With the recent S&P downgrade, uncertainty with the economic stability and job market, and low consumer demand; it is very tempting for a young entrepreneur to fear what may happen next or if his or her business will survive.  This period in our history, and economic history, will test which companies have their acts together and which ones do not. It will also test which companies have a solid business model, are more efficient, and have a solid financial foundation. Having a solid financial foundation isn’t just about having a strong cash.

See the rest of the interview with Eric Amado. Go to the link below

http://gcstyle.weebly.com/strategies-for-aaa-worthy-business-and-personal-finances.html

the advantages and disadvantages of Refund Anticipation Loans.

the  upcoming tax season.

BAW EXPO “Be Inspired ~ Be Challenged ~ Be Changed ~ Be A Wolf”

http://www.beawolf.com/Expo.aspx?v=speakers

WFAA has asked viewers to email their financial or economic questions to Eric which he will answer live on air. We also send our camera crew on the streets of DFW to ask Eric questions.  Tune into WFAA Channel 8 this Thursday to see what Eric has to say about the viewers questions. See what surprise Eric does on air “live” http://www.wfaa.com/video/wfaageneral-index.html?nvid=412048.  If you can’t open the link go to www.wfaa.com and type eric amado in the search engine to see his recent shows

See what surprise Eric does on air “live” http://www.wfaa.com/video/wfaageneral-index.html?nvid=412048

See video link of today’s show

http://www.wfaa.com/video/wfaageneral-index.html?nvid=411494

See actual video link on WFAA- Channel 8 web site: http://www.wfaa.com/video/featured-index.html?nvid=407159

Date: 8/29/09
Time: 8:40

CEO and Financial Consultant Eric Amado will provide you up to date news and information on President Obama Health Care Program.   If you have any questions or suggestions you like discussed during the show send Eric a quick email and he may add your information to the show.  Stay tuned! Eric is a frequent guest on ABC Channel 8 “Daybreak” with host Debbie Denmon.

In today’s hostile financial environment, it is imperative that you have the right tools to navigate these extraordinary times. If you believe that the only way to avoid losing your money is to keep it under your mattress, please think again! Eric Amado and other national  speakers will discuss the tools needed today to protect your investments in these uncertain times.

Date: 7/25/09
Time: 7:20am (New Time!)

CEO and Financial Consultant Eric Amado will provide you up to date news and information on the proposed President Obama Health Care Program. How will this program affect your taxes and lifestyle if passed?  Stay tuned! Eric is a frequent guest on ABC Channel 8 “Daybreak” with host Debbie Denmon.

Financial Consultant Eric Amado will provide you details on some of the top jobs for 2009 and 2010. Stay tuned!  Eric is a frequent guest on ABC Channel 8 “Daybreak” with host Debbie Denmon.

Eric Amado, Financial Consultant provides accurate insight on how women should handle there finances in this very tough economy. Contact Eric Amado at 214-354-1056 if you have any questions regarding this subject.

Eric Amado, Financial Consultant provides accurate insight on how women should handle there finances in this very tough economy. Contact Eric Amado at 214-354-1056 if you have any questions regarding this subject.

Financial Consultant Eric Amado will provide hopeful steps for individuals who think they may lose there job in the near future. Eric is a frequent guest on ABC Channel 8 “Daybreak” with host Debbie Denmon.

Date: 1/24/09
Time: 8:15am

Financial Consultant Eric Amado gives ABC Channel 8 viewers helpful tips and suggestions on President Obama Economic Stimulus Package. Eric is a frequent guest on ABC Channel 8 “Daybreak” with host Debbie Denmon.

Financial Consultant Eric Amado gives ABC Channel 8 viewers helpful tips and suggestions on how to prepare for the 2009 New Year. Eric is a frequent guest on ABC Channel 8 “Daybreak” with host Debbie Denmon.

Co-Host: Eric Amado

Listen to the show now!
http://www.blogtalkradio.com/thechaplainshow

Co-Host: Eric Amado

Listen to the show now!
http://www.blogtalkradio.com/thechaplainshow

Co-Host: Eric Amado

Listen to the show now!
http://www.blogtalkradio.com/thechaplainshow

Financial Consultant Eric Amado gives ABC Channel 8  views helpful tips and suggestions on how to have a happy and debt free christmas. Eric is a frequent guest on ABC Channel 8 “Daybreak” show with host Debbie Denmon.

Freedom Friday 11/07

7a - Co-Host: Eric Amado and Nylevette Milligan = Politics, Economics, - Special Guest: Atty: (Author) James Jordan “Forsaken”

Listen to the show now!
http://www.blogtalkradio.com/thechaplainshow

Date: 11/1/08
Time: 0640

Eric Amado, CEO of Amado Consulting LLC provides helpful tips on how to pay for Christmas without going broke. Helpful tips that consumers can take to position themselves during uncertain times.

