Taycor Financial Hires Newly Graduated Student from Loyola Marymount University

Taycor Financial, one of the nation’s leaders in equipment leasing and financing, announced today it has hired Quincy Felipe to the position of Lease Administrator/Transaction Coordinator.

Ms. Felipe recently graduated this May from Loyola Marymount University with a Bachelor of Business Administration degree in Finance. She started working as a Marketing Intern at Taycor Financial in November 2011 and has since then moved both upward and horizontally throughout the company’s departments. Over the years she found a home within the company and is now in a position where she can effectively utilize her skills and strive even further.

As each year passes, new graduates face greater challenges in starting a career and finding a full-time position straight out of college. With so many industries to choose from, most graduated students find themselves at a crossroad, unsure of which direction to go in next. Among these industries is equipment leasing and financing, which is very small in comparison to others and is often overlooked during the selection process of new careers. In a recent interview, Ms. Felipe describes her personal experience in deciding her next step in her career and how she found herself in such a small and specified industry.

“I’m 21-years-old and like most others in their early twenties, I’m still searching for my true calling. I was recently part of recruitment effort at recent career fairs and was able to talk to other recent and soon-to-be graduates about their future prospects. I realized that no one really knows exactly what they want to do at this age, and even if they do, there is still so much time and room for change. I embrace the unknown and am excited at the possibilities it holds. Equipment leasing isn’t where I thought I would end up, but it turned out to be exactly where I want to be at this point in my life.”

Although working in the equipment leasing and financing industry may not have been her dream when she was five years old, she is pleased to begin working full-time for a company that is she is already comfortable with and that supports her future growth and success.

“When choosing where to work after graduation, although knowledge and skill relevance are important, I think it all comes down to good company culture. Over the years, I’ve been able to move around the company and see where I can be most valuable. Management was flexible and understanding while I was in school and always very supportive of what I wanted to do. I am very happy at Taycor and thankful that I’ve been given the opportunity to work in an environment that will help me continue to learn and strive.”

Ms. Felipe applied for an internship position at Taycor Financial in November 2011 through her university’s online job posting website. She worked as an intern in its marketing department until the following summer. In June 2012, she was given the opportunity to switch departments and assumed the responsibilities of a Junior Credit Operations/Analyst position. She continued in this position until her recent promotion to Lease Administrator/Transaction Coordinator.

In the new position, Ms. Felipe works in the Credit and Funding Department where her responsibilities include processing applications, analyzing personal and business credit reports, bank statements, and tax returns prior to bank submissions, creating lease and finance agreement packages, communicating with lenders, customers, and vendors regarding transactions due for final funding, and other various administrative work. She started working full-time immediately after graduation and the Taycor Team is very pleased to have her on board. At Taycor Financial, company growth and employee growth are synonymous and it strives in creating the best opportunities and experiences possible.

“We have deep ties to helping grow the next generation of equipment leasing professionals both in the account executive vertical as well as operations,” said Founder and President, Robert Skibinski.

Over the past couple of years, Taycor Financial has made valiant efforts in changing some habits, as it is a 20-year-old company. The company began its renovation by introducing new methods, changing various operational procedures, and utilizing new technology to make certain tasks easier than the old-fashioned manual way. When Ms. Felipe first joined the Taycor Team, the company was just beginning to take on its shift. By the time of her arrival, she was able to witness these changes and be involved in the growing process.

“One of the best things about working at Taycor has been watching it shift from its older ways of doing things into a more innovative state. I was involved in decisions regarding overall company operations and helping evolve our back-end CRM system. I’ve seen the company grow immensely in the past recent years and it feels great to know that I was a part of that.”

Now that the company has updated its operating procedures to a greater level of ability and efficiency, it is ready to take the next step in growth and success by expanding its professional base. Ms. Felipe is one of a few new hires at Taycor Financial. As she begins her full-time employment working in credit operations, two new account executives have also recently joined the team, and the company plans to bring in a few more in the upcoming months.

About Taycor Financial

Taycor Financial was founded by Robert Skibinski in 1997 and has since then grown into one of the nation’s leading companies in the equipment leasing and financing industry. The company serves a wide variety of small and medium-sized businesses across the country. Over the years, Taycor Financial has refined its process, programs, and services to reach the ultimate goal of exceptional customer satisfaction. For more information about equipment leasing and financing, visit http://www.taycor.com.

