Thursday, January 12, 2012
40t S. Main St. •
Fax
Whether it's losing
weight, getting organized,
or going back to school,
most of us choose to make
some changes for the better
fans this year. Facebook
now has over 800 million
users. More than half of
those log in on any given
day, and 350 million active
in our lives at the beginning users connect to Facebook
of anewyear. For business using a mobile device.
owners, why not take it a Chances are good that your
step further and consider customers are on Facebook,
making a New Year' s and if they are, you should
Resolution or two for your be too.
business? In case you are at Conduct regular check-
a 10ss fotAdeas, I've come ups of your online pres-
up with a list to get you ence. This is more than
started, just maintaining your
Set up a Facebook page website (which, of course,
for your business. If you is important.) Make sure
already have a Facebook you have updated contact
page, commit to spend- information for your busi-
ing m0r 'time or gaining ness on Google Places,
a ,certain!aumber of new Google Maps, Yahoo
, "i ~ it
Local, Manta.com, and
Superpages.com. For spe-
cialized businesses, check
for popular directories,
such as UrbanSpoon.com
for restaurants.
Revisit your business plan.
The business plan is not a
document to be used only
for getting a bank loan. It
should be the road map for
operating your business.
Revisit your one-, three-,
and five-year goals.
If you haven't already,
invest in a good account-
ing software program. This
includes taking the time to
learn how to effectively
use the program. Merid-
ian Technology Center
(Stillwater) and Central
Tech (Drumright) offer
classes in the basic use of
accounting programs such
as QuickBooks.
Find a new place to net-
work with your customers.
Small business owners often
claim they do not have time
to attend networking events,
but these events should be
a planned part of the work
schedule. Prior to each
event, develop goals for
what you want to accom-
plish while at the event.
Take some personal devel-
opment classes. Watch for
programs offered by the
Extension office (me), by
the career tech schools,
or by an area Chamber of
Commerce. Some exam-
ples would include web
design, customer service,
goal-setting, QuickBooks,
Facebook, management
skills, etc.
Get organized. As hom-
eowners, many of us choose
organization as one of our
New Year's Resolutions,
why not for our business
space. Do it on your own,
or hire a professional orga-
nizer to help.
Commit to making con-
tacts. I've read that a sales-
person should attempt to
make at least five new con-
tacts (not sales) per week, If
that sounds overwhelming
to you, start with five new
contacts per month. You
will have to get outside of
your normal acquaintance
circles and step boldly into
some unfamiliar ones.
Cut expenses. The busi-
ness version of "cutting
calories" would probably
be "cutting costs," and who
couldn't stand to cut a few
of both?
Consider becoming an
LLC (Limited Liability
Corporation). This is really
something that a growing
business should consider.
An important benefit of
becoming an LLC is that
in the event of a lawsuit,
your personal assets are
protected from liability.
Make more time for your-
self. Being your own boss
is no cakewalk It can be a
tough, 24-7 job! No one,
however, can hold up work-
ing 24 hours a day, 7 days
a week. Delegate when you
can and schedule time for
yourself.
Dr. Suzette Barta is
• an Extension Educator,
Community and Economic
Development, with Payne
County OSU Extension. She
is also an active member
of the Perkins Community
Chamber of Commerce and
the Greater Perkins Area
Economic Development
Authority. To contact her
regarding the content of this
or other articles, e-mail her
at sbarta @provalue.net.
ByTrisha Gedon
Now that the holiday
decorations have been
i taken dc wn, many Okla-
~;~ ~
homans /are preparing
for another season...tax
,season.
, Eileen St. pierre, Okla-
homa State University
Cogperative Extension
personal flnan6e special-
of a single filer."
The personal exemption
will increase by $50 to
$3,700 and remain at that
level through 2012. Tax
payers who earn more than
a certain amount will see
this exemption phase out
and the amount of itemized
deductions reduced.
In addition, homeowners
the home improvement,
not including installa-
tion," she said. "If you've
received more than $500
between 2006 and 2010
for home improvement tax
credits, you're not eligible
for anything more."
