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NortonAccountingServices.com 985-640-6072 Info@NortonAccountingServices.com JANUARY 2023 NORTON NEWSLETTER EASE OF MIND • AVAILABILITY • FLEXIBILITY • INDIVIDUAL APPROACH • EXPERIENCE • TAX SAVINGS OPPORTUNITIES THE REAL ESTATE TAX PRO ™
Here’s something that you should be aware of for tax season. Many people will receive a new tax form, Form 1099-K. These forms are typically issued by credit card processing companies to businesses reporting funds collected via credit cards. This year the IRS is requiring the cash transfer services, like Venmo, Zelle, Cash App and PayPal to issue them as well. The problem is that the IRS treats this information as business income and expects you to report it on your tax return. That’s ok if you’re using it for business. However, if you have been transferring cash to friends for personal reasons, like reimbursements for meals, then you may receive one of these forms and the IRS will expect you to pay tax on it. The IRS acknowledged that the non-business receipts will not be taxable. They also said that it was the responsibility of the recipient to contact the issuer to make corrections for personal receipts. So, if you receive a Form 1099-K this year, make sure you review it to confirm it does not include any personal reimbursements. FROM THE DESK OF Bob Norton
Delegate More, Micromanage Less Strategies to Stop Doing It All
Nobody can do it all on their own, and our ability to delegate tasks is essential to long-term success as business owners. When we bog ourselves down with routine tasks, it takes us away from the bigger picture, halts our growth, and prevents the business from being all it can be. But that doesn’t stop many of us from trying to be the exception who gets it all done themselves. I’ve struggled with letting go of control, just like others, but I’ve also learned that leaning on my team is essential to a successful future. If you haven’t yet learned to loosen your grip on the reins — or if you’re micromanaging everything you delegate — 2023 is the year to cultivate a better way of doing things. Here are some of the most valuable strategies I’ve learned over the years. Build trust. Let’s face it — we tend to complete things ourselves when we don’t believe anyone else can do them correctly. You need to change that perception if you ever want to delegate successfully. Presumably, you hired your employees for a reason. Get to know them and build rapport so you feel comfortable leaving more tasks in their hands. And remember that your way of doing things isn’t the only way; “different” isn’t the same as “wrong.” Share your vision. When teaching others, we often become so focused on conveying how that we forget to share why . Everyone makes thousands of small decisions daily, and we’re all busy. So, your employee is likelier to skip a step in your process if they don’t understand why it’s crucial. Explain why you take specific actions and what makes them essential. And just as importantly, share your overall vision for
Check with your app about making corrections to your data to avoid having to pay unnecessary tax.
–Bob Norton
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... continued from Cover your business. What do you want to accomplish? Where is the company headed? These details will help empower your staff to make better decisions. Play to your team’s strengths. No one is good at everything. For example, some people struggle with numbers but connect easily with people. Know where each team member excels and
where they tend to fall short, and delegate tasks appropriately. Not taking each person’s unique set of skills into account sets them up to fail — and it sets you up to shut down and start micromanaging again. Provide constructive feedback. No one is going to complete every task perfectly the first time around. Learning new jobs and skills takes time. Give your workers some grace while they’re still getting the hang of things, and let them know what they’re doing well and where they need to improve. It’s the only way the situation will get better. But just as crucially, be open to feedback yourself. The people you delegate tasks to may have suggestions to make the process better or more efficient. That’s not a mark against you — it’s a win for the entire company. Once you give up a little bit of control to your team, you might be surprised to find they’re happier, too. Most people want to be trusted, recognized for their skills, and make a substantial contribution. (And everyone hates being micromanaged.) Empowered employees are usually better employees. It’s up to us as business leaders to create an environment where they can thrive.
In Recognition of J.R.R. Tolkien Day Explore the World of Middle-Earth
On Jan. 3, we recognize J.R.R. Tolkien Day in honor of one of the most prolific storytellers and world builders of the past century. Tolkien is responsible for creating the world of Middle-earth, which most people are familiar with thanks to “The Lord of the Rings” books and movies. The talented author has inspired many individuals with his work, including “Game of Thrones” author George R.R. Martin and even Led Zeppelin. If you’re a fan of “The Lord of the Rings” or anything hobbit- related, you might want to take advantage of J.R.R. Tolkien Day. Here are a few ways to get your Middle-earth fix in early January. Read Tolkien’s books. The books are where Middle-earth first came to life. With “The Hobbit,” “The Lord of the Rings,” and “The Silmarillion,” there’s no shortage of Middle-earth stories to consume. These books are written elegantly and contain much more detail than Peter Jackson’s film adaptations. These books are lengthy, especially if you’re planning to read the entire “The Lord of the Rings” trilogy, so make sure you have ample time to read. Watch shows and films inspired by Tolkien’s work. Peter Jackson’s collection of “The Lord of the Rings” and “The Hobbit” movies are fantastic adaptations of Tolkien’s original work and are always worth a rewatch when J.R.R. Tolkien Day
rolls around. You can also watch Amazon Prime’s new “The Rings of Power” show that dives deeper into the lore of Tolkien’s expansive world. If you’re looking to learn more about the man himself, try watching the 2019 British-American biographical drama film, “Tolkien.” Play video games that take place in Middle-earth. If you’re into video games and Tolkien’s work, you’re in luck! “Middle-earth: Shadow of Mordor” and “Middle-earth: Shadow of War” are both well-received games that are highly beloved by fans of Tolkien’s work and gamers who enjoy stealthy action games. Over the past few years, a game that allows you to play as Gollum called “The Lord of the Rings: Gollum” has been in development and will surely bring joy to fans everywhere when it is released.
