 NEWSWORTHY
Time is Running Out to Claim $1.1 Billion in 2007 Tax Refunds
Refunds totaling more than $1.1 billion may be waiting for nearly 1.1 million people who did not file a federal income tax return for 2007. However, to collect the money, a properly addressed, mailed and postmarked return for 2007 must be filed with the IRS no later than Monday, April 18, 2011.
The IRS estimates that half of these potential 2007 refunds are $640 or more from taxes withheld or estimated payments made during 2007. In addition, many low and moderate income workers may not have claimed the Earned Income Tax Credit (EITC).
The IRS reminds taxpayers that a 2007 refund will be held if they have not filed for 2008 and 2009 or applied to any amounts owed to the IRS, or used to offset unpaid child support or past due federal debts.
Source: IRS.gov
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MARKETING
Mail Chimp: The Good Monkey Business
Mail Chimp can help you create an email campaign s o professional looking that your customers will instantly have a new perception of your business - and it's free.
Mail Chimp's cloud-platform let's you manage your contacts, custom design your messages and track with report analytics tools. The editing tools are professional quality and easy to use, allowing you to create customized messages with almost total creative control. Analytic tools include click and open tracking modes, graphs and bounces letting you know who read your message, who didn't and why.
The free version is good for up to 500 addresses with up to 3,000 emails a month. There are various pay plans including a "pay-as-you-go" option for smaller campaigns. Some of the pay plans allow you use a Geolocation tool that allows you to see where the message was received and also lets you determine the time when the message is delivered.
Getting More Mileage from Marketing Materials
Small businesses typically function with small marketing budgets. Here are some tips to help you get the most from yours:
- Material Mileage: Ad materials should be designed with the goal of versatility and ordered in bulk to be utilized across multiple ad campaigns. This allows you to include ad material in orders, inquiries, direct mail campaigns, etc. The imagery should be suitable to be reused on other ad projects. A "modular" design scheme allows you to cut and paste portions of the ad piece to make changes aimed at your specific market segments.
- Keep It Simple: A taste of success sometimes leads businesses to sink more into their ad by increasing images, colors or the material - but if it worked the first time, don't change it. Trying to look fancy should always come second to trying to be effective. This also means if you decide to hire freelance, you should make sure they stay within the confines of your initial design.
- Sales Copy: Use articles written by yourself or a professional and submit them to magazines, journals, blogs, etc. This will allow you to reprint these articles to use as promotional pieces with and their source serves to support the validity of your product/service claims.
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YOUR FINANCES
Points to Remember for 2010 Taxes
By Randy Hope Steen, Esq.
At this point, you should have received all of your tax information from your employer and any financial institutions. The most important advice is to get all of your information organized and make sure it is complete.
Once you have all of your documentation, take the time to do a dry run of your taxes, and do it as early as possible. This will do a number of things for you. First, you will see very quickly if in fact you do have all of your information compiled. Second, it will give you time to review your taxes, and really make sure you are maximizing your deductions, and taking advantage of all credits available to you.
Top Tips:
- Say NO to money advances, prepaid lines of credit, rapid refunds, or fast money type products. These offers are high interest short term loans, and do not deliver your refunds faster than filing directly with the IRS.
- Utilize all available resources. Do not be afraid to go to the IRS website at http://www.irs.gov. The website contains many answers to frequently asked questions, and in a pinch, you can actually ask the IRS a question directly.
- Claim ALL of the tax credits for which you qualify. For example, the Child Tax Credit is $1,000 for each child up to age 17. Similarly, the American Opportunity tax credit can be worth as much as $2,500, for students in their first four years of college.
Click here to read the full article.
MBA Member Robert Bovarnick, Esq. is a legal columnist for forbes.com, a political columnist for Pennnsylvania Law Weekly and a legal contributor for Fox Business News. The article above is reprinted, with permission, from his online newsletter. Reach Rob at (215) 568-4480.
Save Time & Money with RDC
RDC or remote deposit capture is a method of depos iting your checks via a scanner to your bank over the internet for deposit. The popularity of RDC depositing has grown since its inception five years ago and more than 80% of financial institutions offer it to their account holders.
