• Home
  • Services
    • Accounting & Financial Statements
    • Tax Preparation & Planning
    • CFO & Advisory Services
    • Financial Consulting Services
    • Tax Representation & Resolution
    • Incorporation & Business Setup
    • DCAA & Government ContractING
    • Coaching & Training
    • Growth & Wealth Management
    • Payroll Services
  • Contact Us
  • Industries
    • Doctors & Physicians
    • Dentists & Dental Practices
    • Management Consulting Firms
    • Lawyers and Law Firms
    • DCAA & Government Contracting
    • Real Estate
  • About Us
  • Blog
  • Resources
  • Schedule Meeting
Travis Raml, CPA & Associates, LLC
  • Home
  • Services
    • Accounting & Financial Statements
    • Tax Preparation & Planning
    • CFO & Advisory Services
    • Financial Consulting Services
    • Tax Representation & Resolution
    • Incorporation & Business Setup
    • DCAA & Government ContractING
    • Coaching & Training
    • Growth & Wealth Management
    • Payroll Services
  • Contact Us
  • Industries
    • Doctors & Physicians
    • Dentists & Dental Practices
    • Management Consulting Firms
    • Lawyers and Law Firms
    • DCAA & Government Contracting
    • Real Estate
  • About Us
  • Blog
  • Resources
  • Schedule Meeting

IRS issues standard mileage rates for 2021

12/28/2020

0 Comments

 
​The mileage rate decreased 1.5 cents from 2020 for Business use mileage, and 1 cents for medical, or moving purposes for qualified active duty members.
https://ramlcpa.link/3bv

Beginning on January 1, 2021, the standard mileage rates for the use  will be:

- $ 0.56 cents per mile for business use,
- $ 0.16 cents per mile for medical, moving, or active duty members, and
- $ 0.14 cents per mile driven in service of charitable organizations.
Tweet This
Tweet
Picture

IR-2020-279,
​December 22, 2020

WASHINGTON — The Internal Revenue Service today issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on January 1, 2021, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
​
  • 56 cents per mile driven for business use, down 1.5 cents from the rate for 2020,
  • 16 cents per mile driven for medical, or moving purposes for qualified active duty members of the Armed Forces, down 1 cent from the rate for 2020, and
  • 14 cents per mile driven in service of charitable organizations, the rate is set by statute and remains unchanged from 2020.

The standard mileage rate for business use is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs.
It is important to note that under the Tax Cuts and Jobs Act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses. Taxpayers also cannot claim a deduction for moving expenses, unless they are members of the Armed Forces on active duty moving under orders to a permanent change of station. For more details see Moving Expenses for Members of the Armed Forces.
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

Taxpayers can use the standard mileage rate but must opt to use it in the first year the car is available for business use. Then, in later years, they can choose either the standard mileage rate or actual expenses. Leased vehicles must use the standard mileage rate method for the entire lease period (including renewals) if the standard mileage rate is chosen.
contains​ the optional 2021 standard mileage rates, as well as the maximum automobile cost used to calculate the allowance under a fixed and variable rate (FAVR) plan. In addition, the notice provides the maximum fair market value of employer-provided automobiles first made available to employees for personal use in calendar year 2021 for which employers may use the fleet-average valuation rule in or the vehicle cents-per-mile valuation rule.
n-21-02.pdf
File Size: 82 kb
File Type: pdf
Download File

0 Comments

PPP, Stimulus Checks, and Unemployment Update

12/22/2020

0 Comments

 
https://ramlcpa.link/3d56d | ​Journal of Accountancy

PPP Round 2 will be open to 
  • PPP Round one (1) recipients who,
  • Have 300 or less employees.         
  • Have used or will use the full amount of their first PPP loan.       
  • Can show a 25% gross revenue decline in any 2020 quarter compared with the same quarter in 2019.
Tweet This!
Tweet
Picture

While not law just yet, it is expected to be signed by the president as soon as today.

While we know many key details, there are some key details we don't know, especially regarding the PPP Loan Program. The most pressing in my mind are bank participation and when applications will be accepted as some time will be needed to restart the program.
 
Additional details will be forthcoming and the below summary will probably be updated over the coming days for additional details and clarifications.

