Why Should Your Business Consider Hiring Veterans?
It can be challenging for veterans to transition back to civilian life, especially when it comes to finding a job. Many of the tasks performed and skills acquired during military service don’t translate to the skills listed in a more traditional resume. However, with some understanding of how military skills can be utilized in the corporate workspace, employers will find that there is a great advantage in hiring veterans.
Top 5 Reasons for Hiring Veterans
1. Trained for Leadership
First of all, veterans excel at working in and leading teams. Military training includes putting the greater good ahead of personal interests. Trained in collaboration and cooperation, veterans look out for the goals of the team and not just personal gain. This develops trust among the team and helps it to succeed and achieve their objectives. In the military, veterans learn leadership skills and also gain valuable experience working with both subordinates and superiors. Plus, as most men and women join the military as young adults, they have developed and honed their leadership qualities for a longer period of time than most corporate workers.
2. Quick Learning
Veterans were constantly learning to meet the expectations and master the skills necessary to fulfill their duties in the military. Through personal development, formal schooling, or in unit training, veterans started learning from the moment they joined the military. They develop a growth mentality and continue to seek out new knowledge and training. Military personnel is expected to learn quickly and efficiently, retain the information, and shift to something else.
3. Adaptability and Flexibility
Another asset of military training is adaptability. When hiring veterans, you gain an employee is quick thinking and can switch gears as needed. In the military, one never knows what the day might bring, what obstacles may be encountered and what tasks need to be accomplished. A veteran will be able to adapt to new environments, hurdles, and changing goals.
4. Performance under Stress
Hiring veterans will give you an employee that handles stress well. They will not be shaken in stressful situations and won’t buckle under pressure. In the military, mistakes and bad decisions can permanently affect lives, so veterans are trained to take their jobs seriously and avoid rash decisions. They analyze information, work through the problem, and trust their intuition.
5. Open to Direction
In addition, veterans can take constructive criticism well. They are used to debriefing and reviewing after tasks and actions. They know how to gain insight and identify areas that need improvement. When your company hires a veteran, you get the benefit of his or her experience with analyzing situations for missed opportunities and/or blind spots. Plus, you can be assured that any fixes and corrections will be applied without hurt feelings. Veterans will continually seek growth and improvement.
Common Characteristics of Veteran Employees
When hiring veterans, you also gain an employee with a vast array of additional experience and qualities:
- Technical experience and training
- Organizational skills
- Problem-solving skills,
- Keen decision makers
- Isn’t afraid of hard work
- Takes responsibility seriously
- Initiative and drive
- International familiarity, which can be a great asset in our global economy.
If you aren’t already convinced that hiring veterans is a wise business decision, you will be excited to learn that there are some available incentives and tax benefits. To learn more, visit the Veterans Affairs website.
Are you looking for other ways to help your business? Do you need money to finance payroll, inventory, and other expenses? American Receivable has over 100 years of combined financial service experience. Since 1979, our outstanding professionals have been dedicated to each client and their specific needs. There are no up-front fees, hidden costs, or long-term contracts, which are common with our competitors. Call for a FREE Quote Today: 1-800-297-6652 or complete an application for factoring online.
Tax Changes for Business Owners
The dreaded part of every new year has arrived, and it is called Tax Season! It is not uncommon for business owners, even those with the best record keeping in place, to be recipient of some unexpected surprises when it comes time to send in their taxes.
Tax Reform Legislation was passed in December of 2017. The IRS has published some of the changes that may affect self-employed individuals as well as the bottom line for many small business owners. It is important to be aware of these changes when filing your 2018 business tax returns.
Qualified Business Income Deduction
Owner’s of sole proprietorships, partnerships, trusts and S corporations may deduct 20% of their qualified business income (Section 199A qualified business deduction) for the first time on their 2018 returns.
The deduction applies to qualified:
- Business Income
- Real estate investment trust dividends
- Publicly traded partnership income
For more information on this deduction see REG-107892-18 at www.irs.gov.
Temporary 100% Expensing for Certain Business Assets
Business assets with a recovery period of 20 years or less generally qualify. Some real property such as office equipment, machinery, furniture and appliances may also apply.
Fringe benefits cover a broad spectrum. Some of the benefits affected are:
- Meals and Entertainment. The deduction for entertainment or recreational expenses has been eliminated. Fifty percent of the cost of business meals may be allowed if the business owner or an employee is in attendance and consulting for current or potential clients, or similar business contacts. Other qualifying criteria may be
- Deductions for transportation fringe benefits has been disallowed, as well as benefits associated with commuting. The exception is made when these benefits are in place as a necessity for safety.
