Inc. 5000 Three Peat for LBA Haynes Strand!

LBA Haynes Strand has been named to its third consecutive Inc. 5000 list of America’s fastest growing companies!  Coming in at #1783 place on the list with a 209% 3 year growth rate, LBA Haynes Strand is ranked as the 14th fastest growing company in the Charlotte, NC area.

The list represents a unique look at the most successful companies within the American economy’s most dynamic segment— its independent small businesses. Companies such as Microsoft, Dell, Domino’s Pizza, Pandora, Timberland, LinkedIn, Yelp, Zillow, and many other well-known names gained their first national exposure as honorees of the Inc. 5000.

“LBA Haynes Strand is amazed by the support of our team, clients, and community that continue to help the growth of our firm,” says LBA Haynes Strand Co-Managing Member, John Bly. “We know how hard it is to be named to the Inc. 5000 list, and we are fortunate enough to make it for our 3rd straight year!  It is a true accomplishment that we are proud of.  We consult with our clients on all matters of growth and this recognition shows that we practice what we preach, as one of our core values is the growth of the firm and the team.”

The 2016 Inc. 5000, unveiled online at Inc.com and with the top 500 companies featured in the September issue of Inc. (available on newsstands August 23) is the most competitive crop in the list’s history. The average company on the list achieved a mind-boggling three-year growth of 433%. The Inc. 5000’s aggregate revenue is $200 billion, and the companies on the list collectively generated 640,000 jobs over the past three years, or about 8% of all jobs created in the entire economy during that period. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.

“The Inc. 5000 list stands out where it really counts,” says Inc. President and Editor-In-Chief Eric Schurenberg. “It honors real achievement by a founder or a team of them. No one makes the Inc. 5000 without building something great – usually from scratch. That’s one of the hardest things to do in business, as every company founder knows. But without it, free enterprise fails.”

The annual Inc. 5000 event honoring all the companies on the list will be held from October 18 through 20, in San Antonio, TX. Speakers include some of the greatest entrepreneurs of this and past generations, such as best-selling author and strategist Tony Robbins, SoulCycle co-founders Elizabeth Cutler and Julie Rice, Cornerstone OnDemand founder, president and CEO Adam Miller, Marvell Technology Group director and co-founder Weili Dai, and New Belgium Brewing co-founder and executive chair Kim Jordan.

Methodology

The 2016 Inc. 5000 is ranked according to percentage revenue growth when comparing 2012 to 2015. To qualify, companies must have been founded and generating revenue by March 31, 2012. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2015. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2012 is $100,000; the minimum for 2015 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.

Individual North Carolina Tax Law Changes – This May Affect You!

Tax laws are constantly evolving. Below you can find the most recent tax law change that will affect individual taxpayers in North Carolina:

The North Carolina 2016 Appropriations Act (H1030) was signed into law by the governor on July 14, 2016. While the majority of the Act is the state budget for the year there was one provision included that may affect your 2016 and 2017 individual tax returns.  The standard deduction amounts for 2016 and 2017 were increased by $1,000 for married individuals filing joint returns, $500 for single individuals and married individuals filling separate returns, and $800 for individuals filing as head of household.  So, if the standard deduction of $16,500 for married joint, $13,200 for head of household, or $8,250 for single and married separate is more than your itemized deductions consisting of medical expenses, real estate taxes, mortgage interest and charitable contributions in 2016 your tax may be reduced.

If you have questions, contact the LBA Haynes Strand team today for a no-cost consultation!