The "New IHFRA" and NASRA rally Members of Congress

Furniture World Magazine

Members of the new IHFRA Executive Committee, Board of Directors, and several Chapters continued the pursuit of the National Alliance of Sales Representatives Associations' (NASRA) legislative agenda in Washington, DC, May 4-5, 1999. Headed by IHFRA's President Bill Feldman, CHR, and Craig Cleveland, CHR, IHFRA's Legislative Action Committee Chair, over 100 home furnishings, apparel, and shoe representatives of the NASRA coalition met with more than 350 Members of Congress during the two days of legislative appointments. The NASRA legislative agenda focused on four key issues for this year's meeting: 1) Senate Bill S.343 (introduced by Senator Kit Bond, R-MO and Senate Small Business Chair) and House Bill H.R. 980 (introduced by Representative James Talent, R-MO and House Small Business Chair) -- Acceleration of 100% Healthcare Deductions. 2) Senate Bill S.774 (introduced by Senator John Breaux, D-LA) and House Bill H.R. 1195 (introduced by Representative Jim McCrery, R-LA, and Representative John Tanner, D-TN) –Meal and Entertainment Deduction Increase. 3) Senate Bill S. 344 (introduced by Senator Kit Bond, R-MO) –Clarification of the Independent Contractor Status. 4) Developing the ground support for the IRS to change depreciation of computers and peripherals from 5 years to 2 years as a result of ever-changing technology. "All of these issues affect many aspects of our home furnishings industry and we believe that we must address and make them an issue with the Members of the House and Senate," says Bill Feldman, CHR. During Feldman and Cleveland's meetings with Senator Bond and Senator Breaux, they openly discussed the positive impact any of these bills could have if passed and without doubt, the negative that could result in monumental expenses to the industry. Both Senators recognize that the Independent Contractor is very critical because it affects "retailers when they contract for any type of service such as interior design, paint, construction, or delivery. Additionally, manufacturers and their sales representatives face huge financial consequences if the status were altered or opened up for investigation by the IRS. Not to mention all showrooms which contract sub-reps and seasonal assistance would be subject to penalties as well," continued Feldman. "We have intentionally focused our efforts on the issues we see benefiting the entire industry, " says Craig Cleveland. "The ability to deduct the expenses associated with healthcare as well as legitimate business meals and related expenses is paramount for representative and small retailer and manufacturer alike. Equally important is the industry's ability to retain the independent contractor status which ultimately could dramatically impair some manufacturers and retailers' options of remaining in business if they were forced to treat all contracted services on an employee level." Founded in 1995, NASRA and IHFRA have developed an effective grassroots educational effort on "the Hill" and have been successful in obtaining key from both the Senate and House sides. In addition to member support, NASRA is represented in Washington by political specialists, the Honorable James D. "Mike" McKevitt and Abraham L. Schneier. For more information about NASRA, the New IHFRA, or the 1999-2000 Legislative Agenda, please contact the IHFRA office at (336) 889-3920. Tidewater Credit Services (TCS) is a privately held consumer finance company headquartered in Chesapeake, Virginia. TCS was established in 1992 to provide credit opportunities to consumers in the retail furniture industry. Our mission is to offer credit to those consumers who may have experienced financial difficulties in the past, but who currently demonstrate the financial capability and initiative to establish new, positive credit and payment patterns. In today's competitive retail market, losing a sale to credit denial is costly and frustrating. Many lenders are tightening their credit guidelines and some are exiting the secondary market all together. This leaves retailers without an option for those customers who have been declined by their primary and secondary lenders. TCS specializes in providing financing for your customers who may not meet all the requirements of your other lenders. Our aim is not to compete for the same customer your other lenders will finance, but to review the applicants that they have denied and offer credit under our terms and conditions. In order for TCS to purchase these higher risk sales contracts, we must charge a small discount to the retailer. Although you are giving up a percentage of the amount financed, whatever margin remains will go straight to your bottom line. With TCS approving additional business, your sales force morale and productivity will increase, customer loyalty will increase, and bottom line profits will increase. It's a win - win situation for everybody. For more information, please contact David Wood at 1-800-535-4087, extension 335.