2014 Changes in Section 179 Deduction

As one of America’s top equipment leasing and financing businesses, Taycor recognizes the opportunities that lie in Section 179 and provides small businesses with updated official details and easy to understand information regarding the tax law. There are some drastic changes coming up for the 2014 tax year and it’s important for taxpayers to be aware of these changes so they can better prepare.

What is Section 179?

Section 179 of the IRS tax code allows businesses to deduct the full purchase of qualifying equipment and/or software purchased or financed during the tax year. Meaning, if you buy or lease a piece of qualifying equipment, you can deduct the full purchase price from your gross income. It is an incentive created to encourage businesses to buy equipment and invest in themselves. Today, millions of small businesses are taking action and getting real benefits from Section 179.

The following lists some of the most important details for the 2014 changes.

  • 2014 Deduction Limit = $25,000 (New and Used Equipment, as well as Software).
  • 2014 Limit on Equipment Purchases = $200,000 (This is the maximum amount that can be spent on equipment before the deduction available to a company begins to reduce).
  • 2014 Bonus Depreciation = EXPIRED

In 2014 the Section 179 expensing limits are expected to restore to its original limits of $25,000 while investment limits fall to $200,000. This is a significant retreat in comparison to the $500,000 expensing limit and $2,000,000 investment limit that taxpayers had available between 2010 and 2013. In previous years, qualified real property was eligible for Section 179 expensing, however that rule currently has not been extended. Starting in 2014, qualified real property will not be eligible for Section 179 expensing.

In addition to the Section 179 expensing limits, bonus depreciation will expire as well. Taxpayers have expected it to expire in previous years and Congress has continued to extend it, but it looks like bonus depreciation is coming to an end.

Although these are drastic deductions in comparison to what Section 179 presented in 2013, businesses can still take advantage of the law’s benefits. All businesses that purchase, finance, or lease less than $200,000 in new or used business equipment during the 2014 tax year should qualify for the Section 179 Deduction.

How to take the Section 179 Deduction?

Section 179 Deduction is not automatic. If you are a small or medium-sized business owner who has purchased, financed, or leased equipment in 2014 and placed it into service during the year, then you need to elect to take the Section 179 Deduction to ensure that your business captures the available tax savings.

You can elect to take the deduction when you file your tax return for the year. To do this, you simply fill out Part 1 of IRS form 4562 and attach it to your tax return. The form is available for free at the website listed above or your tax preparer can easily take care of the form for you. As mentioned previously, most equipment and software is going to qualify for the Section 179 Deduction. You can verify your equipment by reviewing the list on the Section 179 website.

To get the deduction for 2013, you must act this year. Once December 31, 2013 passes, Section 179 can’t increase your 2013 profits anymore.

Does purchasing instead of leasing equipment create greater advantage of Section 179?

No, companies can lease equipment and still take advantage of the Section 179 Deduction. Leasing equipment or software with the Section 179 Deduction is a preferred strategy for many businesses because it can significantly help with both cash flow and profits. Inevitably, the amount you deduct will exceed your cash outlay for 2014 when you combine a properly structured Equipment Lease or Finance Agreement with a full Section 179 Deduction. You can deduct the full amount of equipment or software without paying the full amount this year. The amount saved in taxes can actually exceed the payments. In other words, the deduction will actually be more profitable.

How can Taycor help?

Taycor understands the importance of Section 179 and wants to help its businesses take advantage of the opportunities of 2013. Taycor is a fiscally sound and economically responsible partner for all your equipment leasing needs. The company specializes in all types of new or used equipment, vehicles, or software purchases from $5,000 up to $5,000,000. Go to http://www.taycor.com to use an instant calculator and estimate your tax savings on your 2014 equipment purchases.

Humanitarian Efforts in Oaxaca, Mexico Inspire New Taycor Financial: Project Community Program

Taycor Financial Project Community in Oaxaca Mexico

Having specialized in medical and dental equipment leasing, Taycor Financial has created many lifelong business relationships. Recently, the company was given the opportunity to partner with those same professionals in a rather heartwarming way.

