FROM WASHINGTON TO YOUR WORKPLACE PDF Free Download
1 / 100/100
100%
FROM WASHINGTON TO YOUR
WORKPLACE
Gene Marks
Strategies The Smartest Leaders Are Making To
Navigate And Grow in 2023 and 2024
True/False: In 1932 during prohibition, Winston
Churchill carried a doctor’s note to America
just so that he could drink whiskey.
TRUE!
= 10 shots!
True/False: Walmart is
the most followed
retailer on Instagram.
False
True/False: 10 percent of
Americans think that
chocolate milk comes from
brown cows.
FALSE.
(It’s 7
percent)
SOURCE: American Daily Producers Survey
Will There Be A Recession in 2023?
“I am feeling very good about an
economic "soft landing" and I think
you’d have to say we’re on a path
that looks exactly like that.”
Janet Yellen - September 2023
“Inflation is transitory.”
Janet Yellen - October 2021
“I did not have sexual relations with
that woman, Ms. Lewinsky.”
Bill Clinton - 1998
Conflicting Signs
Unemployment at 40 year low
Services industries growing
Restaurant sales are up
Housing prices remain elevated
Markets near all-time highs
Consumer spending at historic highs
Fitch threatens a ratings downgrade
Layoffs in tech, construction
Manufacturing contracting
Convention traffic down
Mortgage rates rising
Household wealth declining
Retailers warn of slowdown
Big banks reporting strong earnings
A Recession Will Hinge On Inflation,
Interest and Capital…
Since March
2020: 47%
Since March
2020: 64%
Since March
2020: 48%
Since March
2020: 29%
Since March 2020: 24%
Since March 2020: 32%
Since March 2020: 31%
Since March 2020: 36%
Since March 2020: 21%
Decrease 14% since
November 2022!!
TRUE OF FALSE: Core costs for
running your business are
significantly higher since COVID.
TRUE!
3.25% in March 2022
8.50% now
50% banks tightening
credit
40% banks tightening
credit card loans
Corporate loans falling
True or False:
The prime rate charged by banks is now at
8.5%
TRUE
True or False:
Credit availability is increasing for most
businesses.
FALSE
True/False: Up until 1915 it
was legal to mail a baby as
long as he/she was under 15
lbs.
FALSE
(THE BABY NEEDED TO BE
UNDER 11 LBS.)
TRUE/FALSE: YOU CAN MAKE A GREAT PONY-TAIL
FOR YOUR DAUGHTER BY USING A VACUUM
CLEANER
TRUE
True or False: The Cookie Monster’s
first name is Harry.
FALSE!
True or False: Once You See The
Cookie Monster In This Ancient
Engraving You Can’t NOT Stop Seeing
Him.
What Have We Learned
•The economy continues to show mixed signals, but growth is slowing.
•All companies are struggling with higher costs since COVID.
•High interest rates are translating into higher financing costs and tighter credit.
HOW DO WE NAVIGATE?
Be Tight About Your Cash
•Targeting price increases
•Shrinkflation
•Cutting product lines
•Forecasting
•Embrace Bidenomics
Follow The Money - $1.7 Trillion!
•2022 CHIPS Act: $280B investing in chip
manufacturing
•2022 Inflation Reduction Act: $391B for climate,
clean energy
•2021 Infrastructure Act: $1T for critical infrastructure
CHIPS ACT - $280B
Top 10 US Semiconductor Manufacturers
Intel Corp.
L3Harris Technologies, Inc.
ISR Systems
Qualcomm, Inc.
Amkor Technology, Inc.
NXP Semiconductors USA, Inc.
Samsung Austin Semiconductor, LLC
Enphase Energy
Advanced Micro Devices, Inc.
Analog Devices, Inc.
