We help companies all over Georgia identify and obtain tax credits. Tax credits maximized. Risk minimized.

Archive for September, 2011

When in Doubt, Get Horizontal!

Filed under: Management
September 29, 2011

We have been reading an interesting book by Andy Kessler called Eat People: And Other Unapologetic Rules for Game-Changing Entrepreneurs (get it here). Kessler introduces several fascinating new ways for businesses to think in today’s economy.

One of his 12 key rules is “When in Doubt, Get Horizontal.”  The old-line vertically integrated business (in your case, the “full service accounting firm”) model is dying. If there is something you do really well, why not sell, sub-contract, re-package, or outsource it to others??? Then let somebody else worry about the infrastructure, billable hours, collections and other headaches that don’t bring in revenue. Your horizontal offering can now be sold everywhere.

Here is an example I frequently see: professional services corporations (PC or PA) that are C-corporations, such as physician practices. They can’t utilize the Georgia Retraining Tax Credit since they pay limited Georgia income taxes.

Well, I went out and found a CPA firm with the expertise to help these practices convert from a C-corporation to an S-corporation, and it has a great ROI (won’t bore you with details here). Unfortunately, I can’t introduce this CPA firm to a client of another CPA firm without causing trouble, if you know what I mean! But, if this were a separate, self-contained offering, then other CPA firms might well want to bring it to their clients who need it. This same concept could potentially be leveraged nationally.

What capabilities do YOU have sitting on your “full service” bench that could bring in more revenue? Think horizontal, not vertical to bring in more revenue!

 

Competitiveness Initiative Update

Filed under: Job Tax Credit,Policy,Retraining Tax Credit
September 29, 2011

I recently spoke with Guy Griswold, President of Blue Ridge Strategies, a Georgia-based public affairs firm (check them out here). We are working with his firm on legislative areas that impact tax credits, and he gave me a great synopsis of the GCI and progress to date:

Governor Deal chartered the Georgia Competitiveness Initiative (GCI) as a joint effort of the Georgia Department of Economic Development and the Georgia Chamber of Commerce.

GCI’s mission is to bring state and local governments and the business community together to develop a long-term strategy for economic development and business prosperity for our state.

GCI has completed its circuit of 12 listening sessions across the state, with its last meeting held on August 31st in West Point.

We have worked throughout the process to ensure preservation of Retraining and Jobs Tax Credits, and we will continue to promote the benefits that these credits have brought Georgia companies.

The Carl Vinson Institute of Government (part of UGA) is compiling all of the input and feedback from the 12 listening sessions for use by the Initiative Committee members as they begin developing their recommendations, which are expected to be released by the beginning of 2012 in concert with the start of Georgia’s legislative session.

If you have specific examples of how tax credits have helped your business or the business of your clients grow, we would like to include those in our discussions with committee members.

Thanks, Guy!

Healthcare — Changes for Us

Filed under: Management,Other Incentives
September 29, 2011

We are ramping up our healthcare initiatives and would like to introduce Suzy Evans as our newest team member. With over 15 years of extensive experience in specialty areas such as Oncology, Cardiology, Gastroenterology and Endocrinology, Suzy is heading up our business development efforts for healthcare. Also, see our new healthcare section on our website: (click here).

We are actively participating in many organizations and events, including Georgia MGMA, Georgia HIMSS, and Healthcare Solutions Resource Forum (HSRF, click here).

Recently we have partnered with the Georgia Heath Information Technology Regional Extension Center (GA-HITREC, click here). This organization, based at the Morehouse School of Medicine, assists physician practices in their journey to Meaningful Use, one of the federal government’s new incentive programs for healthcare providers. We are assisting with the Georgia tax credits for these practices.