More than three years ago I got into a rather heated argument with our Yellow Page advertising rep. It was my prediction then, that the internet would soon replace the Yellow pages.

From our August 2008 client newsletter:

For 20 years I firmly believed that no other medium could provide us with a larger amount of motivated buyers than the Yellow Pages.

However, things were changing and changing rather quickly.

Back in 2005, we discovered that instead of looking for us in the Yellow Pages paper book, our customers were looking for us on the internet.

We soon discovered that the advantages of a web site are overwhelming.

I told our Yellow Page rep to think of a web site as a super Yellow Page ad.  The trends in 2005 showed that usage of the paper Yellow pages was dropping.  More and more, we found that our  potential clients were forsaking those heavy Yellow Pages paper books for Google and other search engines. It's easy and fast to do a search for "travel agents Springfield, Illinois "  We bravely cut our expensive Yellow Page advertising to just a listing and never looked back.

Of course our Yellow Page ad rep disagreed, at the time predicting our demise.

But just a year later, our Yellow Page ad rep returned with a proposal that included guess what?

A new online internet local search proposal....by R H Donnelley targeting the growth in internet searches for local businesses.  Of course there was a cost involved.  For several hundred dollars R H Donnelley would give us a local listing in their online Yellow Pages and help place us on Google’s local listing.

And here is where I let the cat out of the bag.

There is no reason to pay R H Donnelley to get a Yellow Pages internet listing.  Google and Yahoo will give a listing free on their web sites.

From the John Jantsch’s Duct Tape Marketing Blog:

    For local type businesses, those that just want business from around town, the Internet is becoming more and more important. As the search engines move to implement their local search strategies, local businesses will need to understand the playing field

    Here’s a tip: The Internet Is the New Phone Book and you better make sure you get listed.

    Today, Google announced the Google Local Business Center, a free tool for businesses to easily add or update their business listings that appear in Google Local. The Google Local Business Center is available for all businesses in the United States regardless of whether or not their listing already exists in Google Local.

    To access this new feature, businesses must visit the Google Local Business Center and request that their Google Local business listing be added or edited. After completing the listing information, businesses will receive a mailer from Google with a PIN. The PIN is used to confirm their addition or requested changes to the Google Local business listing. Various information about a business can be added or edited including address, phone number, hours of operation, type of cuisine, payment accepted, website and email.

    This one is a no brainer - get listed! - They have even integrated their very cool mapping system into the listings and hint that they may use the data when someone executes a “local looking search” like - Accountant Kansas City. This kind of search is already starting to include some directory type listings. (2)
  
Let me repeat Google and Yahoo will let you list your business free.

Let us say you were a savvy business owner who wants to list your travel agency on Google.  After logging into Google Maps Local Business, creating a free account, and answering a few questions, Google will give you the following listing free:








Click on this link to see our Planet Travel free listing

Along with creating a correct listing in Google Maps, each time you edit or create a new listing the information gets added to a central database that shares the business contact information with other Google services. These include Froogle shopping, Google Earth and Google Web search to name a few. All mobile Google products also interface with this database, so you are actually increasing your exposure through many other Google products and services.   Google will even keep track of how many people viewed your web page and where they came from. (By the way 57 people looked at our listing last week) Something that the Yellow Pages can never do.  They will even attach a coupon to your ad, let you add photographs or videos to your ad page.  Again, this service is absolutely free.

If you have questions or need some guidance on how to implement this free (alright I am guilty of mentioning that this service is free too much ) no - brainer call our office we are here to help.

Over-looked tax deductions .... including 16 new ones for this year

From Kiplinger.com:



Every year, the IRS dutifully reports the most common blunders that taxpayers make on their returns. And every year, at or near the top of the “oops” list is forgetting to enter their Social Security number at the top of the tax form -- or making a mistake when entering those nine digits.

No doubt about it: The opportunity to make mistakes is almost unlimited, and missed deductions can be the most costly. About 46 million of us itemize on our 1040s -- claiming nearly $1 trillion worth of deductions. That’s right: $1,000,000,000,000, a number rarely spoken out loud until Congress started debating economic-stimulus plans to combat the Great Recession.

Another 85 million taxpayers claim more than a half-trillion dollars’ worth using standard deductions—and some of you who take the easy way out probably shortchange yourselves. (If you turned 65 in 2009, remember that you now deserve a bigger standard deduction than the younger folks.)
Yes, friends, tax time is a dangerous time. It’s all too easy to miss a trick and pay too much. Years ago, the fellow who ran the IRS at the time told Kiplinger's Personal Finance magazine that he figured millions of taxpayers overpaid their taxes every year by overlooking just one of the money-savers listed below:

Click the above link to read more.

The 7 Things Most Taxpayers Get Wrong When Filing Their Tax Return With The IRS

Dear Mr. or Ms. Taxpayer, Congress has passed some very confusing new tax laws which go into effect THIS tax season! By changing everything around, Congress (and the IRS) have made filing an accurate tax return almost impossible for regular hard-working taxpayers like you!
But that's NOT the worst part!
New complicated tax laws including the NEW EARNED INCOME CREDIT change
could stop many people from receiving tax refunds from Uncle Sam which are supposed to be theirs!
And you can rest assured no IRS agent is going to show up on your door step offering to give you an extra check for the tax refund money you didn't know how to claim. (But if you owe THEM money ... now that's a different story. They'll be on you like white on rice!)
Oh, and just for the record, many tax experts are predicting an increase in IRS audits after the April 15th deadline. Why? Well, since there are so many new tax law changes affecting this year's tax filing season, the IRS computer "check system" is expected to pick up a higher number of "red flagged" tax returns.
And with an increase in "incorrectly" filed tax returns comes the assurance of more nasty IRS letters and the possibility of those seemingly "never-ending" IRS agents following up for years. (Boy you want to talk about bureaucratic red tape ... I've seen a simple mistake on a 1040 tax return never get resolved for close to two years just because the person could never talk to the same IRS agent!)
Obviously, dealing with the IRS alone (especially THIS tax season) is NOT recommended if you want real peace of mind once you've filed your tax return.
So Read The Following SECRETS Before Filing Your Tax Return This Year!

The 7 Things Most Taxpayers Get Wrong When Filing Their Tax Return With The IRS:

1. THE NUMBERS DON'T ADD UP! Yes, it's true. Few people know (and those folks probably wouldn't tell you) the biggest problem the IRS has when checking tax returns is the math is wrong! And 99% of those incorrectly calculated tax returns are prepared by hand. (Dirty Little Secret: Make sure you file your tax return on a computer generated tax form. Just this alone will reduce many possible mistakes, increase the efficiency with which your tax return gets accepted by the IRS and drastically lower your chances of an IRS audit compared to a tax return prepared manually.)
   
