What is Strategic Tax Planning?

“There are dreamers and there are planners; the planners make their dreams come true…”

Did you know that creating a strong and thorough strategic tax plan before the end of the tax year will contribute to great benefits for yourself and your business? Strategic tax planning serves as a way to eliminate your stress, enhance your financial state and develop successful business strategies along the way. It is a positive way to set up your mission and visions up for success. 

And now is the perfect time to begin creating a strategic tax plan…

No one wants to have a big surprise from the IRS, so the goal of creating a strategic tax plan is to organize and prepare a tax-efficient method for promoting success in your business ahead of time, allowing yourself to prepare for future and current liabilities. 

Developing a plan that is based on any financial goals, while taking into account local and overseas tax regulations, current and future liabilities will help you to achieve any planning goals. For example, strategic planning 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.

The overall objective for tax planning is to not only minimize one’s net taxable income, while maximizing any deductible expenses. It also serves to maximize income by paying less in taxes through the development of custom strategies.

Creating a successful business requires a combination of strategies, but most importantly, the focus must consider tax planning in addition to continual development, flexible thinking, strong leadership and management, and providing value.   

So, if you are ready to master a top wealth skill, understanding the ins and the outs of strategic tax planning is a powerful tax saving tool that can work wonders. Interested in organizing and preparing a strategic tax plan?

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. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Editor’s Choice:

Top Financial Planning Tips

Protecting Your Business with Commercial Insurance

Financial Freedom Through Workers Compensation Insurance

The Benefits of General Liability Insurance

What Are Living Benefits of Life Insurance?

What’s Long-Term Disability Insurance?

Why Life Insurance Is So Important

/0 Comments/by

Financial Planning can SAVE Your Business

“Plans are nothing; planning is everything.”

Financial planning is an effective strategy that serves as a tool to help you to achieve great success in your business today, as well as in preparation for retirement and throughout your life. It is a strategy that will benefit any business, as it aims to enhance sales and prepare business owners and their teams for ongoing success and happiness.

As soon as you begin financial planning, the benefits will start to unfold. And not only in your business life, but in your personal life as well…

The truth is, when you are leading, managing and running a business, various day-to-day issues can and do arise. Unfortunately, it sometimes distracts us from the big picture, which can often affect the performance of our business and team. However, when time is invested in planning, managing budgets, involving all members who will be taking part in the action, preparing and reviewing previous aims and ambitions, it is easier to see what strategies need to be implemented and initiated.

Once this is reviewed, creating action steps and annual plans with a financial planner and being open to trying different methods, will enable you to develop greater focus and find the best direction for your business.

Financial planning can save your business by providing you with the tools to make continuous strides towards achieving your goals and preparing you for any problems that might occur along the way. And, overtime, it will help you to better anticipate any problems before they take place.

Finally, no matter how determined we are, we cannot predict exactly how things will go or what the times will bring. All we can do is best prepare ourselves through successful planning techniques and be open to any change that is required to help ourselves and our businesses thrive.

So, if you are ready to properly grow your income source and have your money work for you and your business, accurate planning will provide you with the tools you need!

It will SAVE and transform you and your business if you are open to it!

Interested in learning more? 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. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Remember, “It’s All in Your Hands!”

Editor’s Choice:

Smarter Bookkeeping Habits

Why is Cash Flow SO Important?

What is Strategic Tax Planning?

Financial Planning for Beginners

3 Ways to Succeed Financially in College

4 Myths That Can KILL Your Business

5 Ways to BOOST Business Sales

6 Secrets to Saving Money

/0 Comments/by

Financial Planning for Beginners

‘’Behind every good business is a great accountant…’’

What is financial planning? How can it help your business? And why is it so important? 

If you have goals you want to achieve and visions of where you want to be financially and personally, financial planning is the first step to having your dreams become a reality! Creating a plan and reflecting upon your income and liabilities, will help you move forward towards a life of financial freedom.

For those of you who have not yet heard much about financial planning, we are going to uncover the secrets of how fantastic this can be for both your work-life and personal-life…And this is only the beginning!

If you are new to the world of financial planning, here are 3 secret ways to promote financial freedom in your life and ways to get on track as soon as possible!

