The holidays bring a double workload in the accounting profession. Organizers are all in the mail this week and clients are setting appointments. Part-time staff are back training on the new software and learning new office policies. Clients are calling about last minute tax maneuvers.
The holiday bustle is only the start. Soon, office activity will run 16-18 hours a day with everyone working overtime.
The hyper-activity feels good. There is no feeling like it in the world. That moment of excitement when life explodes with action. I am giddy. I already have an appointment on the New Year's holiday. May as well work. Can't sleep anyway.
Showing posts with label philosophy. Show all posts
Showing posts with label philosophy. Show all posts
Thursday, December 29, 2011
Wednesday, December 7, 2011
Want Small Business to Start Hiring Again? Here's How.
Small business has traditionally been the driver of employment growth for more than thirty years. When small business people hire, the economy grows. Large business also hires, but spends significant sums on equipment and downsizing the workforce at every opportunity. Large businesses have also outsourced large portions of thier workforce to other countries.
In the United States we are suffering the slowest employment growth out of a recession since the 1982 recession. The expected driver of job growth, small business, is absent so far in the anemic recovery. Several imoediments discourage small business from hiring, preventing a real economic recovery from taking hold.
As I work with small business owners daily, I see recurrent facts that hold them back from hiring. I also reflect on my own businesses and what keeps me from hiring additional staff. In this post I want to share my finding what needs to happen for business owners to commit to the large expense of additional employees. If we are all lucky, someone in government will read this and take the "real" steps needed to spark hiring, and hence, economic growth. By understanding how the business owner thinks, it will better position you to get a job if you are looking for one.
Costs: Hiring additional employees is expensive and employers are reluctant to commit to the heavy burden if they are uncertain about the future. In my office it costs around $75,000 in wages and benefits to hire one full-time employee. Throw in another $5,000 to $10,000 in expense to find a qualified employee, train them, run background checks, and get them registered with the IRS before they can file one tax return. This does not include the expense of sifting through all the applications, resumes, and interviews.
Once an employee is hired more expenses follow fast and furious. Employers pay Worker's Comp insurance, unemployment insurance federal and state, FICA taxes, and benefits. Unless you are in the accounting field you have a larger bill at the accountant for the additional payroll processing.
Costs are a major concern of employers, but not an overriding factor. If the employer thinks their investment in training a new employee will be profitable for an extended period of time they hire. When the horizon is clouded, employers hold back, sometimes even turning down new accounts to avoid the added overhead of more employees. The cloudy horizon is the main reason small businesses are holding off on hiring more staff. As I will discuss later, rugulation and gavernment manipulation cloud the horizon, forcing potential employers to wait and see before hiring.
In my small tax office my business clients have hired more people over the last three years. However, these business would have hired more if things were more clear. A common conversation with business clients is on how business is going. Without exception, every business client I have has seen an increase in business activity. Most of these employers are delaying as long as possible any additional employment. Uncertainties in taxation, regulation, and givernment manipulation make the decision to hire a difficult one. Laying off a new employee just finishing training is a massive waste of resources.
Taxation: Taxes play a large roll in business decisions. The continued threat of taxing S corporations and large tax law changes around Christmas each year make tax planning more a guessing game than planning. Taxing S corporations would double taxes for most small businesses. Even a micro business could see their taxes increase $5,000 or more if this change is enacted. Most employers can not afford that kind of tax increase and additional employees. Until Congress and The White House make it clear this will not happen jobs will grow slow in the small business sector. This one tax law change could lead to 10% or more of all small businesses closing. Probably more. Most businesses do not have the ability to survive that kind of bady blow financially.
Small business needs a plan. When Congress waits until the last second to pass a tax law each year, business is forced to make decisions based on guessing what the tax code will read come January 1. When Congress waits to clarrify the tax environment, employers wait to hire. Small tweeks are one thing, but massive changes to the Code each year are getting old. When I know what I owe the IRS, I'll decide if I can afford another employee. Until then, regardless of need, no new hires. And most other businesses feel the same whether they say it in so many words or not. They feel the stress and will take steps are self-preservation. What else would you expect.
The tax code has also become overwhelming and burdensome. Taxes touch every part of the employers life. You can get a credit for hiring people, but few know about it. Employers also know that once the credit is gone the expenses still remain, so we need clarity before we commit, regardless of the candy Congress dangles in front of us.
I joke in my office that 29 years ago I started a tax business. Then I became the welfare office with all the new credits from child tax credit to the earned income credit. Now I will also become the Social Services building with the new health care bill working its way into the economy. The government saves money by pushing the work on the tax preparers without any compensation to the people doing the work. Soon, tax preparers will need to ask even more questions about your health insurance. How can accountants charge for work that will only cost the client without any benefit?
Once upon a time if your income was low, you didn't file a tax return. Now, you show up at the tax preparers office and get thousands in credits (a refund) without paying a penny in tax. Nearly half of Americans pay no income tax. Half of Americans have no vested interest in the success of the nation. Half give nothing to the common good, only take. I agree taxes need to be very low for folks with low income. But a negative tax rate? Really?
Regulation: No matter what your field of business, you are in the financial planning, medical, and insurance business. If you are a roofer, good for you. You also better be good at financial planning since you provide retirement services to employees. You better be good at medicine and medicine insurance, too, since you provide health insurance to employees or will be required to shortly. When you should be spending time improving your business so you can hire more employees, you are tucked away in the side office trying to figure out what all the terminology in investments and medicine mean. Many employers don't hire more people because they don't need more work in insurance and financial planning.
Imagine, Monday morning you arrive at work and your boss tells you where you can bank. You can bank elsewhere if you like, but will face a penalty for doing so. How would you feel? Would you give your employer a piece of your mind? Maybe quit your job? I argue banking is less important than your families health or your entire retirement. And your employer tells you which doctors you can see, which hospitals you can get care from, and which investments you can choose from for your retirement plan. Your boss might be a plumber, but he makes a large part of your retirement/financial planning and medical decisions for you. He is an expert on these issues. Right? It is beyond me why unions don't strike demanding employers give their members the cash to buy their own benefits rather than the one-size-fits-all plan they now get.
Employers don't want to be in the medical business unless thay are a hospital. Why hire more people when it includes all these distractions. All the electrical contractor wants to do is electrical work. He prefers insurance, medical, and fiancial experts handle their work on their own without his involvement.
Government Manipulation: Government manipulation comes in two forms: taxations and regulation. Both forms of manipulation force employers big and small to wait for clarity before adding employees.
A short time ago the tax code provided an $8,000 tax credit for certain home buyers. The government manipulation of the real estate markets had two negative effects. First, home prices were about $8,000 higher as people paid more for a home due to the credit. When the credit disappeared, home prices fell by an amount near the credits value. Second, people now will wait to buy a home. You never know when the government will offer another incentive. This one simple tax credit I believe has extended the demise of the real estate market longer than real estate sales and prices would have suffered without the manipulation.
Employers are forced to wait on hiring more people (or put in a new machine instead) due to government manipulation. Why, as an employer, should you take on the risks of more employment when the government can change the rules at a whim, leaving you holding the bag? The government needs to stop paying tax dollars for big business to turn food (corn) into gas (ethenol). Due to this manipulation we now have energy and food inflation. We can all drive less, but how much less do you want to eat? Farmers know corn prices could drop in an instant if government manipulation ends. Why take the plunge when the risks are so high and an all-or-none proposition?
Some regulation is needed. Many of the new tax incentives and regulation has business owners sitting on thier hands. Without clarity, investment decisions are on hold. And employees are an investment decision. A long-term one.
Here is How You Can Get Hired: What can a potential employee do to get a job in a tough job market? As an employer myself I can honestly say most job applicants elliminate themselves from contention. Resumes with serious spelling and grammer errors hurt. Wanting a job with no experience, no training, and no effort by the applicant to understand the job applied for ends any chance of employment.
Formal training is required for some prospective jobs. Many jobs require reseach for a real shot at getting hired. If you are applying for a specialty job that requires licenses or degrees, have those degrees or licenses. Research the company you are applying for. The shotgun approach never works. I deny all applicants that performed no research on my company. Know what services we offer. Don't tell me you would like to give accounting a shot and would like $20 an hour while you test the field. I'll save myself the headaches and hassles by not hiring you.
Act professional. Dress appropriately for the job applying for. Be persistent. A true story will illistrate this best. A business client of mine was not hiring back in the early 1990s due to a soft economy. A young man with a dream of working for that particular company filled out a job application and submitted his resume. The job interview went well but was told the company was not hiring, but they would keep his application on file. The young man did his reseach and knew details on what the company did and how they performed. That is how he got a job interview in the first place. Turned down after the job interview, the young man arrived at the business early every morning a greeted the boss with a million dollar smile.He asked politely if anything opened up since their last meeting. He did this for about a week when the boss invited the young man in and gave him a job. Why? The employer, my client, told me he always has room for more quality employees. Learn this lesson and you will have a job in no time. All risks aside, employers can always use more quality employees that want a job and not just a paycheck. Some will even hire new employees when they officially are not hiring.
My Side of the Desk: With everything said above, I have not hired a new employee in three years. Business was down three years ago, but up the last two years. This year I will hire one new full-time or two part-time employees. The additional work coupled with the cutback in hours by a current employee (she is retirement age) is forcing my hand, however reluctant. I dread the process. Sifting through stacks of applications, most from unqualified appliacants that never even took the time to read the full discription of the job offered, gives me a head ache already. Most will not want a job, only a paycheck. I have enough bills. As an employer, I want to make money off your work. You gets paid and I get a little for my efforts. Otherwise, what incentive do I have to hire anyone at all?
The future is cloudy, but necessity requires I hire at least one part-time person. From the employers perspective, I pray nonstop it works out.