LOS ANGELES, CA (NOV. 8, 2013) – Taycor Financial sponsored a humanitarian relief trip to Oaxaca, Mexico in late October to provide health services to those in need while training and mentoring local medical and dental students.

Taycor Financial Equipment LeasingTogether with dentists, doctors, and other medical professionals, the group ventured on a three-day endeavor that inspired a new program for the equipment leasing and financing company, called Taycor Financial: Project Community.

“We were approached by a group of professionals that we had previously provided medical equipment leasing for,” said Michael Hong, Director of Business Development at Taycor Financial. “They were going on a humanitarian relief effort to bring medical and dental care to a remote village in Mexico. From this partnership, the Taycor Financial: Project Community Program was born.”

Treatment teams consisted of three dentists, three doctors, and about 10 other support members. Each day had the same schedule. After a 6:00 a.m. wake-up call, the visiting professionals were greeted with breakfast cooked by volunteers. They spent the day treating patients with an hour-long lunch and resting period in between, followed by dinner at the end of the day. At sun down, it was time to close shop until the next morning.

Taycor Financial Equipment FinancingThe destination was approximately four hours up and down mountain ranges and along dirt roads from the Oaxaca airport. The visiting travelers stayed in an empty cement building and slept on straw mats, the most generous accommodations town officials could offer.

It was a struggle to transport the amount of people, equipment, and supplies that were needed for this three-day clinic. The students did not know each other prior but quickly became acquainted and worked well together to help this process along.

“Traveling to Mexico to treat patients isn’t something you’d expect when working in the medical and dental equipment financing side of things,” Hong said. “It felt great to bring a group of people together from different walks of life for the benefit of the village in Oaxaca. With Taycor Financial: Project Community, we hope to continue making a positive impact on those who do not have the luxuries that we are fortunate to have.”

In the process of providing health care services to the villagers, local students were given the opportunity to be mentored by doctors and dentists so that they, too, can continue to help contribute their medical and dental services.

If you would like to join Project Community, please contact community@taycor.com. Your partnership with Taycor Financial could make an incredible difference in the lives of others.

Taycor Financial Building CommunityAbout Taycor Financial

Founded in 1997 with offices in Los Angeles, Calif. and Boston, Mass., Taycor Financial has joined the ranks of America’s top businesses, establishing itself as one of the premier equipment financing companies in the United States. Taycor is also one of the most rapidly growing; having made the “Inc. 500” list of America’s fastest growing private companies. For more information on equipment leasing or financing, to get an instant quote or explore career opportunities, visit www.taycor.com or call (310) 568-9900.

Interview Highlight: Yael Serena, International Internship Program

Taycor Financial is a leading service provider in the equipment financing and leasing industry. In order to provide customers with the best programs, rates, and overall experience satisfaction, Taycor Financial understands the importance of having a strong and supportive team of leasing professionals that work together to fulfill these goals. Whether hiring a new Senior Account Executive or a Summer College Intern, Taycor Financial ensures that every employee is a perfect fit.

Taycor Financial recently hired a handful of interns for its new International Internship Program. Yael Serena is one of the new international interns and this was her interview.

PERSONAL

Describe yourself in a few words.

My name is Yael, I am 23 years old, and I am from Barcelona, Spain. After finishing my studies I was determined to gain international work experience in one of the most developed countries in the world so I came to Los Angeles.  Currently I am taking part in a one-year international business internship program with Taycor Financial.

Why did you decide to come to United States instead of other countries?

I came to the United States two years ago as an exchange student and I fell in love with the American lifestyle and its people. I have always admired the American mindset that anything is possible if you work hard for it. Furthermore, I wanted to get hands-on experience of American business practices.

How was the transition from college to work life?

When I graduated from college it was difficult for me to decide which field I wanted to set my focus on. I envisioned my career in management but I was not sure if I wanted to pursue a marketing or finance oriented career. During the transition period I had some time to mull over all of my options and eventually decided to focus on marketing since it is more consumer-orientated.

What do you like to do in your free time in Los Angeles?