1. Begin your financial planning journey today!

The first step of financial planning is knowing that you can start at any time. It is best to start now, regardless of how old you are. It doesn’t matter what your income currently is or what you do for a living, it’s just about ensuring that you set aside money for you each month and begin to plan financially for retirement.

Starting to plan as soon as you can will be in your favor, as planning long-term helps you accumulate more overtime. More specifically, when you are planning long-term goals, you want to think about the next 3 to 5 years from now. So, now’s the perfect time to get started!

2. Save 10-20% of your salary.

The truth is, we all cannot predict what the future will bring, and saving is a way for you to feel more secure and set in case of any unexpected circumstances. It is not about how much money you make, it is about your relationship with money and what you do with the amount you have.

Saving will help you avoid getting into debt and will be a way for you to have money in case of an emergency, or to invest in your business, which will bring you more money in the long-term.

3. Always, always, always stick to a budget.

The final most important step to consider in regard to financial planning is the importance of creating a budget and sticking to it!

Budgeting is the best way to create a plan and move towards financial freedom. This will also ensure that you’ll live without huge debts and be able to control your spending. So, proper financial planning can get you to where you want to be, without the hassle and stress along the way…

Interested in learning more? 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. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Remember, “It’s All in Your Hands!”

Editor’s Choice:

When Are Taxes Really Due?

What You Need to Know for Tax Season

The Benefits of Hiring a Taxation Specialist in the New Year

How Tax Planning Makes a Difference

Preparing for Tax Season

Strategies to Pay Less in Taxes

Strategies for Business Success

/0 Comments/by

3 Ways to Succeed Financially in College

‘’College is part of the American dream, it shouldn’t be part of a financial nightmare for families…’’

Whether you are a parent sending your kid off to college or a student almost entering your first semester, the time has come…

Summer has arrived and it’s the perfect time to prepare yourself and your kids, both mentally and financially for college. While it’s an exciting time to move forward in the next stage of life and development, both educationally and personally, the excitement sometimes comes along with fear and stress, especially when expenses begin to creep in!

Even if the first semester is right around the corner, whether you are a parent or student, there are things you can start doing today to better prepare yourself and set yourself up or your kids for financial success!

Here are 3 ways you can begin preparing for a successful financial future in college and beyond:

1. Design a budget and stick to it!

There are many ways you can prepare both yourself and your kid for what’s yet to come, but the best thing you can do at any age is discuss financial basics with your kids and teach them how they can create and stick to a budget.

To begin, review and calculate upcoming expenses and then create a budget plan. This can be based on a termly basis and then reviewed, or annually. Think about what will work best for you and then commit!

2. Explore the world of financial aid.

Are you eligible for financial aid?

Some students are awarded or provided with financial aid packages. However, if you are not sure if you are eligible, contact your financial aid department and check out the different award scenarios out there. Once you provide your estimated family contribution and apply, you will be able to see what packages are available to you.

3.Plan ahead and set yourself up for success with a financial planner.

Finally, one of the best ways to prepare yourself right for college next semester or for whatever expenses are yet to come in the future, is by working with a financial planner. A financial planner can help you prepare your finances in advance and have you set up and ready to succeed financially way before the college years or even throughout 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. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Remember, “It’s All in Your Hands!”

Editor’s Choice:

4 Reasons To Use a Credit Card Wisely

6 Tips for Thriving in Business

How to Make More Money

Three Ways to Manage Your Money Better

Choosing the Right Financial Planner

The Secret to Achieving Financial Freedom

/0 Comments/by

5 Ways to BOOST Business Sales

“If you want something you’ve never had. You must be willing to do something you’ve never done.” -Thomas Jefferson

Are you offering a product or service that adds value? Have you been seeking ways to develop your business strategy? Have you just started a business? Are you not getting the results you had hoped for? If you’ve answered yes to any of the above questions, this is for you!

Businesses require constant and consistent strategy to continue to produce great products or services, while increasing sales. However, often when sales are down and a budget is tight, business owners begin to find it difficult to consistently increase sales and enhance their business strategy, which usually all comes down to cost.

The truth is that no matter what your budget is, there are always methods to boost business sales and continue to develop your product or service, with consistent and strategic input…

So, if you are offering a great product or service but still aren’t gaining the amount of sales you were hoping for…no need to worry any longer!

