect through 2011 to deduct State and local sales taxes in lieu of State and local income taxes
Personal Income Taxes
Payroll Tax Holiday
Employees will only pay 4.2% OASDI (Social Security) tax on compensation received during 2011, rather than the 6.2%, up to $106,800 which is the wage base for 2011. Beginning in 2011, self-employed persons will pay only 10.4% Social Security self-employment taxes on self-employment income up to the wage base for 2011 ($106,800). In both cases, the maximum savings for 2011 will be $2,136 (2% of the wage base) per taxpayer. If both spouses earn at least as much as the wage base, the maximum savings will be $4,272.
"Green” Upgrades
The majority of tax credits for energy efficiency home improvements expired at the end of 2010. However, you can still get the 30% credit (no cap) on larger “green” home improvements such as installing solar panels, wind turbines or geothermal power. The new tax credit for energy efficient home improvements has caps on specific items, as well as caps your tax credits, on small improvements like insulation, energy efficient windows, and HVAC, to $500 for your lifetime.
Health Plan Reimbursements
Beginning this year, over the counter medications cannot be reimbursed with excludible income through a health flexible spending arrangement (FSA), health reimbursement account (HRA), health savings account (HSA), or Archer MSA (medical savings account) unless the medicine is prescribed by a doctor or is insulin. This new rule applies to amounts paid after 2010, however it does not apply to amounts paid in 2011 for medications or drugs bought prior to Jan 1 2011. Additionally, for distributions after 2010, the additional tax on distributions from an HSA that are not used for qualified medical expenses increases from 10% to 20% of the disbursed amount. Archer MSA increases from 15% to 20% of the disbursed amount.
Personal and Business Retirement Changes
Retirement Plans
Income limitations on the ability to convert a traditional IRA to a Roth IRA have been eliminated. Therefore any taxpayer may choose to convert from IRA to Roth IRA. Qualified distributions from Roth IRA are not included in gross taxable income and there are no minimum distributions from Roth IRA. Contributions to Roth IRA ARE NOT deductible and the value of the traditional IRA account that is converted IS included in taxpayer's taxable income in such year and subject to current income tax rates.
Despite the resulting tax liability, this conversion may be worth considering if you’re working under the assumption that income tax rates will increase in the future. By converting to a Roth IRA, it's possible to "lock in" a lower effective tax rate. Also, converting a portion of IRA to Roth IRA, a taxpayer has “diversified” their IRA assets by presenting the opportunity to take distributions from a Roth IRA which are not subject to income tax. This minimizes the overall income tax in a given (future) tax year.
Through the end of 2011, a taxpayer over 701/2 years old may direct distribution of up to 100k from their IRA to a qualified public charity; this amount will count toward the taxpayer’s required minimum distribution, but is excluded from the taxpayer’s taxable income. Taxpayers will not receive a charitable deduction for the donation, however the exclusion of the distribution from taxable income provides a greater income tax benefit.
After December 31, 2010, small employers may provide employees with a "simple cafeteria plan." An employer that uses this kind of plan gets safe harbor from the nondiscrimination requirements for cafeteria plans as well as from the requirements for certain types for qualified benefits offered under a cafeteria plan, including group term life insurance, benefits under a self-insured medical expense reimbursement plan, and benefits under a dependent care assistance program.
Tax Changes for Businesses
Built in Gain Tax
C corporations that elect to be taxed as an S corporation may be subject to tax on the sale of appreciated assets owned at the time the S election is made - the “built in gain tax." This tax is imposed upon the sale of an asset within a certain period of time after S election-generally 10 years. However, in 2011, this period is reduced to 5 years. For an S corporation with appreciated assets potentially subject to the Built in Gain Tax, if the election was made effective in 2006 or earlier, the appreciated assets could be sold prior to December 31, 2011 without the imposition of Built in Gain Tax. The 10-yr period is scheduled to be effective January 1 2012, so S corporations and their shareholders should consider selling assets that otherwise would be subject to the Built in Gain Tax in 2011.
Up-to-$1000 credit for “retained workers”
Employers may claim a “retention credit” for retaining qualifying new employees (some formerly unemployed workers who meet specific requirements). The amount of the credit is either $1000 or 6.2% of wages, whichever’s less, paid to the retained qualified employee during a 52 consecutive week period. The wages for such employment for the last 26 weeks must be at least 80% of the wages earned in the first 26 weeks. This credit may be claimed for a qualified retained worker for the first tax year ending after March 18, 2010, assuming the retained employee satisfies the 52 consecutive week requirement. Just a reminder, this credit only applies to qualifying employees hired after February 3, 2010 and before January 1, 2011.