I have always loved photography but I never really got seriously into it. I recently got my first DSLR camera and I am now taking the time to learn digital photography on my own. It is not an easy task since my camera has a multitude of different settings that I need to understand in order to shoot in manual mode. In the meantime, I also try to sharpen my skills in post-processing using Photoshop – one of the most prestigious photo editing pieces of software on the market.

In addition to photography, I also like to search for delicious recipes and try to cook them in my own way. I am getting very good at cooking Spanish recipes now that my mom does not cook for me anymore. Every time I try a new recipe I take a picture with my camera and send it to my family to make them jealous!

Where was the most beautiful place in Los Angeles that you took a picture?

It might sound a little cliché, but I honestly think that the best place to take a picture here is at the beach. I am lucky to live so close to the ocean so I frequently grab my camera and practice my photography skills there.  One of the best shots I have taken so far has been the California sunset with a silhouette of a lifeguard standing in the background. I think it makes me so proud because it was the first time I used manual camera controls instead of the automatic mode.

What are some of the typical American things that you have experienced so far?

During my first weekend in the United States I took a 28-hour nationwide road trip from Minnesota to Los Angeles. This gave me the chance to drive through many cities and see the diversity of each state. I also got to attend a Dodgers game and enjoy one of the most popular nationwide sports! Even though I was not able to completely understand the rules of baseball, I had a lot of fun experiencing a part of the American culture.

BUSINESS/EDUCATION

What is your educational background?

I graduated from ESADE Business School in Barcelona with a Masters in Business Administration and a concentration in Finance. In addition, I studied International Marketing at The University of Illinois at Urbana-Champaign in 2011.

Why did you decide to do an internship at Taycor Financial?

The job opportunities for recent graduates in Spain were not very encouraging and it was hard to find a job that fit my interests. Doing an internship with an American company will provide me with a solid base to further develop my professional career for the future and gain international work experience. Taycor Financial was the best fit for me since I am interested in both Marketing and Finance. During my studies I took some leasing and finance courses, and this internship provided me with the opportunity to see how an equipment leasing company operates.

How did your previous internships prepare you to work at Taycor Financial?

My previous work experience at PepsiCo taught me the importance of teamwork as a way to accomplish a company’s goals. Furthermore, I learned how to manage many different projects at once and prioritize them by importance. Even though I did not work in an equipment leasing company prior to coming here, I believe the skills acquired by my previous internship plus my personal desire for growth will be a valuable contribution for Taycor.

How was the process of getting an internship in the United States?

It was not so easy to secure a job opportunity with a nationwide company in Los Angeles because there were strict regulations that I needed to abide by in order to get through. The process started with a placement agency that put me in contact with potential host companies which offered marketing positions. After accepting the internship with Taycor, I contacted a sponsor to start all the paperwork required to apply for the J-1 Visa at the Embassy. The final step was going through the U.S. Customs & Border Protection at the airport and an interview with an officer.

What is it special about the business culture at Taycor Financial?

The culture at Taycor is not what you would expect from a traditional equipment leasing company. People come to the office in informal casual clothes and the work atmosphere is more like what you would find in a start-up company. Everybody is very welcoming and supportive, and the company also organizes events to promote good working relationships such as pizza parties and rock climbing.

The big players in the equipment leasing industry usually have inflexible business models and a rigid way to operate; however, Taycor is always looking for new innovative ways to conduct business.

FUTURE

What do you expect at the end of this internship?

My goal is to create a solid platform for my future career and personal development. I believe this experience will allow me to stand out of the crowd once I return to Europe to find a permanent job. I am looking to gain a deeper understanding of the equipment leasing industry and improve my current knowledge on marketing techniques.

Where do you see yourself in five years from now?

I see myself working as a marketing associate with a nationwide firm that provides me with opportunities to work on advertising campaigns and international branding. Moreover, I would like to study an MBA in International Marketing to develop the critical knowledge and competencies in the analysis and solution of problems encountered in international marketing.

Would you like to settle down in the United States after the internship?

This country has some of the largest marketing companies in the world so it would be a great opportunity for me to start my career here. However, in the long-term perspective I would prefer to return to Europe to accomplish my professional goals.

Would you be interested in creating your own photography business someday?