If you stop by my office say "hello" to Karen at the front desk. I turned her down for a job when I wasn't hiring. too. She kept returning with a gut full of enthusiasm, outlining her skills that are a direct fit and benefit to my business. She had the skills I needed in an employee. I relented and hired Karen. Must be ten years now. Good thing she didn't park outside my front door. I would have had to hire her two weeks sooner. Now I'm scared she will leave someday. Then what will I do?
In the United States we are suffering the slowest employment growth out of a recession since the 1982 recession. The expected driver of job growth, small business, is absent so far in the anemic recovery. Several imoediments discourage small business from hiring, preventing a real economic recovery from taking hold.
As I work with small business owners daily, I see recurrent facts that hold them back from hiring. I also reflect on my own businesses and what keeps me from hiring additional staff. In this post I want to share my finding what needs to happen for business owners to commit to the large expense of additional employees. If we are all lucky, someone in government will read this and take the "real" steps needed to spark hiring, and hence, economic growth. By understanding how the business owner thinks, it will better position you to get a job if you are looking for one.
Costs: Hiring additional employees is expensive and employers are reluctant to commit to the heavy burden if they are uncertain about the future. In my office it costs around $75,000 in wages and benefits to hire one full-time employee. Throw in another $5,000 to $10,000 in expense to find a qualified employee, train them, run background checks, and get them registered with the IRS before they can file one tax return. This does not include the expense of sifting through all the applications, resumes, and interviews.
Once an employee is hired more expenses follow fast and furious. Employers pay Worker's Comp insurance, unemployment insurance federal and state, FICA taxes, and benefits. Unless you are in the accounting field you have a larger bill at the accountant for the additional payroll processing.
Costs are a major concern of employers, but not an overriding factor. If the employer thinks their investment in training a new employee will be profitable for an extended period of time they hire. When the horizon is clouded, employers hold back, sometimes even turning down new accounts to avoid the added overhead of more employees. The cloudy horizon is the main reason small businesses are holding off on hiring more staff. As I will discuss later, rugulation and gavernment manipulation cloud the horizon, forcing potential employers to wait and see before hiring.
In my small tax office my business clients have hired more people over the last three years. However, these business would have hired more if things were more clear. A common conversation with business clients is on how business is going. Without exception, every business client I have has seen an increase in business activity. Most of these employers are delaying as long as possible any additional employment. Uncertainties in taxation, regulation, and givernment manipulation make the decision to hire a difficult one. Laying off a new employee just finishing training is a massive waste of resources.
Taxation: Taxes play a large roll in business decisions. The continued threat of taxing S corporations and large tax law changes around Christmas each year make tax planning more a guessing game than planning. Taxing S corporations would double taxes for most small businesses. Even a micro business could see their taxes increase $5,000 or more if this change is enacted. Most employers can not afford that kind of tax increase and additional employees. Until Congress and The White House make it clear this will not happen jobs will grow slow in the small business sector. This one tax law change could lead to 10% or more of all small businesses closing. Probably more. Most businesses do not have the ability to survive that kind of bady blow financially.
Small business needs a plan. When Congress waits until the last second to pass a tax law each year, business is forced to make decisions based on guessing what the tax code will read come January 1. When Congress waits to clarrify the tax environment, employers wait to hire. Small tweeks are one thing, but massive changes to the Code each year are getting old. When I know what I owe the IRS, I'll decide if I can afford another employee. Until then, regardless of need, no new hires. And most other businesses feel the same whether they say it in so many words or not. They feel the stress and will take steps are self-preservation. What else would you expect.
The tax code has also become overwhelming and burdensome. Taxes touch every part of the employers life. You can get a credit for hiring people, but few know about it. Employers also know that once the credit is gone the expenses still remain, so we need clarity before we commit, regardless of the candy Congress dangles in front of us.
I joke in my office that 29 years ago I started a tax business. Then I became the welfare office with all the new credits from child tax credit to the earned income credit. Now I will also become the Social Services building with the new health care bill working its way into the economy. The government saves money by pushing the work on the tax preparers without any compensation to the people doing the work. Soon, tax preparers will need to ask even more questions about your health insurance. How can accountants charge for work that will only cost the client without any benefit?
Once upon a time if your income was low, you didn't file a tax return. Now, you show up at the tax preparers office and get thousands in credits (a refund) without paying a penny in tax. Nearly half of Americans pay no income tax. Half of Americans have no vested interest in the success of the nation. Half give nothing to the common good, only take. I agree taxes need to be very low for folks with low income. But a negative tax rate? Really?
Regulation: No matter what your field of business, you are in the financial planning, medical, and insurance business. If you are a roofer, good for you. You also better be good at financial planning since you provide retirement services to employees. You better be good at medicine and medicine insurance, too, since you provide health insurance to employees or will be required to shortly. When you should be spending time improving your business so you can hire more employees, you are tucked away in the side office trying to figure out what all the terminology in investments and medicine mean. Many employers don't hire more people because they don't need more work in insurance and financial planning.
Imagine, Monday morning you arrive at work and your boss tells you where you can bank. You can bank elsewhere if you like, but will face a penalty for doing so. How would you feel? Would you give your employer a piece of your mind? Maybe quit your job? I argue banking is less important than your families health or your entire retirement. And your employer tells you which doctors you can see, which hospitals you can get care from, and which investments you can choose from for your retirement plan. Your boss might be a plumber, but he makes a large part of your retirement/financial planning and medical decisions for you. He is an expert on these issues. Right? It is beyond me why unions don't strike demanding employers give their members the cash to buy their own benefits rather than the one-size-fits-all plan they now get.
Employers don't want to be in the medical business unless thay are a hospital. Why hire more people when it includes all these distractions. All the electrical contractor wants to do is electrical work. He prefers insurance, medical, and fiancial experts handle their work on their own without his involvement.
Government Manipulation: Government manipulation comes in two forms: taxations and regulation. Both forms of manipulation force employers big and small to wait for clarity before adding employees.
A short time ago the tax code provided an $8,000 tax credit for certain home buyers. The government manipulation of the real estate markets had two negative effects. First, home prices were about $8,000 higher as people paid more for a home due to the credit. When the credit disappeared, home prices fell by an amount near the credits value. Second, people now will wait to buy a home. You never know when the government will offer another incentive. This one simple tax credit I believe has extended the demise of the real estate market longer than real estate sales and prices would have suffered without the manipulation.
Employers are forced to wait on hiring more people (or put in a new machine instead) due to government manipulation. Why, as an employer, should you take on the risks of more employment when the government can change the rules at a whim, leaving you holding the bag? The government needs to stop paying tax dollars for big business to turn food (corn) into gas (ethenol). Due to this manipulation we now have energy and food inflation. We can all drive less, but how much less do you want to eat? Farmers know corn prices could drop in an instant if government manipulation ends. Why take the plunge when the risks are so high and an all-or-none proposition?
Some regulation is needed. Many of the new tax incentives and regulation has business owners sitting on thier hands. Without clarity, investment decisions are on hold. And employees are an investment decision. A long-term one.
Here is How You Can Get Hired: What can a potential employee do to get a job in a tough job market? As an employer myself I can honestly say most job applicants elliminate themselves from contention. Resumes with serious spelling and grammer errors hurt. Wanting a job with no experience, no training, and no effort by the applicant to understand the job applied for ends any chance of employment.
Formal training is required for some prospective jobs. Many jobs require reseach for a real shot at getting hired. If you are applying for a specialty job that requires licenses or degrees, have those degrees or licenses. Research the company you are applying for. The shotgun approach never works. I deny all applicants that performed no research on my company. Know what services we offer. Don't tell me you would like to give accounting a shot and would like $20 an hour while you test the field. I'll save myself the headaches and hassles by not hiring you.
Act professional. Dress appropriately for the job applying for. Be persistent. A true story will illistrate this best. A business client of mine was not hiring back in the early 1990s due to a soft economy. A young man with a dream of working for that particular company filled out a job application and submitted his resume. The job interview went well but was told the company was not hiring, but they would keep his application on file. The young man did his reseach and knew details on what the company did and how they performed. That is how he got a job interview in the first place. Turned down after the job interview, the young man arrived at the business early every morning a greeted the boss with a million dollar smile.He asked politely if anything opened up since their last meeting. He did this for about a week when the boss invited the young man in and gave him a job. Why? The employer, my client, told me he always has room for more quality employees. Learn this lesson and you will have a job in no time. All risks aside, employers can always use more quality employees that want a job and not just a paycheck. Some will even hire new employees when they officially are not hiring.
My Side of the Desk: With everything said above, I have not hired a new employee in three years. Business was down three years ago, but up the last two years. This year I will hire one new full-time or two part-time employees. The additional work coupled with the cutback in hours by a current employee (she is retirement age) is forcing my hand, however reluctant. I dread the process. Sifting through stacks of applications, most from unqualified appliacants that never even took the time to read the full discription of the job offered, gives me a head ache already. Most will not want a job, only a paycheck. I have enough bills. As an employer, I want to make money off your work. You gets paid and I get a little for my efforts. Otherwise, what incentive do I have to hire anyone at all?
The future is cloudy, but necessity requires I hire at least one part-time person. From the employers perspective, I pray nonstop it works out.
If you stop by my office say "hello" to Karen at the front desk. I turned her down for a job when I wasn't hiring. too. She kept returning with a gut full of enthusiasm, outlining her skills that are a direct fit and benefit to my business. She had the skills I needed in an employee. I relented and hired Karen. Must be ten years now. Good thing she didn't park outside my front door. I would have had to hire her two weeks sooner. Now I'm scared she will leave someday. Then what will I do?