There are a lot of tax changes coming your way and likely your business is experiencing some unusual ups and downs. Here are some additional tips to get your tax planning for 2011 off to the right start:
• Get your 2011 bookkeeping caught up as soon as possible with projections for the year. Is your income going up, down or staying the same?
• Check for state nexus issues. Are there are other states you now need to plan for?
• What new projects or investments are coming up that may change your current strategy?
• Review your income projections, state nexus changes and tax law changes with your EA at a minimum three times: Now, September (creating your year-end planning) and December.
There are also some tax breaks that you should be thinking about this year, and every year. Plan for deductions, such as mortgage interest and points paid on refinancing. Keep receipts and documentation of goods and money donated to charity. You can even get a mileage deduction when you travel on behalf of working for charity, so note this information. Other tax breaks include those related to your home office and home business. Think about what you might spend your money on this year, and then prepare yourself to properly document it so that you can minimize your tax liability.
For more information contact Elite Bookkeeping & Tax Services at
(800)416-3820.
Visit our web site at http://www.elitebookkeeping.biz
Follow us on Twitter at @elitebookkeepg
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Elite Bookkeeping & Tax Services
In order to keep you informed of what’s new in the tax rules, here is a summary of key points you need to know for 2011. These key changes have been broken down into three categories: Personal Income Taxes, Personal and Business Retirement Changes, and Tax Changes for Businesses. This is not an exhaustive list. The intent here is to briefly explain the changes; especially the ones that can potentially benefit you. At the end, you’ll also find some additional tips to help you prepare and plan for the 2011 tax year. If after reading this information you think that a financial and tax planning review may be something you are interested in, or if you have any questions, please give me a call. The really significant methods to reduce your tax liability require not only planning ahead, but the expert guidance of a licensed tax practitioner.
Tax Savings opportunities to take advantage of as you plan for the current tax year:
Income Tax Provisions
These provisions were created or extended as a result of the Tax Relief Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the "2010 Tax Act")
• Maintaining long term capital gains and dividend tax rate at 15%
• If you have appreciated stock positions, you might consider liquidating the stock in order to recognize the capital gain at the current preferential rate of 15%.
• If you've avoided paying dividends to avoid paying income tax on the distribution, you should consider declaring and paying a dividend to take advantage of the reduced income tax rate of 15%.
• Allowing 100% bonus depreciation allowance for equipment placed in service between September 8, 2010 and December 31, 2011
• This includes buildings, machinery, vehicles, and furniture as well as intangible property such as patents, copyrights and computer software.
• Permits a Section 179 deduction for property placed in service up to $500,000
• Be aware of availability of bonus depreciation and Sec 179 deductions to place equipment in service-or upgrade computers and software during 2011.
• Permitting taxpayers to elect through 2011 to deduct State and local sales taxes in lieu of State and local income taxes
Personal Income Taxes
Payroll Tax Holiday
Employees will only pay 4.2% OASDI (Social Security) tax on compensation received during 2011, rather than the 6.2%, up to $106,800 which is the wage base for 2011. Beginning in 2011, self-employed persons will pay only 10.4% Social Security self-employment taxes on self-employment income up to the wage base for 2011 ($106,800). In both cases, the maximum savings for 2011 will be $2,136 (2% of the wage base) per taxpayer. If both spouses earn at least as much as the wage base, the maximum savings will be $4,272.
"Green” Upgrades
The majority of tax credits for energy efficiency home improvements expired at the end of 2010. However, you can still get the 30% credit (no cap) on larger “green” home improvements such as installing solar panels, wind turbines or geothermal power. The new tax credit for energy efficient home improvements has caps on specific items, as well as caps your tax credits, on small improvements like insulation, energy efficient windows, and HVAC, to $500 for your lifetime.
Health Plan Reimbursements
Beginning this year, over the counter medications cannot be reimbursed with excludible income through a health flexible spending arrangement (FSA), health reimbursement account (HRA), health savings account (HSA), or Archer MSA (medical savings account) unless the medicine is prescribed by a doctor or is insulin. This new rule applies to amounts paid after 2010, however it does not apply to amounts paid in 2011 for medications or drugs bought prior to Jan 1 2011. Additionally, for distributions after 2010, the additional tax on distributions from an HSA that are not used for qualified medical expenses increases from 10% to 20% of the disbursed amount. Archer MSA increases from 15% to 20% of the disbursed amount.
Personal and Business Retirement Changes
Retirement Plans
Income limitations on the ability to convert a traditional IRA to a Roth IRA have been eliminated. Therefore any taxpayer may choose to convert from IRA to Roth IRA. Qualified distributions from Roth IRA are not included in gross taxable income and there are no minimum distributions from Roth IRA. Contributions to Roth IRA ARE NOT deductible and the value of the traditional IRA account that is converted IS included in taxpayer's taxable income in such year and subject to current income tax rates.