•Building construction
•Roads
•Utility connectors
•General construction
•Pilings, Boring, Foundations
•Steel casings
•Pipe piles
•Fabricated pipes
•PVC Pipes
•Valves, Spears
https://www.chipsact.com
https://www.chips.gov
INFLATION REDUCTION ACT - $391B
INFLATION REDUCTION ACT - $391B
•Panasonic - battery factories in Nevada and Kansas
•First Solar - solar panels manufacturing
•Exxon Mobile - investing $7b hydrogen, biofuels
capture
•Ford - building BlueOval battery park in Michigan
•Enel - solar cell and panel manufacturing facility in
Michigan
•Canoo - expansion of EV cars manufacturing in OKC
•Zinc8 - new battery manufacturing in New York State
•Utility construction
•Building construction
•Roads and bridges
•General construction
•Pilings, Boring, Foundations
•Geothermal products
•Steel casings
•Pipe piles
•Fabricated pipes
•PVC Pipes
•Valves, Spears
INFLATION REDUCTION ACT - $391B
•EPA's Inflation Reduction Act Web
Area
https://www.epa.gov/inflation-
reduction-act
•The White House Inflation Reduction
Act Guidebook
https://www.whitehouse.gov/cleanene
rgy/inflation-reduction-act-guidebook/
•The IRS's Inflation Reduction Act Web Area
https://www.irs.gov/inflation-reduction-act-of-
2022
•Database of State Incentives for Renewable &
Efficiency (DSIRE)'s database of all US
renewable energy incentives and programs
https://programs.dsireusa.org/system/program
Example:
Advanced Industrial Facilities Deployment Program
Department of Energy
Office of Manufacturing and Energy Supply Chains, Office of Clean
Energy Demonstrations
$5,812,000,000
INFRASTRUCTURE ACT – $1T
•Funding opportunities
https://www.whitehouse.gov/build/resources/nofos-to-
know/
•Federal Highway Administration - grant programs
https://www.fhwa.dot.gov/bipartisan-infrastructure-
law/grant_programs.cfm
•EPA Green Infrastructure Funding Opportunities
https://www.epa.gov/green-infrastructure/green-
infrastructure-funding-opportunities
•Department of Energy BIL Programs and Funding
Opportunities Page https://www.energy.gov/bipartisan-
infrastructure-law-programs
•Department of Commerce Funding Opportunities
https://www.commerce.gov/news/fact-
sheets/2021/11/fact-sheet-department-commerces-use-
bipartisan-infrastructure-deal-funding
•Utility construction
•Building construction
•Roads and bridges
•General construction
•Pilings, Boring, Foundations
•Steel casings
•Pipe piles
•Fabricated pipes
•PVC Pipes
•Valves, Spears
Other Key Resources
Small Business Development Centers
https://americassbdc.org/
Small Business Administration
https://www.sba.gov/local-assistance/federal-contracting-
assistance
U.S. Department of Commerce
State Department of Commerce
Be Tight About Your Cash
•Targeting price increases
•Shrinkflation
•Cutting product lines
•Forecasting
•Embrace Bidenomics
•Diversify Cash: Buy Treasuries (Series I bonds and TIPS), Ladder CDs
•Challenge Your Banker: IntraFi.com, visbanking.com
•Invest in technology
Invest In Tech
•Artificial Intelligence
CHATGPT
Blogs
Legal Forms/Questions
Market Research
Web Chats
Website/SEO
HR Policies/Questions
Tax Questions
Math
Translations
MICROSOFT COPILOT
GOOGLE BARD/DUET
•Email/Word suggestions
Spreadsheet assistance
Slides creation
Meetings
Invest in AI
Invest In Tech
•Artificial Intelligence
•CRM – Salesforce, Dynamics, Zoho
•Payables – Bill.com, Ramp
•HR – Gusto, Paychex, Bamboo
Make Tax Moves In September, Not December
•Leverage the Work Opportunity Tax Credit
•Buy capital assets before depreciation deductions expire
•Consider a sale/leaseback
•Do a few wash sales
True/False: The American Institute of
CPAs provides free accommodations
for any homeless accountant.
FALSE…They live in “Tax
Shelters.”
Make Tax Moves In September, Not December
•Leverage the Work Opportunity Tax Credit
•Buy capital assets before depreciation deductions expire
•Consider a sale/leaseback
•Do a few wash sales
•Move money to a Roth IRA/401K
Make Tax Moves In September, Not December
•Leverage The Work Opportunity Tax Credit
•Buy capital assets before depreciation deductions expire
•Consider a sale/leaseback
•Do a few wash sales
•Move money to a Roth IRA/401K
True or False:
Microsoft Copilot can
help you attend two
meetings at the same
time.
TRUE
True or False:
Depreciation deductions will decline in
2024.
TRUE
True or False:
Roth contributions are
after tax, but grow tax
free.
TRUE
True or False:
There is
nothing more
touching than
the loving
relationship
between
sisters.
TRUE/FALSE
In one of Yoko Ono's early
performance pieces, she sat
alone on a stage, dressed in
her best suit with a pair of
scissors in front of her and
audience members would cut
off pieces of her clothing until
she ended the performance.
TRUE
True/False:
Maximus’ uprising in
180AD was almost
thwarted by an air
attack.
True
TRUE OR
FALSE:
THERE IS
A DOG
HIDING IN
THIS LEAF
PILE.
TRUE!!
-
TRUE OR
FALSE:
There’s a cat
hanging in
this tree
What Have We Learned
•The economy continues to show mixed signals, but growth is slowing.
•All companies are struggling with higher costs since COVID.
•High interest rates are translating into higher financing costs and tighter credit
•Leveraging Bidenomics and moving your money to CDs and T-Bills are among
smart moves in a higher cost/higher interest environment.
•AI, financial and HR tools are among the hot tech investments being made by
forward-thinking companies.
•Wash sales, sale-leasebacks, Roth IRAs and accelerating depreciation are among
the tax moves you can make right now to significantly cut your 2023 tax bill.
Meanwhile, in Washington……
Corporate Transparency Act
•Effective Jan 1, 2024, Reporting by January 1, 2025
•Disclose certain beneficial ownership information and other
data to the Financial Crimes Enforcement Network (FinCEN),
a bureau of the U.S. Department of the Treasury.
•Applies to domestic corporations, partnerships, LLCs
•Beneficial Owner: 25% or exercises “substantial control”
Report:
•Legal name, any DBAs, street address, jurisdiction of
formation, Taxpayer Identification Number.
