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September 2023
HANSON HEADLINES
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PROTECT YOUR WALLET! 3 Ways to Save $$ on Your Taxes
When you were little, did you ever think a monster was under your bed or in your closet? Have you ever turned off a light in your home and ran as fast as possible so you could shut your door in just enough time before the monster grabbed you? As you grew older, those childhood fears slowly disappeared. However, there is a “monster” many of us fear that isn’t a figment of our imaginations — it’s the IRS. As you file your taxes, the fear of the IRS coming after you and sending you a letter may creep into the back of your mind. But don’t worry, you don’t need to slay this beast alone; I will be with you through it all. I can ensure the monster isn’t hiding in your mailbox after you file your taxes! Although tax season and the filing process can sometimes be overwhelming, there are some benefits you can use. Taking advantage of tax credits and deductions is one of the best tools to not only correctly file your taxes but also help you keep more hard-earned cash in your wallet.
I wanted to share several tax credits that could benefit you and your family as you prepare for the upcoming filing season. Child and Dependent Care Credits As working parents, balancing your work and family life can be challenging. You could have a lot on your plate trying to juggle your professional demands with your children’s responsibilities, such as homework and extracurricular activities. If you and/or your spouse pay someone to look after and care for your kids so you can work, you could claim a Child and Dependent Care Credit! The maximum credit you can receive is $4,000 for one qualifying child and $8,000 if you have two or more qualifying children. However, there are a few requirements you must fulfill. First, your child must be 13 years old or younger to qualify for the credit. Additionally, you can only receive the credit if you’re paying for work-related child care. These services can include nannies, day care, preschool, and day camps. To claim your credit, please complete Form 2441 and include this form when you file your tax return. Business Travel Expense Deductions In addition to the Child and Dependent Care expenses, you can also receive credit if you travel for your job. You could receive a deduction if you attend a business meeting in another city or town! Some of the expenses you can include in your deductions are airline, train, bus, and taxi tickets; fares; baggage shipping; lodging; meals; dry cleaning; tips for services; and business calls made during your trip. For those who are self-employed, please complete Form 1040 and file it along with your other tax documents.
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Have tax problems? Unsure what to do? Our Free video reveals what you should and should NOT do when you receive the dreaded letter from the IRS. CraigHansonCPATaxResolution.com
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CRACKING THE INFLUENCER CODE Why Small Businesses Shouldn’t Shy Away
Marketing gurus have spoken about the benefits of partnerships with influencers for years, but many small businesses continue to shy away from the practice. Entrepreneurs often feel intimidated by the process or consider it a waste of time. They wrongly assume the benefits are slim to none if they’re not in the beauty or fashion industries. It can be a costly misunderstanding. In truth, influencer marketing is appropriate for virtually every business. The trick is to do it correctly. The world of influencers isn’t very intuitive for beginners, so we’ve answered some of the most common questions small-business marketers have below. What is an influencer? When most people think of influencers, they imagine people whose job is to look attractive, make social media videos, and recommend makeup or diet products. But this group is only a small subset of the greater influencer community. An influencer is any person who has an audience that trusts their opinions and guidance. It’s as simple as that. Authors, public speakers, business leaders, podcasters, and local celebrities are all influencers who can help you reach your target demographic, whether it’s B2B or B2C.
their past, so you want to ensure their brand values align with yours. Further, remember the influencers you work with need not be “famous” in the traditional sense. Local influencers can help local businesses make significant market gains. What will make your partnership a success? A winning influencer campaign involves much more than paying a celebrity to read from a script on Cameo. You want any influencers you partner with to understand and feel invested in your product. They should already be familiar with your field, understand your audience, and feel excited to work on the project with you. As difficult as it is to relinquish control over your marketing campaign, giving influencers some creative license will serve your brand well. They know how to address their audience in a way that garners likes and shares. You should approve the pitch and final product, but treat influencers like the experts they are. Finally, understand what you’re getting yourself into. Influencers all have fee structures, but they can differ considerably. Read their rate cards carefully to calculate your expenses upfront and remember many will negotiate. Further, review legal agreements in detail.
They will specify how, when, and where you can use the content. Getting this piece wrong can
How do you choose the right influencer for your brand? Start by discovering who your audience trusts. You can use marketing software to determine who has your target demographic’s eyes and ears, but you can also ask your existing customers with a survey. Don’t simply choose people whose work you love unless you have reason to believe their audience needs your product or service.
mean not getting the product you thought you paid for.
It will take some research and practice, but influencer marketing could give your business new
credibility and customers. Don’t discount the possibilities — an endorsement from a personality your target market trusts could help your sales soar.
