Francetic Tax Resolution LLC - October 2019

Take a look at our newsletter this month.

OCTOBER 2019

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GOODBYE, GOLF SEASON

I’ll Miss You Until Next Spring

After spending countless hours nose-to-nose with my computer screen, there’s nothing more revitalizing than stepping out into the fresh air of the golf course. Though the game itself can be frustrating and, at times, cruel and demoralizing, whiling away a few hours of camaraderie out in nature with my older brother Mark and my good friend Mike is something I look forward to every spring. my life. Not only have I enjoyed the game on and off since I was a kid, but I also worked for a while on golf courses in California and here in Racine before earning my degree in turfgrass management. Back then, I polished my game all the time, but when I was driving a truck for a living, I took a break from the green. In the last 10 years, though, I’ve become pretty fanatical again — and I wouldn’t have it any other way. Mark, Mike, and I consider ourselves the three golf amigos, because ever since my brother moved back to Wisconsin in 2012 and I met Mike in 2013, we’ve been golfing together regularly in southeast Wisconsin and northern Illinois and traveling as a trio to farther-flung courses. One of our favorite nearby spots is Shepherd’s Crook, a course just across the Illinois border that’s a 30-minute drive from my house. We like to go there or to one of the courses in Lake Geneva every few weeks, assuming the weather cooperates. We also like to play the local courses: Ives Grove, Petrifying Springs, and Brighton Dale. We are blessed to have a plethora of golf courses in such close proximity! If you read the very first edition of my newsletter, then you already know golf plays a big role in

Now that October is here, golf season is coming to an end, but I’m happy to say I have enough good memories from this year on the green to last me until spring. My favorite of all of them would have to be the whirlwind two-day, four-course trip Mark, Mike, and I took to Island Resort & Casino in Harris, Michigan. The casino owns two golf courses, one right behind the casino and another about 15 minutes away. We left at 2 a.m. on a Thursday for the drive up to the casino so we could make our 8 a.m. tee time (the casino is on Eastern Time), play again that afternoon, and repeat the same scenario on Friday. After we played Sweetgrass — my brother and I played this course once before three years ago — behind the casino, we headed up to Marquette to play Greywalls at the Marquette Golf Club. The course is a short distance from Lake Superior, and the lake was visible in the background of several holes. It was a very challenging and sometimes disheartening course to play! The scenery within the course was awesome, with all the rock formations and the up-and-down layout of the course. We spent the night at the casino, thoroughly exhausted from the early start and 36 holes of golf. We had dinner, passed at gambling, and retired for the evening, looking forward to our 8 a.m. tee time at Sage Run — the other casino course — on Friday. This course was brand new, having been completed in the summer of 2018. It was another challenging course. If you did not hit the ball straight, all kinds of perils awaited you!

The course still has a lot of growing pains to go through and rough edges to smooth out to get it up to the stature of the other three courses. Timberstone in Iron Mountain was our final leg of the journey in the afternoon after surviving the beatdown at Sage Run! This course was carved right out of a hilly forest, so you can imagine shot placement was at a premium here, as well! There were many picturesque holes throughout the course, which you do not often see at golf courses here in southeast Wisconsin because of the flat terrain. The course was extremely crowded, so it took us about 5 1/2 hours to play, which is unacceptable by our normal playing- time standards. If we are the first group off in the morning, we have no problem finishing 18 holes in 2.5 hours. If you, too, are mourning the end of golf season, don’t hesitate to let me know next time you call with a tax problem — we can swap war stories to pass the time until spring! Paul Francetic