Saturday, October 15, 2011
Who Needs a Job?
A few weeks ago I attended a four day weekend seminar on practice development. I am always looking for ways to increase my business, increase efficiency, and provide a better, more value added service, to my clients. The investment in time and money was well worth it.
Spending a long weekend in a hotel conference room for 12 hours a day is grueling work. The variety of topics required attention with a high level of concentration. The money investment was large and I wanted the most value for my dollar.
The first two days we covered acquiring clients and managing the work flow. Getting more work is the easy part. Getting the work done is the challenge. Since I had committed to adding a few more employees, I focused on the client acquisition methods taught with special attention toward moving work through the office in a timely manner without errors.
On day three we practiced what we learned. On day four, alternatives were offered. The one I want to talk about today is outsourcing in the accounting and tax industry. All during the presentation I wondered how America will ever produce jobs when even tax preparers and bookkeepers are looking to move work to India for a fraction of the cost. I listened to the details knowing I would never send my client information anywhere else. Many other accounting firms were far more interested in sending work abroad.
The company that presented their services touted the high level of education of their employees and security of data. The cost was around $12 per hour per employee. I would still be required to scan all documents into the system for the guys in India to do the work. It really is a turn-key service.
The cost of $12 an hour is only a mild advantage until you consider the additional costs of employment: worker's compensation, unemployment (federal and state), payroll taxes, and benefits. It is cheaper to hire someone to scan work in than to hire a professional. And other overhead, such as the space requirements for employees to do the work, adds up.
There are certainly advantages to outsourcing to another country. I will never do it in my office however. I want a personal relationship with my clients. If work is done in house, opportunities to save the client money increases. My profit margins are a little lower, but I hire Americans. It is worth the commitment.
And one more thing. Your accountant cannot send your social security number out of the country without your consent. Consent cannot be buried inside the engagement letter either. If your accountant/tax preparer asks you to sign such a form, get a new accountant. You want a tax/accounting professional committed to you.
The same rules do not apply to partnership and corporate tax returns. Bookkeeping either.
Spending a long weekend in a hotel conference room for 12 hours a day is grueling work. The variety of topics required attention with a high level of concentration. The money investment was large and I wanted the most value for my dollar.
The first two days we covered acquiring clients and managing the work flow. Getting more work is the easy part. Getting the work done is the challenge. Since I had committed to adding a few more employees, I focused on the client acquisition methods taught with special attention toward moving work through the office in a timely manner without errors.
On day three we practiced what we learned. On day four, alternatives were offered. The one I want to talk about today is outsourcing in the accounting and tax industry. All during the presentation I wondered how America will ever produce jobs when even tax preparers and bookkeepers are looking to move work to India for a fraction of the cost. I listened to the details knowing I would never send my client information anywhere else. Many other accounting firms were far more interested in sending work abroad.
The company that presented their services touted the high level of education of their employees and security of data. The cost was around $12 per hour per employee. I would still be required to scan all documents into the system for the guys in India to do the work. It really is a turn-key service.
The cost of $12 an hour is only a mild advantage until you consider the additional costs of employment: worker's compensation, unemployment (federal and state), payroll taxes, and benefits. It is cheaper to hire someone to scan work in than to hire a professional. And other overhead, such as the space requirements for employees to do the work, adds up.
There are certainly advantages to outsourcing to another country. I will never do it in my office however. I want a personal relationship with my clients. If work is done in house, opportunities to save the client money increases. My profit margins are a little lower, but I hire Americans. It is worth the commitment.
And one more thing. Your accountant cannot send your social security number out of the country without your consent. Consent cannot be buried inside the engagement letter either. If your accountant/tax preparer asks you to sign such a form, get a new accountant. You want a tax/accounting professional committed to you.
The same rules do not apply to partnership and corporate tax returns. Bookkeeping either.
Sunday, October 9, 2011
Who Will Protect Us From the Better Business Bureau?
Shopping for a large purchase or service requires research. We ask friends where they bought and the experience; depending on the item, we check Consumer Reports; we scan the internet for information and reviews; and we check with the Better Business Bureau (BBB). But what do we know about our research sources? How unbiased is Consumer Reports? We all know to take online reviews with a grain of salt, but what about the BBB? Should we trust them?
The BBB has reputation as a trusted source of information on businesses. This trust comes from a history of providing consumers with reliable information on a wide variety of businesses. History, unfortunately, has nothing to do with the quality of information disseminated.
The BBB is funded by businesses that are members. Therefore, the BBB has an incentive to keep members looking good so the dues (money) keep rolling in.
A question never asked is: Who watches the BBB? What if the BBB used underhanded practices in the management of their organization? Would you trust the BBB if they spammed businesses or lied to get businesses to join? The bond of trust is fragile and destroyed by bad behavior. It takes a long time to build trust and only a moment to ruin it.
I can't speak toward internal policies at the BBB; I can share my experience with them and it is not flattering. Every year in January, just before tax season kicks off, the BBB in Milwaukee calls me with the good news someone inquired about my company. They refuse to tell me who made the inquiry. I am assured the inquiry is not a complaint, but if I joined the BBB they could provide more and better information on my business. The first year I thought nothing of the event; the second year I knew the gig was up. My thoughts: I only get one inquiry a year and just before tax time? Why is someone inquiring about my business with the Milwaukee BBB, a two hour drive away, when the Appleton BBB is only a few minutes away?
The answers are clear to me. The BBB lied to get at my checkbook. Trust is destroyed. I am not, and never will be, a member of the BBB. The values and ethics the BBB practices are unacceptable in my office. The BBB has every right to try recruiting me as a member. Doing so using underhanded procedures is not.
I no longer use the BBB as a research tool in my purchases as all trust is gone. I cannot help but wonder what other underhanded practices they employ. Would they tell me about bad reports about one of their members? Probably. But I really don't trust them anymore. I trust internet reviews more because there is an understanding the reviews are slanted to the writer's opinion and companies may pay for positive reviews. The BBB wants me to believe they are a more trusted resource when in my mind they are not. Since I don't trust anything the BBB says anymore, why bother looking to the BBB for information.
So I ask again: Who will protect us from the BBB?
The BBB has reputation as a trusted source of information on businesses. This trust comes from a history of providing consumers with reliable information on a wide variety of businesses. History, unfortunately, has nothing to do with the quality of information disseminated.
The BBB is funded by businesses that are members. Therefore, the BBB has an incentive to keep members looking good so the dues (money) keep rolling in.
A question never asked is: Who watches the BBB? What if the BBB used underhanded practices in the management of their organization? Would you trust the BBB if they spammed businesses or lied to get businesses to join? The bond of trust is fragile and destroyed by bad behavior. It takes a long time to build trust and only a moment to ruin it.
I can't speak toward internal policies at the BBB; I can share my experience with them and it is not flattering. Every year in January, just before tax season kicks off, the BBB in Milwaukee calls me with the good news someone inquired about my company. They refuse to tell me who made the inquiry. I am assured the inquiry is not a complaint, but if I joined the BBB they could provide more and better information on my business. The first year I thought nothing of the event; the second year I knew the gig was up. My thoughts: I only get one inquiry a year and just before tax time? Why is someone inquiring about my business with the Milwaukee BBB, a two hour drive away, when the Appleton BBB is only a few minutes away?
The answers are clear to me. The BBB lied to get at my checkbook. Trust is destroyed. I am not, and never will be, a member of the BBB. The values and ethics the BBB practices are unacceptable in my office. The BBB has every right to try recruiting me as a member. Doing so using underhanded procedures is not.
I no longer use the BBB as a research tool in my purchases as all trust is gone. I cannot help but wonder what other underhanded practices they employ. Would they tell me about bad reports about one of their members? Probably. But I really don't trust them anymore. I trust internet reviews more because there is an understanding the reviews are slanted to the writer's opinion and companies may pay for positive reviews. The BBB wants me to believe they are a more trusted resource when in my mind they are not. Since I don't trust anything the BBB says anymore, why bother looking to the BBB for information.
So I ask again: Who will protect us from the BBB?
Monday, September 26, 2011
Paper Losses
I visited one of my print shop clients recently to finish some tax reports and pick up bookkeeping papers. As he refilled his copier for the third time with 800 sheets, holding a ream of paper, he said, "And each pack of paper is short." My eyes glossed until the weight of his words sunk in.
"What?"
"Yeah. Each ream is short. The average ream has 493 sheets instead of the 500 listed on the package."
I asked him how he knew this, knowing he would never sit down and count how many sheets are in a pack.
He pointed to his printer. "The machine prints the customer the right amount."
Argument settled and a lesson learned. Consumers of paper are suffering a paper loss and don't know it. And even though we are a paperless office, we still use enough paper to make the shortage count (pun intended.)
The 7 page average shortage is 1.4%. A small office may spend $10,000 a year on paper (accounting offices, at least.) This adds up to around $140 per year in losses. I don't know about you, but $140 means a lot to me. I feel violated. And now that you know, you do, too.
Welcome to my world.
"What?"
"Yeah. Each ream is short. The average ream has 493 sheets instead of the 500 listed on the package."
I asked him how he knew this, knowing he would never sit down and count how many sheets are in a pack.
He pointed to his printer. "The machine prints the customer the right amount."
Argument settled and a lesson learned. Consumers of paper are suffering a paper loss and don't know it. And even though we are a paperless office, we still use enough paper to make the shortage count (pun intended.)
The 7 page average shortage is 1.4%. A small office may spend $10,000 a year on paper (accounting offices, at least.) This adds up to around $140 per year in losses. I don't know about you, but $140 means a lot to me. I feel violated. And now that you know, you do, too.
Welcome to my world.
Sunday, September 11, 2011
Where Were You?
