What is a "Typical Situation" people are in when they realize they need your help?
Our client’s Brand and marketing material is looking dated and their website is not getting results. Their website has many errors and does not pass the 10 second grunt test. Their website visitors cannot find out: What they do, why they should hire and/or buy (Is there a call to action?) Also, the website is not responsive (adjusts to mobile devices).
 
What is something someone might say that would lead me to think of you?

• “My website sucks”
• “Our logo stinks and our brand looks old”
• “Our marketing material looks like an amateur did it”
• “Our website is not working. It does not adjust to mobile devices and is not showing up on google when searched via a mobile device”

 
What (Specifically) do they do?
They are a design firm with a focus on branding and site design and development to small to midsize companies. Their proven strategy has helped hundreds of companies realize their goals.
 
How do they do it?
They start with a website and brand audit which helps define what has been working and what is not presently working for a client. Then, via interviews they establish project goals and objectives. Through a series of design concept presentations and final implementation they establish a new brand or site based on the client’s business goals.

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The Internal Revenue Service has updated the tax year 2018 annual inflation adjustments to reflect changes from the Tax Cuts and Jobs Act (TCJA). The tax year 2018 adjustments are generally used on tax returns filed in 2019. 
The tax items affected by TCJA for tax year 2018 of greatest interest to most taxpayers include the following dollar amounts:

• The standard deduction for married filing jointly rises to $24,000. For single taxpayers and married individuals filing separately, the standard deduction rises to $12,000; for heads of households, $18,000.
• The TCJA reduced the personal exemption. The personal exemption for tax year 2018 is $0.
• TCJA reduced tax rates for many taxpayers. The new tax rates are: 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent and a top rate of 37 percent. For tax year 2018, the highest tax rate will apply to married individuals filing jointly and surviving spouses with taxable incomes over $600,000, to single taxpayers and heads of households with incomes over $500,000, and to married taxpayers filing separately with incomes over $300,000.
• The TCJA eliminates the limitation for itemized deductions.
• The Alternative Minimum Tax exemption amount for tax year 2018 is greatly increased under TCJA. For tax year 2018, the exemption amount for single taxpayers is $70,300 and begins to phase out at $500,000, and the exemption amount for married couples filing jointly is $109,400 and begins to phase out at $1 million.
• For estates of any decedent passing away in calendar year 2018, the basic exclusion amount is $11,180,000.

Certain items had minor adjustments. TCJA requires a different method for adjusting for inflation.

• For 2018, the foreign earned income exclusion will be $103,900.
• The maximum earned income credit amount will be $6,431 for taxpayers with 3 or more qualifying children, for 2018. Other earned income credit amounts are detailed in Revenue Procedure 2018-18.
• For tax year 2018, participants who have self-only coverage in a Medical Savings Account, the plan must have an annual deductible that is not less than $2,300, but not more than $3,450. For self-only coverage, the maximum out-of-pocket expense amount is $4,550. For tax year 2018, participants with family coverage, the floor for the annual deductible is $4,550; however, the deductible cannot be more than $6,850. For family coverage, the out-of-pocket expense limit is $8,400 for tax year 2018.  (Only the “$4,550” amount differs from what was in the IR-2017-178.)

Items unaffected by the TCJA The dollar amounts for the following items described in the inflation adjustment news release issued in Oct. 2017 remain unchanged under the new method for adjusting for inflation required by the TCJA:

• For tax year 2018, the annual exclusion for gifts is $15,000.

• For tax year 2018, the monthly limitation for the qualified transportation fringe benefit is $260, as is the monthly limitation for qualified parking.
• For tax year 2018, the adjusted gross income amount used by joint filers to determine the reduction in the Lifetime Learning Credit is $114,000.

• For calendar year 2018, the dollar amount used to determine the penalty for not maintaining minimum essential health coverage is $695.

This news release replaces IR-2017-178, which provided the inflation adjusted items under the law prior to enactment of the TCJA.

Step 1- Business Planning (Days 0-90/ Months 0-3)

• Understand the owner’s personal, business and financial goals- Sale Readiness Assessment
• Collect data about the company- Company Information Questionnaire
• Prepare a detailed business valuation-GLM’s Business Valuation Report
• Develop and action plan to Prepare the Business for Sale- Succession Planning Approach

Step 2- Pre-Market Preparation (Days 90-180/ Months 3-6)

• Conduct in-depth industry research: Reference USA & 2018 Business Reference Guide
• Prepare Generic Executive Summary and Marketing materials about company

1. General Information Executive Summary (No Business Name or location)
2. Buyer Nondisclosure Agreement
3. Complete Executive Summary (Company name and Adjusted Financials)
4. 3 Way Confidentiality Agreement (To be signed before seeing complete financials)
5. Complete Company Description

• Develop marketing plan to sell company- Suggested Next Steps
• Identify prospective buyers- Reference USA Custom Lists

Step 3- Going to Market (Days 180-270/ Months 6-9)

• Market company on confidential basis
• Secure nondisclosure agreements from prospective buyers
• Schedule and conduct management presentations and site visits
• Secure Offer to Purchase- qualifying bids or indications of value from buyers

Step 4- Negotiation (Days 270+/ Months 9+)

• Analyze offers and terms to help client decide best option
• Manage key relationship with buyers
• Assist with negotiations of Letter of Intent
• Obtain final signed letter of intent
• Coordinate the due diligence process
• Assist with negotiations of purchase and sale agreement

Step 5- Closing (Days 270+/ Months 9+)

• Work with attorneys to draft the definitive purchase and sale agreement
• Help to resolve and open issues between parties
• Coordinate with seller and buyer on strategic planning issues
• Close the transaction

What is a “Typical Situation” people are in when they realize they need your help?

Typical client size 1-30 employees, with many that have several hundred and multiple FEINs. They are generally frustrated with the national payroll services, rising costs for diminishing service levels.
 
General frustration with the cost & lack of support that they receive including:
•             Calling overseas for help with Payroll
•             Reps not returning their calls
•             Revolving door of reps
•             Rising Costs / diminishing levels of service
•             Worker’s Comp annual payments are difficult to predict
 
What is something someone might say that would lead me to think of you?
 
•             “I just don’t know who to talk to anymore or no one calls me back”
•             “Every time I call, I speak to someone new”
•             “They just don’t understand my business”
•             “Payroll processing has gotten so expensive”
•             “I have such a large annual invoice for Worker’s Comp, it impacts my cash flow”
 
What (Specifically) do they do?
The Payroll Company works with small to mid-sized businesses and provides comprehensive, completely scaleable payroll and HCM services.  We keep businesses in compliance with our economical and easy to use system, while providing local dedicated payroll specialists.
 
How they do it?
The Payroll Company provides the highest quality of customer service and support, with years of experience.  State-of-the-art integrated solutions streamline the process of payroll and HCM from hire-to-retire.  Dedicated payroll representatives understand our clients unique needs, and provide solutions and one point of contact to help manage payroll and tax requirements.
 
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