   
2. SOCIAL SECURITY NUMBER(S) ARE WRONG! You'd think something as simple as inputting a social security number onto a tax form would be the easy part of preparing a tax return. Well, while it is easy, it still is the second biggest problem area the IRS has. If your S.S. #, your spouses' and even your kids' nine digit number is off just by one number, the whole tax return is going to get rejected by the IRS which will delay your refund. (* SECRET: Taxpayers NOT electronically filing their tax return leave themselves vulnerable to IRS employees making input errors on their tax return.) *This is especially frustrating when you have been careful to get all of the social security numbers correct on your tax return and seasonal, part-time "key punch" operator makes a mistake which causes unwanted delays on the acceptance of your tax return.
   
   
3. INCORRECT CLAIMING OF DEPENDENTS! There are so many stipulations for who or whom you may or may not claim as a dependent that it is only logical this is a major problem area for people trying to file their taxes with the IRS. SECRET: A common dependent not claimed by families is an elderly parent living in the home. Another common dependent problem happens when a person tries to claim head of household, but does so with unqualified dependents. No matter what your situation is, re- review the "Personal Exemptions & Dependent" sections in your federal tax booklet.
   
   CAUTION: The IRS will throw the book at you for getting this one wrong. Many dishonest people try and defraud the government in this area.
   
   
4. EARNED INCOME CREDIT VIOLATIONS! This is another major area where fraud takes place in our tax system and the IRS is cracking down more than ever! If you think you qualify for the EIC, read over this section carefully in your IRS booklet (especially since the IRS will randomly pull an extra 12,000 EIC tax returns for review this year.) SECRET: There are so many NEW LEGAL ways to receive some form of the EIC credit, many people file their taxes unknowingly and leave hundreds (and sometimes thousands) of dollars unclaimed that's supposed to be theirs! Don't make that mistake!
5. NEW CHILD TAX CREDITS! These forms are extremely complicated and most taxpayers will need a computer program just to get the math calculations correct. SECRET: Unlike most tax breaks which only adjust your income before computing the tax, this is a credit which reduces your TAX LIABILITY dollar for dollar!
6. REDUCE CHANCES OF IRS AUDIT! This question gets asked a lot, "How can I reduce my chances of being audited by the IRS?" SECRET: Electronically file your tax return instead of mailing it. EF returns get accepted by the IRS the next day and are rarely ever reviewed again by IRS agents for audit.
   
   Little Known "Scary"Fact: One of the biggest reasons for audits is because of mistakes made by the IRS. In 1998, the IRS received over 85 million paper tax returns. The IRS hires employees for the tax season at minimum wage. Those underpaid employees must wade through stacks of returns. It's difficult to scan returns into computers because people fill them out on manual typewriters, with ballpoint pens, even in crayon. Teams of IRS workers tear open millions of tax returns, sort the paper and checks into slots at worn, wooden tables and then stamp a number on each by hand and then manually enter sensitive financial information into computers. The average warehouse is spread over seven acres. Is there any wonder the IRS will make a mistake. (Sounds like another "Florida Recount" situation to me.)
   
   With electronic filing there's no chance of a mistaken keystroke or a return placed in the wrong wooden slot. Nobody has to try and read a taxpayer's handwriting in crayon. Heck, if you owe money you can authorize the bank to electronically take the money from your checking account which eliminates them loosing the check! ELECTRONIC FILING SHOULD BE THE ONLY WAY YOU FILE YOUR RETURN!
7. FILE BY THE APRIL 15TH DEADLINE EVEN IF YOU CAN'T PAY! For all you people who will be writing a check to Uncle Sam this year, please remember this. SECRET: Filing your taxes on time (and at least paying a $1) is better than filing a tax return AFTER April 15th! You will still owe money to the federal government, but at least you will not have to pay the LATE-FILING PENALTY!

Here's how you can "NEVER Have To Worry About Your Taxes Again!!" All you have to do is ... Choose Us To Professionally Prepare And Electronically File Your Taxes This Year!

As a taxpayer, you need to protect yourself from filing an "incorrect" tax return and missing out on the BIGGEST POSSIBLE REFUND available from Uncle Sam.

Why we are your better choice for tax preparation

1. Fair fees
2. Experience 28 years
   
3. The safe warm feeling.
4. IRS representation
5. We are not a big firm with a big advertising budget.
6. Passionate about our clients and our business.
7. Free electronic filing.
8. Early filing discount.
9. Enrolled to practice with the Internal Revenue Service.
10. We guarantee our work.  Accuracy and reliablilty
11. Open year round.
12. Saving you tax dollars.
13. Open weekends and evenings.
14. Credit cards accepted.

Buy a new car without getting ripped off

From the Consumerist web site:


There is a rare breed of individual who enjoys shopping for a new car. Likening it to one of our last remaining instances of socially acceptable bare-knuckle-boxing, Rob Gruhl is one such person. He shares his tips for not getting screwed at the dealership in this fun and lively and short presentation.

Click the above link to watch his video.

Five Year End Tax Strategies For Small Business Owners

From the Wall Street Journal online:



Attention, small-business owners: it's not too late to make some smart moves and slash your business' 2009 taxes. To start with, some soon-to-expire tax breaks are too good to ignore if your operation is healthy enough to need and be able to pay for equipment and software. And there's more. Here's my list of the best year-end tax-saving moves.


Click the above link to read more.

The $8000.00 new homeowner's credit and the myths about home ownership

From the Washington Post:

Even as we wade through the wreckage of the housing collapse, Americans remain a staunchly house-proud people. And our government is apparently determined to encourage us: This month, President Obama signed into law an extension and expansion of the popular homebuyer tax credit, which had been scheduled to expire at the end of November. But before you rush out to claim your extra cash, take a moment to make sure you're not in the housing market for the wrong reasons. We've found that several of our most cherished beliefs about the value of a home don't hold true:


Read more by clicking the above link.

Why we are passing on a sales tax charge on your billing this month.

Our PayCycle service was recently sold to Intuit. 

Intuit has taken the position, which we have objected to, that they are no charging sales tax for the use of their service.

We are passing on that sales tax to you and it will be reflected on your December statement.

See the email below.
 

Thank you for your inquiry dated 11/09/2009 regarding IL sales tax. We appreciate the opportunity to service your payroll needs.

I apologize for the inconvenience, we have issued you a credit for the sales tax on Monday, 11/03/2009. If you do not see the credit by Wednesday, 11/11/2009, please contact us.

