Have you heard the news? An additional relief package of approximately $484 billion was recently passed by the Senate and also by the White House when it went for final approval just last week. The senate, congress, and president have all agreed and signed off, which means that now it’s become a new law.

Now is the time for business owners to apply for loans and funding, as we’re back with another round of the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL). This new round of funding is for all small businesses that have been negatively impacted and affected financially by the coronavirus pandemic. It also serves to provide funding for both hospitals and Covid-19 testing centers in NYC and around the US.

The original first round of funding approved served to support the Small Business Association (SBA). The SBA used these funds to provide financial assistance for businesses for both operating expenses and the usual day-to-day obligations. Due to the fact that information continues to change daily, and no one knows when business will be back to usual, it is important to apply as soon as possible to receive aid.

It has been predicted that usual business will face an uncertain future, especially over the course of the year. However, we now know this is the sequel to the forgivable loans and disaster loans. Will there be a Trilogy? Maybe, but there’s no sense in waiting. Now is the time to apply.

At ERPS Group we are here to keep you updated, as we navigate through this time together. Our team is working around the clock helping our clients do everything we can to qualify for these loans. Ready to speak with our team? Book a time here. We will walk you through every stage of the process.

ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

If you have any questions or want to learn more about the current situation at hand. Contact us today at (347) 462-2778 and you can set up a time to speak with one of our financial experts.

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“Sometimes if you have financial restraints, it’s a benefit. It forces you to come up with a more creative way.”

Have you checked your account today? Last week millions of Americans began receiving their stimulus funds in the form of a Direct Deposit from the IRS. They are working on getting everyone their Economic Impact Payments as promptly as possible.

Not sure where yours is? If the IRS doesn’t have your checking account on file and you know you qualify for a stimulus check, you can expect to receive a check in the mail over the course of the next few weeks.

In addition to stimulus checks, other financial support such as the Disaster Loans and the Paycheck protection Program (PPP) were provided to small business owners and non-profits impacted directly by COVID-19. After completing the new application process, businesses have already begun receiving those loans, some of which are eligible for forgiveness.

Here are details of two of the loan programs provided by the Small Business Association (SBA) to those impacted by COVID-19:

  1. $10,000 Advance on Economic Injury Disaster Loan (EIDL) – Businesses can receive up to $2 million dollars with a 3.75% interest rate to help meet financial obligations and operating expenses, those that could have been met had the disaster not occurred.
  2. Paycheck Protection Program (PPP) – Businesses can receive up to $10 million dollars with a 1% interest rate. The program qualifies for loans to be forgivable if used for payroll (minimum of 75% of the funds received) and the remaining for certain operating expenses (amount of any EIDL advance is not forgivable).

At ERPS Group we are here to keep you updated, as we navigate through this time together. We will walk you through every stage of the process. If you have any questions or want to learn more about the current situation at hand. 

Contact us today at (347) 462-2778 and you can set up a time to speak with one of our financial experts. 

ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Click here for Support from Ella Rivkin.

“The art is not in making money, but in keeping it.”

Even though the due date for your tax return is set every year for the 15thof April, it is important to keep in mind that taxes take a look into the prior year you had. Therefore, all of your 2019 expenses and pay-ins will be considered and should be prepared ahead of time. This is why using an effective strategy to organize you for your 2020 tax return will set you up for the best outcome and save you more time and money in the long run.

There are helpful tips you can start implementing today to ensure you’ll have a smooth process, and important tax-related statistics to be aware of to better prepare your business too. If you are a business owner, it is recommended that you familiarize yourself with the options your employers have. This can help you to better prepare your company and business for success.

Some of the best ways to prepare at the start of the New Year is to:

  • Plan a schedule ahead of time so you are able to file and make any payments necessary by the required deadline.
  • Organize your records in a timely fashion.
  • Hire a financial planner to help you set up your personal finances or business up for success.
  • Have all taxpayer ID numbers available to you.
  • Make sure you are set and up to date with any changes to tax laws in your state, and all forms. 

Want to learn more about how you can save money annually this tax season? ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Interested in learning more? Contact us today at (347) 462-2778.

“The hardest thing in the world to understand is the income tax.” -Albert Einstein

As we welcome in a New Year, one of the best ways to prepare for tax season is through hiring a taxation specialist, as having your accounting needs met can have you ready to go, stress-free! A taxation specialist will ensure you are paid appropriately and receive the correct amount back too. 

Now, the difference between hiring a professional and doing it yourself is, a specialist will have the knowledge of all up to date laws, requirements, as well as a great understanding of particular laws in your state that can help you to save more money annually. 

