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Paradigm Partners Newsletter
June, 2010 |
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Greetings
The purpose of our newsletter is to keep you informed and up-to-date on the latest regarding R&D Tax Credits, Cost Segregation, IC-DISC (Exporters' Tax Incentive), WOTC/HUD Zone, Section 179, other tax related issues, Business Development and Personal Development.
If you find the Newsletter helpful, you may want to forward it to a friend. Just click below.

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Paradigm Partners Releases Summer Schedule for Free CPE Webinars
One of Paradigm's missions is to educate companies and CPA firms about the benefits of some great tax incentives. These include: * R&D (Research & Development) Tax Credit * IC-DISC (US Exporters Tax Incentive) * Cost Segregation Studies * Energy Efficiency Studies (Section 179D) * Hiring Incentives such as WOTC and HUD Zone. These free CPE Webinars is one medium used for education and Paradigm has just released the July and August Schedule of webinars. Paradigm also speaks at CPA and Manufacturing Associations. To see the list of webinars offered and the schedule, go to: http://www.ParadigmLP.com/CPE-Webinars/ |
States Follow Lead of the Federal Government by Adding New Hire Incentives
The federal government passed the Hiring Incentives to Restore Employment (HIRE) Act on March 18, 2010 to incentivize companies to hire new employees and reduce unemployment.
Recently, states have begun to introduce similar legislation to encourage companies to hire and more importantly to hire the unemployed of their state. Some of the states that have already passed employment bills include Texas, Maryland, Indiana and Florida.
The incentives vary significantly from state to state with respect to:
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Which type of entity can claim the credit
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Timeframe during which hiring must take place
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Length of employment
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Can the credit be carried forward or carried back
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Can businesses relocating to the state claim the credit
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Some have taxpayer caps and overall incentive caps
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Length the incentive is available
The credit also differs from state to state. Here's a table of incentives from four different states.
State Credit Texas $2,000 per employee Indiana 10% of wages paid over 24 months Florida $1,000 per employee Maryland Up to $5,000 per employee (416.67 for
each month of employment during a
taxable year) Try to take advantage of these great tax incentives while they last or if you're a CPA, let your clients know if they plan on hiring, the sooner the better.
Paradigm can help you or your client determine if there are hiring incentives in your particular state and if so, with implementation.
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Valant & Company's Solid Rules Can Ensure Success in Life, Business
Editor's Note: Today we present the fourth installment in a special inspirational series from business performance improvement expert Laurence B. Valant, who specializes in growing profits for accounting firms and general business. Larry has been a frequent contributor to our newsletter, and again today, we feature excerpts from his new book, Stop Breaking These Rules! 100 Hard-Hitting Truths for Business Integrity and Performance. If you want more information or would like to order a copy of the wonderful new book, please visit www.valantco.com.
49 - True and honest feedback plays a huge role in performance and growth.
Performance reviews must provide true and honest feedback. If they do so, they become the foundation for and the most crucial part of personal development, management development and training.
Sadly, most organizations base their performance reviews on models created by professionals in human resources that are qualitative, complicated, and have virtually no relationship to organization performance and are therefore of little value to personal growth and management development.
Organizations that base performance reviews on quantitative measures and objective standards of performance provide the basis for honest and true feedback on performance. Such performance reviews are the foundation for effective coaching and management development because both manager and the subordinate engage in a discussion of quantitative facts which are indisputable and not qualitative opinions which are indefensible.
And, preparation for these reviews is simple for both the reviewer and the reviewee because the review is based on the delivery of commitments on time and on budget, whether by the individual or the individual and their direct reports. Feedback must be given on a regular basis, preferably quarterly, to provide for maximum employee development and guidance. If reviews occur regularly, weak performance or failure to make plan can be quickly identified and corrected.
There is no better way to create a culture of honesty and respectful feedback than to use a quantitative, unbiased approach to reviewing performance.
50 - Nobody likes surprises in performance reviews. Most performance reviews include surprises, most of which are unpleasant. Bad experiences result when performance reviews are qualitatively rather than quantitatively based.
Even if the general areas of review are understood, the means for measuring them are not because generalities cannot be measured. How do you measure "communications, motivation, teamwork, cooperation", and other qualitative components of behavior? Not easily, and certainly not credibly.
Meaningful performance reviews are based on agreed- to deliverables, standards of performance and clearly defined expectations. And when they are, the performance review becomes a valuable developmental tool rather than a huge source of frustration.
Surprises and disappointments will remain the fate of all those involved in performance reviews unless performance reviews are based on quantitative measures and standards of performance that have been agreed to at the beginning of the performance period.
And, quarterly performance reviews should replace the annual review because frequent evaluations encourage managers to coach their direct reports. When frequently reviewed, performance does not get very far off track without corrective action.
With such a process, surprises become rare.
51 - It is not about yelling, it is about coaching to success. The job of managing is difficult and challenging, even for the best managers. Managing is about getting your people willing to be held accountable for meeting the company's objectives on time and on budget. Achieving this level of commitment requires the skills and personality traits that make up the successful manager.
These competent managers stand apart from others. They tend not to get frustrated, not to blame, and not to yell. Rather, they quietly teach and coach and counsel their subordinates to success. They set examples that are models of good management behavior and which invariably follow the company's code of conduct and core values. These traits also serve to teach their direct reports how they can become excellent and effective managers - getting planned results on time, and on budget. |
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I hope you have benefited from our Newsletter. Do not hesitate to contact me if you have any questions about what you heard or read in this Newsletter.
Sincerely,
Mark Lauber
VP of Marketing
Paradigm Partners
281-558-1700 X-105
www.ParadigmLP.com |
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