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The Accounting Educator from Your Financial Success Advisors
July 16, 2007

Dear Galen Workman,

in this issue
  • Mom? Dad?
    We Need to Talk
  • You Have the Power!
  • Paris Hilton: Business Guru
  • 30 Seconds to Significant Sales
  • The Rest of the News

  • You Have the Power!

    Summer energy demands on hot days tax California's electricity production ability. News broadcast announce "Flex Your Power" alerts, and memories of rolling blackouts make us wonder if we'll get through the business day with electricity.

    Get the power supply situation first hand: from the California Independent System Operator.

    The ISO website updates the actual and projected power usage every 10 minutes throughout the day. Their graph compares what's being used with the amount of electricity available.


    Paris Hilton: Business Guru

    Forget Sun Tzu and Peter Drucker. The person to help you run your business in 2007 is Paris Hilton.

    Philadelphia CPA Gene Marks has discovered Hilton's brilliant business skills overlooked by most mainstream media.

    The odd thing is, we think he's on to something.


    30 Seconds to Significant Sales

    Up-selling ("Would you like French fries with that order?") should be a meaningful source of revenue for your retail business. Increasing the value of each customer transaction is one of the four ways to grow your business.

    But, untrained staff can sound pushy when suggesting additional products to clients.

    Jeff Mowatt tells you about the 3 most common up-selling mistakes and counters with 4 effective strategies to use.


    The Rest of the News

    Don't forget to visit our news page for regularly updated articles for your financial success. Today the news page talks about:

    • adjusting your tax plans for new kiddie tax rules
    • the IRS's plans for audits of individuals and S Corps
    • the IRS says vacation homes don't qualify for like-kind exchange treatment
    • the new tax law that makes Work Opportunity Tax Credit more attractive

    ... and 6 other stories to help you and your business.


    Mom? Dad?
    We Need to Talk

    The time to start helping your parents prepare for their older years is before they have any health or personal emergency. That's means now, not next year!

    If you wait, your parents might not be capable of telling you what they want. Moreover, it is simply less emotionally charged to talk about some issues when there's not a crisis looming.

    The American Institute of Certified Public Accountants has prepared a checklist of 6 topics to discuss today. They also list 7 bits of personal data you need to have available to you.

    Let these CPA's tips start an important conversation that will help you provide the care you want to give to Mom and Dad.

    -- Geoffrey Kulik, CPA
    Partner

    CPA's Help You Talk to Mom and Dad
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