Freedom Friday 10/17

7a - Co-Host: Eric Amado, Fred Jones, Nylevette Milligan = Politics, Economics, - Special Guest: Atty: (Author) James Jordan “Forsaken”

Listen to the show now!
http://www.blogtalkradio.com/thechaplainshow

Freedom Friday 10/17

7a - Co-Host: Eric Amado, Fred Jones, Nylevette Milligan = Politics, Economics, Election 8a – Special Guest: GAAP = finding money for nonprofit organizations. www.kgcmradio.com

Listen to show!
http://www.blogtalkradio.com/thechaplainshow

Financial Consultant Eric Amado inform viewers that US banks are properly insured by the FDIC.  Eric also talks about the 2008 Economic Stablization Act and discuss if inflation is a long-term issues since billion of dollars are being pumped into the economy worldwide. Eric also inform viewers what steps need to be implemented for 2009.

http://www.blogtalkradio.com/TheChaplainShow/2008/10/10/Freedom-Friday-1010

Eric Amado, Financial Consultant provides helpful steps americans should take now to protect themselves in the result of an layoff. Contact Eric Amado at 214-354-1056 if you have any questions regarding this subject.

Date: 10/4/08
Time: 8:50

Eric Amado, CEO of Amado Consulting LLC provides detail updates on the government bailout. Helpful steps that consumers can take to position themselves during uncertain times.

Eric Amado was recently featured on FOXTV “Good Day” to discuss recently increasing unemployment rate in the US and the DFW market. Eric was also recently featured on WFAA Channel 8 to discuss the high increases in Gas prices during 2008.

http://www.myfoxdfw.com/myfox/pages/Home/Detail;jsessionid=1EDD2540665B765BB93EAE6BE539BFCF?contentId=7179029&version=1&locale=EN-US&layoutCode=TSTY&pageId=1.1.1&sflg=1

If you receive tips of $20 or more in any one month from any one job, you must report the total tips to that employer by the tenth day of the next month.  This rule established by the IRS includes all cash tips, credit card tips, and any other tips you get from other employers, minus what you “tip out” or share with colleagues. Remember all cash tips you receive are considered income and subject to income tax.
It is of importance to remember you report tips to your employer timely so they can properly withhold any federal income tax, social security, Medicare taxes or railroad retirement tax on your tips. Tips reported to your employer are included as wages on your W-2 form.
If you’re receiving tips from your employer, keeping good records on file regarding tips received is very important. Tracking and reporting tip income is quite simple and will save you and your accountant time when preparing your next income tax return. Try the following to track your cash tip:
1.      Keep a daily tip log to track your transactions
2.      Report tips to your employer timely
3.      Report all tips on your income tax return
In addition to complying with U.S. tax laws, there are many benefits for reporting all your tip income properly including:
·        Reporting income from tips can be rewarding over time. Cash tip income can actually result in higher benefits paid by the Social Security Administration upon retirement. These benefits are calculated based on lifetime reported earnings.
·        If a cash tip employee were to become disabled from their job and make a claim for unemployment compensation, the actual benefits would be higher with cash tips being properly reported.
·    Including your tip income could improve your status if applying for a home or car loan. 
·        If cash tipped employees are eligible for participation in employer-sponsored retirement plans such as 401(k) or pension plans, a higher reported income allows for a larger contribution to the plan. This would be for both employer and employee amounts.

For more information on tips, or any business topics, please contact Amado Consulting LLC ateric@amadoconsultingllc.com or 214-354-1056.

Overpayment or underpayment of taxes - If you received a big tax refund last year you may think that is good news, but it’s not. The reality is that you overpaid and the government gracefully kept your money as a tax-free loan while you could have easily invested your money in a mutual fund or paid down debt. Consult you tax advisor and evaluate your current status to determine if you need to adjust your withholding now to avoid penalties later.

Estimated tax payments – If you have significant amounts of investment income or other types of income that aren’t subject to withholding you may incur a penalty if you don’t make quarterly payments of estimated tax. Consult your tax advisor to make sure you’re properly covered regarding your estimated tax payment.  Adjusting these payments now will avoid underpayment penalties at year-end.

Getting Married or Divorce? – These are serious events that can have dramatic tax implications. Those who have recently changed their marital status or who are planning such a change will have important tax and legal decisions to make. These decisions may affect property ownership, providing for children’s welfare, post-mortem planning, and day-to-day finances. Attempting to file your taxes with out a competent tax advisor could prove costly

Saving for retirement – Many changes have taken place over the last couple of years regarding retirement savings plans. The retirement plan you started many years ago may not be advantageous to you today. So much has changed with 401(k) s, IRA’s, pension plans and other retirement accounts, that it is important to determine if your plan is working as intended.

Many employees do not take advantage of the company sponsored 401(k) plans and are missing a powerful opportunity to defer taxes and invest for the future. Most companies offer matching opportunities for each dollar invested. Start saving today no matter how small the amount.

Beneficiary designations and Power of Attorney – Ensure these plans are still working in your favor. Now is the time to get your plans in order to ensure any recent tax changes have not affected your long term strategy.

For more information on your tax situation, or any business topics, please contact Amado Consulting LLC at eric@amadoconsultingllc.com or 214-354-1056.