Every generation has that moment where everyone remembers where they were and what they were doing. My grandfather's moment was the attack on Pearl Harbor; my father's, President Kennedy's assassination; for the current generation, 9/11, or to be more accurate, the planes hitting the World Trade Center towers. The plane crashing in Pennsylvania and into the Pentagon do not light our memories like the Twin Towers. The courageous efforts of those on United Airlines Flight 93 made the ultimate sacrifice by crashing the aircraft in Pennsylvania, saving another target from destruction. They should not be forgotten. The Pentagon is a military target and had less impact on people further from the destruction and not personally affected. They also shall never be forgotten.
I remember where I was and what I was doing when the news broke. I was watching CNBC as I dressed for work when newsanchor, Mark Hanes, inturupted the discussion to report a plane hit the North Tower of the World Trade Center. Live video of the smoking building filled the screen. I had two thoughts: How the h*%$ could a pilot hit a building in a city center, and, How will they (firefighters) ever get up there to rescue people and put out the fire. After a few moments I began to wonder how repairs are made in such a situation. At this point it seemed nothing more than a serious and unfortunate accident.
The horror was about to grow as reports came in this may be a terrorist attack. A short while later it was confirmed as the world watched live as Flight 175 crashed into the South Tower. I sat on the edge of my couch too numb to weep.
I stayed home that day and watched the horror unfold. My emotions ranged from angry, to sad, to depressed. My heart went out to the dead and their families, injured, and scared. The United States has not been the same since.
I have no cute remarks to end this post. There is nothing funny about the events on September 11, 2001. As the day ended ten years ago, I thought, Welcome to the Twenty First Century. The science fiction writers never told us it could be like this.
Use the comments section to share your story.
I remember where I was and what I was doing when the news broke. I was watching CNBC as I dressed for work when newsanchor, Mark Hanes, inturupted the discussion to report a plane hit the North Tower of the World Trade Center. Live video of the smoking building filled the screen. I had two thoughts: How the h*%$ could a pilot hit a building in a city center, and, How will they (firefighters) ever get up there to rescue people and put out the fire. After a few moments I began to wonder how repairs are made in such a situation. At this point it seemed nothing more than a serious and unfortunate accident.
The horror was about to grow as reports came in this may be a terrorist attack. A short while later it was confirmed as the world watched live as Flight 175 crashed into the South Tower. I sat on the edge of my couch too numb to weep.
I stayed home that day and watched the horror unfold. My emotions ranged from angry, to sad, to depressed. My heart went out to the dead and their families, injured, and scared. The United States has not been the same since.
I have no cute remarks to end this post. There is nothing funny about the events on September 11, 2001. As the day ended ten years ago, I thought, Welcome to the Twenty First Century. The science fiction writers never told us it could be like this.
Use the comments section to share your story.
Sunday, July 24, 2011
Will Higher Taxes Cost Jobs?
The debate about taxes in Washington is always the same: raising taxes will cost jobs. But what does history say about the subject? Will higher taxes cost jobs? Is there empirical evidence to support the claim?
Before we dig in too far I must point out I am not supporting one political party over the other, nor am I advocating for higher taxes. I merely point out historical facts on how tax increases affect job growth. No nasty emails, please. Respectful comments can be added below.
Income taxes in the United States began with the Civil War and were declared unconstitutional shortly after the war. World War I brought heavy financial demands on the Treasury, so an amendment was added to the Constitution allowing income taxes as we know them today. Income taxes started in 1913 and have continued unabated to today.
The first real opportunity to reduce income taxes significantly was after WWI. Major tax cuts to the top marginal tax rates in the mid 1920's lead to rapid growth in the economy. In a few years the over-heated, over-producing nation suffered a hangover called The Great Depression. The lesson learned is that lower top marginal tax rates provide a short-term boost to the economy followed by significant economic pain caused by the encouraged ramp-up in production. The lower rates encouraged current demand and sucked up future demand until a long recession was needed to work through the excesses.
Closer to home, President Kennedy reduced the top tax bracket from 90% to 70%. The 1960's were mostly good economic times. The economic issues of the 1970's were more related to demographics, expansion of the money supply during the Vietnam War, and oil shocks. Lowering marginal tax brackets that are very high seem to work long and short term.
President Reagan lowered top marginal tax brackets, too. Heavy emphasis was placed on encouraging supply by allowing fast expensing of assets for businesses. The economy boomed as employment increased and inflation dropped. The federal government ran large budget deficits during the entire period. If Social Security had the lower surpluses of today, President Reagan's deficit spending would have exceeded the rate of today's as a percent of GDP. The stock market crashed in 1987 by 22% in one day, the largest percentage drop on record. The economy only slowed without a recession and accelerated into the end of the decade before giving way to a real recession.
Like today, the 1990's saw a Democratic president and a Republican Congress from President Clinton's first midterm elections. Deficit spending that was acceptable to the Republicans under Reagan and Bush were untenable under Clinton. A tax increase coupled with spending cuts set the federal government up for the largest budget surpluses ever. But higher taxes did not kill the economy. Rather, the economy boomed with job growth, corporate profits, and the stock market walking hand in hand. Tax increases did not kill jobs in the 1990's because the top marginal tax rate was increased to 39.6%, a historically low top marginal tax rate.
Once Clinton left office, the newest Bush presidency set out to lower taxes by a massive amount. Deficit spending was back in place. More tax cuts over the first six years of George W. Bush created only a modest number of new jobs while expanding debt, public and private. By the end of the first decade of the Twenty-First Century the economy was in shambles, government receipts declining, job losses exceeding those created over the previous six years, and nothing seemed to shake the sluggishness that set in.
Lower taxes did not help create jobs in the 2000's; slightly higher taxes gave us a job creating juggernaut in the 1990's. The tax code today has so many moving parts no one person understand the entire beast. Deductions and credits exist for every possible activity. Raising taxes by reducing deductions and credits should reduce the cost of complying with the tax code for individuals and businesses.
So the question remains: If we raise taxes will it cost jobs? It seems to me that a modest tax increase or a reduction in certain tax credits could actually encourage job growth. Any real effort to reduce Washington's red ink will require spending cuts and revenue increases.
Simplification of the tax code would provide real encouragement for businesses to hire. Businesses and individuals spend too much unproductive time gaming the tax system. A simpler tax code with fewer deductions and credits would allow certain tax rates to decline, especially for the middle class.
Remember, raising taxes are the thing to do as long as it is not my taxes being raised.
Before we dig in too far I must point out I am not supporting one political party over the other, nor am I advocating for higher taxes. I merely point out historical facts on how tax increases affect job growth. No nasty emails, please. Respectful comments can be added below.
Income taxes in the United States began with the Civil War and were declared unconstitutional shortly after the war. World War I brought heavy financial demands on the Treasury, so an amendment was added to the Constitution allowing income taxes as we know them today. Income taxes started in 1913 and have continued unabated to today.
The first real opportunity to reduce income taxes significantly was after WWI. Major tax cuts to the top marginal tax rates in the mid 1920's lead to rapid growth in the economy. In a few years the over-heated, over-producing nation suffered a hangover called The Great Depression. The lesson learned is that lower top marginal tax rates provide a short-term boost to the economy followed by significant economic pain caused by the encouraged ramp-up in production. The lower rates encouraged current demand and sucked up future demand until a long recession was needed to work through the excesses.
Closer to home, President Kennedy reduced the top tax bracket from 90% to 70%. The 1960's were mostly good economic times. The economic issues of the 1970's were more related to demographics, expansion of the money supply during the Vietnam War, and oil shocks. Lowering marginal tax brackets that are very high seem to work long and short term.
President Reagan lowered top marginal tax brackets, too. Heavy emphasis was placed on encouraging supply by allowing fast expensing of assets for businesses. The economy boomed as employment increased and inflation dropped. The federal government ran large budget deficits during the entire period. If Social Security had the lower surpluses of today, President Reagan's deficit spending would have exceeded the rate of today's as a percent of GDP. The stock market crashed in 1987 by 22% in one day, the largest percentage drop on record. The economy only slowed without a recession and accelerated into the end of the decade before giving way to a real recession.
Like today, the 1990's saw a Democratic president and a Republican Congress from President Clinton's first midterm elections. Deficit spending that was acceptable to the Republicans under Reagan and Bush were untenable under Clinton. A tax increase coupled with spending cuts set the federal government up for the largest budget surpluses ever. But higher taxes did not kill the economy. Rather, the economy boomed with job growth, corporate profits, and the stock market walking hand in hand. Tax increases did not kill jobs in the 1990's because the top marginal tax rate was increased to 39.6%, a historically low top marginal tax rate.
Once Clinton left office, the newest Bush presidency set out to lower taxes by a massive amount. Deficit spending was back in place. More tax cuts over the first six years of George W. Bush created only a modest number of new jobs while expanding debt, public and private. By the end of the first decade of the Twenty-First Century the economy was in shambles, government receipts declining, job losses exceeding those created over the previous six years, and nothing seemed to shake the sluggishness that set in.
Lower taxes did not help create jobs in the 2000's; slightly higher taxes gave us a job creating juggernaut in the 1990's. The tax code today has so many moving parts no one person understand the entire beast. Deductions and credits exist for every possible activity. Raising taxes by reducing deductions and credits should reduce the cost of complying with the tax code for individuals and businesses.
So the question remains: If we raise taxes will it cost jobs? It seems to me that a modest tax increase or a reduction in certain tax credits could actually encourage job growth. Any real effort to reduce Washington's red ink will require spending cuts and revenue increases.
Simplification of the tax code would provide real encouragement for businesses to hire. Businesses and individuals spend too much unproductive time gaming the tax system. A simpler tax code with fewer deductions and credits would allow certain tax rates to decline, especially for the middle class.
