Tuesday, Nov 23, 2010
Timothy J. Morrison ’83 recently teamed up with fellow Rider alumnus Guy DelGrande ’83, president of Tekmark Global Solutions, LLC., to launch the Small Business Tax Credit Calculator™.
by Meaghan Haugh
When the federal government introduced the Small Business Health Care Tax Credit last March, Timothy J. Morrison ’83, president of Benefit Design Specialists, Inc., was intrigued to learn whether his own business of 15 employees qualified. He was dismayed, however, to discover how difficult and time consuming it was to sift through all the new reform’s legislation on the Internal Revenue Service Web site. Morrison, who received his bachelor’s degree in Business Administration, could only imagine how daunting the task seemed to other small business owners, and he knew he needed to develop a solution.
Relying on his 24 years of experience in employee health benefits and insurance, Morrison recently teamed up with fellow Rider alumnus Guy DelGrande ’83, president of Tekmark Global Solutions, LLC., to launch the Small Business Tax Credit Calculator™. Designed for small businesses, accountants, tax preparers, payroll administrators and benefits professionals, the Web-based program helps them to accurately calculate the exact amount of tax credit due for use in filing their yearly tax returns.
“I wanted to create a user-friendly, Web-based product because most people assume that they do not qualify for the tax credit,” said Morrison, managing member of Tax Credits, LLC™. “Small business owners are going to need this tool to calculate their tax returns in February and March and accountants will be able to offer this option to their multiple clients. There’s no accurate calculator right now that offers that type of solution.”
Generating solutions is not unusual for Morrison. Since 1996, Benefit Design Specialists, Inc., has provided innovative employee benefits solutions to more than 300 employer groups in Central Pennsylvania and Phoenix. BDS handles all of its clients’ benefit packages, including dental, medical and life insurance.
“When we work with the client, we are not only the broker, but we’re also the one call for them for claims, clients and billing issues,” explained Morrison, whose son, T.J. Morrison ’08, is the company’s sales and marketing manager. Morrison and his wife, Tonya, also have two other sons, Rob and Clint, who are currently studying at Rider. All three sons have followed in their father’s footsteps by wrestling for the Broncs. “We work for the employer in reaching out to medical carriers that are competitive and advantageous, getting quotes and handling the negotiation process annually.”