Rotary International, a global service organization, is known for its dedication to humanitarian efforts and community service. However, beyond its philanthropic work, Rotary also offers a unique platform for Rotarians to connect and promote economic growth within their communities. Rotary Means Business is an initiative within the Rotary framework that encourages Rotarians to support the success of their fellow Rotarians by doing business with them and referring others to their services. In this blog, we will explore the reasons why networking at Rotary Means Business can be a game-changer for your business and your local community.

1. Building Trust and Solid Relationships
One of the key principles of Rotary Means Business is building trust and solid relationships among Rotarians. The Rotary network is comprised of dedicated professionals who are committed to the organization's values of service and ethical conduct. When you engage in business with a fellow Rotarian, there's an inherent level of trust that you can rely on. This trust forms a strong foundation for successful business relationships, making it easier to collaborate and support each other's endeavors.

2. An Extensive and Diverse Network
Rotary International boasts over 1.4 million members across the globe. This vast network presents a unique opportunity to connect with people from various professions and industries. By networking at Rotary Means Business events, you can tap into this diverse and extensive network, opening doors to new business opportunities, partnerships, and collaborations that you might not have encountered elsewhere.

3. Word-of-Mouth Referrals
One of the most valuable aspects of Rotary Means Business is the culture of referrals. Rotarians actively refer other Rotarians to their business contacts and associates. This word-of-mouth marketing can significantly boost your business's visibility and credibility. When a fellow Rotarian refers you, it's often viewed as a strong endorsement, which can help attract new customers, clients, or partners.

4. Professional Development
Rotary Means Business not only helps with business growth but also supports your professional development. Networking events often feature guest speakers and presentations on a variety of topics, such as leadership, entrepreneurship, and industry trends. These educational opportunities can equip you with the knowledge and skills necessary to stay competitive and thrive in your business.

5. Community Impact
As a Rotarian, your participation in Rotary Means Business also has a positive impact on your local community. When Rotarians support each other's businesses, it contributes to the economic growth of the community, creates job opportunities, and fosters a sense of camaraderie among local business owners. This, in turn, strengthens the overall community fabric.

6. Alignment with Rotary's Core Values
Rotary International is guided by the Four-Way Test, a set of ethical principles that emphasizes truth, fairness, goodwill, and beneficial outcomes. Networking at Rotary Means Business aligns perfectly with these values, as it encourages honest, fair, and mutually beneficial business interactions. By participating in this initiative, you not only uphold Rotary's principles but also contribute to a thriving and ethical business environment.

Conclusion
Rotary Means Business is a powerful avenue for Rotarians to leverage their professional skills and networks for the benefit of both their businesses and their communities. Through trust, a diverse network, referrals, professional development, community impact, and alignment with Rotary's core values, networking at Rotary Means Business offers a wealth of opportunities. So, if you're a Rotarian looking to enhance your business and make a positive impact, consider becoming an active participant in Rotary Means Business events – it's a win-win for you and your community.

​Register today!
https://form.jotform.com/232815720353149

​Open enrollment is an important period during which individuals can make changes to their health insurance, benefits, and other workplace-related selections. Here are some key considerations people should keep in mind when going through the open enrollment process:

1. Plan Options: Understand the different health insurance and benefit plans available to you. Consider factors like deductibles, premiums, coverage networks, and plan types (e.g., HMO, PPO, or HDHP).

2. Current Coverage: Review your current coverage to identify what worked well and what didn't in the past year. This can help you make more informed decisions for the upcoming year.

3. Life Changes: Take into account any significant life changes that may affect your coverage needs, such as getting married, having a child, or experiencing a change in your health.

4. Budget: Assess your budget and determine how much you can afford in terms of premiums and out-of-pocket costs. Ensure you choose a plan that aligns with your financial situation.

5. Network Providers: Verify that your preferred healthcare providers, doctors, and specialists are in-network for the plan you're considering. Going out of network can be expensive.