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Before Alarm Clocks, Knocker-Ups Helped People
How These Early Morning Heroes Roused the Sleeping
Until the 1940s, alarm clocks were a luxury few people in the English working class could afford. Unfortunately, some of these devices could be unreliable and caused people to miss appointments or oversleep. This ultimately gave birth to “knocker-ups,” the human alarm clocks people hired to wake them up Being a knocker-up became popular during the Industrial Revolution, especially in cities where technical innovation boomed, and many citizens were due at factory jobs before the sun came up. In some towns, residents set slate boards against their outside walls to write their weekly work schedule; this way, any knocker-up would know when to wake them. These boards became so common that people referred to them as “knocky-up boards” or “wake-up slates.” Knocker-ups were paid a few pence each week to wake their clients before work, and each knocker-up generally had a route full of clients to wake at different times. The thing is, they didn’t just stand at the door and knock. Knocker-ups became famous for using poles to tap on clients’ second-story bedroom windows. Some even attached soft hammers or rattles to the ends of the rods to create a more startling sound when they tapped.
Typically, this job was taken on by older men who were past their working age or women who needed income to support their families. Police officers also considered this a good side job to earn extra money. Many of them simply completed their morning patrol, then stopped by to wake clients living along their regular routes. However, the most famous knocker-up, and allegedly the last to exist, is Mrs. Molly Moore. Her mother was a knocker-up, and Molly continued her legacy after she passed. This mother-daughter duo became known for their unique knocking methods; instead of long poles, the two used a rubber tube as a make-shift pea shooter and pelted clients’ windows with dried peas.
Whatever the method, a knocker-up wouldn’t leave until their client came out the door and headed on their way to work. While history may have long forgotten about these early-morning heroes, their reliability and commitment are what ultimately allowed thousands of employees to make it to work on time. Air Fryer Roasted Salmon With Sautéed
Take a Break!
Balsamic Spinach Inspired by TasteOfHome.com
Ingredients
• 3 tsp olive oil, divided • 4 salmon fillets (6 oz each) • 1 1/2 tsp reduced-sodium seafood seasoning • 1/4 tsp pepper • 1 garlic clove, sliced
• Dash of crushed red pepper flakes • 10 cups fresh baby spinach (about 10 oz) • 6 small tomatoes, cut into 1/2-inch pieces • 1/2 cup balsamic vinegar
Directions
1. Preheat air fryer to 450 F. Rub 1 tsp oil over both sides of salmon, then sprinkle with seafood seasoning and pepper. In a greased air fryer basket, place salmon. 2. Cook about 10–12 minutes until fish flakes easily. 3. In a 6-qt stockpot, place remaining oil, garlic, and pepper flakes. Heat over medium-low heat for 3-4 minutes. Increase heat to medium-high. Add spinach and cook until wilted. Stir in tomatoes; heat through. 4. In a small saucepan, bring vinegar to a boil. Cook until vinegar is reduced by half, then remove from heat. 5. Arrange spinach on serving dish. Place salmon over spinach mixture and drizzle with balsamic glaze.
Cocoa Fleece Frost Gloves
Hibernation Igloo Layers Penguin
Scarf Sledding Tradition Wonderland
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INSIDE THIS ISSUE From the Desk of Bob Norton PAGE 1 The New Year’s Resolution Every Business Owner Needs PAGE 1 Explore the Lore of Middle-Earth PAGE 2 All About Knocker-Ups: England’s Human larm Clocks PAGE 3 Take a Break PAGE 3 Air Fryer Roasted Salmon With Sautéed Balsamic Spinach PAGE 3 The Furry Saviors of Bangladesh PAGE 4
The Furry Friends of the Fishing Industry How Bangladeshis Use Otters to Harness Their Catch
If you wander down a riverbank in southwest Bangladesh, you might happen upon a squealing, squeaking crate of river otters. The otters aren’t in danger. In fact, they’re the pampered helpers of the region’s fishermen and women, who’ve trained them to herd fish. Yes, that’s right — just as we use herding dogs to corral sheep and cows into pens, people who fish in Bangladesh use otters to drive fish, crabs, and prawns into their nets. The practice dates back hundreds of years — and it’s impressive to watch. First, in the dead of night, the Bangladeshi anglers load crates of otters onto their boats and head out to fish. Each otter wears a small rope harness and leash attached to a wooden pole. As soon as the boat reaches the fishing area, the fishermen release the otters. They dive into the water and paddle furiously after schools of fish, encouraging them to swim into their owners’ nets. According to the publication Roads & Kingdoms, Bangladeshi fishers can catch more than 20 pounds of fish per excursion thanks to their otter helpers. Locals breed otters specifically for this purpose, raising them just like Westerners raise dogs and cats.
This otter-human partnership is an important part of Bangladeshi culture. The fish the otters bring in sustain their owners through lean times and help them survive periods of famine. However, according to the BBC, the tradition is slowly fading away. Rivers in the region are drying up, pollution is surging, native fish are disappearing, and families are getting out of the otter business.
One third-generation fisherman told Roads & Kingdoms that as of 2015, only 12 families in Gopra Village, where he lives, continue to fish with otters. That’s a tiny fraction of the 100 families that fished when his father ran their family business. However, he told the reporter he “will continue to work with otters as long as there are fish to catch.” To learn more about this fascinating human-animal partnership and see a video of the otters in action, head to YouTube and search “Bangladesh otter fishing.”
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