Tuesday, September 28, 2010
Michelle Obama "THAT'S AMERICA"
http://www.youtube.com/watch?v=78BKtvK7VtM&hl=en
Wednesday, August 18, 2010
The 2009 Stimulus Package - What's in it For My Small Business?
We've all heard about it: the American Recovery and Reinvestment Act of 2009, also known as the ARRA. But what exactly is it, and how can it help your small business? To begin with, the ARRA is essentially a $787 billion dollar bill passed in February 2009 by President Obama in order to provide for various tax relief and investment opportunities. More specifically, the full title text of the ARRA is as follows:
An act making supplemental appropriations for job preservation and creation, infrastructure investment, energy efficiency and science, assistance to the unemployed, and State and local fiscal stabilization, for the fiscal year ending September 30, 2009, and for other purposes.
While many of the benefits of the ARRA are readily available for small businesses and individuals to utilize, it is important to note that the advantages are not automatic; in other words, they require that you as a small business or individual be proactive in applying the benefits and fully utilizing them to assist in putting more money in your pocket (or at least having to shell out less!) With that said, let's take a look at a small sampling of the benefits that the 2009 ARRA has to offer for small businesses:
1. Utilization of Current Losses to Offset Profits: Typically, as a business incurs losses, these can be used to offset taxes on profits for the past two years. However, this ARRA provision allows companies to use losses to offset profits for three, four, or even five years, depending upon circumstance. Given the financial hardship that the current economic situation has inflicted on many small businesses, this provision may provide much-needed financial assistance to small businesses in need.
2. Increased Depreciation: You may recall the Economic Stimulus Act of 2008 as the Act which provided individual taxpayers with a one-time tax rebate of anywhere between $300 and $1,200. Another aspect of this Act included a "50% bonus depreciation provision for 'qualified' property purchased, manufactured, constructed or produced in 2008". The 2009 ARRA provision essentially provides for a carryover of this depreciation benefit for 2009, fundamentally providing an accelerated depreciation schedule for fixed asset purchases. Thus, this provides an incentive for businesses to make purchases of necessary or desired assets, such as equipment and computers, as businesses are now able to utilize this benefit into 2009.
3. Credit for Work Opportunity: Employers will have the opportunity to take advantage of a credit in the amount of up to 40% of the first $6,000 in wages paid to certain new hires. The catch is that these hires must come from one of nine specific "target groups," including ex-felons, disabled veterans, "disconnected" youths, and food stamp recipients. The great part of this is that the benefit is available in 2009 and 2010.
Another area of opportunity for business is partially included in the "Credit for Work Opportunity" discussed above and is a program I've had the privilege of utilizing recently. My local county (San Bernardino) has been appropriated ARRA funds for providing youths to work for businesses of all types and in various capacities. As long as your company has room for an entry-level employee where honing a skill or learning a general business practice is afforded, this program covers both wages and worker's comp insurance for youths ages 18-21 for up to 180 hours. This is a summer program, but is going to be carried over into a year-round opportunity as well. While the details of this program may vary by county or municipality, please visit the Career Institute at http://www.careerinstitute1.org/ for information on this program in San Bernardino County. The helpful staff there will be able to assist you in either locating youths for hire (for free!) or in locating a similarly appropriate organization for your company.
While there are many areas of assistance for small business, the ARRA is also focused on assisting individuals with some very interesting programs as well. Even though the focus of this article is on small business, since we are all individuals, let's also quickly take a look at a few of these benefits as well:
1. Payroll Tax Credit (the "Making Work Pay" Credit): Similar to the Economic Stimulus Act described above, this credit will provide $800 for joint filers and $400 for individuals. This credit will phase out for individuals earning an AGI of over $75,000 and for couples with an AGI of over $150,000. Unlike last year's payout by check, however, this credit will be given in the form of a reduction of tax withholdings.
2. New Homebuyer Credit: This credit will provide first-time homebuyers an $8,000 credit for home purchases made between January 1 and December 1, 2009.
3. Home Energy Credit: Homeowners who make financial outlays to increase the energy efficiency of their homes in 2009 and 2010 could receive up to a 30 percent (or up to $1,500) credit for such purchases.
Clearly, there are numerous other areas of benefit that the American Recovery and Reinvestment Act of 2009 has in store, benefits for both small businesses and individuals. A great place to begin to further explore these opportunities is at the official ARRA site, www.recovery.gov. From there, you can investigate various aspects of the ARRA, including information on the unprecedented level of accountability and transparency included in the Act. Furthermore, as a great deal of the funding from the ARRA is going directly to individual states, you can use the site's State, Local, Tribal and Territorial Information portal to locate more detailed information on programs available in your area. I personally encourage you to explore the Wikipedia entry pertaining to the ARRA, and more specifically a breakdown of the provisions of the Act, by clicking here. While Wikipedia is by no means a scholarly source of information, this page does give an excellent (read: simple) breakdown of the Act and where its monies will be focused and spent, giving you a great springboard for further conducting your own research and for areas of benefit to discuss with both your business and personal accountants.
Overall, however, one of the best ways you can prepare yourself to take full advantage of the ARRA is to arm yourself with knowledge of the benefits that the Act has to offer, and take this information with you as you consult with your accountant or financial planner. As he/she is intimately familiar with you and your business, press this individual on the topic of the ARRA, and encourage them to do their due diligence in discovering how the numerous ARRA benefits can help both you and your organization!