I am just an amateur photographer trying to learn as much as I can about digital photography. I devote my free time to it because I feel peaceful when I am behind the camera capturing beauty and in addition, it allows me to be creative. At this moment I just see photography as a hobby of mine and I do not plan on making a living from it. However, who knows what the future holds for me.

 

 

Latest Beige Book Report Sparks Optimism

Regardless of the current stance of the economy, business people remain optimistic about the future. Consumers have defied the expectations of decreased spending and continue to make big purchases including cars, houses, and services. The Federal Reserve’s new Beige Book summary reflects conditions across the country and reported “modest to moderate” improvement since the last report in July.

The Beige Book is a report that is published about eight times per year. Each Federal Reserve Bank gathers information on current economic conditions through reports from banks, branches, business contacts, economists, market experts, and other related sources. The Beige Book summarizes all this information and an overall report is of the twelve districts is prepared. It evaluates consumerism in all areas including retail, tourism, manufacturing, real estate, construction, banking and financing, agriculture, technology services, transportations, and so on.

Here is what can be summarized from the latest Beige Book release on September 4, 2013.

  • Consumer spending rose significantly with strong demand for automobiles and other household goods.
  • Tourism and travel remained strong in most districts, however some noted challenges from bad weather.
  • Manufacturing activity expanded in most Districts, with many reporting increases in new orders, shipments, or production.
  • Residential real estate activity continued to strengthen at a moderate pace in most districts.
  • Lending activity was mixed. In most districts, credit quality improved while credit standards remained unchanged.
  • Agricultural conditions varied with weather patterns across the country. Some districts suffered from agricultural conditions deteriorating due to droughts.
  • Labor market conditions improved slightly, although several districts reported restrained hiring.

Although the report covers countless industries, this article focuses primarily on the reports in banking and finance.

In the banking and finance industries, it was most recently reported that loan demand plateaued or slightly decreased across all districts. On a positive note, while lending standards were largely unchanged, credit quality improved significantly. Asset quality also improved at banks in most locations and most lenders reported high competition for qualified borrowers. With consumer spending continuing at a steady pace, businesses keep high hopes for the future and expect loan demand to increase more rapidly. Although lending activity slightly weekend in the past couple months, businesses expect better economic conditions and stronger profit growth to come.

With the release of the Beige Book, Taycor Financial reflected on its recent experiences and compared expectations to those in the report. Overall, the results were similar, however the company keeps high hopes for the future. Taycor Financial has seen increased competition, as well as more flexible borrowing standards and higher approval rates in the recent months. More borrowing was taking place at the start of 2013 compared to what has been seen in previous years. Taycor Financial, like other finance companies, remain optimistic for the upcoming final quarter.

About Taycor Financial

Taycor Financial was first founded in 1997 by President and Founder, Robert Skibinski. Since its opening, the company has grown into a top competing firm in the equipment financing and leasing industry. Taycor Financial serves a wide array of small and medium-sized businesses in all industries across the nation. Over the years, Taycor Financial has refined its process, programs, and services to reach the ultimate goal of exceptional customer satisfaction.

Taycor Financial Remains Confident as Equipment Finance Trends Steadily Increase

Taycor Financial Monthly Confidence Index

The August 2013 MCI-EFI (Monthly Confidence Index for the Equipment Finance Industry) revealed that the confidence in the equipment finance market increased from July’s  index of 59.4 to 61 this past month. Even in the face of economic distress, optimism for the industry’s improvement continues on and participants remain assured that business conditions will progress, or at the least remain the same over the next few months.

In the midst of the MCI-EFI release, Taycor Financial conducted its own research and study on the matter. The company distributed a similar survey to its customer base asking about expectations in equipment finance for the future and found that its results differed slightly from the MCI-EFI. The main cause of the fluctuations in numbers between the two surveys is the obvious difference in respondent demographics. While the MCI-EFI covered all segments of the market including all banks, financial service and independent companies, Taycor focused on its lenders and customers it serves, particularly businesses in the medical, manufacturing, and IT industries to name only a few. (For an extended list of industries that Taycor used for their study, visit http://www.taycorfinancial.com). Although percentages differed from the MCI-EFI survey, the end results for both surveys turned out to be the same. Both surveys showed an increase in optimism for the equipment finance industry’s progress in the future.