Remember, raising taxes are the thing to do as long as it is not my taxes being raised.
Tuesday, July 12, 2011
Why the Post Office is Broke
The call is out: The U.S. Post Office is running at a deficit. The red ink is piling up at a rapid pace so it is time to raise postage rates to cover the shortfall. You would think under the current environment the Post Office would grasp at any stream of additional revenue. The Internet and electronic bill pay has reduced mail volumes with only one notable growth area: Netflix. Even with streaming, Netflix still provides a steady and massive volume of mail.
A few days ago I put a Netflix movie in my mailbox and raised the flag. When I returned home that evening the movie was still there and the flag still up. I called the post office to complain and was informed that if I have no inbound mail the mail carrier is not required to pickup outbound mail.
And now you know why the Post Office is broke. They drive past easy business.
A few days ago I put a Netflix movie in my mailbox and raised the flag. When I returned home that evening the movie was still there and the flag still up. I called the post office to complain and was informed that if I have no inbound mail the mail carrier is not required to pickup outbound mail.
And now you know why the Post Office is broke. They drive past easy business.
Wednesday, July 6, 2011
Blame It On the Unions
In case you have not noticed, we have labor union issues here in Wisconsin. It started when Governor Scott Walker stripping collective bargaining rights from public employee's unions. Teachers (and others) went on the offensive and have 6 Republican and 3 Democrats facing recall elections.
I do not belong, nor ever belonged, to a labor union. I have been self-employed at some level my entire adult life with the exception of 18 months early on. I believe unions have good and bad points. Nothing is all good or all bad. The truth lies somewhere in the middle.
With the above disclaimer said, I want to posit a few facts. I intend no fights; I only want people to think about it. When labor unions were on the rise and later very powerful in the United States, the United States won two world wars and lead the planet economically, in standard of living, militarily, and with a vibrant middle class. As labor unions have declined, so have middle class living standards and our standing in the world on all fronts save debt accumulation.
If unions are so bad, why is this? If unions are so good, why are they in decline? Think about it.
I do not belong, nor ever belonged, to a labor union. I have been self-employed at some level my entire adult life with the exception of 18 months early on. I believe unions have good and bad points. Nothing is all good or all bad. The truth lies somewhere in the middle.
With the above disclaimer said, I want to posit a few facts. I intend no fights; I only want people to think about it. When labor unions were on the rise and later very powerful in the United States, the United States won two world wars and lead the planet economically, in standard of living, militarily, and with a vibrant middle class. As labor unions have declined, so have middle class living standards and our standing in the world on all fronts save debt accumulation.
If unions are so bad, why is this? If unions are so good, why are they in decline? Think about it.
Wednesday, June 15, 2011
I Don't Have to Pay My Loans Either
My wife and I have an ongoing spat. (OK, I am making it up to make a point.) The argument is centered around how much we should spend on certain items in our family budget. I think we should fill the fridge with food, fund the retirement accounts, and invest for the kid's college fund. I am willing to work a few more hours to pay for these things.
My wife thinks I'm an idiot. She can't wait to move my tail out of the house and bring in a husband that thinks like she does. She says we should work even fewer hours and cut spending. Who cares about college and retirement so far in the future. As for the leaking roof, my wife thinks a patch is better than replacement. Since she holds the checkbook, she refuses to pay the credit card bill and mortgage until I agree with her and cut our income and spending. I tell her she is nuts. She says she called the mortgage and credit card company and they were fine with us paying late if it helped us get out financial house in order.
The above example is exactly how Congress is acting with the debt ceiling limit. Wisconsin Rep. Paul Ryan says he talked with U.S. debt holders and was told a late payment is fine, especially if it leads to more fiscal responsibility later.
Back to our example. The due date for the credit card comes and goes without payment. Two weeks later the wife and I kiss and make up. The credit card is paid. No harm, no foul. Right?
Wrong! The bank now knows we are willing to leave bills unpaid even when we have the money to pay. The money was available to pay the credit card. We just chose not to pay it until we agreed to get along. The bank IS okay with the late payment because the interest rate was hiked from 8% to 18%. It will stay that way for years even with no future late payments.
Back to the real world. Do you really think U.S. debt holders will be fine with a missed or late interest payment? To a point, maybe. But really? No. Debt holders will now need a higher rate to compensate for the risk. Not just the risk of hard economic times, but lover's spats, too. Treasurys will no longer be the premium cash management tool they once were. All Americans will pay the price then for the stupidity of Congress and for a long time.
The Republicans and Democrats in Congress need to stop acting like an old married couple with an ax to grind and start acting like the professionals the American people thought they hired to run the country. Americans, and the world, are counting on it.
My wife thinks I'm an idiot. She can't wait to move my tail out of the house and bring in a husband that thinks like she does. She says we should work even fewer hours and cut spending. Who cares about college and retirement so far in the future. As for the leaking roof, my wife thinks a patch is better than replacement. Since she holds the checkbook, she refuses to pay the credit card bill and mortgage until I agree with her and cut our income and spending. I tell her she is nuts. She says she called the mortgage and credit card company and they were fine with us paying late if it helped us get out financial house in order.
The above example is exactly how Congress is acting with the debt ceiling limit. Wisconsin Rep. Paul Ryan says he talked with U.S. debt holders and was told a late payment is fine, especially if it leads to more fiscal responsibility later.
Back to our example. The due date for the credit card comes and goes without payment. Two weeks later the wife and I kiss and make up. The credit card is paid. No harm, no foul. Right?
Wrong! The bank now knows we are willing to leave bills unpaid even when we have the money to pay. The money was available to pay the credit card. We just chose not to pay it until we agreed to get along. The bank IS okay with the late payment because the interest rate was hiked from 8% to 18%. It will stay that way for years even with no future late payments.
Back to the real world. Do you really think U.S. debt holders will be fine with a missed or late interest payment? To a point, maybe. But really? No. Debt holders will now need a higher rate to compensate for the risk. Not just the risk of hard economic times, but lover's spats, too. Treasurys will no longer be the premium cash management tool they once were. All Americans will pay the price then for the stupidity of Congress and for a long time.
The Republicans and Democrats in Congress need to stop acting like an old married couple with an ax to grind and start acting like the professionals the American people thought they hired to run the country. Americans, and the world, are counting on it.
Sunday, June 5, 2011
Gus What?
Now that tax season is finally winding down I have the time to reflect on what I want to do with the extra three or four free minutes I get each day. (Yes, I know it is June. I'll explain later.) This blog post will help you understand how your friendly accountant thinks. It is insightful because I see a lot of people over the year and how they manage their money, time, and lives. I recently had a brainstorm that can help you in your life if you open your mind to the possibilities.
First some background. Tax season does NOT end on April 15th; it ends around Memorial Day. Tax season begins around mid-December with setting up tax software and mailing calendars and pre-appointments to clients. Between Christmas and New Year's Day the office is fully staffed with all non-tax preparing employees and additional part-time help. Pre-appointments take a lot of time to set up in the computer. Happy Holidays guys!
January is flush with year-end payroll reports, 1099s, and W-2s. All regular full- and part-time employees begin their tax season schedule the first workday of January. A few small tax returns straggle in by mid-January with a rapid influx the last few days of the month and escalating to season heights in early February.
With a large number of smaller tax returns done, March puts the rush on corporate returns due March 15th. By now the entire office is living on caffeine to keep going. But there is no time to lollygag. The April 15th deadline is fast approaching.
All this time, from mid-December to mid-April, I promise people I'll get to my other work as soon as tax season is over. And, like clock work, the phone rings 926 times with 23, 439 emails on April 16th. Every phone call and email starts with, "Getting ready to enjoy your vacation time?" I smile, but my teeth are grinding. I roll up my sleeves and dig in hot and heavy. By about June 1st I am reasonably caught up. Then I sit back, crack open a cold one and sleep the day away until next December. Oh wait! That last bit was my fantasy. Sorry about that.
I know what you are thinking. You think I am a lucky stiff that works half the year and takes it easy the other half playing golf and other assorted distractions. Well, I am sorry to burst your bubble, but, things only slow down from the hectic to the barely manageable for the last half of the year. What the slow down does allow is for some time for personal interests.
Accountants make their money (virtually all of it) in the first half of the year. It is common to work for six months at a loss to make a nice income in the spring. Accountants are also tight with a dollar. We have to be. The paycheck we get in late April needs to last until January. Compared to most accountants, I am even tighter. My wife says it takes the Jaws of Life to open my wallet. She also says Washington and Lincoln squint when my wallet is opened from the rare glimpse of sunlight.
Accountants are practical people. At least I like to tell myself such. That extra three or four minutes a day allows me to have a nice garden. I am up to four this year and am proud to tell you I should break the 1000 pound mark for harvested potatoes this year. I also added three varieties of grapes and raspberries this year. This fall we should can 50 or more quarts of pears and another 30 of plums. I make home-made wine (dandelion, red clover, current, and grape are my favorite), can and freeze hundreds of pounds of beans carrots, cauliflower, broccoli, and anything else I was crazy enough to plant. We also dehydrate hundred of onions, pears and apples.
I tell you these things so you understand where I am and how my thought processes work. You see, I like to extend the period of time I make money. I need something to add to the garden that takes only a modest amount of work, makes good money, and takes time outside tax season only. And that leads to today's topic: Gus What?
I have a small asparagus patch that has kept me satisfied for years. But this year I bought a few more crowns and propagated what I already have. Next year my production should skyrocket over 400%; the year after should exceed 2,000% of this year's take. Within five years I hope to harvest asparagus (which I affectionately call gusses) by the ton. Asparagus sells for $3-4 a pound in local grocery stores. One acre well tended can produce between 3 and 8 tones of asparagus. It takes an hour or so to pick an acre of asparagus. Asparagus picking season is one month where I live (from mid May to mid June). Asparagus keeps well if the cut ends are placed in cold water and kept in the fridge. Asparagus can remain fresh months this way. I can see a nice new side business developing.
