Best For The World

The B Corp (Benefit Corporations) Best For The World recognizes companies creating the most impact for a better world.  They get a designation as a Certified B Corporation and recognized for creating the most positive social and environmental impact. Their web site: www.bcorporaton.net identifies the group as follows:

B Corp certification is to sustainable business what LEED certification is to green building or Fair Trade certification is to coffee. B Corps are certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency. Today, there is a growing community of more than 800 Certified B Corps from 27 countries and 60 industries working together toward 1 unifying goal: to redefine success in business.

We have one of these Best For The World Corporations right here in Delray Beach, Florida, the first south Florida firm with this designation. Among other things it does, consulting firm Sequel Systems Inc. helps clients obtain eco-friendly building certification; offers employee’s unlimited time off; pays all employee health insurance costs; provides an electric car; and all employees must volunteer in the community.

How does your company stack up?

 

Steve Koenig, SCORE Counselor

Visit us at: www.scoresouthflorida.net

 

 

Cost of App maintenance skyrocketing

Hal Finkelstein, Chairman of SCORE South Palm Beach recently wrote:

“Consider that just from Sept 18, 2013 through Jan 29, 2014 Apple released six different revisions to IOS 7 not to mention all the Android versions. It is turning out that the 2 yr maintenance for such an App is at least 3 times the original development cost and that 80% of such apps are updated and revised more then twice a year with 33% updated "EVERY MONTH" at big cost. … Now when you figure all of the IOS revisions, Mobile windows revisions and Android revisions --- all the Google algorithm changes, Browser changes can you see that to do even a mobile website right and make money from it you have to spend money and pray that you get even a reasonable ROI.”

So many business owners never know that the problem is not always their website but that Apple, Android, Google or Microsoft threw a curve ball and they never knew what hit them. While they are looking at this and spending big bucks there are other forces at play.

Do you take this into account in your business?

 

Steve Koenig, SCORE Counselor

Visit us at: www.scoresouthflorida.net

 

Retirement Contribution Limits Announced for 2014

The Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2014.

In general, some pension limitations such as those governing 401(k) plans and IRAs will remain unchanged because the increase in the Consumer Price Index did not meet the statutory thresholds for their adjustment. However, other pension plan limitations will increase for 2014. Here are the highlights:

• The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan remains unchanged at $17,500.
• The catch-up contribution limit for employees age 50 and over who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan remains unchanged at $5,500.
• Contribution limits for SIMPLE retirement accounts remains at $12,000.
• The deduction for taxpayers making contributions to a traditional IRA is phased out for singles and heads of household who are covered by a workplace retirement plan and have modified adjusted gross incomes (AGI) between $60,000 and $70,000, up from $59,000 and $69,000 in 2013. For married couples filing jointly, in which the spouse who makes the IRA contribution is covered by a workplace retirement plan, the income phase-out range is $96,000 to $116,000, up from $95,000 to $115,000. For an IRA contributor who is not covered by a workplace retirement plan and is married to someone who is covered, the deduction is phased out if the couple's income is between $181,000 and $191,000, up from $178,000 and $188,000. For a married individual filing a separate return who is covered by a workplace retirement plan, the phase-out range is not subject to an annual cost-of-living adjustment and remains $0 to $10,000.
• The AGI phase-out range for taxpayers making contributions to a Roth IRA is $181,000 to $191,000 for married couples filing jointly, up from $178,000 to $188,000 in 2013. For singles and heads of household, the income phase-out range is $114,000 to $129,000, up from $112,000 to $127,000. For a married individual filing a separate return, the phase-out range is not subject to an annual cost-of-living adjustment and remains $0 to $10,000.
• The AGI limit for the saver's credit (also known as the retirement savings contribution credit) for low- and moderate-income workers is $60,000 for married couples filing jointly, up from $59,000 in 2013; $45,000 for heads of household, up from $44,250; and $30,000 for married individuals filing separately and for singles, up from $29,500.

 

Barry Eisenberg, SCORE Counselor

visit us at: www.scoresouthflorida.net

 

 

 

 

Onshoring Example

In a recent move FORD Motor Company is spending millions to move manufacturing of some of its trucks from Mexico to Ohio. Yes that is the good old USA. Apparently the USA is a better place for this product. A recent survey showed that the USA has surpassed Mexico for the first time as the most desirable, particularly for high priced, high margin products where labor rates are not as significant in the price of the products.

 

What can this mean for your business?

 

Steve Koenig, SCORE Counselor

Visit us at: www.scoresouthflorida.net

 

 

Special Counselor of the Month

 

We are delighted to shine the spotlight on a distinguished member of our staff who by his or her
efforts brings great credit to our organization. This month we are honored to salute:

PHIL MILLER

 

 

 

Our newest Special Counselor of the Quarter, is very special indeed. The CTT Committee selects
the winner each quarter, and has always operated under the theory that those in Leadership roles
should not be eligible for this recognition. But this time around, the evidence was so overwhelming
regarding our selection of Vice Chair Phil Miller, that we have unanimously suspended the rule.

 

As surely every member knows by now, Phil has taken it upon himself to learn and then teach
some of the complexities of Internet Marketing, with specific reference to website marketing.
Coming from a background where his business did not require a focus in this area, Phil nevertheless
saw the growing need for our Chapter to serve those clients operating web-based businesses and
those desirous of developing a website.

 

The results of Phil’s extraordinary efforts are plain to see. Not only has he trained a cadre of
dedicated Counselors , converting them into savvy Tech Teams, the number of clients responding
to news of this business service has dramatically increased our client base.

 

Phil serves the chapter as Vice Chair for Education and Programming, serves on both the Planning
Committee and the Executive Board, and he also is our chapter liaison to Lynn University where
he has developed a strong relationship with university leaders and the Board of Advisors. Add to
that the countless hours Phil has put in as our Tech teacher, and counseling many clients,
and you have a picture of a truly dedicated member.

 

Phil, for all you do that makes this Chapter sparkle and shine, we salute you as our Special
Counselor of the Month. Take a good, deep bow, you’ve earned it!

 

Some Florida Good News

The winter of 2014 has seen more snow in the US than most. A recent Sun Sentinel headline read:

 “ 49 states see snow; only 1 doesn’t (its us)”. 

At the same time the state of Florida reported 2013 tourism was up 3.5% from the previous year.

 

How is your business taking advantage of being in Florida?

 

Steve Koenig, SCORE Counselor

Visit us at: www.scoresouthflorida.net

 

 

Bitcoin

Bitcoin is a digital currency, also called a cryptocurrency, that has been around for over five years. It is an online alternative form of money and is not created, controlled or regulated by a central body.

Without regulation, people anywhere in the world can transact business freely, with no fees and no bank account. The rules are set by the market. Freedom from politics and a limited supply makes Bitcoin more stable than currencies that are politically adjusted.

While not the first digital currency, in 2008, a paper was posted on the internet under the name Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System, that gave rise to what we have today.

Demand spiked 5,000 per cent in 2013, driving the price of a bitcoin from about $13 U.S. in January to more than $1,000 U.S. in November, largely because of demand in China.

China forbids banks from dealing in the currency. The U.S. seized $25 million in bitcoins from an online exchange for criminals. Most of the current attention comes from its sharp price appreciation and the host of merchants and venture capitalists engaging.

Starting in the last quarter of 2013 a number of organizations announced plans for Bitcoins, among these are Overstock.com, Zynga, The D Las Vegas, Golden Gate Hotel & Casino as well as a number of restaurants.

Is there a place in your business for Bitcoin?

 

Steve Koenig, SCORE Counselor

Visit us at: www.scoresouthflorida.net