Below is a brief summary of the August 2013 MCI-EFI Survey Results:

  • Assessment of business conditions over the next 4 months:
    • 32.4% believe conditions will improve (25% in July)
    • 67.6% believe business conditions will remain the same (71.9% in July)
    • No one believes business conditions will worsen (3.1% in July)
  • Assessment of demand for leases and loans to fund capital expenditures over the next 4 months:
    • 23.5% believe demand will increase (15.6% in July)
    • 76.5% believe demand will remain the same (81.3% in July)
    • No one believes demand will decline (3.1% in July)
  • Assessment of access to capital to fund equipment acquisitions over the next 4 months:
    • 20.6% expect more access to capital (21.9% in July)
    • 79.4% expect the same access to capital (unchanged in July)
    • No one expects less access to capital (unchanged in July)
  • Assessment of employment over the next 4 months:
    • 29.4% expect to hire more employees (25% in July)
    • 64.7% expect no change (68.8% in July)
    • 5.9% expect fewer employees (6.3% in July)
  • Evaluation of the current U.S. economy:
    • 91.2% evaluates the economy as fair (90.6% in July)
    • 8.8% evaluates the economy as poor (9.4% in July)
  • Assessment of U.S. economic conditions over the next 6 months:
    • 26.5% believe the economic conditions will get better (34.4% in July)
    • 70.6% believe the economic conditions will stay the same (62.5% in July)
    • 2.9% believe economic conditions will worsen (3.1% in July)
  • Assessment of spending on business development activities over the next 6 months:
    • 29.4% believe their spending will increase (31.3% in July)
    • 70.6% believe their spending will not change (68.8% in July)
    • No one believes there will be a decrease in spending (unchanged in July)

Regardless of the market segment represented, respondents have differing but improving points of view on the future outlook for the industry. Although Taycor Financial remains optimistic and customers seem to follow the same attitude, the company recognizes the increase in competition and the need to consistently raise the bar for credit worthiness and rates. Demand for equipment financing has remained very strong considering the current lack of economic growth and sources are more plentiful, however it seems too soon to tell how substantial sustained of a growth will occur. The overall outlook continues to remain positive so we’ll see what pans out in the final quarter.

About Taycor Financial

Founded in 1997, with offices in Los Angeles CA and Boston MA, Taycor Financial has joined the ranks of America’s top businesses, establishing itself as one of the premier equipment financing companies in the U.S. Taycor is also one of the most rapidly growing; having made the “Inc. 500” list of America’s fastest growing private companies. For more information on equipment leasing or financing, to get an Instant Quote, or explore career opportunities visit www.Taycor.com or call (800) 322-9738.

Taycor Financial is Expanding Its Sales Department

The sales department of any company is the catalyst for its success. Sales representatives have the first impression with clients and are responsible for keeping communication and building strong and lasting relationships. They develop new business daily and create and convey the value of the company’s services to potential customers.

With the importance of the sales department in mind, Taycor Financial recently hired a new Account Executive with advanced product knowledge and high motivation to contribute to the company’s rapid growth in business to business sales. Taycor Financial is a premier company within the industry dedicated to providing its businesses with the best customer satisfaction and services available. During the hiring process, Taycor Financial keeps these goals and mission in mind as driving standards in finding the best fit employees for the company. The company looks for employees who are highly motivated and driven by the financial reward of a sales career, fluid and effective communicators, problem solvers, and proactive in fully carrying out all responsibilities. In return, sales representatives learn industry proven sales prospecting techniques, closing strategies, account management skills, and product knowledge from an experience leasing professional. They gain experience in business to business sales, maintaining and managing a multi-stage pipeline, and familiarity in working within a CRM.

“We believe that your career at Taycor leaves you a better person than when you first walked through our doors. We strive to make a home for bright, extraordinary, innovative, dedicated, and community focused individuals.”

Since its first opening, Taycor Financial has been a nationwide leader in the equipment leasing and financing industry. Taycor Financial remains focused on the growth and well-being of its employees as well as the small and medium sized business community. The company provides an environment for each individual where talent, hard work, and dedication lead to a rewarding and dynamic career in business.