Not many people realize that tax laws are subject to change and can do so each year, so it is important to have a taxation specialist on your side as this can help you work through any tax policy changes that can have an effect on fines and any penalties, or even provide you with additional refunds.

To help save you time, money and provide you with peace of mind, hiring a professional tax specialist can help you by:

  • Reviewing documentation, to eliminate any errors and make sure that your information is prepared correctly.
  • Reducing any audits, and if you are due for an audit, they can prepare you for the IRS.
  • Resolving any issues, as they can help you answer questions, usually instantly, rather than waiting for hours to speak to the IRS. 

Want to learn how you can save more money annually? ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Interested in learning more? Contact us today at (347) 462-2778.

“Setting goals is the first step in turning the invisible to into the visible.”  -Tony Robbins

It’s the holiday season and while it’s a time to celebrate, by preparing holiday meals, buying gifts and spending time with family, friends, and loved ones, everyone knows in the back of their minds that tax season is just around the corner! And, while we are making a few extra splurges here and there, it is important to begin financial planning and organizing payments and expenses ahead of time.

Now is the perfect time to begin setting New Year tax goals and resolutions, as this can help you create a successful strategy that will set you up for success in the upcoming year. Hiring a financial planner to assist you can help you to identify solutions, any errors, analyze targets and set you up for the best opportunities as you prepare for a new tax year. 

It can be difficult at times to know where to start, but the most important thing to do first is to establish goals before the year begins, so you can prepare and achieve success, full force! To help you get started, somethings you can do to best prepare are:

  • Reflect on past goals and define future goals.
  • Set measurable goals and dates to hold you accountable.
  • Begin organizing your pay-ins, pay-outs and any other expenses to support your tax documentation.
  • Focus on what is now attainable. 
  • Work with a financial planner to save more money annually. 

Want to learn how you can save more money annually? ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Interested in learning more? Contact us today at (347) 462-2778.

“Understanding income tax is the gamechanger…”

Are you starting to prepare for tax season? Do you ever worry about how much money you’ll need to pay in taxes? Considering tax payments are one of our single biggest expenses, paying less taxes helps us to build financial freedom and create more successful opportunities in the future. 

So, one of the most widely asked questions is, “How can you make more and pay less tax legally?” The truthful answer is, it’s very simple. It’s not how much you make that determines how much tax you’ll end up paying. It’s how you make it.

Most people don’t know this, but there are certain income types that are considered “tax-free income” as it is not subject to any income tax whatsoever. And so, one of the best ways to pay less in taxes or avoid it altogether, legally, is to earn income that is tax-free, as much as possible!

For example, to do this, you can sell your home, as there is a home tax exclusion, investments such as municipal bonds, and other benefits that stem from health insurance and savings account contributions. 

Another way is by investing money into a Roth IRA, as you will never have to pay tax on the earnings. For example, if you invested $5,500 into apple stock 10 years ago, you would have made $34,254 and if you would have invested your earnings into a Roth IRA, you would have never had to pay tax on the profit. 

For those of you who are unfamiliar with a Roth IRA, a Roth IRA is an individual retirement plan (a type of qualified retirement plan) that is similar to a traditional IRA. The biggest distinction between the two is what happens in regard to taxes. A Roth IRA is funded with after-tax dollars, meaning the contributions are not tax-deductible. But once you start withdrawing funds, the money is tax-free. In contrary, traditional IRAs are funded with pre-tax dollars meaning the contribution are tax deductible. 

Once you create a plan of action and use tax strategies in your benefit, you can begin to make money and not pay as much in taxes and learn more about ways to best fit your personal situation before making any unnecessary contributions. 

Hiring a financial planner like those on the ERPS Group Team can help you to design a special tax plan, which will provide you with the financial security you need and deserve.

Interested in hearing more tax tips? ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Contact us today at (347) 462-2778.

“Tax planning is a positive way to set your mission and visions up for success…”

Did you know that nearly 60% of Americans use paid tax preparers to support them in completing and submitting tax returns? This is a beneficial way to get taxes prepared correctly, but if you are one of the individuals doing so, it is highly recommended to organize all of your documents as soon as possible, even right now, well before the tax season begins. 

The sooner you make a plan to meet with a tax preparer, the easier you will be able to complete your documentation and get your refund too. Creating a strong and thorough strategic tax plan before the end of the tax year will contribute to great benefits for your personal self and your business. Strategic tax planning serves as a way to eliminate any stress, all while enhancing your financial state. Planning for tax season in advance helps you to develop successful business strategies along the way. 

