Contributed by Deanna Kelly, Office Manager
Before you file an Amendment to the Articles with the Secretary of State you have a couple things to consider:
• You will need signed Special Meeting Minutes and a Resolution in your book reflecting that the Board met and voted in favor of the Amendment.
• If you are changing the name of your corporation you will need to then update your corporate record book. You will need the new name on the book, the stock certificates & corporate seal.
You will also need to notify your bank, vendors and customers of the new name.
• If you are changing the amount or par value of the corporations stock you will need to replace and reissue stock certificates reflecting the current amount of stock/par value.
As always, record keeping is the life of your corporation. Any changes in the corporation need to be documented with a meeting, vote, minutes and a resolution. All need to be signed and placed in your corporate book behind the “Minutes” tab along with all your Annual Minutes in chronological order.
Should you need assistance with filing an Amendment or obtaining replacement stock certificates, etc. give us a call. We'll be happy to help.
Other recommended reading
IRS Audits and Record Keeping
http://elitebookkeepingtaxservices.blogspot.com/2013/05/irs-audits-and-record-keeping.html
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
Showing posts with label Business Management. Show all posts
Showing posts with label Business Management. Show all posts
Tuesday, September 10, 2013
Tuesday, July 16, 2013
Covering Your Assets- Important Formalities
If you have a Corporation, chances are at some point you heard or read information about why you should incorporate your business. The most important reason is to separate your personal assets from your business assets. Corporations are considered a first line of defense. Another reason is the tax benefits. There are numerous deductions available to Corporations that are not available to Sole Proprietorships, for example.
But here’s the thing- if you have not taken the steps to complete certain corporate formalities, your assets are like low hanging fruit just waiting to be picked.
Hopefully your business will never be sued or have to endure an IRS audit. We assure you it is not our intent to frighten you with this post. We simply want to remind you again about these formalities as a preventative measure.
Let’s review a couple of these formalities:
Issuing Stock- Perhaps you and family members or friends are “said owners” of the business. However, did you prepare the Resolution(s), fill out stock certificates and document it in your corporate records? If not, you could have a serious problem down the line.
Here’s why- if your business is sued and there’s no formal record of having issued stock, you have given the court evidence to rule that it’s not a “valid Corporation”. A valid Corporation would have shareholders. If it’s not valid, how can you argue that a corporate veil exists?
SPECIAL NOTE: Nevada allows you to issue stock for services, property, capital, real estate or anything! It’s up the Directors of the Corporation to decide. Per the Secretary of State “their decision is final”.
Maintaining Corporate Records- Keeping your corporate records updated is a must for preserving the corporate veil. Your corporate records are like the “life story” of actions that were of major business consequence to the Corporation. The Directors and Officers are merely conducting business on behalf of the Corporation and the records should reflect this.
For example, have you taken out a business loan? If so, the Corporation should have held a Special Meeting to discuss taking out the loan. Minutes of the meeting should have been prepared, signed and placed in the Corporate Record Book. This helps prove it was the Corporation and not you personally that decided to take out the loan.
If your business is involved in a lawsuit and you have no corporate records, a court can determine that the Corporation was simply an “Alter Ego” of yourself; that is was not acting like a true Corporation; therefore, the corporate veil may be pierced.
We often hear “It’s a one-man operation. It’s just me so I don’t need a record book”. You still need to keep records even if it’s just you.
IRS Audits and Corporate Record Keeping
According to Sara Zaro, EA with Elite Bookkeeping & Tax Services,
“When the IRS conducts an audit on a Corporation, they will ask for the corporate record book. If you don’t have current records, the IRS can determine that your business is operating as a Sole Proprietorship and change the tax rules. In some cases it has cost the business thousands of dollars.”
You should consider your tax benefits as an asset that also needs to be protected.
Additional Note: While LLC record keeping isn’t quite as stringent, it is recommended that you still maintain similar-type records for anything of major business consequence.
If you have not tended to these formalities, you should do so now. The longer you wait the more challenging it will be to catch up.
We can provide you with a Corporate Record Book and assist with updating your records. Just give us a call and we’ll be happy to help.
Corporation Annual Minutes
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
But here’s the thing- if you have not taken the steps to complete certain corporate formalities, your assets are like low hanging fruit just waiting to be picked.
