Alignable Announces Jeffrey Schweitzer of NFS – Northeast Financial Strategies Inc. as a 2021 Local Business Person Of The Year https://alignable.com/l/e9dtz
Schweitzer Emerges As A Winner In National Competition Celebrating Hometown Business Heroes Supporting Peers During COVID Era
BOSTON, MA: February 16, 2021 — The largest online referral network for small businesses, Alignable.com is announcing the results of its month-long North American search for local business leaders who’ve gone above and beyond to help peers during the COVID Crisis. Today, Alignable’s network is honoring Jeffrey N. Schweitzer, EPA, CEP, ATP, RTRP of Northeast Financial Strategies, Inc. as Wrentham’s 2021 Alignable Local Business Person Of The Year!
Alignable amassed an incredible 86,000+ votes and recommendations about hometown business heroes. This is the third year Alignable has hosted this contest and the participation levels for 2021’s competition topped 2020’s by a monumental 800%. During a time where at least two-thirds of small businesses have regularly reported suffering negative effects from COVID issues, it’s clear with this outpouring of support just how much small business owners wanted to recognize the extraordinary efforts of their peers.
A Testament To The Bond Between SMBs
“To see so many business owners celebrate their peers was awesome — 60 votes landed every minute at the height of the contest,” said Eric Groves, Alignable’s Co-Founder and CEO. “This frenetic level of participation is a testament to the strength of the business relationships forged and reinforced over the past year.” Alignable’s 2021 Local Business Person Of The Year Contest ran from January 6 to February 5, 2021.
Alignable invited its 6 million+ members to vote for their favorite peers. In all, 2,962 local business people emerged victorious across North America, after 61,000+ votes were tallied and 25,000+ recommendations were reviewed.
We’re Stronger Together
”The Wrentham community means a great deal to me and, like many of my peers, I have gladly helped my fellow small business owners overcome a number of obstacles during this tough time,” said Schweitzer. “I am
beyond honored to receive this award and very grateful for the heartwarming support from my peers. We’re all stronger together.”
Schweitzer and other 2021 Local Business People Of The Year in communities across the U.S. and Canada have received badges on their Alignable profiles, in recognition of their contributions. In past years, the
awareness generated through this contest has helped drive additional connections, prospects, and new business for many winners.
Networking Surge Kicks Off 2021
“We hope the popularity of this year’s contest will lead to even greater awareness and business success for 2021’s winners,” said Alignable’s Co-Founder and President Venkat Krishnamurthy. “We’ve already heard
from some members that the surge in networking, referrals, and recommendations that occurred during 2021’s contest got them off to a stronger start this year.”
To arrange interviews with Schweitzer and/or an Alignable representative, please contact Alignable’s Head Of PR Chuck Casto at chuck@alignable.com. He also can offer JPEGs and other visuals, recommendations supporting winners, and additional information.
About Northeast Financial Strategies Inc.
Northeast Financial Strategies Inc. is a financial services organization with highly trained professionals working together to provide products and services to individuals & business owners. We are dedicated to problem
solving which is reflected in our diversified portfolio of resources. We offer Financial & Estate Planning, Investments, Insurance, Accounting, Payroll, Income Tax Preparation, & Notary Public Services for Individuals
& Small Businesses. Since opening our office in Wrentham in the Fall of 2010, Northeast Financial Strategies has consistently been voted by readers #1 in the Wicked Local Awards in the categories of Accountant,
Financial Planner and Insurance Agency. We have also brought home Regional Favorite Awards in the Accountant & Financial Planner categories consistently since 2016.
About Alignable
Alignable.com is the largest online referral network for small businesses in the U.S. and Canada. With 6 million+ members across 35,000+ local communities, Alignable is the network where small business owners
drive leads and prospects, generate referrals, land new business, build trusted relationships, and share great advice.
Jeffrey Schweitzer can be contacted at jeff@nfsnet.com or 800-560-4637 extension 14
Any business owner knows that managing cash flow is crucial to the success of a business. As long as more cash is flowing in than flowing out, your business can be robust and stable — and continue to grow. While this is obvious in theory, it’s not always easy to achieve in practice, especially for business owners who are unaware of the common problems and pitfalls that can negatively influence cash flow.
Since cash flow failure can spell doom for a business, you need to be aware of these problems and how to steer clear of them to keep your company thriving. Here are some of the top mistakes new business owners make — and how you can avoid them.
Not keeping a cash cushion.
Many of us go through thin times when having a cash reserve is impossible. Starting a business in such circumstances would be risky. Because businesses, especially in their early phases, go through ups and downs, you will need that extra cash padding to make sure you meet all your obligations. Depending on the size and nature of your business, calculate how much cash you need to survive should your operations be put on hold or if income flow ceases for approximately three months’ time. If you plan to start a small business but don’t have a cash reserve, delay your start date until you have built an adequate fund. Then, create a separate savings account for your cash cushion. And, as soon as possible, start adding to it. This account should remain untouched except in the event of an emergency.
Buying non-essentials.
Something about the thrill of launching a new business, like the thrill of buying a house or planning a remodel, can prompt overly exuberant shopping. You have a list of necessary purchases and have budgeted for them, but as you shop, you keep noticing other products or programs that seem enticing. Do not impulse buy, no matter how appealing a product looks! Find out whether you really need it, if it could realistically add value to your business, and whether you can afford it without sacrificing necessities or dipping into your emergency reserve.
Failing to budget – and bank – smarter.
If you don’t know every detail of your projected expenses, you can’t budget for them. Go over every aspect of your business plan and consult a professional to make sure there are no hidden fees or costs you aren’t accounting for. Next, create a budget that is both exhaustive and realistic — one that doesn’t hinge on windfalls, deals, sales, or bargains and doesn’t rely on overly optimistic sales predictions. Most importantly, stick to that budget! You will need to be meticulously organized in order to adhere to your budget, so consider using apps or software programs to help.