Here are 5 ways you can boost sales and promote your business even more!

1. Motivate and involve your team.

Involving your team can help to develop your product or service, as each member can contribute their strengths and expertise to make your plan of action even stronger. Finding ways to inspire them individually and together as a team, can also help to boost sales almost immediately!

2. Create a S.M.A.R.T action plan.

Once your team is motivated, inspired and ready to take action, create an action plan which clearly defines your objectives and S.M.A.R.T action steps, ones that are specific, measurable, assignable, relevant, and time based.

3. Provide referral incentives.

One of the most important aspects of selling a product or service is finding new customers and making people aware of the value you are offering. One of the best ways to do this is by having current and previous customers share and refer your service. You can offer a referral gift or discount in exchange for this. Developing a referral system with an incentive will give sales a big BOOST!

4. Develop your marketing strategy.

Reflect upon your current marketing strategy. How are you making your product or services known? Use content such as case stories or informational articles to nurture leads and give recognition to your business.

5. Develop a lasting solution with a financial planner.

A financial planner can help you to strengthen your plan and develop a lasting solution for your business! If you are ready to get on track and BOOST business growth, a financial planner will analyze the ins and outs of a business and reveal a company’s financial patterns. They will be able to show which products or services bring in more money, which take away more time and cost, and which services to up sale to existing customers.

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. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Remember, “It’s All in Your Hands!”

Editor’s Choice:

Why is Cash Flow SO Important?

What is Strategic Tax Planning?

Financial Planning can SAVE Your Business

Financial Planning for Beginners

3 Ways to Succeed Financially in College

4 Myths That Can KILL Your Business

5 Ways to BOOST Business Sales

6 Secrets to Saving Money

/0 Comments/by

4 Myths That Can KILL Your Business

‘’Strategy is choosing what not to do…’’

Managing and developing a successful business is not easy. Every enterprise has its own way of doing things and most of the time, business plans come along with various complexities. The question is, what causes businesses to do well and what causes businesses to fail? Why do some strategies work for one business and not the other?

For a business to succeed long term, it is first important to steer clear of the myths and then set up a great plan, prepare, execute and embrace the strategies that work in favor of your business.

Here are 4 myths that can KILL your business if you don’t steer clear:

Myth #1: Lowering your fees will make your business more competitive.

Lowering costs can have the opposite effect on your business. For example, if you lower your fees, you may have difficulty adding the same type of value and continuing to increase that value overtime. It can become more difficult to find quality employees, which can affect the overall image of your business. So rather than focusing on lowering costs, focus on how your solution can add value to your customers.

Myth #2:  No matter what, the customer is always right.

If every customer is always right, every enterprise would go out of business! Every customer will have a different perspective. It is important to keep your companies’ image, brand, and mission clear and strong. If you change the vision of your company on a whim, it can not help you to develop a profitable company in the long run. However, the customer will always continue to be your customer if you can see things from their point of view, understand their needs, empathize, add value and set clear expectations.

Myth #3: Under-promise and then over-deliver.

The truth is, we live in a competitive world of business. Nowadays, everything is accessible, all the time. If you under-promise and set low expectations, you might never have the opportunity to over-deliver. Having high stands and setting clear expectations will increase customer satisfaction more than setting low standards.

Myth #4: You can save money by doing everything on your own.

Okay, so you might be able to save some money by doing everything on your own, but teamwork does make the dream work, much better. In a successful running business, bringing in people with various strengths can add greater value then if you’re trying to do everything independently. It is important to utilize your time wisely. Having people contribute to other areas that are not your expertise will help you to develop a stronger business and earn more money overtime.

Want to learn more?

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. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Remember, “It’s All in Your Hands!”

Editor’s Choice:

Top Financial Planning Tips

Protecting Your Business with Commercial Insurance

Financial Freedom Through Workers Compensation Insurance

The Benefits of General Liability Insurance

What Are Living Benefits of Life Insurance?

What’s Long-Term Disability Insurance?

Why Life Insurance Is So Important

/0 Comments/by

6 Secrets to Saving Money

”It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.”