6. Prescription Coverage: If you take regular medications, check whether they are covered under the plan and at what cost. Look into formularies to see if there are generic alternatives.

7. Wellness Programs: Some employers offer wellness programs that can help you save money or improve your health. Look into these and see if they're a good fit for you.

8. Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs)**: If available, consider contributing to these accounts for tax benefits. FSAs are used for eligible medical expenses, while HSAs are for those with high-deductible health plans and can be used for medical expenses or saved for the future.

9. Coverage for Dependents: If you have dependents, make sure to enroll them in the appropriate coverage. Assess their healthcare and dental needs.

10. Dental and Vision Coverage: Evaluate whether dental and vision plans are part of your benefits and decide if you need these types of coverage.

11. Disability and Life Insurance: Review any disability and life insurance options provided by your employer. These can be essential for protecting your income and family.

12. Retirement Contributions: If your employer offers a retirement savings plan like a 401(k), consider adjusting your contributions based on your long-term financial goals.

13. Legal Documents: Review and update your beneficiaries on all insurance policies, including life insurance and retirement accounts.

14. Preventive Care: Understand which preventive services are covered at no cost and make sure to take advantage of them for your health.

15. Deadline: Be aware of the open enrollment deadline. Missing it may mean you can't make changes to your benefits until the next open enrollment period, unless you have a qualifying life event.

16. Ask Questions: If you have any doubts or questions, don't hesitate to reach out to your HR department or insurance providers for clarification.

17. Compare Plans: Take the time to compare different plans, either on paper or using online tools provided by your employer, to make an informed decision.

18. Seek Professional Advice: If you have complex insurance needs or are uncertain about your choices, consider consulting with an insurance broker or financial advisor.

19. Record Keeping: Keep records of your selections and any communication related to your open enrollment choices. This can be helpful in case of disputes or issues down the line.

Open enrollment is a critical opportunity to ensure that your healthcare and benefits align with your needs and preferences, so it's essential to make informed decisions.

Introduction:
In life, some threads stand out, weaving stories of passion, dedication, and camaraderie. For me, starting and nurturing a group called Engaging Speakers has been one such defining thread. Over two decades, this endeavor has evolved from a mere idea to a community of extraordinary individuals, all bound by the shared passion for public speaking and the transformative power of words.
 
In the summer of 2003, Gail Brown and I embarked on a journey to create a space where speakers, aspiring and seasoned alike, could come together, learn, grow, and inspire one another. Little did I know then that this journey would unfold into a transformative odyssey, touching the lives of countless individuals.
 
The Genesis of Engaging Speakers
Two decades ago, the seed of Engaging Speakers was sown from a desire to foster a supportive community for individuals enthusiastic about the art of public speaking. The initial vision was to create a space where people could not only refine their speaking skills but also find their authentic voice, connect with a network of like-minded individuals, and explore speaking engagements.
 
Cultivating Growth and Impact
The growth of Engaging Speakers over the years has been nothing short of phenomenal. What began as a small gathering of passionate speakers has blossomed into a thriving community of diverse voices, collectively making a significant impact in various spheres of life. The engagement and dedication of the members have been instrumental in turning this vision into a reality.
However, like any journey, the path to growth was not always smooth. Over the years, our community experienced its fair share of ups and downs, reflecting the ebb and flow of life and the world of professional speaking. But through it all, we persevered, adapting to changing landscapes and emerging stronger as a result.
 
A Collection of Great People and Amazing Speakers
The heart and soul of Engaging Speakers lie in its people—the members, each bringing their unique stories, experiences, and expertise to the table. Our community is vibrant, interwoven with a multitude of colors and patterns, united by the common goal of sharing knowledge, empowering others, and creating positive change.
 
The speakers who have graced our platform over the years have been the lifeblood of our community. Their inspirational talks, insightful guidance, and unwavering commitment to making a difference have left an indelible mark on all of us. Beyond sharing their wisdom, these speakers have also been invaluable connections for networking and securing speaking engagements, further propelling the growth of our community.
 