Below, I summarize the key provisions in the bill:​

PPP Round 2 & EIDL

 $325 billion in aid for small businesses struggling after nine months of pandemic-induced economic hardships.  
    Allocations           
  • $284 billion to the U.S. Small Business Association (SBA) for first and second PPP forgivable small business loans and 
  • $20 billion to provide Economic Injury Disaster Loan (EIDL) Grants to businesses in low-income communities. 
  • $15 billion in dedicated funding  for shuttered live venues, independent movie theaters, and cultural institutions 
  • $12 billion will be set aside to help business in low-income and minority communities.   

Stimulus Checks

 $166 billion for economic impact payments of          
  • $600 for individuals making up to $75,000 per year and       
  • $1,200 for married couples making up to $150,000 per year, as well as a     
  • $600 payment for each child dependent.     

Supplemental Unemployment

$120 billion to provide workers receiving unemployment benefits a       
  • $300 per week supplement from Dec. 26 until March 14, 2021.       
  • This bill also extends the Pandemic Unemployment Assistance (PUA) program, with expanded coverage to the self-employed, gig workers, and others in nontraditional employment, and the Pandemic Emergency  Unemployment Compensation (PEUC) program, which provides additional weeks of federally funded unemployment benefits to individuals who exhaust their regular state benefits. 
Other Provisions           
               
 $25 billion in emergency rental aid and an extension of the national eviction moratorium through Jan. 31, 2021.  
               
 $45 billion in transportation funding, including          
  • $16 billion for airlines,          
  • $14 billion for transit systems,          
  • $10 billion for state highways,         
  • $2 billion each for airports and intercity buses, and        
  • $1 billion for Amtrak.          
               
$82 billion in funding for colleges and schools, including support for HVAC repair and replacement to mitigate virus transmission, and  
  
$10 billion in child care assistance.          
                           
$22 billion for health-related expenses incurred by state, local, Tribal, and territorial governments.   
               
$13 billion for emergency food assistance, including a 15% increase for six months in Supplemental Nutrition Assistance Program benefits. 
  
$7 billion for broadband expansion.          
               
  The bill also extends the           
  • Employee retention tax credit and several expiring tax provisions
​
​   and temporarily allows a             

Business Meals 100% Deductible

  • 100% business expense deduction for meals (rather than the current 50%) as long as the expense is for food or beverages provided by a restaurant. This provision is effective for expenses incurred after Dec. 31, 2020, and expires at the end of 2022.
  • ​
PPP Round two (2) Who is eligible to apply
PPP Round one (1) recipients (PPP1) may apply for another loan of up to $2 million, provided they:             
  •  Have 300 or fewer employees.         
  •  Have used or will use the full amount of their first PPP loan.       
  •  Can show a 25% gross revenue decline in any 2020 quarter compared with the same quarter in 2019.
  •      
First-time PPP borrowers will also permitted from the following groups:      
  • Businesses with 500 or fewer employees that are eligible for other SBA 7(a) loans.    
  • Sole proprietors, independent contractors, and eligible self-employed individuals.    
  • Not-for-profits, including churches.         
  • Accommodation and food services operations (those with North American Industry Classification System (NAICS) codes starting with 72) with fewer than 300 employees per physical location.  

PPP loan terms           
               
As with PPP Round 1 (PPP1), the costs eligible for loan forgiveness in PPP Round 2 (PPP2) include payroll, rent, covered mortgage interest, and utilities. 
 
PPP2 also makes (adds) the following potentially forgivable:       
  • Covered worker protection and facility modification expenditures, including personal protective equipment, to comply with COVID-19 federal health and safety guidelines.  
  • Expenditures to suppliers that are essential at the time of purchase to the recipient’s current operations.  
  • Covered operating costs such as software and cloud computing services and accounting needs.   
               
To be eligible for full loan forgiveness, PPP borrowers will have to spend no less than 60% of the funds on payroll over a covered period of either eight (8) or twenty-four (24) weeks — the same parameters PPP1 had when it stopped accepting applications in August.
       
PPP borrowers may receive a loan amount of up to 2.5 times their average monthly payroll costs in the year prior to the loan or the calendar year, the same as with PPP1, but the maximum loan amount has been cut from $10 million in the first round to the previously mentioned $2 million maximum. PPP borrowers with NAICS codes starting with 72 (hotels and restaurants) can get up to 3.5 times their average monthly payroll costs, again subject to a $2 million maximum.
 