Hopefully your business will never be sued or have to endure an IRS audit. We assure you it is not our intent to frighten you with this post. We simply want to remind you again about these formalities as a preventative measure.
Let’s review a couple of these formalities:
Issuing Stock- Perhaps you and family members or friends are “said owners” of the business. However, did you prepare the Resolution(s), fill out stock certificates and document it in your corporate records? If not, you could have a serious problem down the line.
Here’s why- if your business is sued and there’s no formal record of having issued stock, you have given the court evidence to rule that it’s not a “valid Corporation”. A valid Corporation would have shareholders. If it’s not valid, how can you argue that a corporate veil exists?
SPECIAL NOTE: Nevada allows you to issue stock for services, property, capital, real estate or anything! It’s up the Directors of the Corporation to decide. Per the Secretary of State “their decision is final”.
Maintaining Corporate Records- Keeping your corporate records updated is a must for preserving the corporate veil. Your corporate records are like the “life story” of actions that were of major business consequence to the Corporation. The Directors and Officers are merely conducting business on behalf of the Corporation and the records should reflect this.
For example, have you taken out a business loan? If so, the Corporation should have held a Special Meeting to discuss taking out the loan. Minutes of the meeting should have been prepared, signed and placed in the Corporate Record Book. This helps prove it was the Corporation and not you personally that decided to take out the loan.
If your business is involved in a lawsuit and you have no corporate records, a court can determine that the Corporation was simply an “Alter Ego” of yourself; that is was not acting like a true Corporation; therefore, the corporate veil may be pierced.
We often hear “It’s a one-man operation. It’s just me so I don’t need a record book”. You still need to keep records even if it’s just you.
IRS Audits and Corporate Record Keeping
According to Sara Zaro, EA with Elite Bookkeeping & Tax Services,
“When the IRS conducts an audit on a Corporation, they will ask for the corporate record book. If you don’t have current records, the IRS can determine that your business is operating as a Sole Proprietorship and change the tax rules. In some cases it has cost the business thousands of dollars.”
You should consider your tax benefits as an asset that also needs to be protected.
Additional Note: While LLC record keeping isn’t quite as stringent, it is recommended that you still maintain similar-type records for anything of major business consequence.
If you have not tended to these formalities, you should do so now. The longer you wait the more challenging it will be to catch up.
We can provide you with a Corporate Record Book and assist with updating your records. Just give us a call and we’ll be happy to help.
Corporation Annual Minutes
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
Friday, June 14, 2013
Smartsourcing Requires A New Maturity Model
Smartsourcing Requires A New Maturity Model
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
Wednesday, March 6, 2013
Avoid Costly Hiring Mistakes
Pinnacle Executive Suites' Blog: Avoid Costly Hiring Mistakes: Contributed by Melissa Marsh of HRinDemand, LLC A bad hire can cost big bucks. Careerbuilder conducted a survey in August/September 2012...
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
Wednesday, February 13, 2013
After You Incorporate
Below are some links to some videos, blog posts and other service providers to assist you with your running your business. We encourage you to call us any time if you have any questions or if you need any additional help.
Videos about obtaining an EIN, Banking, Taxes, etc.
After You Incorporate Videos
Most people incorporate for asset protection. However, nearly 60% of businesses are in jeopardy of having their corporate veil pierced because they don't maintain a record book.
The Importance of Corporate Record Keeping
If you're considering hiring someone as 1099 contract labor rather than W-2 wages, please note that the IRS has very strict rules when it comes to 1099 contracts.
What You Need to Know: 1099 vs. W-2 Wages
Your Corporation can provide you with many benefits. One that is often overlooked is a Medical Reimbursement Plan.
Tax Benefits of a Medical Reimbursement Plan
Obtain a Resale Permit through the Department of Taxation
https://www.nevadatax.nv.gov/web/
Additional service provider links:
Virtual Office Service through Pinnacle Executive Suites
http://www.pinnacleexecutivesuites.com
Elite Bookkeeping & Tax Services
http://www.elitebookkeeping.biz
Other agency links:
Internal Revenue Service http://www.irs.gov
Electronic Federal Tax Payment System (EFTPS) https://www.eftps.gov/eftps/
Nevada Dept. of Employment http://www.nvdetr.org
Nevada Secretary of State http://nvsos.gov
U.S. Social Security Administration http://www.socialsecurity.gov/
Government Services Administration http://www.gsa.gov
U.S. Small Business Administration http://sba.gov
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
Videos about obtaining an EIN, Banking, Taxes, etc.
