Ice Tsunami – Say What?

Posted on May 16, 2013 by GeoMetrx

Ice Tsunami – Say What?

Mother Nature sure has some interesting tricks up her sleeve. Wind, rain, snow, sleet, floods, mudslides, earthquakes, volcanoes, droughts, dust storms, tornadoes, hurricanes, and much more. But have you ever heard of an ice tsunami? Okay, that’s not the real name of the weather phenomenon, it’s actually an ice shove, but ice tsunami is how many described just such an event that occurred earlier this week in Minnesota, and neighboring Canada.

Powerful wind gusts drove giant sheets of ice on Lake Mille Lacs, located about 100 miles north of Minneapolis-St.Paul, across the surface and onto shore. The sheets of ice surged toward homes along the shoreline. The scene was surreal, seemingly a Hollywood special effect, but it was all very real indeed. The ice moved surprisingly quickly, sounding both like breaking glass and an approaching train as it creeped ever forward. Several homes were damaged or destroyed. Click here to check out this news report from CNN to really appreciate this weather phenomenon.

Posted in Common Ground Blog, Geography in the News | Leave a comment

Tax Preparation – A Year-Round Opportunity

Posted on May 10, 2013 by GeoMetrx

Tax Preparation – A Year-Round Opportunity

Many tax preparation specialists, as well as other tax professionals, offer year-round services including tax debt settlement, tax resolutions, audit assistance, bookkeeping, record keeping, financial advice and consultation, tax education, payroll services and more.

Tax professionals are dedicated to the challenge of keeping up with the tax code and informing their clients of important changes that need to be addressed throughout the year, rather than simply focusing on January 1st through April 15th only. Tax code changes often affect the way individuals and businesses need to operate throughout the year in order to minimize the tax liability they will incur. And as the tax code continues to become increasingly complex, the demand for tax preparation professionals continues to grow as well.

Whether you are interested in opening a sole proprietorship, becoming part of an existing franchise or creating a new franchise, at GeoMetrx we have the tools you need to assess the opportunities, locate the ideal site location, and create, evaluate and align territories. Additionally, we have an exhaustive list of Business Establishment datasets by NAICS code including the one depicted below displaying the concentration of Accounting / Tax Preparation / Bookkeeping and Payroll Services businesses.  Each red dot represents 25 establishments within that geographical region.

For more information on how to obtain access to GeoMetrx datasets, contact us today at 1.888.848.4436.

Posted in Facts & Figures, Franchising, GeoMetrx Data In Action | Leave a comment

Tax Preparation Industry

Posted on May 6, 2013 by GeoMetrx

Many tax professionals can be found relaxing on beaches around the globe, basking in the sunshine and the relief of making it through yet another frenzied tax season. The vast majority of Americans rely heavily on these professionals, especially as the annual impending approach of tax day on April 15th creates a ‘sinking’ feeling for many of us. The Titanic also sank on April 15th, 1912… coincidence??? Maybe, maybe not! The 16th amendment permanently establishing the federal income tax was ratified the following year in 1913, though it wouldn’t be for another 41 years, in 1954, that  April 15th would officially become tax day; it had previously been March 15th.

Thankfully, this industry of tax professionals, more than 1.2 million strong, is there to take the helm and steer us safely through each year. Over 140 million individual and family tax returns are filed annually. Of those, three out of five, or 60%, pay someone else to fill out the forms, and another 29% turn to software to help navigate the complexity of the tax code. In the last decade alone, the U.S. tax code has more than tripled in size, comprising over 73,000 pages, and containing more than 3.8 million words. In comparison, War and Peace consists of 1,440 pages, and just under 600,000 words. The average adult reads 300 wpm – that’s more than 210 hours of reading to get through all of the rules and regulations. 

This is why so many Americans turn to tax professionals. Not keeping up with the latest tax code changes can be costly, whether as a result of not taking advantage of all eligible tax deductions and credits, or by filing an inaccurate return that may result in an audit by the IRS.  In 2013, some of the biggest changes included payroll tax hikes, Medicare and Social Security wage ceiling shifts, and Affordable Care Act surcharges on unearned income, just to name a few.

