From:                              Pro-Active Tax & Advisory Solutions, LLC <updates@pro-active-cpa.com>

Sent:                               Tuesday, January 31, 2012 8:45 AM

To:                                   Mark Wyssbrod

Subject:                          February Action Steps & Update: Good News, Bad News, We Are All Confused

 

                     Proactive Updates

 

Volume 4 | Issue 2

February 2012

 

Calculator

 

Good News, Bad News, We Are All Confused

Creative Ways for Finding New Solutions

 

pie chart economyDoes it feel as if we are in a soap opera? When looking back at the past few years I feel as if I have been on an economic and emotional rollercoaster ride! Talking with clients and business associates, a series of consistent questions emerge: Will my business have revenue; if it has revenue, will customers pay; if clients pay how do I find the right staff?

 

The emotional swings are even more in depth and challenging. These wild swings are between optimism, pessimism, hope, victory, frustration, stress, and survival. Combine these together and you need to be careful not to become irrational.  The human mind wants stability, of which our current economic climate does not provide.
 

 

So why do we ask these questions and feel these emotions? The media seems to enjoy feeding on fear and greed. Most sales trainers I know understand mentioning fear and greed are what grabs our attention the most and, therefore, make the most effective marketing strategy.

 

Although good news and bad news is being reported everywhere we turn, none of this news is completely true and none of it is completely untrue. Like all stories, it is just a perspective and attitude that is being reported. And it is just perspective and attitude as to how you decipher the information.

 

For a second month in a row, I would like us to focus on our attitudes. This is more than if the glass is half-full or half-empty! It is critical for providing creative solutions and determining how you want to use your time.How can we think of new solutions if we do everything the same?

  • A Vicious Cycle
    • Complaining results in more complaining
      • Once you begin this habit or surround yourself by people complaining (without offering solutions) you will begin to and continue to complain (without offering solutions) until your mindset is changed
        • Mindsets are difficult to change, especially a mindset from pessimism to optimism
        • A mindset change generally only comes when something significant occurs
    • When I was a child someone told me is it OK to complain as long as I have three (3) solutions for each complaint (otherwise I was to remain silent!)
    • Be careful when complaining without solutions
      • Have you ever been around someone who complains all the time?
        • It is not too much fun is it?
        • If this is you, do team members, vendors and customers want to work with you?  
  • Solutions
    • When you focus your energy on solutions, you become hopeful and more optimistic
    • You form a "yes I can" attitude
    • Your mindset is the key to utilizing your own, as well as team member skills
    • You can form new and creative solutions by changing your environment
      • Try something new
      • Learn something new
      • Keep an open-mind  
  • Action Steps
    • Find something to be thankful for daily (health, new client, still in business, etc.)
      • Say your thanks out loud in order to make sure you hear it and\or pray being thankful for it
      • Try to do this a few times a day or even hourly or as an event occurs
    • Find the "good" part in every event, especially the ones which upset you
    • Believe in yourself!
      • Remain confident and humble
      • Your hard work will not always be rewarded or appreciated
        • You need to stand for something; tell yourself you took the high-road, and you did the right thing, which is more important than others wronging you
    • Surround yourself by other more positive people
      • Keep your environment a "yes I can"; you will strengthen yourself and others by surrounding yourself with similar attitudes
    • Volunteer
      • Many individuals believe there is a very self-fulfilling feeling by helping someone in need

 

 

Deadline Reminder

Important Dates to Remember

Reminder

  • February 20 - Sales & Use Tax Returns Due in Georgia
  • February 29 - Form 1096 and 1099 Due to IRS
  • February 29 - Form W-2 and W-3 Due to IRS
  • March 1 - Business Personal Property Tax Returns due for Georgia Counties
  • March 15 - Corporation (S & C) Tax Returns Are Due (for annual tax filers)
    • File Form 7004 For Extension
    • Employer RetirementMatches Due
  •  April 1 - County Business Personal Property Tax Return Due

 

IRS Circular 230 disclosure:  To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein

 

In This Issue

Good News, Bad News, We Are All Confused

Deadline Reminders

Ratio of the Month - Gross Profit Margin

 

 

Financial Ratio Of The Month -  Gross Profit Margin   

 

Gross Profit Margin indicates the percent of revenues which is paid out for direct costs. It is a measure of operational efficiency. It can be used in business planning because it indicates how many cents can be generated from each dollar of revenue.

 

Gross Profit Margin = (Revenues Less Direct Costs) / Revenues

  

A small improvement in the Gross Profit Margin can have dramatic improvement in the Net Profit. The higher the ratio the better!

 

 

Contact Information

 

11770 Haynes Bridge Road

Suite 205

PMB 362

Alpharetta, Georgia 30009

 

phone:

(770) 664-8583

 

fax:

(678) 762-9413

 

www.pro-active-cpa.com

 

 

 

This email was sent to mark@pro-active-cpa.com by updates@pro-active-cpa.com |  

Pro-Active Tax & Advisory Solutions, LLC | 11770 Haynes Bridge Road | Suite 205 PMB 362 | Alpharetta | GA | 30009