After You Incorporate Videos
Most people incorporate for asset protection. However, nearly 60% of businesses are in jeopardy of having their corporate veil pierced because they don't maintain a record book.
The Importance of Corporate Record Keeping
If you're considering hiring someone as 1099 contract labor rather than W-2 wages, please note that the IRS has very strict rules when it comes to 1099 contracts.
What You Need to Know: 1099 vs. W-2 Wages
Your Corporation can provide you with many benefits. One that is often overlooked is a Medical Reimbursement Plan.
Tax Benefits of a Medical Reimbursement Plan
Obtain a Resale Permit through the Department of Taxation
https://www.nevadatax.nv.gov/web/
Additional service provider links:
Virtual Office Service through Pinnacle Executive Suites
http://www.pinnacleexecutivesuites.com
Elite Bookkeeping & Tax Services
http://www.elitebookkeeping.biz
Other agency links:
Internal Revenue Service http://www.irs.gov
Electronic Federal Tax Payment System (EFTPS) https://www.eftps.gov/eftps/
Nevada Dept. of Employment http://www.nvdetr.org
Nevada Secretary of State http://nvsos.gov
U.S. Social Security Administration http://www.socialsecurity.gov/
Government Services Administration http://www.gsa.gov
U.S. Small Business Administration http://sba.gov
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
What You Need to Know: 1099 vs. W-2 Wages
Contributed by Elite Bookkeeping & Tax Services
Whenever a business starts there is always the question of how the people that provide services for the business will be paid. Will those services be performed by employees or will independent contractors be used?
Before the business can determine how to treat payments they need to know and make clear the business relationship. It is important to establish this relationship because an employee has taxes withheld, social security and medicare matched by the employer, unemployment insurance paid, workers compensation insurance paid and often benefits provided. An independent contractor just gets paid. It is a big expense difference.
To determine whether an individual is an employee or and independent contractor, the relationship of the business and worker must be examined. It comes down to does the business have control over what and how a job will be done or do they just control the results of the job. The determination falls into three categories: behavior control, financial control, and type of relationship.
Behavioral Control
Employees are generally subject to instructions about when, where, and how to work. The employer controls when and where the work is performed and what hours the person will be at the job. The person is told what tools and equipment to use, who else can be hired to assist with the work and where to purchase supplies and services. They are told what work is to be performed by a specific individual and what order or sequence to follow. Employees also may be required to receive training by the employer.
Independent Contractors can be hired to do a certain job in a certain place and be completed by a certain time. However, how the job is done is up to the contractor. When the work is performed, what equipment is used, who is hired to assist and where materials and supplies are purchased are up to the Independent Contractor. They also obtain and pay for their own training.
Financial Control
An employee is generally guaranteed a regular wage amount for an hourly, weekly or other period of time, even if the wage or salary is connected with a commission. They may be paid whether work is being performed or not. An employee generally does not have an investment in the company unless there are stock options available. They usually have any expenses they incur for things such as travel, phone, or equipment reimbursed.
An Independent Contractor is not reimbursed for any expenses. They generally have a business of their own or a significant investment in the facilities and equipment used to perform the work. An Independent Contractor is free to offer services to the general public and can take on jobs for other companies or individuals. They generally advertise their services and maintain a home office or visible business location. They generally get hired and paid by the job, usually a flat fee. Although some jobs can be billed hourly. An Independent Contractor can make a profit or loss on the job.
Type of Relationship
An Employee generally signs a employee contract. The employee is generally provided benefits such as insurance, pension plan, vacation and sick pay. Employee's are engaged for an indefinite period of time. They perform activities that are a regular daily part of the business. They fill out an IRS W-4 form that tells the employer how much taxes to withhold. They are not free to do business for other companies and in fact some companies have penalties if they do.
Independent Contractors have job by job contracts or for specific project or periods of time that state they are responsible for their own taxes. They are not provided with any benefits. They fill out an IRS W-9 form telling the IRS that no taxes are required to be withheld.
It is important to determine what kind of relationship from the beginning of your business. If you treat an employee as an independent contractor and you have no reasonable basis for doing so, you may be held liable for employment taxes for that person. Also, if you pay an individual as an Independent Contractor, they do not qualify for unemployment of workers compensation so if they try to collect it, you will want to be ready to verify they are not an employee.
