Are you an emerging business owner in Philadelphia? Before you pay for your Commercial Business License, you may want to check out this resource:

What is Jump Start Philly? – Business Services

What is Jump Start Philly? – Business Services
Photo by David McBee on Pexels.com

Jump Start Philly is designed to attract new businesses and entrepreneurs that create jobs to Philadelphia by exempting them from paying the Net Profits Tax and the Business Income and Receipts Tax, formerly the Business Privilege Tax, during the first two years of operations. Additionally, fees will be waived for eligible new businesses for a variety of licenses and registrations, including the Commercial Activity License, formerly the Business Privilege License.

All businesses are still required to apply for applicable licenses, but eligible new businesses pay no fee. To qualify for this exemption, your business must meet certain requirements.

For qualifying new businesses, exempt license fees include:

  • Amusement license
  • Food establishment license
  • Sidewalk café license
  • Curb market license
  • Street vendor license
  • Sidewalk sales license
  • Center City vending license
  • Neighborhood vending license
  • Newsstand license
  • Handbill distribution license
  • Weights and measures registration
  • Waste collection and recycling licenses
  • Towing license
  • Auto repair shop license or permit
  • Hazardous chemical license or permit

To qualify as a “New Business” for these exemptions:

  • The business must be a “New Business.” A New Business is a business that was not subject to Philadelphia business taxes at any time during the five Tax Years prior to starting business activity within Philadelphia.
  • The New Business must file with the Department of Revenue a New Business Waiver Application. This application is wrapped into the online process of registering for the Business Income and Receipts Tax, and within the paper application for the Commercial Activity License.

To maintain “New Business” status:

  • The New Business must have at least three full-time employees, who are not family members and who work in Philadelphia at least 60% of the time, by the first 12 months of the business and continuously through the 18-month anniversary of becoming a new business, and
  • Have at least six full-time employees, who are not family members and who work in the City at least 60% of the time from the 18 month anniversary of the business continuously through to the 24-month anniversary of operations.
  • A family member is defined as: a parent, spouse, life partner, child, sibling or relative-in-law

Note: If the Department of Revenue finds that a taxpayer claiming the status of a New Business was not entitled to that status after the fact, the taxpayer shall be liable for any unpaid taxes, interest, fees and charges that would otherwise have been due.

Exclusions, the term “New Business” does not include:

  • A business affiliated with or sharing substantial ownership or control with a business that has filed a business privilege tax return
  • A business created through an ownership change of a business that has filed a business privilege tax return, including, but not limited to:
    • A merger, acquisition or reorganization
    • The transfer of an existing business to a person who maintains the same or substantially similar business
    • And the closing of an existing business and its subsequent reopening as the same or similar business
  • A business formed for the purpose of evading or avoiding payment of taxes or fees
  • A business primarily engaged in holding, selling, leasing, transferring, managing or developing real estate

Contact:

For Business Income and Receipts Tax information –
Department of Revenue:
Phone: 215-686-6600
Email

A Time to Recover

I’ve had to take some time to process all that has transpired this past week. The emotions, the traumatic videos, the grief, the worry and the racist actions and comments on social media all weigh heavy on me and my family. I am a black woman, the mother of a black son and daughter and George Floyd and Breonna Taylor’s murders are my worse nightmare. It is even more terrifying than a nightmare because the probability of it coming true is greater for my children than those who identify white in this country. We are not only tired of the racism and inequalities we experience on a regular basis, the numerous videos of police and random citizens disrespecting black bodies, but we’re tired of feeling that we have to walk around in a world, constantly on eggshells among people who do not cherish us.

So, I’m not here to only write a letter of solidarity, but also of appreciation for my clients who continue to support MT Austin and Associates. Whether you patronize this business specifically because it is a 100% woman and black owned company, or irregardless of that fact, I appreciate your patience this past week as I took time to just be with my family, to step away from the fear, the sadness, the trauma and the heaviness of it all to find some moments of peace. I love seeing the voice of people all over the world speaking out against the injustices and demanding change and I applaud every act of protest seen and unseen.

Crowds gathering in the middle of a town, one person in the middle is holding a sign that reads "Black Lives Matter"
Photo by Kelly Lacy

We appreciate you, and join you in the continued fight for a country that is safe for all of us. If you’re still looking for a cause to support, consider signing a petition to bring justice to Breonna Taylor or fund an organization that helps black men reach their full potential.

