Following are the dates for the 2014 Leadership Institute for Women is about strategic planning and growth.

March 3 | Kellogg | One Kellogg Square | Battle Creek, MI 49017
March 6 | Lear Corporation | 21557 Telegraph Road – Building 400 | Southfield, MI 48033-6817

The market continues to evolve and change. It’s more diverse, consumer-centric and demanding. While B2B remains critical and is crucial to the company’s overall business plan, communicating directly to buyers is essential to an organization’s success. Buyers are more discerning, want to be communicated to on their terms and are more likely to respond to relevant messaging and vehicles. Developing and implementing a strategy to guide you through the changing dynamics of an increasing competitive market is essential.

This session will focus on the foundations of the strategic planning, the process and its role in achieving growth. Additionally, the importance of identifying, building and enhancing relationships with existing and potential consumers will be addressed. We will also discuss how a strategic marketing plan is the basis for developing an integrated communications plan focused on effectively communicating delivering key messages within the B2B or B2C’s segments.

Our presenter: Mark S. Lee, a Detroit native, is President & CEO, The LEE Group, MI LLC, an independent integrated marketing consulting firm focused on providing marketing, branding and communication solutions to clients. His blog, “Small Talk with Mark S. Lee”, appears via blog for Crain’s Detroit Business. In addition to being a noted public speaker, Lee is an adjunct professor of Marketing, at Walsh College, in Troy and he’s also an adjunct professor at Eastern Michigan University.

Participants will learn:

· The Essence of Strategic Planning

· How to effectively develop a strategic planning process for success

· Key Components of a strategic plan

· Simple steps to create a Strategic (Marketing) Plan

· Key Criteria to use to Measure and Benchmark Success

· Key 2014 Trends for Consideration

Next up is the highly rated Corporate Panel Discussion, moderated by Michelle Richards, CEED’s Executive Director and WBEC – Great Lakes President. The panel of corporate buyers that will share real talk on what it takes to do business with their companies and the following will be covered by the corporate procurement professionals:

· What does it take to do business with their companies

· In what industries are you seeking suppliers

· Tips on breaking through with the first contract

· Questions and answers

A Growth Exercise will be combined with lunch. We will break out into smaller teams for a working lunch with colleagues and a corporate leader. The objective of the working lunch is to debrief the morning’s presentation and panel discussion with each other. After lunch everyone will stay in their designated group for an exercise that will consist of composing a teaming proposal together. The group will select a leader to present the proposal, thereby allowing everyone to benefit from each group’s gained knowledge.

Registration will open at 8:15 am, Leadership Institute will start at 9:00am – 4:00pm, followed by a Networking Reception 4:00 to 5:00 pm. Registration costs $100.00. Continental breakfast, lunch and materials are included.

This training is designed to take woman business owners to the next level in their business through strategically thinking on how to position their company for growth. For additional information contact Deb Loeser, Women’s Business Center and Michigan Women’s Marketplace Manager at 734.838-3860 or dloeser@miceed.org.

Emerging Leaders Logo Registration is Now Open!

The SBA is funded for the sixth consecutive year to offer the e200 Emerging Leaders executive level training initiative. The goal of the program is to identify existing urban based small businesses that show a high potential for growth and to provide them with the network, resources and motivation required to build a sustainable business of size and scale. There are 15 slots open for businesses that meet the following criteria:

…..At least $400,000 in annual sales
…..At least 3 years in business
…..At least 1 employee in addition to the owner

Applicants must be located in Detroit, Hamtramck, Highland Park, Flint, Inkster or Pontiac.

Participant must be a key decision maker within the company such as the CEO, COO, CFO, Owner, President.

The program requires participants commit to at total 100 hours, including 40 hours of in class training, 7 CEO mentoring meetings, and course work assignments. Classes begin April 28 and run through November 3. At the end of the program, participants will have a three year strategic plan tailored to their business. They will also be introduced to a network of business resources they can tap into going forward. There is no charge to participants for the training.

NOTES FROM OUR GRADUATES:

“e200 has helped my company by providing the tools that can be utilized to address ALL aspects of any new or existing business. I am fortunate to have been a part of this program and will use the vast knowledge I have gained to enhance my business in addition to helping other aspiring entrepreneurs” Bellandra B. Foster, Ph.D., PE., President and Principal Engineer BBF Engineering Services, P.C.