For assistance with bookkeeping or tax services, contact Elite Bookkeeping directly at (800) 416-3820. Visit their web site at http:www.elitebookkeeping.biz
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
Whenever a business starts there is always the question of how the people that provide services for the business will be paid. Will those services be performed by employees or will independent contractors be used?
Before the business can determine how to treat payments they need to know and make clear the business relationship. It is important to establish this relationship because an employee has taxes withheld, social security and medicare matched by the employer, unemployment insurance paid, workers compensation insurance paid and often benefits provided. An independent contractor just gets paid. It is a big expense difference.
To determine whether an individual is an employee or and independent contractor, the relationship of the business and worker must be examined. It comes down to does the business have control over what and how a job will be done or do they just control the results of the job. The determination falls into three categories: behavior control, financial control, and type of relationship.
Behavioral Control
Employees are generally subject to instructions about when, where, and how to work. The employer controls when and where the work is performed and what hours the person will be at the job. The person is told what tools and equipment to use, who else can be hired to assist with the work and where to purchase supplies and services. They are told what work is to be performed by a specific individual and what order or sequence to follow. Employees also may be required to receive training by the employer.
Independent Contractors can be hired to do a certain job in a certain place and be completed by a certain time. However, how the job is done is up to the contractor. When the work is performed, what equipment is used, who is hired to assist and where materials and supplies are purchased are up to the Independent Contractor. They also obtain and pay for their own training.
Financial Control
An employee is generally guaranteed a regular wage amount for an hourly, weekly or other period of time, even if the wage or salary is connected with a commission. They may be paid whether work is being performed or not. An employee generally does not have an investment in the company unless there are stock options available. They usually have any expenses they incur for things such as travel, phone, or equipment reimbursed.
An Independent Contractor is not reimbursed for any expenses. They generally have a business of their own or a significant investment in the facilities and equipment used to perform the work. An Independent Contractor is free to offer services to the general public and can take on jobs for other companies or individuals. They generally advertise their services and maintain a home office or visible business location. They generally get hired and paid by the job, usually a flat fee. Although some jobs can be billed hourly. An Independent Contractor can make a profit or loss on the job.
Type of Relationship
An Employee generally signs a employee contract. The employee is generally provided benefits such as insurance, pension plan, vacation and sick pay. Employee's are engaged for an indefinite period of time. They perform activities that are a regular daily part of the business. They fill out an IRS W-4 form that tells the employer how much taxes to withhold. They are not free to do business for other companies and in fact some companies have penalties if they do.
Independent Contractors have job by job contracts or for specific project or periods of time that state they are responsible for their own taxes. They are not provided with any benefits. They fill out an IRS W-9 form telling the IRS that no taxes are required to be withheld.
It is important to determine what kind of relationship from the beginning of your business. If you treat an employee as an independent contractor and you have no reasonable basis for doing so, you may be held liable for employment taxes for that person. Also, if you pay an individual as an Independent Contractor, they do not qualify for unemployment of workers compensation so if they try to collect it, you will want to be ready to verify they are not an employee.
For assistance with bookkeeping or tax services, contact Elite Bookkeeping directly at (800) 416-3820. Visit their web site at http:www.elitebookkeeping.biz
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
Monday, September 10, 2012
Here's a helpful video from the IRS regarding disaster preparedness. You never know when a disaster will happen so it's important to take the necessary steps to safeguard your records.
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
Friday, June 1, 2012
Four IT Security Trends to Master Corporate data is falling into the hands of hackers at an alarming rate. Here are four ways to protect it.
Four IT Security Trends to Master Corporate data is falling into the hands of hackers at an alarming rate. Here are four ways to protect it. Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
Thursday, April 19, 2012
Warning- Business Identity Theft On The Rise
We frequently hear stories about people who were victims of identity theft. Less often in the media - but unfortunately on the rise – is business identity theft. The thieves look for businesses that have not kept up their annual filings that are either in default or revoked status. They submit annual filings or reinstatement documents and change key company information in order to take control of the business.
As with individual identity theft, these thieves then get credit cards in the company name or establish lines of credit with banks or other vendors- all if which can be devastating to a business.