The Heartfelt Gratitude
As I reflect on the past 20 years, my heart swells with gratitude. Engaging Speakers has been a labor of love, fueled by the dedication of all involved. The joy of witnessing members' growth, the pride in their accomplishments, and the camaraderie that has been fostered—it's all beyond words.
 
Conclusion
In life, Engaging Speakers stands as a vibrant, enduring thread, representing growth, transformation, and the immense power of human connection. This journey has been a testament to the impact that a community of passionate individuals can have when united by a shared purpose. Here's to the next 20 years, where we continue to inspire, empower, make a difference, and forge new speaking engagements, one engaging speech at a time.
 
Come help us Celebrate the 20th Anniversary of Engaging Speakers at lunch on October 20th in Elk Grove
www.engagingspeakers.com/20th

A few Months ago, The Schaumburg Business Association (www.schaumburgbusiness.com) hosted a Leadership Luncheon featuring John Costello, Cherry's Industrial Equipment. He talked about how, after implementing Open Book Management, his employee engagement rose, employees stayed longer, and his business became more profitable. 
​
Open Book Management (OBM) is a management approach that involves sharing financial and operational information with employees at various levels within an organization. This transparency aims to help employees understand the company's financial health, objectives, and performance metrics. Here are some benefits of implementing Open Book Management:

1. Increased Employee Engagement: OBM fosters a sense of ownership and responsibility among employees since they can see how their work directly impacts the company's financial outcomes. This heightened engagement can lead to improved job satisfaction and motivation.
2. Enhanced Financial Literacy: Open Book Management helps employees develop a better understanding of financial concepts and how the organization generates revenue and profits. This knowledge can translate into more informed decision-making and better overall business acumen.
3. Alignment with Organizational Goals: When employees have access to financial information and understand the company's objectives, they are better able to align their efforts with those goals. This can lead to more focused and effective collaboration across departments.
4. Innovative Ideas and Problem-Solving: Open Book Management encourages employees to think creatively about improving the company's financial performance. Since they have a clearer picture of the challenges and opportunities, they can contribute innovative solutions and ideas.
5. Cost-Saving Ideas: Employees who are aware of the company's financial situation may be more proactive in identifying areas where costs can be reduced or efficiencies can be gained. This can lead to cost-saving initiatives that positively impact the bottom line.
6. Transparency and Trust: Sharing financial information openly demonstrates trust in employees and promotes a culture of transparency. This can enhance trust between management and staff and reduce potential feelings of secrecy or distrust.
7. Empowerment and Autonomy: When employees have access to relevant financial data, they can make informed decisions without waiting for top-down directives. This empowerment can lead to faster problem-solving and decision-making at all levels of the organization.
8. Performance Accountability: OBM provides a clear way to measure performance against key financial metrics. Employees can see the direct impact of their efforts on these metrics, which can encourage accountability and a sense of responsibility for results.
9. Crisis Management: In times of financial challenges or uncertainty, employees who understand the company's financial situation are better equipped to contribute to solutions and make informed choices to navigate the crisis effectively.
10. Improved Communication: OBM promotes open dialogue and communication among different levels of the organization. Teams can discuss financial data and performance openly, fostering better collaboration and sharing of insights.
11. Skill Development: As employees become more familiar with financial information, they develop valuable skills in interpreting financial statements, understanding market dynamics, and assessing business viability.
12. Attraction and Retention of Talent: A transparent and engaging work environment, such as that fostered by Open Book Management, can attract top talent and contribute to employee retention, as employees feel valued and part of something larger.

Overall, Open Book Management can lead to a more informed, engaged, and motivated workforce that works collaboratively toward the company's financial success and growth. However, successful implementation requires careful planning, effective communication strategies, and a commitment to transparency from leadership.