Intuit Online Payroll, formerly PayCycle is not providing a service, but the right to use a prewritten software application.  The software is provided as a web based "Application Service Provider/ Software as a Service"  application (ASP or SaaS).  The States tax prewritten software as tangible personal property, whether or not the customer receives a tangible copy of the software; downloads the software; or uses an on-line ASP or SaaS version of the prewritten software.  Please note that both KPMG and Deloitte agreed that the taxability should be based upon an ASP or SaaS model and not the conventional payroll service model.  The Illinois Department of Revenue Regulations cites this in Title 86 Part 130 Section 130.1935 Computer Software.

We were glad to be of assistance and look forward to helping you with any future payroll needs.

If you have any questions, please do not hesitate to contact us over the web at https://onlinepayroll.intuit.com/elink?a=inquiry.

Thank you for choosing Intuit Online Payroll as your payroll partner. We appreciate the opportunity to serve you.

Sincerely,
Mark Dulay
The Intuit Online Payroll Support Team

Simple easy free bookkeeping online

The daunting task of organizing this years records for preparing your income tax return just got a little easier.

We suggest that you take a look at the website outright.com.


Outright: Simple Bookkeeping Online

Streamlining the work involved with owning a business, helping entrepreneurs pay the right taxes, record financial transactions, and keep their businesses on track and growing. Created after watching a number of small businesses, like ourselves, struggle to capture business deductions, often piecing together different solutions. Believing business owners spend too much time and effort on the least enjoyable part of running one's own business, our goal is to make it simple, helping entrepreneurs track all of their income and expenses to get their taxes done accurately.




Click on the above link for more information about outright.

Is Now the Time for a Roth IRA Conversion?

Usually when Washington gives you a tax break with one hand, they take something else away with the other - leaving you to decide which is better.  That's certainly the case with new rules making it easier to convert your regular IRA account to a Roth IRA.  This could be a great opportunity for you, but it's not a slam-dunk.  So we're writing to let you know the change is coming and to help decide if you should investigate further.

Under current law, there are two kinds of IRAs.  The regular IRA lets you deduct contributions today, and defer tax on your funds until you withdraw them.  The Roth IRA, on the other hand, offers no up-front deduction, but lets you take money tax-free during retirement.  And there are no required minimum distributions as with regular IRAs.

Today you can convert your regular IRA to a Roth IRA, if your income is under $100,000.  Starting in 2010, however, you can do it regardless of how much you earn.  What's the catch? You have to pay tax on the full amount you convert now.

If the tax you pay to convert today is less than the tax you would pay to withdraw the money tomorrow, it makes sense.  But deciding isn't as easy as you might think - who knows where tax rates will be tomorrow?  Even calculating the actual tax you'll pay to convert today is harder than it looks.  You can't just assume that you'll pay your regular marginal rate.  That's because you take the full amount you convert and add it to the rest of your income.  And that has ripple effects to consider - like phasing out itemized deductions and personal exemptions, subjecting Social Security benefits to tax, and even pushing yourself into a higher tax bracket!

Bottom line:  this is not a do-it-yourself calculation! So if you're curious about this opportunity at all, don't make an expensive mistake you can avoid.  Call us - at 217-241-4597.

Year end tax planning and why Uncle Sam is a Scrooge when it comes to Christmas Bonuses

Sally Smith, was a smart businessperson, she knew the basics of year-end tax planning.

1.  Postpone income to next year.
2.  Pay as many expenses as possible this year.
3.  Keep inventory level low.
4.  If you are going to make a capital investment, do so before the end of the year.
5.  Double check for missing deductions.
6.  Invest in an IRA for similar type account.

Sally owns a retail store and faced the year end with her eyes wide open.  Sally knew that a few strategies would pay big dividends on April 15.  Here is what she did to reduce her tax liability:

Since Sally was operating her business on a cash basis and relied upon cash sales through her cash register, she did not have the opportunity to postpone much income.  She has established a policy for many years to close her books on December 28, which gave her opportunity to defer three days of sales to next year.

Sally then reviewed her bills.  She started to write out checks for her expenses. She wrote checks for all expenses due, even if some expenses were due in January.  She dated her checks for December 28, 2009 to be sure that the expenses were recorded for this year on December's bookkeeping.  Her checks written totaled to almost $10,000.  Her one simple strategy, accelerating expenses meant that Sally saved over $4,000.00 in income tax this year.

Since you pay tax on your inventory at the end of the year, Sally knew that reducing her inventory to the lowest amount possible was important for her. First, she decided to review her inventory to see if she had things that have been gathering dust.  She found items that in fact had been sitting around for more than three years.  She decided to mark those items down and immediately started an inventory reduction sale for those items.  She knew that the value of  her inventory was based upon her costs of the items, not the selling price.  She also knew that items that were partially used or supplies not for resale did not count as part of her inventory.

Sally had been debating whether to purchase a new computer for her business. The local computer store was offering a "six-months same as cash" financing offer for the purchase of new computers.  Sally decided to purchase the computer now, electing to take advantage of the special financing offer.  She knew that she could deduct the full purchase price of the computer on her tax return, even though she did not pay for it right away.  When you purchase something using a credit card or borrow the money, as Sally did, you get to deduct the amount when you purchase the item.  The $3,000 computer saved Sally $1,200 in income tax.

As part of her year-end review Sally took a minute to see if perhaps she has recorded all her business expenses as part of  her monthly record keeping.  She knew that the credit card that she had been using exclusively for business had some interest payments that were not included. She made a note to record her year-end statement from her credit card company to make sure that it was included as interest paid on her year-end documents to her accountant.  In addition, she decided to review her automobile mileage and other receipts for expenses that she might not have had for her business and had a chance to record in her monthly record keeping.

Sally also knew that she had time to make her annual IRA contribution until April 15 of next year.  She decided not to make it till next April.  She also made a note to talk to us about Roth IRA accounts and analyze the different options available to her.  One of her options was a self-employed Pension Plan commonly called a SEP. IRA's.  SEP. IRA's do not have to be opened or funded until the due date of your return.  That means that Sally doesn't have to open or make a contribution to a SEP. IRA for the 2009 tax year until April 15, 2010.  She can also contribute a larger amount to her SEP. IRA than she could to her regular IRA.  However, she was reluctant to open one because she also knew that she would have to contribute an amount to her full time employees.  She made a note to ask her accountant what that contribution would be and what her resultant tax savings would equal.  She also thought her accountant might have  ideas on how to "cushion" the employee's contribution issue.

Sally knew that her year end review of her tax situation saved her almost $7,000 this year.  She made a note to review her year end information before we prepared her tax return in 2009.

SAVE TAXES...REMEMBER BEFORE JANUARY 1, 2010

1) Postpone income to next year.
2) Pay as many expenses as possible this year, even if you do not send the checks off till January,       be sure to write the checks for the expenses.
3)  Keep inventory at a low level.
4)  If you are going to make a capital investment, do so before the end of the year.
5)  Double check for missing deductions.
6)  Invest in an IRA or similar type account.

