growth and opportunitiesdelhi - 25m 3. shanghai - 23m 4. mexico city - 21m 5. mumbai - 21m 6. sao...
TRANSCRIPT
GROWTH AND OPPORTUNITIES: THE LATEST POLITICAL, TECHNOLOGICAL, ECONOMIC AND
MANAGEMENT TRENDS THAT WILL DOMINATE YOUR BUSINESS THROUGH THE NEXT 2 YEARS
Presented by: Gene Marks
TRUE/FALSE: NEW YORK IS THE WORLD’S LARGEST CITY
FALSE 1. Tokyo - 38m
2. Delhi - 25m
3. Shanghai - 23m
4. Mexico City - 21m
5. Mumbai - 21m
6. Sao Paulo - 21m
7. Osaka - 20m
8. Beijing - 20m
9. New York - 19m
TRUE/FALSE: RUSSIAN IS ONE OF THE TOP 5 MOST SPOKEN LANGUAGES IN THE WORLD.
5. Russian – 277 million
True 1. Mandarin – 1 Billion
2. English - 508 million
3. Hindustani – 497 million
4. Spanish – 392 million
TRUE/FALSE: BEGINNING JANUARY 1, 2017 IT IS NOW ILLEGAL TO POSE FOR A SELFIE WITH
A TIGER IN NEW YORK STATE
FALSE.
IT WAS 2015.
AN OBAMACARE REPEAL?
Graham-Cassidy “We are thinking that we can get this done by Sept. 30.” Sen. Bill Cassidy (R) Louisiana. Key elements would go
away: -Individual mandate -Corporate mandate -Controversial coverages -ACA Marketplaces
A September 30th Deadline
GRAHAM-CASSIDY…?
Expanded State Powers over essential health benefits and payments.
Block grants to states based on their share of people who earn 50 percent to 138 percent of the federal poverty level – expires 2027.
Opponents: -Deep cuts to Medicaid -significant increases to uninsured -Significant cuts in Federal subsidies -Weakening of pre-existing conditions -De-stabilize individual markets
YOUR COSTS CONTINUE TO RISE
Healthcare Costs 2009 Total company: $4,824 Employee pays: $779 (16.1%)
Healthcare premium requests submitted in August:
Healthcare Costs 2016 Total company: $6,435 Worker pays: $1,129 (17.5%).
Source: Kaiser Foundation
New York: 17% Washington: 22% Tennessee: 42%
Delaware: 34% Connecticut: 52% Maryland: 50% North Dakota: 20%
Pennsylvania: 9%
Average Employee Out-of-Pocket for 2018: $2,500
HEALTHCARE: YOUR 2017 ACTIONS
-Stick with high deductible plans combined with HSAs (better than retirement accounts?)
-Consider level funded plans
-December 2016 21st Century Cures Act: HRAs are OK
-Will this association offer a plan?
-Invest in education for your employees
TRUE/FALSE: ALL OF CONGRESS IS IN FULL AGREEMENT ON REPEALING OBAMACARE
FALSE
TRUE/FALSE: A LEVEL FUNDED PLAN COMBINES GROUP AND SELF INSURANCE
OPTIONS
TRUE
TRUE/FALSE: TREATMENT FOR MALE PATTERN BALDNESS IS AN ESSENTIAL HEALTH
BENEFIT
FALSE
TRUE/FALSE: THE PIRATES’ DOC ELLIS PITCHED A NO-HITTER HIGH ON LSD
TRUE
WHAT HAVE WE LEARNED
• Healthcare costs will be very uncertain after 2017…HSAs, Level Funded plans are getting hotter.
A FEW FACTS ABOUT MILLENNIALS Represent about 50% of the U.S. workforce
A majority favor independence/flexibility over compensation
72% want flexible work schedules
68% want work from home options
Are the most tech savvy generation ever.
Have the largest percentage of immigrants since the early 20th century.
2/3 prefer organizations that are socially conscious.
Healthcare is their top requested benefit.
WAGES WILL INCREASE
• Minimum wage increase…2018
• Overtime…2018
• Paid Time Off
• 3% Increase in 2017 - 2018*
*Korn Ferry, Towers Perrin
PAID TIME OFF TRENDING UP
PAID TIME OFF TRENDING UP
Where Are We? -No national legislation -Some local requirements -Big companies are offering
Netflix: ONE YEAR paid time off for new parents
THE PTO TREND
Bank of America: 16 weeks paid time off for new parents
Hilton: 10 weeks paid time off for hourly employees
Carmax: Time off mutually agreed between employee and supervisor based on “health and well being”
Salesforce.com: 6 days of paid volunteer time off a year, as well as $1,000 a year to donate to a charity of their choice
PAID TIME OFF TRENDING UP
Where Are We? -No national legislation -Some local requirements -Big companies are offering
Where Are We Going? -Trump: 6 weeks paid time off for new parents funded through unemployment -Ryan and McConnell: not so fast…
RISING EMPLOYEE COSTS: YOUR ACTIONS
-Budget for 3% raises. -Don’t fret about minimum wage and overtime…until 2018. -Revisit your PTO policies and make sure you’re competitive. (consider traditional, flexible, unlimited)
TRUE/FALSE: WAGES ARE EXPECTED TO RISE 1% IN 2017
FALSE
TRUE/FALSE: TRUMP SUPPORTS NATIONAL PAID TIME OFF LEGISLATION
TRUE
TRUE/FALSE: YOU CAN MAKE A GREAT PONY TAIL FOR YOUR DAUGHTER BY USING A VACUUM
CLEANER
TRUE
WHAT HAVE WE LEARNED
• Healthcare costs will be very uncertain after 2017…HSAs, Level Funded plans are getting hotter.