Despite the resulting tax liability, this conversion may be worth considering if you’re working under the assumption that income tax rates will increase in the future. By converting to a Roth IRA, it's possible to "lock in" a lower effective tax rate. Also, converting a portion of IRA to Roth IRA, a taxpayer has “diversified” their IRA assets by presenting the opportunity to take distributions from a Roth IRA which are not subject to income tax. This minimizes the overall income tax in a given (future) tax year.
Through the end of 2011, a taxpayer over 701/2 years old may direct distribution of up to 100k from their IRA to a qualified public charity; this amount will count toward the taxpayer’s required minimum distribution, but is excluded from the taxpayer’s taxable income. Taxpayers will not receive a charitable deduction for the donation, however the exclusion of the distribution from taxable income provides a greater income tax benefit.
After December 31, 2010, small employers may provide employees with a "simple cafeteria plan." An employer that uses this kind of plan gets safe harbor from the nondiscrimination requirements for cafeteria plans as well as from the requirements for certain types for qualified benefits offered under a cafeteria plan, including group term life insurance, benefits under a self-insured medical expense reimbursement plan, and benefits under a dependent care assistance program.
Tax Changes for Businesses
Built in Gain Tax
C corporations that elect to be taxed as an S corporation may be subject to tax on the sale of appreciated assets owned at the time the S election is made - the “built in gain tax." This tax is imposed upon the sale of an asset within a certain period of time after S election-generally 10 years. However, in 2011, this period is reduced to 5 years. For an S corporation with appreciated assets potentially subject to the Built in Gain Tax, if the election was made effective in 2006 or earlier, the appreciated assets could be sold prior to December 31, 2011 without the imposition of Built in Gain Tax. The 10-yr period is scheduled to be effective January 1 2012, so S corporations and their shareholders should consider selling assets that otherwise would be subject to the Built in Gain Tax in 2011.
Up-to-$1000 credit for “retained workers”
Employers may claim a “retention credit” for retaining qualifying new employees (some formerly unemployed workers who meet specific requirements). The amount of the credit is either $1000 or 6.2% of wages, whichever’s less, paid to the retained qualified employee during a 52 consecutive week period. The wages for such employment for the last 26 weeks must be at least 80% of the wages earned in the first 26 weeks. This credit may be claimed for a qualified retained worker for the first tax year ending after March 18, 2010, assuming the retained employee satisfies the 52 consecutive week requirement. Just a reminder, this credit only applies to qualifying employees hired after February 3, 2010 and before January 1, 2011.
There are a lot of tax changes coming your way and likely your business is experiencing some unusual ups and downs. Here are some additional tips to get your tax planning for 2011 off to the right start:
• Get your 2011 bookkeeping caught up as soon as possible with projections for the year. Is your income going up, down or staying the same?
• Check for state nexus issues. Are there are other states you now need to plan for?
• What new projects or investments are coming up that may change your current strategy?
• Review your income projections, state nexus changes and tax law changes with your EA at a minimum three times: Now, September (creating your year-end planning) and December.
There are also some tax breaks that you should be thinking about this year, and every year. Plan for deductions, such as mortgage interest and points paid on refinancing. Keep receipts and documentation of goods and money donated to charity. You can even get a mileage deduction when you travel on behalf of working for charity, so note this information. Other tax breaks include those related to your home office and home business. Think about what you might spend your money on this year, and then prepare yourself to properly document it so that you can minimize your tax liability.
For more information contact Elite Bookkeeping & Tax Services at
(800)416-3820.
Visit our web site at http://www.elitebookkeeping.biz
Follow us on Twitter at @elitebookkeepg
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Jun 28, 2011
Expanding Your Business With A Virtual Office
With the downturn in the economy we've certainly seen our share of businesses come and go across the U.S. As of late there has been a surge in new businesses opening up due to several factors.
Many people who have been unable to find work are going out on their own. Others figure "Why work for $12 an hour with my college degree to line someone else's pocket when I can start my own business and reep the benefits myself?"
People are realizing they have to work even smarter than ever and they have to take their financial future into their own hands. You may want to start and grow your business, but perhaps working out of your home won't get you where you want or need to be after the first six months. That's where a Virtual office or even an Executive Suite can help.
Many Fortune 500 companies have utilized Virtual Offices or Executive Suites when they started out and many continue to do so. You've no doubt heard the expression "OPM-use other people's money", well another expression in business is "OPS- use other people's staff" as a means to a competitive edge.
For example, how much would it cost to hire a full time receptionist who can answer questions to callers about your business or products? What if you utilized a Virtual Office even on a temporary basis that had a receptionist? You could potentially grow your business at a faster rate than trying to do it completely on your own. This is also a great tool for setting up operations in another state.
