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asowah's blog


6 Things You Need to Know About Estimated Taxes

Blogged By: 
IRS

Estimated Taxes CalculatorEstimated tax is the method used to pay tax on income that is not subject to withholding. This includes income from self-employment, interest, dividends, alimony, rent, gains from the sale of assets, prizes and awards. You also may have to pay estimated tax if the amount of income tax being withheld from your salary, pension, or other income is not enough.

Estimated tax is used to pay income tax and self-employment tax, as well as other taxes and amounts reported on your tax return. If you do not pay enough through withholding or estimated tax payments, you may be charged a penalty. If you do not pay enough by the due date of each payment period you may be charged a penalty even if you are due a refund when you file your tax return.

Facts You Should Know About Online Representation and Certification (ORCA)

Blogged By: 
Angela Washington

OCRA Screen ShotORCA is an e-Government initiative that was designed by the Integrated Acquisition Environment (IAE) to replace the paper based Representations and Certifications (Reps and Certs) process.

Purpose: Client Research

Who should register in OCRA?

  • A respondent to a government solicitation where a CCR registration is required

What is required to register?

  • An active CCR registration
  • A Marketing Partner ID (MPIN) from the Active CCR registration (a personal pin that allows CCR registrants to access other government applications such as Grants.gov and FBO.gov)
  • Annual registration update is required

Who can access OCRA?

What is the 8(a) Business Development Program?

Blogged By: 
MBDA

8a Business Development Program CertificationThe 8(a) Business Development Program is a business assistance program for small disadvantaged businesses. The 8(a) Program offers a broad scope of assistance to firms that are owned and controlled at least 51% by socially and economically disadvantaged individuals.

The 8(a) Program is an essential instrument for helping socially and economically disadvantaged entrepreneurs gain access to the economic mainstream of American society. The programs helps thousands of aspiring entrepreneurs to gain a foothold in government contracting.

Guide to Doing Business in South Korea

Blogged By: 
MBDA

South KoreaThe long anticipated Korea-U.S. Free Trade Agreement (KORUS-FTA) was implemented on March 15, 2012 becoming our nation’s largest FTA since NAFTA. The agreement has the potential to increase U.S. exports to Korea by approximately USD 10-12 billion, and it will be especially beneficial for U.S. SMEs. In 2009, nearly 18,000 SMEs exported some USD 8.4 billion worth of merchandise to Korea.

Total 2011 U.S.-Korea trade exceeded USD 100 billion for the first time ever. U.S. exports reached an all time high of USD 43.505 billion. U.S. exports increased 12% over 2010 levels.

Korea is the United States’ seventh largest trading partner. The U.S. is the third largest exporter to Korea with a 9 percent market share. Key competitors include China with 16.8 percent, Japan with 15.3 percent, and the EU’s 27 nations with 10%. With the EU having already implemented its FTA with Korea, U.S. firms will now again be in a stronger competitive situation following KORUS implementation. (China’s trade reflects significant re-export activity.)

U.S.-Korea Trade Agreement Provides Opportunities for U.S. Export Businesses

Blogged By: 
MBDA

US Korea Trade AgreementThe United States-Korea Trade Agreement (KORUS Agreement) enters into effect today, reducing tariffs on almost all U.S. industrial exports to South Korea and making it easier for U.S. exporters to successfully compete in the Korean market.

With the implementation of the KORUS Agreement, tariffs will immediately be eliminated on almost 80 percent of U.S. exports to Korea.

Did you know...

MBDA Minority Business Centers helped clients secure contracts totaling $6.9 billion during the last 5 fiscal years.
Graph for Dollar Value of Contracts

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