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Kiddie Tax: Filing for ‘07 & Changes for ‘08

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Kiddie Tax: Filing for ‘07 & Changes for ‘08 Serving Montgomery, Delaware, Bucks, Chester and Philadelphia Counties April 2008 BusinessBEAT Bankers’ Box State of Israel Bonds . 11 Biz Wiz 9 Keys to Powerful Copy . .3 Anterior Hip Replacements Get Patients Back On Their Feet In Record Time . .12 How To Build A Marketing Machine . 13 Connecting The Brand With The Customer . .13 Managing A Business Move . .14 The CEO Report Card . .15 Business Bonus Lunch Bunch Munch . 6 Business Bookshelf Work Like You’re Showing Off . 24 Charity Angels Fighting For Life And Against Diabetes . 5 Entrepreneurial Edge Spice Up Your Kitchen...No Cooking Required . 8 Catering To The Customer . 9 Location3 Philadelphia Property Opportunities ‘08: Stable Economy or “Doom & Gloom”? . 16 Schuylkill Banks: An Investment in Fun . .17 Anatomy of a Like-Kind Exchange . .18 CREW Newsflash: Philly Is Hot! . .19 Development in Philadelphia . 20 Repairing Credit . .21 The CPA Corner The Truth, Kiddie Tax: Filing For ‘07 & Changes For ‘08 . .9 Compensation Planning to Attract & Retain Key Employees . .10 The Human Factor The Whole Truth... Finessing the Interview . .22 Am I Nuts or What? . 23 By Howard Temple Sell Yourself...Without Triggering Their ‘Salesperson’ Radar’ . .25 “Polygraph”…Mention the word polygraph to most people and they will not know what you mean. Explain that it is The Law and You the technical word for the “lie detector’ and they immedi- The Ghost In The Deal . 6 ately think its prime use is: questioning suspicious charac- ters or criminals. While it is indeed a valuable tool in Law Windows To WallStreet® enforcement, FBI, CIA or military investigations, it has a far The Problem Is Between Your Ears . 7 wider utility in today’s society and economy. Lying is becoming epidemic in this country. Almost a quar- PRESRT STD ter of our college students, and even some at our nation’s honored U.S. POSTAGE military academies, have submitted term papers as their own that they actually copied from the internet. Respected historians have PAID admitted to plagiarizing other scholars’ work, and journalists from VOORHEES, NJ organizations as prestigious as The New York Times have been PERMIT 500 exposed for fabricating news reports. New York’s governor, Eliot Spitzer, was linked to a prostitution ring and could face felony charges. As for Wall Street and Washington, hardly a day goes by without someone being exposed as a liar. How do I really know who I am hiring? Even in large enterprises, human resources departments often outsource this task, but it is expensive and time consuming. What has been your experience in checking references? Has anyone ever given you a negative report? Probably not, because in today’s litigious society no one is going to risk being sued for defamation of character! The sad truth is that (cont. on page 4) 2 Business World Times greetings from Business World Times™ Dear Readers, As we all move into 2008 with our businesses and life goals, BusinessWorldTimes™ is committed to presenting you with quality information to assist you on your business journey. I want to improve on the information that is available to you. The mainstream media primarily paints with the one color of “gloom and doom”. The glass is always presented as half empty. We at BusinessWorldTimes™ are A subsidiary of Corporate Network, Inc. positively focused on the potential for your business. Instead of “doom and gloom”, we want to emphasize the possibilities for Charlotte B. Given growth. Founder & Publisher At one time the journalist considered it his job to objectively report the facts and studiously avoided interpreting those facts – that was [email protected] left for the editorial page. That is no longer true. The journalist’s per- sonal politics are often only too obvious in the print and television Howard Temple news programs today. I challenge you to think critically and do your Feature Author own research; don’t allow the media to tell you what you believe. Charlotte B. Given The recent drumbeat of recession talk is a case in point. John Steele Unemployment is near historic lows, but you wouldn’t know that Publisher from the national news; I am not ignoring the seriousness of some of Real Estate Editor the economic problems facing our country, but we will not grow and prosper with whining and negative thinking. Sean B. Given For this issue, we have chosen many articles highlighting the commercial growth of the greater Marketing Philadelphia area. Philadelphia is the 4th fastest growing city in the United States. There are posi- tive and negative ideas presented about the economy and its influence on the real estate market. Jennifer R. Null Be sure to check out the “1031 Exchange” article and