Having a plan for regular learning and development is essential to maintaining your business, and critical to growing it. You may think that getting the right price from a contractor or pricing your product is at the foundation of keeping your business alive. They are not. Constant development of your knowledge and skills are. It’s this simple: If you are using yesterday’s method for negotiating a discount or last week’s information for pricing your product, where are you? Somewhere in history, and not in the here-and-now.

With twenty-five years in the industry, Bill Warren of Jetz Laundry Systems, Inc. has a base of knowledge that is broad and deep. Even though little could surprise him these days, Bill is still dedicated to learning. Some of the things he does are “Learn about products I represent, gather as much information as I can from the sales representatives for the machines we lease; stay abreast of the latest and greatest on the market. I also survey what my competitors are doing.” In addition, Bill says, “I like to read a lot of the articles that come out in newspapers talking about laundry services and what people think about the laundry business.” Bill’s experience has taught him to value these practices because “It’s more than just putting a washer and dryer into a room. Professional development helps to understand what your client is looking for. Regular education makes finding  the proper application to satisfy your client’s needs and their end user’s needs possible.”

Some people consider professional development “boring.” In their mind, it conjures-up pictures from their school days: sitting in class listening to a lecture or spending hours alone with their nose in a book. Lots of business owners got into business to be around customers. Plenty of them like to mix and mingle, and be social. For those extroverts who get their batteries charged through interaction, there is development by association. Glenn Berman, of R Rentals gets almost all of his ongoing training by reaching out to his peers. When he wants to learn something or stay ahead of the curve on a topic such as legal matters like evictions, Glenn picks up the phone and calls other association members, or attends association meetings. He says, “Because most of us are smaller operations we don’t have the wherewithal to have things like lawyers on a retainer; we have to rely on each other for our knowledge base.”

What should your personal, professional development plan include? Here are some ideas:

• A budget. You are purchasing products and services. Be prepared to make an investment in you and your business.
• Read. You might start with a book a month, and pick up the pace from there. Don’t have time to read, or need some motivation since you don’t enjoy reading? Check out How and Why to Find Time to Read by Mark Harrison. By the way, University Group maintains a free lending-library of real estate related books and published materials. Call and learn more about how to check out these resources.
• Attend presentations. Monthly association meetings are a great start. You can get out, away from your business for a fresh perspective, and learn how other people have succeeded or failed at the same problems that face you. Get ahead by attending special training sessions and seminars, like the Mr. Landlord event held this month. “If you want to be the best Property Professional that you can be you need to attend the upcoming Mr. Landlord convention. Jeffrey Taylor (Mr. Landlord) has over 25 years of landlording experience that we can all learn from. Do yourself a “professional” favor and meet Mr. Landlord April 20, 2010″ says Randy Hughes of Hughes Real Estate.
• Listen to CD’s, podcasts and other recorded material. Instead of having the radio playing mindless chatter while you are working, why not pick up a few tips as you go about your business?
• Converse. Grab the phone or send an e-mail and engage others whom you trust. You’d be surprised what valuable information your fellow professionals are eager to share with you.

“Developing yourself professionally begins with a commitment” says Randy Hughes. “You either commit to be the best you can be in your field or you end up “average.” In this day of lightning communications, social networks and rapid technological advances, “average” is not good enough.

While the tax filing deadline is more than three months away, it always seems to be here before you know it. Here are the Internal Revenue Service’s top 10 tips that will help your tax filing process run smoother than ever this year.

(Continued from Part 1)

6. Consider Direct Deposit. If you elect to have your refund directly deposited into your bank account, you’ll receive it faster than waiting for a paper check. [Electronic filing with DirectDerposit is safe, secure and quite quick to receive your refund - as little as 10 days for the deposit to occur. Direct Draft for balance due on April 15th is equally encouraged and secure, regardless of when the return is electronically filed. Illinois also supports both options and is quicker to deposit than the federal refunds, in spite of the Illinois financial situation. Paper refunds are delayed due to funds.]

7. Visit IRS.gov again and again. The official IRS Web site is a great place to find everything you’ll need to file your tax return: forms, tips, answers to frequently asked questions and updates on tax law changes. [While this web site is a great resource, you'll need to know the jargon to navigate it quickly.]

8. Remember this number: 17.  Check out Publication 17, Your Federal Income Tax on IRS.gov. It’s a comprehensive collection of information for taxpayers highlighting everything you’ll need to know when filing your return. [Copies of Pub 17 are available at the Champaign Public Library - a great new facility and full of resources.]

9. Review! Review! Review! Don’t rush. We all make mistakes when we rush. Mistakes will slow down the processing of your return. Be sure to double-check all the Social Security Numbers and math calculations on your return as these are the most common errors made by taxpayers. [Paid preparers are advised to NEVER finish the return with the taxpayer present, in one visit, but to have the return reviewed prior to being given to the filer or the return electronically filed.]

10. Don’t panic! If you run into a problem, remember the IRS is here to help. Try IRS.gov or call our customer service number at 800-829-1040. ["I'm from the IRS, I'm here to help." - Enrolled Agents, Certified Public Accountants and many local Attorneys are licensed to practice before the IRS and will assist area filers with personal attention and a local presence. Ethical compliance is a mandate and paid preparers are required to sign your prepared return. Ask your preparer for his/her qualifications before you encounter a problem. The new IRS tax preparer regulations do not take effect until later this year, so under penalty of perjury the responsibility of filing an accurate return remains your responsibility, now and thereafter.]

While the tax filing deadline is more than three months away, it always seems to be here before you know it. Here are the Internal Revenue Service’s top 10 tips that will help your tax filing process run smoother than ever this year.

1. Start gathering your records Round up any documents or forms you’ll need when filing your taxes: receipts, canceled checks and other documents that support an item of income or a deduction you’re taking on your return. [Written records to be retained for three years after filing is important.]

2. Be on the lookout W-2s and 1099s will be coming soon from your employer; you’ll need these to file your tax return. [W-2's, 1099's and any IRS reported information needs to be cross checked by matching with those documents to avoid refund delays or subsequent IRS correspondence.]

3. Try e-file When you file electronically, the software will handle the math calculations for you. If you use direct deposit, you will get your refund in about half the time it takes when you file a paper return. E-file is now the way the majority of returns are filed. In fact, last year, 2 out of 3 taxpayers used e-file. [Congress has mandated that 80% of all returns be e-filed by 2012. Paid preparers who submit 10 or more returns are being mandated to e-file as well, by statute nor IRS regulatlion.]

4. Check out Free File If your income is $57,000 or less you may be eligible for free tax preparation software and free electronic filing. The IRS partners with 20 tax software companies to create this free service. Free File is for the cost conscious taxpayer who wants reliable question-and-answer software to help them prepare a return. Visit IRS.gov to learn more. [Many governmental resources are being channeled into enabling free filing. [Many paid preparers are thriving on the free filing process by cleaning up the IRS correspondence directed to self prepared returns - the Code is extensive and at times apparently contradictory. Filers get what they pay for.]

5. Consider other filing options There are many different options for filing your tax return. You can prepare it yourself or go to a tax preparer. You may be eligible for free face-to-face help at an IRS office or volunteer site. Give yourself time to weigh all the different options and find the one that best suits your needs. [Paid preparers are guided to ask many more questions, seek more supporting documents and to facilitate taxpayer compliance while maximizing the refund potential or minimizing a balance due.]

Stay tuned for 5 more tips next month!