This morning for breakfast I enjoyed gusses cut into one inch pieces, sautéed in olive oil, mixed with scrambled eggs until completely done, and covered in Tabasco. My god, I was in heaven.
Oh! I gotta go. My wife is coming and she doesn't like me talking these fantasies. She knows I'm just crazy enough to do it.
First some background. Tax season does NOT end on April 15th; it ends around Memorial Day. Tax season begins around mid-December with setting up tax software and mailing calendars and pre-appointments to clients. Between Christmas and New Year's Day the office is fully staffed with all non-tax preparing employees and additional part-time help. Pre-appointments take a lot of time to set up in the computer. Happy Holidays guys!
January is flush with year-end payroll reports, 1099s, and W-2s. All regular full- and part-time employees begin their tax season schedule the first workday of January. A few small tax returns straggle in by mid-January with a rapid influx the last few days of the month and escalating to season heights in early February.
With a large number of smaller tax returns done, March puts the rush on corporate returns due March 15th. By now the entire office is living on caffeine to keep going. But there is no time to lollygag. The April 15th deadline is fast approaching.
All this time, from mid-December to mid-April, I promise people I'll get to my other work as soon as tax season is over. And, like clock work, the phone rings 926 times with 23, 439 emails on April 16th. Every phone call and email starts with, "Getting ready to enjoy your vacation time?" I smile, but my teeth are grinding. I roll up my sleeves and dig in hot and heavy. By about June 1st I am reasonably caught up. Then I sit back, crack open a cold one and sleep the day away until next December. Oh wait! That last bit was my fantasy. Sorry about that.
I know what you are thinking. You think I am a lucky stiff that works half the year and takes it easy the other half playing golf and other assorted distractions. Well, I am sorry to burst your bubble, but, things only slow down from the hectic to the barely manageable for the last half of the year. What the slow down does allow is for some time for personal interests.
Accountants make their money (virtually all of it) in the first half of the year. It is common to work for six months at a loss to make a nice income in the spring. Accountants are also tight with a dollar. We have to be. The paycheck we get in late April needs to last until January. Compared to most accountants, I am even tighter. My wife says it takes the Jaws of Life to open my wallet. She also says Washington and Lincoln squint when my wallet is opened from the rare glimpse of sunlight.
Accountants are practical people. At least I like to tell myself such. That extra three or four minutes a day allows me to have a nice garden. I am up to four this year and am proud to tell you I should break the 1000 pound mark for harvested potatoes this year. I also added three varieties of grapes and raspberries this year. This fall we should can 50 or more quarts of pears and another 30 of plums. I make home-made wine (dandelion, red clover, current, and grape are my favorite), can and freeze hundreds of pounds of beans carrots, cauliflower, broccoli, and anything else I was crazy enough to plant. We also dehydrate hundred of onions, pears and apples.
I tell you these things so you understand where I am and how my thought processes work. You see, I like to extend the period of time I make money. I need something to add to the garden that takes only a modest amount of work, makes good money, and takes time outside tax season only. And that leads to today's topic: Gus What?
I have a small asparagus patch that has kept me satisfied for years. But this year I bought a few more crowns and propagated what I already have. Next year my production should skyrocket over 400%; the year after should exceed 2,000% of this year's take. Within five years I hope to harvest asparagus (which I affectionately call gusses) by the ton. Asparagus sells for $3-4 a pound in local grocery stores. One acre well tended can produce between 3 and 8 tones of asparagus. It takes an hour or so to pick an acre of asparagus. Asparagus picking season is one month where I live (from mid May to mid June). Asparagus keeps well if the cut ends are placed in cold water and kept in the fridge. Asparagus can remain fresh months this way. I can see a nice new side business developing.
This morning for breakfast I enjoyed gusses cut into one inch pieces, sautéed in olive oil, mixed with scrambled eggs until completely done, and covered in Tabasco. My god, I was in heaven.
Oh! I gotta go. My wife is coming and she doesn't like me talking these fantasies. She knows I'm just crazy enough to do it.
Monday, May 23, 2011
If You Have a Good-Paying Job You're an #$@%$#!
Where did it all begin? When as a society did we decided anyone with a good job and salary is the enemy? There has been loathing of doctors for a long time over pay issues. Loathing for other top-earners has been less intense until now. Now, anyone making more than $30,000 a year is the problem vexing our economy and society. But are they really the pariahs we make them out to be?
Over the weekend I read an article on Yahoo (I will not provide a link as it will be a broken link before long) that shouted a small town in California is up in arms over lifeguards making over $200,000 per year. The reality is far from the headline. Exactly two people in the entire department made over $200K in wages and benefits. These two people worked there for over 20 years and were in management, not sitting on the lifeguard towers. However, people interviewed thought lifeguards should work for free since they get to watch girls in bikinis all day long. Really! The lifeguards make in the mid-teens per hour. They are trained and work long hours, getting overtime pay on a regular basis. Is it really a crime to pay people for working a job? Especially if they enjoy the work?
Earlier this year the teachers got kicked around by the state of Wisconsin due to the perceived excess wages and benefits teachers receive. So it is wrong to make a good living teaching our children? I think it more productive to work on education solutions preparing our children for our high tech economy. Does it make more sense to keep our best teachers, pay them well, and work together toward solutions everyone can live with?
What is the psychology behind this "hate the well-paid people" movement? The message is clear. When you despise someone for making more money you are in effect telling your own mind you also deserve less no matter how hard you work. There are people that are overpaid. There are underpaid people, too. Shooting the rich will not make the poor better off; it will not lower unemployment or balance the budget. It will just make everyone afraid to get that better paying job for fear of being shot next. Sounds like radical socialism to me. How did that work out for the Soviets?
Over the weekend I read an article on Yahoo (I will not provide a link as it will be a broken link before long) that shouted a small town in California is up in arms over lifeguards making over $200,000 per year. The reality is far from the headline. Exactly two people in the entire department made over $200K in wages and benefits. These two people worked there for over 20 years and were in management, not sitting on the lifeguard towers. However, people interviewed thought lifeguards should work for free since they get to watch girls in bikinis all day long. Really! The lifeguards make in the mid-teens per hour. They are trained and work long hours, getting overtime pay on a regular basis. Is it really a crime to pay people for working a job? Especially if they enjoy the work?
Earlier this year the teachers got kicked around by the state of Wisconsin due to the perceived excess wages and benefits teachers receive. So it is wrong to make a good living teaching our children? I think it more productive to work on education solutions preparing our children for our high tech economy. Does it make more sense to keep our best teachers, pay them well, and work together toward solutions everyone can live with?
What is the psychology behind this "hate the well-paid people" movement? The message is clear. When you despise someone for making more money you are in effect telling your own mind you also deserve less no matter how hard you work. There are people that are overpaid. There are underpaid people, too. Shooting the rich will not make the poor better off; it will not lower unemployment or balance the budget. It will just make everyone afraid to get that better paying job for fear of being shot next. Sounds like radical socialism to me. How did that work out for the Soviets?
Sunday, March 20, 2011
The Power of Focus
Recently I wrote about the power of momentum. Today I want to talk about momentum's close cousin, focus. Focus and momentum walk hand in hand. The quality of life equation includes many variables and focus in one of the important ones.
In my line of work focus is very important, it is required to get anything done and to have any quality of life. It is too easy to worry about work when at home and too easy to feel guilty when at work when I would rather be with family. Of course, this is a recipe for getting nothing done and feeling terrible all the time.
There are no magic bullets to hone focus. Focus is a muscle that needs regular exercise to function well. We have all experienced the "zone"; that place where we are hyper productive and focused on the task at hand. For me this is more than a feeling; it is an emotional place. Usually I require quiet time and a closed door to reach this place and focus my attention. Sometimes I play loud music as a mental closed door (Stephen King writes to loud music as his way of shutting out the world while he focuses on his work). You need to look inside yourself to find this "zone."
Guilt destroys focus faster than anything else. When I prepare tax returns or perform other accounting tasks I shut out the world and do not worry about home, family, health, neighbors, world events, and so on. I refuse to feel guilty or complain about my time away from family and friends. Long ago I decided I choose to work. I can live on a lot less if I really do not want to work as an accountant.
The same applies in my private life. I could care less about the office when at home with family. If work blows up, so it goes (as Kurt Vonnegut says). I enjoy and experience the moment at hand. It is all any of us have.
The real trick lay at the borderline. Sometimes I work from home. I never feel any obligation to do so, but when I really want to complete a large task I will log into the office and tackle a job. I write from home. This blog post is evolving less than two hours before a family social gathering. However, I am focused on writing this piece while I write it and will not give it a thought when with family. I have a few projects I could log into the office for this weekend, but opted to spend my free time with family. My grandfather is very ill and the clock is reaching its end. It is challenging to focus with issues so large and important. But I get better at it with age.
If you desire for better things, being a better father or mother, a better husband or wife, a better employee or boss, a better friend or neighbor, a better writer, a better accountant or any occupation of your choosing, better at anything, focus. Find that place where momentum takes place and quality of life grows.
Taxes are important. Deal with the issues and move on. Taxes are not life; taxes are a fact of life. Spend the required time each week or month gathering the information you need to manage your finances and taxes. Then move on to the important things. Focus on the task at hand so the remaining 99% of your life can be an exercise in enjoyment.
That's my story and I'm sticking to it. Now what was I doing?
