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Getting Credit
Tennessee Tax News
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| Due Dates
- 7/20/09 Sales tax returns for June and second quarter
- 7/31/09 Federal and state payroll tax returns
- 8/20/09 Sales tax returns for July
- 9/1/09 Knoxville and Knox County Business Tax (Class 3)
- 9/15/09 Estimated tax payments
- 9/15/09 NEW Extended tax return deadline for partnerships,
corporations, estates and trusts
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| Greetings!
Greetings,
As we trudge along through the recession, many of us continue working hard to keep our businesses going from day to day. It’s a good idea to think long-term too, so that you can be in a better position to excel as the economy improves. For example, as work slows, you may find more time to nurture relationships with your current and prospective clients. This will help build goodwill that should be advantageous in a tough competitive environment, now and into the future. The mood now seems less defensive than back in the fall and winter, so it may be time to get some deals moving as people emerge from their storm-shelter mentality. And you certainly want them to know that you’re still in business!
Tough times also create opportunities for those who creatively imagine the possibilities. We are beginning to see stimulus money flow into the local economy for various infrastructure projects and government institutions. You may be able to tap into that flow by expanding your vision for your company. Take a look at Recovery.gov to see where the money is flowing. You might find opportunities in government contracting at FedBizOpps.gov.
The stimulus package also subsidizes emerging industries in renewable resources and other areas. If you have some excess capacity, maybe you could leverage your staff’s expertise by expanding your focus into a market you had not considered before. Other perks in the stimulus package may allow you to combine discounted market prices with government incentives that sweeten the cost-benefit analysis. The combination could make it worthwhile to invest in improvements that will help your company be more competitive or open a new market.
We’d like to hear from you about ways you’re rethinking your business, finding creative ways to apply your expertise, and keeping the doors open for your customers. And our door is open if you’d like to bounce some ideas off of us.
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Getting Credit
After the credit freeze made financing difficult or impossible for the last several months, the thaw appears to be slowly continuing, especially among community banks and credit unions. This report outlines where some small businesses are getting credit.
Tennessee Tax News
Tennessee has retroactively increased both the taxable wage base and the premium rate for unemployment insurance. Employers should have received notices in the mail by now; if you have not, read it here. If you file online, make sure the wage calculations are correct before submitting the report.
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About Van Elkins & Associates, CPAs
We are always working on ways to help you manage your business better and to provide the services you need whether times are good or hard. We appreciate the trust you place in us, and we’ll continue to do our best in your interest.
Van Elkins
800 S Gay Street
Knoxville, Tennessee 37929
Van Elkins & Associates, CPAs
865-523-8700
Van Elkins
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