understand the possibilities for protecting Art Director your business from capital gain taxes. If your business is ready to acquire another business to expand or round out your product line, or you want to sell your business, be sure to read Tom Wolpert’s article in The Law and You section. Columnists If you have an idea you want us to explore for you, email me at charlotte@businessworld- Sharon Altman times.com or pose your question for our experts at: [email protected]. Kerry Given, Ph.D. Enjoy this issue of BusinessWorldTimes™ and be sure to check out our advertisers to see how Gail Madison they can be of service to your business. Anna Sachs, CPA, CDFA™ Sincerely, Thomas Wolpert, Esq. Contributers Jackie Borski Marc Brownstein Frank Felsburg BizWiz Lyn Fisher Chris Freind Tom Grau 9 Keys To Powerful Copy David M. Gorenberg, Esq. by Michael Ladenson bragging: “physician-owned and operated”… “forty- Dava Guerin five years of experience in the watch industry”… “our Frank Haarlander Writing good copy to advertise your product or productions have won sixteen Barrymore awards and service is no big deal. Visuals and mailing lists are been acclaimed in such national publications as the Kristina C.S. Harshany much more important. Don’t waste money or time on New York Times and Wall Street Journal.” Michael Ladenson something that practically anybody can do. • Cut to the bone – If there’s a single word or sen- Mike Lieberman Believe that? If so, I have some real estate you tence or paragraph you can cut, do it. (Keep a special Steve Martino might be interested in. scissors in your toolbox for adjectives.) The shorter In fact, communicating what you do is one of the any piece of writing is, the better. Bruce P. Murray most important challenges you face in business. • Power your words – Always look for ways to kick Wade Roberts Without getting too pretentious, what is your business’ your words up in power, especially verbs. Don’t just Debra Smith soul? What are you offering to the world? If you make change something, transform it. Don’t fit that watch to watches, why should I actually buy and wear one? my wrist, customize it. And weed out forms of the Copyright BusinessWorldTimes™ 2008. What about this timepiece makes it irreplaceable on verb “to be”: is, was, are, etc. These are the least pow- All rights reserved. Reproduction or use without my wrist? erful verbs you can use. Instead, look for action verbs: permission of editorial or graphic contents in any That’s what your words must convey. create, enable, achieve, manage, educate. Find power manner is prohibited. Corporate Network, Inc. Writing copy is really telling a story, as much as adjectives (the only kind worth including): “hands-on” 3015 E. New York St., STE A2-365 writing a movie, play or novel. You’re telling your management, “white-glove” service. Avoid the past Aurora, IL 60504-5162 company’s story, and just as in those other media, you tense where possible; describe what you’re going to 630-820-3926. Fax: 630-820-3959. have to keep your audience in your grip while you do for your customer’s future. The idea: to show your Subscriptions: $24.00/yr. • $40.00/2 yrs. build to the desired effect. Here are some key ways to buyer the kind of energy and ambition you’ll bring to do that: the project. Business World Times™ is printed by: • Clarify – A good story clearly identifies the char- Now, every type of writing has its specific rules. Contact info: acters and makes it easy to follow them. Make sure The next three keys apply to advertising copy in any 2 Executive Drive, Voorhees, NJ 08043 Phone: 856-566-1270 • Fax: 856-566-0110 you lay the groundwork: who you are, what you do, medium: E-mail: [email protected] and why we should care. Never let a reader finish your • Always feature a unique selling proposition (USP). Website: www.aflwebprinting.com piece without knowing those things. “M-and-m’s melt in your mouth, not in your hand.” Unparalleled quality & service, coupled with a competitive price • Personalize – Your company is never “it” or That’s why you should buy our candy – it’s something has been our creed for over 30 years. “they.” It’s always “we.” People like to work with a no one else can say. group of warm brains and bodies, like themselves… • Always include a compelling offer. “Call now and not a faceless organization. (I love the chance to receive our free booklet on watch care.” “Subscribe include interesting personal stuff about the principals now and get one production free.” “Buy online and in any company I’m writing about. receive a 20% internet discount.” • Activate – Never say, “our watches are made to • Always end with a call to action. You want your exact specifications.” Who makes them that way, the customers to call or click or drop something in the watch fairy? It’s too passive.
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