Christmas bonuses are taxable wages for your employees with two exceptions.  Uncle Sam is a Scrooge when it comes to Christmas bonuses.  Of course the rules are not black or white.  Exceptions apply.  If you choose to pay your employees a Christmas bonus, you are required to withhold Social Security, Medicare, Federal and Illinois State income taxes. In addition, you are required to pay both Federal and State Unemployment taxes on Christmas bonus money paid to your employees.  You are however able to exclude the above mentioned payroll tax liability if your cash Christmas bonus does not exceed $25.00 per employee. Any cash payments over the $25.00 amount are taxable wages for employment tax purposes.  You can also avoid any payroll tax liability if you give your employees a non-cash gift of $75.00 or less.

Escape the tyrany of your acounting payroll software.

Never pay for a Quick Books update again.  Don't even think about

We can help.

Our system is half the price of any other payroll processor. Including Quickbooks.


Easier to use. Extremely safe. No set up fee.



Direct deposits are free.  Quickbooks aren't

Relax, payroll taxes are a snap and guaranteed to be accurate.


Access you payroll information anywhere, anytime, from any computer.

And the most important feature that no one else can offer, the safe warm feeling knowing that your payroll and payroll taxes are done right.

We are right behind you, looking over your shoulder, making sure everything is done right.

Why is owning a business very similar to playing Betti the Yeti slot machine?

True story.

My wife and I made a day trip to St Louis yesterday and one of our stops was the Ameristar Casino.
A woman yesterday sat down next to my wife and started playing Betti the Yetti slot machine.  My wife didn't seem to make much of the situation, the woman only played for a few minutes and then she stopped playing, reached into her purse for her wallet, looked at my wife and said,

"I just fed $100.00 into this machine and got paid &*(#!"

Understand this, Betti the Yetti is a penny slot with a minimum bet of 40 cents and a maximum of maybe $2.00. So  $100 buys you a lot of spins.

"Do you know what she did next?" my wife asked me. And without missing a beat she answered her own question, "Put another $100.00 into the machine."

Owning a small business is very similar to gambling on a Betti the Yeti slot machine at times.  You put your own money into it at times, not knowing if you are ever going to get a reward.  Even a small reward.

However, there is one thing you can do right now, that is guaranteed to reward you each and every time.

Can you guess what it is?

More in a followup post.

10 Ways to lower your taxes now

From MSN money:

A reader wrote me recently: "I have discovered only three ways to cut my taxes: reduce income, give more to charity and incur major medical expenses. Is there anything else I can do?"
The reader has the right idea: Anything that reduces your income or maximizes your credits and deductions will lower your tax bill.


Click the above link to read more.

How I saved my client hundreds of tax dollars.....Free Breakfast seminar

10 Most Expensive Tax Mistakes That Cost Business Owners Thousands

If you’re like most business owners, you waste thousands of dollars every year in taxes you don’t need to pay. Attend our entertaining, fast-paced seminar to learn how to take advantage of these strategies and more:

• The single most expensive tax mistake of all

• How to slash your audit risk (Fly under the IRS radar!)

• The single most powerful strategy for most business owners

• Retirement savings strategies for every business

• How to make the most of meals, entertainment, and gifts

• The “mileage allowance” mistakes that cost thousands!

• Write off your family medical bills as a business expense

• How to deduct your kids’ private school and college tuition

Your invited
Two upcoming seminar options available:


Tuesday, November 10th, 8 am

— OR —

Thursday, November 12th, 8 am

Four Seasons Family Restaurant
(Next to Country Market)
1069 Jason Place
Chatham, IL 62629

Space is limited!
Contact us today to reserve a seat!!
RSVP
Phone: (217) 241-4567
email:  taxpartner@gmail.com


Let us help you:
Save on taxes
Increase sales
Improve cash flow

Client Open House Thursday, October 29, 2009

With our office remodeling scheduled to be completed on Tuesday, the painter is coming to touch up, we invite you to an open house to check out the new digs.  Please join us Thursday, October 29, 2009 from 4-7.  My crystal ball says the spread is going to be something else.  Stop by for 10 minutes or the stay even longer.  Hope to see you.

What happened to global warming?

From the BBC:

This headline may come as a bit of a surprise, so too might that fact that the warmest year recorded globally was not in 2008 or 2007, but in 1998.
But it is true. For the last 11 years we have not observed any increase in global temperatures.
And our climate models did not forecast it, even though man-made carbon dioxide, the gas thought to be responsible for warming our planet, has continued to rise.
So what on Earth is going on?


Click the above link to read more

5 simple things you should do every day to succeed with your business

From workitmom.com

Running a business is one of the most stressful, exhausting, all-consuming, and challenging things I’ve ever done – and I’m proud to say that I’ve paid my dues with hard work before I started my own company. Every day there are too many things to do and absolutely never is there enough time to do them. During the first few months of my stint as an entrepreneur I would often get completely overwhelmed by the amount of work to be done (not to mention the fear of failure, but that’s for another article.) Feeling overwhelmed made me extremely unproductive, creating this horrible cycle of having too much to do and not enough time or focus to do it.

 

So I sat down and wrote down a list of 10 things I’d try to accomplish every day to move my business forward. Once I had the list, I read it, and realized that it was too long. So I cut it down to 5 things and I’ve stuck to doing each one every single day for about a month now. I hasn’t yet made mine a million-dollar business, but I can honestly say it’s made my day-to-day more focused, organized, and has allowed me to get some insights into the business I am not sure I was getting otherwise. So I thought I’d share my 5 things with you and perhaps they can help you succeed with your business!

1. Do 3 things every day to get the word out about your business.

Getting the word out about your business is a continuous process. If you get a huge PR hit, great; if you run an ad campaign and get good results, also great. But great PR hits are rare (and some great PR hits don’t produce any real results) and few small business owners have tons of marketing dollars to spend on advertising. But there are endless things you can do every single day to spread the word about your business, such as

• Participate in discussions on relevant blogs, related to your business or with readers who would benefit from your business. Make sure that any comments you leave are genuine comments and are not just there to pitch your site or product. This will get you nowhere fast.

• Personally connect with a blogger or journalist who writes about your industry or related products. Don’t pitch your business – just introduce yourself and say something (a) nice and (b) relevant about their blog or writing. This is a great way to get on their radar.

• Compile a list of useful data that is related to your business and make it available on your site or blog. You can then mention this useful list – and it should be useful! – to any bloggers or journalists you contact.

2. Make one tough phone call (or send one tough email) per day.

Being an entrepreneur is about making tough phone calls – to suppliers, to business prospects, to potential clients, lawyers, accountants, and even competitors. It’s not pleasant but it definitely gets easier the more you do it. If you stick to doing this once a day eventually it will not be a big deal at all. (I’ve now learned this through my own experience.)