Here are so more reasons to consider using RDC for your business deposits:
- Time & Money: Immediate savings include the amount of time spent going to the bank to make deposits and money you save on gas.
- Efficiency: Depositing checks faster means that those funds are available sooner, helping to increase your cash flow and respond faster to customer inquiries about payments.
- Security: Depositing electronically alleviates the risk of losing a check in transit.
Click here to learn more about RDC and view webinars.
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FOR THE HOME-BASED BIZ
Productivity Tips for Home Business Warriors
Many home business owners are do-it-yourselfers w ho take care of nearly all aspects of their business.
If this is you, these tips will help you organize your time and boost your productivity:
Breaks: Break time can be used to relax and recharge. Studies show that exercise boosts mental function and creativity. A short walk, jog or a stretch gets the juices flowing and the time can also be spent mentally brainstorming, effectively exercising your creativity too.
Time Savers: Time spent waiting in lines or traffic can be used to answer emails, manage your schedule or return phone calls. Use Google Alerts to have news sent to you and note taking software tools like Evernote will help you save time and reduce desk clutter.
Plan Ahead: Increase productivity in meetings by stating the end time of the meeting at the outset. When taking breaks set up your next task so when you resume work you can jump in without the distraction of excessive planning.
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HUMAN RESOURCES
Motivation by Example
As the leader of your business, it is up to you to set an example for your team. This means holding yourself to the same standard as you do your employees, so keeping them in check means keeping yourself in check.
Here's how:
- Be Responsive: If an employee has a request or question, try to respond to it as quickly as you can - just as you would expect them to do with a customer.
- Give Clear Support: This means publicly making yourself available for questions and for giving kudos to employees when they do good work.
- Share Mistakes: It's helpful to for employees to know that you make mistakes, but even more so that you do your best to mend them.
The Meat of Meetings
Meetings can be extreme time wasters and end up being co unter-productive if not organized properly.
Here are some tips to help you organize and synergize your staff meetings:
- Ice Breakers: This is a good time for questions or a creative exercise to help get people focused on the issues at hand. You can also report company news and announce the agenda so everyone is clear on the focus of the meeting.
- Pick a Format: Depending on what you're trying to accomplish, you may find that breaking into small groups for brain storming is effective, or creating a simple Power Point presentation may help break the pattern of mundane meetings. Guest speakers are nice additions too.
- Atmosphere: Be sure that your meeting space is friendly, comfortable and inclusive so nobody feels excluded. Healthy snacks and water helps people stay alert, but keep snacks simple - you still want the focus of the meeting.
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IT
Free Guide to Social Media Marketing
If you recognize the importance of social networking but don't have the time or know where to begin, Hub Spot can help.
Hub Spot offers businesses online tools and guidance for getting the most from their online marketing efforts and with their free Social Media Marketing Kit available to download, you can learn the basics of social media online. The kit includes three video webinars that cover the importance of leveraging your social media presence, how to measure its success and how to demonstrate its importance to investors. The kit also includes a 49-page quick-reference eBook complete with full-color visuals.
Hub Spot's Website Grader is another tool that offers you a free assessment of your website. Give it try and see how you can improve your web presence.
Ez Texting for Direct Customer Messaging
Ez Texting is an online service that connects yo u with customers, employees and friends via text messaging.
Features like personalized name insertion, customized delivery schedules and sending messages from your phone are just a few ways in which you can keep your marketing efforts current and accessible. Plus, the ability to offer and discontinue the service is simple and easy with subscriber sign-up widgets on e-mails and smart opt-out features.
Ez Texting considers their customer support "unparalleled" offering live chat support during business hours, a five-minute video guide and a 12-step guide to getting started. There are multiple price plans that include pay-as-you-go options, group texting plans starting at $9/month and a free trial.
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NEW MEMBERS
When our member base increases there is more of everything: more creative networking, more benefits and more experienced, enthusiastic business owners. All move our members toward growth, success and the entrepreneurial spirit.
Click here to meet our newest small business partners.
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Unless specifically indicated, MBA does not intend mention of companies, products or services discussed in this publication to be construed to be endorsements. The information in this publication is offered as examples that may be useful to our small business readers. Please consult with an industry professional before implementing any of the tips or subscribing to any of the services described above.
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