Tips on selecting the right consultant to prepare your 8a, HUBZone or VetBiz Application

Pick up the phone. Speak to the actual person who will be preparing your application.

You should be able to call and speak directly to the individual who will be responsible for preparing your application. At Cloveer, you can call and speak to the employee who will be responsible for preparing your application. They will answer any of your questions and let you know whether or not you are eligible to become certified into one of these programs at no cost.

The 8(a) Social Disadvantaged Narrative Explained

Who is a Socially Disadvantaged Individual? 

For purposes of the 8(a) Program, socially disadvantaged individuals are those who have been subjected to racial, ethnic prejudice or cultural bias within the American society because of their identities as members of groups and without regard to their individual qualities. The social disadvantage must stem from circumstances beyond their control.

8(a) Application Contract Listings Breakdown Tips

When you apply for the 8(a) Program through certify.sba.gov the SBA will require that you provide a detailed listing of your contracts* for the last 12 months.

Tip: We also suggest that you take a look at this breakdown for the last completed (e.g., 2018, 2017 and 2016) three years too. The SBA is likely to request this additional information to look at the totality of your economic dependency.

10 8(a) Application Tips on Personal Tax Returns

Have you provided complete copies of the personal Federal tax returns for the last three years from all required individuals? Federal tax returns are required from each 8(a) applicant and their spouse. Currently, the SBA does not require the same for other individuals who are an officer, director, partner, member and anyone else who holds more than 10% ownership interest in the business concern who is a non-disadvantaged individual with certify.sba.gov. However, be prepared to provide these to the SBA, if requested.

Here are 10 tips to ensure you are complaint with the SBA requirements for your 8(a) Application for personal tax returns.

How to determine if your Adjusted Gross Income is below the $250,000 threshold

The $250,000 Threshold for Adjusted Gross Income (AGI)

Among the many 8(a) business development program eligibility requirements the applicant for 8(a) Certification must have is an average AGI over the past three taxes years of less than $250,000.

What is the definition of Adjusted Gross Income?

Adjusted gross income (AGI) is a tax term for an amount used in the calculation of an individual’s income tax liability. AGI is calculated by taking the applicants gross income and subtracting their maximum allowable adjustments. AGI is located on line 37 on your Form 1040 for 2017 personal taxes and before and on Line 7 for 2018 personal taxes.