ADAPT AND ENHANCE
PUTTING YOU IN CONTROL
Did you know you can track your tax refund?
If you already filed your tax return and are waiting for a
refund, and you filed electronically, the IRS is trying to process return withing 21 days. For those who submitted their return by mail, it may take up to six weeks. You can check the status of your refund with the IRS2Go app on your mobile phone or online at IRS.gov/refunds.
If the COVID-19 pandemic has taught us anything, it’s that we do not know what the future will hold. As we creep back towards a sense of normalcy, it’s vital that we do not become complacent. If your business was fortunate enough to survive the pandemic, then ask yourself what you need to do to be in a stronger position for the next crisis. How can you enhance your business now? Businesses across all industries need to design and implement new systems that will allow them to function in multiple types of environments. This may mean adding new products or services to provide additional value to your customers. For example, a local pizza place in Green Bay, Wisconsin, began offering cookie kits for Easter and chocolate-covered strawberries for Mother’s Day. The restaurant had never sold
Be ready to prove your identity by having the following information at hand: 1. Your Social Security number or Individual Taxpayer Identification Number 2. Your filing status (single, married filing joint, head of household, married filing separately, or widowed) 3. The exact refund amount you’re owed (This will be listed on your tax return.)
cookies or chocolate-covered strawberries before, but they knew they had to innovate when they lost in-restaurant diners. And they earned thousands of dollars with their value-added strategy. Innovating also means embracing technology you never thought you needed. Clothing retailers should be livestreaming fashion shows so shoppers can see the latest trends while they can’t coming in to browse. Wine shops should consider organizing digital events like wine tastings, where customers can pick up the wine curbside and taste the wines at home during the video tasting event. Think outside the box. Have fun and reinvent your business to stay connected with your customers. Try to think of new opportunities to create new streams of revenue.
THE TAX FILING DEADLINE HAS BEEN EXTENDED TO JULY 15, 2020, but you don’t have to wait that long to file. If you are expecting a refund, then let us help you get that return in ASAP. If you file your return now and owe additional taxes, then that amount is not due until July 15. So get your return completed now and enjoy the dog days of summer!
By doing something your competition isn’t willing to try, you will stand out and you will be the one your customers remember.
Keep in mind that you also need to make sure your employees are informed and aware of the role they play in the company’s success. With all the negativity surrounding a crisis, your employees can lose sight of their purpose and you will see a dangerous decline in productivity. Keep those channels of communication open. Ask your team what they need. Ask them what they’re hearing. Let them know about what you’re planning, your reasons behind it, and the steps the business is taking to not just survive, but thrive, during and after the crisis. Challenging times are when businesses and individuals tend to be the most innovative because they are intensely driven to resolve the difficulties before them in order to survive. They know if they follow the norms or do nothing, then they will perish. The pandemic’s lasting effects on our world are yet to be determined. You cannot afford to wait and sit things out if you want to prosper. Use this time to adapt and enhance your business now. Being proactive is the only way to help your company thrive when the next crisis hits.
DLJ Wealth Services, LLC is a registered investment advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial advisor and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Advisory services are provided by DLJ Wealth Services, LLC. DLJ Wealth Services, LLC is a registered investment advisor. Tax advice is provided through DLJ Tax Services, LLC, a separate legal entity, but both companies are owned by Deb Matz.
3
DLJTAXSERVICES.COM • DLJWEALTHSERVICES.COM
Made with FlippingBook - Online catalogs