CTR Organizing Team

Are you wasting time and losing money because you’re not as organized as you should be? We take advantage of tools and resources available, which can make or break our businesses. This is why choosing the right contact management system is one of the most important decisions you can make as an entrepreneur or small business owner.

These are the top contact management systems I’ve come across to keep you focused so that you can dedicate the bulk of your time nurturing existing relationships, while building on new ones so that your business can see the success that it deserves.

1. VTIGER (www.vtiger.com) – A great open source software that can be installed on your server.

2. SUGAR CRM (www.sugarcrm.com) – The best part of this software is that you can delete duplicates, which is a handy feature to have when uploading multiple contacts at once.

3. ZOHO (www.zoho.com) – This free application is great for the non-tech savvy individuals who still need a comprehensive system to manage their contacts.

4. PLAXO (www.plaxo.com) – This is the best of Facebook and LinkedIn. The social networking aspect is great but the contact management is what makes this website valuable. It also updates your calendars, address books and to-do lists with your other email accounts.

5. HIGHRISE HQ (www.highrisehq.com) – My latest addiction, this contact management system lets you tag your contacts, create to-do items and archive email communications. Not bad for $29 a month.

Other systems include:

www.salesforce.com, www.bosscrm.com, www.freecrm.com, www.batchbook.com and www.bigcontacts.com.

Tax return preparation is very difficult for most people even if you are going to a trained professional like my self. Often deductions are missed simply because the taxpayer has not thought of them and the tax preparer has not asked. Here is a list of the most commonly missed tax deductible items.

1. Miles driven for medical related incidences are deductible as an itemized deduction. The rate is $.20 for 2007 and $.19 for 2008. Miles are totaled for doctor visits and hospital visits. Start adding them up and you will be amazed. Think about it on a weekly or monthly basis and then multiply by 52 or 12 respectively.

2. Interest paid on a 2nd mortgage is deductible as long as the residence has a function kitchen and bathroom. Have you ever considered your motor home in this hidden tax deductible item?

3. Deducting charitable donations may be undesired by some because of the biblical adage “Do not let your right hand know what your left hand is doing.” However I tell my clients that the government rewards us for being benevolent so add up you contributions. Include donations to Deseret Industries as well as vehicles donated to various foundations.

4. Moving expenses incurred for a job related move are a tax deductible item. There are certain tests to qualify for this deduction so be sure to consult your tax advisor. Deductions include transportation and storage of household goods. Travel including lodging from your old home to your new home is deductible.

5. Deducting alimony can provide an annual tax reduction of $3,360 per year assuming $1,000 paid per month and you are in a 28% tax bracket. Do not pass this one up as the alimony is also taxable to your ex.

6. Student loan interest paid on loans for education is deductible. People often miss this one because a lot of changes take place after graduation and this deduction gets over looked. With rising education costs the student loan interest really adds up.

7. Most of us know that we can deduct our real estate taxes on our home but did you also know the state income taxes withheld from your W-2 are also deductible. Also the state income taxes paid during the year for a prior year should be included as a deduction.

8. Loans made to family and friends who have failed to repay you are deductible as worthless debts on Schedule D. You are limited to $3,000 per year until the full loss is taken. But if you have capital gains then the whole loss can be taken up to the amount of the capital gain plus $3,000.

9. If you are self employed there are countless deductions but for the purpose of this article do not be afraid to take a loss on line 12 of your 1040 resulting from your Schedule C. If I did not make any income from my self employed venture can I take a loss? Yes absolutely.

10. When a family member moves into another home you own often you will forget to report it. The incentive to reporting is that this is a tax deductible item. You can usually create a loss to be reported on your 1040 when these deductions are properly accounted for.