Salesforce Launches Einstein Service Agent for Efficient Customer Service

Salesforce has introduced Einstein Service Agent, an AI-driven chatbot designed to streamline customer service by resolving issues quickly and accurately. This new tool improves customer service by providing an intelligent, conversational interface that uses trusted business and customer data. It can be deployed in minutes using out-of-the-box templates, Salesforce components, and a large language model (LLM). This allows for 24/7 customer engagement across various channels.

Einstein Service Agent differentiates itself from traditional chatbots by its ability to understand and act on a wide range of service issues without preprogrammed scenarios. This makes it more efficient in handling customer inquiries. Built on the Einstein 1 Platform, it uses generative AI to analyze customer messages and determine the next actions, grounding responses in company data. This capability allows service teams to focus on more complex tasks requiring human intervention while customers receive faster responses.

The agent operates around the clock, providing natural language responses through self-service portals and messaging channels. It also adheres to privacy and security guidelines set by companies. When complex issues arise, Einstein Service Agent can escalate the matter to human agents seamlessly.

Currently, in a pilot phase, Einstein Service Agent will be available later this year. It offers a quick setup with user-friendly interfaces, pre-built templates, and low-code workflows.

Research indicates that while most companies use chatbots, many customers prefer speaking to live agents due to the limitations of current chatbot technology. Einstein Service Agent addresses this gap by offering a more intelligent and autonomous solution.

Using the Einstein 1 Platform, the agent can interpret and process customer information to provide answers and solve problems. For instance, it can handle product returns autonomously by using customer and business data, even sending follow-up surveys to measure satisfaction.

Einstein Service Agent uses trusted data, including Salesforce CRM data, to provide personalized responses. It can integrate data from third-party systems like SharePoint and Google Drive. For example, it can offer personalized recommendations for a new cell phone based on a customer’s purchase history and other data points.

The agent also includes built-in guardrails to protect personally identifiable information (PII) and ensure compliance with company-defined parameters. The setup is straightforward and requires no extensive programming. Companies can leverage existing Salesforce objects and use a low-code builder to create custom actions quickly.

Einstein Service Agent can operate across multiple channels, including WhatsApp, Facebook Messenger, and SMS. It understands text, images, video, and audio, allowing customers to send photos or videos when explaining issues. For example, it can analyze a photo of an error code to determine if a replacement unit is needed.

If an inquiry is beyond its scope, Einstein Service Agent can transfer the conversation to a human agent, ensuring a smooth transition. This feature is particularly useful for sensitive situations, such as life insurance claims, where human care is essential.

This article, "Salesforce Launches Einstein Service Agent for Efficient Customer Service" was first published on Small Business Trends

Michigan Teen Graduates High School Early to Run Businesses

For years, young people have been told to go to college and then find a successful career. But higher education isn’t necessary to run a successful business, as one young entrepreneur in Michigan is proving.

Addison Bringedahl is a 17-year-old in Pentwater, Michigan. Her family runs multiple businesses, including a general store and a business that rents and repairs golf carts. Bringedahl spends much of her time working at her family’s businesses. But even that wasn’t enough to fulfill her entrepreneurial spirit.

She recently started her own business selling freshly squeezed lemonade. Her first weekend over the Fourth of July was a success. And she plans to keep the business going well into the future, hopefully moving it to Florida and operating it as a food truck.

Bringedahl told Fox 17 West Michigan, “I got really interested in business after my parents had their businesses.”

She added, “Not everyone needs college.”

In fact, Bringedahl even took online classes at Great Lakes Learning Academy in order to graduate from high school a year early.

This doesn’t mean that all high school students should finish early and skip college. But if Bringedahl or others already know what their goals are for their careers, taking a more linear path may make sense. College provides plenty of benefits for certain individuals. But running a business doesn’t require a degree. Instead, it requires hard work, a clear vision, and the ability to learn and grow throughout the experience.

Addison’s mom, Bethany Bringedahl, told Fox 17 West Michigan, “She tells me all the time that good things come to those who work hard. And she’s not afraid to be a hard worker. So we’re really proud of her.”

Since Bringedahl has already gained business experience from her family’s companies, she’s well suited to know whether or not business ownership is right for her. Since she clearly has the entrepreneurial bug, jumping right into the experience may be the right choice for her.

Image: Envato

This article, "Michigan Teen Graduates High School Early to Run Businesses" was first published on Small Business Trends

Miami Entrepreneur Finds Unique Way to Fight Fast Fashion Pollution

Fast fashion brands are a major contributor to the world’s pollution. But one Florida business is finding a unique way to make the industry more environmentally friendly.

Patricia Ermecheo is the founder of Osomtex, a Miami-based fashion company that makes recycled fabric and yarn out of potential fashion waste.

Ermecheo was already working on the business when she traveled to Ghana and 2018. There, she got to see where 70 percent of the world’s donated clothing is shipped to, and where many garments ultimately end up in landfills.

The company uses a patented process to transform everything from old t-shirts to bed sheets into threads that can be woven into new garments.

In addition to keeping clothes out of landfills, the process uses no water and no chemicals, which is significant because the fashion industry produces about 20 percent of the world’s wastewater.

Ermecheo told Local 10 News in Miami, “You manufacture the product, the product gets a life, gets used, and then we get that product and transform it back into raw material and incorporate that product back into the circle.”

And it’s not just environmental enthusiasts who are patronizing the company. So far, Osomtex has made shoes for Nike, uniforms for Olympic athletes, and even socks that have been worn into space by SpaceX astronauts.

The pollution created by the fast fashion industry is a real problem. And some brands have tried to combat it by creating garments that are made to be worn for longer periods instead of going right into landfills. However, Osomtex is taking a more direct approach by turning would-be discarded clothes into new garments. If the company can produce items of high quality that consumers will actually pay a premium for, it may make a major impact on both the company’s success and the problem of pollution from the industry.

Image: Envato

This article, "Miami Entrepreneur Finds Unique Way to Fight Fast Fashion Pollution" was first published on Small Business Trends

Be Uniic’s No-Nonsense Approach Revolutionizes Startup Marketing

In the competitive world of startup marketing, success stories are rare, and many agencies fail to deliver on their promises. Be Uniic is changing the game with a straightforward approach to growth and marketing for startups.

Specializing in pre-seed to Series B startups, Be Uniic focuses on driving growth through smart, data-driven strategies. Founded by Michael Gavin, Be Uniic was created to tackle the unique challenges startups face, such as lack of business insights, misaligned strategies, and poor execution, and to provide durable solutions.

“Startup founders have a really good idea and they jump to building a website to start and neglect the basics,” Gavin says. “Be Uniic’s full-stack services are designed to give startups those foundational pieces.”

Be Uniic isn’t just another “full-service” agency. It offers packages that focus on what startups truly need:

Paid Search: Boosting visibility on search engine platforms with expert ad creation and ongoing optimization.

SEO: Improving organic search visibility with thorough audits, keyword analysis, and content strategies.

Email Marketing: Utilizing email lists for high-ROI marketing campaigns.

Cold Outreach: Reaching potential customers through targeted campaigns.

Conversion Optimization: Enhancing website performance to drive revenue through user behavior analysis and A/B testing.

Be Uniic has a history of success, working with companies like Fuel2Electric, SkyHub Company, and Devma. Laurent Frugier, CEO of Fuel2Electric, notes, “You (Be Uniic) brought something fresh. A new eye to our brand. The phone is ringing, and that’s what we need.”

Be Uniic’s client relationships extend beyond immediate results. The company develops long-term partnerships focused on growth, sustainability, and success. By understanding business and customer insights, aligning vision and strategy, and executing with precision, Be Uniic stands out in the startup marketing space.

Startups often operate with limited resources, both in terms of time and money. A clear, no-nonsense marketing strategy ensures that every dollar spent contributes directly to measurable growth and success. This focus eliminates waste and optimizes the return on investment, which is vital for early-stage companies trying to establish a foothold in their market.

