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How to Reconstruct Tax Records After a Disaster

While it’s not always possible to prevent an emergency, you can reduce the likelihood that an emergency will become a disaster by being prepared.  Here are some tips to do just that. Store your documents in a waterproof and fireproof safe that is convenient to access. Make copies of your important documents—store paper copies in a different location than the originals. If making digital copies, store them in the cloud and/or on a portable storage device Make an inventory of your documents—critical Read more [...]
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Understanding Sales Conversion Metrics

How effective is your sales function in your business? One way to answer that question at a deep level is to calculate conversion metrics for every step of your sales cycle. These numbers are not tied to any numbers on your balance sheet or income statement, but can help you realize a better return on your sales and marketing expenses. Your Sales Cycle The sales process is different for every business. If the dollar amount of the customer purchase is small, the sales cycle needs to be very Read more [...]
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The “Dirty Dozen” IRS Tax Scams

Each year, the IRS unveils its list of scams that target unsuspecting taxpayers.  Below are five of the most common tax scams impacting taxpayers today, as well as tips to not become a victim: Fake Charities are created to exploit natural disasters and other situations such as the current Covid-19 pandemic. Criminals set up fake charities and solicit donations by telephone, text, social media, or email.  The fake charity might have a familiar-sounding name, tricking the taxpayer into thinking Read more [...]
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The Power of Thank-You Notes

As we approach the holiday of giving thanks, it’s the perfect time to think about how we can use thank-you notes in our businesses and lives to express our gratitude to others. When to Say Thank You  There are many opportunities in business to say thank you: When a client or associate sends you a referral that results in business When an employee goes out of their way to fix a problem or make a customer happy When a customer makes a large purchase When a vendor over-delivers Read more [...]
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What You Should Know About Required Minimum Distributions

With all the legislative changes related to retirement distributions over the last couple of years, it’s important to have a clear understanding of what to expect for the current year.  In particular, it’s critical to know what to expect with Required Minimum Distributions (RMDs) for tax year 2021.  RMDs are required distributions investors over a certain age must take out every year from their retirement savings accounts. As part of the SECURE Act of 2019, the age when RMDs are required Read more [...]