The credit for Energy
Star@ windows and sky-
lights is capped at $200
.ist, said it is important will continue to be able to and eligible doors are
to be aware of all the tax deduct mortgage insurance capped at $500. Furngces
credits a rrd"deductions premiums on Schedule A.and boders are capped at
available for the 2011 tax However, this was a tem- $150 and must meet 95
year. porary tax break. Itbecame AFUE. The credit for air
conditioners, heat pumps
Fol( et / erswho effective for mortgage
do stan- insurance policies issued and water heaters is
dard d educ mounts on or after January 1,2007, capped at $300.
for 2011 ,are $5,800 for and expired on December
sitigles,/$i 1,60Of for mar- 31, 2011.
' eout les filing jointly "Many taxpayers saw
:' 8,500 for heads ofgenerous energy tax cred-
, ~ -. ,,"'~i~' .
' Pierreitsin2010. Unfortunately,
i ! cause leg- these credits are not as gen-
'l$i on 'passed at ::ihe end erous for 2011. The home
of 2010,married fliers will
not face a marriage pen-
alty for Ot;l The standard
dedOc ion for married
NV stors
Tax legislation passed at
the end of 2010 extended
the Bush tax cuts of 2001
and 2003 Until the end of
2012. The child tax credit
will stay at $1,000 per
It's Super Bowl time again.
And whether you're a sports
fauLt:or not, you can probably
lea something from the
BOWl teams that you
improvement tax credit is
significantly reduced to
a lifetime maximum of
$500 and only applies to
10 percent of the cost of
child, instead of dropping
back to $500 per child.
This legislation applies
to other tax credits. The
dependent care credit
allows a taxpayer a credit
such as stocks for growth
and bonds for income and
your various investments
should complement, rather
than duplicate, one another.
can apply to other endeavors
-- such as investing.
What might these lessons
be? Take a look:
Strive to build a diversified
portfolio containing invest-
ments appropriate for you
situation; such as stocks,
• Pick players carefully, bonds, government securi-
Super Bowl teams don't ties, certificates of deposit
usually get there out of (CDs) and other vehicles.
luck; they've made it in part Diversifying your holdings
because they have carefully may help reduce the effects
chosen their players. And to of market volatility. (Keep
potentially achieve success in mind, though, that diver-
as an investor, you, too, sification, by itself, can't
need ¢arefully chosen "play- guarantee a profit or protect
ers" investments that are against loss.)
chosen for your individual • Follow a "game plan."
situation. Super Bowl teams are skilled
• Choose adiversifiedmixof at creating game plans
players. Not only do Super designed to maximize their
Bowl teams have good play- own strengths and exploit
ers, but they havegood ones their opponents' weaknesses.
at many different positions When you invest, you also
-- and these players tend can benefit from a game
to play well together. As an plan -- a strategy to help
investor, you should own you work toward your goals.
a variety of investments This strategy may incorpo-
with differeht capabilities rate several elements, such
for a percentage of child
care expenses for children
under the age of 13, as well
as for disable dependents.
The amount of eligible
expenses is $3.000 for one
child and $6,000 for two or
more children. The adop-
tion tax credit will remain
at $10.000.
"Families with three or
more children will continue
to receive the increased
Earned Income Tax Credit
(EIC) of 45 percent of the
family's first $12,750 of
earned income," St. Pierre
said. "The income phase-
out range for married joint
filers, regardless of the
continue at the higher level
set by the Bush administra-
tion."
Some educational incen-
tives, such as the American
Opportunity Tax Credit,
deductions for student
loan interest or qualified
education expenses, have
also been extended for an
additional two years.
St. Pierre stressed
that taxpayers should not
overlook the Retirement
Savings Contribution
Credit, also known as the
Saver's Credit. This credit
is designed to help work-
ers with low-to-moderate
income save for retire-
an income below a certain
amount and contribute to
an IRA or a workplace
plan such as a 401 (k) may
qualify for a credit up to
$1,000 ($2,000 if filing
jointly).
"As you begin gathering
receipts and other tax-
related paperwork, make
note of all of the credits
and deductions for which
you're eligible," St. Pierre
said. "This will help you
keep more of your own
money. You can use
your income tax refund to
either start or boost your
emergency savings fund
or heir, achieve othe
number of children, will ment. Workers who have financial goals."
'Get Organized Month!' events offered
at Stillwater Public Library this January
The beginning of a new
year is an almost magi-
cal time where anything
seems possible. It brings
per Bowl Teams
as taking full advantage of disciplined head coaches
your Individual Retirement
Account (IRA) and your
401(k) or other employer-
Sl Onsored retirement plan,
pursuing new investment
opportunities as they arise
and reviewing your portfo-
lio regularly to make sure
it's still appropriate for
your needs.
• Stay dedicated to your
goals. Virtually all Super
Bowl teams have had to
overcome obstacles, such
as injuries, bad weather
and a tough schedule. But
through persistence and a
constant devotion to their
ultimate goal, they perse-
vere. As an investor, you'll
face some challenges, too,
such as political and eco-
nomic turmoil that can upset
the financial markets. But if
you own a diversified mix
of quality investments and
follow a long-term strategy
that's tailored to your objec-
tives, tinae horizon and risk
tolerance, you can keep
moving forward, despite
the "bumps in the road" that
all investors face.
• Get good coaching. Super
Bowl teams typically
are well-coached, with
and innovative offensive
and defensive coordina-
tors. When you're trying
to achieve many financial
goals such as a comfort-
able retirement, control over
your investment taxes and a
legacy to leave to your family
you, too, can benefit from
strong "coaching." As your
"head coach," you might
choose a financial profes-
sional -- someone who can
help you identify your goals
and recommend an appro-
priate investment strategy
to help you work toward
them. And your financial
professional can coordinate
activities with your other
"coaches." such as your tax
and legal advisors. Unless
you're a professional foot-
ball player, you won't ever
experience what it's like to
play in the Super Bowl. How-
ever, achieving your financial
goals can be a fairly big event
in your life and to help
work toward that point, you
can take a few tips from the
teams that have made it to the
Big Game.
Matt Hull is a financial
advisor for Edward Jones
Investments in Stillwater.
crisp new calendars, a
new school semester
and a fresh chance for
an organized, calm and
uncluttered life. The
Stillwater Public Library
will help community
members attain their
fresh starts by holding
two free events during
January's "Get Organized
Month."
This year, the library's
"Get Organized Month"
events will focus on orga-
nizing vital documents.
On Wednesday, Jan.
25 at noon, profes-
sional organizer Shan-
non Cowan will present
"Gathering, Organiz-
ing and Storing Your
Essential Documents."
The class will help par-
ticipants identify which
documents are vital, how
to replace lost items and
how to keep items easily
accessible for use in
times of emergency or
crisiL
"Most people may not
need to access their vital
documents very often,"
said Stacy DeLano, adult
services librarian. "But
when you need those
documents, you "really"
need them and most of us
can't produce them at a
moment's notice."
The class is free and
open to persons eigh-
teen and older. A free
lunch will be provided
and participants will be
eligible for several draw=
ings, including one for a
Legacy Drawer, which is
an organizational system
for vital documents.
Enrollment is required
and seating is limited.
To enroll, email askali
brarian @ stillwater.org
or call the Help Desk at
405.372.3633 x106.
Community members are
encouraged to spend time
that Thursday and Friday
sorting through their old
documents and gathering
out of date items for dis-
posal on Sat., Jan. 28. at
Shred-Away's free drive-
thru event. Shred-Away,
a professional document
disposal company will
be in the library's north
parking lot from 10 a.m.
to noon to shred up to
two boxes of documents
per car. Boxes will be
unloaded for participants
and papers will be shred-
ded onsite.
For more informa-
tion, visit the Stillwater
Public Library web site
at library.stillwater.org
or visit the library on
Facebook and Twitter.
Library classes are co-
sponsored by the Friends
of the Library and KOSU.
The Stillwater Public
Library is located at 1107
S. Duck St.
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