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REIGNITE YOUR PASSION

LESSONS IN INNOVATION FROM HENRY FORD

As entrepreneurs scale their businesses, there is a lot to focus on: hiring the right staff, creating the most effective marketing strategies, and setting up efficient operations. With so much to do, it’s easy to lose sight of your initial vision for your company. If you’re stuck in a rut, know that you’re not alone. Plenty of the most successful entrepreneurs have endured the same struggles and, with a little ambition and a lot of creativity, came out on top. Take Henry Ford, for example. Henry Ford made the automobile accessible and appealing for the common citizen. This ignited interest in the market from consumers and manufacturers alike, which led to innovations like air conditioning and other appliances we can’t imagine living without today. There were some key factors that played into his success, and, if you

apply them to your own journey, you could gain a new perspective and be inspired to create and innovate in your industry. CONSUMER-FOCUSED Ford realized cars were unreliable and unaffordable to most and set out to change that. After developing the first moving assembly line, Ford lowered the price of cars and made them accessible for people outside the upper class for the first time. As long as you keep the consumer and their needs in mind, you’ll find ways to make their experience better and increase your success. SMALL CHANGES, BIG IMPACT Unlike many companies today who sacrifice quality for quantity, Ford found ways to focus on both. He looked at how cars were actually made My longtime chiropractor, Dr. Kris Peterson of LP Chiropractic, is fantastic at keeping me in shape for the golf course and working all of the swing-induced kinks out of my back and neck, but he’s also a big fan of Halloween. In fact, every fall he turns his front lawn into one of the largest showpieces in town by filling it with as many as 100 carved pumpkins. Starting in September, Dr. Peterson and his family load up on pumpkins from a nearby farm and bring them home, making a massive pile in the garage. Then, every weekend until Halloween (and even on some weeknights), Dr. Peterson and his friends gather in the garage to carve famous faces into the pumpkins using stencils of movie stars, cartoon characters, and more. They line the finished pumpkins up in the front yard for people driving by to admire, and the display has become so popular over the years that it even has its own Facebook page! If you want to check it out, visit Facebook.com/ PetersonsPumpkinPatch.

and found that, if he could build more cars within a certain time frame, he could pay less per car, per worker. Thus, the moving assembly line was born. When looking for ways to innovate in your industry, rethinking even the smallest, simplest details can make a huge difference for your business. You may not be able to reinvent the wheel, but who said you couldn’t reinvent the brake pads? Henry Ford may have changed the automobile industry forever, but you don’t have to go to such lengths to innovate in your own. The next time you find yourself uninspired or stagnant, look to those who made your industry what it is today. You might just find the inspiration you’ve been searching for. As excellent as Dr. Peterson is at carving pumpkins, he’s even better at adjusting spines. He and his partner at LP Chiropractic, Dr. Troy Ludwig, have helped me out of numerous painful situations over the years. Once, Dr. Ludwig even popped my knee cap back into place after I knocked it off-kilter playing football with my son. The pain was incredible, so I didn’t believe him when he said it would be gone by nightfall. Sure enough, he was right! Just a few hours later, I felt like a brand-new man. I’ve been seeing Dr. Peterson for almost 20 years now, and he’s living proof that chiropractic work is real medical science, not the mumbo jumbo people sometimes dismiss it as. If you’re struggling with back pain, neck pain, arthritis, or another injury, give LP Chiropractic a call at 262- 697-1363. I highly recommend their services!