​

Simplified application and other terms of note              
               
 The new COVID-19 relief bill also:          
  • Creates a simplified forgiveness application process for loans of $150,000 or less. Specifically, a borrower shall receive forgiveness if a borrower signs and submits to the lender a certification that is not more than one page in length, includes a description of the number of employees the borrower was able to retain because of the loan, the estimated total amount of the loan spent on payroll costs, and the total loan amount. The SBA must create the simplified application form within 24 days of the bill’s enactment and may not require additional materials unless necessary to substantiate revenue loss requirements or satisfy relevant statutory or regulatory requirements. Borrowers are required to retain relevant records related to employment for four years and other records for three years, as the SBA may review and audit these loans to check for fraud. 
  • Repeals the requirement that PPP borrowers deduct the amount of any EIDL advance from their PPP forgiveness amount. 
  • Includes set-asides to support first-time and second-time PPP borrowers with 10 or fewer employees, first-time PPP borrowers that have recently been made eligible, and for loans made by community lenders. 
Tax deductibility for PPP expenses
The bill also specifies that business expenses paid with forgiven PPP loans are tax-deductible. This supersedes IRS guidance that such expenses could not be deducted and brings the policy in line with what the AICPA and hundreds of other business associations have argued was Congress’s intent when it created the original PPP as part of the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136 (see the Dec. 3 letter from the AICPA and state societies to congressional leaders). 
               
The COVID-19 relief bill clarifies that “no deduction shall be denied, no tax attribute shall be reduced, and no basis e shall be denied, by reason of the exclusion from gross income provided” by Section 1106 of the CARES Act (which has been redesignated as Section 7A of the Small Business Act). This provision applies to loans under both the original PPP and subsequent PPP loans.
0 Comments

Will Increases in Unemployment Taxes Derail Small Business Recovery?

12/17/2020

0 Comments

 
​As many employers look to closeout and forget 2020, Maryland employers face yet another challenge as a sizeable hike in unemployment tax rates is coming in 2021.
https://ramlcpa.link/da6ef
The Maryland unemployment tax rate is set
to increase from $25.50 to $187 per employee
​for 2021, an almost 7.5 times increase*.
​For a business with 50 employees, this means an extra $8,075 ​will have to be paid in for 2021.
Tweet This!
Tweet
Picture
It's important to note that Governor Hogan signed an executive order (copy below, FAQs) that excludes 2020 employer data from the formula used to determine the 2021 unemployment rate. If the Governor had not done this, all employers would have had an even higher tax rate for 2021.
For employers with zero claims over the prior three (3) years (the measurement period will remain 2017, 2018, and 2019, for 2021) the per annual amount due per employee will increase from $25.50 to $187 per employee for 2021, which is almost 7.5 times the 2020 experience rate.
​While obviously not good news, at first glace it might not sound all that punitive at first glance. However, imagine you have 50 employees, all of which require an unemployment contribution. That comes out to an extra $8,075 that employers will have to pay in for 2021. In higher turnover businesses such as retail and hospitality, it's very possible to have on average 10 to 15 employees per year, but because of attrition this equals 50 or more total employees per year, all of which require their own unemployment contribution.

While unemployment rates will reduce over time as we saw a similar situation occur during and after the financial crisis (great recession). Unfortunately, in the short term, this is one more hit businesses are going to have to contend with.
Consider these tips to help offset these costs:
​

1) Have a plan for 2021, as no plan almost always means no success, and those who are successful are just incredibly lucky.
2) Investigate ways to streamline operations & improve efficiency in the short and medium term. No is not the time for long term decision making if possible, as there is still much uncertainty.
3) Review and make cash savings measures (both for the business, and personally), and do the easiest ones immediately. This doesn't mean slash essential services, but it means giving up the luxuries.


Contact us if you need help with these or similar small business savings strategies.