This is one of the reasons that we suggest that companies file a formal dissolution with the state, file a final tax return and close all open lines of credit for their business.
The National Association of Secretaries of State (NASS) has been working closely with The Identity Theft Protection Association (ITPA), which recently launched the website www.BusinessIDTheft.org to combat this growing threat.
The website has information about ways that theft can occur, prevention information, resources, victim assistance and more.
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
As with individual identity theft, these thieves then get credit cards in the company name or establish lines of credit with banks or other vendors- all if which can be devastating to a business.
This is one of the reasons that we suggest that companies file a formal dissolution with the state, file a final tax return and close all open lines of credit for their business.
The National Association of Secretaries of State (NASS) has been working closely with The Identity Theft Protection Association (ITPA), which recently launched the website www.BusinessIDTheft.org to combat this growing threat.
The website has information about ways that theft can occur, prevention information, resources, victim assistance and more.
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
Thursday, February 16, 2012
What is a Registered Agent?
A registered agent is a person or company designated to receive legal documents being served upon businesses such as Corporations, LLCs, Limited Partnerships, etc., that are registered with the Secretary of State.
The registered agent must reside in the state where the Articles are being filed and must have a physical address located in the state. In most states the registered agent must be available for service of process during regular business hours of Monday through Friday from 8 a.m. to 5 p.m. (except holidays and unforeseen emergencies).
Any entity registering with the state is required by law to appoint a registered agent. Failure to properly maintain a registered agent generally will cause a jurisdiction to revoke a business entity’s legal status as well as in some cases, assess additional noncompliance fees on the entity.
As mentioned in a previous post it is important that you keep your contact information up to date so that you can be immediately notified in the event of service of process and also so that renewal notices and IRS notices will get to you in a timely fashion.
With our registered agent service we forward any official mail from the IRS and state of Nevada. We will also hand deliver your Articles at no additional charge as well as Initial and Annual Lists (state fees not included).
We go above and beyond to notify you when your documents are due with the state to help save you late fees and to keep your entity in good standing. We also offer additional services such as Mail Forwarding, Banking Assistance, Executive Office Services, etc. to help support your business.
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
The registered agent must reside in the state where the Articles are being filed and must have a physical address located in the state. In most states the registered agent must be available for service of process during regular business hours of Monday through Friday from 8 a.m. to 5 p.m. (except holidays and unforeseen emergencies).
Any entity registering with the state is required by law to appoint a registered agent. Failure to properly maintain a registered agent generally will cause a jurisdiction to revoke a business entity’s legal status as well as in some cases, assess additional noncompliance fees on the entity.
As mentioned in a previous post it is important that you keep your contact information up to date so that you can be immediately notified in the event of service of process and also so that renewal notices and IRS notices will get to you in a timely fashion.
With our registered agent service we forward any official mail from the IRS and state of Nevada. We will also hand deliver your Articles at no additional charge as well as Initial and Annual Lists (state fees not included).
We go above and beyond to notify you when your documents are due with the state to help save you late fees and to keep your entity in good standing. We also offer additional services such as Mail Forwarding, Banking Assistance, Executive Office Services, etc. to help support your business.
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
Wednesday, February 8, 2012
We Want To Reach You
Contributed by Brooke Slansky, Assistant Office Manager
Not only is it a state requirement to keep your Registered Agent informed of contact changes, it can save you lots of money. We do our very best to reach each and every one of our clients when the Annual Renewals are due.
We use mail, email and phone calls to insure that we receive the necessary documents and payments needed for filing your Annual List/License with the state. Filing late can cost hundreds of dollars above and beyond the annual fees.
Should you move or change your phone number or email address, please give us a call at 888-274-1130 or email us regarding updating your information. Having your current contact information plays a critical roll in the service we provide you.
We appreciate your business. If there's anything we may assist you with, please feel free to contact us any time.
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today
Not only is it a state requirement to keep your Registered Agent informed of contact changes, it can save you lots of money. We do our very best to reach each and every one of our clients when the Annual Renewals are due.
We use mail, email and phone calls to insure that we receive the necessary documents and payments needed for filing your Annual List/License with the state. Filing late can cost hundreds of dollars above and beyond the annual fees.
Should you move or change your phone number or email address, please give us a call at 888-274-1130 or email us regarding updating your information. Having your current contact information plays a critical roll in the service we provide you.
