Str 581 Week 3
STR 581
Salt Consulting LLC’s Environmental Scan According to Business Dictionary, “environmental scanning is the careful monitoring of a firm’s internal and external environments for detecting early signs of opportunities and threats that may influence its current and future plans.” A major objective of Salt Consulting LLC is to predict accurately the influences of these internal and external factors. The long-term goal is to create a profitable organization that recognizes and predicts any assumptions of what the future will hold. In conducting an environmental scan, Salt Consulting LLC will explore factors in the industrial, societal, and political environments. The firm will study competition and the internal strengths and weaknesses of the firm. These studies will provide data to create sustainability and long-term growth for Salt Consulting LLC.
Remote Environment
Remote environment factors are vital to evaluating a business model. As a tax consulting business, SALT Consulting, LLC must focus on the nature and direction of the economy. Washington State is experiencing budget shortfalls. Arun Raha has forecast an additional reduction in forecasted revenue of $80 million for the current fiscal year ending in June (Bloomberg Businessweek, 2011). Because of the economic environment facing state governments, increasing tax collections, and providing state auditors more tools to attack transactions helps in revenue generation for the state. Washington State introduced and passed legislation in 2010 that imposes business and occupation taxes on corporate directors, a temporary increase in the business and occupation tax rate on services, expressly identified three types of transactions as tax avoidance. It is imposing additional penalties on tax avoidance transactions, imposing new treatment of options to purchase entities, expanded the liability for real estate excise tax, a partial repeal of an exemption for amounts received
Salt Consulting LLC’s Environmental Scan According to Business Dictionary, “environmental scanning is the careful monitoring of a firm’s internal and external environments for detecting early signs of opportunities and threats that may influence its current and future plans.” A major objective of Salt Consulting LLC is to predict accurately the influences of these internal and external factors. The long-term goal is to create a profitable organization that recognizes and predicts any assumptions of what the future will hold. In conducting an environmental scan, Salt Consulting LLC will explore factors in the industrial, societal, and political environments. The firm will study competition and the internal strengths and weaknesses of the firm. These studies will provide data to create sustainability and long-term growth for Salt Consulting LLC.
Remote Environment
Remote environment factors are vital to evaluating a business model. As a tax consulting business, SALT Consulting, LLC must focus on the nature and direction of the economy. Washington State is experiencing budget shortfalls. Arun Raha has forecast an additional reduction in forecasted revenue of $80 million for the current fiscal year ending in June (Bloomberg Businessweek, 2011). Because of the economic environment facing state governments, increasing tax collections, and providing state auditors more tools to attack transactions helps in revenue generation for the state. Washington State introduced and passed legislation in 2010 that imposes business and occupation taxes on corporate directors, a temporary increase in the business and occupation tax rate on services, expressly identified three types of transactions as tax avoidance. It is imposing additional penalties on tax avoidance transactions, imposing new treatment of options to purchase entities, expanded the liability for real estate excise tax, a partial repeal of an exemption for amounts received
References: LIMITED LIABILITY COMPANY, Retrieved from reference for business, encyclopedia of business, 2nd ed. Reduce Costs, Improve your Bottom-line, A-Salt group, LLC. Retrieved from www.asaltgroup.com Description of a Limited Liability Corporation. Retrieved from smallbusiness.chron.com/description-limited-liability-corporation-3703.html - United States Darrell Zahorsky, Limited Liability Company 101. Retrieved from sbinformation.about.com/cs/ownership1/a/LLC.htm Amy McDaniel. [pic]Benefits of the LLC - Limited Liability Company. Retrieved from ezinearticles.com Fisconti: Tax Consultancy Firm of the Year 2010 . Retrieved from www.corptax.org/images/publicaties/press-release.pdf Michael Plude. How to Choose the Best Tax Consulting Firm. Retrieved from ezinearticles.com