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WINTER 2014

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Distributor's Link Magazine Winter Issue 2014 / VOL 37 / NO.1

38 THE DISTRIBUTOR’S

38 THE DISTRIBUTOR’S LINK Cardinal Fastener Inc. 5185 Richmond Road, Cleveland, OH 44146 Tel: 1-800-237-3477 Fax: 216-831-3651 Email: sales@cardinalfastener.com www.cardinalfastener.com FASTENER TRAINING INSTITUTE ® VISITS CARDINAL FASTENER Cardinal Fastener Inc. was one of the companies selected to be a part of the week-long Fastener Training Institute’s Certified Fastener Specialist advanced technical training program. Cardinal had over 30 participants from various fastener companies tour the facility. This was the second time in 2013 that Cardinal has hosted the FTI group. The students were given an opening speech by the Bill Boak (president of the company). Bill discussed that Cardinal is a leading fastener manufacturer that was founded in 1983, and that distributors have depended on Cardinal for its same-day or next day delivery of high strength, hot forged fasteners. Bill Walczak (Regional Sales Manager), provided a brief over view of Cardinal’s products: hex bolts, heavy hex structural bolts, socket head cap screws, square head and 12 point flange, hex flange, shoulder screws, studs, and specialty parts ranging from 1/2” to 3” dia. (M16 to M72 metric). The students were then broken into groups and taken throughout the 90,000 square foot plant for a total of seven stops. Some Of The Stops Included: 1. Five brand new HAAS ® CNC lathes. The new CNC lathes provide added capacity for quick turnaround on hot forged fasteners and specialty components that require precision CNC machining. The expanded CNC capabilities include turning, drilling, tapping, ID and OD threading (single point cut) in diameters up to 20” and lengths up to 40”. The new CNC machining equipment ensures precision quality and quick turnaround for large bolts, cap screws, studs, and other hot-forged fasteners that require secondary machining. The students learned that the expanded CNC capabilities are also adaptable to non-forged components machined from many materials such as Inconel®, Hastelloy®, Monel®, and other high strength, corrosion resistant and high temperature metals. 2. The completely rebuilt a 600-ton Ajax hot forging upsetter. This highly specialized equipment produces large structural fasteners and specialty parts up to 3” (M76) diameter and unlimited lengths (minimum length is 6” (150mm)). 3. The SLT (Short- Lead-Time) cells, which transform blanks into finished products the same day an order is received. 4. The Quality Department where the students learned that Cardinal became the first U.S. hot forged fastener manufacturer to attain ISO 9001:2008 certification and the A2LA accredited laboratory. The students enjoyed meeting with the machine operators, and were able to learn first-hand what it takes to make hot forged bolts. Due to popular demand, Cardinal will host the tour again in August, and November of 2014. HAAS® is a registered trademark owned and licensed by HAAS Automation, Inc. INCONEL® is a registered trademark of the Special Metals family of companies. Hastelloy ® is a registered trademark of Haynes International. Monel ® is a registered trademark of the Special Metals family of companies.

THE DISTRIBUTOR’S LINK 39 13 WAYS TO HAPPINESS THIS TAX SEASON continued from page 36 7) Check Your Math. If you choose to do your return by hand, check your math. Although the IRS generally does this for you, you don’t want a surprise to come through your checking or savings account when the IRS deposits the money. 8) Direct Deposit. Direct Deposit is free, secure, and best of all, fast. There is no waiting 6 weeks for a check that can be taken out of your mailbox or lost. It is directly deposited into an account of your choosing. Just be sure to check your deposit account to make sure it does get deposited. There are situations where the return can be delayed. 9) Form 8888. Many do not know this, but you can split your return into 3 separate bank accounts. The advantage here is that it may help you establish or grow a savings account. 10) Check for Your Return. When expecting your return, it costs nothing to check the return online through the IRS website. If something comes up, it is easier to call the IRS rather than waiting on an unresolved situation to solve itself. Planning 11) Tax Problems. Too often taxpayers let tax problems slide until their wages are being garnished. This is exactly what you don’t want. Deal with tax problems directly. If you owe a liability pay it, make an installment agreement, and just don’t let it go forever. I’ve seen people lose substantially everything over this. It is simply not worth it. 12) Plan for Next Year. Too many people file their taxes and then forget about it until next year. This is one of the worst things you can do. Take the liberty of further examining Publication 17. Many valuable deductions can be anticipated for in the coming year. Are you selling real estate, look into like kind exchanges or call your attorney. Are you selling your home at a loss How about renting it out for a couple of years in order to take that loss Are you in danger of losing your home and on and on Always be vigilant of tax reducing strategies. Planning results in more money to those who know the code. 13) Strategies. What strategies could individuals possibly have for tax planning Tax Planning is not only for millionaires! To start, think about the following: After completing your tax return, if you are owed money by the IRS, file early. Generally you should receive a W-2 from your employer by January 31. If you owe money, file on April 15. It is an interest free grace period of 3 months and 15 days, utilize it! Conclusion The unfortunate part is that not many people know about tax strategies or even get professional advice on their tax situation. They just let the chips fall as they may. Tax strategies should be at the front of everyone’s mind. Don’t quit planning just because you filed your return and spend the money haphazardly. Plan for your taxes, plan for your future, and strive where many struggle.

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