Stay tuned as we plan to offer a few of our more popular classes and financial wellness webinars for FREE in order to support our clients as you recover from the COVID19 pandemic. Please visit, like and get notifications from our RESTORATION STATION FACEBOOK PAGE to be the first to know about the dates and classes we’re offering.

Until the next newsletter, stay safe, practice physical distancing, wear your masks and practice radical self care!

As always, we’re here for you!

Many Happy Returns,

MTA

Equifax Data Breach Settlement: What You Should Know | Consumer Information

In September of 2017, Equifax announced a data breach that exposed the personal information of 147 million people. Under a settlement filed today, Equifax agreed to spend up to $425 million to help people affected by the data breach. If you were affected by the Equifax breach, you can’t file a claim just yet. That’s coming. But you can sign up for FTC email alerts about the settlement at ftc.gov/Equifax.

We like to keep our community informed. You can find more information about credit and money management on our Restoration Station Facebook page.

Read the entire article below:

https://www.consumer.ftc.gov/blog/2019/07/equifax-data-breach-settlement-what-you-should-know?utm_source=govdelivery

Money Management Seminar July 28th!

What good is a budget if you have not first uncovered the reasons behind your frustration and struggle with savings and spending?

Do you want to understand and change your money mindset?

Join M Tonita Austin, the Wealth Activator for a two part money management series at an intimate and judgement-free environment at our Media office.

ONLY 10 seats for this intimate, hands-on event.

In the first session Tonita will teach you holistic tools and rituals, meditations and through journal writing help you discover your money mindset. The goal is to help you understand personal blockages to abundance and wealth in all areas of your life.

The second session, two weeks later will provide you with practical tips and tools for money management and the opportunity to get answers to questions about your personal finances. In the two hour session you will:

  • learn new savings and spending habits
  • secret tips to balancing your budget and bank account,
  • understanding and restoring your credit
  • learn how to calculate your net worth
  • feel empowered and leave with tools to help you get on the road to financial stability and wellness
  • gain confidence and peace of mind around money


All attendees will receive a workbook for the second session and there is an option to pay in two installments. This is the only time this workshop will be offered at this price point.

I hope I get the opportunity to support you! 💙

Sign me up!

July Wealth Activator Workshops!

Happy July! MT Austin and Associates, LLC is offering a series of business and personal financial wellness workshops this month. The first is Budgets and Projections. As a business owner or Director of a non profit now is the time to start planning for a sustainable future. This is the only time this workshop will be offered at this price.

Please check out our page or calendar for more details

https://scheduletimewithMTAA.as.me/BBP

Introducing: The Badass Business Owners Bootcamp – May 19, 2019

Join me and fellow business owners in releasing the financial frustration of owning your own business. We will gather in an intimate setting, release judgement and fear and be empowered and educated! Come as you are and I will share my 18 years of CEO wisdom to help you with:
Confidence
Better choices
Smart decision making
Making a profit in your business

We respect the need to budget so we are announcing in plenty of time to save or request a payment plan.
Sunday May 19th will be a special day of wealth, wisdom, and empowerment. here’s the link for more information and to sign up.

I hope to see you there!

bit.ly/bbobootcamp

Find the event on Facebook:

https://www.facebook.com/events/792969611059648/?ti=as

No stress online budgeting webinar!

Get on track with your spending this year. Our no-stress three part household budgeting webinar is only $30 this month. Sign up now, lock in this introductory price and take it at your leisure .💙 👇🏿

SIGN UP HERE

Happy Financial Freedom Day!

Let today be your first step towards financial freedom! Announcing our FIRST Webinar for individuals offered by our financialliteracy division, The Restoration Station on July 22nd.

We understand you’re as busy as we are so we’re delivering the online lesson in three 25 minute sessions. Easily digestible, stepbystep instructions on how to set up your own household budget.
You will receive a separate electronic worksheet for you and any children in your household to apply the tools you will learn in the class. You will also be invited to the follow up Q&A on #Facebook and #instagram #live!

Sign up today to secure your spot!⤵️

bit.ly/housebudget101
..
This is the only time this class will be offered at the introductory price. Sign up and let us help you get on the train to financial freedom. I’ll see you at the station!💙 #thekeytowealth #firststeps to #financialhealth

Are you protecting your financial future?

#Financialwellness means purchasing a waterproof, fireproof chest to protect your important papers and computer backup in case of an emergency.

Are you prepared for a home fire or natural disaster?