HOW THE e200 HELPED OUR BUSINESS!!

“After the financial module was over, we immediately applied for and received a working capital loan from the Huntington Bank. This was very timely.

One of the strategic steps proposed and actually taken was forming a Joint Venture agreement with another firm, which resulted in getting short-listed on two Federal Contracts in Michigan and Ohio.

The program showed us the Financial Scorecard/Dashboard System, which gives the Big Picture at a Glance. This is a very powerful planning tool, and helps us detecting errors, incompetence, and even fraud.” Vijay Mahida, President, EMLS

To apply for consideration to be accepted in the program online go to: http://www.interise.org/SBAEmergingLeaders

Classes begin April 28, 2014, and will be held at
TechTown, 440 Burroughs, Detroit MI 48202

We hope to have all applicants selected by March 28, 2014

To learn more Contact:
Nancy Grose, nancy.grose@sba.gov
SBA Emerging Leaders webpage: http://www.sba.gov/content/sba-emerging-200-initiative

Many thanks to our co-sponsors:
Automation Alley
Center for Empowerment and Economic Development
Detroit Economic Growth Corporation
Detroit Regional Chamber
Michigan Black Chamber of Commerce
Michigan Economic Development Corporation
Michigan Minority Supplier Development Council
Michigan Small Business Development Center
SCORE
TechTown

You’ve delivered gently used items to organizations such as Salvation Army and Goodwill, and you want to include those donations on your tax returns.

What value should you give a pair of pants, toys, a microwave oven, or couch?

This guide from the Salvation Army may be able to help!

http://satruck.org/donation-value-guide?utm_source=Monthly+-+January+2014&utm_campaign=News+Alerts&utm_medium=email

The Italian city of Verona, where Shakespeare’s lovers Romeo and Juliet lived, receives about 1,000 letters addressed to Juliet every Valentine’s Day.

The oldest surviving love poem to date is written in a clay tablet from the times of the Sumerians around 3500 BC.

In Medieval times, girls ate unusual foods on St Valentine’s Day to make them dream of their future husband.

On average, men will spend $130 each on candy, cards, jewelry, flowers and dates.

One-third of all Valentine’s Day cards are accompanied by gifts.

Oakland CountyMichigan Small Business & Technology Development Center ( SBTDC)

February 13, 2014

The U.S. Small Business Administration and the Michigan Small Business & Technology Development Center are pleased to offer a free TEAM SBA Roundtable on Small Business Lending at::

Oakland County SBTDC
2100 Pontiac Lake Rd. Bldg. 41, Waterford, MI 48328
February 13, 2014 from 9:00 a.m. to Noon.

The roundtable gives current or prospective small business owners insight into the SBA Guaranty Loan Program and the criteria used by loan officers to evaluate a loan request. A team of experts will demystify the lending process, debunk the myths about SBA programs, and share real life examples of successful loan applicants. The roundtable is taught by experienced lenders with expertise in small business and SBA financing. “What’s unique about the roundtable is the access to the SBA and small business lenders,” said Gerald Moore, Michigan SBA District Director. “Every roundtable is different and each is tailored to the needs of the participants. It’s a very interactive process and one of our top rated training events.” Over 2,000 clients have attended the roundtables since 1998. The roundtable is best suited to those seeking financing for their business, have good credit, a solid business idea, and some money to invest in the business.

For more information or to register online for this free seminar, Team SBA or call 248.858.0783. Please note: SBA does not provide loan guarantees to real estate investment companies and this topic will not be part of the discussion.

Qualifying business clients have until Monday, February 10 to file for a new exemption from the state’s personal property tax (PPT).

Lawmakers approved the exemption in 2012 because the PPT in effect double-taxes businesses on equipment such as computers, vehicles, desks and machinery, and is a disincentive to invest in Michigan. The exemption took effect Dec. 31, 2013 for the 2014 tax year.

In addition to the state’s 6 percent sales tax, Michigan businesses pay personal property taxes on equipment not just once, but every year. They pay the PPT for as long as they own the equipment, no matter how old it gets.