The tax preparation industry was estimated to have generated $7.7 billion in revenue last year. According to Franchise Help, the majority of tax preparations are performed by individuals (37%) or small mom and pop firms operated by less than ten employees (53%). The three largest tax preparation franchises are:

  • H&R Block
  • Liberty Tax
  • Jackson Hewitt

While Americans and politicians continue to clamor for a flat tax, or at least a simplified tax code, industry experts don’t expect this to happen any time soon, if ever. The reasons for this are myriad, and accordingly, the tax preparation industry is expected to continue growing at an estimated rate of 4%, compounded annually, through 2015, and most likely beyond.

Under our current system, there will always be a demand for competent tax preparers, despite the fear that an increase in tax preparation software will displace the experts. According to Franchise Help, “…the data is contrary to this perspective. Studies confirm that no magic tax calculator has enabled people to easily find all their deductions and hiring someone with a tax preparer certification translates into larger tax refunds. As Americans reach higher tax brackets they become more willing to outsource this stressful task.”

It should be noted, however, that under new IRS rules, tax professionals are now required to have specific credentials. For those who have been in the profession for the past several decades, many are opting to leave the industry rather than go through retraining and certification. This is creating an opportunity for new and energetic entrepreneurs to enter the market.

There are many opportunities for entrepreneurs and franchisors within the tax preparation industry. As with any business, location is important, and our GeoMetrx web-based mapping software is loaded with rich demographic data for retail site selection, consumer profiling and market analysis. For more information or a demo call us at 1.888.848.4436.

Posted in Common Ground Blog, Facts & Figures, Franchising | Leave a comment

Wireless Charging – A Magnetic Future

Posted on May 2, 2013 by GeoMetrx

Wireless Charging – A Magnetic Future

If you are sitting at your workspace take a look around you. How many wires and cords do you see? As our lives become more and more dependent on electronic devices (iPods, cell phones, laptops, digital cameras, wireless routers, modems, dvrs and more), we need an equal number of wires and plugs to either power or recharge them. The result can be a tangled, twisted and overwhelming mess. And when we are on the go, finding power sources can also be a challenge. Have you ever had to sit on the floor at the airport to charge your laptop?

Well, meet MIT physics professor and WiTricity founder Marin Soljačić. In 2007, he found WiTricity with the vision of making wireless electricity a reality. The basis for the technology is the concept of resonant coupling where the magnetic fields of two properly designed devices with closely matched resonant frequencies can couple into a single continuous magnetic field. According to the companies website:

Resonant coupling is a well-understood concept illustrated by many everyday examples. A child pumps her legs at the resonant frequency of a swing to fly through the air, or an opera singer shatters a wine glass by singing a single note at a frequency that matches the acoustic resonance of the glass.

The real world result of all this science is that many of our everyday electronic devices can exchange energy with a nearby wall unit via magnetism. The company envisions a future where these magnetic power sources are embedded in the walls and carpets of homes, making for a truly wire-free environment. The company believes that with a big enough power supply source and a network of wireless repeaters that office buildings, retails stores and many other buildings could also become wire-free.

But is this technology safe? The human body responds to electric fields, but it does not absorb energy generated by low-level magnetic fields. WiTricity CEO Eric Giler says, “If you are okay living on Earth, then you should be okay with what we are doing at WiTricity. Our technology generates less radiation than the Earth’s magnetic field; it is one hundred times safer than a cell phone and generates a million times less radiation than an MRI machine.”

Beyond the simplicity and convenience this technology has to offer, the electric auto industry is expected to make huge strides. One of the largest entry barriers for consumers is the need to constantly plug in their vehicles. Imagine, instead, a world in which dynamic, wireless charging stations are installed at stoplights, parking lots, etc. Drivers can ‘charge on the go.’ The possibilities of this technology are limited only by our imaginations.

Posted in Common Ground Blog, Facts & Figures, Geography in the News | Leave a comment

GeoMetrx Common Ground News: Volume 2: Issue 4

Posted on April 25, 2013 by GeoMetrx

See the newsletter with all graphics at COMMON GROUND VOLUME 2 : ISSUE 4 NEWSLETTER ARCHIVE LINK.  Text only version provided below, links only work in the full archived version via the link above.