We're not suggesting that you don't hire any staff at some point. Once you get to the next phase of growth, by all means hire a full time receptionist or additional sales persons. It's simply another option available for you to help you work at growing your business.
Let's do a hypothetical comparison: Consider what it would cost to hire a full time receptionist, rent an office, pay for phone service, office equipment, phone, etc. Likely it would be over $2000 a month. For 10% of that cost you can have a Virtual Office with a receptionist, shared equipment, use of a conference room, mail forwarding and more. In this example that gives you an $1800 per month savings to use for marketing, advertising, equipment or what have you to really get your business up and running.
Here at Pinnacle Executive Suites you also have the benefit of utilizing services and expertise of the Business Achievement Center Strategic Partners who work with businesses from start-up to taking them public.
For more information about Virtual Office Services or our Executive Suites, call us at (775)884-6123.
Visit our web site at http://www.pinnacleexecutivesuites.com
Follow us on Twitter at @pinnaclesuites
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Many people who have been unable to find work are going out on their own. Others figure "Why work for $12 an hour with my college degree to line someone else's pocket when I can start my own business and reep the benefits myself?"
People are realizing they have to work even smarter than ever and they have to take their financial future into their own hands. You may want to start and grow your business, but perhaps working out of your home won't get you where you want or need to be after the first six months. That's where a Virtual office or even an Executive Suite can help.
Many Fortune 500 companies have utilized Virtual Offices or Executive Suites when they started out and many continue to do so. You've no doubt heard the expression "OPM-use other people's money", well another expression in business is "OPS- use other people's staff" as a means to a competitive edge.
For example, how much would it cost to hire a full time receptionist who can answer questions to callers about your business or products? What if you utilized a Virtual Office even on a temporary basis that had a receptionist? You could potentially grow your business at a faster rate than trying to do it completely on your own. This is also a great tool for setting up operations in another state.
We're not suggesting that you don't hire any staff at some point. Once you get to the next phase of growth, by all means hire a full time receptionist or additional sales persons. It's simply another option available for you to help you work at growing your business.
Let's do a hypothetical comparison: Consider what it would cost to hire a full time receptionist, rent an office, pay for phone service, office equipment, phone, etc. Likely it would be over $2000 a month. For 10% of that cost you can have a Virtual Office with a receptionist, shared equipment, use of a conference room, mail forwarding and more. In this example that gives you an $1800 per month savings to use for marketing, advertising, equipment or what have you to really get your business up and running.
Here at Pinnacle Executive Suites you also have the benefit of utilizing services and expertise of the Business Achievement Center Strategic Partners who work with businesses from start-up to taking them public.
For more information about Virtual Office Services or our Executive Suites, call us at (775)884-6123.
Visit our web site at http://www.pinnacleexecutivesuites.com
Follow us on Twitter at @pinnaclesuites
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Jun 27, 2011
The Business Plan: Not Just a Blueprint
Business planning is a vital component of starting and growing a successful enterprise. Many different templates and variations of business plans exist, so you must choose the right one for your purpose and your enterprise.
Who is the intended audience?
Some business plans are designed for internal audiences (owners, employees, Boards of Directors or Advisors, and senior management) for an existing organization for the purposes of implementing a growth strategy and may be referred to as a strategic plan. It can also serve as a guide solely for the owner of a new business to help clarify their vision and goals.
A business plan could also be for external audiences (investors, clients, suppliers, new hires, bankers and other lenders such as government) for the purposes of attracting financing, talent or suppliers for a new or existing business. A document for this audience may initially take the form of a condensed version of the larger business plan, especially for attracting funding. This version is known as the business opportunity document or business funding proposal and is typically followed by the business plan itself. Obtaining financing is a significant issue for many businesses and this tool can be an enormous advantage when approaching investors or lenders.
What goes in the business plan?
The business plan is a comprehensive document that is created to describe the future of the venture, consisting of:
* executive summary
* company history and background
* clear description of the business concept and value proposition
* marketing analysis including competitive analysis and market development plan
* production and operations assessment and development plan
* financial assessment and projections
* management and human resources assessment and plan
* implementation plan
* identification of resources
* proposed deal structure for investors (if appropriate)
* survival strategy describing inherent risks and mitigation strategies
* growth strategy
* exit strategy
* appendices
Some of these may be longer or shorter, or even optional, depending on the format and the intended audience.
The reader should be able to clearly understand what the value proposition is, why the business will succeed and how it is going to achieve this success. If the plan is being pitched to investors, the investor should understand as soon as possible what the proposed deal structure is and what the return will be. To do this you must support any claims and assumptions about what the business will do with realistic research.
Do you need help drafting a Business Plan? Call us today at
(775)884-6116.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Who is the intended audience?