Small Business Finances

Unemployment Benefits

Unemployment Insurance

Unemployment Taxes

Maryland Unemployment

Employer Benefits
0 Comments

Better Peace of Mind in Six Steps

12/4/2020

0 Comments

 
https://ramlcpa.link/oue​
Six Ways to Increase Your Financial “Pillow Factor” | Michael Kay
4. Knowing your numbers. While dealing with budgets and financial issues might put you to sleep, nothing adds to greater restfulness than having at least a decent working knowledge of what’s coming in, what’s going out and how you’re moving towards your big goals ...
Tweet This!
Tweet
Picture
It's a fallacy to think that you achieve absolute security and complete peace of mind, especially with your finances. You can prepare and save huge sums of money only to find out it was enough to cover situation X, but situation Y, the one you hadn't considered, not even close. If the pandemic taught us anything, it's that no industry, business, or our economy is immune from significant disruption given the right circumstances. 

That said, there are steps we can take to better address the inherent risk we face in and our lives and especially with our finances,  The below list comes from an article by Michael Kay and while I've used these points when providing professional advice, the way they're stated here is unlike how they're normally presented by an accountant or financial planner. I especially appreciate items #2, #4.and #6 as they don't require a degree in accounting or finance to see their importance.
  1. Having a suitable cushion of liquid savings for emergencies and unanticipated life events, such as job loss, significant cost for a home or car repair, uncovered medical expenses or the ability to help someone in your family who suffers an unexpected loss.
  2. Having your big risks covered. Nothing is more destabilizing to a family than the sudden death or disability of a significant earner. Where and how will the income be replaced when it is suddenly removed from the family’s cash flow?
  3. Keeping your debt in check. Nothing spells insecurity more than facing revolving credit card bills month and after month and never seeing an end in sight.
  4. Knowing your numbers. While dealing with budgets and financial issues might put you to sleep, nothing adds to greater restfulness than having at least a decent working knowledge of what’s coming in, what’s going out and how you’re moving towards your big goals; think retirement security, college for the kids or other meaningful pursuits.
  5. Putting your estate in order. Whether you have big bucks or just getting started, there are really good reasons for having a Will, Powers of Attorney and an Advanced Healthcare Directive. Put a big exclamation point on it if you have children. Making sure you’ve addressed issues like Guardians and Trustees, while it might never be necessary, reaches the highest magnitude of importance if it comes to that.
  6. Being able to talk to your spouse/partner/significant other about money. Let’s face it, we grow up with different understanding and experiences concerning money. Some face poverty and others are raised in wealth; some see flagrant spending, while others see penny-pinching as normal. We all grow into adulthood with a different set of money messages. Having a money conversation that doesn’t cause arguments, discomfort, accusations or frustration is an art, not a science. It requires the willingness and ability to listen and understand another’s point of view without judgement. Once you master the ability to talk about goals, fears, spending, savings and other related money conversations, life becomes easier.

Personal Finances

Retirement Savings

Financial Planning

Money Management
Plans and Goals
0 Comments

OSHA Frequently Cited Standards Related to COVID-19 Inspections

11/19/2020

0 Comments

 
By understanding which workplace hazards have most often resulted in OSHA citations, employers â€‹can better ensure that they are adequately protecting workers. â€‹
Tweet This!
Tweet
Picture
  1. Provide a medical evaluation before a worker is fit-tested or uses a respirator.
  2. Perform an appropriate fit test for workers using tight fitting respirators.  
  3. Assess the workplace to determine if COVID-19 hazards are present, or likely to be present, which will require the use of a respirator and/or other personal protective equipment (PPE). 
  4. Establish, implement, and update a written respiratory protection program with required worksite-specific procedures.  
  5. Provide an appropriate respirator and/or other PPE to each employee when necessary to protect the health of the employees (ensuring the respirator and/or PPE used is the correct type and size). 
  6. Train workers to safely use respirators and/or other PPE in the workplace and retrain workers about changes in the workplace that might make previous training obsolete. 
  7. Store respirators and other PPE properly in a way to protect them from damage, contamination, and, where applicable, deformation of the facepiece and exhalation valve.  
  8. For any fatality that occurs within 30 days of a work-related incident, report the fatality to OSHA within eight hours of finding out about it. 
  9. Keep required records of work-related fatalities, injuries, and illness.
OSHA 1-Page Frequently Cited Issues
OSHA Full Report

Employer Liability
Risk Management

PPE

COVID-19

OSHA

0 Comments

3 Year-End Tax Tips for Contractors

11/6/2020

0 Comments

 
URL: ramlcpa.link/y1x
3 Year-End Tax Tips for Contractors
Tweet This:
Tweet
Picture

1) Make sure your mileage log is in order for the first 10 Months of 2020. Waiting is only going to give you more work to do later, plus it will give you a good idea of your total mileage expense for the year.

