June 2010

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The Senate's side of the Capitol Building in DC.
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There are two bills of potential interest to you that may be voted on by tomorrow.

The Homebuyers Assistance and Improvement Act of 2010 would extend the first time home buyer’s credit to September 30, 2010.  That is, you still have to have signed a contract to purchase a home by April 30, 2010, but this new bill would allow you until September 30, 2010 to move in (extended from the current deadline of June 30, 2010).

and,

The Restoration of Emergency Unemployment Compensation Act is a bill that rose out of the Senate’s inability to pass the previous American Jobs and Closing Tax Loopholes Act of 2010.  The previous bill was set to extend around 50 expiring credits (which is good), but it had some terrible provisions for small business included in the bill (which is bad).  This current restoration bill would extend expiring unemployment benefits for an estimated 1.7 million individuals through November.

Thanks, Jason M. Blumer

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U.S. Department of Homeland Security Official ...
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Guess what day Thursday, July 1st is?  It’s the lucky day when SC Employers (with an employee count of under 100) have to begin using E-Verify to verify the legality of all of their workers in South Carolina.

Actually, you’ve got one of two options:

1.  Either use the Department of Homeland Security’s E-Verify system to verify the legality of the new worker, or

2.  Check to see if they have a valid SC driver’s license (or one of 26 other states with similar qualification requirements for a driver’s license – see the most current list here)

Get started here and go through a checklist to see which option is best for you.  Have fun!

Thanks, Jason M. Blumer

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Hot dern, we want to shout it from the rooftops!

We made it into the Top 100 Accounting Advice Blogs – check it (See # 41)!

Thanks for the mention!

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1.  We don’t need to see each other anymore to officially sign documents with Adobe’s new eSignature product – GoSee

2.  HP just released a new line of ePrinters.  Printer without a printer. Huh? – GoSee

3.  Google Cloud Print is coming where print jobs are actually sent to Google and routed to the right user’s printer (no drivers needed!) – GoSee

Thanks, Jason M. Blumer

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Steve Jobs Presentation 2
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I loved the comment on our Monday Morning Message this week.  Here it is again:

“Innovation comes from saying no to 1,000 things to make sure we don’t get on the wrong track or try to do too much. We’re always thinking about new markets we could enter, but it’s only by saying no that you can concentrate on the things that are really important.”  Steve Jobs

Like Steve Jobs, I have so many ideas that I start to be annoying to the people around me.  A lack of ideas is not my problem – my struggle is to be wise and mature enough to say NO to the bad ideas that are bad (which is most of them).

Here are some things I know about my “innovative” ideas:

1.  Most of my ideas are bad.  And so are yours.  I may think mine are good, but that is because I am surrounded by people that care about me, and often agree.  But most of my ideas stink.  Yours do too.

2.  My ideas need incubating.  Time is the great equalizer for the entrepreneur.  Let your ideas roll around in your head at least a few months before taking them to other individuals to vet…

3.  I need to vet my ideas.  I HAVE to run my ideas by other people.  People that will tell me the truth.

4.  I have to be willing to listen to feedback about my ideas from other people.  Don’t even vet your ideas with others unless you are willing to listen, adapt and change.

5.  New ideas are rare.  Most everything has been thought of already.  It’s just true.

6.  New ideas exist in the context of innovative people.  Get around big thinkers.  They tend to pull the ideas out of you.  Though new ideas are rare, they do still exist.  The right context will make them more obvious.

7.  Saying “No” to bad ideas keeps you focused on the good ideas.  Steve Jobs says it best above.

So we have the hope of being innovative like Steve Jobs.  It just takes, wisdom, time, vetting, listening, and we have to be around the right people.

Go find someone smarter than you, and take them to coffee.

Thanks, Jason M. Blumer

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I’m often asked about the timeline of when the huge provisions in the recent healthcare bill will take place.

Download the visual below by simply clicking on it to get a better feel of when the provisions (you didn’t know were in the health care bill) will take place (courtesy of the Common Wealth Fund):

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Image representing Steve Jobs as depicted in C...
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“Innovation comes from saying no to 1,000 things to make sure we don’t get on the wrong track or try to do too much. We’re always thinking about new markets we could enter, but it’s only by saying no that you can concentrate on the things that are really important.”

Steve Jobs

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Read the article here.

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Spending on U.S. healthcare as a percentage of...
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I started writing some posts last week on tax provisions “you didn’t know were in the recent healthcare bill” because I keep learning new things about this huge bill!

To fund this new law, beginning January 1, 2013, you will have to begin paying 3.8% in Medicare taxes on any net investment income.  Usually reserved for taxes on wages that you receive from your employer, this Medicare tax, or hospital tax as it is sometimes called, will kick in for married folks with an income above $250,000 ($200,000 for single taxpayers).

What is net investment income?

It includes rental income, gains on the sale of investment property, interest and dividends and royalties.  Yikes.  And if the low Bush capital gains rates are allowed to rise in 2011 (because a tax provision is about to sunset on Dec 31, 2010), then capital gains rates could see an increase unmatched since 1997.

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"Thomas Alva Edison, three-quarter length...

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“Opportunity is missed by most people because it is dressed in overalls and looks like work.”

Thomas A Edison

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