Developing a plan that is based on your financial goals, while taking into account local and overseas tax regulations, current and future liabilities will also help you to achieve any planning goals. For example, planning for taxes strategically is a way for your company to set priorities, strengthen operations, focus energy on the right areas of your business and ensure that everyone is working towards a common goal.

Finally, before you get too close to tax season, it is recommended to evaluate all IRS deductions as well as requirements to claim your benefits. Preparing for this stage in advance, will help you to claim your deductions annually. 

Interested in hearing more tax tips? ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Contact us today at (347) 462-2778.

“You can manifest anything you want through visualization…”

Are you ready to live a successful life and build a business that thrives? Business success and achieving personal goals, all starts with a vision. Visualizing what you want to achieve and defining exactly where you want to be and what you want to experience, is the key to bringing everything you desire to have in your life into reality. And, Setting goals and beginning to visualize how you are going to achieve them will help keep you on track for real business success.

The truth is, as soon as you formulate your vision and create an action plan, it becomes your mission…

Creating business success all begins with a vision. It starts by deciding what you would like to do every day, what success means to you, and what you would like to achieve by a certain date and time. Visualizing success will help you to become focused on your desired business goals, action plans, ambitions, and ideas, which will enable you to work towards achieving your goals confidently. 

Some of the best ways to start visualizing to achieve business success include but are not limited to:

  • Specifying your desired outcomes.
  • Creating a vision board to have images remind you of what you want to achieve.
  • Planning ahead. It is important to plan time for visualization and set timeframes for achieving your goals. 
  • Allow time for questioning and reflection.
  • Define what your dream day would look like and what success means to you.

If you are interested in learning more about Visualization, Ella Rivkin is sharing free resource guides on visualization that will help guide you through the process so you can design your dream life and achieve success in your business, personal life and in your overall health and wellness too. 

ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Contact us today at (347) 462-2778.

“Write your goals down, if they’re not written down, they’re just dreams. When you write things down, it sets off a chain of events that will change your life.”

Goal setting will improve your financial focus, help you achieve your greatest desires and begin to bring your dream life into reality. Goal setting is known to contribute to a huge increase in productivity, making better decisions in both business and personal life, and building self-confidence. 

Setting clear goals and focusing on a plan of action is also linked to creating financial freedom

The moment anyone sets a measurable goal, writes it out and creates a timeframe for achieving it, it is in our nature to direct our focus and attention towards doing whatever is necessary to move forward, closer to the desired outcome. Therefore, setting S.M.A.R.T goals which are specific, measurable, achievable, relevant and time-based goals will guide you faster towards achieving the next steps too, and this is when you begin to head on a path that your mind and body believes in. 

If you would like to learn more about the best goal setting tips for achieving financial freedom, hiring a  financial planner to support you throughout your journey of obtaining insurance will help to save money overtime. Their knowledge will guide you in choosing a plan that will provide you with the financial security you, your business, and employees need and deserve.

ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Interested in learning more? Contact us today at (347) 462-2778.

“Safety and security don’t just happen, they are the result of collective consensus and public investment…”

If you’re a business owner frustrated with workers compensation audits or high insurance bills, this is for you! Did you know that learning how to choose the right type of insurance and how to implement planning strategies to master your premiums, can save you from paying thousands of dollars annually? 

And, it all starts with proper financial planning

Whether you are just starting out or have already developed a business over time, it is highly recommended for most businesses to obtain  Property Insurance and  General Liability Insurance, and this is suggested at the least. If a business already has employees on board, business owners will also want to ensure to have additional coverage and security. And, depending on the type of business, the list of  insurance types goes on and on! 

Depending on how a business is classified and what roles employees have, various insurance options should be considered. For example, if a business has drivers and company cars, Commercial Auto Insurance will also be extremely important. Most states in the US require businesses to have Worker’s Compensation Insurance too, and it is beneficial regardless of the requirements, as it covers both employers and employees for any unexpected instances. 

As a business owner, often times choosing the right insurance can become overwhelming, as there are so many options available. However, once determining what the business needs are and the potential liabilities that could occur, it is possible to buy separate types of policies that will provide other opportunities for guaranteed coverage, in case of any types of accidents occurring. 

If you would like to learn more about the best insurance out there for business owners and how to get the most desirable rates that will save you money in the long run, hiring a  financial planner to support you throughout your journey of obtaining insurance will help to save money overtime. Their knowledge will guide you in choosing a plan that will provide you with the financial security you, your business, and employees need and deserve.

ERPS Group is a one-of-a-kind financial firm located in  Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Interested in learning more? Contact us today at (347) 462-2778.