We appreciate your business. If there's anything we may assist you with, please feel free to contact us any time.
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today
Wednesday, February 1, 2012
Carson City Professional Office Space and Virtual Office Services
For more information about Executive Office Suites or Virtual Office Services, contact Pinnacle Executive Suites at (775)884-6123 or visit their web site at
http://www.PinnacleExecutiveSuites.com
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
Tuesday, July 19, 2011
Employee Retention- The Low Cost of High Profits
Comments by Tracey Padilla, Pres.
American Corporate Enterprises, Inc.
Here's a great post by Jojo Myers, with Matrix Leadership who is incredibly dynamic. I had the pleasure of meeting with her myself to discuss some upcoming sessions. I was amazed at the information she provided in just a fifteen minute discussion.
Employee Retention- The Low Cost of High Profits: "Contributed by Jojo Myers, CEO Matrix Leadership Professional Leadership, Management and Executive Development Employee Turnover is gros..."
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com/. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
American Corporate Enterprises, Inc.
Here's a great post by Jojo Myers, with Matrix Leadership who is incredibly dynamic. I had the pleasure of meeting with her myself to discuss some upcoming sessions. I was amazed at the information she provided in just a fifteen minute discussion.
Employee Retention- The Low Cost of High Profits: "Contributed by Jojo Myers, CEO Matrix Leadership Professional Leadership, Management and Executive Development Employee Turnover is gros..."
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com/. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
Thursday, September 23, 2010
How to make Expense Management your strategy
Always be internally-driven: Keep improving your process. Have a good employee suggestions program that works, that is, all suggestions are carefully evaluated and those that are implementable are actually implemented, and if they work out well, the employee is suitably rewarded.
Always be externally-driven: Stay on top of changes in technology and process. Even when a technology is not directly targeted at your application/process, you need to evaluate it to see if you can use it for cost reduction.
Competitor-driven: Benchmarking against your competitors is ideal. You must have real time data on your competitors' cost position. If you find that your competitor is doing better than you, immediate action is needed.
Always be Implementing a cost reduction program: After you have compiled the data from competitors and other industry benchmarks, set realistic goals first, though it is perfectly fine to have ultimate goals as well. Ruthless cost cutting can have negative consequences.
Develop a cost reduction program in consultation with each and every employee who could potentially contribute. Do not limit the team to managerial types. In many cases, the floor staff has a better understanding of what works and doesn't and how to make the process better.
Always do a ROI analysis. No cost reduction program should be undertaken until the ROI justifies it.
Explore all options for cost reductions and not just those related to business process redesign or technology/equipment upgrades. Some of the other options that can be considered are outsourcing or off-shoring.
Business process redesign - A simple framework for small and medium-sized businesses While growth is a preferred mode of creating value in almost all cases, an enterprise still needs to focus on operations management, or more specifically, on the robustness of its business processes. Business processes, therefore, may need to be redesigned from time to time for the following reasons:
1.Existing process are broken, or in other words, performing at sub-optimal levels
2.New technology/equipment/systems are available
3.Competitors have better business processes putting you at a competitive disadvantage
4.Business model transformation is being implemented
5.Customers expect you to align your processes with theirs
While business process redesign (or reengineering or revamping or overhaul) may initially seem overwhelming, it shouldn't be. In fact, most businesses should be able to do a large part of BPR on their own. We believe that no one knows an enterprise's processes better than their own employees. However, there are areas where an external advisor can create value:
1. Employees are often reluctant to identify broken systems, inefficiencies, errors, etc. because it is likely to make them look bad
2. Consultants and advisors, through their work with other companies, have a better
3. understanding of what works and what doesn't. Thus, by tapping into their knowledge base, you can not only save time and money, you are also ensuring that you are using the best practices available in the industry. They also have better idea about benchmarks and may, therefore, help you set realistic expectations from BPR
When an organization decides to outsource, reducing costs is always one of its main objectives. Then 'reducing' costs evolved into the need to 'control' them. And today, the financial aspects are often not even listed among the key points. It's true that cutting costs remains an important factor, but rather as a consequence of the main requirements: nowadays when an organization embarks on an outsourcing project, it is looking above all to safeguard its operation (thanks to state-of-the-art Data Centers, industrialized processes and formal, guaranteed levels of service), to make sure it has easy access to the expertise it needs to manage complexity within its information systems, to access technological innovations more quickly and to be in a position to respond to fast-changing business practices.