Under the new exemption, businesses that own, lease or possess commercial and industrial personal property with a market value of less than $80,000 may eliminate their 2014 PPT bill. To be eligible, businesses must file the MI Treasury Form 5076 (Affidavit of Owner of Eligible Personal Property Claiming Exemption from Collection of Taxes) BY FEBRUARY 10th.

Businesses that qualify for the exemption by filing the affidavit on time are not required to file a Personal Property Statement. However, they are required to maintain adequate books and records on their equipment.

The affidavit form and information sheet are available at www.michigan.gov/taxes under Personal Property Tax Exemptions – Recent Legislative Changes.

There is some confusion at the State level as to whether the document needs to be IN LANSING by the10th… or POSTMARKED by the 10th. Our advice is to be certain that yours is in the mail today or tomorrow to grab this get-out-of-tax-filing-jail-free card.

The IRS has unveiled a new campaign in its ongoing battle against tax-related identity theft, offering a limited pilot program to give taxpayers in high-risk areas a broader opportunity to apply for a special security PIN number.

The program is available to help taxpayers in Florida, Georgia and the District of Columbia—the three U.S. jurisdictions with the highest per-capita percentage of such theft, the IRS said. Details can be found on the IRS website… www.irs.gov.

The IRS said this extra security would be available to any taxpayer who filed a tax return from one of these three states last year and obtains an e-file PIN to use in filing this year’s return—but taxpayers must apply for it. The Identity Protection PIN will not be issued until taxpayers selected for the pilot program have verified their identity by answering a series of questions online.

Filing a return without an Identity Protection PIN shouldn’t delay processing, the IRS said, noting that the “vast majority” of taxpayers don’t need an e-file PIN to file their taxes.

In some cases, the Service said, a taxpayer must obtain an e-file PIN if they need to e-file a tax return or other electronic forms, but don’t have their self-selected PIN or adjusted gross income from their 2012 tax return to verify their identity.

In these cases, the taxpayer may request an e-file PIN on the IRS website.

1. USING PAPER AND PENCIL. Amazing but true… some 20% of tax filers still fill out returns by hand. Math errors… transposed numbers… forgetting to sign and date the return… are more common on hand filed tax returns.  Electronic filers get their refunds more quickly and are less likely to be victims of identity theft because the return goes directly from you… through a 3rd party… to IRS in bits and pieces of electronic data. Not a whole page of data in detail.

2. CHOOSING THE WRONG TAX PREPARER.  Are you a do-it-yourself person? Tax software is great if you are comfortable doing taxes on your own… with phone support. Remember that in IRS phone support 1 out of 4 answers are wrong. Hopefully your software company will do better.

So if you decide to use a tax preparer… who to choose?

a. A kitchen table preparer who does not sign your return? Cheap but not wise. You are liable for their mistakes.

b. Choose an Enrolled Agent (EA) or certified public accountant (CPA) Both have education requirements to maintain their licenses. Yes costs will be higher… but you will be in much better hands. Remember that an EA is actually a tax specialist!

3. WAITING TOO LONG TO GET STARTED. Early filers get their refunds faster. Delaying your preparation leaves you racing around at the last minute looking for information. If you seek help, your preparer will have less time and energy to deal with your issues if you arrive at the 11th hour. Don’t be surprised if they simply put you on extension to get past April 15th!  And don’t fight that choice.  It is better to have your preparer rested and clear thinking when they work on your return!

4. KEEPING INADEQUATE RECORDS THROUGHOUT THE YEAR. You can’t fix this one for 2013…but can and SHOULD make a new commitment for 2014 to keep better records. Without good records your write-offs will not survive an audit. Business… Medical… Donations worth more than $250… all require extra care. If your records are in disarray for 2013, begin now to gather everything together. It may take longer than you think it will!!!! AND commit to doing a better job for 2014. If you need help in this area, ask for help! What you pay for assistance will pay dividends in tax that you will not owe next year when you file your tax return.

5. SELECTING THE WRONG FILING STATUS. Surprisingly, this is not uncommon! And an incorrect choice can cost you money…either now (because you pay too much tax) or later (because you got more money back now… but could not use the filing status that you used and have to pay the refund back PLUS interest and penalty later!)

