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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 [...]
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The Four-D Time Management Trick to Boost Your Efficiency

Time is our most precious personal resource; once we’ve spent it, we’ll never get it back. As busy entrepreneurs, we seem to have less time than anyone else, so it just makes sense to look for ways to use our time wisely. Here is one technique that has worked for many. The Four D’s When you think about it, there are only four actions you can take against any one of the many tasks you have on your plate: Do it. Delegate it. Delay it. Delete it. As you approach each task Read more [...]
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Updates to the Employee Retention Credit

In early August of this year, the IRS released additional guidance on the Employee Retention Credit.  For 2021, the credit was expanded to allow businesses to receive a credit of up to $7,000 per employee per quarter if their operations were fully or partially shut down by government order or if they had a significant decline in gross receipts. One of the biggest surprises and disappointments to come out of the guidance was the IRS conclusion that wages paid to majority owners and spouses do Read more [...]
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Short-Term Capital Gains vs. Long-Term Capital Gains – What’s the Difference?

Have you ever wondered why gains are separated between long-term and short-term when you receive your 1099 at tax time? There is a very good reason for that, and one you might want to consider more carefully when investing. Short-term capital gains are derived if you hold an investment one year or less before disposing of it.  Short-term gains are taxed as “ordinary income,” the same rate you pay on wages or business profits. Long-term capital gains, on the other hand, are generally taxed Read more [...]