Transparency and honesty are also fundamental to building trust with customers and investors. Startups need to quickly build a loyal customer base and attract potential investors. By adopting a straightforward marketing approach, startups present themselves as credible and trustworthy, which can significantly enhance their reputation and foster long-term relationships. Clear communication helps set realistic expectations, reducing the likelihood of misunderstandings and disappointments.

Additionally, a no-nonsense approach allows startups to react swiftly to market changes. By focusing on what works and avoiding unnecessary complexity, startups can pivot quickly when needed, seizing new opportunities or addressing challenges as they arise. This agility is crucial in the fast-paced startup world, where the ability to adapt can make the difference between success and failure.

Finally, straightforward marketing focuses on delivering real value to customers. It prioritizes solving actual problems over flashy, superficial tactics. This customer-centric approach not only helps in attracting and retaining customers but also ensures that the startup is building a solid foundation for sustainable growth.

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This article, "Be Uniic’s No-Nonsense Approach Revolutionizes Startup Marketing" was first published on Small Business Trends

GPS Manufacturer Pays $2.6M to Settle False Claims Act Allegations Over PPP Loan

Hemisphere GNSS (USA) Inc., a GPS manufacturer in Arizona, has agreed to pay $2.6 million to settle allegations that it violated the False Claims Act. The company allegedly provided false information to apply for and receive forgiveness of a Paycheck Protection Program (PPP) loan it was not entitled to receive.

The PPP was established in March 2020 under the CARES Act to provide emergency financial support to businesses affected by the pandemic. The program authorized billions of dollars in forgivable loans to small businesses to help cover employee wages and other expenses. In 2021, Congress offered a second round of PPP loans through the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act. Borrowers were required to certify the accuracy of all information in their loan applications.

In February 2021, Hemisphere applied for a second-round PPP loan and certified its eligibility. The company claimed that no entity from the People’s Republic of China owned 20% or more of an economic interest in Hemisphere and that no board member was a resident of China. These certifications were allegedly false, making Hemisphere ineligible for the loan it received and later forgiven.

“Legitimate PPP loans saved small businesses across America,” said U.S. Attorney Gary M. Restaino for the District of Arizona. “But not everyone used the program as intended. Our office will continue to hold accountable those business and individuals who misused the PPP program, as the settlement announced today reflects.”

The civil settlement resolves claims brought under the qui tam provisions of the False Claims Act by GNGH2 Inc. Under these provisions, a private party can file an action on behalf of the United States and receive a portion of any recovery. The qui tam case is titled United States ex rel. GNGH2, Inc. v. Hemisphere GNSS (USA) Incorporated, 2:22-cv-00224 (D. Arizona). GNGH2 will receive $260,000 as its share of the settlement.

The resolution was achieved through the coordinated efforts of the Justice Department’s Civil Division, Commercial Litigation Branch, Fraud Section, and the U.S. Attorney’s Office for the District of Arizona, with assistance from the SBA’s Office of General Counsel and Office of the Inspector General. Trial Attorney John F. Schifalacqua and Assistant U.S. Attorney Anne E. Nelson handled the case.

“The settlement in this matter demonstrates the excellent results achieved through the combined efforts of SBA and the Department of Justice to uncover and forcefully respond to PPP misconduct,” said General Counsel Therese Meers of the Small Business Administration (SBA). “The federal government is strongly committed to identifying and aggressively pursuing any instances of fraud or misconduct within the Paycheck Protection Program.”

Potential fraud affecting COVID-19 relief programs can be reported through the Civil Division’s Fraud Section webpage or by calling the National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

The claims resolved by the settlement are allegations only, and there has been no determination of liability.

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This article, "GPS Manufacturer Pays $2.6M to Settle False Claims Act Allegations Over PPP Loan" was first published on Small Business Trends

IRS Enhances FATCA Registration with Multi-Factor Authentication

The Internal Revenue Service (IRS) announced that it will improve the identity authentication process for financial institutions registering under the Foreign Account Tax Compliance Act (FATCA). Starting July 14, users must sign in or register with the IRS’ credential service providers, Login.gov or ID.me, to access the FATCA Registration System. FATCA requires most U.S. taxpayers holding financial assets outside the U.S. and certain foreign financial institutions to report assets and financial accounts to the IRS.

Taxpayers who already have a Login.gov or an ID.me profile can sign in to the FATCA Registration System, provided the email matches that of the responsible officer or point of contact on the FATCA registration. Those who do not have a profile will need to create one to access the system. The new authentication requirement follows National Institute of Standards and Technology (NIST) digital identity guidelines.

To create a new profile with either Login.gov or ID.me, taxpayers must verify an email address, create a password, and set up multi-factor authentication (MFA) to secure their FATCA account. Both ID.me and Login.gov offer help desks to assist users who have difficulty with the systems. For questions and assistance regarding Login.gov, users can visit the Login.gov help center. For ID.me assistance, users can visit the Verifying for the Internal Revenue Service – ID.me Help Site.

Benefits of Multi-Factor Authentication for Small Businesses

Implementing multi-factor authentication (MFA) offers numerous benefits for small businesses, boosting security and protecting sensitive information. Here are some key advantages:

Improved Security: MFA provides an extra layer of security by requiring users to verify their identity using multiple methods. This reduces the risk of unauthorized access, even if a password is compromised. For small businesses, this means better protection of sensitive data, financial information, and customer records.

Reduced Risk of Data Breaches: Data breaches can be costly and damaging to a small business’s reputation. MFA significantly lowers the chances of a successful cyberattack by making it more difficult for hackers to gain access to systems and data. This helps protect against breaches that could lead to financial loss, legal issues, and a damaged reputation.

Adherence to Regulations: Many industries have regulations requiring businesses to protect customer data. Implementing MFA helps small businesses follow these regulations, avoiding potential fines and legal repercussions. For example, using MFA can help businesses meet the requirements of regulations like the General Data Protection Regulation (GDPR) and the Health Insurance Portability and Accountability Act (HIPAA).

Building Trust with Clients and Partners: Clients and business partners are more likely to trust a company that takes data security seriously. By using MFA, small businesses can demonstrate their commitment to protecting sensitive information, which can strengthen relationships with clients and partners and potentially attract new business.

Protection Against Identity Theft: MFA helps prevent identity theft by adding an extra verification step. This is especially important for businesses that handle sensitive personal information, such as social security numbers, financial records, or health data. Protecting this information helps maintain customer trust and reduces the risk of identity theft.

Cost-Effective Security Solution: While no security measure is foolproof, MFA is a relatively cost-effective way to significantly improve security. Implementing MFA can be more affordable than dealing with the fallout from a data breach, including the costs of remediation, legal fees, and lost business.

Easy Implementation: Modern MFA solutions are user-friendly and can be implemented with minimal disruption to business operations. Many MFA providers offer straightforward integration with existing systems, making it easy for small businesses to adopt this security measure without significant technical challenges.

Flexibility and Scalability: MFA solutions can be tailored to fit the needs of small businesses, whether they have a handful of employees or are growing rapidly. This flexibility ensures that as the business expands, its security measures can scale accordingly, providing ongoing protection against evolving threats.

Multi-factor authentication is a valuable security measure for your small business. It improves security, reduces the risk of data breaches, ensures adherence to regulations, builds trust with clients and partners, and offers a cost-effective, scalable solution. By implementing MFA, you can better protect sensitive information and maintain a secure operating environment.

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This article, "IRS Enhances FATCA Registration with Multi-Factor Authentication" was first published on Small Business Trends

Elon Musk Announces California Exit Due to Controversial New Law

Billionaire Elon Musk recently announced that he’s moving the headquarters for his companies SpaceX and X out of California after the passage of a controversial new bill. The Bill, Elon Musk exiting California due to AB 1955, a bill that prohibits schools from notifying parents of changes in a child’s gender identity.

Musk wrote on X, formerly known as Twitter, “This is the final straw. Because of this law and the many others that preceded it, attacking both families and companies, SpaceX will now move its HQ from Hawthorne, California, to Starbase, Texas.”

Shortly after that initial post, he clarified that he also plans to move the headquarters for X from California to Texas.