6. ASSUMING THAT YOU CANNOT ITEMIZE. Many items can push you over the threshold to benefit from itemizing. Although more people are using the standard deduction amount because of its annual increases, we check everyone every year… just to be sure which way of filing gets the larger refund.

7. FAILING TO DOUBLE CHECK YOUR WORK. Computer programs are great at catching math errors, but they will not know if you have transposed the digits on your Social Security number or incorrectly transferred numbers from your W-2. Two or three times a filing season, we try to electronically file a persons tax return only to have it rejected because a social security number on the return has already been used. This could be a sign of identity theft OR simply someone who entered an incorrect social security number on their earlier filed return!

8. NOT PROPERLY SAFEGUARDING YOUR PERSONAL INFORMATION. Identity Thieves love tax season. Tax related identity theft is a growing problem. In the first half of 2013, IRS reported that identity theft affected 1.6M taxpayers, more than the number affected in all of 2012. Protect yourself from identity theft by avoiding shared computers (remember coffee shops and libraries are not secure sites)… not emailing your returns to anyone… and filing as early as possible.

9. FORGETTING TO KEEP A COPY OF YOUR TAX RETURN. If you have lost your copy of your return, IRS will send you a duplicate for $50 but it takes 10 weeks to get it! Keep a copy of your tax return! It can help you pull together your information for this year’s tax return. You may need it during this next year for many reasons…one of which is financing a home purchase.

9.

January 31st is opening day for filing of all income tax returns…personal or business. This is two weeks later than normal because of the government shutdown earlier this year… but open is open… and it is tomorrow.

OH YES… an aside… the END of the tax filing season is still April 15th.

Hopefully none of you tried to get a head start on filing your tax return. A paper filed return would not be processed until the 31st. It would go into a pile and who knows whether it will just sit there…lost…or be processed on a first-in/first-out or a last-in/first-out basis. Even our professional software just only recently had electronic filing available to us. We could do a return… but could not set up the electronic file.

So what is the story with this electronic filing process anyway? We find that clients fall into three camps… FIRST are those who are totally fine with electronic filing. They like the convenience of it… not having to mail anything… having it all handled electronically… especially the speedy deposit of refunds and delayed electronic payment of liabilities. You can even file electronically now (early) and mail your check in on April 15th!

THEN there are those who want NOTHING TO DO WITH IT! Age is not the determinate here… seniors happily electronically file… while younger folks refuse. It is a personal thing… but IRS is pushing for as many tax returns as possible to be electronically filed. Preparers are mandated to electronically file returns if they prepare more than 10 personal tax returns this year! The taxpayer actually has to sign an authorization demanding to paper file their return.

FINALLY there are those who are uncertain about the whole thing. So why the push for electronic filing? Because of its ease on the end of the filing process.

Back when I started my career, I took a field trip to visit the IRS office in Cincinnati, Ohio. It is actually partly in Cincinnati and partly across the river in Covington, Kentucky. But what amazed me at the time was the size of the return processing area! Picture yourself in Ford Field or if you are in a city other than Detroit, the major football stadium that your team plays at… then picture that arena filled from side to side and end to end with desks… no dividers… just desks… people… computers… and files… piles and piles of files. Michigan’s processing area at that time had a room the size of our entire office… filled with desks that had mail slots front/side to side where individuals opened and sorted tray after tray of mail. I cannot even imagine having to do that job!

Back in the day before electronic filing… it actually was amazing that things processed as efficiently and correctly as they did! But in the 80’s when the IRS began the electronic process our office was an early supporter. The reason? It meant that when we were done with a tax return… THAT RETURN made it into the IRS system. Only makes sense. Why have one person do the return and another have to re-input the data manually into the IRS computer? That process allows for inverted numbers… incorrect numbers… misspellings of names… on and on. And over the years, we saw it all.

The software companies have made the electronic process extremely efficient. Safeguards for your personal information have been developed. And remember your data goes electronically in bits and pieces making it more difficult to obtain than just “stealing” your paper return information.

So if you are uncertain… try it… you will like it! Especially when your refund arrives so quickly. REMEMBER to keep a copy of your return…electronically or on paper doesn’t matter. But you may need it later!