Welcome to the September 2017 edition of the Straight Talk Newsletter. With Summer coming to an end and fall right around the corner, we’re sure that you’re looking forward to cooler days and maybe getting the

BBQ out one last time.

To kick things off this month we have the article titled “3 Fresh Ideas for Getting a Leg Up on the Competition” which highlights three distinct ways for your business to stand out amongst your peers and competitors.

The rest of the newsletter is filled with articles geared towards using your creative side to be on the look-out for new opportunities, how to utilize existing resources to help you along the way, and search within to access ideas that could only be realized through your own experience.

Until next month,

With Summer coming to an end and fall right around the corner, we’re sure that you’re looking forward to cooler days and maybe getting the

To kick things off this month we have the article titled “3 Fresh Ideas for Getting a Leg Up on the Competition”

new opportunities, how to utilize existing resources to help you along the way, and search within to access ideas

Robert Goodman’s STRAIGHT TALK ABOUT SMALL BUSINESSTM Newsletter • September 2017 • Page 1

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September 2017

The newsletter designed to keep you on course to build a successful small business

Looking for fresh ways to get a leg up on your competition? Consider these suggestions:

Text MarketingPeople with smart phones (and there are millions of them) tend to keep them close at hand. When their device makes a noise to notify its owner of an incoming text, that owner probably responds like Pavlov’s dog, irresistibly glancing at the screen to see what’s come in. Generally speaking, smart phone users are quicker to respond to text messages than to email, and busi-nesses that market via text realize that. For example, if you have a retail shop you can text customers that you’re having a spur-of-the-moment sale and boost store traffic. If you provide professional services, you can text appointment reminders to minimize cancellations and no-shows.

Have a ContestPeople love the possibility of winning something. Use that fact to help call attention to your business. Just make sure the prize is something desirable. A plastic water bottle with your logo on it isn’t going to get people excited, but $1,000 cash might. So how about an out-of-the-ordinary experience, hard-to-get show tickets or a primo table at the hottest new restaurant in town? The only thing you really have to lose is the cost of the prize. As to how people might enter, find a method that puts what you’re selling in front of your prospective client/cus-tomer. For example, they might have to enter via a form

on your website where you’ll also place an advertisement, perhaps with a special offer. In some cases, the individual might have to walk into your brick-and-mortar store to fill out an entry form. If you’re looking to build online reviews of your business, perhaps a published review can work as an entry.

Shoot VideosDon’t be afraid of video. If you have a smart phone, you

already have the camera. As for editing, slick videos are nice, but today infor-mal videos are valued by consumers as much as, if not more than, profession-ally produced videos. Use short videos (two minutes of less) that convey infor-mation your customer wants to know. You can use video to show customers and prospective customers what your company culture is like. For example, you might walk around the office and have each of your team members say good morning or share a good, clean joke. Use video to get testimonials from customers. What do you want people

to know about your company? Show that on video. Video can also be used to demonstrate product features. Videos can be posted easily on YouTube as well as on your social media platforms, such as Facebook or Instagram. Some-one on your staff would probably welcome the opportu-nity to experiment with video. Why not give them some room to play? It could go a long way towards building interest in your business and furthering your brand. ✦

3 Fresh Ideas For Getting A Leg Up On The Competition

Robert Goodman, CPA, MBA

Rober t Goodman, CPA, MBA

Do You Have A Tough Accounting /Tax Question You Want Answered?

I love hearing from my small business clients and friends who enjoy reading my monthly newsletter. I’m always looking to answer

pressing questions you might have relating to small business. If you have a question, tip or idea, please call me at (617) 964-4766 or email me at bob@rgcpa. Perhaps I’ll feature you in a future issue!

Are You In Need ofa Qualifi ed Tax Pro?

If you are not my client and would like to explore whether we might be a good fi t, please

contact me. As a qualifi ed tax professional, I not only know all the rules, but can also help you deal with the IRS and help you decide how far to push a dispute.