A spokesperson for Governor Gavin Newsom’s office told Fox News, “This law helps keep children safe while protecting the critical role of parents. It protects the child-parent relationship by preventing politicians and school staff from inappropriately intervening in family matters and attempting to control if, when, and how families have deeply personal conversations.”

Additionally, the law does not prohibit parents from accessing their children’s educational records. And minors still must have the consent of their parents or legal guardians in order to change their name or official school records. So this law mainly just applies to students who may be informally changing elements of their identity among peers.

However, Musk and others with similar opinions see laws like this as an attack on families. Especially in today’s divisive political environment, controversial legislation is likely to draw ire from both individuals and businesses.

Not all entrepreneurs have the desire or ability to take a stand by moving their business to a new state. But in general, many are still aware of controversial topics like this and may decide to speak up in other ways, like posting on social media or getting involved in local elections. Just be sure to think through any potential implications of decisions that may come across as controversial.

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This article, "Elon Musk Announces California Exit Due to Controversial New Law" was first published on Small Business Trends

She Traveled to All 50 States- This is What She Learned About Business

What if you traveled around the country to each state for a week all in one year and met people just like you and people that weren’t at all like you.

This week on The Small Business Radio Show, I talked to State Senator Dafna Michaelson Jenet, who did just that many years ago and was featured on “Sunday Morning” as a result.

The question “What would you do if you won the lottery?” was the catalyst that caused Dafna to jump off her 15-year non-profit career track and travel the country seeking stories that empower all of us. Her goal was, and still is: “Changing the mirror we use that reflects who we are as a society”. It’s amazing what you can learn couch surfing America. Her book is called “It Takes a Little Crazy to Make a Difference.”

The Story Behind “It Takes a Little Crazy to Make a Difference”

Dafna’s book, “It Takes a Little Crazy to Make a Difference,” originally published in 2015, faced a significant challenge when the original publisher sold the company. The new publisher demanded $10,000 per title to keep the book in print. After some negotiations, Dafna and her husband managed to regain the rights and republish the book under the title “It Takes a Little Crazy to Make a Difference, Dafna’s Version.”

The Catalyst for the Book

The inspiration for Dafna’s book came from a conversation with her then-boyfriend, now husband, about winning the lottery. This whimsical discussion led her to envision a journey across all 50 states to engage with governors and citizens about solving community problems. Despite facing financial challenges, Dafna met 500 incredible individuals dedicated to making a difference in their communities. She talks about what she learned.

The Impact of Media Exposure

Dafna’s journey caught the attention of CBS Sunday Morning, which featured her story. This exposure significantly influenced her desire to serve in the legislature. Dafna believes that such journeys are more crucial than ever in today’s politically divided climate, emphasizing the need for community engagement and problem-solving.

Listen to the entire interview on The Small Business Radio Show.

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This article, "She Traveled to All 50 States- This is What She Learned About Business" was first published on Small Business Trends

Smartsheet Integrates Amazon Q to Boost Employee Productivity with AI

Smartsheet has integrated Amazon Q, a generative AI assistant, into its operations to enhance productivity and streamline knowledge management. This new AI-powered tool, part of a deeper partnership with Amazon Web Services (AWS), looks to provide immediate answers to employees’ questions, helping them work more efficiently.

The enterprise work management platform has implemented Amazon Q within its Slack app. This integration allows over 3,300 Smartsheet employees to quickly find information without needing to know where it is stored. The AI assistant, named @AskMe, is trained on public help documents, training courses, and numerous Slack help channels. By tagging @AskMe in any Slack conversation, employees can receive instant answers, saving significant time previously spent searching for information. This allows them to support customers better and focus on innovative projects.

The @AskMe chatbot has fostered a self-serve culture within Smartsheet, enabling employees at all levels to address their queries quickly. Executive leaders have noted increased visibility, curiosity, and engagement with projects, needing to directly ask for information less frequently.

“Smartsheet is integrating generative AI to improve productivity and remove some of the drudgery from work so our employees and customers can focus on the work that matters most,” said Ben Canning, SVP of Product Experiences at Smartsheet. “With our new Amazon Q chatbot in Slack, our teams can instantly get the information they need, cutting down on time spent searching for answers and enabling them to work through common issues faster so they can keep building new product features. We’re just scratching the surface of what’s possible with Amazon Q, and we look forward to continuing to partner with AWS to apply the technology in new ways.”

The implementation of Amazon Q at Smartsheet will be discussed by JB Brown, VP of Engineering at Smartsheet, at the AWS Summit New York on July 10, 2024. His session, titled “Make the most of generative AI in your company with Amazon Q Business,” will be at 4 p.m. ET, with a recording available after the event.

The partnership between Smartsheet and AWS focuses on driving innovation and simplifying work processes. This integration of Amazon Q is a prime example of their collaboration, leveraging AI to make organizational knowledge more accessible and boost productivity.

“Smartsheet and AWS share a commitment to innovation that simplifies work,” said Rich Geraffo, Vice President and Managing Director at AWS. “With Amazon Q, Smartsheet is applying generative AI to make its organizational knowledge more accessible, boosting employee productivity and freeing up their team’s time to focus on delivering for customers. We look forward to continuing to work with Smartsheet on new AI-powered solutions that empower employees and customers to achieve more.”

Smartsheet’s use of Amazon Q represents a significant step in leveraging AI to enhance workplace efficiency and productivity. The AI assistant’s ability to provide quick, accurate answers is transforming how employees access and use information, allowing them to focus on their most impactful work.

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This article, "Smartsheet Integrates Amazon Q to Boost Employee Productivity with AI" was first published on Small Business Trends

Supreme Court Decisions Benefit Small Businesses in 2023-2024 Term

The U.S. Supreme Court’s 2023-2024 term brought key victories for small businesses, impacting the Main Street economy. The National Federation of Independent Business (NFIB) filed amicus briefs in 12 cases, with five decisions favoring small businesses, including a significant ruling overturning Chevron.

“The Supreme Court considered several high-stakes issues this term, especially for the small business community,” said Beth Milito, Executive Director of NFIB’s Small Business Legal Center. “Eliminating Chevron deference is a major step in limiting government overreach and providing small business owners with a level playing field to defend their rights. These victories will prevent the damaging effects of extraneous regulatory interference and harmful penalties and will protect the rights of current and future entrepreneurs.”

One landmark case, Loper Bright Enterprises v. Gina Raimondo, overturned a precedent allowing federal agencies to enforce burdensome regulations for 40 years. The ruling requires courts to use independent judgment when assessing agency actions rather than deferring to the agencies themselves.

In Securities and Exchange Commission v. Jarkesy, the Court ruled that the SEC’s in-house enforcement proceedings are unconstitutional. This decision upholds the Seventh Amendment right to a jury trial, preventing unjust penalties on small businesses.

The case Sheetz v. County of El Dorado, California, addressed unconstitutional conditions related to building permits. The Court agreed with NFIB’s stance that the Fifth Amendment’s Takings Clause applies to both administrative and legislative exactions.

In Corner Post, Inc. v. Board of Governors of the Federal Reserve System, the Court clarified when the statute of limitations for challenging an agency rule begins. It ruled that newly formed entities are not injured by an agency’s final rule until they are operational.

The Starbucks Corporation v. M. Kathleen McKinney case dealt with the National Labor Relations Board’s requests for injunctions. The Court ruled that the NLRB must meet a demanding preliminary injunction test before intervening in small business operations.

The NFIB Small Business Legal Center continues to defend the rights of small business owners in courts across the country, including the U.S. Supreme Court.

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This article, "Supreme Court Decisions Benefit Small Businesses in 2023-2024 Term" was first published on Small Business Trends

IRS Warns Taxpayers About False “Self Employment Tax Credit” Claims

The Internal Revenue Service (IRS) has issued a warning to taxpayers about misleading claims regarding a non-existent “Self Employment Tax Credit.” Promoters and social media platforms are spreading false information, encouraging taxpayers to file incorrect claims.