- Bicycle Commuting. Qualified bicycle commuting may be deducted as a business expense for 2018-2025. Employers are now required to include these reimbursements in employee
· Moving Expenses. Moving expenses reimbursed by an employer to an employee are now taxable. Moving expenses for years prior to 2018 are exempt. Payments made by employers to a moving companies in 2018 for a prior year, are also exempt.
- Employee Awards/gifts. Employee awards considered tangible personal property may be excluded from wages. Some of these may be deducted by the employer, subject to New definition of tangible personal property is not inclusive of cash, gift cards or cash equivalents, event tickets, stocks, meals and other like items.
For a complete explanation, specifics and FAQ’s go to www.irs.gov.
Any aspect of the Tax Reform may affect your business. Many business owners experience a cash deficit when they have to put available funds toward taxes. American Receivable is here to help! Business owners can sell their outstanding invoices to American Receivable for immediate funding, eliminating a slow- down in business due to lack of cash. Cash is vital for any business to flourish as expenses such as payroll, rent, and other operational costs have to be met. The ability to obtain cash for invoices allows the business owner to put funds where they feel they are most needed to keep their business on track and growing.
Call American Receivable today and let us help you survive tax season!
Building A Customer Focused Business
The Value of Business to Business Relationships
American Receivable Corporation considers it’s business relationships within the financial community to be one of its greatest assets. American Receivable’s partnerships within the banking community and with professional CPA’s spans over 39 years These relationships have been mutually beneficial to us, the bankers and CPAs as well as our factoring clients.
No matter what type of business, it is important to have good financial advisors. Commercial lenders help clients manage accounts within the bank and review projected capital requirements. A well-respected CPA will help manage taxes, cash flow, and other financial challenges.
These relationships give American Receivable the ability to match clients with the right financial professionals. Commercial lenders often send us clients that do not meet the federal banking criteria for business loans. When this happens, the lender will contact American Receivable Corporation. We work with the client to find the best solution for their cash flow needs and their specific business. In turn, we recommend they keep their accounts with the lender that sent them to us. At the point they qualify for a traditional business loan and wish to go that route, they already have a lender familiar with their business and their challenges.
CPA’s managing business accounts often call us when they see cash flow needs for their client. We work closely with the CPA and the client to ensure the best solution for their specific needs. The CPA continues to handle accounting for the growing business and catch any cash related problems early.
American Receivable is proud of our long term relationships in the industry. These relationships allow us to work together for our clients. We consider our clients based on the credibility of their customers, not on their personal credit. American Receivable is able to work around many of the criteria that are required in traditional business lending.
Our clients are always our first priority. At American Receivable we pride ourselves on our exceptional customer service and dedicated and tenured account managers. We can provide funding within as little as 24 hours in some cases. The success of our clients is the success of American Receivable.
ARC Continuing Relief Efforts
American Receivable Corporation is continuing relief efforts by offering special rates to businesses affected by Hurricane Harvey and extending those rates to those affected by Hurricane Irma. American Receivable has already aided eight Houston area small businesses in their recovery efforts in the last month with hopes to grow that number as it extends to Florida. Discounted rates start as low as .8% with up to 90% funding in 24 hours.
People helping people is what keeps America strong. Call us today and let us help Texas and Florida rebuild.
American Receivable Offering Special Rates for Houston
American Receivable Corporation is now offering special rates for Houston. American Receivable is Texas Proud and is currently offering special rates to businesses in Houston needing capital to recover from Hurricane Harvey. While there is so much that still needs to be done, some of these businesses could be of great value to that effort. Houston business owners have been extremely generous in efforts to help the citizens of Houston persevere through this catastrophe. American Receivable would like to offer these special rates for Houston businesses needing quick access to capital to rebuild or continue operations.
The world has seen what a great state Texas is and how everyone has come together. Texas has proven that whether you were born in Texas or somehow ended up here, we are all working toward the same goal. Call us today and let us help Houston recover and rebuild. Nothing is too big for Texas or American Receivable.
The Evolution of Invoice Factoring
Factoring has been around in some form or another for centuries, yet it is still a relatively untapped source of finance for many businesses. In fact, invoice factoring is typically a small part of the curriculum in many university finance departments. Let’s take a look at the history and evolution of the world of factoring.
The principal of factoring began sometime during the Mesopotamian Era around 1772 BC. It is believed that the rules for factoring or financing of trade was laid out in the Babylonian law code called The Code of Hammurabi, one of the oldest deciphered writings of significant length in the world. This alludes that factoring was used as a source of cash flow for businesses in England prior to the 1400’s.