I pressing questions you might have relating to small business.

f you are not my client and would like to explore whether we might be a good fi t, please

contact me. As a qualifi ed tax professional, I not

Robert Goodman’s STRAIGHT TALK ABOUT SMALL BUSINESSTM Newsletter • September 2017 • Page 2

Making the Most out of Miscellaneous Deductions

What do we mean by “miscellaneous deductions”? Miscellaneous deductions are tax breaks that

generally don’t fit into a particular tax category. They can help reduce taxable income and the amount of taxes owed. For example, some employees can deduct certain work expenses like uniforms as miscellaneous deductions. To do that, they must itemize their deductions instead of taking the standard deduction on their tax return. Here are some tips from the IRS about miscellaneous deductions:The Two Percent Limit. Most miscellaneous costs are deductible only if the sum exceeds 2% of the taxpayer’s adjusted gross income (AGI). For example, before being able to deduct certain expenses, a taxpayer with $50,000 in AGI must come up with more than $1,000 in miscellaneous deductions. Expenses may include:

• Unreimbursed employee expenses.• Job search costs for a new job in the same line of work.• Job tools.• Union dues.• Work-related travel and transportation.• The cost paid to prepare a tax return. These fees include the cost paid for tax preparation software. They also include any fee paid for e-filing a return.

Deductions Not Subject to the Limit. Some deductions are not subject to the 2% limit. They include:

• Certain casualty and theft losses. In most cases, this rule is for damaged or stolen property held for investment. This may include property such as stocks, bonds and works of art.• Gambling losses up to the total of gambling winnings.• Losses from Ponzi-type investment schemes.

Taxpayers can’t deduct some expenses. For example, personal living or family expenses are not deductible. To claim allowable miscellaneous deductions, taxpayers must use IRS Schedule A Itemized Deductions. For more about this topic or if you have any questions, call us. We’ll be glad to help.

The Science Behind Creative ThinkingCreativity may seem mysterious and

magical, but scientists have been studying it for a long time. From the Fast Company website, here’s some of what they’ve learned:

• Creative insights do come in the shower. In one study, 72 percent of participants reported getting new ideas while taking a shower.

• Solitude boosts creativity. The networks in our brains responsible for creativity and imagination work better when we’re alone.

• Trying new things helps. New experiences can trigger dopamine, a neurotransmitter that facilitates mental flexibility.

• Trust your hunches. Intuition isn’t well understood, but it’s led to many creative insights. Learn to let your unconscious mind noodle on problems and ideas without forcing your brain to work.

• Daydreaming has positive effects. Daydreams can enhance creative thought, self-awareness, and long-term planning by giving you a kind of mental incubation for ideas.

the standard deduction on their tax return. the standard deduction on their tax return. from the IRS about from the IRS about

deduct certain expenses, a taxpayer deduct certain expenses, a taxpayer with $50,000 in AGI must come up with $50,000 in AGI must come up with more than $1,000 in miscellaneous with more than $1,000 in miscellaneous deductions. Expenses may include:deductions. Expenses may include:

• Unreimbursed employee expenses.• Unreimbursed employee expenses.• Job search costs for a new job in the • Job search costs for a new job in the

“Some irresponsible gossip mongers around the offi ce have misquoted me

as calling you a ‘silly goose’.”

Robert Goodman’s STRAIGHT TALK ABOUT SMALL BUSINESSTM Newsletter • September 2017 • Page 3

Do your emails get the attention and rapid

response they deserve? Here’s how to make sure people read and answer your messages while they’re still fresh:

• Grab them with your subject. The subject line should read like a compelling newspaper headline. One technique is to use the subject line to tell people what you want up front: “Please come to the 3 p.m. meeting,” for example, or “Do you have the Jones file?”

• Limit yourself to one subject per message. Don’t overload readers with questions and data. Single-topic emails are easier to answer than lengthy essays or questionnaires.

• Ask for action. Tell the reader what you need him or her to do — present a report at the 3 o’clock meeting, or bring the Jones file to your office. Specify whether you want a response to your email. If it’s not necessary, tell them.

• Be consistent. Tracking emails is easier when you keep the same subject line.