• Wages will be increasing…pay attention to PTO.
THE “BIG 6” HAVE A SEPTEMBER DEADLINE
Steve Mnuchin Treasury Secretary
Paul Ryan House Leader
Mitch McConnell Senate Leader
Kevin Brady Chairman - House Ways & Means
Orin Hatch Senator
Gary Cohn Dir - Nat. Economic Council
2017 TAX RELIEF?
Where Are We? -39.6% top individual rate -35% top corporate rate -20% top capital gains rate -40% estate tax ($5.5m excl)
Where Are We Going? -35% top individual rate -15% to 20% top corporate rate (C and S Corps) -0-20% top capital gains rate -Eliminate estate taxes -Eliminate deduction of state taxes -Keep mortgage interest, charitable, childcare deductions -A $12,000 standard deduction! -Status of Obamacare repeal? - Eliminate 3.8% “Obamacare Tax”?
“Official plan after Labor Day” The White House – June 5, 2017
$3.8 Trillion
YOUR 2017 TAXES - ACTIONS
YOUR 2017 TAXES - ACTIONS
-Invest in cap equipment -Re-visit the R&D Tax Credit -Write off AR and Inventory
-Work Opportunity Tax Credit - Extended through 2019, a $9,600 credit/employee for hiring a vet, welfare recipient or “long term unemployed” for first year’s wages. -Differential Wage Credit – up to $4,000 credit per employee on active military duty for wages you pay – now available for all employers, not just small biz.
-Employ your kids -529 plans -Max retirement plans
TRUE/FALSE: THE CURRENT CORPORATE TAX RATE IS 15%
FALSE
TRUE/FALSE: TAX REFORM WILL ELIMINATE THE MORTGAGE DEDUCTION
FALSE
TRUE/FALSE: THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS PROVIDES ACCOMODATION FOR HOMELESS MEMBERS
FALSE
(They live in tax shelters)
TRUE/FALSE: THIS PLUMBER’S TRUCK IS THE BEST ADVERTISING EVER!
TRUE/FALSE: GENE MARKS’ MOST RECENT BOOK WENT TO #1 ON AMAZON.COM
FALSE
TRUE/FALSE: GENE MARKS’ NEWSLETTER HAS MORE THAN 1 MILLION SUBSCRIBERS
FALSE
Join my monthly newsletter on www.genemarks.com
Or send a text to 22828: makingmoney
WHAT HAVE WE LEARNED
• Healthcare costs will be very uncertain after 2017…HSAs, Level Funded plans are getting hotter.
• Wages will be increasing…pay attention to PTO.
• Tax relief is coming, but so are hard budget decisions.
3 HOT TECHS YOU MUST CONSIDER FOR YOUR BUSINESS THIS YEAR
Video (Facebook Live)
CRM (Zoho/Salesforce/Microsoft)
Ransomware (Carbonite)
TRUE/FALSE: A GOOD CRM SYSTEM WILL MAKE SURE NOTHING FALLS THROUGH THE
CRACKS.
TRUE
TRUE/FALSE: CARBONITE IS A RADIOACTIVE ELEMENT FROM SUPERMAN'S HOME PLANET.
FALSE
TRUE/FALSE: THE BEST WAY TO STOP YOUR TEENAGE DAUGHTER FROM TAKING INAPPROPRIATE SELFIES IS
TO TAKE AWAY HER IPHONE
FALSE
TRUE/FALSE: ACCORDING TO A RECENT STUDY IN THE JOURNAL OF MICROBIOLOGY, 80% OF FAST FOOD DRINK DISPENSERS CONTAIN FECAL
MATTER
FALSE*
It’s only 50%
WHAT HAVE WE LEARNED
• Healthcare costs will be very uncertain after 2017…HSAs, Level Funded plans are getting hotter.
• Wages will be increasing…pay attention to PTO.
• Tax relief is coming, but so are hard budget decisions.
• Video, CRM and online backup are key techs you should be considering this year.
TRUE/FALSE: YOU ARE MUCH SMARTER THAN YOU WERE A MERE 60 MINUTES AGO
TRUE!