He wrote an article in the Daily Herald Sunday Business Section on Sunday, August 20, 2023 about how he uses the concept and the benefits:

https://www.dailyherald.com/business/20230820/open-book-management-a-way-of-doing-business-that-benefits-everyone

​Successful business owners tell us that they are concerned about:
​

• Rising labor costs
• Health Insurance
• Workers Comp
• Government Regulations
• Declining Sales
• Taxes
• Fighting Fires
• Tight Cash Flow
• Errors, Mistakes, Quality
• Productivity & Attitude
• Equipment Capacity
• Customer Demands
• Not having anyone to talk with

What concerns do you have?

Do they keep you up at night?

Successful business owners also tell us they have a solid relationship with their accounting firm. They indicate this has occurred because of a unique process that allows them to spend more of their time growing their business.

The result is increased business and a better night’s sleep!

Matching Ideas with Resources

Your business concerns are discussed during regular consulting sessions.  Our deep network of contacts can help you solve most of your business concerns. These specialists are experts in their respective field.
 

The Des Plaines Chamber of Commerce is an outstanding Organization for Business. Andrea Biwer, Executive Director has done amazing things for the business community since she became the ED. one of the things is offering a Podcast that features chamber member businesses. 

​https://www.dpchamber.com/podcast

I have enjoyed hearing many of these podcasts, but this one finally answered all my questions about the  Juneteeth Holiday. Andrea interviews Yolande Wilson Stubbs, President & Chief Post Acute Officer Ascension Holy Family. 

Yolanda not only gives us the historical significance of this important federal holiday but gives us ideas on being able to celebrate this holiday ongoing every year. 

Please take the time to listen to this, specifically today.

The IRS and tax professionals continue to see third parties aggressively promoting Employee Retention Credit schemes on radio and online.

Filers should carefully review the ERC guidelines before trying to claim the credit and be wary of offers promising tax savings that are too good to be true. Tax professionals are also reporting receiving undue pressure from clients to claim the ERC as a result of these scams.
These promoters push ineligible people to file a claim for the credit while charging the filer either large upfront fees or a fee that is contingent on the amount of their refund. Plus, the promoters may not inform taxpayers that they must reduce the wage deductions they claimed on the business’ federal income tax return by the amount of the credit.

The IRS has been warning about this scheme since last fall, but there continue to be attempts to claim the ERC made by ineligible filers during the 2023 tax filing season. This is a valuable credit for those who qualify but claiming it improperly could result in taxpayers having to repay the credit along with potential penalties and interest.

Qualifying for ERC
The ERC is a refundable tax credit for businesses who continued paying employees while shut down due to the pandemic or who had significant declines in gross receipts.
Eligible taxpayers can claim the ERC on an original or amended employment tax return during a qualifying period.
To be eligible for the ERC, employers must have:

• sustained a full or partial suspension of operations due to orders from an appropriate governmental authority due to COVID-19 during 2020 or the first three quarters of 2021,
• experienced a significant decline in gross receipts during 2020 or a decline in gross receipts during the first three quarters of 2021, or
• qualified as a recovery startup business for the third or fourth quarters of 2021.

Eligible employers can’t claim the ERC on wages that they reported as payroll costs in obtaining Paycheck Protection Program loan forgiveness or that they used to claim certain other tax credits.

Reporting ERC fraud
Employers can report illegal tax-related ERC claims and activities by submitting a completed Form 14242, Report Suspected Abusive Tax Promotions or Preparers and any supporting materials to the IRS Lead Development Center in the Office of Promoter Investigations. The fax telephone number and mailing address are on the form.
Employers should also report instances of fraud and IRS-related phishing attempts to the IRS at phishing@irs.gov and Treasury Inspector General for Tax Administration at 800-366-4484.

More information:

• Employee Retention Credit - 2020 vs 2021 Comparison Chart
• Form 941-X Instructions (April 2022 Revision)
• Form 941 Instructions (December 2021 Revision)
• Form 941 Instructions (2020 Revisions)
• Form 943, 943-X, 944, 944-X, CT-1 and CT-1-X Instructions

What is a “Typical Situation” people are in when they realize they need your help?
People and businesses facing high tax liabilities from personal earnings, operating business profits including real estate, other investment transactions including crypto currencies and the sale of a business or other hard assets.