•Beneficial Owners - including name, date of birth, residential
address, passport or driver’s license number)
Brace For Workplace Regulations…
Increasing pay
Minimum wages rising
Julie Su
Alaska
California
Connecticut
Delaware
Florida
Hawaii
Maine
Maryland
Massachusetts
Minnesota
Missouri
Montana
Nebraska
Nevada
New Jersey
New York
New Mexico
Rhode Island
Ohio
Oregon
Washington
District of Columbia
GOING UP IN 2024
Brace For Workplace Regulations
Increasing pay
Minimum wages rising
Mandated Time Off
Mandated Sick Time
Arizona
California
Berkeley CA
Emeryvile CA
Los Angeles CA
Oakland CA
San Diego CA
San Francisco CA
Santa Monica CA
Colorado
Connecticut
Washington DC
Chicago IL
Cook County IL
Maine
Maryland
Montgomery County MD
Massachusetts
Michigan
Duluth MN
Minneapolis MN
Saint Paul MN
Nevada
New Jersey
New Mexico
New York
New York City, NY
Westchester County NY
Bernalillo County, NM
Oregon
Allegheny Count, PA
Philadelphia PA
Pittsburgh PA
Rhode Island
Vermont
Washington
Seattle WA
Tacoma WA
Mandated Annual Vacations
Illinois
Nevada
Maine
Brace For Workplace Regulations
Increasing pay
Minimum wages rising
Mandated Time Off
More unionization activity allowed (NLRB)
Severance pay cannot be contingent (NLRB)
EEOC increasing activity (EEOC)
Non-compete rules going away (FTC)
Increased OSHA activity and fines (OSHA)
Brace For Workplace Regulations
Increasing pay
Minimum wages rising
Mandated Time Off
More unionization activity allowed (NLRB)
Severance pay cannot be contingent (NLRB)
EEOC increasing activity (EEOC)
Non-compete rules going away (FTC)
Increased OSHA activity and fines (OSHA)
New overtime rules proposed (DOL)
Pay transparency rules likely expanding (DOL)
New worker classification rules being finalized (DOL)
True or False:
Employees can now
report any claims of
discrimination or
harassment directly to
the EEOC on their
website.
TRUE
True or False:
New rules may force
you to reclassify your
independent
contractors to
employees.
TRUE
True/False: A 2022 study from
the New England Journal of
Medicine found that 4
alcoholic drinks a day can
increase your lifespan by up
to 10 years.
TRUE!!JUST KIDDING - NICE TRY!
True or False: The Cookie Monster’s
first name is Harry.
FALSE.
IT’S SID!
Hiring – Hot Benefits for 2024
•Mental Health (BetterUp, TalkSpace)
•Same Day Pay (DailyPay)
THE BIG 3:
•Healthcare:
HSA, HRA, Captive, Contributions
•Retirement – Secure 2.0
-Gov’t matches your match
-You can match student loans
-More part timer participation
-$1,000 annual emergency wdraws
•Flexibility:
Unlimited PTO, 4 Day Workweek
Remote Working
Hiring – Hot Benefits for 2024
•Mental Health (BetterUp, TalkSpace)
•Same Day Pay (DailyPay)
•Consider an ESOP!
(employeeownershipequals.org)
THE BIG 3:
•Healthcare:
HSA, HRA, Captive, Contributions
•Retirement – Secure 2.0
-Gov’t matches your match
-You can match student loans
-More part timer participation
-$1,000 annual emergency wdraws
•Flexibility:
Unlimited PTO, 4 Day Workweek
Remote Working
True or False:
Same Day fees cost
$10K per year.
FALSE
True or False:
Mental health benefits
should be reduced in
2024.
FALSE
True or False:
ESOPS require you to sell
100% of your company.
FALSE
True or False: According to
the Journal of Microbiology,
80% of fast food drink
dispensers contain fecal
matter.
FALSE
IT’S ONLY
50%
True or False: Viagra makes flowers stand up
straight.
TRUE!
What Have We Learned
•The economy continues to show mixed signals, but growth is slowing.
•All companies are struggling with higher costs since COVID.
•High interest rates are translating into higher financing costs and tighter credit
•Leveraging Bidenomics and moving your money to CDs and T-Bills are among
smart moves in a higher cost/higher interest environment.
•AI, financial and HR tools are among the hot tech investments being made by
forward-thinking companies.
•Wash sales, sale-leasebacks, Roth IRAs and accelerating depreciation are among
the tax moves you can make right now to significantly cut your 2023 tax bill.
What Have We Learned
•The DOL, OSHA, FTC, EEOC and many states regulatory agencies are enacting pro-
worker regulations this year. Be prepared.
•Healthcare, retirement, flexibility, hiring bonuses and same day pay are among the
hot benefits smart leaders are using to attract and retain talent in 2023.
•An ESOP is a great way to exit your business…and a great employee benefit.
True or False:
You are MUCH smarter than you were just
60 minutes ago.
GENE@MARKSGROUP.NET
GENEMARKS.MEDIUM.COM