Volume 2 : Issue 4

April 2013

Welcome to Common Ground News

In this Issue:

* Feature Article – Tax Preparation Industry

* Tips & Techniques – helping you get the most out of our online mapping
application at [1]GeoMetrx “How to Create a Territory Heirarchy from Scratch”

* Thematic Map – Tax Preparation: A Year Round Opportunity

* Trivia Challenge​​ – Third Time is the Charm…

This and all our newsletters are available through our Knowledge Center resource
listed on our website. We encourage you to share our Common Ground News with
your friends and colleagues and we welcome your feedback. Visit our website and
make a comment on the [2]contact us page or send us an email
at [3]info@geo-e.com.

—-Kent Hargesheimer,

Managing Partner

Geo-Legend

Phone: 1.888.848.4436

Web: [4]www.geo-e.com

[5]www.geometrx.com

[6]www.geoprinter.com

[7]www.gis4less.com

Email:

[8]

[9]info@geo-e.com

Follow Us:

[10][11]

[12][gif] [13]

Blog: [14]Common Ground Blog

Newsletter Archives
• [15]March 2013
• [16]February 2013
• [17]January 2013
• [18]December 2012
• [19]Previous Issues

Tax Preparation Industry

[facebooklike][twittertweet]

Many tax professionals can be found this week relaxing on beaches around the
globe, basking in the sunshine and the relief of making it through yet another
frenzied tax season. The vast majority of Americans rely heavily on these
professionals, especially as the annual impending approach of tax day on April
15th creates a ‘sinking’ feeling for many of us. The Titanic also sank on April
15th, 1912… coincidence??? Maybe, maybe not! The 16th amendment permanently
establishing the federal income tax was ratified the following year in 1913,
though it wouldn’t be for another 41 years, in 1954, that April 15th would
officially become tax day; it had previously been March 15th.

Thankfully, this industry of tax professionals, more than 1.2 million strong, is
there to take the helm and steer us safely through each year. Over 140 million
individual and family tax returns are filed annually. Of those, three out of
five, or 60%, pay someone else to fill out the forms, and another 29% turn to
software to help navigate the complexity of the tax code. In the last decade
alone, the U.S. tax code has more than tripled in size, comprising over 73,000
pages, and containing more than 3.8 million words. In comparison, War and Peace
consists of 1,440 pages, and just under 600,000 words. The average adult reads
300 wpm – that’s more than 210 hours of reading to get through all of the rules
and regulations.

This is why so many Americans turn to tax professionals. Not keeping up with the
latest tax code changes can be costly, whether as a result of not taking
advantage of all eligible tax deductions and credits, or by filing an inaccurate
return that may result in an audit by the IRS. In 2013, some of the biggest
changes included payroll tax hikes, Medicare and Social Security wage ceiling
shifts, and Affordable Care Act surcharges on unearned income, just to name a
few.

The tax preparation industry was estimated to have generated $7.7 billion in
revenue last year. According to [20]Franchise Help, the majority of tax
preparations are performed by individuals (37%) or small mom and pop firms
operated by less than ten employees (53%). The three largest tax preparation
franchises are:

* H&R Block
* Liberty Tax
* Jackson Hewitt

While Americans and politicians continue to clamor for a flat tax, or at least a
simplified tax code, industry experts don’t expect this to happen any time soon,
if ever. The reasons for this are myriad, and accordingly, the tax preparation
industry is expected to continue growing at an estimated rate of 4%, compounded
annually, through 2015, and most likely beyond.

Under our current system, there will always be a demand for competent tax
preparers, despite the fear that an increase in tax preparation software will
displace the experts. According to [21]Franchise Help, “…the data is contrary to
this perspective. Studies confirm that no magic tax calculator has enabled
people to easily find all their deductions and hiring someone with a tax
preparer certification translates into larger tax refunds. As Americans reach
higher tax brackets they become more willing to outsource this stressful
task.”

It should be noted, however, that under new IRS rules, tax professionals are now
required to have specific credentials. For those who have been in the profession
for the past several decades, many are opting to leave the industry rather than
go through retraining and certification. This is creating an opportunity for new
and energetic entrepreneurs to enter the market.

There are many opportunities for entrepreneurs and franchisors within the tax
preparation industry. As with any business, location is important, and our
[22]GeoMetrx web-based mapping software is loaded with rich demographic data for
retail site selection, consumer profiling and market analysis. For more
information or a demo call us at 1.888.848.4436.