In my line of work focus is very important, it is required to get anything done and to have any quality of life. It is too easy to worry about work when at home and too easy to feel guilty when at work when I would rather be with family. Of course, this is a recipe for getting nothing done and feeling terrible all the time.
There are no magic bullets to hone focus. Focus is a muscle that needs regular exercise to function well. We have all experienced the "zone"; that place where we are hyper productive and focused on the task at hand. For me this is more than a feeling; it is an emotional place. Usually I require quiet time and a closed door to reach this place and focus my attention. Sometimes I play loud music as a mental closed door (Stephen King writes to loud music as his way of shutting out the world while he focuses on his work). You need to look inside yourself to find this "zone."
Guilt destroys focus faster than anything else. When I prepare tax returns or perform other accounting tasks I shut out the world and do not worry about home, family, health, neighbors, world events, and so on. I refuse to feel guilty or complain about my time away from family and friends. Long ago I decided I choose to work. I can live on a lot less if I really do not want to work as an accountant.
The same applies in my private life. I could care less about the office when at home with family. If work blows up, so it goes (as Kurt Vonnegut says). I enjoy and experience the moment at hand. It is all any of us have.
The real trick lay at the borderline. Sometimes I work from home. I never feel any obligation to do so, but when I really want to complete a large task I will log into the office and tackle a job. I write from home. This blog post is evolving less than two hours before a family social gathering. However, I am focused on writing this piece while I write it and will not give it a thought when with family. I have a few projects I could log into the office for this weekend, but opted to spend my free time with family. My grandfather is very ill and the clock is reaching its end. It is challenging to focus with issues so large and important. But I get better at it with age.
If you desire for better things, being a better father or mother, a better husband or wife, a better employee or boss, a better friend or neighbor, a better writer, a better accountant or any occupation of your choosing, better at anything, focus. Find that place where momentum takes place and quality of life grows.
Taxes are important. Deal with the issues and move on. Taxes are not life; taxes are a fact of life. Spend the required time each week or month gathering the information you need to manage your finances and taxes. Then move on to the important things. Focus on the task at hand so the remaining 99% of your life can be an exercise in enjoyment.
That's my story and I'm sticking to it. Now what was I doing?
Saturday, March 12, 2011
Friday, January 28, 2011
The Power of Momentum
Everyone has experienced the moments when things go right. It starts with something small going your way and continuing with repeated successes. The older we get the more we recognize the pattern. We fear the reverse when all goes wrong and work to prolong the moments that go right.
It is important to recognize any success as the possible beginning of a long period of wins. Deep inside we know that the wins are coincidence. We also know we personally have a lot to do with the series of positive outcomes. Once we recognize a win we kick in the after-burners and attempt to leverage our perceived advantage.
Then the inevitable happens. The string is broken. A setback slams us back into our seat. These moments allow us to reflect and learn. The sooner we jump out of the chair and start another string of wins the better.
Too many people allow a bad event to freeze them like a deer in the headlights. Taxes have the ability to destroy a lifetime with inaction. FEAR (False Evidence Appearing Real) keeps some folks locked in their own secluded world. Do not become a victim of your own FEAR.
Gather all your tax materials together. Take them to the accountant or assemble for self-preparation. Begin a new wave of momentum. Big things going your way are like a tidal wave of positive momentum.
The earlier you start your tax preparation, the sooner you have solid numbers to work with. Then your can tackle the issues and get on with life. Life is too short to waste months fretting about a potential tax bill. Get it done. Deal with the outcome. Then go and enjoy life.
Momentum, my friends. Momentum.
It is important to recognize any success as the possible beginning of a long period of wins. Deep inside we know that the wins are coincidence. We also know we personally have a lot to do with the series of positive outcomes. Once we recognize a win we kick in the after-burners and attempt to leverage our perceived advantage.
Then the inevitable happens. The string is broken. A setback slams us back into our seat. These moments allow us to reflect and learn. The sooner we jump out of the chair and start another string of wins the better.
Too many people allow a bad event to freeze them like a deer in the headlights. Taxes have the ability to destroy a lifetime with inaction. FEAR (False Evidence Appearing Real) keeps some folks locked in their own secluded world. Do not become a victim of your own FEAR.
Gather all your tax materials together. Take them to the accountant or assemble for self-preparation. Begin a new wave of momentum. Big things going your way are like a tidal wave of positive momentum.
The earlier you start your tax preparation, the sooner you have solid numbers to work with. Then your can tackle the issues and get on with life. Life is too short to waste months fretting about a potential tax bill. Get it done. Deal with the outcome. Then go and enjoy life.
Momentum, my friends. Momentum.
Saturday, January 15, 2011
Wisconsin Governor Walker Calls Illinois Businesses and Residents Idiots
Are people from Illinois idiots? I don’t think so. But Wisconsin’s new governor, Scott Walker, thinks so.
It all started a few weeks ago when Walker took office. He made the bold promise of adding 250,000 jobs in his first term. I admire the goal, but am concerned about the delivery. If the goal is not reached it almost guarantees he is a one-term governor.
It gets worse. Before his bold jobs claim he took the one action that would cost Wisconsin thousands of jobs. Governor Walker sent over $800 million to California as a gift. I understand California has greater economic issues than Wisconsin, but jeez. California will now get Wisconsin’s high-speed train. Will the governor include the California jobs created toward his promise?
Not only will Wisconsin lose the jobs building and operating the train, Wisconsin will also lose businesses. Several businesses that needed a better, faster, and more cost efficient transportation hub are now planning their departure from Madison, and to a significantly greater extent, Milwaukee. Governor Walker promised more jobs and all I see are jobs leaving.
Illinois has serious budget problems. To fill the gap, Illinois raised their top income tax bracket 66%. Governor Walker couldn’t contain himself. He brought back an old advertising champagne from years back called “Escape to Wisconsin.” He wanted all the folks from Illinois to know that they can escape to Wisconsin after the big tax increase in Illinois. Problem is Illinois’ top tax bracket went from 3% to 5%; Wisconsin’s top tax bracket is 7.75% and is assessed on lower income than Illinois’ top tax bracket. What Governor Walker wants the folks in Illinois to do is take another 50%+ tax hike over the 66% hike they already suffered. Really?
People in Illinois are not stupid. They know that 5% is less than 7.75%. Why doesn’t Governor Walker know this? Is he stupid? What Governor Walker really did was remind Wisconsin businesses that they can escape high taxes by leaving Wisconsin. Dumb, just dumb.
I know Walker has only been governor for a few weeks and that he did not create Madison’s budget mess. But jeez, Walker, you are not making things better.
I had high hopes our new governor would take the bull by the horns and solve some of Wisconsin’s budget problems. Now, after only two weeks, I would be glad if we just held steady.
It all started a few weeks ago when Walker took office. He made the bold promise of adding 250,000 jobs in his first term. I admire the goal, but am concerned about the delivery. If the goal is not reached it almost guarantees he is a one-term governor.
It gets worse. Before his bold jobs claim he took the one action that would cost Wisconsin thousands of jobs. Governor Walker sent over $800 million to California as a gift. I understand California has greater economic issues than Wisconsin, but jeez. California will now get Wisconsin’s high-speed train. Will the governor include the California jobs created toward his promise?
Not only will Wisconsin lose the jobs building and operating the train, Wisconsin will also lose businesses. Several businesses that needed a better, faster, and more cost efficient transportation hub are now planning their departure from Madison, and to a significantly greater extent, Milwaukee. Governor Walker promised more jobs and all I see are jobs leaving.
Illinois has serious budget problems. To fill the gap, Illinois raised their top income tax bracket 66%. Governor Walker couldn’t contain himself. He brought back an old advertising champagne from years back called “Escape to Wisconsin.” He wanted all the folks from Illinois to know that they can escape to Wisconsin after the big tax increase in Illinois. Problem is Illinois’ top tax bracket went from 3% to 5%; Wisconsin’s top tax bracket is 7.75% and is assessed on lower income than Illinois’ top tax bracket. What Governor Walker wants the folks in Illinois to do is take another 50%+ tax hike over the 66% hike they already suffered. Really?
People in Illinois are not stupid. They know that 5% is less than 7.75%. Why doesn’t Governor Walker know this? Is he stupid? What Governor Walker really did was remind Wisconsin businesses that they can escape high taxes by leaving Wisconsin. Dumb, just dumb.
I know Walker has only been governor for a few weeks and that he did not create Madison’s budget mess. But jeez, Walker, you are not making things better.
I had high hopes our new governor would take the bull by the horns and solve some of Wisconsin’s budget problems. Now, after only two weeks, I would be glad if we just held steady.
Friday, December 31, 2010
Zen Meditation Rituals
Tax season starts early for tax preparers. Catching up on all the new tax laws keeps my crowd busy from October on, sometimes sooner. By December 1st, preparations for the new tax season are in full swing: the new tax program is set up and tested, year-end tax panning extends the work day, and pre-appointments are set and mailed.
January brings the heavy workload of payroll reports and the first tax returns. Stress escalates as the demands on time rises; due dates loom around every corner make for long days at the office. And don't think performing at 95% will cut it. A 95% is an A in college, but a failing grade in the real world. Tax season is twelve weeks of final exams six to seven days a week and you are expected to get a 100% every day, every time.
Over my 27 years in practice I noticed a lot of tax professionals die young. Some live to a ripe old age, but all too many die in their 50s or early 60s. It also seems to me that many tax professionals die in early April when the biggest due date of all presses forward without mercy.
I attribute this unusual demographic to the building stress of tax season and the months spent locked in a room in a chair in front of a computer. If an animal were treated the way many tax professionals treat themselves someone would end up in prison.