3. Spend 20 minutes each day thinking about daily, weekly, and monthly priorities.I like to write things down so I have a notebook where every day I make a list of daily, weekly, and monthly to-dos and priorities. This forces me to not just think short-term and allows time to plan ahead and work out initiatives that might need lead time.

4. Connect with at least one customer per day in a personal way.

Whatever your business is, whether you’re selling a product or service, you have customers. And the best way to build a successful business is to connect with your customers who will then spread the word about your business to new prospects. If you write a blog or send out an email newsletter to your customers, that’s great. But every day aim to connect with at least one customer personally. Send a thank you note to a recent customer. Reply to a comment left on your blog. Send a personal email as a reply to a customer service inquiry. Customers are people – make sure they get to know you as a person.

5. At the end of each day, write down one what went great and what needs some more work. (Look at your notes first thing in the morning the following day.)

This need not be a long and exhaustive list, but I find as an entrepreneur that what I have no time for is reflecting on the business – there is just too much business to actually do! So I’ve made this a rule for myself and by sticking to it I think I’ve learned a lot. And reminding myself about the things that go right has turned out really important. Running a business involves constant challenges and disappointments – not growing fast enough, too much competition, not making enough money, etc. Making notes about things that do go right is a great shot of positive energy and optimism that I think we ALL need as entrepreneurs.
Do you have daily habits that you stick to as a small business owner? I’d love to hear them!

5 Things Your Small Business Should Do Today To Increase Profits

From Crowdspring.com

Here are five practical tips from my own experience with crowdSPRING that you can implement today to increase sales and profits for your small business:


1. Evaluate What’s Working And What Isn’t. Wasted time could be a small business owner’s worst enemy. Your time is limited but you have a great deal to accomplish every day. It’s OK to have occasional unproductive days, but most successful small businesses figure out what works and what doesn’t - and focus on the things that work for them.
For example, it’s entirely possible that a huge amount of your effort is spent on daily activities that aren’t contributing to building your brand, your sales/profits or accomplishing the other meaningful goals you’ve set for your business.
Some small business owners are so protective of their accounting, for example, that they’ll resist the need to bring in a part-time accountant to help them to maintain their financial records. While this appears to be prudent - after all, you’re saving the cost of paying a part-time accountant - such decisions turn out to be very short-sighted for many businesses. If you’re running a solo business, you could be focused on sales during the hours you devote to accounting. Or you can be working to improve your product or service.

How You Can Start Today: Start by listing on a sheet of paper - or in an electronic document - all of the tasks you do on a regular basis (hourly, daily, weekly, monthly).  Do your best to break these tasks into logical areas, such as sales, accounting, marketing, inventory, etc. Second, assign times to each task. How long does it take you to pay your bills every week/month? If you have to maintain inventory, how long does it take you to review your inventory and order replacement inventory? Do this for each task to begin to understand the time you are spending on each activity. Third, assess whether each activity is important. You’d be surprised how many things we all do during a normal day that add little value to our business. Once you understand the importance of each activity, rank the activities (or logical areas) to better understand where YOU should be focusing. If you’re like me, you’ll find plenty of activities that are only modestly important - but those activities sometimes take the most amount of time to accomplish. Determine whether those activities are sufficiently important to continue - or whether you need to find someone else (part-time or full-time) to help you with those activities. We all have areas in which we excel. And we all have areas in which we don’t. Focus on the areas where you bring the most value to your business and find the right people to fill the gaps in areas you don’t. If you focus on the things that work, you’ll be more efficient and productive, and you’ll see meaningful impact to your bottom line.
image credit:


2. Experiment With Hyper-Local Advertising on Facebook. Most small business owners don’t know that in March of this year, Facebook made some very powerful upgrades to its social network. Those upgrades are especially important to small business owners because it’s now possible to target customers based on the language they speak and where they live/work. This means that a bakery can now advertise specifically to people who live within a certain mile radius of the bakery. A language tutor can advertise to families who speak Russian or Chinese - within a 10 mile radius - to target families that may want to hire a tutor for their kids.


How You Can Start Today: Advertising on Facebook is comparatively inexpensive and more importantly, measurable. When you place a print ad in your local newspaper or in a Yellow Pages directory, you are rarely able to determine whether the cost of the ad is justified. However, when you run ads on Facebook, you’ll get reports that will tell you exactly how much it’s costing you and by combining your Facebook advertising with your analytics reports, you’ll be able to measure the effectiveness of this type of advertising. I am not suggesting that hyper-local advertising will work for you - but you should give it a try by setting a small budget and experimenting.


3. Study Your Competitors. Most small businesses are so focused on their own activities that they never take the time to understand and evaluate their competitors. This is a mistake. While you no doubt are operating your business better than many of your competitors, you’ll always learn from studying your competitors. Sometimes, you’ll learn what you can do better. Other times, you’ll learn about what you should NOT do.

How You Can Start Today: A few weeks ago, I wrote a detailed post sharing how I evaluate competitors. In that post, I offered 10 tips to help other small businesses evaluate their competitors. I encourage you to read that post or the more detailed post in my personal blog, where I presented the 10 tips with a detailed analysis evaluating two competitive businesses - Mashable and TechCrunch.
image credit: TheBusyBrain


4. Set Meaningful Goals. Most small businesses - even successful small businesses - fail to grow because the owners don’t take the time to set meaningful goals. I’ve talked to thousands of small business owners. Most want to work for themselves and operate a business that will provide them and their families a good standard of living. But those aren’t the goals I’m talking about. Most small business owners fail to set quarterly or yearly goals for their businesses. They simply operate the business, focusing on day to day activities, without establishing what they hope to accomplish within a certain amount of time. While your overall goal can be to make a ton of money and find enough free time to enjoy other activities, you should establish operating goals for your business.

How You Can Start Today: You can start by asking yourself where you want your business to be six months from today? One year from today? If you are the sole owner/employee, do you want to have five employees in one year? If you have five clients, is your goal to have 15 in six months? If your revenues are $30,000 this year, do you want to have revenues of $75,000 next year?

Yet again why government shouldn't run healthcare

From KELOLAND.COM:


Dealers are still waiting for cash for clunkers cash.

Auto makers will release their monthly sales reports Tuesday and they're expected to show the first year-to-year increase since 2007.  While the Cash for Clunkers program is getting all the credit, local car dealers are still waiting for their cash.

During the month long program, Billion Automotive sold close to a thousand vehicles but has only been reimbursed for 272 of them.  Vern Eide sold over 200 cars and has only been paid for 27 of them, and that's fueling lots of concerns in the auto industry.

Billion Automotive cashed in during Cash for Clunkers, but owner Dave Billion is still waiting for the rest of his money from the government run program, $3.2 million.

