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Yearly Archives: 2009
2009 Emerging Growth Awards
Do you know a company that deserves to be rewarded for its innovation and growth? Well, here’s your opportunity to spotlight a deserving company.
Southern California Venture Network (SCVN) is proud to present the 2009 Emerging Growth Awards. This prestigious event will take place on Tuesday September 29, 2009 in Newport Beach at CODE Restaurant. Orange County is a hub for innovation and growth for many of the industries that fuel growth throughout the country. The SCVN Awards are the opportunity to have your organization placed in the spotlight by Orange County’s premier entrepreneur and corporate growth network.
What companies are Eligible?
Eligible companies would be head quartered in Orange County and have revenues from $1MM-$20MM and have reached a significant level of growth within the past 12 months. The categories listed below:
ANY BUSINESS WITH revenue $1MM+ to $20MM is eligible within Orange County California:
Software
Financial Services
Web Solutions and SaaS
Social Networking
Construction and Architecture
Engineering and Manufacturing
Green / Clean Products
Green / Clean Services
Medical Devices & Healthcare Innovations
Retail
Lifestyle Products / Services
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The Mission of the Southern California Venture Network (SCVN) is to increase the entrepreneurial velocity of both start-up and emerging growth companies by encouraging entrepreneurs to take advantage of our network of skilled professionals, high-level business contacts, and on occasion funding sources to help navigate the many road blocks that often prevent early stage and late stage entrepreneurial companies from reaching their full potential in a timely manner.
As a “venture development” organization we focus our efforts on helping those companies with revenues between $1M and $25M and that already have funding in place to reach their next milestone by tapping into our extensive collective network. We do this by hosting open networking events, invitation-only company presentations, executive educational events, and DealMaker lunches.
The Board of Directors of SCVN encourages you to enhance and grow your own network through the process of bridging to new contacts and bonding with established relationships which can be accomplished by joining us at our next networking event which are held on the last Tuesday of the month.
SCVN’s growth is your growth. Pay-it-forward by inviting your friends, professional contacts, business owners, entrepreneurs, merger & acquisition specialists, private equity professionals, venture capitalists, business brokers, and those interested in supporting entrepreneurs to visit SCVN.ORG and to join the Network. RSVP’s for events are requested.
Sincerely, The Board of Directors
Small Businesses – Don’t Miss Out on Your Expanded Refund Claim. Time Is Running Out!
This carryback provision offers small businesses that lost money in 2008 an excellent way to quickly get some much needed cash if they were profitable in previous years. This option is only available for a limited time, so small businesses should consider it carefully and act before it’s too late.
Under the American Recovery and Reinvestment Act (ARRA), enacted in February, many small businesses that had expenses exceeding their income for 2008 can choose to carry the resulting loss back for up to five years, instead of the usual two. This means that a business that had a net operating loss (NOL) in 2008 could carry that loss as far back as tax-year 2003, rather than the usual 2006. Not only could this mean a special tax refund, but the refund could be larger, because the loss is being spread over as many as five tax years, rather than just two.
This option may be particularly helpful to any eligible small business with a large loss in 2008. A small business that chooses this option can benefit by:
Offsetting the loss against income earned in up to five prior tax years,
Getting a refund of taxes paid up to five years ago,
Using up part or all of the loss now, rather than waiting to claim it on future tax returns.
Under ARRA, eligible taxpayers can choose to carry back a NOL arising in a taxable year beginning or ending in 2008 for three, four or five years instead of two. The option is available for an eligible small business (ESB) that has no more than an average of $15 million in gross receipts over a three-year period ending with the tax year of the NOL. This choice may be made for only one tax year.
Most taxpayers still have time to choose this special carryback and get a refund. A calendar-year corporation that qualifies as an ESB must file a claim by Sept. 15, 2009. For individuals, the deadline is Oct. 15, 2009. This includes a sole proprietor that qualifies as an ESB, an individual partner in a partnership that qualifies as an ESB and a shareholder in an S corporation that qualifies as an ESB. Deadlines vary for fiscal-year taxpayers, depending upon when their fiscal year ends and whether they are making the choice for the tax year that ends or begins in 2008.
Individuals can accelerate a refund by filing Form 1045, Application for Tentative Refund. Similarly, corporations with NOLs may also accelerate a refund by using Form 1139, Corporation Application for Tentative Refund. Normally, refunds are issued within 45 days. These forms, along with answers to frequently-asked questions about this special carryback, and other details can be found on the IRS Web site.
Stacie's Tax Stuff 
