Although convenience stores represent more than 45% of U.S. retailers participating in SNAP, they account for less than 6% of the redemptions. By Mark Battersby, Contributing Editor President Trump on Dec. 20, 2018 signed into law the Agriculture and Nutrition Act of 2018, also known as the Farm Bill. A portion of the expansive bill…
Preparing for Estate Planning
Arranging to hand over the business and establishing a sound succession plan is beneficial for most c-store business owners. By Mark Battersby, Contributing Editor For those who own a closely-held or family convenience store business, retirement can be anticipated and expected, or the unexpected result of illness or other events. In addition to ensuring there…
How to Finance C-Store Upgrades and Acquisitions
For retailers looking to finance c-store upgrades, offsetting the cost of new fixtures, equipment or a remodeled store can be done more easily because of revised rules allowing for bigger and faster write-offs. By Mark Battersby, Contributing Editor Last December’s Tax Cuts and Jobs Act (TCJA) not only slashed tax rates, it allowed many within…
Tax Reform’s Impact on Customers
Because convenience stores bank on America’s disposable income for much of its profits, the effect of tax reform could be significant. By Mark Battersby, Contributing Editor The passage of the massive Tax Cuts and Jobs Act (TCJA) received a mix of publicity. Even now, some groups claim any tax savings are illusionary, with the middle-class…
Tying Up the 2016 Tax Season?
Business tax rules are never simple, but there are things to know that may make the process less painful and costly. By Mark Battersby, Contributing Editor Convenience store retailers should be turning to their advisors for strategies on how to reduce their convenience operation’s—and their own—tax bill. Fortunately, every c-store retailer has at their disposal…
Expansion Funding Options
Large or small, convenience stores can access financing programs that best fit their growth plans. By Mark Battersby, Contributing Editor Interest rates remain close to their historical lows but financing for many convenience store businesses continues to be elusive. Lower interest rates have translated into lenders and investors being more selective. How then, can convenience…
Is Cashless Now King?
More and more, U.S. consumers are adding modern payment systems to their wallet so they can have more flexibility when making transactions. By Mark Battersby, Contributing Editor The continued use of cash is surprising given its inconveniences and the risk consumers face in carrying it around. Love it or hate it, cash is increasingly playing…
Tax Extenders Benefiting C-Stores
Once again, lawmakers waited until late in the year to pass another tax “extenders” bill. By Mark Battersby, Contributing Editor The new “Protecting Americans from Tax Hikes” (PATH) Act of 2015 retroactively extended quite a few tax-saving provisions, many quite narrow in scope such as those for film and theater producers, NASCAR racetrack owners, racehorse…
How the ACA Affects You After SCOTUS
The Supreme Court this summer upheld a key part of the Affordable Care Act that provides health insurance subsidies to all qualifying Americans. Looking deeper, what does this mean for the convenience store industry? By Mark Battersby, Contributing Editor The U.S. Supreme Court in King v. Burwell has ruled the tax subsidies for health insurance…
Reaping Tax Savings
A little known tax deduction, Section 199 could save some convenience stores money—if they know what to look for. By Mark E. Battersby, Contributing Editor Can a convenience store convince the Internal Revenue Service (IRS) that they are “manufacturers” or engaged in “qualified production activities?” Given our complex and often confusing tax rules, it may…