Tips & Techniques -

​How to Create a Territory Hierarchy from Scratch

One of the most common tasks performed utilizing our [23]GeoMetrx application is
creating a territory heirarchy. A territory heirarchy can have multiple levels.
For example, ZIP Codes can be assigned to individual representatives, which are
part of a larger District, and several districts can comprise a Region, which
then reports to a larger Division.

This month’s Tip & Technique guide provides a step-by-step walk-through on how
to create a territory heirarchy from scratch, as well as some optional steps to
further customize your territory heirarchy(ies).

[24]“How to Create a Territory Hierarchy from Scratch”

[25]

Tax Preparation: A Year-Round Opportunity

[facebooklike][twittertweet]

Many tax prepareration specialists, as well as other tax professionals, offer
year-round services including tax debt settlement, tax resolutions, audit
assistance, bookkeeping, record keeping, financial advice and consultation, tax
education, payroll services and more.

Tax professionals are dedicated to the challenge of keeping up with the tax code
and informing their clients of important changes that need to be addressed
throughout the year, rather than simply focusing on January 1st through April
15th only. Tax code changes often affect the way individuals and businesses need
to operate throughout the year in order to minimize the tax liability they will
incur. And as the tax code continues to become increasingly complex, the demand
for tax preparation professionals continues to grow as well.

Whether you are interested in opening a sole proprietorship, becoming part of an
existing franchise or creating a new franchise, at [26]GeoMetrx we have the
tools you need to assess the opportunities, locate the ideal site location, and
create, evaluate and align territories. Additionally, we have an exhaustive list
of Business Establishment datasets by NAICS code including the one depicted
below displaying the concentration of Accounting / Tax Preparation / Bookkeeping
and Payroll Services businesses. Each red dot represents 25 establishments
within that geographical region.

Click here to see a [27]larger version of this map.

For more information on how to obtain access to [28]GeoMetrx datasets, contact
us today at 1.888.848.4436.

April 2013 – Trivia Challenge

It took three tries to get the Federal Income Tax to stick, eventually becoming
the 16th Amendment to the U.S. Constitution in 1913.

Prior to that:

1) In what year was the first income tax imposed and how many years was it in
place before being repealed?

2) In what year was the income tax revived for a second time before being ruled
unconstitutional the following year?

[29]Click Here for the Answers

References

1. http://geometrx.com/
2. http://geometrx.com/contact-us/
3. mailto:info@geo-e.com?subject=October%202012%20Newsletter%20Feedback
4. http://www.geo-e.com/
5. http://www.geometrx.com/
6. http://www.geoprinter.com/
7. http://www.gis4less.com/
8. mailto:info@geo-e.com
9. mailto:info@geo-e.com
10. http://www.facebook.com/GeoMetrx
11. https://twitter.com/#!/geometrx_
12. http://www.linkedin.com/company/691866
13. http://geometrx.com/feed/
14. http://geometrx.com/blog/
15. http://geometrx.com/2013/03/geometrx-common-ground-news-volume-2-issue-3/
16. http://geometrx.com/2013/02/geometrx-common-ground-news-volume-2-issue-2/
17. http://geometrx.com/2013/01/geometrx-common-ground-news-volume-2-issue-1/
18. http://geometrx.com/2012/12/geometrx-common-ground-news-volume-1-issue-12/
19. http://geometrx.com/category/newsletters/
20. http://www.franchisehelp.com/industry-reports/tax-preparation-industry-report
21. http://www.franchisehelp.com/industry-reports/tax-preparation-industry-report
22. http://geometrx.com/
23. http://geometrx.com/
24. http://geometrx.com/wp-content/uploads/2013/04/Creating-a-Territory-Hierarchy-from-Scratch.pdf
25. http://geometrx.com/wp-content/uploads/2013/04/Creating-a-Territory-Hierarchy-from-Scratch.pdf
26. http://geometrx.com/
27. http://geometrx.com/common-ground-news-trivia-maps/
28. http://geometrx.com/
29. http://geometrx.com/newsletter-trivia-answers/

Posted in Application Documentation & Help, Archived Newsletters, Facts & Figures, Franchising, GeoMetrx Data In Action, Site Location Analysis | Leave a comment