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January is the time to wrap up the old and start with the new

on January 6, 2012 in Chairman's Circle, Uncategorized

This goes for all your 2011 and 2012 tax, accounting and bookkeeping work as well.

Now is the time to meet with your tax accountant, if you haven’t already, to calculate your tax estimate for 2011 so you can avoid penalties and interest for not paying your tax on time.  Remember, for self-employed individuals and partners or shareholders who receive K-1 income, January 17th is the due date for your 4th and final 2011 estimated tax payment (Form 1040-ES).  In addition, good planning now will help you avoid a big tax bill surprise in April regardless of whether you are self-employed or not.

Also, be sure when finalizing your bookkeeping for 2011 that you include any business mileage driven for the year.  Remember commuting mileage from your home to your work place is not deductible business mileage unless you have a home office that is your primary place of business. I have found the easiest way to accumulate mileage information is by including deductible mileage on my calendar throughout the year.  This method serves two purposes, first, to assist in the end of year calculation (it’s easier if you keep up with it while you are thinking about it or scheduling appointments), and second, to have documented support of your mileage if audited.

The IRS standard business mileage rates for 2011 were 51 cents per mile from January 1 to June 30, 2011 and 55.5 cents per mile from July 1 to December 31, 2011 (note, these same rates have been extended for 2012).    Other mileage that is potentially deductible includes charitable miles driven, medical mileage and if you have moved 50 miles or more for a new job.   Please consult your tax advisor and/or www.irs.gov for additional mileage rates and eligibility information.

Mark your calendars now for these important 2012 Tax Deadlines!

  • Tuesday,  January 17th Final Estimated Tax Payment for 2011 due for self-employed individuals and partners or shareholders who receive K-1 income (IRS Form 1040-ES).
  • Tuesday, January 31st Form W-2s for all employees and Form 1099′s for non-corporate service providers paid $600 or more in 2011  need to be postmarked today.  And, NEW for 2011, if you own rental property and paid non-corporate service providers $600 or more in 2011, you are now responsible for filing Form 1099s (this includes contractors, plumbing repairs, landscaping, cleaning services, etc.).
  • Thursday, March 15th 2011 corporate tax returns are due.
  • Monday, April 2nd 1st Quarter 2012 payroll tax reports are due.
  • Monday, April 16th 2011 individual and partnership tax returns are due.

Finally, start now to get a good financial system in place for 2012.   If you are not already, I recommend that you start with keeping track of your finances on a monthly basis, preferably using an accounting software system such as QuickBooks or Quicken.  Once you have perfected a monthly accounting system, then add your spending plan (alternatively, your “budget” which sounds restrictive, doesn’t it?  thus my preference in using the words “spending plan”).   And, finally, review your actual results to your spending plan each month to see what you have accomplished.  This is also the time to make updates and/or corrective actions for future months, if necessary.

Also, if all this advice is overwhelming and you regularly procrastinate with your finances, you need help!   And, please don’t beat yourself up because you definitely are not alone, I see it all the time in my accounting practice.  The difference is that the people who succeed in the long run, make small steps on a regular basis to improve their financial systems and ultimately their financial situation.

So, if that means hiring an accountant, a bookkeeper or a virtual assistant to help keep you on track, then do it!  This is the year to be proactive and get ahead of the game regardless of 2011 or years prior!   And remember, there is absolutely nothing wrong in asking for help!

Best wishes for a successful and prosperous new year!

Deidra Mills Ryan, CPA
Texas CPA Firm owner & QuickBooks Proadvisor
DMR Accounting & Consulting

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Goodbye 2011! Hello 2012!

on January 5, 2012 in Chairman's Circle, Motivation & Inspiration, Uncategorized

Wait a minute… Did I forget anything?
Over the holidays, as my family gathers to celebrate, we always sit down to watch a few good movies together. This year, my mom and I watched “Pearl Harbor.” In one of the scenes, droves of planes are seen flying over Hawaii, bombing and shooting everything in sight.  People are running for their lives in all directions, not knowing if they will live or die. This vivid picture stuck in my mind.  Later, while I was walking the dog, that scene came back to me and I thought to myself,

“If bombs were falling all around me right now, is there anything I would regret?  Is there anything that I should have done this past year that I haven’t?

Immediately the thought popped into my mind, “You should have talked more on The Value of a Life.”

As a motivational and inspirational speaker I spoke in November of 2011 on how precious the gift of life is, and how every life starts with such wonder and opportunity ahead of it.  As we grow up, I believe our job is to discover just what our purpose is in life and ultimately make the personal contribution to this planet that we are destined for.

Ok… so it’s not like I haven’t put forth a full-fledged effort in trying to fulfill my own purpose and inspire others to do the same.  With that in mind, I showed the film, The Glow Project in my city because I believe whole-heartedly in the importance of living your purpose and being in GLOW!  I’m also about to launch a teleseries on The Master Plan of Achieving Your Goals specifically designed to help people determine what steps are necessary to get to where they want to be in life, and optimize their chances for success.

Yet, somehow, I am still compelled to deliver that message to a wider audience.  It’s as if I haven’t reached everyone who’s meant to hear it… The Value of a Life.

In a recent keynote, I talked about how prescription drugs were robbing our young people of the opportunities that lay ahead for them to discover what they are meant to do with there lives and do it!  But now I’m thinking,

“What about the rest of us who aren’t battling addictions, but still aren’t doing anything to move forward with our lives and make the contribution we are meant to?”

Time is precious… and it’s running out…  So I ask You,

If bombs were falling all around you right now, is there anything you would regret?
Is there anything that you should have done in 2011 that you didn’t?

If you really want to know the answer to that, I challenge you to throw that question out to the Universe, and listen for what pops into your mind immediately.

Then, start off this New Year with that thought as #1 on your “Things To Do” list.

Don’t shut the door on 2011 with important unfinished business that the Universe is bringing to your attention.
For 2012…

  • Recognize that your life is valuable, and how you spend it is important.
  • Make it a priority  to discover your purpose.
  • Begin taking the steps necessary to make Your contribution to this world.
    Start today!

It all begins with a step in the right direction.

“One foot in front of the other, one step at a time, one day at a time. The days turn to weeks and the weeks to months.  Sometimes the months even turn to years, but eventually you will get there. “ -Gail Sullivan

Gail Sullivan is the CEO and founder of BECAUSE WOMEN, a company committed to helping established businesswomen reach the next level of personal and professional success through quality conferences, workshops, forums and events.   With the help of eWomen Publishing, Gail published her first book in 2010 entitled The Yellow Brick Road: A Woman’s Journey to the Edge and Back.  Continuing this theme, Gail is launching a series: The Yellow Brick Road:  Paving your Way to Success, Brick by Brick.  Brick One is a teleseries entitled:  The Master Plan of Achieving Your Goals.  Gail is a Platinum Member of the eWomen Network Chairman’s Circle 2011 – 2012.

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SMART WOMEN BUY… They hold the Purse Strings

on December 1, 2011 in Chairman's Circle, Uncategorized

There is no question that women buy, purchases by women total trillions of dollars annually.

But, what you may not know is that, quietly and steadily, the number of women making six figures or more is rapidly increasing. Currently, over fifteen million women make $100,000 or more, and the number continues to rise at a rate faster than for men. These women come from every industry.

Just how powerful is the female market?

  • In the U.S., women decide $4.3 trillion in consumer spending each year.
  • Women comprise 51.4% of the U.S. population, but make or influence 85% of all purchasing decisions.
  • Women make 80% of healthcare decisions and 70% of travel decisions.
  • Women purchase 65% of new cars and 53% of used cars.
  • Women make or influence 57% of all electronics purchases.
  • In 31% of  marriages where women work, they out-earn their husbands.
  • Single women buy homes at 2.5 times the rate of single men – one out of every five homes purchased (20%) is by a single woman.

Working with women the last seven years I have learned some very valuable information.  They must TRUST and RESPECT you first and foremost. Trust begins with the eight seconds you have to make a good first impression. They don’t want to be pushed to close the sale or overwhelmed with too much information.

To earn their TRUST talk with them, not at or to them. Have a real conversation and show them the authentic you and that you are not just interested in the transaction. Start building that trust by actively listening to them. Treat them as equals and acknowledge that they matter. Learn where they’re coming from and where they want to go.  Continue to ask questions until you have a clear picture of what they need. When women think and feel they’ve been heard and understood, they will be ready to trust. They must trust you before they will move toward a purchase.

Empower them, build their confidence, and support them. Focus on helping them determine the solution.  Give them limited options and use examples and stories to reinforce your recommendations.

Always create a long-term relationship that allows for follow-up. The road to TRUST with women is not a one-and-done path.  It takes time and sustained effort to build and keep the relationship,  but the referrals will be worth it.

Join the conversation! What are some ways you build TRUST in your relationships?

Post by Jeanie Douthitt

www.smartwomenbuyhomes.com

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3 Ways to Be Found

on November 29, 2011 in Chairman's Circle, Uncategorized

All things have changed about connecting.  Whether you need a job, a tree trimmer the way we find anyone or thing has changed.

Here are 3 Ways that you can improve the odds of being found or finding those who need what you have to offer!

