Posts Tagged ‘Partners’

Partner Corner – Sunbelt M & A Group

Tuesday, January 25th, 2011

Sunbelt (www.SunbeltElite.com) is one of the largest business sales firms in the country, helping business sellers and buyers since 1978.  Sunbelt offers sell-side, buy-side and exit planning strategies.

If you are considering selling your business, Sunbelt has the manpower and sales process to directly outbound call to the parties we identify as strategic acquisition candidates both nationally and internationally.  Sunbelt also uses a dozen business for sale websites including their own top-ranked proprietary site along with direct mail and targeted email campaigns.  They also have over 300 offices worldwide to reach out to the market for additional interest in your business.  No one has more reach than Sunbelt.

For those interested in buying a business, Sunbelt will help you identify all viable candidates, develop memorandums and negotiate terms allowing you to focus on managing your current business affairs.  Our marketing process finds hidden deals that are not listed on the open market and our multi-tiered screening process ensures you are in front of motivated sellers.

Sunbelt also provides exit planning services guiding business owners through a systematic exit planning process developed over 25 years.  You decide when you wish to leave your business, what amount of cash you need when you exit and to whom you want to transfer the business.

As an example of how Sunbelt can assist buyers and sellers, they recently brokered the sale of Canamer International, Inc. a Winona, MN based manufacturer and distributor of large covering products and client of PCS.

Canamer, established in 1973 by Paul B. Double, specializes in cover and lining systems. For the last three decades they have been providing reliable and cost effective covering solutions to their customers. One of the highlights of their services is the covering they provided during the reconstruction of 35W Bridge in Minneapolis. Paul B. Double commented on the sale “The efforts made by Sunbelt to match my company with a buyer were greatly appreciated. While there were a number of qualified lookers their persistence ultimately resulted in a match that met my needs and to enjoy transitioning the company with a new owner who values my input and to see my baby reach new heights.”

The company was acquired by David Packard a multi-business owner who saw an incredible opportunity in this niche industry. Commented Mr. Packard “Canamer International has been a leader/ innovator in the agriculture industry since 1973; it just needed a little energy and leadership to point it in the right direction. With our patents, continuous innovation, and service at our customer’s facility, we are very hard to compete with (foreign or domestic). We have several exciting projects in the works, as well as some new faces in our sales department that should make 2011 a great year.”

Sunbelt’ s challenge in finding the right buyer for Canamer was two-fold, first being location (Winona, MN) and second, convincing potential buyer that the vast transfer of knowledge wasn’t as frightening of an undertaking as it first appeared. Although Canamer had a fully capable staff to assist with the training and transition, Mr. Packard had the foresight to hire an outside manager to help learn and grow the business.

Sunbelt’s role as a business broker was instrumental in bringing both the parties together and successfully negotiating the sale. The sale process involved Sunbelt confidentially scouting for the right buyer due to the unique nature of the business. The lead brokers in the transaction, Mike Wheelock and Nacia Dahl, met with over 100 potential buyers to find the right acquirer who could bring the company to the next level.

The seller and buyer report the transition has gone well and sales have doubled over the past three months.

For more information:

Sunbelt M & A Group
1300 Godward Street, Sixth Floor, Suite 6000
Minneapolis, MN 55413
www.SunbeltElite.com
651.484.2677 Office
Contact Sunbelt

Tax Credits Provide Relief for U.S. Businesses

Sunday, October 31st, 2010

TaxBreak Tax CreditsBy:   Shannon Scott, President, TaxBreak-National Tax Credit

Most of you have heard the term “tax credit”, but did you know it can decrease your tax burden and put more cash back into your business?  Each year large and small companies forfeit millions of dollars because they do not take advantage of the tax credits available to qualifying employers. Many of these credits go unclaimed due to the complexity and time-consuming factors that impact the process.  There are many types of tax credits available to your company on the Federal, State and local level.  For the restaurant industry, the federal hiring credits such as the Work Opportunity Tax Credit (WOTC), Empowerment Zone (EZ) and Renewal Community (RC) credits can result in huge dividends.  These credits are available by simply doing what you do every day; hiring employees.