Promoters are marketing the so-called “Self Employment Tax Credit” as a way for self-employed individuals and gig workers to receive significant payments related to the COVID-19 pandemic. This misinformation is similar to the misleading promotion of employee retention credit. Some promoters falsely suggest that people can receive payments up to $32,000, even though this is not accurate.

The IRS clarifies that the credit being misrepresented is actually the Credits for Sick Leave and Family Leave. This credit is limited and technical, and many people do not qualify. The IRS is closely scrutinizing claims filed under this provision. People submitting false claims are doing so at their own risk.

“This is another misleading social media claim that’s fooling well-meaning taxpayers into thinking they’re due a big payday,” said IRS Commissioner Danny Werfel. “People shouldn’t be misled by outlandish claims they see on social media. Before paying someone to file these claims, taxpayers should consult with a trusted tax professional to see if they meet the very limited eligibility scenarios.”

Self-employed individuals can claim Credits for Sick and Family Leave only under specific COVID-19-related conditions in 2020 and 2021. The credit is not available for 2023 tax returns. The IRS has noted that many taxpayers are incorrectly using Form 7202, Credits for Sick Leave and Family Leave for Certain Self-Employed Individuals, to claim a credit based on employee income instead of self-employment income.

To qualify for these credits, self-employed workers must meet specific conditions from 2020 and 2021 that prevented them from working. These include caring for someone under quarantine or isolation. The IRS provides detailed FAQs explaining the requirements for this provision.

The IRS sees similarities between the misleading promotion of the “Self Employment Tax Credit” and the aggressive marketing of the Employee Retention Credit. Both are technical credits misrepresented as easy ways for taxpayers to receive large government payments. In reality, these credits have strict and complex requirements.

The IRS urges taxpayers to consult a trusted tax professional before filing for any questionable tax credit claims circulating on social media. The IRS has previously warned about the misuse of Sick and Family Leave Credits due to various tax scams and inaccurate social media advice. These scams led many taxpayers to file inflated refund claims during the last tax season.

In addition to the Sick and Family Leave Credit, the IRS warns taxpayers to be cautious of scams involving the Fuel Tax Credit and household employment taxes. Many dubious claims have been filed, causing delays in refunds and requiring taxpayers to provide documentation to support their claims.

The IRS continues to urge taxpayers to avoid these scams. Myths about obtaining large refunds through these methods persist, but they are false. Many of these scams, including the fuel tax credit scam and bad social media advice, were highlighted during the IRS’s annual Dirty Dozen series.

“These improper claims have been fueled by social media and people sharing bad advice,” Werfel said. “Scam artists constantly prey on people’s hopes and try to use the complexity of the tax system to convince people there are secret ways to get a big refund. All of these scams illustrate that it’s important to carefully review the tax return for accuracy before filing and rely on the advice of a trusted tax professional, not someone trying to make a quick buck or a questionable source on social media.”

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This article, "IRS Warns Taxpayers About False “Self Employment Tax Credit” Claims" was first published on Small Business Trends

SBA Announces $3M in Grants to Improve Cybersecurity for Small Businesses

The U.S. Small Business Administration (SBA) has announced $3 million in new funding to support cybersecurity for emerging small businesses. This initiative, under the Cybersecurity for Small Businesses Pilot Program, will award three grants to state agencies, providing training and support to combat cyber threats.

Administrator Isabel Casillas Guzman, head of the SBA, highlighted the importance of this funding. “With small businesses accounting for 99.9 percent of all American businesses and employing nearly half of the private workforce, any cyber threat to our small businesses is a threat to our country’s overall economy,” said Guzman. “The Biden-Harris Administration is committed to strengthening our nation’s cybersecurity and equipping small businesses with the tools they need to strengthen their cyber health and prevent costly attacks that disrupt their businesses. Through this new funding, the SBA will fund ecosystem partners to provide more cyber training and counseling to strengthen small businesses’ ability to compete in this increasingly digital economy.”

Applications for the grants will be accepted from July 2 to August 2. Applicants can apply for awards ranging from $1,000,000 to $1,045,000, covering a performance period of 24 months ending in September 2026. Eligible applicants include state and territorial government agencies aiming to offer tailored cybersecurity services to startups and emerging entrepreneurs.

This funding opportunity will support efforts to educate emerging small businesses when they are most vulnerable to cyber threats. It will help them develop robust cybersecurity measures, which are critical for operating in today’s digital economy.

The SBA’s Cybersecurity for Small Business Pilot Program has awarded nearly $9 million since 2022. Proposals for this round of funding must be posted to Grants.gov by 11:59 p.m. (EDT) on August 2 under “Cybersecurity for Small Business Pilot” (Funding Opportunity Number SB-OEDCS-24-001).

In addition to the grant program, the SBA, along with its Resource Partners, offers various cybersecurity resources to small businesses. These include in-person and online training. Small business owners can find local SBA resources at www.sba.gov/local-assistance and learn more about SBA’s cybersecurity programs and services at www.sba.gov/cybersecurity.

About the Cybersecurity for Small Business Pilot Program

Cyberattacks pose a real threat to small businesses and the broader U.S. economy. According to the FBI’s Internet Crime Report, cybercrimes against small businesses cost $2.9 billion in 2023. Small businesses are often targeted due to their valuable information and typically weaker security infrastructure compared to larger enterprises.

An SBA survey revealed that 88% of small business owners felt their businesses were vulnerable to cyberattacks. Many small businesses struggle with affording professional IT solutions, lack the time for cybersecurity, or don’t know where to start. Eligible applicants for this program are state governments seeking to provide cybersecurity training and services to small businesses.

This pilot program enables state governments to expand their existing services, innovate, and develop new resources to assist more small businesses. It also aims to increase access to underserved and underrepresented small business communities, ensuring a wider impact.

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This article, "SBA Announces $3M in Grants to Improve Cybersecurity for Small Businesses" was first published on Small Business Trends

Thousands in Additional Grant Funds Proposed to Help Small Businesses

Small business grant programs remain one of the best ways for local communities and government agencies to support the economy. There are many ways these programs can help small businesses, from improving downtown storefronts to creating new jobs. Below, explore several programs that are currently supporting businesses and communities throughout the U.S.

Evanston Small Business Recovery Program

Evanston, Illinois’ Housing and Community Development Committee recently recommended investing more funding into a grant program for local businesses. The recommendation includes allocating $75,000 in federal funds to the Small Business Recovery Program, a grant program that supported companies that were negatively impacted by the pandemic. The program received 75 eligible applications during the initial application period, including a total of $600,000 in funds requested. Of those original applicants, 34 haven’t received grants. So the additional funds that the committee is recommending would help the city award grants to another seven to ten businesses.

Oakland County Main Street Connected Grant Program

Oakland County, Michigan’s Main Street Connected Grant Program is offering grants of $2,500 in technology and digital support that businesses can use toward various software or equipment purchases or related projects. To qualify, businesses must be located in communities where Michigan State University Federal Credit Union operates, have less than ten years in business, and be willing to provide matching funds. August 4 is the deadline to apply.

New Ulm Small Business Grant Program

New Ulm, Minnesota is preparing to launch another round of its Small Business Grant Program. But the city’s Economic Development Agency is considering some changes to the program going forward. For example, the program initially gave out five grants for $10,000 each, but this year provided 14 businesses with $7,500 grants. Officials are also considering narrowing the grant program’s focus to certain types of businesses like restaurants, retail, and childcare. These updates haven’t yet been approved, but the organization is considering the changes and will provide updates in the coming weeks.

Arizona Rural Energy for America Program Grant Writing Assistance Center

Arizona is offering a new grant writing assistance program for small businesses looking to receive funding through the federal Rural Energy for America Program (REAP). Local First Arizona is facilitating the new grant writing assistance center, which aims to help Arizona small businesses and tribal communities gain access to these federal funds. The REAP program has more than $30 million available to help rural businesses and communities install solar power systems and become more energy efficient.