About the Company – Taycor Financial was founded in 1997 and has since established itself as one of America’s top businesses in the equipment leasing and financing industry. With offices in Los Angeles, CA and Boston, MA, Taycor Financial is dedicated to providing small and medium sized businesses with easy access to financing for growth through capital acquisition. Taycor Financial partners with equipment sellers to help them help their customers by providing easy financing options. Taycor Financial also partners directly with buyers by amplifying their purchasing ability in times of growth and expansion.

Taycor Financial Welcomes Its New International Interns

Last August, Taycor Financial proudly announced its partnership with the German American Chamber of Commerce California (GACC CA) a public charity organization. Over the course of summer 2012, Taycor Financial offered its first international internship program through the GACC CA, which in turn was a rewarding experience for all. The company is excited to start the program again in the upcoming months. International student arrivals began early last week and will continue in the upcoming weeks.

“The welcome at Taycor was very nice. All of the colleagues are very friendly and supportive which has made my transition into a new country much easier than expected. After only a few days, I already feel as though I’ve learned so much. I’m excited to for this next year and to see how Taycor can continue to help me grow” said Janine Bock, an international student from Germany.

Due to the program’s success last year, Taycor Financial has extended its program from only summer internship to a full year or more depending on how long each individual wishes to stay and take advantage of their learning opportunities. Taycor Financial has also partnered with other multiple international agencies similar to the GACC CA.

The GACC CA partners with a broad array of companies to focus on two primary programs, the business program and career program. These programs allow international undergraduate students and recent graduates the opportunity to travel abroad and gain valuable business experience.

Taycor Financial is proud to take its part in contributing to the growth, knowledge, and development of the next business generations. Not only do these types of partnerships allow for an increase in access to a wider variety of talent, marketing, and business services, but they also tighten the gap between unlike companies and distant countries. It helps break down international borders and broaden horizons for both the employer and employees. Taycor Financial remains excited for its interns and its future opportunities within its partnerships.

About Taycor Financial

Since founded in 1997 by President Bob Skibinski, Taycor Financial has arisen to a premier equipment leasing and financing company in the country. Over the years, the company has grown and renovated itself to success by proactively seeking out new approaches in value added partnership with equipment vendors in a broad array of industries including medical, printing, manufacturing, packaging, and industrial.

Taycor Financial Looks at the Glass Half-Full This Month

This week the Equipment Leasing and Financing Association (ELFA) and its non-profit affiliate, the Equipment Leasing and Financing Foundation released their results from surveys taken for the month of March.

ELFA reports economic activity including New Business Volume, Aging of Receivables, Net Investment at Risk, Average Losses, Credit Approval Ratios, and Total Number of Employees from 25 financial services and manufacturing companies, representing a cross section of the $725 billion equipment finance sector.

This past March, companies signed up for $6.8 billion in new loans, leases and lines of credit which is a 45 percent increase from February, however new business volume was flat compared to March 2012.

“The continued low interest rate environment promoted by the Federal Reserve together with relatively benign fundamentals in the broader economy bode well for businesses planning to expand and grow in the coming months and invest in capital equipment,” said William Sutton, ELFA Chief Executive.

While credit approvals increased 1 percent from February totaling to 78.4 percent, only 50 percent of participating organizations reported submitting more transactions for approval last month compared to the 53 percent in February. With the slight changes in the past few months, the April confidence index fell to 54 percent from the 58% last month reflecting industry participants’ concerns over the economy and the impact of federal policies on capital expenditure.

While some participants lose confidence, Taycor Financial remains optimistic for the upcoming months. With the passing of tax season the company understands the minor lull in business volume, however Taycor’s partnership with www.equipmentleasing.org and its member network raise high hopes for generating new business.

The combination of the strong development of Taycor’s Customer Finance Center and the continued low interest rates resulting in greater numbers of credit approvals brings a steady confidence in the equipment leasing and finance industry. While the Equipment Leasing and Finance Association’s index reflects Taycor’s recent business volume, the company remains optimistic for April and the months to follow.