Some business plans are designed for internal audiences (owners, employees, Boards of Directors or Advisors, and senior management) for an existing organization for the purposes of implementing a growth strategy and may be referred to as a strategic plan. It can also serve as a guide solely for the owner of a new business to help clarify their vision and goals.
A business plan could also be for external audiences (investors, clients, suppliers, new hires, bankers and other lenders such as government) for the purposes of attracting financing, talent or suppliers for a new or existing business. A document for this audience may initially take the form of a condensed version of the larger business plan, especially for attracting funding. This version is known as the business opportunity document or business funding proposal and is typically followed by the business plan itself. Obtaining financing is a significant issue for many businesses and this tool can be an enormous advantage when approaching investors or lenders.
What goes in the business plan?
The business plan is a comprehensive document that is created to describe the future of the venture, consisting of:
* executive summary
* company history and background
* clear description of the business concept and value proposition
* marketing analysis including competitive analysis and market development plan
* production and operations assessment and development plan
* financial assessment and projections
* management and human resources assessment and plan
* implementation plan
* identification of resources
* proposed deal structure for investors (if appropriate)
* survival strategy describing inherent risks and mitigation strategies
* growth strategy
* exit strategy
* appendices
Some of these may be longer or shorter, or even optional, depending on the format and the intended audience.
The reader should be able to clearly understand what the value proposition is, why the business will succeed and how it is going to achieve this success. If the plan is being pitched to investors, the investor should understand as soon as possible what the proposed deal structure is and what the return will be. To do this you must support any claims and assumptions about what the business will do with realistic research.
Do you need help drafting a Business Plan? Call us today at
(775)884-6116.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Jun 25, 2011
Safeguarding Tax and Financial Records
The IRS published a newswire some time ago urging people to safeguard their records.
Actually whether or not you live in a hurricane area, there are many things that can happen to destroy important records. We all think about big natural disasters such as hurricanes, tornados, earthquakes, etc. But there are other disasters that can affect anyone no matter where you live. They include such things as fires, flooded basements, theft, accidentally throwing things away, etc.
If you happen to get audited, the IRS doesn't particularly care why you no longer have your records and they will go off the records they can gather. The IRS can provide you with W-2 information, income from interest, dividends, stock sales, 1099 information, interest paid on government student loans, and how much mortgage interest you paid to a financial institution. They don't have records of business deductions, donations, dependents, alimony paid, daycare expenses, medical expenses, etc.
There are several ways you can choose to keep your records safe.
1. Paperless Record keeping: With the wide use of computers, internet bank records, W-2 forms, and other documents can easily be downloaded to your computer. Other documents can be scanned in. This can then be saved onto a USB drive as a back up which can be store in a safety deposit box and/or sent to a relative in another city.
2. CD or DVD: Records can be scanned into the computer and burned onto a CD or DVD. Several copies can be made inexpensively and stored in several places.
3. Record Keeping Companies: There are companies that will copy and keep your records in their vaults so that in the case of a disaster they can provide you with a copy.
4. Protective Boxes and Safes: You can purchase fire proof and water proof boxes and small safes to keep valuable records in. They can work well if you don't live in a place were place where a natural disaster will likely take down the entire house.
For more information contact Elite Bookkeeping & Tax Services Toll Free (800)416-3820 or visit our web site at http://www.elitebookkeeping.biz
Follow us on Twitter at @elitebookkeepg
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Actually whether or not you live in a hurricane area, there are many things that can happen to destroy important records. We all think about big natural disasters such as hurricanes, tornados, earthquakes, etc. But there are other disasters that can affect anyone no matter where you live. They include such things as fires, flooded basements, theft, accidentally throwing things away, etc.
If you happen to get audited, the IRS doesn't particularly care why you no longer have your records and they will go off the records they can gather. The IRS can provide you with W-2 information, income from interest, dividends, stock sales, 1099 information, interest paid on government student loans, and how much mortgage interest you paid to a financial institution. They don't have records of business deductions, donations, dependents, alimony paid, daycare expenses, medical expenses, etc.
There are several ways you can choose to keep your records safe.
1. Paperless Record keeping: With the wide use of computers, internet bank records, W-2 forms, and other documents can easily be downloaded to your computer. Other documents can be scanned in. This can then be saved onto a USB drive as a back up which can be store in a safety deposit box and/or sent to a relative in another city.
2. CD or DVD: Records can be scanned into the computer and burned onto a CD or DVD. Several copies can be made inexpensively and stored in several places.
3. Record Keeping Companies: There are companies that will copy and keep your records in their vaults so that in the case of a disaster they can provide you with a copy.
4. Protective Boxes and Safes: You can purchase fire proof and water proof boxes and small safes to keep valuable records in. They can work well if you don't live in a place were place where a natural disaster will likely take down the entire house.
