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Great news on the retirement front! According to Fidelity Investments, managers of retirement savings plans for over 11.2 million workers, this quarter brought an increase in the amount of money people put into their 401(k) accounts for the first time in a year!

Workers raising the amount they placed into funds actually outnumbered those reducing contributions. This is a huge step in our economic recovery, and emphasizes the importance of maintaining equities. The average account balance rose 13.5 percent, which Fidelity attributes to both the rally on Wall Street and higher worker and employer contributions. It just goes to show that maintaining a long-term outlook will reward you in the end!

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I recently came across this article by Annie Fisher from Fortune Online and wanted to share it with you. It raises the importance of staying positive, as it can be the best defense against career stagnation, especially during these hard economic times.

According to Shawn Anchor, head of Aspirant, a consulting firm that advises Fortune 500 clients on how to keep morale and productivity up in these difficult times, a simple and positive attitude is key in remaining resilient, energetic, and influential in order to thrive and succeed through any situation. Anchor has spent many years researching “positive psychology” and he lists key mantras we can all learn a little from in order to remain happy. Below are some of his suggestions:

It is important to keep a gratitude list of things you are grateful for and always look for the good.

Even while working, everyone deserves to have a little fun so go on and forward that YouTube video! Bursts of humor actually induce clarity and creativity.

Decorate your office with things that lead to positive thoughts.

If you find yourself worrying about something, take a few minutes to write down how you’re feeling. Putting thoughts on paper usually decreases the magnitude of the situation.

Keep your friends and family close – relationships are the greatest predictor of success during stressful times, and are also one of the biggest contributors to happiness.

What do you think? What are some of the methods you use to stay positive at work?

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Midlife crises can be expensive. A Porsche? A girlfriend?

Move over Gates and Jobs! This spirit-lifting article from CNNMoney.com just goes to show that anybody can accomplish the American Dream!

You don’t have to be some whiz kid to accomplish the success of the American entrepreneur. According to a new study by the Kauffman Foundation, that stereotypical image of entrepreneurship is a complete myth. Typical founders are middle-aged when launching their first company. Seventy percent of first-time founders are married, and nearly 60 percent have a least one kid! You don’t have to be rich or a college graduate either. Over half the entrepreneurs studied came from blue-collar families and didn’t hold advanced degrees.

The common held belief that entrepreneurs are young, genius college kids is wrong; middle age really spurs on the entrepreneurial spirit! So, if you think it’s too late for your great idea, think again! There’s hope for all of us and now may be just be the perfect time to embrace it.

We’d love to add you to our list, where we send out bookkeeping and tax saving ideas as well as good business building practices. Just click here to sign up today.

I promised to keep you updated through the Cash for Clunkers chaos and now – the least surprising end to the story – the program is kaput!

On Monday, August 24, the government ended the popular Cash For Clunkers program because it has already run out of its second round of funding. In order for dealerships to be reimbursed, they had until 8 pm EST on Monday to submit the 13-page application for any rebates processed. This deadline can only mean one thing, swarms of people headed to showrooms over the weekend.

The program did succeed in bringing a surge in demand for cars, but many dealers are actually happy with the end of such a confusing program, which took too long to process reimbursements.

As of August 20, the Transportation Department had repaid only seven percent of the money dealers had requested. With the program at an end, the government will add on to the size of the work force assigned to handle reimbursement applications.

Even with the extra $2 billion added on to the program, it took almost no time for funding to deplete again, and the government does not plan to add on a third installment. Some dealers could end up having to write off the unpaid credits if funding is exhausted before all reimbursements are made. So, hopefully, if you are in the market for a new car, you headed on over to a car dealership this past weekend!

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The market may go lower and this may be a great time to rent with interest rates starting to climb, but according to this information, it may be time for you to buy a home!

In my previous blog post on May 27, 2009, I told you why this year could be a great one to buy a home thanks to The American Recovery and Reinvestment Act of 2009 and an increase in home buyer credit. But, a new report from IHS Global Insight says that the average U.S. home is now undervalued by 12.2 percent, which makes it even a more opportune times for buying!

Cities once considered “bubble markets” now contain houses priced well below normal — undervalued between 30 and 40 percent.

The most undervalued area in the country is Vero Beach, Florida, undervalued by 42.5 percent! Other cities with home prices below expected include Las Vegas, NV, Cape Coral, FL, Houston, TX, and Vallejo, CA. As for NYC, the median home price is still just about right (same goes for LA and Chicago).

So if you’re looking for affordability and availability, this may be the time for you! For a list of the 10 most undervalued cities or more information on House Prices in America, check out IHS Global Insight.

We’d love to add you to our list, where we send out bookkeeping and tax saving ideas as well as good business building practices. Just click here to sign up today.

Cash has always been king – long live the king! Use cash and then reimburse yourself, you’ll spend less and have better record keeping.

No More Company Lunches for You, Mr. Small Business Owner!

Thinking about taking your clients out for a business lunch or hiring some new employees? Are you ready to expand your small business? Well, because of the new crackdown on credit limits, if you’re a small business owner – think again.

According to the National Small Business Association, 59 percent of America’s small businesses rely on credit cards for daily operations. This number is almost triple what it was just 15 years ago! Over the past six months, credit limits were cut abruptly (some for credit delinquents, of course, but some just for the average small business owner) and now — forget about expanding — business owners have to find other means to just stay afloat!