Next, research your chosen influencers carefully. Many will have a controversy in
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your valuable educational content that helps viewers learn something new. Lastly, include a call to action (CTA) to persuade your audience to follow your account and look further into your business. With this formula, you’ll reel a viewer in and encourage them to engage with your business. Craft your caption and hashtags. No business accounts should ignore their captions and hashtags! Leaving your captions blank or not adding hashtags is the same as throwing your social media posts in the garbage. Keep your captions simple and full of hot keywords to catch viewers’ attention. Then, follow the three-by-three hashtag rule to make your video visible to the right audience. Here’s how it works: First, create 1–3 hashtags that describe your intended audience, not you. Are they small- business owners? Single parents? Car fanatics? Whatever your client demographic looks like, add hashtags that match them. Second, create
potential customers. Add those hashtags to the bottom of your post, and over time, you’ll see your engagement boom.
Learn to play the algorithms. Instagram, TikTok, and Facebook are all powered by algorithms that determine how quickly content spreads and who sees it. These algorithms vary across platforms and can change at the drop of a hat! To be successful, you need to research the algorithms on the platforms where you post and follow their “rules.” On Instagram, for example, you’re more likely to show up in users’ Home feeds and Explore pages if you post Instagram Reels (short videos) instead of static images. You’ll lose points for watermarking your Reels or bogging them down with too much text. On TikTok, you should make sure your videos are more than 10 seconds long, shot vertically, and use TikTok’s library of text and visual effects.
another three hashtags that define what you offer. What are your products or services? Finally, use three more hashtags that relate to your business’s “why” or the pain points of your
Now, get out there (aka online) and start creating content that builds your following list! Soon enough, you’ll see that social media isn’t complex. It might be the easiest way to call attention to your business.
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Constantinople Waged War on a Whale THE TRUE LEGEND OF PORPHYRIOS
Heating and Cooling Tax Credits In January of this year, the Inflation Reduction Act, known as the climate bill, became available to homeowners. The bill provides tax credits to households who purchase energy-efficient HVAC equipment. You can buy heat pumps, central A/C units, insulation, skylights, windows, exterior doors, biomass stoves, gas and oil burners, water heaters, and electric panels. Please note that to qualify for this benefit, you must install ENERGY STAR products. Furthermore, this credit is effective for products purchased and installed between Jan. 1, 2023, and Dec. 31, 2032. These are only a few of the many deductions and credits you can take advantage of for the upcoming tax season. Please don’t hesitate to call me with questions or if you want more information on the benefits you’re eligible for.
Social media lit up in spring with news that orcas were attacking boats in Portugal and Spain. Experts can’t agree on why, but it’s not the first time whales have
gone rogue. The Byzantine Empire dealt with a similar
problem in the form of a fearsome whale they named Porphyrios.
Porphyrios struck terror into the hearts of those in Constantinople
during the 6th century; he spent roughly 50 years attacking boats in the area. Then he would disappear for years, but the locals never knew when he would reappear to sink more ships. The whale caused so many problems that Emperor Justinian I prioritized killing him. But even renowned war strategists couldn’t take Porphyrios down. Unfortunately for Porphyrios, he beached himself near the Black Sea, and the Byzantines took advantage and viciously ended his reign. Despite his end, Porphyrios is still the only whale to threaten the Byzantine Empire.
When you’re adequately prepared, the IRS monster doesn’t seem that scary, does it? –Craig Hanson
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905 James Ave. NE • Jamestown, ND 58401 (701) 252-6190 • CraigHansonCPA.com Inside This Edition
Have tax problems? Unsure what to do? Our Free video reveals what you should and should NOT do when you receive the dreaded letter from the IRS. CraigHansonCPATaxResolution.com
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Don’t Miss Out on These Tax Credits!
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Your Untapped Secret Weapon for Growth Byzantine Empire Declared War … On a Whale?
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Revolutionize Your Social Media Reach!
You don’t need to bust trendy dance moves or be a meme machine to earn a following on social media. Countless business owners have shared their secrets about growing their list of followers and bringing their social media accounts to new heights. With these easy-to-implement tips, you can easily increase your social media presence — no pricey ads or ridiculous choreography required. Create educational content. When you share valuable, educational content, viewers will not just hit the like button. They’ll also start following your account to learn more and maybe even check out your business website! Emphasize evergreen content, as you want the video to circulate and not lose its value over time. Show that you have practical, exclusive knowledge, and you’ll see people flock to you. Use original audio. This one may be a shocker: Don’t use trending sounds, songs, or automated voices. Instead, use your own audio that adds How to Use Social Media to Grow Your Business Like Never Before!
value to your content and helps you stand out from countless other content creators. It may seem like a no-brainer to use trending audio to get you on people’s “For You” page, but in the end, original audios are what help you get noticed. All you need is the sound of your own voice! Provide a hook, value, and CTA. Start your video with a hook, anything to keep your audience from immediately scrolling away. It doesn’t have to be crazy; an intriguing fact or statement works fine. Next, share
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