Another crucial component is having the best small business bank account available. When choosing a banking institution, your checklist for optimal features should include free instant deposit and an option to sync with your payroll, to help you streamline your processes. Other important perks to look for are high-yield interest, no minimum fees, and cash flow forecasting.
Getting behind on your bookkeeping.
No matter how much you pride yourself on self-reliance, when it comes to managing your books, the risks of falling behind or making errors are significant. You don’t want to get into a bind just because you were multitasking and your records got away from you. Paying employees, attending to payroll as a whole, filing your quarterly estimates, and paying federal taxes all require organization and vigilance, so consider hiring an accounting service like Northeast Financial Strategies to help make a tax plan, do your accounting, or at least, double-check for you as you go.
You should also regularly review your records and store them safely where you can easily access them, whether physically or online.
Even a small period of bad cash flow can be a warning sign, so plan well and watch your finances closely. If you stay vigilant and proactive before a problem arises, chances are, you will easily avert it.
Northeast Financial Strategies (NFS) has an array of resources to help small business owners stay on top of cash flow and other aspects of financial management. Book an appointment today.
WASHINGTON ― The Internal Revenue Service announced that the nation’s tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns.
The February 12 start date for individual tax return filers allows the IRS time to do additional programming and testing of IRS systems following the December 27 tax law changes that provided a second round of Economic Impact Payments and other benefits.
This programming work is critical to ensuring IRS systems run smoothly. If filing season were opened without the correct programming in place, then there could be a delay in issuing refunds to taxpayers. These changes ensure that eligible people will receive any remaining stimulus money as a Recovery Rebate Credit when they file their 2020 tax return.
To speed refunds during the pandemic, the IRS urges taxpayers to file electronically with direct deposit as soon as they have the information they need. People can begin filing their tax returns immediately with tax software companies, including IRS Free File partners. These groups are starting to accept tax returns now, and the returns will be transmitted to the IRS starting February 12.
“Planning for the nation’s filing season process is a massive undertaking, and IRS teams have been working non-stop to prepare for this as well as delivering Economic Impact Payments in record time,” said IRS Commissioner Chuck Rettig. “Given the pandemic, this is one of the nation’s most important filing seasons ever. This start date will ensure that people get their needed tax refunds quickly while also making sure they receive any remaining stimulus payments they are eligible for as quickly as possible.”
Last year’s average tax refund was more than $2,500. More than 150 million tax returns are expected to be filed this year, with the vast majority before the Thursday, April 15 deadline.
Under the PATH Act, the IRS cannot issue a refund involving the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) before mid-February. The law provides this additional time to help the IRS stop fraudulent refunds and claims from being issued, including to identity thieves.
The IRS anticipates a first week of March refund for many EITC and ACTC taxpayers if they file electronically with direct deposit and there are no issues with their tax returns. This would be the same experience for taxpayers if the filing season opened in late January. Taxpayers will need to check Where’s My Refund for their personalized refund date.
Overall, the IRS anticipates nine out of 10 taxpayers will receive their refund within 21 days of when they file electronically with direct deposit if there are no issues with their tax return. The IRS urges taxpayers and tax professionals to file electronically. To avoid delays in processing, people should avoid filing paper returns wherever possible.
Tips for taxpayers to make filing easier
To speed refunds and help with their tax filing, the IRS urges people to follow these simple steps:
File electronically and use direct deposit for the quickest refunds.
Check IRS.gov for the latest tax information, including the latest on Economic Impact Payments. There is no need to call.
For those who may be eligible for stimulus payments, they should carefully review the guidelines for the Recovery Rebate Credit. Most people received Economic Impact Payments automatically, and anyone who received the maximum amount does not need to include any information about their payments when they file. However, those who didn’t receive a payment or only received a partial payment may be eligible to claim the Recovery Rebate Credit when they file their 2020 tax return. Tax preparation software, including IRS Free File, will help taxpayers figure the amount.
Remember, advance stimulus payments received separately are not taxable, and they do not reduce the taxpayer’s refund when they file in 2021.
Key filing season dates
There are several important dates taxpayers should keep in mind for this year’s filing season:
January 15. IRS Free File opens. Taxpayers can begin filing returns through Free File partners; tax returns will be transmitted to the IRS starting Feb. 12. Tax software companies also are accepting tax filings in advance.
January 29. Earned Income Tax Credit Awareness Day to raise awareness of valuable tax credits available to many people – including the option to use prior-year income to qualify.
February 12. IRS begins 2021 tax season. Individual tax returns begin being accepted and processing begins.
February 22. Projected date for the IRS.gov Where’s My Refund tool being updated for those claiming EITC and ACTC, also referred to as PATH Act returns.
First week of March. Tax refunds begin reaching those claiming EITC and ACTC (PATH Act returns) for those who file electronically with direct deposit and there are no issues with their tax returns.
April 15. Deadline for filing 2020 tax returns.
October 15. Deadline to file for those requesting an extension on their 2020 tax returns
Filing season opening
The filing season open follows IRS work to update its programming and test its systems to factor in the second Economic Impact Payments and other tax law changes. These changes are complex and take time to help ensure proper processing of tax returns and refunds as well as coordination with tax software industry, resulting in the February 12 start date.
The IRS must ensure systems are prepared to properly process and check tax returns to verify the proper amount of EIP’s are credited on taxpayer accounts – and provide remaining funds to eligible taxpayers.
Although tax seasons frequently begin in late January, there have been five instances since 2007 when filing seasons did not start for some taxpayers until February due to tax law changes made just before the start of tax time.