2) Get W-9's now from contractors you need to 1099 at year-end. Waiting until after year-end makes it much more likely that you'll never get them, especially if the contractor will not be working with you again.

3) Identify expenses to be paid by year-end to lower your taxes. This is a key tax planning step and one of the easiest to do, as paying expenses by year-end, vs. in January will give you a deduction in 2020.

1099

Contractor

Tax Tip

Deduction
Year End
0 Comments

2021 Tax Brackets

10/28/2020

0 Comments

 

Courtesy of the Tax Foundation | https://ramlcpa.link/jq2

2021 Federal Income Tax Brackets and Rate
In 2021, the income limits for all tax brackets and all filers will be adjusted for inflation and will be as follows (Tables 1). The top marginal income tax rate of 37 percent will hit taxpayers with taxable income of $523,600 and higher for single filers and $628,300 and higher for married couples filing jointly.
2021 Federal Income Tax Brackets and Rates for Single Filers, Married Couples Filing Jointly, and Heads of Households
'> 2021 Tax Brackets
2021 Standard Deduction and Personal Exemption
​The standard deduction for single filers will increase by $150 and by $300 for married couples filing jointly (Table 2).
The personal exemption for 2021 remains eliminated.
2021 Standard Deduction
​2021 Alternative Minimum Tax
The Alternative Minimum Tax (AMT) was created in the 1960s to prevent high-income taxpayers from avoiding the individual income tax. This parallel tax income system requires high-income taxpayers to calculate their tax bill twice: once under the ordinary income tax system and again under the AMT. The taxpayer then needs to pay the higher of the two.

The AMT uses an alternative definition of taxable income called Alternative Minimum Taxable Income (AMTI). To prevent low- and middle-income taxpayers from being subject to the AMT, taxpayers are allowed to exempt a significant amount of their income from AMTI. However, this exemption phases out for high-income taxpayers. The AMT is levied at two rates: 26 percent and 28 percent.
​
The AMT exemption amount for 2021 is $73,600 for singles and $114,600 for married couples filing jointly (Table 3).
2121 AMT
In 2021, the 28 percent AMT rate applies to excess AMTI of $199,900 for all taxpayers ($99,950 for married couples filing separate returns).
AMT exemptions phase out at 25 cents per dollar earned once taxpayer AMTI hits a certain threshold. In 2021, the exemption will start phasing out at $523,600 in AMTI for single filers and $1,047,200 for married taxpayers filing jointly (Table 4).
2021 Alternative Minimum Tax Exemption Phaseout Thresholds
2021 AMT Phaseout
​2021 Earned Income Tax Credit Parameters
​The maximum Earned Income Tax Credit in 2021 for single and joint filers is $543, if the filer has no children (Table 5). The maximum credit is $3,618 for one child, $5,980 for two children, and $6,728 for three or more children. All these are relatively small increases from 2020.
2021 Earned Income Tax
​​2021 Child Tax Credit
The child tax credit totals at $2,000 per qualifying child and is not adjusted for inflation. However, the refundable portion of the Child Tax Credit is adjusted for inflation but will remain at $1,400 for 2021.
​2021 Capital Gains Tax Rates & Brackets (Long-Term Capital Gains)
Long-term capital gains are taxed using different brackets and rates than ordinary income.
2021 Capital Gains Tax Rates
2021 Qualified Business Income Deduction (Sec. 199A)
​
The Tax Cuts and Jobs Act includes a 20 percent deduction for pass-through businesses against up to $164,900 of qualified business income for unmarried taxpayers and $329,800 for married taxpayers (Table 7).
2021 QBI
2021 Annual Exclusion for Gifts
​
In 2021, the first $15,000 of gifts to any person are excluded from tax. The exclusion is increased to $159,000 for gifts to spouses who are not citizens of the United States.

Tags
income tax
​​taxes
  QBI
irs
tax
tax credit
AMT
standard deduction
 capital gains
tax brackets
0 Comments

Tips For Getting 2021 Sales Off To A Fast Start

10/21/2020

0 Comments

 

Time sensitive advice regardless of what and how you sell, and why sales enablement plays a key part in your business success.

