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New Identity Theft Targets Social Media

Author: Allyson Huggett

When you start your business you put a lot of time, money and energy into creating your business identity. Now, thanks to hackers and unscrupulous business owners, your branding, online reputation, and social idendity may be at risk.  This is especially true if your business uses online social media and review sites such as Yelp, Google, or Facebook.  Hackers today are creating chaos for business owners by posting erroneous or harmful content on these sites with the sole purpose in mind of damaging the businesses involved.

With social media a huge part of business marketing, having positive or negative comments and reviews can have a major impact on your business.  Consumers today rely on positive reviews when making decisions on where to take their business.  Having a negative review, even if it is a false review, can impact those decisions also.

As this type of business identity theft grows, it is imperative that your business keeps an "eye" on what is posted online. Listed below are a few ways to do this.

Consider using a reputation management service.

Reputation management has become it's own thriving business.  These companies take the time to monitor the most popular social media sites, correct inaccuracies in listing, and alert you to reviews both positive and negative.

Create a social presence.

If you haven't created social media accounts for your business now is the time to do so. Having these accounts in place prevents other people from creating accounts in your name. Keep control over what is being posted on your behalf.

Check your business listings.

With so many different options to list your business on, it is imperative that you know where your business shows up online.  Be certain that the listing is correct, with address, contact information, and hours of operation.  Be sure to search frequently to see if new listings have popped up.

Taking a pro-active approach to maintaining your online reputation is a must.  There are an abundance of online tools created for this purpose, such as Google Alerts.  With these tools you can be updated whenever your business name is mentioned online. While time consuming, your other options are limited.  Be aware of your social identity and act promptly when your business is listed, mentioned, or used in online posts. Should you have any questions, please contact the Tax Office, Inc.

New Forms May Holdup Your 2014 Tax Refund

Author: Keith Huggett

The IRS has added a new form to be completed for tax year 2014.  If you were successful in signing up for healthcare benefits required by the Affordable Care Act, you are now required to send in form 1095-A, which you can get from the Health Insurance Marketplace. Please be aware that this example is a draft, not the form to file.  Form 1095-A  will list all of the individuals in your household who receive the benefits and how much the government has spent subsidizing their premiums.

The Health and Human Services Department (HHSD) will be in charge of issuing the forms.  The lack of confidence in the HHSD primarily stems from the difficulties associated with the ACA website. Justifiably, tax professionals are concerned about their ability to have all the forms out and in the hands of the millions of Americans by the January 31st deadline.

1095-A provides information you need to complete Form 8962, Premium Tax Credit (PTC). You must complete form 8962 and attach it to your tax return if you wish to claim the Premium Tax Credit or if you received premium assistance through advance credit payments. If you or your family members enrolled in more than one qualified insurance plan then you will receive a Form 1095-A for each plan.

States who operate their own health insurance marketplaces are also required to issue their own forms to those receiving their benefits. Though the biggest responsibility falls on the shoulders of the HHSD to get the forms to the individuals residing in the 36 states that it serves.

Remember, this form only applies to those Americans who were able to sign up for health insurance through the healthcare exchange.  If you obtained your health insurance elsewhere, this does not apply to you.  If you have any questions regarding this form, or your tax return, please contact the qualified tax professionals at The Tax Office, Inc.

Scanning Your Receipts Can Save Your Deductions!

Author: Keith Huggett

Throughout the year, we wine and dine our customers in the hope of building our businesses.  We take trips to conferences to further educate ourselves, to learn of upcoming expansions in software, laws, or simply the field in which we work.  During this time we collect receipts. TONS of receipts. In the US alone, we use 640,000 tons of thermal receipt paper per year. What do we do with those receipts? We put them in our purse or wallet. File them in a box or folder. Hopefully, we scan them so that they remain in pristine condition. But, what happens to the actual receipt? It fades...and fades, until it no longer exits, and is only a blank scrap of paper. When it gets to this stage, it is of no use to you.  It can no longer be used to substantiate the business dinner with your client, or the conference you went to in New York.  Travel and Entertainment deductions are some of the most difficult deductions to substantiate.

To help prove your case, should your return be audited, scanning your receipts is your best option. As most people carry a cell phone with them, there are several apps available that can help you by using the camera portion of the phone. Here are just a few choices:

Iphone:  Scanner Pro
             Genius Scan

Android: CamScanner
             Genius Scan

Information that you should include with your receipts:

1. Who you entertained
2. Why you entertained this person or people

The receipt should include this information:

1. The date of the engagement.
2. The location of the engagement.
3. The amount spent.
4. What was involved in the engagement - i.e., dinner, golf, etc.

While keeping the original receipt is necessary, it is always in your best interest to keep a backup copy.  In your business, you backup your computer for those "just in case" emergencies that you never want to happen.  Keeping a digital copy of your receipts is the same thing. It also makes things much easier for your accountant, come tax time.  If you would like advice on digitizing your receipts, the tax specialists at The Tax Office, Inc., would be happy to assist you.  If you are not tech savvy, The Tax Office, Inc., can take the scanning off your hands with one of our bookkeeping packages.  Contact us today if you would like to discuss either receipt maintenance, bookkeeping, or if you have any tax related questions.

