Life is all about options. In order to find the sweet spot for each project, our team provides good, better, and best options for you to choose from, as well as a recommendation based on our extensive experience. Let’s say you’re looking to integrate the clean aesthetic of white oak into your space. A good option would be to print a white oak pattern onto an inexpensive material like paper or sintra. This gives you the look, without breaking the bank. A better option would be to use a wood laminate, then mount it to a less expensive material, like MDF or styrene. The best option then would be to produce out of actual white oak.What other supplier in your arsenal can move fluidly between graphics, design, materials, wood, and metal? When you work with TGS Elevate, all options are on the table. That’s what we mean by materials agnostic, and you’re supported with white glove service every step of the way. Are you ready to up your game?
Tag: Minority-Owned Business
Meet Jeff Lo, COO of TGS Elevate
If you have ever spoken with Jeff Lo you know how passionate he is about TGS Elevate. He provides a the overall company vision and still pays attention to the details that help TGSE outshine their competition. How did Jeff get to where he is today? Here is his professional bio with a little background…
Jeff is the owner and COO of TGS Elevate, the premier provider of print, store fixture manufacturing, promotional products, and global sourcing solutions to the retail industry. As leader of a mature company founded in 1996 that supports Fortune 500 companies, Jeff’s daily focus is business development, while he also leads the sales, production, and administrative departments.
Self-described as a hammer looking for a nail, Jeff’s diverse background has provided all the know-how to run a small business. Initially attending UC Davis on the electrical engineering track, Jeff later switched to pre-law before ultimately graduating with a pre-med Bachelor’s degree in Biological Science. Out of school, Jeff pivoted away from medicine and worked for a registered investment advisor before transitioning to a professional services company in Marin County where he soon led an eight-person accounting team.
Hired by TGS Elevate in 2012 to prepare the company for sale, Jeff developed and implemented best practices for hiring, managing, accounting, payroll, finance, sales, and marketing. Along the way, Jeff led all day-to-day functions of the company, and realized an average of 20% year over year gross revenue growth and 15% bottom line profitability growth for three consecutive years before purchasing the company outright in 2015. Jeff lives in San Anselmo, California with his wife and two kids and enjoys golf, photography, traveling, and motorsports.
Five Fun Facts about Jeff:
- He has three sisters, no brothers
- Has impeccable handwriting
- He is an Eagle Scout with the Boy Scouts of America
- Has extensive high performance driving experience
- Willing to talk about food, any time, anywhere
You Might Be Eligible for a Tax Credit When You Hire TGS Elevate
TGS Elevate started as a certified Woman-Owned Enterprise (WBE) in 1996, and in 2016 also became a certified Minority-Owned Enterprise (MBE). When you work with us, you satisfy supplier diversity requirements, which entitles you to receive federal and/or state tax credits. On top of that, our design and prototyping work is considered as R&D, which qualifies your company for additional tax credits! Read on for more details.
What is a Minority-Owned Business?
According to the National Minority Supplier Development Council (NMSDC), in the U.S., a minority business enterprise is defined as a company that is at least 51% owned and operated by an individual U.S. citizen that is at least 25% African American, Asian, Hispanic, or Native American, or in the case of a publicly owned business, at least 51% of the stock is owned by one or more such individuals. Companies must go through a long and rigorous process to become a certified MBE member. This leaves out any guessing when choosing a business to hire. A business with a MBE certificate has been well vetted, is trustworthy, and is highly skilled and valued.
Working with a minority owned business allows you to claim tax credits with federal and state agencies. In addition, design and prototyping is considered research and development, which qualifies entitled parties for an additional tax credit. Federal and state laws differ, so contacting your tax professional is the best way to see what you qualify for.
To learn more, read this article.
Why These are Seldom Used
Larger companies, who are eligible for these tax credits but seldom ever redeem them, commonly have different departments between new vendor intake, budget approval, and tax preparation. This leads to a lot of opportunities to lose the message in translation. It’s also common that any savings that could come from a tax credit are provided under a separate GL or cost center from the person making the purchase, so there is no direct incentive to pass the word along and take the free money.
For example, let’s say marketing approves a new fixture rollout. After going through design iterations, prototypes, shipping and creative time, directly with the supplier, the final invoice passed to the accounting department does not have the R&D cost itemized separately. In turn, accounting does not have enough specific information to pass along to the tax department. So, the cycle breaks.
Why Does it Matter?
Diversity is better for communities and corporations alike. In today’s changing world, being a company that is aware and proactive about inclusivity is the next step. If you don’t have an internal supplier diversity program, here are some reasons from the Harvard Business Review of why you should consider it.
Hop to It!
When you work with us, not only are you satisfying those requirements but also you are contributing to a social initiative that promotes equality and diversity. Reach out to us today about your next project!