In the early 1300’s and into the 1400’s, factoring was predominantly used by clothing merchants and traders. The “factor” would take possession of the physical good and provide cash advances to the merchant. The “factor” would then extend the financed credit to the buyers and insured the credit strength of the buyer. In the early 1600’s, factoring reached the Americas and colonist took quickly to the idea of factoring as they needed advances on the raw materials they were shipping to across the Atlantic to England. When the Industrial Revolution began, non-recourse factoring became a popular option for clients who were creditworthy. As the United States neared the early 20th century, the garment and textile industry brought factoring full circle as they utilized factoring as an avenue to continue to purchase raw materials.
Factoring continued to take shape throughout the 1900’s as small businesses who were not eligible for bank loans needed funding. In the 1940’s, banks in the United States began offering factoring services as the need for factoring had boomed in the textile and manufacturing industries. During this time, banks and “factors” were now purchasing a company’s invoices or receivables rather than taking possession of the physical goods. This idea transformed the industry into what it is referred to as today, invoice factoring or receivables factoring. The factoring industry continued to gain popularity in all business industries. When the savings & loans crisis began to heat up in the 1980’s, banks were in need of assistance with their customers and turned to factors for assistance. In the early 2000’s the U.S. economy plunged increasing the use of factoring companies as businesses were struggling to stay afloat.
Over many centuries, invoice factoring has been a means of financing for many businesses. As the economy continues to grow and new businesses emerge, the factoring industry will continue to be a source of financial support for centuries to come.
It is a pleasure to write this testimonial for American Receivable. I’ve been associated with the company for over 20 years. They assisted me in the initial start-up of Systems Source, Inc. in 1995 and have stood by me the entire time I’ve been in business, both the good times and the bad. Jack and Brad have truly been business partners.
The true test of a partner comes when there is a crisis and you are fighting your way back. When other lenders would discontinue service, Jack and Brad listen, understand and assist you in working through the problem. They are with you all the way.
American Receivable is not just a lender, they are your partner. If other companies seem to offer a better deal, believe me, it’s not. You are not just an account with Jack and Brad. You have access to the decision makers, who are interested in your success.
Philip Eichelberger, President Systems Source, Inc.
How Technology Has Improved Invoice Factoring
In today’s time, many people cannot imagine running a business without the aid of technology, and the evolution of technology has changed the way we do business on a daily basis. Computers, software, apps, video, etc. have allowed companies to expand their businesses well beyond the borders of their home base. For factoring, it has created endless possibilities for how and where business can be done.
In the late 70’s early 80’s as factoring was just coming to light as one of the newest options to assist businesses with cash flow, everything, for the most part, was done by hand, limiting the amount of business that a factoring company could take on. Because computers were relatively new to the business world and incredibly expensive, many companies used what they knew best, pen and paper. It took hours to process schedules, write checks, post payments and create and sign contracts. Face to face time was not lacking and allowed companies to build relationships with their clients, but it limited the number of clients one could take on.
As technology advanced, the factoring industry began to explode. Software programs began to take the place of pen and paper, allowing for more information to be processed faster, giving companies the ability to take on more clients. The use of email was a game changer for all industries. Faster communication with their clients created an avenue for growth. While face-to-face time is often lost, factoring companies could now expand their factoring efforts across the US and beyond. Online banking has given clients the ability to be funded immediately, right into their bank accounts. Social media has given the freedom to advertise and reach mass markets reducing marketing budgets.
Technology is an ever-advancing force that will continue to allow companies and industries to push beyond what they ever thought was possible. Factoring has grown exponentially and will only continue to reap the benefits that technology has to offer benefiting small businesses across the world. While technology has its positives and negatives, in the world of business, it’s again for everyone.
American Receivable Remains #1 for Third Consecutive Year
Dallas, Texas– For the third consecutive year, Top Ten Reviews has ranked American Receivable as the #1 factoring company in the U.S. American Receivable was one of the first factoring companies in the DFW metroplex, and for the last 39 years, American Receivable has provided cash flow solutions to businesses across the nation.
American Receivable offers custom tailored working capital for each client at some of the lowest and most competitive rates in the industry starting at .8% with up to 95% advances. American Receivable offers a quick and seamless application process with no upfront or hidden fees. Clients can receive funding in as little as 24 hours and require no monthly minimums or maximums.
If you need financing call American Receivable at 972.404.4726 or on the web at www.americanreceivable.com