"I wonder how long they'd wait if I owed them $3.2 million.  I think they'd be at my door or at least my banker's door," Billion said.

Even though Billion is beginning to get some of his reimbursement money, he's still concerned because he says there doesn't seem to be any rhyme or reason to the program.

When Cash for Clunkers was first announced, dealers were supposed to be reimbursed within 10 days of a sale. Billion says that hasn't happened.

"The program started in July and we haven't gotten paid for cars we sold back then, but then on the other hand we got paid for a car we sold last week.  They don't have an accurate format.  It's not like they're taking the first deals that were submitted and working those.  I don't know how they're doing it, no idea.  I know it's very random" Billion said.

Plus, he's had problems getting some vehicles qualified.

"We had a situation where we had a submission, they rejected it for multiple reasons.  We didn't see anything wrong with it, so we resubmitted it.  They rejected, we resubmitted it.  They rejected it, seven times and finally they paid it, and we never changed a single thing on it," Billion said.

But Billion thinks he'll get his money eventually, it just may take longer than what the government first said.

We can only imagine what language he speaks with his accountants and tax attorneys.

From the Wall Street Journal online news about the chairman of the House Ways and Means Committee Chaiman Charlie Rengel and the really big problems he has had with financial disclosure statements:

When you're a powerful Congressman and working diligently to increase tax rates to pay for President Obama's health-care plan, we suppose it's easy to lose track of one of your checking accounts. That would be the one at the federal credit union with a balance somewhere between $250,001 and maybe as high as $500,000. And when you're crunched for time and pulling together bills to pass in a rush, we guess, too, that you might overlook several other investment accounts, even if some of them are sizable, such as the ones Mr. Rangel missed at JP Morgan, Merrill Lynch, Oppenheimer and BlackRock.

Among other issues, Mr. Rangel is currently under investigation regarding his use of four rent-stabilized apartments at New York City's tony Lenox Terrace and soliciting donations with his official letterhead for the Charles B. Rangel Center for Public Service at City College of New York, which was itself built with a $1.9 million earmark. Yet another part of the probe is his failure to report $75,000 in income from a rental villa at the beachfront Punta Cana Yacht Club, in the Dominican Republic.

Mr. Rangel blamed that last one on the language barrier because he doesn't speak Spanish.

Click the above link to read more about Charlie Rangel's hidden assets and income and discover why term limits that are good enough for the President should be good enough for Congress.  

Coffee, tea or candy? You'll pay more when higher sales tax kicks in

From the Belvidere News Daily

Candy no longer will be taxed at the lower food rate, but at the higher general merchandise rate. It is defined as any food for human consumption sold that has sugar, honey, or other natural or artificial sweeteners in combination with chocolate, fruits, nuts or other ingredients or flavorings in the form of bars, drops or pieces. It does not include any food that contains flour or requires refrigeration.
"You have to be careful to look at the ingredient label," Hofer said. "If it contains flour, it's a food."
Some grooming and personal hygiene products also will be taxed at the higher rate, and the inequitable taxing of similar items will be addressed. These items include but are not limited to body soap, cleansers, shampoo, toothpaste, mouthwash, antiperspirant, suntan lotions and sun screens. The change comes to those products that claim a medicinal value, which had been taxed at the lower rate.


Click the above link to read more.

How does the retailer know which rate to charge?

The answer is flour or refrigeration.

From the Illinois Department of Revenue Information Bulletin issued 30 days before the new rates take affect:

You must check the ingredients label or package. 

If you are wrong about the ingredients or perhaps the candy doesn't have sugar in it?


I guess you punt.  Based on the poor job Revenue has done enforcing the soft drink rate changes from several years ago, you can't really worry about it.

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Health Care Strategies for SELF-EMPLOYEDS

Health care reform is in the news. And for good reason.

Today’s soaring health care costs continue to be a consistent financial threat to all self-employed individuals. The National Coalition on Health Care reports that in 2006, the average family health insurance premium topped $1,200 per month. That’s more than the average family’s mortgage—and health care costs are rising faster than interest rates!

Raising your health insurance deductible just a few thousand dollars can cut your premium by up to half. But that leaves you responsible for out-of-pocket costs. And even if you itemize, those are deductible only to the extent they exceed 7.5% of your adjusted gross income. Is there a way to capture premium savings from high-deductible insurance and tax savings for out-of-pocket expenses? Fortunately, there are two.

Medical Expense Reimbursement Plan

If you have self-employment income, even from a startup or sideline business, you can take advantage of a little-known tax break to save a bundle on your family’s health care costs. Medical expense reimbursement plans (“MERPs”) let you reimburse your employees, their spouses, and their dependents for uninsured medical costs. Plan benefits are deductible by the business, and nontaxable to the employee. Here’s how they work:

You have to establish the plan for employees. If you operate as a proprietorship, partnership, LLC, or “S” corporation, you're considered “self-employed,” and not eligible. If you’re single, you can establish a C corporation and pay benefits to yourself as an employee. If you’re married, you can hire your spouse and pay benefits to them. (If you operate as an S corporation, you and your spouse are both considered self-employed. In that case, segregate part of your income through a proprietorship or C corporation and pay benefits through that entity.)

You have to offer benefits to all employees. However, you can exclude those under age 25; those who regularly work less than 35 hours per week; those who work less than nine months out of the year; and those who have worked for you for less than three years.

You’ll need a written plan document. No special IRS filings are required for plans with less than 100 employees. You’ll deduct benefits as “employee benefits” on your business return, which may also lower self-employment tax bill.

Example: You’re self-employed as a real estate agent. You hire your spouse to provide marketing support, and establish a MERP for his or her benefit. The plan covers your employee, their spouse (meaning you!) and your dependents.

Once you’ve established the plan, you can still deduct 100% of your health insurance costs. This includes major medical and supplemental coverage, Medicare Parts A and B coverage, qualified long-term care, and “Medigap” coverage. You can even reimburse your spouse for any after-tax premiums they pay through their employer.

You can also write off 100% of your out-of-pocket costs and bypass the 7.5% floor for itemized deductions. This includes routine expenses such as co-pays, deductibles, and prescriptions; occasional expenses such as eyeglasses, teeth cleaning, and chiropractic care; and big-ticket items like orthodontics, fertility treatments, and schools for learning-disabled children. It also includes nonprescription medicines and health-care supplies. You can reimburse your employee, or you can use business dollars to pay health-care providers directly.

For more information, see our office.