Forrester Blog Post: ramlcpa.link/z9yn
The timing of the Forrester blog post is almost just as good as the message. While the events of 2020 impacted the entire world, winners and losers have emerged which happens almost always with any kind of major event. A significant issue with COVID is the list is heavily skewed to few (bigger and better capitalized businesses) winners, and far too many losers.

That's a bit of what drew my attention to this post  as while we continue to deal with new waves of the pandemic, we're also entering a critical business phase with many businesses intently focused on the upcoming holiday shopping season and making the most of Q4 2020. However, if that is to the detriment of 2021, it could be disastrous.
All too often businesses (especially small businesses) expect Q4 to be the quarter that you make up for the rest of the year, but it often comes as a detriment to sales in the first part of the following year. Why, well everything else is secondary, and plans and strategies are often developed to late in the process with the new year just a couple weeks away or already here. Additionally, because the plans come together in a hasty manner, lessons learned, new insights, and data analysis are glossed over, thus causing more problems in the new year.

To this point, since the events of this year destroyed most business plans in early 2020, almost all businesses have been stuck in a cycle of reacting to each problem without solving them.  While that's not going to change much for the rest of the year, to get any kind of control over the situation in 2021, the process needs to start now and include plenty of planning and analysis.

A few of the key areas Stephanie highlighted that can be adopted by almost any business are:
  • Develop a yearlong [channel] sales enablement plan - If we're honest most businesses don't even know what sales enablement is, and when an individual or business is not selling or missing sales targets, it becomes convenient to use any excuse imaginable without considering your own deficiencies. The fact is, if you're not prepared to sell and sell effectively the chances of you meeting or exceeding your sales targets is unlikely. If you don't know where to start with sales enablement here is a link to a great resource I posted in a LinkedIn post. At a minimum it will get you moving in the right direction and leave you much better off regardless of knowledge on the subject.
​
  • Refine your [channel] sales strategy - The post mentions "to ensure it's alighted with the company's sales goals and objectives" and "This includes centering your strategy on meeting the need of your target customers or buyers", which is 100% true,  I would only add, to make sure your strategy aligns with market conditions and the possible changing needs of your customers or clients. 

Personally, I believe these points can be applied to any business by adding or dropping a few words or terms.

One of my own that I will add and important to keep in mind:
  • Consider an alternative & more flexible sales strategy for 2021 - The point being, a measure of uncertainty (likely great, and elevated for a while) is going to follow us into 2021, even with all the best news possible for the remainder of the year. A quick and easy way to start this is by utilizing some or all of the strategies in the book "the 12 week year" (link to the 41 page summary). While there is no guarantee for success, by focusing on quarterly goals, learning along the way, and applying & modifying what you've learned in subsequent quarters, a framework and pathway for better business results in the future can be developed, something we need now more than ever.
#sales #strategy #pandemic #covid19 #salesenablement #businessplan #smallbusiness #business #budget
Picture
Blog post: https://ramlcpa.link/clj
Picture
0 Comments

How you can protect your business if a large client can't pay or goes Under?

9/24/2020

0 Comments

 

12 Crucial Actions to Protect Your Business 

How to Move On After Losing a Big Client. The list below comes from Young Entrepreneur Council (YEC) and provides a good reference point in establishing an action plan.

​https://ramlcpa.link/o7i7
Picture
1. Get a Guarantor for the Contracts
2. Ask for Payment Upfront
3. Get a Lawyer
4. Begin Negotiating ASAP
5. Ensure Constant Communication
6. Get a Realistic Projection
7. Offer a Reduced Payment
8. Auto-Charge Credit Cards
9. Restructure Your Payment Terms
​10. Get Trade Credit Insurance
11. Move On and Find New Clients
12. Diversify Your Client Base

#business #businessowner #smallbusiness #clients #COVID-19 #Coronavirus #negotiations #riskmanagement #lossprevention #creditinsurance #tradecredit #insurance #negotiations #restructure #restructuring  ​​
Picture

0 Comments

REI's Decision to Not Occupy its New Campus is an example of value opportunities only available during a downturn

8/17/2020

0 Comments

 

Additionally, I see more situations like this (big and small) on the horizon as some of the best opportunities of our lifetimes are going to be available at deep discounts! | https://ramlcpa.link/d2yh

Picture

REI's decision not occupy it's brand new work campus, and instead sell it is a great example of the type of value business and their advisors should be preparing for.