Over the past few years, there was a push for small business toward credit cards — good deals, great marketing, no interest, fabulous rewards — and now, many are stuck. With the onslaught of surprise limits, many proprietors are reverting back to the old school methods of running a business: cash. Who knows? Maybe a little taste of traditional business is exactly what we need. As with most things, only time will tell.

For a positive perspective on the reduction of credit lines for small businesses, check out Is the Credit Card Squeeze a Blessing in Disguise?, in which Jay Goltz, small business owner and contributor to The New York Times, on his “You’re the Boss” blog, explains that cutting credit for small businesses may not be the worst idea. He recommends against carrying a balance no matter the scenario, and gives some suggestions on how to avoid such a situation. Definitely worth checking out!

ARRA Benefits: Act Now!

Have you been taking advantage of the benefits made available from the American Recovery and Reinvestment Act (ARRA) (link: American Recovery and Reinvestment Act)? As a taxpayer, the IRS wants to remind you that while many incentives come from this piece of legislation, most come with expiration dates, so, it is important to act as soon as possible!

Amongst many other benefits, the American Recovery and Reinvest Act provides incentives for first-time homebuyers, new car purchases, more efficient energy, and college tuition. As a reminder, the First-Time Homebuyer Credit allows you to get up to $8,000 in tax returns on a new home if you haven’t owned one within the past three years (AND if you buy one before December 1, 2009).

You can get credit for up to 30 percent of the cost of making energy-efficient improvements on your home, and as part of the American Opportunity Credit, tuition, related fees, books, and other materials for college can be covered up to $2,500 per student!

There are plenty of other credits and incentives to take advantage of as well, but it has to happen this year! For more on the Recovery provisions that may apply to individual taxpayers see the ARRA page of the Internal Revenue Service website.

Marketing is the fuel that powers your business. I come across to many businesses that are not using the internet to their advantage. Even if you own a retail store, also known as brick and mortar, you can increase sales exponentially by creating a website that sells your merchandise. It can be done quickly, cost effectively, and make money for you almost instantaneously. What are you waiting for?

A recent article from CNN Money discussed how important it is for small businesses to adjust to new media by creating websites and online marketing strategies. In the article, web marketing and search engine optimization specialists give tips on how to lure local traffic to your website. As a true believer in the power of new media, I would like to share some of those tips with you.

There are three key elements in a website: design, content, and search-engine ranking. With content it is important to think about the top three things a client would want to see on your business’s site. Highlight exactly what you do and build on the concept in order to give visitors information on what you provide to your clients. You should provide articles and free information to prove that you are an expert in your field. Can your business handle this customer’s specific situation? Your website’s content should answer that question! Keep it fresh and update continuously. You want to remain timely, relevant, and credible.

Expanding your content increases search engine optimization. The more articles and links your website contains, the more keywords a search engine will find and the higher your site ranks! Typically, sites with more articles, statistics, stories, etc., are visited more frequently because clients want the personal and informative experience. Make sure your website is organized with sidebars and sitemaps and fix any broken links! Carelessness comes across to potential clients and affects search engine optimization. Also, establishing your business on other locally focused sites like citysearch and yelp can help.

Don’t forget that increasing your website’s ranking and user traffic is not the only thing that matters— you need a professional, neat, and inviting website in order to get the clients! It is especially important for the homepage to be attractive so that potential clients want to stick around and continue to learn more about your business! Keep the hierarchy of information on your website extremely organized and make sure the layout on each subpage is consistent and eye-catching. In addition, make it easy for clients to get started with you by advertising a marketing deal right on the contact page.

In the new age of technology and social media, there are plenty of ways to increase marketing and visibility on the web ‑ it’s just a matter of getting started and doing it right! So take advantage of the tools out there and give it a shot. Don’t be afraid to ask a professional for some help, and check out Luring Local Traffic to your Web Site for even more suggestions!

“To ensure the American consumer’s access.” So says Christine Varney, Assistant Attorney General of the Justice Department’s Antitrust Division, regarding the government’s aggressive policy in pursuing monopoly and antitrust companies.

The Department of Justice has already announced investigations into dominant companies such as Google and Verizon, and it could have major effects on you as consumers. While it could increase competition by lowering prices, there is some cause for concern about the timing. Targeting big companies during a recession deters innovation and limits consumer choice, slowing down economic rebound. It is important to realize the greater situation of timing and not just focus on a political party goal when it comes to issues such as antitrust that have direct effect on our economy. What are your thoughts?

Hi everyone, I’m hoping this article finds you all well. Many clients like to hide all of their “Confidential Information”. Sometimes, it’s not always the best play. Especially when things are not going well, and you are in year two of a three year lease on a brand new BMW, because that’s what your employees see. Perhaps opening up your books is not a bad thing, read on Grasshopper…….

Open up those books and share information with your employees! It could be the saving grace for your company. While tendency is for most CEOs to keep the inner workings of their company hidden from employees, open book management is actually proven to lower costs and boost profits. Especially during times of economic downturn, an increase in such transparency and accountability could be exactly what your company needs!

According to Jack Stack, CEO of Springfield Manufacturing and pioneer of the open book management technique, over 10,000 companies practice some form of the philosophy. Stack’s open book management technique sprung from a turnaround strategy that took his company from bankruptcy to profitability.

Open book management creates a culture where employees want to be involved in decision making so that everyone is held accountable. So give up some control and accept transparency — empower workers to feel that they can do something and that they have a say. Training employees to understand key financial measures increases company efficiency and can even save a company in distress!

For more information on open book management and how to create a culture of employee involvement, check out Great Game of Business, Stack’s conference and consulting group spreading the philosophy.