Northern Kentucky Chamber of Commerce Grants

The Northern Kentucky Chamber of Commerce is partnering with Duke Energy Foundation and Blue North to provide grants for minority-, women- and veteran-owned businesses throughout the area. The Duke Energy Foundation and Blue North are each providing $25,000, and the Northern Kentucky Chamber of Commerce Foundation is facilitating the $50,000 program. Qualified businesses can request between $1,000 and $10,000 to complete various projects, from beautification to talent sourcing. To qualify, businesses must have 50 or fewer employees and be Duke Energy small business customers located in Boone, Campbell, or Kenton counties. October 1 is the deadline to apply.

SBA Cybersecurity for Small Business Pilot Program

The U.S. Small Business Administration is providing $3 million in new funding for the Cybersecurity for Small Business Pilot Program. This program awards funds to state agencies rather than directly to small businesses. But these agencies can then use funds to provide training, counseling, and other cybersecurity services tailored to startups and small businesses. The application period for state and territorial government agencies to apply runs from now through August 2.

Image: Depositphotos

This article, "Thousands in Additional Grant Funds Proposed to Help Small Businesses" was first published on Small Business Trends

DOJ Rule Boosts Web, Mobile App Access for Disabled Users

The Justice Department has issued a final rule to improve accessibility for people with disabilities on websites and mobile apps. This rule, published on April 24, requires state and local governments to comply with the Americans with Disabilities Act (ADA) standards within two to three years, based on population size.

Websites and apps of public entities provide services like healthcare, education, voter information, and more. The new rule mandates these services to meet technical accessibility standards, promoting independence, dignity, and privacy for people with disabilities.

The rule was developed with input from individuals with disabilities, advocacy groups, governments, and web accessibility experts. Public feedback significantly influenced the final rule. Commenters highlighted the barriers posed by inaccessible websites and apps. One individual stated, “As blind and visually impaired adults, we live just as independent, productive and self-sufficient as anyone would. Our privacy, confidentiality and livelihoods depend on full unrestricted accessibility of any website and mobile app available to everyone.”

Another commenter noted, “The internet lifts the barriers to communication and interaction that millions of Americans face in the physical world. This regulation has the potential to dramatically change the lives of individuals with disabilities and so many others.”

These comments underscore the rule’s role in eliminating barriers to civic participation, allowing individuals with disabilities to engage more fully with their communities. The rule aims to realize the ADA’s goals of equality, participation, independent living, and self-sufficiency in the digital realm.

The final rule is available on the Federal Register’s website and ADA.gov, along with a fact sheet and a Small Entity Compliance Guide to assist small state and local governments in understanding the requirements.

For ADA inquiries, contact the department’s toll-free ADA Information Line at 800-514-0301 (voice) or 833-610-1264 (TTY). Visit the ADA website at www.ada.gov and the Civil Rights Division website at www.justice.gov/crt for more information.

Image: Envatoada.gov

This article, "DOJ Rule Boosts Web, Mobile App Access for Disabled Users" was first published on Small Business Trends

Antitrust Bills Could Have Unintended Consequences for Small Businesses

A series of new bills aims to curb monopolies among tech giants like Amazon. While the goal is ultimately to increase competition and help small businesses, some argue that their passage could actually have the opposite effect.

These bills, the American Choice and Innovation Online Act and the Ending Platform Monopolies Act address issues like large brands prioritizing their own products in search results. For example, Amazon’s private label product line, AmazonBasics, has been expanding in recent years, providing stiff competition for small businesses that sell on the platform.

However, critics of the proposed bills argue that the language may be too vague. And they do nothing to prevent Amazon and other tech companies from adjusting to pad their profit margins in other ways that may be even more harmful for small businesses.

For example, if Amazon becomes unable to sell its AmazonBasics line, it may look to earn more by partnering with larger brands.

In a recent opinion piece for The Hill, Hsing Kenneth Cheng, Ph.D. and Jingchuan Pu, Ph.D., of the University of Florida wrote, “Imagine you are a small business owner that is selling athletic shoes on Amazon and, rather than competing directly with AmazonBasics, you now need to compete with Nike or Adidas. That’s a major game-changer, and not in a good way. When backed into a corner, Amazon (being a profit-driven company) will look to maximize its revenue, and it won’t be doing small businesses any favors in the process. Amazon will seek to gain more bargaining power over companies like Nike. In the process, small business owners will lose visibility on the platform, and global brands will gain it.”

This doesn’t mean that fighting monopolies is useless. But considering all the potential implications of any changes is an important part of passing these bills. When attempting to regulate tech giants like Amazon that have offerings for small businesses, it’s important to understand that these companies will prioritize their own profits over nearly everything else. If the goal is really to support small businesses, then some extra scrutiny may be necessary before passing any legislation.

Image: Shutterstock

This article, "Antitrust Bills Could Have Unintended Consequences for Small Businesses" was first published on Small Business Trends

Indianapolis CPA Pleads Guilty to Illegal Tax Shelter Scheme

An Indianapolis CPA has admitted guilt in connection with an illegal tax shelter scheme. Jason L. Crace, the defendant, prepared false tax returns for clients, causing significant losses to the IRS.

From 2013 to 2022, Crace assisted clients in Mississippi and other locations by filing tax returns with fraudulent deductions for “royalty payments.” According to court documents, these payments were not legitimate business expenses. Instead, they were part of a scheme where participants sent money to accounts controlled by promoters, who then returned the money to accounts controlled by the participants. This circular flow of money created the illusion of legitimate business expenses, allowing participants to claim false deductions on their tax returns. The decision on the amount of “royalties” to pay was based solely on how much income the participants wanted to hide from the IRS.

Crace’s actions resulted in at least $2,532,936 in losses to the IRS. He is scheduled for sentencing on January 14, 2025. Crace faces a maximum prison sentence of three years, along with supervised release, restitution, and monetary penalties. The final sentence will be determined by a federal district court judge, who will consider the U.S. Sentencing Guidelines and other factors.

The announcement was made by Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division and U.S. Attorney Todd W. Gee for the Southern District of Mississippi. The IRS Criminal Investigation Division is handling the investigation.

Trial Attorneys Richard J. Hagerman, William M. Montague, and Matthew C. Hicks of the Justice Department’s Tax Division, along with Assistant U.S. Attorney Charles W. Kirkham for the Southern District of Mississippi, are prosecuting the case.

Small Business and Tax Shelters

Small business owners should be especially cautious about tax shelters. These schemes can seem like a way to save money, but they often cross the line into illegal territory. The penalties for participating in such activities can be severe, including hefty fines, repayment of back taxes, and possible prison time. Additionally, being involved in illegal tax shelters can damage a business’s reputation and lead to a loss of trust among customers and partners. Business owners need to consult with reputable tax professionals and ensure that their tax strategies comply with the law to avoid such risks.

Image: Envato

This article, "Indianapolis CPA Pleads Guilty to Illegal Tax Shelter Scheme" was first published on Small Business Trends

Zoom Introduces Workflow Automation for Enhanced Workplace Efficiency

Zoom has unveiled its new Workflow Automation feature, currently in beta, designed to enhance efficiency and reduce the time spent on routine tasks. This tool allows users to create complex workflows across Zoom Workplace and third-party applications, facilitating more meaningful work and seamless collaboration. Workflow Automation integrates with Zoom Team Chat, with plans for additional features soon.

In a fast-paced work environment, efficiency is crucial. Zoom Workplace maximizes productivity with innovative features. Workflow Automation allows users to automate tasks like setting up welcome messages for new team members, creating recurring project reminders, streamlining time-off requests, and gathering feedback via chat questionnaires. These features empower users to save time and focus on their core responsibilities. Importantly, this tool requires no technical skills, thanks to its drag-and-drop functionality.

“We built Workflow Automation to be easy for teams of all sizes and abilities to use. We’re launching Workflow Automation with Team Chat first because it’s an opportunity to strengthen collaboration with team members and get work done asynchronously,” said Wei Li, head of Zoom Team Chat at Zoom. “Workflow Automation helps teams by taking the guesswork out of setting up workflows and helps cut down on tedious and repetitive tasks.”