1 CHIROPRACTOR, 100 PUMPKINS

Dr. Peterson Goes All-Out for Halloween

Paul Francetic

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FTR TAX TIP OF THE MONTH

If you’re self-employed, the IRS and the State of Wisconsin require you to pay estimated taxes four times per year. That means on April 15, June 15, September 15, and January 15, you’re supposed to send in a check equivalent to one-quarter of what you think you’ll owe in taxes for the year. It sounds simple on paper, but in reality, the temptation to spend that cash before the required payment date often gets the better of people. They get a big commission check, say for $10,000, and head out to buy a boat or a motorcycle to celebrate their success. Then before they know it, that estimated payment deadline sneaks up on them and they don’t have the necessary money to send in. I’ve seen that unfortunate pattern all too often, which is why I tell my clients it’s vital to be proactive with their payments. If you’re an entrepreneur, go one step beyond what the IRS and the State of Wisconsin require and pay monthly! When you earn a chunk of income, write a check immediately and send it in. That way, you don’t have a nest egg in the bank growing bigger and bigger, tempting you to spend it. In addition to offering peace of mind, monthly payments will set you up for success if you have tax problems. If you aren’t current on your payments, it is not possible to negotiate an offer in compromise with the IRS for any past outstanding tax debt. Making estimated tax payments for the current year is one of the requirements for having an offer in compromise accepted if you are always underpaid when you file your tax returns. If you have any questions about estimated tax payments or need help negotiating a settlement agreement, give Francetic Tax Resolution a call today at 262-752-6992 to schedule a free consultation. ENTREPRENEURS, BE PROACTIVE WITH YOUR TAX PAYMENTS

LEFTOVER CANDY SNACK MIX

This recipe from Momofuku Milk Bar chef and “Master Chef” judge Christina Tosi makes great use of those extra Halloween goodies. It’s a quick and easy way to both elevate and get rid of unwanted leftovers.

INGREDIENTS

2 cups mini pretzels, coarsely broken

• •

6 tbsp unsalted butter, melted 12 oz mini candy bars, such as Snickers, chopped into 1/2-inch pieces

• • •

1/4 cup light brown sugar 2 tbsp granulated sugar 1/3 cup dry milk powder

DIRECTIONS

1. Heat oven to 275 F. 2. In a large mixing bowl, fold together pretzels, sugars, milk powder, and butter. 3. Spread mixture on a baking sheet lined with parchment paper and bake for 20 minutes. 4. Let cool for at least 30 minutes and mix in candy bar pieces before serving.

Inspired by Food & Wine Magazine

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5429 DEERFIELD ROAD MOUNT PLEASANT, WI 53406-1919

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1 2 Goodbye, Golf Season How Henry Ford Innovated His Industry 1 Chiropractor, 100 Pumpkins FTR Tax Tip of the Month: Entrepreneurs, Be Proactive With Your Tax Payments Leftover Candy Snack Mix International Business Card Etiquette INSIDE 4 3

Listen to Paul Saturday Mornings 7 a.m. on AM channel 1050 WLIP or stream online at www.WLIP.com!

SUCCESSFUL BUSINESS CARD ETIQUETTE IN 3 DIFFERENT COUNTRIES PUT YOUR BEST CARD FORWARD

The business card is a nearly ubiquitous way to give your name, position, company, and contact information to potential clients and business partners all over the world. And while the exchange of business cards in the United States does not come with a lot of pomp and circumstance, that is not the case in many other countries. If you find yourself in one of the following places, remember these tips about exchanging business cards. JAPAN Known in Japan as meishi , the exchange of business cards comes with a lot of ceremony. Present your card with both hands, as this gesture is seen as respectful. Japanese culture places a lot of value on hierarchy and status, so make sure your title is listed prominently. When receiving a card, take a minute to look it over and comment on it. Immediately putting it away is disrespectful, and once you’re done looking at it, put it in a cardholder, folder, or binder. CHINA In China, as in many other countries, having your credentials and contact info in English on one side and in the local language on the other

is good practice. Gold lettering is considered auspicious, and if your business is relatively old, make sure the year it was founded is on your card. The practice of giving and receiving cards is very similar to that of Japan. Finish the exchange with a bow as a way to thank your acquaintance for meeting with you. INDIA Business cards are exchanged even in nonbusiness interactions in India. Much like hierarchy and status are valued in Japan, academic achievements are valued in India, so list your university, degrees, and honors along with your other information. When exchanging cards, always give and receive them with your right hand. This is also common practice in many Middle Eastern countries. Exchanging business cards the wrong way probably won’t be detrimental to your business deal, but learning the proper etiquette in the country you’re visiting can go a long way in starting a professional relationship on the right foot.

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