000 Things to be Happy About, 14, Adam August, adaptation, attidtude, attitude, cash, Christine Williamson, economic d, economy, fear, growth, Holland & Knight, Julia Loughran, Leigh Basha, Lesley Boucher, opportunities, Pensare Group, Rahm Emanuel, strategic alliances, survival, taxes, ThoughtLink, watkins meegan
This blog serves as a live report of the comments being made at the Successs in the City Success Strategies in a down economy seminar and panel discussion. You will see speaker bios at the end of the report.
Christine Williamson, partner and accountant at Watkins Meegan began the discussion by saying that her staff is optimistic.
Christine Williamson was asked how to reduce tax liability at this time. Christine offered that cash is king and you should know what your cash balance is at all times and keep that information up to date. Keep you cash forecast current. Assess what customers you should be touching and talking to. Be ware of the potential for fraud in these tough time – “trust but verify” Ronald Regan. Keep an eye on your corporate bottom-line. You should be opening up your own checking account statements and review the image of your checks and those signatures.
Summary – cash is king and trust but verify.
Leigh Basha – financial strategies in a down economy – historically low interest rates and loan rates. It is important to the business owner because your business should be one of your greatest assets. Protect your assets and make a succession plan because Uncle Sam can take a 45% share of your business in the event of an owner’s death. Critical to put in place a succession plan. Ensure that the value of a business lasts. Today is the best time historically to do this. You can shift stock value to following generations – short term rate is less than 1% so you can shift wealth at a lower cost. The stars have aligned for tremendous estate planning as we have never seen before. “I’m not afraid of dying, I just don’t want to be there when it happens.” Woody Allen
Christine Williamson – “The only thing I can control is my play, we have to think about our sponsors and supporters.” Tiger Woods. Reality has checked in. Focus on the customer. Be confident and adapt to your circumstances.
Lesley Boucher – “Take the time to relax which is where inspiration will be discovered.”Christine Williamson – “Give your clients attention, calling them, visiting with them.”
Adam August – “Plan a vacation.”
Audience member suggested Recovery.gov – weekly reports on where the stimulus money is going.
There has never been a better time to be generous! It will help you stand-out. Lead with value.
“Live with a theory of abundance” – Julia Loughran
Adam August – A partner at Holland & Knight, Adam practices in the areas of mergers and acquisitions, securities offerings, commercial transactions, general corporate law and business bankruptcy. He counsels public and private company clients in a variety of industries including information technology, government contracting, software and telecommunications. He has been actively involved in merger, acquisition and disposition transactions with a combined value of over $1 billion, and financing/investment transactions and securities offerings worth over $600 million.
Leigh Basha – As a partner at Holland & Knight, Leigh devotes her practice to her clients’ needs in the areas of domestic and international taxation, estate planning and administration, business law, and pre-marital agreements. Ms. Basha heads the firms International Estate Planning Practice.
Lesley Boucher – Lesley is the Managing Director and co-founder of the Pensare Group, a management consulting firm that works with motivated leaders to improve performance, enhance the ability to attract and retain customers and increase profitability.
Christine Williamson – Christine leads the Government Contracting & Technology Group of the regional DC based CPA firm Watkins, Meegan, Drury & Company. She is a Member (Partner) and has been with the firm since 1991. Christine is well known for her hands-on experience of providing clients of every size, the necessary, timely and pertinent accounting and tax information. In this challenging economy Christine is working with clients to help them adapt to the changes we are all facing. In the government contracting industry, Christine is well-known as one of the leading professionals. Christine participates in firm management, is editor of the firms Technology Outlook newsletter, and has taught accounting courses for educational resources.
Moderator – Julia Loughran, ThoughtLink – Julia has extensive experience in helping government and commercial organizations use technology to increase productivity for virtual teams. Julia co-founded the company with Marcy Stahl in 1997. She is now the owner and President of ThoughtLink. Julia is responsible for the strategic leadership and continued rapid growth of the company. She focuses on leveraging the company’s successful track record to direct ThoughtLink’s further expansion into the government, international and commercial markets. Read More or read full resume.