Success is the sum of small efforts, repeated day in and day out. – Robert Collier

Motivation is the art of getting people to do what you want them to do because they want to do it. – Dwight D. Eisenhower

The way to get started is to quit talking and begin doing.– Walt Disney

Creativity involves breaking out of established patterns in order to look at things in a different way. – Edward de Bono

In Pursuit Of Perfection? Strive For Excellence Instead“Perfection” may be the ultimate goal, but trying to attain this can cause stress, hinder efficiency, and create unnecessary conflicts with the people around you. Perfectionists are frequently perceived as: • Critical • Overwhelmed • Unable to see the big picture • Stressed-out and anxious • Rarely able to enjoy their accomplishmentsA more productive goal is excellence: meeting the highest standards agreed upon for oneself or by the group. The person concentrating on excellence focuses on: • Continued personal and professional growth • Job satisfaction and customer service • Clear and reasonable expectations • A strong sense of accomplishmentTo go from perfectionism to the pursuit of excellence, follow this advice:• Get real. When you find yourself becoming frantic about a goal, stop and ask, “Is this problem really worth the level of frustration I’m experiencing?”• Establish clear expectations. If you know what’s expected of you, you can better track your progress and draw boundaries when needed. This will help you move forward with the project instead of trying to make it better.• Identify your triggers. Learn to recognize the factors that lead or contribute to your perfectionist thinking and behaviors — and avoid them.• Delegate. Many perfectionists mistakenly believe that they — and only they — can complete the task at hand. Let other people assist you. This will improve the odds that the business will more easily reach excellence.• Know what’s important. Ask yourself, “What’s most important about this project?” Consult with your supervisor, colleagues, and team members. Analyzing your objectives, then narrowing down key points and agreements, allows everyone to measure his or her performance accurately.

Unclear On The ConceptA group of managers who had never

taken the time to understand the technical aspects of their organiza-tion’s product line took a tour of their plant. They made several disparaging comments about their manufacturing employees’ intelligence until their guide decided to challenge them.Pointing to a flagpole rising from the floor, the guide gave them a tape measure and challenged them to measure the height of the pole—without using a ladder. The managers all exclaimed how easy that would be and started in. But they couldn’t figure out a way to reach to the top of the pole to get an accurate measurement.Then the guide asked a worker who was walking by on her way to lunch to measure the pole. The woman walked over to the pole and looked at its base. Seeing it was screwed into a stand, she unscrewed the pole, laid it on the floor, and measured it, all in about 30 seconds. “Ha!” said one of the managers. “That doesn’t count. We were supposed to measure the height of the pole, not its length!”

Unclear On The Conceptgroup of managers who had never

Unclear On The Conceptgroup of managers who had never

Unclear On The Concept

employees’ intelligence until their guide

Robert Goodman’s STRAIGHT TALK ABOUT SMALL BUSINESSTM Newsletter • September 2017 • Page 4

The Silent TreatmentA golfer was assigned a caddy with a reputation for

being talkative. Not wanting to have his game constantly interrupted, the golfer instructed the caddy, “Keep quiet except when I ask you something, and then just nod or shake your head.” The caddy agreed.

On the 12th hole, the golfer hit a shot out of sight into the woods. After much searching, he found a ball on bare ground near a tree. He asked the caddy, “Should I use a five iron?”

The caddy shook his head.

“Well, a six iron, then?”

Another shake of the head.

“You’re wrong,’ said the golfer.

“Give me the six iron—I’ll show you.” He hit a shot onto the green, then turned to the caddy and said, “How about that? Go ahead—you can talk now.”

The caddy replied, “That wasn’t your ball.”

Three Levels OfImagination

Creativity and innovation

come in many different forms. An article on the Bizcommunity website points to three distinct levels of imagination:• Discovery. Sometimes you just see

something that looks like a good idea. Keep an open mind as you look around you, and learn to find opportunities in everyday things.

• Invention. Apply the tools you’ve got to solve the problem in front of you. Look at all your available resources and see which will help you achieve the results you’re looking for.

• Creation. Dig deep into your personal experience for something only you can create. Remember that ideas may be common, but how you put them to work is what makes them stand out.

game constantly interrupted, the golfer instructed the caddy, “Keep quiet except when I ask you something, and then just nod or shake your head.” The

“Delivering Value”1340 Centre Street, Suite 200Newton Center, MA, 02459Ph: (617) 964-4766 • Fax: (617)904-1141 Website: rg-cpa.com • Email: bob@rgcpa.comMember: AICPA, Mass Society of CPAs, Panalitix, 20/20 Group

See What’s Inside...3 Fresh Ideas For Getting A Leg Up

On The CompetitionThe Science Behind Creative Thinking

Making the Most out ofMiscellaneous Deductions

Send Emails That Get ResultsUnclear On The ConceptIn Pursuit Of Perfection?

Strive For Excellence InsteadThree Levels Of Imagination

The Silent Treatment