What is something someone might say that would lead me to think of you?
•         My taxes are too high.
•         I want to sell, but the taxes will eat up a big share of my profit.
•         I wish there was a way to reduce my crypto tax obligations.

What (Specifically) do you do? 
B10 helps HNW individuals and businesses reduce their biggest expense: TAXES, by offering unique compliant tax strategies that include tax credits, cost segregation, property tax litigation, charitable giving, crypto Moontax service, and capital gains deferral, among others.  

How do you do it?
Each strategy is assigned a dedicated expert team of CPAs and tax professionals that do all of the tedious analytical work and provide a final tax benefit report for the taxpayer and/or financial advisor.

Matching Ideas with Resources:

​Don your mask for a night of intrigue and imagination!
 
The Rotary Club of Schaumburg-Hoffman Estates is proud to present the 44rd Annual Rotary Classic, Live and in person on May 6, 2023 at the Hyatt Schaumburg. Event is Black Tie Optional!
 Honorary Co-Chair- Rebecca Darr, President/ CEO WINGS
Under Darr’s leadership, WINGS has dramatically increased its ability to provide pathways to independence for people whose lives have been devastated by domestic violence. Her vision, leadership, and collaborative spirit have truly made a difference in the lives of so many people!

The Rotary Club of Schaumburg-Hoffman Estates is committed to selecting projects and activities that will impact senior wellbeing, literacy, and area poverty at all ages. We endeavor to be responsive to the changing needs of our community and to work alongside village officials, community leaders and organizations that share this commitment.

Your purchase helps to:

• break the cycle of domestic violence (WINGS)
• empower and heal abused children (Children’s Advocacy Center)
• foster a lifetime of learning for children in high-risk environments (Children’s Home & Aid Society)
• feed the hungry at locations like School Districts 54 & 211, Schaumburg Township, and Partners for Our Communities
• provide recreation for children and adults with disabilities (Northwest Special Recreation Association)
• award annual scholarships (Harper College)
• enable older adults to stay in their homes longer (Kenneth Young Center)
• provide nutritious meals/fellowship to seniors (Schaumburg Senior Program)
• partner with Chandler's to provide holiday meals for 215 Veterans and their families (Trickster Veteran Holiday Dinner)
• provided personal protection equipment to our community partners
• help children to build trust by shopping with police officers (Shop with a Cop)

​None of this would be possible without the support of our generous sponsors. Become a SPONSOR today! Contact George Panopoulos at thepanopoulosgroupinc@gmail.com to secure your spot!

Thanks to a slowing economy, SBA loans have been growing in popularity. So much so The Daily Herald had a Featured article about them in the March 19th, 2023 Sunday Business Section.

​www.dailyherald.com/business/20230319/thanks-to-a-slowing-economy-sba-loans-have-been-growing-in-popularity

No matter what, you need to talk with someone, an expert that helps business owners daily! We advise you to talk with one of the contact at the bottom of this Matching Ideas with Resources Blog.

Typical Situation: Our client is looking to expand their business or perhaps make a business acquisition.  They might be looking to purchase equipment, inventory, or real estate.  Maybe they also need working capital to expand.  We are primarily looking to lend to businesses in underserved areas to create quality jobs

When you hear a business owner say: 
• “I would like to expand but I my bank won’t lend the full amount I need”
• “I just got declined for a loan from my bank to buy R/E, equipment, inventory, working capital”
• “I want to buy out my partner (or purchase a business) but can’t get financing”
• “My bank approved the equipment loan but they only gave me a 24 month term, I’m afraid of a payment that large.”

SBA (Small Business Administration) Bankers serve as a trusted banking solution. They Make $1MM-$5MM loans to small businesses.

How they Work: They use Government loan programs, to businesses that meet SBA guidelines. They are  able to do this by treating the building acquisition as simply an extension of their existing business, rather than a new acquisition.  

Matching Ideas with Resources: