tax planning 2017Story time today.

Here we are, with Q3 of 2017 in the rearview mirror, and it’s amazing how quickly things move.

(And, by the way, this reminds me: have you considered making further pro-active moves to minimize your taxes for this year? With a few months left in the year, we still can make some positive moves to save your business on its taxes — and, of course, on your personal return as well — but it only comes through planning. We’d be glad to talk with you about tax planning 2017. Give us a call {(516) 449-2852} or send me an email if you believe that there is more that we can do on your behalf.)

As we head into fall, I’m reminded that it’s SO easy to let the time just flow on by … and to not take a good hard look at doing things differently in your Long Island and Stamford business.

Every week, I do my best to give you a quick “shot in the arm” for your Long Island and Stamford business, and break you out of the routine. Honestly, I have such a great time putting together these notes for business owners, because I love thinking about my clients and other Long Island and Stamford business-owner followers of my blog putting good advice into practice to actually grow their business.

But sometimes inertia is a killer.

Here’s the story…

A Story, and Tax Planning 2017 for Long Island and Stamford Businesses
“Confidence comes not from always being right, but from not fearing to be wrong.” – Peter T. Mcintyre

When I meet with Long Island and Stamford business-owner clients or friends, I discover that many of them have a method of how they run their business … and they haven’t deviated from it for years.

Well, I remember an exchange from a plane, which got me to thinking about this phenomenon … and what it means for your business.

As the plane was being boarded, the flight attendant was passing through the cabin asking passengers what they wanted to drink before takeoff. “I’ll have a Diet Pepsi,” said one person. “A double vodka for me, please,” said another passenger … and it wasn’t even lunchtime yet.

When the flight attendant reached a kind-looking matron, she asked for an iced tea. An interesting exchange followed:

Flight Attendant:  I’m sorry, we don’t have any iced tea.
Passenger:  Do you have hot tea?
Flight Attendant:  Yes…
Passenger:  Do you have ice?
Flight Attendant:  Yes…
Passenger:  Do you have sugar and lemon?
Flight Attendant:  Uh, yes…
Passenger:  Then forget the iced tea; just give me a cup of hot tea and add some ice, sugar, and lemon, please.

At that point, everyone who had heard the conversation, including the flight attendant, began to laugh. Everyone’s concept of iced tea was of a drink already prepared and packaged in a can or bottle. Only the passenger (who had obviously had this conversation many times before), had the concept of iced tea as a mixture of ingredients which were all readily available on the plane.

How many times, when faced with difficult or challenging situations, do we focus on the reasons we can’t do something instead of identifying ways in which we can?

Many business owners get stuck in auto-pilot, closing their minds to new ways of doing things because they simply don’t have the context.

So, here’s my suggestion for you this week: take a fresh look at your 1) marketing, 2) management procedures, and 3) sales steps. Try to see new ways of accomplishing similar goals, test them out … and perhaps watch your profits soar once more.

Feel very free to forward this article to a Long Island and Stamford business associate or client you know who could benefit from our assistance — or simply send them our way? While these particular articles usually relate to business strategy, as you know, we also specialize in tax preparation and planning for Long Island and Stamford families and business owners. And we always make room for referrals from trusted sources like you.

Warmly,

Michael J. Kessler, CPA
(516) 449-2852
(203) 658-5092 

PS–Join us for our show Business Profits In The Real World Saturday afternoons at 4 on 103.9FM WRCN where we bring you Long Island and The New York-Metro’s most successful business owners sharing how you too can bring your business to among the most profitable in your industry.  No radio? No problem! Listen live at LINewsRadio.com – or can’t listen live? Hear our past shows at MichaelKesslerCPA.com

PPS—Check out the latest edition of our monthly newsletter, Wealthy and Wise, HERE