Estate Planning Fatigue
Estate Planning Fatigue
According to a recent survey conducted by CNBC.com, more than one-third of high-net-worth families have not set up a basic estate plan to protect and provide for their loved ones when they die.
The survey found that 38 percent of millionaires with investable assets of $1 million or more have not established an estate plan with the help of a financial expert. Millionaires with $5 million or more were more likely to have an established estate plan with 68 percent having one.
The survey also found that Republicans were more likely to use (more…)
Tax Season Prep: Choosing a Tax Preparer
Tax Season Prep: Choosing a Tax Preparer
While tax season may be one of the last things on your mind this time of year, there is no better time than now to find a good tax preparer. A good tax preparer can advise you on how to best finish out this tax year now and ease your tax filing stress come tax time. Once the end of the year comes and tax season begins, tax professional get busy and it will be harder to “shop around,” get advice, etc.
In a recent IRS Newswire release, the IRS gives some tips that can help taxpayers as they select a tax preparer:
Look for someone ethical:
You will give the preparer a lot of personal information so you want someone who values your privacy and will also help you complete your return honestly. (more…)
Amazing Customer Service
Amazing Customer Service
Experience #1:
After spending some time in the yard, my brother-in-law, father-in-law and I decided to head to Subway to get some lunch. My father-in-law was nice enough to foot the bill but unfortunately he’d forgotten his rewards card at home. The cashier told him not to worry and that he could get a new card, go online and merge it with the old one once we got back to the house.
After 45 frustrating minutes of trying to get the two cards merged online, we gave up—I’m a tech savvy guy and I literally couldn’t figure it out.
Contrast that to another experience.
Experience #2:
In an effort to find a movie online, I decided to check out Amazon Video. As I clicked around, I’m not sure what I did, but I accidentally signed up for Amazon Prime. Accidentally. It was that easy. So then, since it was an accident, I decided to cancel my Prime membership. I called Amazon’s customer service line and this was how it went.
Amazon: “If you’re calling about Prime memberships, press 1.”
Me: *1*
Amazon: “Please enter the last 4 digits of the credit card attached to your account.”
Me: *####*
Amazon: “If you’d like to cancel your membership, press 1.”
Me: *1*
Amazon: “Your account has been cancelled and a confirmation email will be sent to your email account on file. If you don’t need further assistance, feel free to hang up.”
Me: *End*
Phone: *Email alert*—“Amazon Prime Member Ship Cancellation”
Done.
This is not an effort to bag on one company and promote another but is a case to get us thinking about our own customer service. How easy is it? Is the process so simple that you could accidentally figure it out? Or is your tech savvy friend going to struggle? What steps can we eliminate? How can we automate this to make it fast?
This next week take note of every customer service experience you have and weigh it against your company. Then, come back and see what changes you can make. Think in terms of the question: “How can we make this effortless?”
Hopefully these experiences can help you reconsider your processes and get you on your way to amazing customer service. Good luck!
Mobile Marketing for Small Business
Mobile Marketing for Small Business
Successful mobile marketing is a delicate balancing act. It is easy to set up and automate but can quickly overwhelm and turn off customers if the messages are sent too often or with the wrong type of content.
A recent Bloomberg Business article noted that most cell phone owners are willing to share their personal data with merchants if (more…)
Content Marketing: The Rule of Thirds
Content Marketing: The Rule of Thirds
Competition for a customer’s time has never been higher. But at the same time, jumping into the marketing mix has never been easier. But how much do I spend? And where do I spend it? Michael Brenner, owner of NewsCred, a content marketing software company, shares his formula: the “Rule of Thirds.” We’ll break it into three steps.
First: Assign a marketing budget
The amount is up to you and depends greatly on your industry…but have something! The key is to allocate a certain amount of money each month, quarter or year—depending on your budget cycles—and to use that strictly for getting your business’ name out there.
Second: Split your marketing budget into thirds
- One-third on technology / infrastructure
- One-third on content
- One-third on paid distribution
Third: Split your content budget into thirds
- One-third on licensed content
- One-third on original content
- One-third on User Generated Content (UGC) or co-created content with employees, influencers and/or customers
With the rule of thirds in place, you’ll have the money set aside, the right allocation of funds to drive your plan and the diversified and targeted content to captivate your customers. Good luck and we look forward to seeing your plans in action!
No Kids? Get an Estate Plan!
No Kids? Get an Estate Plan!
A recent US News article recently reiterated one of our GQ Law mottos- Everyone Needs an Estate Plan! This particular article targets those who do NOT have children. Often times, people get an Estate Plan to protect their minor children, make sure their kids get their assets after they die, etc. Having children creates an urgency about Estate Planning. So, what about those without kids? Do they still need an estate plan? YES!
Heirs or not, you cannot take your assets with you and if you have an opinion about who gets your stuff, you need to have an Estate Plan. US News quotes Jean-Luc Bourdon, a certified public accountant in Santa Barbara, California, “When it comes to what you’ll leave behind, there are only three buckets: Uncle Sam, charity or individuals.” Since most of us don’t really want Uncle Sam getting all of our hard earned assets when we kick the bucket, we’ve got to set up a proper Estate Plan to make sure as much of our assets as possible go to charities or individuals of our choice.