 

Using Your Fax To Generate New Business

Author: Allyson Huggett 

While most faxes are sent and received via email these days, it is still possible to generate new business using your old, reliable fax machine. Over the years, we have sent well over 10 million faxes, proof that you are getting your message out to the people you are contacting.  So why not use your fax machine/e-fax to send out your marketing materials? While effective, there are laws governing using your fax for advertising purposes. Here are some reasons why fax advertising is effective...

• Delivery is instant.
• You can use a "fax bureau or bulk fax service" to send your fax.  In 30 minutes 200,000 faxes can be delivered.
• A bulk fax service also has their own list of companies which can be broken down by industry, postal code, number of employees, etc...
• Depending on the volume of faxes you send at any one time, you can pay as little as a few cents per fax. So for 10,000 faxes you could pay less than $100.
• Because delivery is instant, you can expect to receive responses within minutes of the faxes being delivered.

How does this differ from an email blast?  Some people still don't use email, believe it or not. However, they may have a fax machine.  You also do not need someone's email address to send to. All you need is a fax number.  You should never send out a "fax blast" on a Monday or a Friday, and time the fax to be sent between 11 am and 3 pm. For maximum success, your marketing piece should look like it has been "ripped out" of a publication and sent by a friend.

Don't forget your customers either run companies or work for them. Send the fax to companies where your target market work and you can still generate good results.

Should you have any questions, please contact the specialists at The Tax Office, Inc.  We can help you determine your target market, design your marketing materials, headlines, or discuss your marketing plan.

Don't Miss This Exciting Seminar on Incorporating your Business!

Author: Keith Huggett

Ever wondered if you should incorporate your business? Now's the time to find out. What are the benefits of incorporating? If you are like most small businesses, you may be growing past the point of being a sole proprietorship but are unsure of what comes next. 

Luckily for you, some of the best minds in the business are coming together October 29, 2013 to help you.  Not only will they be discussing the how's and why's of incorporating your business, they will be presenting information on:

• Legal issues 
• Tax issues, 
• The benefits of outsourcing your payroll and accounting, human resources, IT, and other topics
• The affects of misunderstanding corporate payroll
• Tax free retirement and
• 401 K plans 

Now's your chance to register early for this exciting event. Contact the Tax Office, Inc., at (916) 773-7053(916) 773-7053 or email us at marketing@plan4tax.com to register now.

The Art of Complaint Management

Author: Allyson Huggett

None of us likes to receive a complaint. We work hard every day to maintain an excellent reputation. Our goal every day is to deliver a professional and top quality service to our clients.  The reality of course is that no matter how hard we try and how attentive we are, sometimes things go wrong. Mistakes happen. No person, business or sytem can be perfect.

Complaints aren't just for clients either. They can come from all directions.  Colleagues, staff, suppliers, competitors, in fact, just about anyone that we deal with on a daily basis is a "potential complainant".  No matter whom is complaining, how we deal with it always remains the same:

1. Stay Calm.  When someone is complaining, the are already in a heightened state of stress.  We do not want to add to that level.  Quite frankly the only way to solve the problem is to lower the level of stress and by staying calm yourself, it will help. Receiving a complaint can often release a wide range of negative emotions.  It is easy to become defensive, angry, worried, or even panicky.  These emotions will not help you.  Stay calm and composed, which is not necessarily easy, and remain professional. The process has only just begun. 
2. Understand the Complaint. Since the compainant has brought they complaint to you, they have already considered their own position. It's important to undertant the complaint as they see it and not rush ahead to what you think the issue may be. Listen carefully to everything they say or read everything they've written before considering a response. Note down the important points and go over them with the complainant to make sure you fully understand what the complaint is before you examine it.
3. Apologize. Always apologize as soon as it is clear that you understand the nature of the complaint. It is not important whether you agree or not. If it is blatantly clear that you are in the wrong, you unreservedly apologize, but even if you are convinced 100% to the contrary than an apology should still be made. It's the bare minimum that the complainant is looking for so it's unlikely to resolve quickly without one, but also, regardless of where the fault lies, you are sorry that they've felt it necessary to complain.
4. Explain. People rarely complain for the fun of it. Something isn't right for them and they want something done to fix it. Staying calm, taking the time to listen and understand what the complaint is about, offering an apology, shows them that you are taking them seriously. Now it's a matter of communicating what has happened.  Many complaints arise from a break in communication.  Communication is often the key to resolving complaints as well as avoiding them in the first place. Don't try to provide an explanation until you have fully investigated the event. Then be clear, factual and informative in your response.
5. Put Matters Right. If it's your fault, they you put it right, ten times over, as soon as possible, with the minimum fuss and with no further disruption for the complainant.  If it's partly your fault, then you still put it right, again ten times over, with the miinimum of fuss. The difference here though is that while you still take responsibility for putting it right your properly communicate all the elements to the complainant so that they understand the role they have played in this. If you are entirely blameless, then you need to communicate this to the complainant.
6. Wow Them. What you have to do now is put things right in a way that goes beyond their expectations. In doing so, you start to turn this negative into a positive. A gift, flowers, wine, free service, anything that says "we value this relationship."
7. Aftercare. After the issue has been "put to bed," both you and the complainant would hope that it hasn't been forgotten. A follow-up courtesy call or letter a couple of weeks after the even will help to reassure the client. A brief update on the position and any actions taken will suffice but it's further evidence of how proactive you have been about dealing with the matter.
8. Wow Them Again. After the follow-up call is a chance to exceed expectations. A free service or offer works particularly well at this point. Something that that will lead them into the next phase of your relationship and into the future with them.

Dealing with unhappy customers is never any fun. Turning them back into happy customers is always a plus. Take the time to instruct your staff in how to speak to a client with a complaint.  If you all work the plan in the same way, soon you will have a systemized approach to radically affect the outcomes in a positive way.  It may not be easy, but definitly worth it.

If you have any questions regarding this or any other marketing plan, please contact us, the Tax Office, Inc. Our business consulting service specialists are waiting to speak with you.  For additional newsworthy information, you can also sign up for our monthly newsletter.

3 Effective Tips That Create A Sense of Personalization

Author: Allyson Huggett 

Day after day the mailbox is filled with advertisements and mailers.  What differentiates your advertisement from every other advertisement out there?  Why do I want to read your marketing piece? Is there something that is going to catch my eye?  A bold headline? Or maybe it's something else.  Maybe your company took the time to do something a little different, and made your marketing more personal, JUST FOR ME.

Taking the time to personalize your marketing pieces can increase response in your customers and therefore increase your sales.  While it may take a little more time in creating the advertisement, the good news is that it's very easy to create a sense of personalization with some little known yet easy to apply tricks of the trade.  Here are 4 things that you can do to create that sense of personalization in your marketing pieces.

1. Use the prospect or client's name. Everyone like's to see their name so addressing your material to a named person will always bring about a response.  You do want to make certain you use the correct spelling. If you are going to take the time to address the material, at least spell it correctly.
2. Use "handwriting".  Addressing an envelope by hand almost always will get that envelope opened.  That doesn't mean use a "handwriting font." It means that you get a pen and literally address the envelope. You can always outsource this if you do not wish to do it yourself.
   
   You can also use handwriting to write your marketing piece. Or write a note on a Post-It note and attach it to one of your marketing communications.  This can make your marketing piece seem more relevant and personal.
3. Written Just For Me.  Perhaps the most important method of personalization is to write your marketing piece focused entirely on your target market.  When you write, write as if you were writing to one person - the reader, even if you are sending it out to thousands.

Remember, it takes more time and effort to create personalized marketing materials but this extra attention to detail will increase the returns for your business.  Should you have any questions regarding this or any other marketing issues, please contact us, The Tax Office, Inc.  Our specialists are here to assist you in all business related matters.

Every Marketing Piece Must Have A Powerful Headline

Author: Allyson Huggett 

When you are writing your marketing pieces the primary goal of the piece is to grab your customer's attention. The best way to do that is with a powerful, eye-popping headline. But how do you know if your headline is one of those? There are four key objectives to a great headline:

1. to get attention
2. to select an audience
3. to deliver a message
4. to draw the reader into the body copy - or keep them listening to you.

If you fulfill these four things then you can expect some improvement in your results. Fulfilling theses four things (all of them) may seem complicated at first, but we have 5 rules that simplify the matter and can multiply your sales and profits:

1. Your headline should always stand out. Make it big and bold, generally at the top of your marketing piece.
2. Your headline must be clear and direct. Nothing complex and difficult to understand.
3. Your headline should be specific. People in general always respond better to specifics. For example, "Lose 20 Pounds in 4 Weeks!" is a better headline than "Lose Weight Fast!"
4. The headling must promise a reward or benefit for reading on. See the above example.  Who doesn't want to learn more about how to lose 20 pounds in 4 weeks?
5. Use powerful words in your headline. Studies have been done to determine which words in the English language are the most powerful words to use in headlines. The top 20 words are...

You	Results	Your
Here	Facts	Discover
Quick	Easy	Exciting
Yes	Only	Guaranteed
Proven	Secrets	Instantly
New	How	Free
Now	Introducing

Now that you know the rules about headlines, we'll give you one more as a bonus rule:

Always test your headlines! For example, create a letter with two different headlines. Make certain that the only difference between the two letters is the headline.  Send them out to your target market and compare the results. The one that receives the best results is the one with the best headline.

The Tax Office, Inc. would be happy to assist you with your marketing program. Should you have any questions, please contact us.  Our specialists in our Client Accounting Services, Business Services, CFO Services, or Marketing Division would be happy to assist you.