About Taycor Financial

Founded in 1997, with offices in Los Angeles CA and Boston MA, Taycor Financial has joined the ranks of America’s top businesses, establishing itself as one of the premier equipment financing companies in the U.S. Taycor is also one of the most rapidly growing; having made the “Inc. 500” list of America’s fastest growing private companies. For more information on equipment leasing or financing, to get an Instant Quote, or explore career opportunities visit www.Taycor.com or call (800) 322-9738.

Taycor Financial Takes On Tax Time

Taycor Financial Equipment Leasing Tax AdvantagesIt’s that time of year again where the rain starts to fade, flowers begin to bloom, and taxes are due. As an equipment leasing company, Taycor Financial works with businesses and prospective customers who have tons of questions every day regarding their tax returns and how it affects their transaction. With the tax deadline coming up on Monday, Taycor took the time to consider some of the most frequently asked questions regarding taxes and provide answers to help ease taxpayers’ minds.

“I need more time! Can I get an extension?”

Yes, you can file for an extension. All you need is to fill out the IRS form 4868 and you can do it online. Doing this gives you until October 15th to file your taxes, however this is only an extension to send in your paperwork. If you think that you might owe money then you’ll need to approximate the amount and send it in by April 15th. At least 90% of your estimated tax liability has to be paid by that time and overestimating is always better than underestimating. If the IRS does not get paid what you owe them by April 15th then you will receive a .05% per month late-payment penalty on your outstanding tax bill. If you are getting a refund however, you do not need to worry. Also, if you do not file your paperwork by October 15th then you will receive a failure-to-pay penalty which is 5% per month of any taxes you owe.

“What do I do if I don’t have enough money to pay everything right now?”

One thing you should never do if finances are too tight is wait and do nothing. It is much better to reach out to the IRS and communicate your financial struggles rather than waiting for them to contact you for a default payment.

One option is a short term extension. You get 120 days and you’ll have to pay the late payment penalty plus interest. However if you need more time you can start an installment plan. If you owe less than $50,000 then you can do this online and you pay the same interest and penalty rates as people who get a short-term extension. There’s a one-time fee of $105 to set up the installment and a $52 fee if you choose to setup automatic debit from your account each month.

Another option is to pay with a credit card, however the interest on your credit card is significantly higher than what the IRS charges under a payment plan. There is also a fee charged by the companies the IRS uses to process credit card payments.

If none of these options work for you and you’re really struggling financially, then call the IRS and explain your situation. They are willing to work with you as long as you communicate with them.

“I’m a bit disorganized and didn’t keep track of my deductible purchases last year. What should I do?”

The IRS has tools to help give you an estimate, however you might be better off trying to reconstruct the spending that would qualify for tax breaks especially if you made big-ticket purchases. Rummage through files and track down any receipts, credit card statements, and bank statements you can find.

“It’s been at least a couple years since I last filed taxes. Is it impossible to catch up?”

If you didn’t file taxes are due a refund, you have a three-year statute of limitations to claim it. However, if you haven’t done taxes and owe money, it’s a bit different. The IRS can go back three years, but they can look back at what you made and what you should have been paying for six years if you underreported your income by 25% or more.

First, start with this year’s taxes and pay anything you owe. Then you can go back however many years and start with the first year you didn’t pay and work forward. If it’s been more than a couple years and you’re having trouble organizing everything, you might want to seek help from a tax professional to help you sort through your records.

“What should I do if I’m missing important documents required for filing taxes?”

First, try contacting the organization that issued you the form. Many forms can also be found online. If you are unable to get the document you need then the IRS form 4852 allows you to fill out to the best of your knowledge what’s on the missing document. If you cannot recall the information, then pay what you know you owe and file for an extension until you can get another copy of the missing document.

“Is it too late to include something I forgot if I already filed?”

You have up to three years to amend your tax return. The form you use is the 1040X. Amended returns take longer to process because the IRS looks at them more closely so expect to wait at least 6 weeks.

About Taycor Financial

Taycor Financial, a nationwide equipment leasing and financing company headquartered in Los Angeles, has built a reputation of innovation by proactively seeking out new approaches in value added partnership with equipment vendors in the medical, printing, packaging, industrial and manufacturing industries. The customer finance center was developed through the partnership with www.equipmentleasing.org and its member network.