What customers presented to their service providers followed quite a simple formula: "do the same thing, but better, faster and at a lower cost". At that time, outsourcing often consisted very largely of taking over existing systems. But for the past five years, IT Departments have had to face a dual, and clear-cut acceleration: within business itself on the one hand, which has led their internal customers to expect their information systems to be much more responsive.
And, on the other hand, on the technological front, especially with Web technologies now reaching maturity (including those operating at back office level) and the growth in consolidation and virtualization.
Today's outsourcing contracts take this change into account and as a result they are including much more development work rather than simply operational tasks. Which is why costs no longer take center stage in the list of requirements for the contract: before doing things in a less costly way, you have to start by actually doing it in the first place!
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Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
Always be externally-driven: Stay on top of changes in technology and process. Even when a technology is not directly targeted at your application/process, you need to evaluate it to see if you can use it for cost reduction.
Competitor-driven: Benchmarking against your competitors is ideal. You must have real time data on your competitors' cost position. If you find that your competitor is doing better than you, immediate action is needed.
Always be Implementing a cost reduction program: After you have compiled the data from competitors and other industry benchmarks, set realistic goals first, though it is perfectly fine to have ultimate goals as well. Ruthless cost cutting can have negative consequences.
Develop a cost reduction program in consultation with each and every employee who could potentially contribute. Do not limit the team to managerial types. In many cases, the floor staff has a better understanding of what works and doesn't and how to make the process better.
Always do a ROI analysis. No cost reduction program should be undertaken until the ROI justifies it.
Explore all options for cost reductions and not just those related to business process redesign or technology/equipment upgrades. Some of the other options that can be considered are outsourcing or off-shoring.
Business process redesign - A simple framework for small and medium-sized businesses While growth is a preferred mode of creating value in almost all cases, an enterprise still needs to focus on operations management, or more specifically, on the robustness of its business processes. Business processes, therefore, may need to be redesigned from time to time for the following reasons:
1.Existing process are broken, or in other words, performing at sub-optimal levels
2.New technology/equipment/systems are available
3.Competitors have better business processes putting you at a competitive disadvantage
4.Business model transformation is being implemented
5.Customers expect you to align your processes with theirs
While business process redesign (or reengineering or revamping or overhaul) may initially seem overwhelming, it shouldn't be. In fact, most businesses should be able to do a large part of BPR on their own. We believe that no one knows an enterprise's processes better than their own employees. However, there are areas where an external advisor can create value:
1. Employees are often reluctant to identify broken systems, inefficiencies, errors, etc. because it is likely to make them look bad
2. Consultants and advisors, through their work with other companies, have a better
3. understanding of what works and what doesn't. Thus, by tapping into their knowledge base, you can not only save time and money, you are also ensuring that you are using the best practices available in the industry. They also have better idea about benchmarks and may, therefore, help you set realistic expectations from BPR
When an organization decides to outsource, reducing costs is always one of its main objectives. Then 'reducing' costs evolved into the need to 'control' them. And today, the financial aspects are often not even listed among the key points. It's true that cutting costs remains an important factor, but rather as a consequence of the main requirements: nowadays when an organization embarks on an outsourcing project, it is looking above all to safeguard its operation (thanks to state-of-the-art Data Centers, industrialized processes and formal, guaranteed levels of service), to make sure it has easy access to the expertise it needs to manage complexity within its information systems, to access technological innovations more quickly and to be in a position to respond to fast-changing business practices.
What customers presented to their service providers followed quite a simple formula: "do the same thing, but better, faster and at a lower cost". At that time, outsourcing often consisted very largely of taking over existing systems. But for the past five years, IT Departments have had to face a dual, and clear-cut acceleration: within business itself on the one hand, which has led their internal customers to expect their information systems to be much more responsive.
And, on the other hand, on the technological front, especially with Web technologies now reaching maturity (including those operating at back office level) and the growth in consolidation and virtualization.
Today's outsourcing contracts take this change into account and as a result they are including much more development work rather than simply operational tasks. Which is why costs no longer take center stage in the list of requirements for the contract: before doing things in a less costly way, you have to start by actually doing it in the first place!
---------------------------------------------------
Find out more about American Corporate Enterprises by visiting our website at http://www.americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.
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