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.
Jun 29, 2011
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.
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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.
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