Health Savings Accounts

Health Savings Accounts (“HSAs”) let you buy high-deductible health insurance to cut monthly premiums, then establish deductible savings accounts for routine medical costs. You (and your employees, if any) can establish HSAs if you meet four tests:

You’re covered by a high deductible health plan (“HDHP”) with deductibles of at least $1,000 (singles) or $2,000 (families) and out-of-pocket limits up to $5,100 (singles) or $10,200 (families). The plan can’t provide any benefit, other than certain preventive care benefits, until the deductible for that year is satisfied. This means no drug card—you’re not eligible if you’re covered by a separate plan or rider offering prescription drug benefits before satisfying your policy deductible.)

You’re not covered by any plan that isn’t an HDHP, either individually, as a spouse, or as a dependent.

You’re not eligible for Medicare.

You can’t be claimed as a dependent on anyone else’s return.

If you qualify to open an HSA, you can contribute 100% of the insurance deductible up to $2,650 (singles) or $5,250 (families). If you or your spouse is age 55 or older, you can make extra “catch up” contributions up to $600 in 2005. (This amount climbs $100 annually to $1,000 in 2009.) If you and your spouses are covered by different HDHPs, you can contribute up to the lower deductible.

Withdrawals for “qualified medical costs” are tax-free. These include any deductible medical expense or nonprescription drug that isn’t reimbursed by insurance. You can use your HSA to pay for qualified long-term care premiums, COBRA continuation coverage, health insurance while you receive unemployment compensation, and Medicare premiums (but not “medigap” coverage). Withdrawals for any other purpose are taxed as ordinary income plus a 10% penalty.
MERPs and HSAs won’t make your visit to the doctor less painful. But they may be the best kind of tax strategies because they give you new deductions for money you’re already spending.

Enjoy them in good health!

What Does Washington Have in Store for Your Taxes?

As you already know, the new administration has spent billions of dollars bailing out banks, insurers, and automakers. Congress and the White House are proposing billions more in new spending to reform health care. The federal budget deficit is now over a trillion dollars. And all that money has to come from somewhere.

Where do you think it will come from? That’s right – your taxes!

If you’re like most successful Americans, you’re already asking yourself questions like these:

How high will tax rates climb?
What will happen to dividends and capital gains?
Will you owe new taxes for Social Security?
Will you owe new taxes on health care benefits?
What should you do today to prepare yourself for higher taxes tomorrow?
If you want to keep the most of what you make, you can’t wait for answers. You need to act now. Putting tax-wise ideas and strategies in place today could help avoid an ugly surprise come next April 15!

Call me today at (217) 241-4597 for your free Tax Analysis. We’ll find the mistakes and missed opportunities that may be costing you thousands today, and discover where you may be vulnerable to higher taxes tomorrow. We guarantee you’ll leave with new information, or we’ll donate $50 to your favorite charity. So call now to schedule your Tax Analysis, and be ready for whatever Washington throws your way!

Ex IRS worker pleads guilty for bribe to "fudge numbers."

From the Las Vegas Sun:

A former IRS compliance officer in Las Vegas has pleaded guilty to accepting a bribe in exchange for preparing a false audit report for a taxpayer.

Fernando Cruz, 43, now of Shady Grove, Ore., pleaded guilty Wednesday to one count of a public official accepting a gratuity. He is scheduled for sentencing at 10 a.m. Nov. 24, said U.S. Attorney Greg Brower of Nevada.

In 2008, Cruz was working as a tax compliance officer for the IRS in Las Vegas. IRS employees are prohibited from preparing tax returns for compensation, gifts or favors and are required to report any attempted bribes to the IRS, Brower said.

In May 2008, Cruz was assigned to audit the individual joint tax return of a Las Vegas couple. At the first meeting with the couple at the IRS office, Cruz provided his personal cell phone number to the woman and told her to call him if she ever had tax questions or wanted him to prepare their taxes.

The couple told their accountant about Cruz's offer, and then reported it to the Tax Inspector General for Tax Administration. The couple also agreed to work with investigators and to have monitored calls and meetings with Cruz.

Cruz went to the couple's home on June 14, 2008 and reviewed the couple's tax records. He told the woman he could "fudge" their tax records so they would have less tax liability.

Cruz coaxed the woman on how to answer questions during an upcoming audit appointment she had with him on June 24, 2008, specifically instructing her to say that she did not have receipts to verify expenses.

Cruz also accepted $500 in cash from the woman and was told that he would receive another $500 if he could make their tax liability go away.

The woman met with Cruz as scheduled at his IRS office. Cruz prepared an IRS income form with the false information she provided. Cruz also mentioned that the woman could help him find an apartment in exchange for his help to the couple on their audit.

Both meetings were electronically monitored.

The maximum sentence that could be imposed against Cruz is two years of imprisonment and a fine of $250,000. He has been released on a personal recognizance bond.

The case is being prosecuted by Assistant U.S. Attorney Nicholas D. Dickinson.

By the way the Treasury Department has just announced a new program to detect IRS employee corruption. We believe that this is a larger problem then the service has been willing to admit. I will never forget the time a client was approached, some 20 years ago, during an audit for essentially the same thing. The auditor offered to prepare my client's tax return in exchange for a better result for his audit. My client was too intimidated to turn her in, but we found out later she was eventually fired by the IRS, but never prosecuted. This attitude of arrogance and invincibility is a tough nut to crack.

Yet another reason government should not run health care

From the Chicago Suntimes the seemingly never ending problems with the "Cash for Clunkers" program continues.

Apple Chevrolet in Tinley Park has pulled back on its marketing for the "cash for clunkers" program.

Why is a car dealership -- in a business known for boisterous ballyhoo -- turning down the volume? Because the government hasn't paid it yet for the deals already made.

"There's a lot of money on the line right now," said dealer John Alfirevich, who added that the government owes Apple $385,000 on 89 deals.

"It makes me very nervous."

Read more by clicking the above link.

I'm from the government and I am here to help you.

Two posts from the Independent Street Blog from the Wall Street Journal dealing with the SBA. The so called ARC emergency loan program is up and running.

Here is a link to WSJ Friday Memos.

Second post reports that banks are finally making SBA Loans again.

Here is a link to WSJ SBA Loan Programs getting back on track.

5 Secrets your bank doesn't want you to know

From Yahoo finance:


Secret #1: For many banks, the most profitable customers aren't the mass affluent -- they're "Joe Lunchbox."

In 1999, the Gramm-Leach-Bliley Act allowed banks, insurers and securities firms to merge, breaking down barriers that had been in place since the 1930s. Following the new law, "if you took all the (deposit) checks written for $10,000 and above, most were written to institutions such as Charles Schwab, Fidelity or Merrill Lynch," says Preuninger. "They took the best customers. The banks were becoming more like Laundromats, where you put money in for a short period because you still needed to pay with a check or (get cash)."

At the same time, loans provided little profit as interest rates remained relatively low, prompting banks to seek consistent, non-interest income. "The focus was on how banks could not only identify fees they could charge, it was how to do a better job of collecting their fees," says Preuninger.

