Tuesday, August 23, 2011

Are You On Top Of Your Tax Deadlines?

The fall is a busy time in the tax season for most accountants.

BCWS is fast approaching several critical tax deadlines, which means you are too. In case you’ve ever wondered what happens this time of year, here is a breakdown of the key tax deadlines for the rest of 2011.

September 15, 2011 
  • 3rd quarter estimated tax payments due for 2011 tax year.
  • Final deadline to file corporate tax returns if an extension was requested. (Forms 1120, 1120A, 1120S).
  • Final deadline to file trust income tax returns (Form 1041) if an extension was requested.
  • Final deadline to file partnership tax returns (Form 1065) if an extension was requested.

October 3, 2011
  • Final deadline for self-employed persons or employers to establish a SIMPLE IRA for the year 2011.

October 17, 2011
  • Final deadline to file individual tax returns (with extension).
  • Last day the IRS will accept an electronically filed tax return for 2010. If filing after October 17th, you'll need to mail in your tax return for processing.
  • Final deadline to fund a SEP-IRA or solo 401(k) for tax year 2010 if you requested an automatic extension of time to file.

November 2011
  • Start planning any year-end tax moves. 
  • BCWS does extensive planning with our clients in November and December but if you don’t have a good accountant and need some assistance with planning, click here.

December 1, 2011
  • If you are covered by an HSA-compatible health insurance policy as of December 1st, you'll be eligible to contribute the full amount to a Health Savings Account for the year.

December 31, 2011 
  • Last day to make any tax moves for the year 2011.
  • Last day to set up a solo 401(k) for self-employed persons.
  • Marital status on this date determines your marital status for the whole year.



The last year has seen an unprecedented number of changes to the tax laws. It is more important than ever to be sure you have an accountant who is up to date on these changes. Your bottom line depends on it.

If you are choosing to do your taxes yourself, below are some links that can help:

Other great tools:

Remember: Behind every good business is a great accountant.  Our goal is to help your business thrive.

BCWS wants to connect with you!  Please come join us at:


Wednesday, August 10, 2011

How Important Are Presentation Skills?


At some point, all of us have to explain a concept, process or project to someone else, especially in today’s financial climate where downsizing is more common. Businesspeople are wearing more hats than ever before and not all of them fit comfortably.

One important skillset in everyone’s “business bag of tricks” is (hopefully) the Art of the Presentation. In today’s business environment, that will usually be done in conjunction with slides from PowerPoint on the PC or Keynote on the Mac.

It should be noted that three out of every four individuals suffer from speech anxiety, some so violently it qualifies as a phobia. Extreme fear of public speaking is called Glossophobia.  Here is a test if you’d like to rate your own speech anxiety.

Many presenters have visions of wowing a big crowd just by standing up and giving a presentation cold turkey. Others are more like the gentleman who clings for dear life to the podium so his voice isn’t so shaky. Or the well-meaning presenter who darts from one side of the room to the other, hoping to outrun her I-Hate-Public-Speaking nerves.

Practice and some training helps most people get over these nerves. Below are some tips to help you when it’s your turn to present at the next staff meeting (or wherever).



Tips for Effective Presentations

Below are some tips from our trainer to keep on hand as you begin to prepare your own presentations.

General Presentation

·         Check the spelling and grammar on every slide. Then check it again.
·         Practice so you can expand on abbreviated bullet points, rather than reading the slides. The text should be a cue for the presenter, not a message for the viewer.
·         If the content is complex, print out the slides so the audience can take notes.
·         Do not turn your back on the audience. If using a computer, try to position the monitor so you can speak while facing it.
·         Give a brief overview at the start. Then present the information. Finally review important points.

Special Effects

·         If sound effects are used in your presentation, wait until the sound has finished before you speak. If possible, pause for just a beat.
·         It is often more effective to have bulleted points appear one at a time so the audience listens to the presenter rather than reading the screen.
·         Use a wireless mouse or pick up the wired mouse so you can move around as you speak. A moving target (within reason) helps to keep the audience’s attention.

Color

·         Limit the number of colors on a single screen (no more than 3-4/pg).
·         Bright colors make small objects and thin lines stand out. However, some vibrant colors are difficult to read when projected. (Think of orange and red side-by-side in a pie chart. Ouch.)
·         Use no more than four colors per chart, if at all possible.
·         Check all colors on a projection screen before the actual presentation. They may project differently on different projectors and VERY differently than on your computer.

Fonts

·         Select sans-serif fonts such as Arial or Helvetica. Avoid serif fonts such as Times New Roman or Palatino as they are sometimes more difficult to read.
·         Use no font size smaller than 24 point in a large conference room.
·         Clearly label each slide. Use a larger font (35-45 points) or different color for the title.
·         Use a single sans-serif font for most of the presentation. Different colors, sizes and styles (bold, underline) are used sparingly to add impact.
·         Avoid italicized fonts as they are difficult to read quickly.
·         Use dark text on light background or light text on dark background. However, dark backgrounds sometimes make it difficult for some people to read the text.
·         Do not use all caps except for titles.
·         Try to shoot for no more than 6-8 words per line. 
·         For bullet points, use the 6 x 6 Rule. One thought per line with no more than 6 words per line and no more than 6 lines per slide. Trust me on this one.

To test the font: Stand six feet back from the monitor and see if you can read the slide.

Graphics and Design (many points here…)

·         Keep the background consistent and subtle.
·         When using charts or graphs, use only enough text to explain the graphic clearly.
·         Keep the design clean and uncluttered.
·         Leave empty space around the text and graphics.
·         Use quality clipart and use it sparingly. The graphic should relate to and enhance the topic of the slide.
·         Try to use the same style graphics throughout the presentation (e.g. cartoon, photographs)
·         Limit the number of graphics on each slide.
·         Check all graphics on a projection screen before the actual presentation
·         Avoid flashy graphics and noisy animation effects unless they relate directly to the slide. Massive animation = Death By PowerPoint (or Keynote)
·         Limit the types of transitions used (def: how a slide or bullet appears). It is often better to use only one kind so the audience knows what to expect.

What is your experience with public speaking? Is it easy or hard for you? Are there tips that help you get through it? Do you use presentation software like Keynote or PowerPoint, or something else entirely?

BCWS would like to connect with you! Please come join us at: