The Helper
Fifth Point Enterprises, Inc.December 2010
In This Issue
Merry Christmas
Retirement Option Overload
Featured Client: Emajen

Contact Fifth Point before you Purchase


Fifth Point can often offer special discounts that are not advertised by Intuit.  If you are thinking of upgrading, or considering adding services (such as the incredible Intuit Merchant Account or Payroll) to your existing QuickBooks account, be sure to contact us before purchasing.  We can probably save you some money.  Call or e-mail Wanda or Tammy for details. 

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If you are using QuickBooks 2008, and are subscribed to any of the QuickBooks/Intuit services (such as payroll, merchant account, etc.), you will need to upgrade by around May of 2011.  In planning for the upgrade, keep in mind that Intuit is now running specials on the new 2011 version of QuickBooks.  We can get you a discount on the purchase.  Intuit will no longer support version 2008 once they "retire" the program.

Merry Christmas from Fifth Point


It is difficult to believe that we are nearing the end of 2010 already.  We know that it has been a challenging year for both businesses and individuals.  The American spirit is tough and resilient and alive and well--we will make it through these tough times as we always have--together!  We wish for you a happy, healthy, prosperous and blessed new year in 2011.  Merry Christmas and Happy New Year from Tammy, Wanda, Carl and all of our associates.

Retirement Option Overload


Along with all of the work required to finalize the financials for 2010 and get ready for 2011, many businesses are trying to make decisions about Retirement Plan offerings.  We received this information from Donna and Anthony Davidson (Financial Advisor), a great team over at Davidson Financial Services.  Anthony A. Davidson is a Representative with Securities America, Inc. and Securities America Advisors, Inc., and may be reached at, 859-245-5880 or


Establishing a retirement plan for yourself and your employees can help you attract and retain workers and give you personal and business tax deductions. Yet you haven't taken the final step to create a plan, because every time you look at that alphabet soup of choices - SEP IRA, SIMPLE IRA, 401(k), SE 401(k) - you become overwhelmed by the options and translating their impact into real life for your business.


Then there are the costs and responsibility involved. About a third of small business owners cite revenue uncertainty as the biggest obstacle to establishing a retirement plan, according to the Employee Benefit Research Institute's Small Employer Retirement Survey from 2003 (the most recent year available). Costs ranked second, at 16 percent.


Most retirement plans fall into three general categories: Individual Retirement Arrangements, defined contribution plans and defined benefit plans. Defined benefit plans commit the employer to providing a specified benefit to retirees, often based on a percentage of pay and the number of years the individual worked for the business. Most small businesses can't carry the burden of such arrangements and opt instead for one of the other two types.


An IRA typically exists outside the employment relationship; in other words, the employer does not fund or contribute to the accounts and does not dictate when an employee can contribute or how much. IRAs may offer tax benefits for employees who contribute to them, and employers can encourage those contributions by offering payroll deduction.


A SIMPLE IRA, however, does require employer contributions. The business must have 100 or fewer employees. As the name implies, these plans are relatively easy and low cost to establish and maintain. Employees decide how funds will be invested and can retain the account when they change jobs. The employer can decide to have all employees' accounts at the same financial institution or can let each employee decide for himself.


401(k) Plans have become a widely used retirement vehicle, holding about $2.5 trillion in plan assets as of the end of the second quarter 2009. Employees choose how much to defer, and that amount and associated earnings are not taxed until distributed. A Safe Harbor 401(k) eliminates the fairness tests normally applied to 401(k) plans by the IRS and mandates 100 percent vesting in employer contributions.


Additional types of plans, such as Keogh, solo defined benefit and solo 401(k), exist for self-employed individuals who have no employees. Obligations, limitations and tax consequences vary with each.


With all those options, no wonder so many small business owners become immobilized with indecision. A financial professional can help you first evaluate what you hope to accomplish in offering a plan: tax advantages for yourself, employee incentives, recruiting advantages, helping employees prepare for their future or another reason. When your purposes have been determined, you and your financial professional - perhaps in conjunction with your tax and legal advisors - can decide which plan will best help you achieve those results.


So if you haven't set up a retirement plan for your business - or if your business has grown or changed and you want to revisit your plan to ensure it still achieves what you intended - take the first step and contact your financial professional. You don't have to eat that alphabet soup alone.


Written by Securities America for distribution by Anthony A. Davidson, Financial Advisor.

Featured Client:  Emajen

Jarod Thornton and his company, Emajen, are Fifth Point clients who can help your company put its best foot forward on the web.  You don't need to know anything about web presence, the Internet, etc., to work with Jarod.  He knows what to do to create and maintain an incredible web site and can guide you through the process.


Emajen is a full-service web design and marketing firm.  They have been in business since March.  Jarod says that "no one cares how much you know, until they know how much you care."  His company offers years of combined experience and the resources to build, deploy and maintain an effective and affordable web-presence.


Mention this article in The Helper and Emajen will provide the following:  Any purchase of a service that requires hosting will be FREE for the first 12 months.


JAROD COMMENTS ON FIFTH POINT:  Wanda Green was very intuitive, helpful and capable in assisting us with our QuickBooks needs.


Emajen is located at 348 E. Main Street, Lexington.  You can reach Jarod at 859.904.9137, or e-mail at or you can visit their web site at