Michael Capps is a graduate of California State University's MBA in Entrepreneurship program, the #4 ranked MBA Entrepreneurship program in the US by Entrepreneurship Magazine & The Princeton Review. Michael has assisted numerous businesses and organizations in taking their operations to the next level through his unique approach to and outlook on business planning and strategics. To find out more about the services he can offer you and your organization, please visit http://www.meg-enterprises.com or email him directly at mcapps@meg-enterprises.com.
Monday, July 26, 2010
The Promise of Clean Energy
http://www.youtube.com/watch?v=ulyTh0VtZb8&hl=en
Thursday, July 22, 2010
DARE RI Bruce
http://www.youtube.com/watch?v=cHu7epr8MyY&hl=en
Monday, July 19, 2010
Native American Grants
There are an abundant number of Native American grants available for registered American Indian tribal members and Alaskan and Hawaiian natives. There are Native American grants for education, housing, caring for elderly tribal members, cultural renewal, environmental protection, and tribal economic development. And that's just the tip of the ice burg! However, just because funds are available in all of these areas and more, one must not get the impression that the money is easily won. Receiving Native American grants is a competitive procedure and that requires persistence and research. My website at the bottom of this article will give you all the information you need to get a hold of one.
One of the first steps of applying to almost all Native American grants is proving that you are a registered member of a federally recognized tribe. It is important to get this underway as soon as possible. To determine if you are eligible for tribal membership you should contact your ancestral tribe. Individual tribes determine tribal membership. The Bureau of Indian Affairs (BIA) Tribal Leaders Directory lists all federally recognized tribes, as well as contact information for local tribal leaders and BIA offices. Other avenues for tracing your Native American heritage include searching home records, using internet search engines, and checking local and state record keeping offices. Talk to your older relatives and try to find birth and death certificates, marriage licenses, diaries, newspaper clippings, etc. Check school, church and county courthouse records for information - also look for deeds, wills, land or other property conveyances. You can also write to the Bureau of Vital Statistics for information. Another options is employing a professional genealogist to do the research for you for a fee. You can write to the Board of Certification of Genealogists or the Association of Professional Genealogists and request their listings of genealogical researchers for hire.
When searching online you'll be astonished at the amount of grants out there (just use 'Native American Grants' as your key word on my website). For example, the Native American Housing Assistance and Self-Determination Act of 1966 created a block grant that gives money annually to low-income Native Americans and Alaskan natives to help with housing needs. The money is awarded to tribes and Alaskan villages who in turn manage the money and distribute it in the way that best fits the needs of their individual community. The U.S. Department of Housing and Urban Development (HUD) also has home ownership and housing rehabilitation opportunities available specifically for Native Americans.
One interesting resource is the Seva Foundation, which awards grant money anywhere between $500-$5,000, for grass roots, native people initiated programs which may be overlooked by the larger foundations. Seva awards $50,000 a year in small grants to urban and rural communities in the United States. Because of Seva's strong belief in the importance of self-reliance and self-determination only Native led and initiated projects are accepted. The beauty of these grants is that they allow for a lot of creativity and originality.
Another great resource is CodeTalk, which is a federal, interagency, Native American website designed specifically to deliver electronic information from government agencies and other organizations to Native American communities.
Search my site for Native American Grants Here: [http://www.freegrantdollars.com/Native-American-Grants]
Saturday, July 17, 2010
The Largest Tax Protests in American History
The Stamp Act of 1765
After the British victory in the Seven Years War, the British government felt the American colonies should pay off some of the war's debt with a new tax. They chose to tax a wide selection of printed materials, such as stamps, to repay the debt. Since the English bill of rights - the Magna Carta - granted citizens the right to only be taxed with proper consent, the colonists felt the new tax was unfair and revolted. By 1766, the tax was repealed, but not before the British Parliament was given the power to legislate over the colonists in the future, which would lead to the American Revolution.
The Boston Tea Party
One of the most famous protests in history, the Boston Tea Party, has become a symbol of American independence. The historic event took place when hundreds of Boston residents dressed as Native Americans and threw hundreds of pounds of East India Trading Company tea bags in to the sea. There were several different reasons they did this, but the most common of which was the lack of colonial representation in the British government.
The Whiskey Rebellion
In 1791, during Washington's presidency, taxes were raised in the U.S. on whiskey to pay off a national debt. The Secretary of Treasury at the time (Alexander Hamilton) said it was both a way to raise revenue and to enforce social policy. However, it upset the American public enough to start a tax rebellion that led to a series of violent protests.
Proposition 13
The people of California approved Proposition 13 in 1978, which resulted in a cap on property tax rates in the state, reducing them by an average of 57%. In addition to lowering property taxes, the initiative also contained language requiring a two-thirds majority in both legislative houses for future increases in all state tax rates or amounts of revenue collected, including income tax rates. It also requires two-thirds vote majority in local elections for local governments wishing to raise special taxes. The act of passing the legislation is claimed to be one of the most successful acts of tax protest in American history, and pre-saged the election of Ronald Reagan to the U.S. presidency in 1980.
The Tea Party Protests of 2009
The recent "Tea Party" protests have been called the biggest protest in the country's history. However, there has yet to be any official confirmation on the exact number of participants. Estimates say that roughly 650,000 decided to protest federal taxation on April 15, 2009. The people involved stated many reasons for their protests, including but not limited to out-of-control federal government spending and federal bailouts.
The Roni Deutch Tax Center is one of the nation's hottest income tax franchise.
Income tax preparation is a recession resistant industry. Learn more about this new tax franchise opportunity today.
Tuesday, June 29, 2010
Use TARP Money To Start The Next Google
http://www.youtube.com/watch?v=rmV55yDMVhU&hl=en