Many people with children create a will to make sure their kids are cared for but a Will can be just as important for people who don’t have children. Whether you want to leave money to a charity, your pets or other loved ones, a Will is the key. Bourdon emphasizes that establishing a will early is a good idea, in your 30s or 40s. He also reiterates that writing a will is not enough.
For most people, a complete estate plan covers a lot more than just a simple Will. One important thing to consider is a healthcare directive. What would happen if you were to get in an accident that leaves you unable to communicate your own healthcare wishes. Who will make decisions about your medical treatment? Beyond that, considering HIPA privacy policies, who can get information about your health care situation?
GQ Law can teach you about the various documents available to protect your assets, your health and your life. Call us today to come in for a free consultation to get your estate plan going, kids or not! 858-549-8600
Tax Return Extension Deadline TODAY
Tax Return Extension Deadline TODAY
Thirteen million taxpayers requested an extension (more time) to file their federal tax returns. TODAY is the deadline for most of those people, an automatic 6 months after tax day, April 15.
If you are one of the many who took advantage of the extension, here are a few things you should know.
–File online. You can still hurry and file you return online (aka e-file) with IRS Free File via IRS.gov through midnight tonight. E-file is a safe, easy and accurate way to file your taxes. There are also a variety of tax filing programs that can help you e-file and make sure you get the maximum refund.
–Use direct deposit. If you are due a refund, sign up (more…)
Small Businesses Are Winning Big
Small Businesses Are Winning Big
There is good news out there for small business in the United States! Often seemingly living in the (large) shadows of big box stores and large corporations, a 2015 Cox Consumer Pulse survey on small business showed that 92 percent of consumers around the USA shop at a small business at least once a week. The survey found that 46 percent shopped small businesses three or more times a week.
With a recent shift toward improving communities and business at home, more and more consumers are making the effort to “shop small” by patronizing local, small businesses. This is especially true around the holidays but appears to be gaining momentum and becoming more common at other times of the year as well.
According to some reports, $68 of every $100 spent locally at small businesses, stays in the local economy. This helps money circulate in the local economy, create jobs and strengthen communities.
Nearly 1400 consumers participated in the survey that found consumers feel they get better customer service when shopping at small businesses. Local shops offer convenience and a better shopping experience as shop owners and employees are more familiar with their customers.
The survey also asked consumers what they thought small business owners could do to draw in more customers and asked them what they thought were the best ways to engage customers. The top suggestion to draw in customers was that small business offer more competitive pricing, followed by the suggestion to offer loyalty programs. The top three ways to engage customers were email, in-person events and social marketing. To see the full list of suggestions and findings from the survey check out the full article on NewsOK.com
We at GQ Law are firm believers in the power and potential of local small business. Being a small business ourselves, we are experts at helping get entrepreneurs on their feet. Please contact us today to set up an appointment to meet with Gary and our team to get your small business set up properly.
5 Quotes to Get You Going!
5 Quotes to Get You Going!
Some days, its just hard to get going. So today, let’s hear five quotes from a few people who know what it takes to achieve success.
- “The way to get started is to quit talking and begin doing.” – Walt Disney, founder Disney
- The truth is the real villains are lurking within the company, our real villains are things like bureaucracy, complacency, a lack of speed, or a lack of passion.” – Doug McMillon, CEO Walmart Stores
- “We must all suffer one of two things: the pain of discipline or the pain of regret.” – Jim Rohn, Entrepreneur and motivational speaker
- Management is the opportunity to help people become better people. Practiced that way, it’s a magnificent profession. – Clayton Christensen, Author of The Innovator’s Dilemma and professor of management at the Harvard Business School
- “Whether you think you can, or think you can’t — you’re right.” – Henry Ford, founder Ford Motor Company
Have a fantastic day! We know you can make it happen!
Add to Your Bottom Line: “Skills and Wisdom”
Add to Your Bottom Line: “Skills and Wisdom”
Jim Rohn once said, “Don’t wish it was easier, wish you were better. Don’t wish for less problems, wish for more skills. Don’t wish for less challenge, wish for more wisdom.”
One important way to gain skills and gather wisdom is through reading great books. Today, Daymond John of Shark Tank shares his six must reads:
- Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert Kiyosaki
- Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant by W. Chan Kim and Renee Mauborgne
- Think and Grow Rich by Napoleon Hill
- Life Is a Series of Presentations: Eight Ways to Inspire, Inform, and Influence Anyone, Anywhere, Anytime by Tony Jeary
- Who Moved My Cheese? An Amazing Way to Deal With Change in Your Work and in Your Life by Spencer Johnson
- The One Minute Manager by Kenneth H. Blanchard and Spencer Johnson
For every dollar you invest in your personal development it adds at least $30 to your bottom line over time.” – Bryan Tracey
Go out and get some new skills and wisdom!