Imagine how you would feel if you had extra money every month. What would you do and how would that feel? Would you finally book the vacation you have been waiting patiently to go on? Or would you be able to pay off your debts and feel financially free?

No matter how your financial state is at this moment in time, each and every one of us has the ability to make a change and move towards achieving financial freedom. Sometimes, all we need to do is make one small change at a time and this will help us take steps in the right direction!

If you are ready to have more money in your monthly budget and ready to live life worrying less about finances, here are six ways you can start saving money today:

1.First, change your money mindset.

Let go of any limiting beliefs about money. Set goals and start to develop a loving relationship towards money. When you do this, money will begin to work in your   favor!

2.Open a savings account and authorize electronic payments for saving.

Opening a savings account enables you to take advantage of electronic payment opportunities, which helps you to save more money each month and this can be done automatically!

3.Start to reflect upon your spending habits.

Is there anything that you buy weekly or monthly that you don’t really need?

It is common sense but the truth is, if you consume less and you will begin saving more money immediately and much more in the long run!

4.Establish a budget.

Establishing a budget allows you to reflect upon your income and liabilities, and become aware of where your money is going. Budgeting is the best way to organize your money and save much more over time.

5.Pay yourself first!

Every time you get paid, pay yourself first by putting aside 10-20% of your income. This will add up and soon you will have extra money at the end of each month to enjoy!

6.And finally, hire a financial planner who will help you organize your money faster!

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. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Remember, “It’s All in Your Hands!”

/0 Comments/by

3 Ways to Create Work-Life Balance

‘’Balance is the key to everything. What we do, think, say, eat, feel, they all require awareness and through this awareness we can grow.’’

Did you know that if you create a positive work-life balance you will see the benefits in your business, finances, relationships and personal life, almost immediately?

While developing a successful career is a goal for most people, it is also very important to create a positive balance between work and personal life. Not only is it good for your wellbeing, but it also enables you to live a more fulfilling life and have greater success in all aspects of your life.

Achieving and maintaining a well-balanced work-life can be done by making a few little changes each day…

Here are three things you can start doing today to help strengthen your work-life balance:

1.Priortize your time.

When you manage your time wisely, ensuring you also make time for you, your family and your business, you will develop stronger relationships, networks and connections, which leads to a happier, healthier, work-life balance.

We can’t do it all, and that is okay! But, we can control the way in which we manage our time and we can arrange for people to help us with tasks along the way.

2.Do what you love.

I know you must have heard this before, but the truth is, when you make time for things that you love, you will feel recharged, refreshed, and energized.

Having hobbies and allowing yourself to take time to explore your interests, is essential to becoming the best business owner you can be.

3.Manage your mind.

When you constantly work on your mind and mental health, you develop strategies to help you cope with stress, fear, doubt and anxiety.

To begin to manage your mind, read business success books, work with a coach, learn how to meditate, and spend time with people who support you and make you feel good. This will help you to stay focused and will contribute to a much healthier work-life balance.

If you are interested in learning more, 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. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Remember, “It’s All in Your Hands!”

/0 Comments/by

4 Reasons To Use a Credit Card Wisely

‘’Sometimes it’s not about the money, but rather the process of managing the money.’’

There are a lot of mixed feelings and reviews about credit cards. Some people have spent countless hours, energy and money trying to prevent the public from falling into a “credit card trap” which is partially understandable. However, according to financial experts, this is not the case, when credit cards are used wisely, correctly, and for your benefit!

Research shows that when used wisely, for healthy debt, credit cards can become an ‘’invaluable financial tool’’ that offers ongoing benefits…  

So, if credit cards are being used for healthy debt, like you would use your regular debit card, where you only pay for all the usual things you budget for with your current income, and if you pay it in full at the end of the month, having a credit card can positively impact your overall financial state.

Remember, if you ensure you pay it off at the end of the month, so you do not have to pay any interest, and don’t spend on materialistic items that you do not need, here are four reasons why you should start using a credit card, wisely!

1.Credit cards help you to build or improve your credit score.

If you are interested in buying a home, car, or one day want to take out a business loan, one of the first things that will be checked is your credit score.

Using a credit card, wisely, will enable you to make greater purchases (e.g. car) with lower interest, which will be very useful in the long run. Keep in mind, it will take time to build your credit and show you have been responsible with payments over months and years, so using a credit card is a great way to start!

2. Credit cards offer insurance.

Most credit cards offer different types of insurance, which can save you money while you travel, rent a car, or replace a product, and they offer you security as well.

For example, if you buy an item that is damaged or isn’t delivered and you were still charged, credit cards serve as a form of protection. In such circumstances, when making larger purchases, it is beneficial to purchase items with your credit card, rather than your debit card.

3. Credit cards sometimes offer great 0% interest options.

Most credit cards offer a 0% interest introductory offer, which us usually valid for the first year, and sometimes more!

Using a credit card during a 0% interest period is a great tool to use as balance transfers, if you do have any other debts with high interest to pay off, and want to start fresh. It can also be used to cover business innovations or improvements.

4. Credit cards have excellent perks.

All credit cards offer perks, some vary depending on whether you would like to use rewards as cash back, travel miles, and more. Some cards offer incredible signup bonuses, rewards opportunities, and/or a points scheme, and you can decide what you would like to redeem your points for.

If you are interested in learning more, 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. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Editor’s Choice:

6 Tips for Thriving in Business

How to Make More Money

Three Ways to Manage Your Money Better

Choosing the Right Financial Planner

The Secret to Achieving Financial Freedom

/0 Comments/by

6 Tips for Thriving in Business

“Always deliver more than expected.” – Larry Page, Co-Founder of Google

Creating a successful business requires a combination of strategies, but most importantly, the focus must foster continual development, flexible thinking, strong leadership and management, constant reflection, planning and organization, and promote and provide consistent value. With this in mind, you, yes you, can create a successful, thriving business!

And it is much easier than it sounds…!

It is not a secret that everyone desires success, whether it’s in the area of business, one’s personal life, financially, physically, and more. However, to succeed in business, as well as in all areas of your life, proper planning and hard work, plays a key role. Fortunately, it truly is possible for anyone to achieve!

Here are six tips for thriving in business by experienced financial planners:

1. Become resourceful.

Take advantage of all the resources available to you. Nowadays we are very fortunate to have so much available to us at anytime of day. We can use Google to learn information about any topic our heart desires, connect with people from all over the globe, travel with convenience, and so much more. There are endless amounts of information being shared each and every day.

Once you decide on your business aim, take time to research and review the resources available to you, with this in mind you will see an instant change in your business!

2. Plan your time wisely.

Everyone is always saying that they do not have enough time. Have you heard the famous quote saying, “You have exactly the same number of hours per day that were given to Helen Keller, Mother Teresa…Albert Einstein…and more…”It is not that you don’t have enough time. You are not using your time wisely.

When you carve out time and make use of the resources available to you, you will begin to see that you do have time to accomplish your goals. Just give it some time!

3. Get to know your customers.

Do you make time to really listen to what your customers’ wants and needs are? Do you know their ultimate goals and desires? One of the best business strategies is to inquire more.

Making it a mission to get to know your customers and develop a trusting relationship with them, truly helps your business to make a lasting, valuable impact, and will further enable your business to thrive.

4. Give Back to Your Community.

Continual growth and personal development stems from helping others, offering value and contributing to something greater. Giving back to your community will help you to feel connected to something meaningful and also is an opportunity for people to hear about the value your business offers.

5. Use Social Media.

Using social media enables you to market your business and personal brand to the next level!

Social media has become an integral part of business development and when used consistently, it is a successful marketing strategy. Social media marketing is a way for you to share your mission and communicate with more potential clients around the world, as it is a tool for you to tell your story and demonstrate what value you offer.

6. Hire a financial Planner.

Finally, hiring a financial planner to support you throughout your business endeavors will help your business continue to make money and thrive at a faster rate!

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. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

Editor’s Choice:

What Are Living Benefits of Life Insurance?

What’s Long-Term Disability Insurance?

Why Life Insurance Is So Important

Smarter Bookkeeping Habits

Why is Cash Flow SO Important?

What is Strategic Tax Planning?

Financial Planning can SAVE Your Business

Financial Planning for Beginners

3 Ways to Succeed Financially in College

/0 Comments/by