Dennis Bays and the Story of Americore

Dennis Bays, CEO of Americore is excited about the number of opportunities available to improve the cash flow and profitability for the business community. Whether you are looking to reduce tax liabilities, find working capital for small or midsize businesses, planning for retirement or other wealth building vehicles, Americore has access to a unique solution for your needs.

Americore regularly works with a business’ existing team, their CPAs and Financial Planners. We also work with lenders like regional banks, investment banks, inventory and equipment lenders to bring improved liquidity to our clients’ businesses. We are a well-capitalized organization. Our nimble organizational structure offers clients and referral sources direct access to principals and decision makers.

The Entrepreneurial Spirit

Dennis comes from a family rich with entrepreneurial spirit. His father had a law firm and real estate brokerage firm among other businesses. Since Dennis Bays was a teen he has owned several of his own businesses, even while earning a W-2 salary in corporate America. Along the way, he discovered a love for the entrepreneurs of our country and has funded well over $100,000,000 for other businesses.

As for why he loves entrepreneurs, Dennis responded, “they’re the secret sauce… They create opportunities and industries; they give most of the rest of us opportunities to work. ”    

The Tax Code is NOT just for the Rich.

But many entrepreneurs seem to be facing a disparity. Taxes are considered an unavoidable liability. Still, we’ve all seen news reports of fortune 500 companies who don’t pay them. We’ve also seen billions of dollars handed out of government programs to those same big companies. The thing is, “the tax code is written for all businesses.”  And tax savings programs are NOT just for the “big guys”.

Sadly, while small businesspeople are focused on growing their small to mid-sized businesses, they miss opportunities. The fortune 500 companies have teams of professionals spending their days in finding and leveraging those same wealth building programs.

Tax Incentives for your Business

Tax incentives have become a way for the government to stimulate certain business  activities. Small businesses are often performing the same activities the rich are getting paid to carry out. Regrettably, the government is not great at promoting those programs to more businesses.

Americore makes it their business even the playing field for activities the government wants to encourage, even in small businesses. Since the government wants to foster these behaviors, they aren’t looking to punish businesses for using the related  program.

Still businesses hesitate to take advantage of available benefits. Whether it stems from unfamiliarity with the programs or incorrectly completed paperwork many entrepreneurs are missing out. By working with small to midsize businesses to correctly complete program documentation, Americore facilitates use existing program in the tax code.

As Dennis Likes to say, “CPAs help you with the [tax] loopholes; we help you with the programs.”  These are not just tax reductions or write offs. These are programs that release money set aside for certain government encouraged business activities.

Examples of Some of Dennis Bays’ Favorite Programs

You may wonder what type of activities the government rewards. You’ll be familiar with some, but we’ll go over a few anyway.

Everyone knows if you buy a house there is a mortgage interest credit. The government offers this tax break because a neighborhood with more homeowners is a more stable neighborhood than one with transient renters.

If you buy an electric car or solar panels for your home, the government will offer tax credits because they want the country to reduce carbon emissions.

For businesses who are looking for more better products or more efficient operation methods, there is an R&D credit. If you hire certain workers or have a business in a certain zip code, the government might help with your business costs.

There is also a program for employee healthcare insurance. If you offer health insurance to your employees, you can receive up to $2500 a year per employee.

These are just a few of many more programs out there, designed to encourage certain behavior.

Americore can help your business benefit from many of the same programs the “big guys” use. Call our office at 747-224-8110 or contact us here. Tell your Americore Group representative  what you’re looking for, and we’ll tell you how we think we can help you make that happen.