Interest Rate Changes: What an Entrepreneur Needs to Know
Interest Rate Changes: What an Entrepreneur Needs to Know We’ve all seen the headlines popping up on our news feeds, in the paper and in friendly conversations. But why should I care about the Fed changing it’s key interest rate? Well, here’s a brief overview of the implications of interest rate changes on your small business. First off, the Fed’s decision to raise rates is a good sign. The Fed will only do this when it strongly believes the economy is very healthy and growing well. In fact, that’s one of the biggest reasons they raise rates. If the economy is expanding too...
Read More10 Ways Successful People Stay Calm
10 Ways Successful People Stay Calm Success Magazine recently published an article by writer Travis Bradberry detailing the 10 ways successful people stay calm. Since staying calm under pressure is highly important for success in your field, we thought we’d highlight a few of our favorite tips here on the GQ Law blog. Bradberry writes “The ability to manage your emotions and remain calm under pressure has a direct link to your performance.” TalentSmart conducted a study with more than a million people. Ninety percent of the highest performers out of the million people were...
Read MoreTax Tips: Giving Gifts to Charity
Tax Tips: Gifts to Charity Tax Tips for Charitable Giving You must itemize your deductions in order to claim donations to charity. Give to qualified charities: You cannot deduct donations to charities not found on the IRS Select Check tool. Check it out here before you donate. You can deduct gifts to churches, synagogues, temples, mosques and government agencies, even if the Select Check tool does not list them. Keep records: You must have a bank record or written statement from the charity in order to deduct gift money on your tax return. Gifts of money include those made by cash, check,...
Read MoreThe Profit Cycle
The Profit Cycle As a small business owner, investing in your people can sometimes seem far away from the bottom line. In this cycle, shared by Bob Nilsen, former President of Burger King and current CEO of Cafe Rio, the payoff of investment in employee training, morale and well-being is clear. Here’s a quick summary: 1. Invest in your people, helping them become trained and happy 2. Your people will treat your customers well 3. Satisfied customers generate sales 4. Sales generate profits 5. Profits can the be reinvested into your people, your customers, sales...
Read MorePutting the Thanks into Thanksgiving
Putting the Thanks into Thanksgiving As an American National holiday, Thanksgiving has root in the 1620’s beginning as a celebration in gratitude for a much needed harvest in combination with gratitude for much needed and recently acquired freedoms. Thanksgiving is meant to commemorate a life of opportunity and abundance. But, in reality, does thanks seem to be the focus of the day? Oftentimes Thanksgiving ends up being more about turkey, pie and side dishes—this year, let’s take on the “THANKS-giving challenge” and put the thanks back into Thanksgiving. Step one: Pick a...
Read MoreThanksgiving: A Great Time for Estate Planning
Thanksgiving: Time for Estate Planning With Thanksgiving and other end of the year holidays just around the corner, its prime time to get family together and prime time to get your family talking about estate planning. Yes, yes, we know that conversations about estate planning can be awkward but we know that the longterm benefit of having these talks far outweighs the uncomfortable feelings in the moment. Many people like to keep things close to the vest and don’t share their wishes and pertinent financial information with close family members. While we respect individual feelings and...
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