 

  1. Turn Your Light ON –  from a business perspective, job seeker or service provider putting your business information on Linked in is a great investment . Your professional profile makes you socially credible.
  2. Use KEYWORDS – If your title does not explain what you do – then use the words that would describe your experience or service. If people do not know your name then use the words they would use to find you.
  3. Rinse and REPEAT OFTEN – now that you have your keywords do a search on linked in looing for yourself using only key words.  Here is a trick to get you to the first page of any search…. look for the words that are highlighted in yellow on the peoples profiles on the first page, these are your key words.  Count how many times they used the same word and use that word ONE MORE TIME.  Now…you come up on TOP!

You are now FOUND!

All the BEST!

Vikki Loving

InterSource Recruiting

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How Your Brand Strategy Impacts Your Products, Services & Revenue

on September 28, 2011 in Chairman's Circle

We’re teaching you today. Here’s a lesson straight from one of our coaching sessions with a client who was trying to figure out how to monetize her expertise when she was suddenly forced into transition. Sound familiar? Learn the basics of brand strategy, and more importantly how to evaluate your product offering to make sure that you will be delivering a scalable product for the fastest money. Soon, you’ll hear from us on how to make sure you are maximizing profits from this same offering. Watch and take notes:

This is one of many examples from our Heart & Sold program. Learn more about the full program that grants you access to us as your online coaches for an entire year by clicking here. If you want to share this training on your own site, feel free to use the embed code, but please give credit with this blurb: ” This video training was brought to you by success coaches and speakers, Aly and Andrea, of AlyandAndrea.com . As identical twins, Aly and Andrea have educated and empowered women in the USA, Canada, and UK to generate multi-millions of dollars in revenue across multiple industries. Together and individually, Aly and Andrea have overcome incredible life-challenges including blindness, poverty, divorce, and cancer to become an award winning international business owner, TV actress and spokesperson, authors, speakers, World Champion and All-American athletes, Olympic torch bearer, and cancer survivor. Aly and Andrea are Premier Coaches for eWomenNetwork, aptly named among “the best coaches in the country. Connect with them on Facebook , Twitter , or their site . ”

Aly & Andrea
Where personal development meets business mentoring for women.

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Philanthropy…The Missing Link in Your Business?

on July 7, 2011 in Chairman's Circle, Education, eWomenNetwork Foundation, Motivation & Inspiration, Women in Business

Gail Sullivan, Founder & CEO of  BECAUSE WOMAN, LLC

Philanthropy… The Missing Link in Your Business?

I recently attended a businesswomen’s luncheon on “Giving Matters” and heard one of our community’s most distinguished philanthropists state, “The joy of living is in the joy of giving”.

Surely you have heard the old adage that is sometimes described as the Principle of Giving:

“Give and it will come back to you – good measure, pressed down, shaken together, and running over.”

Many of the happiest and wealthiest individuals that I have met over the last several decades have commented that the “key” to their success has been in their generous giving.

Personally, I wouldn’t have it any other way, and that’s why philanthropy is one of my company’s key components.   Consider the following ways to add value to your company through giving, and watch for the positive returns

5 Ways to Add Philanthropy to Your Business Plan

1. Put together a Philanthropic Budget.

Consider setting aside a portion of your monthly business income to be specifically used for philanthropy.  There is a vast range of non-profit organizations in every community that could use your help.  Every gift, great and small will be considered a blessing.

It’s so easy to say, “ I don’t have any money.” But then, when I think of how easy it is to waste dollars at a time on things that don’t really matter (like those daily fancy coffee drinks that are filled with calories that I’m trying to avoid or the newest office supplies that are bought in excess and never used). Contrary to all that, my philanthropic giving can help organizations achieve something that really does matter.  You know what?  I’m embarrassed that I haven’t given more and more often.  Now is the time to change that!

Not enough cash flow?  Consider budgeting your philanthropic services.  501c3 organizations always appreciate service gifts.  For example, the local catering company caters 2 big non-profit fundraising events a year; a florist supports her favorite charity by providing the centerpieces for their annual fundraising event; and an entrepreneur of a local hair salon provides free haircuts, on the Saturday before school starts, to kids in a lower income neighborhood. What an awesome way to contribute!

2. Volunteer.

Philanthropy can also be in the form of service. Consider volunteering to help out at an annual event for a cause that you are passionate about.  This is something that you can do personally as well as getting your employees involved.  You will be amazed at how many people will join with you in your efforts to give back to the community.

For the last several years I have joined our local Boys and Girls Club to help hand out gifts to the children at their annual Christmas party.  The first year my two daughters joined me.  The following year several co-workers decided to come with me and continue to give to this day. Eventually the company I worked for became a sponsor of one of their annual events. It appears that philanthropy can be contagious.

