Category: Blog

Update on Executive Orders to Provide Financial Relief on Payroll Taxes

Clarification from the IRS is now beginning to trickle in regarding the Executive Order signed by President Trump on August 8, 2020. The intent of the President’s order was to provide financial relief on payroll taxes to employees due to the ongoing Covid-19 pandemic. Our team would like to provide the following details regarding the order and subsequent IRS guidance, which has serious ramifications to consider.

EXECUTIVE ORDERS RECENTLY SIGNED TO PROVIDE FINANCIAL RELIEF ON PAYROLL TAXES

Following is a quick update regarding the executive orders signed by President Trump last Saturday, August 8 with the intent of providing financial relief on payroll taxes due to the ongoing Covid-19 pandemic.

BREAKING NEWS! CMS TO REBRAND MEANINGFUL USE PROGRAM WITH NEW EMPHASIS ON INTEROPERABILITY, BURDEN REDUCTION

In a rule released this week (April 24), the Centers for Medicare & Medicaid Services (CMS) has announced its intention to overhaul the Meaningful Use program.

In a press release, the federal agency said that it will be proposing to re-name the Meaningful Use program to “Promoting Interoperability.” CMS said the goals of the new program will be to: make it more flexible and less burdensome; emphasize measures that require the exchange of health information between providers and patients, and incentivize providers to make it easier for patients to obtain their medical records electronically.

THE BEST INVESTMENT ADVICE EVER!

As of the time this blog is being written, the stock market is in the “green” and all is looking good for an incredible finish to a record breaking year for the American stock market. This has certainly been a historical year for the stock market and the American economy as a whole. As most everyone knows, stock markets around the world reflect, to a tremendous degree, the impact and value of investments that have been made in companies, new innovations, and inventions throughout the year.

CALLING A TIMEOUT TO FINISH STRONG & BEGIN STRONG

We frequently hear comments around this time each year about how quickly the year went by. “Where in the world did the year go?” “I can’t believe the year went by this quickly!” “Where did time go?” The fact of the matter is that life moves along at a breakneck pace and seems to pick up speed all the time. Most of us will certainly find this to be the case as we get older.

However, now may be a good time to call a strategic “timeout” to assess our success this year. In other words, how do we think we have performed in all facets of our life throughout the year? This assessment should include all areas that are of major importance to us personally and professionally. Our discussion today will focus on the importance of taking a strategic timeout to do two things which can lead to success.

ACHIEVING POSITIVE INTELLIGENCE – PART 1

Most of us have likely used a Burt’s Bees product at some point over the past 10 – 15 years. Burt’s Bees is a personal-care products company that was founded in 1984 in Maine and is now headquartered in Durham, North Carolina. Burt’s Bees was purchased by the Clorox Company in 2007 for a whopping $925 million in cash. Its original, “flagship” product was the famous Burt’s Bees lip balm which led to the company growing its unique personal-care products line globally. Burt’s Bees has now expanded its footprint into 19 different countries. A consumer can find Burt’s Bees products in most supermarkets, pharmacies, and even restaurants.

I recently read an article from the September 18, 2017 Encouragement Wired newsletter that talked about the high pressure growth environment that Burt’s Bees was able to successfully manage. In many companies, a high growth scenario means numerous meetings, flooded e-mail boxes, and constant urgent demands. The Burt’s Bees team has been able to successfully avoid operating in the expected “state of high anxiety” environment which tends to effect a group’s problem solving capabilities. The secret to this success has been an encouragement for Burt’s Bees employees to work with a positive mind-set. Research shows that when people work with a positive mind-set, performance on nearly every level related to productivity, creativity, and engagement – improves. Most individuals equate a positive mindset with personal happiness which is the assumption that we’ll take in this blog. By the way, this will be the first of four blogs related to achieving what is called “Positive Intelligence.”

DON’T SWEAT THE SMALL STUFF!

The older I get the more I think about all the “small stuff I have sweated” about over the years. These are the things that at one time seemed to be tremendously important and major priorities for me. At particular times of my life, some of these things actually were priorities. However, when looking back over the years (hindsight is always 20/20), I now realize that those “old” priorities turned out not meaning a thing in terms of their lifetime value to me or to others. In essence they were only insignificant, inconsequential things (small stuff) that I unnecessarily worried about at the time.

I recently read a fantastic book by Richard Carlson, Ph.D. called Don’t Sweat the Small Stuff for Men. This book identified fifty-two simple things that we can do to minimize stress in today’s mega-busy, tech-driven environment. A side note here is that Dr. Carlson has authored several “Don’t Sweat the Small Stuff” books that have become bestsellers. For today’s blog, we won’t have time to talk about all fifty-two things Dr. Carlson identifies. We will cover just a few of the most significant “takeaways” that I feel are most applicable to each of us:

7 THINGS WILDLY SUCCESSFUL PEOPLE DO BEFORE 7:30 A.M.

There are people from all walks of life whom we consider to be successful in whatever way we personally may define success. When you study these individuals and how they manage their lives, many times you’ll find interesting things they do that set them apart from others. First of all, their confidence in the face of hardships is driven by their ability to let go of the negativity that holds so many individuals back from being successful. It seems that successful individuals are those who in many ways thrive on facing obstacles and how they overcome them. Their mantra in life could be summed of with “Obstacles do not block the path; they are the path.”

This perspective helps successful people think differently from most everyone else. This unique way of thinking is important because, if you think like everyone else, no matter how smart or talented you are, you will hit the same “ceiling.” By thinking outside the box and being different (going against the grain), successful people are on track to rise above their limitations. So let’s take a look at some of the ways that successful people go against the grain.

212 DEGREES – ONLY ONE DEGREE CAN MAKE A DIFFERENCE!

At 211 degrees…water is hot.
At 212 degrees…it boils.
And with boiling water, comes steam.
And steam can power a locomotive.
And, it’s that one extra degree that…
Makes all the difference.

How many of us ever really consider what is takes to be just a little bit better at work, in our relationships, at a hobby, etc.? Honestly, many of us probably dream about making major improvements in our lives without ever achieving many of those dreams. The reason for this may be that our dreams are unrealistic or that we never take the necessary steps to begin and follow-through with achieving our dreams. Maybe we are intimidated by taking those first steps to improve or believe that the final destination is unreachable because the journey is too difficult.

5 REASONS THE IRS WILL AUDIT (INFOGRAPHIC)

Here is an infographic of 5 reasons the IRS will audit your business.