For more information contact Elite Bookkeeping & Tax Services Toll Free (800)416-3820 or visit our web site at http://www.elitebookkeeping.biz
Follow us on Twitter at @elitebookkeepg
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Why Incorporate
Because of the length of time corporations have been in existence, there is a long record of statutory and case law which supports the use of a corporation for asset protection.
Consequently, corporations are traditionally considered for use as the “First Line of Defense” to accomplish the goal of limited liability.
Following are some important attributes and advantages to a corporation which allow it to be used for limited liability as well as other purposes.
•The corporation is a totally separate entity from any individual- it is not you, and you are not it. This is important to remember in maintaining the limited liability protection. It must be treated as a separate individual
•A corporation can buy, sell, trade, own property, own stock, make loans, etc. and anything else that an individual can do; such actions are governed by the Board of Directors
•The shareholders of the corporation do not have to live in the state in which the corporation is domiciled. Fortunately, here in Nevada, neither do the Officers or Directors
•Corporations have perpetual existence- if a Director or Officer becomes deceased, the corporation will still exist, unlike with some other entities
•There are many tax deductions available to corporations, which are not available to other entities
•It is easy to transfer assets and ownership of a corporation
•Centralized management allows ease of doing business
•Full fringe benefits can be established through a corporation
•A corporation has all of the rights of an individual except for the Fifth Amendment
Please be advised that we are not engaged in rendering legal counsel or accounting services. If legal advise, or other such services and assistance is required, the services of a professional person in that area should be sought. At your request, however, we may consult with you and render our opinion based on our business experience.
American Corporate Enterprises, Inc. works with and provides services to Attorneys, CPAs, Financial Consultants, etc. in order to meet the needs of our clients. We would be happy to refer you to such a professional at your request.
For more information visit http://www.americancorpenterprises.com
Follow us on Twitter at @americancorpent
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Consequently, corporations are traditionally considered for use as the “First Line of Defense” to accomplish the goal of limited liability.
Following are some important attributes and advantages to a corporation which allow it to be used for limited liability as well as other purposes.
•The corporation is a totally separate entity from any individual- it is not you, and you are not it. This is important to remember in maintaining the limited liability protection. It must be treated as a separate individual
•A corporation can buy, sell, trade, own property, own stock, make loans, etc. and anything else that an individual can do; such actions are governed by the Board of Directors
•The shareholders of the corporation do not have to live in the state in which the corporation is domiciled. Fortunately, here in Nevada, neither do the Officers or Directors
•Corporations have perpetual existence- if a Director or Officer becomes deceased, the corporation will still exist, unlike with some other entities
•There are many tax deductions available to corporations, which are not available to other entities
•It is easy to transfer assets and ownership of a corporation
•Centralized management allows ease of doing business
•Full fringe benefits can be established through a corporation
•A corporation has all of the rights of an individual except for the Fifth Amendment
Please be advised that we are not engaged in rendering legal counsel or accounting services. If legal advise, or other such services and assistance is required, the services of a professional person in that area should be sought. At your request, however, we may consult with you and render our opinion based on our business experience.
American Corporate Enterprises, Inc. works with and provides services to Attorneys, CPAs, Financial Consultants, etc. in order to meet the needs of our clients. We would be happy to refer you to such a professional at your request.
For more information visit http://www.americancorpenterprises.com
Follow us on Twitter at @americancorpent
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Jun 24, 2011
Changing Technology
Contributed by Chris Utley, President
Geeks Of Nevada, Inc.
“The only thing that is constant in life is change”. In the technology field, that change often comes more quickly than most people want, but it is necessary to go with that change whether we want to or not.
We recently worked on a system with the Windows 98 on it. My bench technician who has been working in the industry for the last five years needed some coaching on how to drive the 13 year old computer. Our customer had been putting off buying the new machine because he did not want to have to learn a whole new operating system, but I had to let him know that the rest of the world had moved past his machine and there was no choice.
We also had a customer that recently asked us to send them a Microsoft Word® document in the old format because they could not read the new DOCX file extension that Microsoft Word® 2007 and 2010. They had not made the transition to the new suite because of the licensing requirement to run in a terminal server environment, so they simply asked the document author to save the file in the old format. Not a problem…the new software will save the document in a backwards compatible format, but there is another solution.
Microsoft® knew that there were going to be users that would not migrate to the new versions of the software and they didn’t want to leave those users completely out of the loop yet. I am sure there will come a point where the decision is made, that the older software will not be able to read the formats, but there is a solution that those users can use at the current time.
