Have to admit, this is not the most exciting topic, but that doesn't mean it isn't important - Sales Tax! It is obviously imperative that you track and make any sales tax payments as required by state law. Luckily, QuickBooks Online takes something that is often complicated and makes it easier. You can set up the system to automatically track your sales tax when you make a sale. The sales tax center has everything you need to handle tax in QuickBooks Online. You can run reports for your sales tax liabilities, record or edit sales tax payments, and see your payment for different time periods.

Instead of manually calculating sales tax, let QuickBooks Online do the work for you. Add a sales tax category to your products and services to accurately calculate how much to tax your customers. The rules on how to tax a product or service can change depending on what you sell and where you sell it. QuickBooks Online keeps track of those tax rules, so you don’t have to. The taxability of a product or service can vary from state to state, and in some cases, city to city. Some specific products and services have special or reduced rates and fees.

We start the week by reviewing a hierarchy of thinking styles presented by psychologist Adam Grant. In his 5-tier pyramid, he reveals the how the vast majority of us process our day to day lives - and, consequently, grow or stagnate. It's simple, really: The best of the all thinkers are able to say, "I might be wrong." They welcome outside voices, opinions, perspectives. They lean on evidence without dismissing emotional impact. In sum, they're learners -- they always want to know more. And that knowing is not just information gathering; it's learning new processes, new systems, entirely new ways of thinking. The best thinkers are not afraid to overturn the proverbial apple cart.

We end the episode discussing a new program that Dan has started using that has made a dramatic impact on his daily work flow. The program is called Shift and it allows the management and compartmentalization of several email accounts into one program. Each account has its own working area complete with calendar, Google Drive if applicable, and browser tabs. The program is not free, but it is extremely useful for anyone who manages multiple email accounts and works in many different areas throughout a given day like Dan does. 

Another jam packed week is in the books. The focus, as always, should be on being effective, not busy. This week we accomplished that goal. We are going to end the week on a lighter note with some truths about life, some brutal and some beautiful. Two contrasting yet complimentary lists that offer some reminders about the way things are. As always, please make sure you are setting aside the time today to review your calendar, task lists, etc. and set yourself up for success heading into the weekend.

Now, about the lists. Some of the truths are truly brutal. For example, we are going to die, as are everyone we love. So start structuring your life in a meaningful way and tell the people you love how you care about them. On the beautiful side, remember that you will fail and more than likely nobody will notice! We all fail so don't beat yourself up about it. Remember, everyone is scared, not just you. All the stuff that holds you back: fear, inertia, complacency? Billions of other people also feel it. There's no shame in fear. Just don't let it rule you. You can't make everyone happy, and if you try, you'll lose yourself.

Your material wealth won't make you a better or happier person. Your obsession with finding happiness is what prevents its attainment. Live in the moment, appreciate what you already have. Investing in yourself isn't selfish. It's the most worthwhile thing you can do. People might not remember your name, but they will certainly remember how you made them feel. Clichés are true, and one of the truest is that you never get a second chance to make a first impression.

Are reviewing your company finances at some point this week a priority? They better be! Sometime each week you should have an appointment to review your company finances. Make it a priority and make it happen just like you would a doctors appointment. Review your accounts payables and receivables, jobs in progress, cash flow, and job profitability reports. It is the foundation of your company. 

The rest of the episode is a bit of a love letter to Apple. Last week they became the first company worth 3 Trillion dollars. Trillion with a T. The ascent to these heights started back in 2007 when the iPhone was announced and launched. It is truly a breakthrough device and revolutionized the way we communicate and interact with the world. Pretty good chance you listen to this podcast on one...

Many of us have goals set for the new year, but why? Why did we set these specific goals? What do they mean to us? Can you visualize yourself achieving it? Can you feel it? Those are the big questions of today's episode. Many of us, Dan included sometimes, start from the outside in when setting our goals. We determine what we want, and then how we are going to achieve it, and sometimes then figure why we want it. Instead, we should be starting from the inside out. Start with the why. Why is this goal important to you? Why did you open this company?

The why of Blue Collar Back Office is to help small businesses. That is the core of why we do what we do. The how is through our bookkeeping and coaching services, and the what is the result of that - loyal and successful clients and a profitable company. If we focused from the outside in we would not be where we are today. If our why was just to make a profit our clients wouldn't be as loyal or successful, we wouldn't be driven to go the lengths we do to service them, and our "product" and sales would suffer. 

As you set personal goals ask yourself the same question. Are these goals really what you want or are they the goals that you think you are supposed to want? It is common for people to set goals based on the expectations of society, their family, friends, etc. You have a much greater chance of achieving goals that align with your why than those that don't. It is easy to give up on a goal that is really somebody else's. Goals should inspire and motivate you. You should be able to visualize yourself achieving it. 