These tax credits can provide up to $9,000 per employee in Federal Income Tax Credits based on the category for which the employee qualifies.  These credits can be taken in the year earned, carried back one year or carried forward 20 years.  The WOTC rewards employers hiring individuals who are members of targeted economic groups while the EZ and RC are zone based credits.  To qualify for a zone credit, an employee simply has to live and work in one of the 81 designated zones in the United States.  Most companies believe they are taking advantage of this program through their regular tax deductions; however, that is simply not the case.  If your new hires are not completing and signing an IRS Form 8850 upon hire, you are not processing these tax credits.

These programs, although very beneficial, can be almost impossible to administer in house.  Processing and qualifying these credits takes a very good understanding of how tax incentives are applicable to a particular industry, location or employee base.  In some cases, extensive background and address history research must take place in order to verify these credits.  Tax credit processing companies throughout the United States assist you in identifying these credits and calculating the amount for which an employee qualifies.  Most of these companies work on a contingency fee basis, so there is no financial risk to your company and the fees are tax deductible.

Taking a proactive approach in identifying these credits can significantly increase your tax credit yield.   The application process will help you screen your new hires and identify their tax credit potential.  After all, this program was put in place to encourage you to hire these employees.

Recent tax law changes have increased the use of these credits to businesses who could previously not take advantage of the incentives along with extending the program itself.  The WOTC credit was extended for 3.5 years with liberalized rules for hiring disabled veterans and workers in “outward migration counties.”  Under the pre-2007 Small Business Act law, most general business credits, such as WOTC, could not offset a taxpayer’s Alternative Minimum Tax (AMT) liability.  With the enactment of the 2007 Small Business Act, this changed for credits earned after January 1, 2007.  The WOTC credits earned after January 1, 2007 offset AMT.  A taxpayer is subject to AMT whenever their tentative minimum tax exceeds their regular tax.

There are many good resources available for learning more about the types of credits and how these credits can help reduce your tax burden.  Information can be found on most search engines along with the IRS Website (www.irs.gov).  Tax time is fast approaching and it is not too late to help reduce your 2010 tax liability.

For more information:

Call George Shamblin gshamblin@taxbreakllc.com or Todd Griffin email tgriffin@taxbreakllc.com

866-499-6355
www.taxbreakllc.com

Legal Disclaimer: This article is intended for informational purposes only and by no means should replace or substitute other legal documents (governmental or non-governmental) reflecting similar content or advice. If you have any questions concerning your situation or the information provided, please consult with an attorney, CPA or HR Professional.

Joe’s Jottings

Sunday, October 31st, 2010

Joe ReillyHappy Halloween, everyone!

The approaching “celebration” of things that scare people brings to mind real life circumstances that scare business owners!  Our observations have shown us that one of the most frightening aspects of buying business services, insurance, etc., is “putting all your eggs in one basket.”  In other words, if you choose to be tied to a single vendor for all of your outsourced needs, and one or more of those needs is not being met (or worse, is a disaster), you’re locked in because of the “single source” agreement!

This is why PCS has chosen to work with selected service providers in each area of insurance and business outsourcing.  We have found that not all providers perfectly match the needs of all customers.  So, if four of five strategic partners are meeting your needs perfectly, but the fifth is not, it’s a simple matter of making a single change.  There is no “upheaval” in the areas progressing smoothly, and, there is no need to be tied to a “less than perfect” solution.  If you’d like to check out our partners and recommended vendors, click here.

Payroll Control Systems can help you find the right solution for all of your business services needs!  If I can be of help in any way, please call me at 763-513-5951, or on my cell phone, 763-567-8387.

We do appreciate your business!

Joe Reilly
Founder and CEO

Joe’s Jottings

Wednesday, July 28th, 2010

Joe ReillyPayroll Control Systems believes in putting the SERVICE back into Payroll Services. With all the transition we’ve seen in this industry over the past several years, Many of our competitors seem to be more focused on all of the ancillary services they can cross sell into their customers strictly to increase profit margins! Where did the SERVICE in Payroll Service go?

At PCS we focus on what we do best… bringing the best in class products for Timekeeping, Payroll and HR to our customers with a seamless, localized, one on one approach to sales, implementation, training and customer support. We leave selling 401K, benefits and other specialized services to the experts that should be selling them. We are continually working to open new relationships and build seamless integration with experts in various fields, providing our Clients with resources and advice they can count on.

As always, if you have any questions or suggestions, please call me at 763-513-5951.

We appreciate your business!!

Joe Reilly
President
Payroll Control Systems