Creating workflows can be complex, but Zoom’s Workflow Automation simplifies this with pre-built templates and the option to build custom workflows. Users can automate tasks to focus on strategic decisions, enhancing overall productivity. Examples include scheduling project updates, collecting feedback, and managing incident reports efficiently.

Users can set up various workflows, including sequential, conditional, or switch-based, to handle multiple paths and outcomes. For instance, feedback in Team Chat can be categorized based on keywords, routing “billing” queries to the finance channel and “technical issues” to IT support. This automation optimizes response times and ensures efficient handling of diverse inquiries.

Workflow Automation is designed to be user-friendly, making it accessible to teams of all skill levels. Pre-built templates are available for tasks such as onboarding new members and simplifying approval processes. Zoom plans to introduce more templates to meet various business needs.

During the beta period, Workflow Automation is available to paid Zoom users at no extra cost. Once fully launched, paid plans will include unlimited standard workflow runs and specific allotments for premium runs, with charges for overruns.

Image: zoom.com

This article, "Zoom Introduces Workflow Automation for Enhanced Workplace Efficiency" was first published on Small Business Trends

Discover Introduces Balance+: Fee-Free Overdraft Protection

Discover has introduced Balance+, a feature for its Cashback Debit Checking account that provides customers with fee-free overdraft coverage on debit card transactions. This move addresses the common issue of overdraft fees, offering relief to those living paycheck-to-paycheck. Balance+ allows account holders to overdraw their accounts by up to $200 without incurring fees.

To qualify for Balance+, an account must be in good standing and have a positive balance. Additionally, account holders need to receive at least one direct deposit of $200 or more per month for the past two months. This feature aims to help customers manage their finances more easily and avoid stress when covering everyday purchases.

Balance+ is an addition to Discover’s existing overdraft protection services, which include fee-free Overdraft Protection. This service automatically transfers money from a linked Discover account to cover transactions when an account is overdrawn. While Balance+ covers debit card purchase overdrafts, Overdraft Protection covers checks, online bill payments, and ACH transfers initiated at another bank. Customers can enroll in both services to ensure comprehensive coverage for various transaction types.

“With Balance+, we are giving our customers peace of mind that Discover has their back when they use their debit card for their everyday necessities,” said Ram Subramanian, vice president, and chief marketing officer of Discover Bank. “This is a natural extension of our commitment to offering the most rewarding banking experience without having to worry if you make a mistake.”

Discover has also made several enhancements to its Cashback Debit service, aiming to provide a better customer experience. These improvements include:

• Add Cash: Customers can now add money to their accounts at any Walmart location in the U.S. quickly and without fees.
• Direct Deposit Switch: This feature allows customers to set up or switch their payroll direct deposit instructions securely through the Discover mobile app or online portal, enabling access to Early Pay, which provides funds up to two days earlier.
• Secure Account Linking: Customers can seamlessly link external accounts to their Discover Bank account.

These new features build on the existing benefits of Cashback Debit, which include 1% cash back on up to $3,000 in debit card purchases each month, no fees for monthly maintenance, insufficient funds, or overdraft, fraud protection on debit card purchases, and access to over 60,000 fee-free ATMs across the U.S.

“Cashback Debit offers consumers a wide range of benefits and is one of the only checking accounts to offer cash back rewards,” added Subramanian. “We’re excited to continue building on this product to provide straightforward and meaningful benefits that put the consumer in control of their finances.

Image: Depositphotos

This article, "Discover Introduces Balance+: Fee-Free Overdraft Protection" was first published on Small Business Trends

Deadline Approaching for SBA Disaster Loans Due to Smith River Complex Fire

California small businesses have until August 6, 2024, to apply for an SBA federal disaster loan for economic injury due to the Smith River Complex Fire. This fire, which occurred on August 15, 2023, affected Del Norte County.

Francisco Sánchez Jr., the associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration (SBA), emphasized the importance of this deadline. He noted that small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations of any size are eligible to apply. These Economic Injury Disaster Loans (EIDL) offer up to $2 million to help meet working capital needs resulting from the disaster.

“Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable, and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the applicant suffered any property damage,” said Sánchez.

These low-interest federal disaster loans are available to businesses and organizations in Del Norte, Humboldt, and Siskiyou counties in California, as well as Curry and Josephine counties in Oregon.

The loans feature an interest rate of 4 percent for businesses and 2.375 percent for private nonprofit organizations, with terms extending up to 30 years. The loan amounts and terms are determined by the SBA based on the financial condition of each applicant. Importantly, interest does not begin to accrue until 12 months from the date of the first loan disbursement, and repayment also starts 12 months from the first disbursement.

Applicants can apply online and find additional disaster assistance information at SBA.gov/disaster. For more details, businesses can call the SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov. For those who are deaf, hard of hearing, or have a speech disability, telecommunications relay services can be accessed by dialing 7-1-1.

This financial support aims to help affected businesses and organizations recover and maintain their operations during this challenging time. Timely application is crucial to secure the needed funds and support economic recovery in the affected areas.

Image: Depositphotos

This article, "Deadline Approaching for SBA Disaster Loans Due to Smith River Complex Fire" was first published on Small Business Trends

Deadline for Idaho SBA Disaster Loans for Storm Damage Approaches

Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration (SBA), has reminded Idaho private nonprofit organizations of the August 9 deadline to apply for an SBA federal disaster loan for property damage caused by the severe storm, flooding, landslides, and mudslides that occurred on April 14-15. Private nonprofits that provide services of a governmental nature are eligible for this assistance.

Eligible private nonprofits of any size can apply for SBA federal disaster loans of up to $2 million. These loans can be used to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Additionally, the SBA can provide funds for improvements to protect, prevent, or minimize future disaster damage.

SBA also offers Economic Injury Disaster Loans to help eligible private nonprofits meet working capital needs caused by the disaster. These loans can be used to pay fixed debts, payroll, accounts payable, and other bills that cannot be paid because of the disaster’s impact. Importantly, economic injury assistance is available regardless of whether the private nonprofit suffered any property damage. The deadline for private nonprofits to apply for an SBA Economic Injury Disaster Loan is March 10, 2025.

These low-interest federal disaster loans are available in Idaho, Lewis, and Shoshone counties. The interest rate for these loans is 3.25 percent, with terms extending up to 30 years. The loan amounts and terms are set by the SBA based on each applicant’s financial condition. Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment also begins 12 months from the date of the first disbursement.

Applicants can apply online and receive additional disaster assistance information at SBA.gov/disaster. For more details, applicants can call the SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov. People who are deaf, hard of hearing, or have a speech disability can dial 7-1-1 to access telecommunications relay services.

SBA’s disaster loans aim to help private nonprofits recover from losses caused by natural disasters. These loans offer a vital lifeline for organizations struggling to rebuild and continue providing services to their communities. By offering flexible terms and deferred interest accrual, the SBA allows affected nonprofits to focus on recovery without the immediate burden of financial repayment.

It’s important for eligible organizations to take advantage of this opportunity before the deadline. Applying for these loans can provide the necessary resources to repair, replace, and improve infrastructure, making them better prepared against future disasters. As the August 9 deadline approaches, Idaho’s private nonprofits should act swiftly to secure the support needed to recover and strengthen their operations.

Image: Envato

This article, "Deadline for Idaho SBA Disaster Loans for Storm Damage Approaches" was first published on Small Business Trends

Etsy Launches Ad Campaign Celebrating Human Connection and Creativity

For the first half of the year, Etsy has been dedicated to launching marketing campaigns that showcase how its community of 7 million sellers can help buyers achieve all their shopping and gifting goals.

Today, Etsy unveils its latest advertising campaign, celebrating the human connection and creativity that thrive on its platform. The “Brand Mission Campaign” coincides with significant changes to the onsite experience, aiming to communicate how and why items belong on Etsy clearly.

The campaign’s core objectives are simple:

Bring sellers’ names front and center to remind buyers who makes Etsy unique.

Highlight the passion, creativity, and love Etsy sellers infuse into every item.