First of all, HAPPY BIRTHDAY EMMA! You are an absolute joy and source of so much happiness in my life. Love you. Next, we jump into our Technical Tuesday topic of the week, and this week it is 1099s. QuickBooks Online gives you the ability to track, send, and file 1099 forms for your independent contractors so you can be prepared with it's time to file with the IRS and stay compliant. 

Sometimes the line between an independent contractor and an employee is fuzzy. It’s important to know the difference in order to comply with IRS tax rules. 1099 workers are also known as self-employed workers or independent contractors. These workers receive a 1099 form to report their income on their tax returns. W-2 workers are also known as employees. Your company employs these workers directly, and they receive regular pay and employee benefits. You’ll use a W-2 tax form to report annual compensation and payroll taxes withheld from their compensation. Every small business owner should understand the differences between these classifications and when to hire a W-2 versus 1099 worker. But the differences aren’t always clear.

There is no magic formula to determine whether a worker is an independent contractor or an employee. But the IRS does offer some guidance. Three categories determine the degree of control you have over a worker.

Some of your answers to the above questions may indicate the worker is an employee. Others may indicate the worker is a 1099 contractor. It’s up to you to consider all the factors, determine the extent of control over the worker, and thoroughly document your final decision.

Another action packed week is upon us! For today's main topic, Dan is sharing some tips on how to be a better boss. It isn't all about the numbers, it is about the individuals. As you create and expand your team, it is important to remain focused on some fairly simple rules to help put the people around you in the best position to be successful. While sales and profit are important, the numbers are the result of how you manage people, not how you manage numbers. The only way to get better numbers (regardless of your measurements scheme) is to improve the performance of the individuals who work for you.

Here is a recap of the rules:

MANAGE individuals, not numbers

ADAPT your style to each person

MEASURE what's truly relevant

ONLY one priority per person

STAY even-tempered

TAKE responsibility for your unsatisfactory performance

SHARE your thoughts and ideas

ASK questions rather than always providing answers

TREAT everyone as equally as possible

DON'T expect more than you're willing to give

EXPLAIN the reasoning behind your decisions

DON'T procrastinate, decide now!

First week of 2022 in the books! Today we cover 2 questions that came up in a conversation earlier this week. The first question is how to deal with an employee that is not meeting expectations, is confrontational with other employees, and does not handle constructive criticism well. Most people see three options. You can fire them, you can get more unfiltered and lash out, or you can keep silent. There is a fourth option that is not always possible, but it may be worth trying - you can attempt to help them change themselves. 

You can't change people, and you can't nag them until they do. People resist being changed. It triggers a defensive and resistant attitude. They see you as a critic instead of an ally. Instead try to build a trust with the employee through understanding. Seek to understand what their issues are. Ask their permission to have a conversation about some of the issues you are experiencing. It might not work, but it is worth the try especially if you feel the employee adds value to your business.

The next question was in regards to taking things off your plate. There is only so much time in the day, and only so many things we are capable of before we burn out. So after listening to a client list all of the plans they wanted to start implementing in 2022, Dan asked a simple question - What are you going to stop doing?

The answer was fantastic. They are going to stop taking control. They like to have their hands in everything and try to shape the outcome of every project that comes across their desk. This behavior, while common, can lead to a lot of problems down the line. Not only does it severely limit the focus and attention you have for high-value projects, but it can cause you to lose good team members along the way. No one likes to be micromanaged. Trust you employees to handle the tasks you hired and trained them to do. 

It might be Dan's favorite day of the entire work year! Not only is it a Thursday where he will get to go over his company finances and cash flow, it is the first Thursday of the year! That means reviewing all of 2021. How did we do compared to our budget? How did we do compared to 2020? As always, please make sure you are setting aside the time each week to review the company financials. It is essential to your success.

We are also excited to announce a new team member here at Blue Collar Collar Back Office! Lisa Addeo is joining us the Director of Client Services and Business Development. Lisa has more than 20 years of contracting and accounting expertise. She will be at the forefront of expanding our business through client relations, community outreach, partnerships, and marketing. Lisa works with our existing clients to identify areas of need and the implementation of best practices.

Today's episode is chock full of tips/rules you can apply to help you achieve what they call "higher emotional intelligence". Want to accomplish your career goals? Focus on 5 instead of 25. Having a hard time getting started on a big project? Make a deal with yourself that you will only work on it for 5 minutes. If after 5 minutes you really want to quit working on it you can, but in the meantime you have "tricked" your brain from thinking something was huge and overwhelming to making it a small and manageable task.

Before you respond to an email or speak up in a meeting, ask yourself the following questions:

Does this need to be said?

Does this need to be said by me?

Does this need to be said by me, now?

How will I feel about this in:

a day?

a week?

a month?

a year?

Plenty more good tips shared throughout the episode.