6 Tax Tips For Charitable Giving
Richard Lipton, founder of Lipton CPA & Associates, says if you make charitable donations and want to claim a tax deduction for your gifts, you must itemize your deductions. He offers the following tips for giving business gifts to charity.
Wright’s Automotive: Protecting And Preserving A Legacy With A New Owner
An independent automotive service business can be so much more than bricks and mortar, equipment, employees and a source of revenue. It can also be a source of pride – a testament to a lifetime’s worth of hard work. I sometimes share case studies of the clients I have been able to assist in my role as an aftermarket business broker and provider of intermediary and advisory services. I do that when I think the story will provide a reader in similar circumstances with new insights or helpful information.
Specs For Social Media Accounts
By now, we should be well past the things I heard as recently as two years ago: “Social media is just a fad,” “No one will follow a tire dealership on Facebook,” and “I don’t care what you had for dinner, and I’m sure you don’t care where my wife and I went for the weekend either.” These were the kinds of things people would say to me without a full understanding of the transformational change social media was having on society and the fundamental shift in the way we communicate with each other.
It’s Time To Get Hyper
There’s no doubt that consumers’ online activity has made a massive, lasting impact on marketing strategy. More than 2 billion consumers go online regularly, thanks to exponential growth in connectivity and devices like smartphones and tablets, according to a recent Google study entitled, “Brand Engagement in the Participation Age.”
Tax Strategies For Auto Repair Shops
Shop owners who are focused on serving their customers and operating efficiently are taking a little extra time to also get their financial house in order. They realize the value of the ABCs of a well-managed business: A for attorney, B for banker and C for CPA. These trusted advisers could help you focus on your customers and your business, while also ensuring you operate legally, effectively and profitably.
7 Business Building Tips For The Holiday Season
Now that we are coming into the holiday season, there are a number of things you can do to drive up productivity, sales, customer satisfaction and profits. Each one of the below tips worked wonders for me when I was still in the auto repair business, and they are still effective today for many of our coaching clients, so I know they can work for you as well.
Be Careful Not To Make A Sale For Your Competition
A few years back, my service advisor was speaking to a customer about the condition of her tires. He explained in detail that the tires on her car were worn to the point that she needed to replace them and recommended that she do this before the winter. She believed my service advisor and was thrilled he took the time to educate her. But, he forgot one important part of the sales cycle; Asking for the sale.
A SIMPLE Retirement Plan For The Self-Employed
Of all the retirement plans available to small business owners, the SIMPLE IRA plan (Savings Incentive Match PLan for Employees) is the easiest to set up and the least expensive to manage. These plans are intended to encourage small business employers to offer retirement coverage to their employees. SIMPLE IRA plans work well for small business owners who don’t want to spend a lot of time and pay high administration fees associated with more complex retirement plans.
Do You Know Your Shop’s ‘Sellability Score?’ Part 2
“Sellability” is a powerful indicator of the value of your business, regardless of whether or not you have any intention or even interest in selling your business today. A high Sellability Score may confirm or surpass the value you have in mind. A lower Sellability Score may point directly to the underlying issues in your business which undermine its value.
Are Your Salespeople ‘Winging It’ On The Phone?
Each and every interaction your salespeople have with potential customers on the phone is an opportunity to enhance customer relations, the image of your business and increase sales. So, be honest, are your salespeople properly equipped to optimize each and every phone interaction they have with potential customers?
Year-End Tax Planning For Businesses
While the fate of several business-related tax extenders such as R&D credits, bonus depreciation and Section 179 expensing that expired at the end of 2013 is uncertain, there are still a number of end of year tax strategies businesses can use to reduce their tax burden for 2014.
What You Need To Know About Selling Struts
Just when I thought I was doing everything that I could to increase sales, I learned something very important: I very rarely sold struts or shocks. Basically, I really didn’t know when struts or shocks were bad until they completely failed. I’m finding that my clients, and most shop owners who I speak with, don’t know either.