With this facility, another larger company can get an almost unreal opportunity of a fully designed and customer business campus at a fraction of the full development cost. Even if a company wanted to personal or make some changes to fit their brand, those changes are likely minor in scope of the project.


I can easily see the right developer looking at this with the wheels turning in their head with the desire to make it mixed-use facility at a fraction of the full development price.

You think someone would want to do this now, during the #Pandemic?

Absolutely, deals and opportunities likely this only become available during times of #economic #recession and #depression and the beauty of this concept is it could eliminate the #WFH and #socialdistancing concerns for #businesses that have employees that live or stay in the space.

I also have great empathy for those that are losing much if not all of their lives work. 


Can some of these opportunities include helping those hurt most?

Absolutely especially if the person is deep in knowledge or skill and is better or worse at certain aspects of running a business the compliment your skills and abilities.  You would then be getting this personal knowledge and skill at a discount, but it can also help you reach new heights and making it a win-win for all involved. 
This will almost certain be exception, however we're all going to be or have friend or family affect by the economic impact of COVID19, but by being humble and helpful businesses and their accountants and advisors can be in a better position to help those hurt the most.


 
Original Article | https://ramlcpa.link/24jy
#ramlcpa #realestate #commericalproperty #REI ​

REI's Decision to Not Occupy its New Campus is an example of value opportunities only available during a downturn
QR Code to this blog post

0 Comments
<<Previous

    RSS Feed

    View my profile on LinkedIn

    Travis Raml, CPA

    ​

    Archives

    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    April 2020
    March 2020
    January 2020
    July 2019

    Categories

    All
    Business Information
    Business Planning
    CARES Act
    Coronavirus
    Covid 19
    Covid-19
    Income Tax
    Insurance
    IRS
    Pandemic
    Personal Finances
    Personal Protective Equipment
    Real Estate
    Restructuring
    Retirement
    Risk Manangement
    SBA
    Skills & Qualities
    State Taxes
    Stimulus
    Tax Credits
    Tax Deductions
    Tax Planning

    RSS Feed

    Follow me on Blogarama

CPA Firm Services

Accounting Services
​Tax Services
​Tax Representation
​CFO & Advisory
​Financial Consulting
​​
DCAA Compliance
Incorporation

​Payroll Services
Coaching & Training
Growth & Wealth

Industries we Serve

Doctor & Physicians 
Dental Practice
Consulting Firms
​Law Firms
​DCAA & Governments Contractors  
​Real Estate
Pay Invoice
COLUMBIA MD ACCOUNTANT & CPA FIRM SUMMARY
Travis Raml, CPA & Associates, LLC
is an accounting firm in Columbia MD which offers, tax services, outsourced CFO, outsourced controller, businesses advisory, and coaching services to businesses and individuals thorough out the Greater Washington, DC and Baltimore, MD area. We also provide service in Ellicott City, Columbia, Annapolis, Severn, Odenton, Crofton, Silver Spring, Rockville, Bethesda, Gaithersburg, Potomac, Reston, Tysons Corner, Fairfax, Alexandria, Arlington. We're also a local cpa firm conveniently located in Columbia Maryland directly across from Columbia Mall.
​
Travis Raml, CPA has been an accountant since 1998 and a certified public accountant (CPA) since 2003 and prides his firm on delivering high quality small business CPA services. He specializes in Columbia Tax Preparation, and Columbia Maryland Accounting Firm.


Support

Phone:
​ +
1(443) 927-9161

​Fax:            
​ +
1(443) 927-9152
Request & Schedule a Meeting

Contact Us
About Us
Blog

  • Home
  • Services
    • Accounting & Financial Statements
    • Tax Preparation & Planning
    • CFO & Advisory Services
    • Financial Consulting Services
    • Tax Representation & Resolution
    • Incorporation & Business Setup
    • DCAA & Government ContractING
    • Coaching & Training
    • Growth & Wealth Management
    • Payroll Services
  • Contact Us
  • Industries
    • Doctors & Physicians
    • Dentists & Dental Practices
    • Management Consulting Firms
    • Lawyers and Law Firms
    • DCAA & Government Contracting
    • Real Estate
  • About Us
  • Blog
  • Resources
  • Schedule Meeting