Emphasize Etsy’s mission to Keep Commerce Human in an era dominated by mass-produced goods.

Billboards throughout New York City and London feature Etsy sellers, showcasing their unique roles in creating their products. These out-of-home ads are designed to feel intimate and accessible, paired with larger-than-life placements that elevate sellers to iconic status.

The campaign’s social media content delves into the personal stories of Etsy sellers, while a new TV ad serves as a heartfelt message from Etsy to its sellers. The ad features music by Academy Award-nominated composer Jerskin Fendrix, with contributions from Etsy sellers Jieun, Wyeth, Kwadwo, Gabriel, and Jesus.

Accompanying the campaign is a revamped home page that curates the best of Etsy, highlighting the shops of sellers featured in the campaign. This new experience allows shoppers to explore and support the sellers who embody Etsy’s mission.

Etsy’s sellers are the heart of its marketplace, bringing a unique human touch to every purchase. The campaign invites everyone to explore these stories and celebrate the individuality, creativity, and meaningful connections that make shopping on Etsy special.

Image: Envato

This article, "Etsy Launches Ad Campaign Celebrating Human Connection and Creativity" was first published on Small Business Trends

Georgia Precious Metals Dealer Sentenced to 4 Years for Tax Fraud

Saleem Hakim, a Georgia-based precious metals dealer, was sentenced to four years in prison for tax evasion and failing to file tax returns. This sentencing follows his conviction in January.

Court documents and trial evidence revealed that from 2009 through 2013, Hakim brokered the sale of precious metals to clients, earning over $2.8 million in commissions. He used this income to fund a lavish lifestyle, purchasing high-end watches, jewelry, designer accessories, and furs. Despite his substantial earnings, Hakim did not file income tax returns during these years, with his last filed return being for the 1999 tax year.

Additionally, between 2020 and 2022, Hakim and his wife worked for businesses in Atlanta that dealt in jewelry and luxury handbags, earning a combined income of more than $260,000. They did not file tax returns for these years either. Hakim attempted to hide their income by diverting it into a trust he established after initially being charged with tax crimes for 2011 through 2013.

Hakim also tried to obstruct the investigation into his tax misconduct from 2020 through 2022. After a witness received a grand jury subpoena for records related to income paid to Hakim and his wife, Hakim drafted a false statement for the witness to claim no possession of relevant business records. The witness sent this letter to federal prosecutors and IRS agents.

In addition to his prison sentence, U.S. District Judge Michael L. Brown ordered Hakim to serve three years of supervised release and pay $1,219,225.73 in restitution to the IRS, along with $4,490.52 in prosecution costs.

Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division made the announcement, highlighting the role of IRS Criminal Investigation in the case. Trial Attorneys Melissa S. Siskind and Colleen McCarthy of the Justice Department’s Tax Division prosecuted the case. Goldberg also thanked the U.S. Attorney’s Office for the Northern District of Georgia for their substantial assistance, along with Trial Attorney Christina Grimes and former Trial Attorneys Jeffrey Bender and Kathryn Carpenter of the Tax Division for their earlier work on the case.

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This article, "Georgia Precious Metals Dealer Sentenced to 4 Years for Tax Fraud" was first published on Small Business Trends

In the News: Grants of up to $25,000 Available Now

Grants are very helpful for small mom-and-pop businesses, providing financial support to help them thrive and compete. These funds can be used for different needs, such as upgrading equipment, expanding services, or improving marketing efforts. Grants alleviate financial strain, enabling owners to focus on quality and customer service. By reducing reliance on loans, grants help maintain cash flow and foster stability. Ultimately, grants empower small businesses to grow, innovate, and continue serving their communities effectively.

• Mom and Pop Businesses Can Apply for Thousands in Grant Funding

Mom-and-pop businesses are often an important part of the cities they serve. Even large markets like Miami and Dallas benefit from supporting their local merchants. There are more small business grant opportunities that help businesses in markets throughout the country.

Small Business News July 12, 2024

This week’s roundup includes more news related to small business regulation. The Supreme Court made another decision benefiting small businesses regarding Corner Post, Inc. v. Board of Governors of the Federal Reserve System. The case concerned the six-year statute of limitations to challenge an agency rule under the Administrative Procedure Act (APA). Speaking of regulations, the U.S. Treasury Department and the IRS have issued final regulations requiring brokers to report digital asset sales and exchanges. This regulation helps taxpayers file accurate tax returns for these transactions, which are already taxed under current law. For more small business news, here is the rest of the roundup.

Supreme Court Decision Empowers Small Businesses to Challenge Regulations

The National Federation of Independent Business (NFIB) celebrates the U.S. Supreme Court decision in Corner Post, Inc. v. Board of Governors of the Federal Reserve System. This case addresses a critical issue regarding when the six-year statute of limitations to challenge an agency rule under the Administrative Procedure Act (APA) begins.

Treasury and IRS Finalize Digital Asset Reporting Regulations

The U.S. Treasury Department and the IRS have issued final regulations requiring brokers to report digital asset sales and exchanges. This regulation helps taxpayers file accurate tax returns for these transactions, which are already taxed under current law. Over 44,000 public comments influenced the regulations, which will take effect in 2025.

eBay Advertising Unveils New Dashboard and Tools

eBay has introduced a new advertising experience to help sellers expand their businesses. This upgraded experience includes a redesigned Advertising dashboard, personalized insights, and intuitive campaign tools. The goal is to simplify advertising, increase listing visibility, and support continuous business growth.

NFIB June Jobs Report: Small Business Job Openings Decrease, Compensation Increases

According to the NFIB Monthly Jobs Report, small business owners continued to face challenges in hiring qualified employees for their open positions in June. NFIB Chief Economist Bill Dunkelberg highlighted that the number of small businesses with one or more job openings they cannot fill remains exceptionally high.

Business Owner Fined Heavily Over Teen Employment Program

An Iowa business owner is facing huge fines due to a teen employment program that the U.S. Department of Labor says violated youth labor laws. The business, Sugapeach Chicken and Fish Fry in North Liberty ran a program called Scholars Making Dollars. The program provided local kids with working experience and earnings while working around their school and parental schedules. However, the U.S.

Green Certifications Help Some Small Businesses Stand Out

Sustainability can be an effective way to make a business stand out in today’s market. While nearly any company can claim to be eco-friendly, green certifications can help businesses actually prove that they’re making positive changes. One such business that recently went through a rigorous certification process is Charlie & Echo, a small winery in San Diego.

Mark Cuban Cautions Entrepreneurs Against Following Their Dreams

“Follow your dreams” is a popular piece of advice for new entrepreneurs. But at least one prominent business owner thinks it’s not the best way to operate. Mark Cuban recently appeared on The Journal, of WSJ podcasts, where he discussed advice for other entrepreneurs, among other topics. One piece of advice he shared was, “Be prepared. It’s not about your dream.

Chain Pharmacy Closures Providing Opportunities for Independent Businesses

For years, independent pharmacies have struggled to compete with large chains. But now, a series of closures in some areas are opening up new opportunities for small businesses to thrive in this space again. For example, Rite Aid announced the closure of most of its locations in Michigan and Ohio last month, as part of the company’s Chapter 11 bankruptcy restructuring plan.

The Smallest Businesses Are Currently Facing the Largest Financial Struggles

Many small businesses are struggling right now. But it’s those with the fewest employees that are struggling the most. This realization comes from the Federal Reserve’s Small Business Credit Survey, which found that businesses with between one and four employees have seen larger declines in revenue than their larger counterparts.

How This Agritech Business Shifted from Startup to Small Business

When Matthew Sanford and Glen Watson founded their agritech company Agulus, their focus was on the startup phase. The company offered something that, at the time, was innovative within the industry – a streamlined digital marketplace that facilitated the purchase of various agriculture supplies and services.

Sophisticated Ghost Merchant Scheme Hits Chicago Business

Instances of fraud are on the rise, with U.S. businesses losing about 5 percent of their gross revenues to fraud. These schemes can be especially harmful to small businesses, and they’re getting increasingly sophisticated. For example, a small Chicago housing development business was recently charged more than $40,000 in fraudulent expenses.