The more vocal accountants seem to live longer; tax pros that beat the odds tend to exhibit a crankiness. Another type of tax pro that survives longer than the average is the one that learns to manage their time; no allowing the tail to wag the dog. I use several techniques to keep my sanity year round. Most days I take a walk in the park next to my office. If I have a ten-hour plus day, I take a walk.
Wisconsin can have nasty weather during tax season and a leisurely walk in the park is out of the question. I have a couch in a side room for a power nap, but power naps are difficult when a lot of things occupy the mind. This is where my secret weapon comes in.
Stress is the issue and sleep is not always the answer; reduction of stress is. I use Zen meditation rituals to reduce stress and get away from work for a while. Tax season or not, I use meditation. It relaxes and refreshes. Let me show you how I recharge with Zen meditation in ten to fifteen minutes.
Without any help from the boss (if you are not self employed like me) you can get a deep meditative break right in your office chair. Here is how: Sit up straight. Your back must be straight. Hunched over will not work. Your feet should be flat on the floor. Put one open hand in another and lay hands on lap. Touch thumbs to form an O with your hands. Close your eyes. Focus on your breathing. Count each breath in and out as one, counting to ten breaths.
Racing thoughts want to intrude. Do not push them away. Acknowledge the thought, then set it aside. The breathing and counting are not a contest or a speed race. When you count ten breaths, start counting from one again. Read detailed Zen meditation instructions here.
No matter your job, or even if retired or unemployed, stress is a cancer to a pleasurable life. Take a moment out to relax and experience pleasure.
For the tax professionals that frequent this blog, I know some of your concerns. How can I take a break? I'll lose clients if clients catch me taking a walk in the middle of the day when I should be working?
To these arguments I relate a story from the mid 1990s. While attending a convention in Dallas circa 1996, Nick Murray, author of Serious Money, made it clear for me. He said that no one client is worth your business. The client is NOT always right, especially if the client is asking you to sacrifice your integrity, disengage your family, or put your health at risk. The biggest client you have, Murray related, is not worth suffering over. Life is too short for such foolishness.
Tax pros should take note. Clients want us to work twenty hours a day without a break and do it for a smaller fee. No sane person would subscribe to such stupidity. Over the years a few clients have left because I demanded a short break. Good riddance. My sanity, family, and well-being are more important than another hour of work.
Everyone needs a quiet moment, especially in stressful situations. Practice simple Zen meditation techniques. The other option is to die young.
January brings the heavy workload of payroll reports and the first tax returns. Stress escalates as the demands on time rises; due dates loom around every corner make for long days at the office. And don't think performing at 95% will cut it. A 95% is an A in college, but a failing grade in the real world. Tax season is twelve weeks of final exams six to seven days a week and you are expected to get a 100% every day, every time.
Over my 27 years in practice I noticed a lot of tax professionals die young. Some live to a ripe old age, but all too many die in their 50s or early 60s. It also seems to me that many tax professionals die in early April when the biggest due date of all presses forward without mercy.
I attribute this unusual demographic to the building stress of tax season and the months spent locked in a room in a chair in front of a computer. If an animal were treated the way many tax professionals treat themselves someone would end up in prison.
The more vocal accountants seem to live longer; tax pros that beat the odds tend to exhibit a crankiness. Another type of tax pro that survives longer than the average is the one that learns to manage their time; no allowing the tail to wag the dog. I use several techniques to keep my sanity year round. Most days I take a walk in the park next to my office. If I have a ten-hour plus day, I take a walk.
Wisconsin can have nasty weather during tax season and a leisurely walk in the park is out of the question. I have a couch in a side room for a power nap, but power naps are difficult when a lot of things occupy the mind. This is where my secret weapon comes in.
Stress is the issue and sleep is not always the answer; reduction of stress is. I use Zen meditation rituals to reduce stress and get away from work for a while. Tax season or not, I use meditation. It relaxes and refreshes. Let me show you how I recharge with Zen meditation in ten to fifteen minutes.
Without any help from the boss (if you are not self employed like me) you can get a deep meditative break right in your office chair. Here is how: Sit up straight. Your back must be straight. Hunched over will not work. Your feet should be flat on the floor. Put one open hand in another and lay hands on lap. Touch thumbs to form an O with your hands. Close your eyes. Focus on your breathing. Count each breath in and out as one, counting to ten breaths.
Racing thoughts want to intrude. Do not push them away. Acknowledge the thought, then set it aside. The breathing and counting are not a contest or a speed race. When you count ten breaths, start counting from one again. Read detailed Zen meditation instructions here.
No matter your job, or even if retired or unemployed, stress is a cancer to a pleasurable life. Take a moment out to relax and experience pleasure.
For the tax professionals that frequent this blog, I know some of your concerns. How can I take a break? I'll lose clients if clients catch me taking a walk in the middle of the day when I should be working?
To these arguments I relate a story from the mid 1990s. While attending a convention in Dallas circa 1996, Nick Murray, author of Serious Money, made it clear for me. He said that no one client is worth your business. The client is NOT always right, especially if the client is asking you to sacrifice your integrity, disengage your family, or put your health at risk. The biggest client you have, Murray related, is not worth suffering over. Life is too short for such foolishness.
Tax pros should take note. Clients want us to work twenty hours a day without a break and do it for a smaller fee. No sane person would subscribe to such stupidity. Over the years a few clients have left because I demanded a short break. Good riddance. My sanity, family, and well-being are more important than another hour of work.
Everyone needs a quiet moment, especially in stressful situations. Practice simple Zen meditation techniques. The other option is to die young.
Friday, December 17, 2010
Wisconsin Jobs
Shhhhh! Here that sound? Do you know what it is? It is the sound of Wisconsin jobs getting sucked out of Wisconsin and ending up in Florida and Ohio.
Wisconsin has fared well in this recession compared to the rest of the United States but may do much worse in the ensuing economic expansion. Here is why.
Former Governor Thompson (R) wanted high-speed rail in Wisconsin and started the process to make it reality. Later, Governor Doyle (D) liked the idea and continued efforts to bring high-speed rail to Wisconsin. Since the Democrats decided they like the idea, the Republicans changed their mind; they no longer like the idea.
Governor Walker (R) has sent back the $810 million Washington gave to Wisconsin for high-speed rail. Instead, Walker wants to spend $1 billion of Wisconsin taxpayer's money turning a four-lane highway into a six-lane highway between Madison and the Illinois border. Wisconsin is a high tax state and it is about to get higher.
There are pitfalls to slapping Congress in the face for sending you money. Congress needs to cuts spending and you just volunteered. As a result, Congress just dropped a bill that contained a $5 BILLION contract for Marinette Marine. The contract could still be awarded in another bill later, but for now, the funding and Wisconsin jobs, are on hold.
I hate to say it because I love Wisconsin and the people here, but if you need a job, check out Florida or Ohio. The taxes are lower there and they have job creation right now, courtesy of the federal taxes you paid.
I bet the folks in Florida and Ohio don't even send us a Christmas card.
Wisconsin has fared well in this recession compared to the rest of the United States but may do much worse in the ensuing economic expansion. Here is why.
Former Governor Thompson (R) wanted high-speed rail in Wisconsin and started the process to make it reality. Later, Governor Doyle (D) liked the idea and continued efforts to bring high-speed rail to Wisconsin. Since the Democrats decided they like the idea, the Republicans changed their mind; they no longer like the idea.
Governor Walker (R) has sent back the $810 million Washington gave to Wisconsin for high-speed rail. Instead, Walker wants to spend $1 billion of Wisconsin taxpayer's money turning a four-lane highway into a six-lane highway between Madison and the Illinois border. Wisconsin is a high tax state and it is about to get higher.
There are pitfalls to slapping Congress in the face for sending you money. Congress needs to cuts spending and you just volunteered. As a result, Congress just dropped a bill that contained a $5 BILLION contract for Marinette Marine. The contract could still be awarded in another bill later, but for now, the funding and Wisconsin jobs, are on hold.
I hate to say it because I love Wisconsin and the people here, but if you need a job, check out Florida or Ohio. The taxes are lower there and they have job creation right now, courtesy of the federal taxes you paid.
I bet the folks in Florida and Ohio don't even send us a Christmas card.
Thursday, November 25, 2010
Sunday, November 21, 2010
Brett Favre is the Ultimate Packer Fan
There is no longer a doubt; Brett Favre is still on the Green Bay Packers' payroll. It was sneaky, but what better way could Favre serve his loyal fans in Wisconsin. To make it look legit, Favre takes off for the Jets and when things go too well he has a minor injury that cuts performance. Favre and the coach both end their tenure in New York.
This opens the opportunity, the real reason Favre left Green Bay, to join the Minnesota Vikings. Favre builds up all the hopes and dreams of the folks on his new team only to rip out their soul with a last second interception. No Super Bowl for the purple guys.
Now Brett Favre has cut the soul out of Green Bay's toughest adversary, the Minnesota Vikings. Vikings moral is gone, the team is demoralized, and the coach will be unemployed at season's end. The Vikings had a great team, they just needed a quarterback. Favre's efforts should keep Minnesota a minor opponent for several years.
Thanks, Brett. We knew we could count on you. Your heart is green.
This opens the opportunity, the real reason Favre left Green Bay, to join the Minnesota Vikings. Favre builds up all the hopes and dreams of the folks on his new team only to rip out their soul with a last second interception. No Super Bowl for the purple guys.
Now Brett Favre has cut the soul out of Green Bay's toughest adversary, the Minnesota Vikings. Vikings moral is gone, the team is demoralized, and the coach will be unemployed at season's end. The Vikings had a great team, they just needed a quarterback. Favre's efforts should keep Minnesota a minor opponent for several years.
Thanks, Brett. We knew we could count on you. Your heart is green.
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