Microsoft® currently offers a free download of the MS Office Compatibility Pack for Word, Excel and PowerPoint file formats, which can be located by click here. This download will install on any Windows based system and run in the background when using any of these programs. When the user attempts to open one of the new formats, the software will automatically convert the document into one of the original formats that can be read by your current software. It will also allow you to go in and edit those documents, but you need to make sure that you save the document in the new format if you would like to go back to it in the future.
For other great solutions on navigating through the world of technology, please contact Geeks of Nevada at 775-841-7118 to develop strategies to achieve your needs.
Visit our web site at http://nevadageek.net
Follow us on Twitter at @nevadageek
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Geeks Of Nevada, Inc.
“The only thing that is constant in life is change”. In the technology field, that change often comes more quickly than most people want, but it is necessary to go with that change whether we want to or not.
We recently worked on a system with the Windows 98 on it. My bench technician who has been working in the industry for the last five years needed some coaching on how to drive the 13 year old computer. Our customer had been putting off buying the new machine because he did not want to have to learn a whole new operating system, but I had to let him know that the rest of the world had moved past his machine and there was no choice.
We also had a customer that recently asked us to send them a Microsoft Word® document in the old format because they could not read the new DOCX file extension that Microsoft Word® 2007 and 2010. They had not made the transition to the new suite because of the licensing requirement to run in a terminal server environment, so they simply asked the document author to save the file in the old format. Not a problem…the new software will save the document in a backwards compatible format, but there is another solution.
Microsoft® knew that there were going to be users that would not migrate to the new versions of the software and they didn’t want to leave those users completely out of the loop yet. I am sure there will come a point where the decision is made, that the older software will not be able to read the formats, but there is a solution that those users can use at the current time.
Microsoft® currently offers a free download of the MS Office Compatibility Pack for Word, Excel and PowerPoint file formats, which can be located by click here. This download will install on any Windows based system and run in the background when using any of these programs. When the user attempts to open one of the new formats, the software will automatically convert the document into one of the original formats that can be read by your current software. It will also allow you to go in and edit those documents, but you need to make sure that you save the document in the new format if you would like to go back to it in the future.
For other great solutions on navigating through the world of technology, please contact Geeks of Nevada at 775-841-7118 to develop strategies to achieve your needs.
Visit our web site at http://nevadageek.net
Follow us on Twitter at @nevadageek
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Jun 16, 2011
The Value in Vulnerability
The Value in Vulnerability
Above article by Thomas J. DeLong
Are you the type of person who steps out of your comfort zone, or have you settled nicely into your cozy little box? While I'm not a die hard fan of the person who is the subject of this article, I nevertheless found the story inspirational.
Every day I have the opportunity to witness clients morph their businesses with astonishing success because they dared to step out of their comfort zone. Where would we be if nobody dared?
Comments by Tracey Padilla, Pres., American Corporate Enterprises, Inc.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Above article by Thomas J. DeLong
Are you the type of person who steps out of your comfort zone, or have you settled nicely into your cozy little box? While I'm not a die hard fan of the person who is the subject of this article, I nevertheless found the story inspirational.
Every day I have the opportunity to witness clients morph their businesses with astonishing success because they dared to step out of their comfort zone. Where would we be if nobody dared?
Comments by Tracey Padilla, Pres., American Corporate Enterprises, Inc.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Jun 6, 2011
Managing High-Stakes Partners
Managing High-Stakes Partners
by Ben Gomes-Casseres
When I started to research business alliances over 25 years ago, an executive at General Motors told me: "If the business is worth doing, we'll do it ourselves." Today, few major companies still believe that they can go it alone — even when a business venture is worth a lot. External partnerships are not only more common, but as business bets go, they now involve much higher stakes. A company's value can rise and fall dramatically by how well it manages partnerships. In this new world, you are worth as much as your external relationships.
View Full Article
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
by Ben Gomes-Casseres
When I started to research business alliances over 25 years ago, an executive at General Motors told me: "If the business is worth doing, we'll do it ourselves." Today, few major companies still believe that they can go it alone — even when a business venture is worth a lot. External partnerships are not only more common, but as business bets go, they now involve much higher stakes. A company's value can rise and fall dramatically by how well it manages partnerships. In this new world, you are worth as much as your external relationships.
View Full Article
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
May 30, 2011
A Golden Opportunity For Gifts
Video courtesy of Journal of Accountancy
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
May 29, 2011
American Corporate Enterprises, Inc.'s Blog: Charging Order Protection for Nevada corporations
American Corporate Enterprises, Inc.'s Blog: Charging Order Protection for Nevada corporations: "The right of a judgment creditor to collect against the assets of a judgment debtor varies depending upon the nature of the assets. Some assets..."
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from start-up to expansion with our experience and expertise.