Small Business Owner Retirements Hitting Rural American Especially Hard

An increasing number of small business owners are retiring. And in many communities – particularly rural ones – there aren’t enough young entrepreneurs looking to replace them. According to the 2022 U.S. Census Bureau Small Business Survey, about 52 percent of U.S. employer firms are owned by people over 55.

IRS Confirms Marijuana’s Status and Section 280E Tax Limitations

The Internal Revenue Service (IRS) has issued a reminder to taxpayers that marijuana remains classified as a Schedule I controlled substance under federal law. Consequently, businesses involved in the marijuana trade are subject to the limitations of Internal Revenue Code Section 280E.

Treasury and IRS Finalize Rules on Corporate Stock Repurchase Excise Tax

The Department of the Treasury and the Internal Revenue Service (IRS) have issued final regulations that provide guidance for taxpayers and tax professionals on reporting and paying the 1 percent excise tax on corporate stock repurchases. This new regulation looks to streamline the process for corporations and ensure compliance with the tax obligations imposed by recent legislation.

The Most Powerful Confidence Formula for Small Business Owners

When small business owners start a business, they have to have a lot of confidence; but as they come up against the market, customer acceptance, employees leaving, their confidence gets shaken. What is the best formula to get and keep your confidence? On The Small Business Radio Show this week, I talked with Regina Bonds who is known as the Confidence Coach.

Visa and Amazon Introduce Installment Plans for Canadian Shoppers

Visa has announced a new collaboration with Amazon, offering Canadian consumers more choices at checkout. Eligible RBC and Scotiabank credit cardholders shopping on Amazon.ca or the Amazon app can now select Installments enabled by Visa for qualifying purchases.

Chicago Business Owner Speaks Out After Multiple Acts of Vandalism

Crimes like vandalism can be devastating to a small business owner – especially when they seem to happen on an ongoing basis. That’s why one Chicago business owners is speaking out and trying to draw attention to the vandalism her business has faced. Whitney Cumbo is the owner of Prima, a beauty supply store in the Bridgeport area of Chicago.

Snapchat Adds New Personalization Features for All Users

Snapchat has announced several new features designed to make user accounts more personalized. These updates, many of which are available now, cater to the app’s growing base of Snapchat+ subscribers and general users. Snapchat+ is a subscription service offering exclusive and pre-release features that enhance user experience.

Small Businesses Consider Relocating Due to Rent Increases

Rent increases are harming small businesses across much of the U.S., according to a recent Bank of America Institute survey. And these struggles are forcing some small business owners to consider new locations. The latest data from Bank of American Institute, which was released in June, found that around 43 percent of small businesses in the U.S. are unable to fully pay their rent on time.

Small Business Owner, Unhoused Man Team Up for Business Success

Business owners don’t always follow conventional hiring practices. And for one landscaping business in the San Antonio, Texas area, that decision really paid off. Chad Huff is the owner of Chad’s Landscaping, which has been operating for more than 20 years. However, when the business was just starting, Huff had a difficult time finding reliable employees.

Image: Depositphotos

This article, "In the News: Grants of up to $25,000 Available Now" was first published on Small Business Trends

Lingpad X Gorgias: The Unbeatable Duo for Ecommerce Support Agents to Overcome Language Barriers

71% of customers want brands to reply to their queries in real-time. For 73% of customers, trust in companies today matters more than it did previously. Additionally, 64% of the support professionals believe AI helps them personalize and improve the service they provide.

Quick, personalized responses in the customer’s own language help you build trust and fruitful relationships with them.

“Trust is a crucial commodity of customer service. When customers communicate with your brand, irrespective of the language, they expect proactive support that builds on trust gradually.” — said Ronak Thakkar, Founder and CEO of Lingpad.

Lingpad is an AI-powered translation automation tool that integrates with Gorgias, a specialized customer service helpdesk for eCommerce stores to deliver seamless AI-powered CX.

Lingpad’s integration with Gorgias empowers your eCommerce support team to speak your customers’ language with the power of AI. The Lingpad app for Gorgias will localize incoming queries and enable your agents to reply to customers in their native language within seconds.

image: MART PRODUCTION

Lingpad Streamlines Your eCommerce Support Communication

The built-in automations in Lingpad allow you to communicate with customers in 120+ popular global languages. This helps bridge the communication gap between your customers and service reps and streamlines the eCommerce support interactions. Lingpad also empowers you with:

Auto Detection of Conversation Language: Lingpad will auto-detect the language of incoming support tickets inside Gorgias and instantly translate them into the agent’s preferred language.

Human-accurate AI Translation: Lingpad’s human-like AI translation allows you to respond to online shoppers’ queries in their native language. Your support reps can type a reply in their preferred language; Lingpad will translate and send the response to shoppers automatically.

Resolve Customer Queries Faster: Lingpad’s automated systems will translate to-and-fro messages with customers in real time. It only takes a few seconds to translate and reply to your customers, increasing first-contact resolution and improving ticket handling time.

Boost Agent Productivity: Eliminate manual translation and automate support ticket localization for higher efficiency. Lingpad also allows agents to add known languages in addition to their default language. This helps them to increase their productivity further as well as reduce translation costs.

Increase CSAT, NPS, LTV: The instant and automated nature of the support conversation translation will help increase customer satisfaction. Since customers receive responses in their native language, your CSAT, NPS, and LTV are likely to soar high.

Go Beyond with Unmatched Functionality and Flexibility 

The Lingpad integration for Gorgias goes beyond automation to offer simplicity, flexibility, and security. Being a high-rated multilingual customer support tool in G2, Lingpad offers an unmatched amalgamation of functionality and flexibility:

‘NO-CODE’ Seamless Integration: Connecting Lingpad with your Gorgias platform is effortlessly smooth and requires no coding or technical expertise. There’s no complex setup process, so you can start translating support communication in just a few clicks.

Pay-as-You-Grow Pricing: With pay-as-you-grow pricing, you pay only for the words you translate. There’s no upfront cost or hefty pricing you would have to pay, allowing you to scale your translation needs as and when required.

Save Time and Costs: Lingpad helps cut down on translation time and costs, not features. Save up to 50% on translation costs with Lingpad’s word-based pricing compared to character-based pricing of their competitors.

Preserve Cultural Nuances: With Lingpad, you can ensure that the cultural preferences of your customers’ native language are preserved during translation. You can add a glossary, select a translation tone, and contextualize the message to maintain the authenticity and cultural sensitivity of your customer interactions.

PII and Data Protection: Lingpad prioritizes the protection of customers’ sensitive and personally identifiable data with translation preview mode. It also follows the GDPR’s international data protection standards and complies with ISO 27001.

Automate Your Multilingual Support Communication 

Lingpad’s integration with Gorgias is set to revolutionize your multilingual customer communication. The built-in automations include instant language detection and translation of messages, making it easier for your monolingual support reps to communicate with customers in their native language.

With Lingpad by your side, you can meet customers’ expectations and even respond to them in real time in their native language. This enables Gorgias users to confidently expand into the global markets, build stronger relationships, and unlock the potential of multilingual customer communication.

Ready to revolutionize your multilingual customer support? Visit Lingpad and Gorgias today to learn more about the integration and how it can benefit your business.

About Lingpad 

Lingpad is an AI-powered customer support translation automation tool that simplifies multilingual communication for businesses. By leveraging cutting-edge AI technology, It empowers companies to deliver exceptional customer service in over 120 languages, boost agent productivity, and save considerable translation costs.

About Gorgias 

Gorgias is a specialized customer support and helpdesk platform empowering eCommerce brands with AI-powered CX. Trusted by 15000+ merchants worldwide, it enables eCommerce brands to deliver unified customer experience, save time and money, and offer great support with the power of AI.

image by Kampus Production

This article, "Lingpad X Gorgias: The Unbeatable Duo for Ecommerce Support Agents to Overcome Language Barriers" was first published on Small Business Trends