Middle-income customers presented the greatest potential to harvest fees. "There's certainly a customer segment that could be called 'Joe Lunchbox,' who expect to be nickeled and dimed," says Preuninger. "They are managing money from paycheck to paycheck. It's someone who would prefer to pay an overdraft fee to get their mortgage covered rather than get hit by a mortgage provider with a late fee and a ding on their credit score."

Last year, overdraft and insufficient-funds charges totaled nearly $35 billion and comprised about 90 percent of banks' consumer-fee income, according to a study by the consulting firm Bretton Woods Inc. Three-quarters of banks automatically enroll consumers in their "overdraft protection" programs without formal permission, and more than half of banks manipulate the order in which checks are cleared to trigger multiple overdraft fees, according to a Federal Deposit Insurance Corporation study.

"They are going to try to turn the best profit they can, which is why they post in the most attractive way they can while avoiding and minimizing legal exposure," says Preuninger. Someone who overdraws a checking account a few times a year should choose a bank with a program that makes it easy (and free) to shift funds from savings to checking to protect against overdrafts.



Read more by clicking the above link.

New home owner's credit. Don't wait for your refund. All returns prepared for just $88.00

Yes we are open. And yes we do prepare amended 2008 returns so that first time home buyers can get their credit now (up to $8,000.00) and not wait until next year. Your fee>>> $88.00. Regardless of whether we filed your 2008 income tax return previously or not. Call our office to make an appointment.

Click here for more information from the IRS about the first time home buyer's credit.

Our office phone number is 217-241-4597.

Why government should never run healtcare part two

From the New York Times;

“There is absolute frustration across the board,” Alex Kurkin, a lawyer based in Miami who represents several car dealerships, tells The Lede today. “As of this morning, they’re not really confident about any deals, and no one can give them advice about what they should be telling their customers.”

One thing still not clear is how many older cars have actually been sold and scrapped with the original $1 billion, and how many more the new $2 billion will be able to cover. Mr. Kurkin tells us that the government Web site where dealers are supposed to register their deals has been crashing, and the dealers haven’t been able to plug in their information. "

Read more click on the above link

Why government should never run health care

In less than a week, kiss the "cash for clunkers" program is no more. 135 pages of changing and confusing rules. Almost all the money already obligated. USA Today calls it a Fiasco. We call it government as usual.

Click the above link to read the consumerist and note the comments about the problems dealers were having with the paperwork.

Just wait to they get their hands on health care.

Frustrated with some clients

Today I had a chance to visit with two clients that own restaurants. June has been a very tough month for may local restaurateurs. Blame it on the economy. The hot weather. Competition.
In any case, sales are down. Expenses are up. And the future is not looking too bright. One client is seriously looking at closing down their second location just opened a few months ago.

What struck me is the fact that both clients are very good operators. They know the restaurant business. What they don't seem to know or realize is that when times are tough it is time to look at some creative ways to get more business in the door. Both business' were gold mines for some cheap marketing and promotions that in my humble opinion could really make a difference in combating their weakening sales. Sometimes I feel that I am stating the obvious. Things like better signage. Birthday club promotions. Recession specials. Passing out menus to neighbors. Loyal diner club cards. Mailing newsletter to their customers are things that successful businesses are doing to be successful in this tougher business climate. Your customers are not going to accidentally fall into your place of business. You have to give them a compelling reason to do business with you. And you have to tell them your story. Why doing business with you is better than doing it with your competitor down the street.

Sometimes we are so stuck doing the things that we do in our business, that we forget about the most important job we have as small business owners. I call this phase of business ownership doing it, doing it, doing it. Not seeing the forest despite the trees. We work those long hours, for less money, and forget about why we got into business for the first place...to give us more life. We get stuck in the rut of doing it, not realizing that we should be focusing first and foremost on the financial health of our business, which is almost solely dependent on the marketing of our business.

The one job we should never delegate or forget is that we are responsible for the marketing of our business. Each and every day we should be working on how to market our business to our existing and potential clients. The only way we can ever achieve our goal is shake the tyranny of doing it and start to manage our business the way successful small business owners do. These successful business owners focus on their business, and look for ways to move out of the production end, and become the managers of their successful enterprise.

Yes! 50 Scientifically Proven Ways to Be Persuasive

From the web site moskalyuk.com:


Noah Goldstein’s, Steve Martin’s (no, not that Steve Martin’s) and Robert Cialdini’s Yes! 50 Scientifically Proven Ways to Be Persuasive is a pop psych book, where a bunch of research in psychology is distilled into one readable volume.

50 scientifically proven ways constitute 50 chapters of the book, longest of which take 7 pages. The authors take the position that persuasion is a science, not art, hence with the right approach anybody can become the master in the skill of persuasion. So, what are the 50 ways?

Click the above link to continue reading

Customer versus Client

According to Merriam-Webster the definition of a customer is:

1 : one that purchases a commodity or service.

According to Merriam-Webster a client is:

1 : one that is under the protection of another.

Everyone that does business with us is a client. Someone who we focus on giving value and advice instead of manipulating. We have spent more than 25 years falling in love with our clients, not with our business and our services. Taking responsibility for our client's well-being is job one.

We always put our clients best interests ahead of our own.

We think that is why you are our clients and why we have been in business for more than 25 years.

When Blogs Fall In an Empty Forrest

Yes we did disappear for a while. We have been traveling a bit and bit busy. Not paying attention to our blog knitting. This New York Times piece did catch our attention. We have not been posting regularly and we are not alone.

According to a 2008 survey by Technorati, which runs a search engine for blogs, only 7.4 million out of the 133 million blogs the company tracks had been updated in the past 120 days. That translates to 95 percent of blogs being essentially abandoned, left to lie fallow on the Web, where they become public remnants of a dream — or at least an ambition — unfulfilled.

We just hit the magic 120 days and promise to do better. Watch this space.

Slash Your Tax Bill

From CNNMoney.com: "New rules and a new President have changed the tax game. Use these strategies to save on your 2008 bill - and reap even bigger savings in the years to come."

A Guide to Energy Tax Credits

From Mainstreet.com: "If you can't afford to sell your home and you've got money set aside for remodeling, there's good news for you, thanks to the feds."

Three Tips for Getting the Most Out of Your Accountant

From the street.com. Three tips on getting the most out of your accountant.

When to Hire a Tax Professional

Free money finance. com lists several instances when hiring a tax professional, such as our firm, Tax Partners-Budgetax is really the right idea.

The 11 Most Overlooked Tax Deductions

In the next few days we are posting tax tips to help you prepare your 2008 taxes. Here is a link to Kiplinger.com listing the 11 most overlooked tax deductions.