May 26, 2011
Seven Keys To Successful Corporate Tax Preparation
Many individuals look to April 15 every year with dread. For small and large corporations, it's not any different. No matter what type of taxes you're filing, there are many ways to make the process easier. Here are seven keys to success with corporate tax preparation.
1) Know Your Deductions
2) Pay Quarterly Estimated Taxes
3) Remember Other Tax Deadlines
4) Remember Charitable Contributions
5) Ensure Employee Taxes Are Correct
6) Know Sales Tax Guidelines
7) Hire An Expert (It's important to start early!)
View full article
Elite Bookkeeping & Tax Services will be happy to assist you! We're here to help your business succeed. Contact us today at (800)416-3820.
1) Know Your Deductions
2) Pay Quarterly Estimated Taxes
3) Remember Other Tax Deadlines
4) Remember Charitable Contributions
5) Ensure Employee Taxes Are Correct
6) Know Sales Tax Guidelines
7) Hire An Expert (It's important to start early!)
View full article
Elite Bookkeeping & Tax Services will be happy to assist you! We're here to help your business succeed. Contact us today at (800)416-3820.
Minimizing Start Up Costs
Executive suites are used by everyone from Fortune 500 companies, professionals in every trade, engineers, architects, manufacturers reps, to the entrepreneur and small to medium size business.
Minimize your start up costs by over 70%. The simple math makes it clear why the value and benefits of executive suites are the clear choice of professionals around the world. From team rooms to board rooms, you are equipped.
Benefit by the administrative management and team support that helps maintain and grow your business, while affording you a comprehensive professional environment.
For more information about Executive Suites and Virtual Offices visit
http://www.PinnacleExecutiveSuites.com
Minimize your start up costs by over 70%. The simple math makes it clear why the value and benefits of executive suites are the clear choice of professionals around the world. From team rooms to board rooms, you are equipped.
Benefit by the administrative management and team support that helps maintain and grow your business, while affording you a comprehensive professional environment.
For more information about Executive Suites and Virtual Offices visit
http://www.PinnacleExecutiveSuites.com
Entrepreneurs and Social Media, by Christine Adams, MBA
It has been my pleasure over the last eight months to work with several entrepreneurs in many different types of industries. When I first start my consulting business, I knew that social media would be part of my list of services. My specialty is grassroots marketing which is, an inexpensive way of promoting small businesses, through partnerships and customer relations management, to promote word of mouth referrals. Social media, in my opinion, is an online extension of grassroots marketing.
The biggest obstacle that I have encountered is how to appropriately help entrepreneurs understand social media and execute it in a manner that will monetize their business. Here is what I have learned and what I have found makes the most sense for small companies.
View full article at http://christineadams.wordpress.com/2011/05/06/entrepreneurs-and-social-media/
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from startup to expansion with our experience and expertise.
The biggest obstacle that I have encountered is how to appropriately help entrepreneurs understand social media and execute it in a manner that will monetize their business. Here is what I have learned and what I have found makes the most sense for small companies.
View full article at http://christineadams.wordpress.com/2011/05/06/entrepreneurs-and-social-media/
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from startup to expansion with our experience and expertise.
May 18, 2011
New Web Site Coming Soon
We will be launching our new web site very soon, which will have our calendar of training and events. Thank you Jillian with Site Noticed, Inc. for your dedication to this project!
For those of you who have not met Jillian, Celine Dion and Cirque du Soleil site creations are amongst her portfolio. We're lucky to have the opportunity to work with her as a Strategic Partner.
We're very much looking forward to starting classes at the center as well as moving forward with the business incubator.
Feel free to call us at (775)884-6116 if you have any questions about services, classes or possible speaking engagements at our facility.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from startup to expansion with our experience and expertise.
For those of you who have not met Jillian, Celine Dion and Cirque du Soleil site creations are amongst her portfolio. We're lucky to have the opportunity to work with her as a Strategic Partner.
We're very much looking forward to starting classes at the center as well as moving forward with the business incubator.
Feel free to call us at (775)884-6116 if you have any questions about services, classes or possible speaking engagements at our facility.
Find out more about the Business Achievement Center at our web site http://www.BusinessAchievementCenter.com. Our group of Strategic Partners are here to help businesses from startup to expansion with our experience and expertise.
Mar 23, 2011
Progress Update
Our grand opening is still scheduled for the beginning of May.
Happy 18th Anniversary to American Corporate Enterprises, Inc., one of our Strategic Partners!
We are also pleased to announce that we have pro bono consulting available for government contracts and government grants.
Welcome to our newest Strategic Partners and we look forward to working with everyone.
Happy 18th Anniversary to American Corporate Enterprises, Inc., one of our Strategic Partners!
We are also pleased to announce that we have pro bono consulting available for government contracts and government grants.
Welcome to our newest Strategic Partners and we look forward to working with everyone.
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