3. Master the layups.

There are many community organizations that provide some of the most basic essentials for people in need.  All of us can make a huge difference just by consistently giving our gently worn clothing to the Goodwill, or extra food to the local food bank.  Consider having a seasonal giving drive for these events right in your office.  Allow clients to participate and accept donations as well. These are easy layup shots that any business can incorporate.

4. Take it to the next level.

Do you sometimes feel that your gift is so small and wonder what good could it possibly do?  A giving “team” boosts donation dollars to the next level. That’s right, get others involved… family, friends, co-workers, clients and even prospects. Does your company hold any type of annual event?  Consider adding a raffle in which all the proceeds go to a chosen non-profit group or cause.  Allow all attendees the opportunity to participate.

I recently held a company event and had determined to give a percentage of the income to a local cause.  I was disappointed when I realized how small that donation would be. I decided to brainstorm about how I could give more. I took a third of the money I was going to give and bought an amazing raffle prize for the event and announced where the proceeds were going.  The donation ended up being almost 3X what I was originally going to donate. Bravo!

5. Never underestimate the value of a small gift, and don’t hold back on giving a larger gift when you know the time is right.

“Despise not the day of small things!” Everyone starts somewhere. Become a consistent giver in the small opportunities that exist, and over time, you may develop into an experienced, generous philanthropist.

As you begin making philanthropy a key component in your company, begin to notice what happens.  Time and time again, I end up with so much more in return.  The effects are amazing!  The people I work with seem happier.  Somehow, this “giving” component allows for something great to occur in the workplace.  Goodwill manifests itself and my clients and prospects like that.  My business begins to change, for the better.  I feel like I begin to change for the better. And all this just makes me want to give more.

Recent research also shows that there is a correlation between philanthropic giving and sales.  (Network for Business Sustainability, Use corporate philanthropy to grow your top and bottom line, Source:  Strategic Management Journal, How corporate charitable contributions enhance revenue growth. (2009) Baruch Lev, Christine Petrovits and Suresh Radhakrishnan)

If you are attending the eWomenNetwork Conference in Dallas this month, you will witness firsthand the impact of generous giving.  Throughout the year there are many opportunities to give to the eWomenNetwork Foundation.  You will be inspired at how your philanthropic contributions can accomplish great things!

 

 

Gail Sullivan is a Platinum Member of the Chairman’s Circle

 

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Take Your Mind off Auto-Pilot – It Really is a Choice!

on July 2, 2011 in Chairman's Circle, Education

Guest Post by Becky Shook-Wotzka, Fairway Divorce Solutions

If we choose to focus on the past, then we cannot live in the present. Likewise, if we choose to focus on the future, we cannot be present in the now.   In my practice as a divorce negotiator and relationship coach, I recently worked with a couple who were in the earlier stages of a relationship. His biggest complaint:  she was focused on her prior marriage and all the things that had gone wrong.  So?  Shouldn’t we be supportive of our spouse if he or she is having emotional difficulties? Of course.  However, here is the profound lesson for any relationship.

Usually, a sure sign that we are negatively focused on the past is the feeling of fear or guilt. A sure sign that we are focused negatively on the future is worry. While all those feelings are real and certainly do show up after any relationship has ended, if they take too much space in your day, then you are destined for a very slow emotional recovery.

OK, but how do you snap yourself out of it? The answer is honestly much too simple. STOP thinking and TALKING about it!  The first step to emotional recovery is to stop the storytelling to friends and family, and most importantly to stop the negative self-talk. Even if you are totally tempted to sit and stew over the injustices that have been done against you, stop yourself. Choose a person who you can ask to snap you back into the present when you are getting stuck.  Call the person, and say “I’m stuck.”  That person should ask you the following questions.  “Where are you right now? What do you see?  What is right in front of you?”  This shouldn’t include your thoughts or your emotions.  It’s about what’s really happening right now in the tangible reality of space.

As you begin to stay more present-focused, you may be able to snap yourself out of the past by saying the word out loud “STOP”, and then refocusing yourself on what is around you.  Are you driving down the road?  Do you see the cars around you? What about the trees with beautiful leaves?  What establishments do you see that might be of interest?  In time you will notice that the amount of time that your brain is occupied with destructive thought will diminish. Remember it takes 30 days to break a habit and believe it or not – negative thought is a habit. One day you will go to bed and realize that you did not think about it once that day. That is a sign that your heart has opened and you are truly on your way to achieving a Clean Break.


Becky Shook-Wotzka is a Gold Member of the Chairman’s Circle

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