by cdaaccounting | Jan 7, 2022 | Business Deductions
Thousands of promising sales careers have been destroyed around the water cooler or coffee machine before they even had a chance to really get going, but you don’t have to let this happen to your Coeur d’Alene Idaho business sales. The old saying “a rotten apple will spoil the entire barrel” is true, especially in sales. Whatever you want to call it, water cooler talk, a smoke breaks out back, or an informal gathering in the corner of the showroom, be careful of customer-bashing conversations as they will quickly undermine your team’s ability to be an effective persuader and producer.
Take Responsibility for Your CDA Business Sales Force
Customer bashing is common in selling because it is an easy way for poorly trained and performing salespeople to pass their inability on to customers in the form of faults, strange personalities, or general disrespect.
This is dangerous territory because once your staff begin to believe or think about customers in a negative way, it will spread like cancer and it won’t be long until there is something wrong with every prospect. Break the cycle and clean out your sales team to avoid loss of sales in your Idaho business.
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by cdaaccounting | Jan 5, 2022 | Business Deductions
No. Investors are usually seeking a more formal business entity to invest their money. Since a Coeur d’Alene Idaho LLC is held to little requirements concerning management structure, it is easy to destroy the limited liability protection. One of the first moves a creditor or lawsuit will make, is to show that the non-working partners are involved personally. This removes the limited liability barrier and opens the investors up to personal liability.
In addition, investors in LLC’s find it difficult to determine what their money is going to, whether it’s being spent appropriately, and the value they are receiving since there is no stock.
To make matters worse, it is very possible for investors to be distributed a K-1 on profits in which they were never paid. Since a CDA Idaho LLC is still a pass-through entity, all profits on the books will trigger a total payout at the end of the year. Many times, extra profits are being used for operating cost, payrolls, expansion and so on. It may also be an internal issue concerning bad bookkeeping and accounting systems.
by cdaaccounting | Jan 3, 2022 | Business Deductions
Is a Coeur d’Alene Idaho LLC Governed by Bylaws or Operating Agreement?
Yes. An Idaho LLC’s use an operating agreement whereas corporations use bylaws. An operating agreement is similar in nature but is more specific to the flexible management style of a Coeur d’Alene Idaho LLC. The operating agreement is an important document that aids in legally separating owners from the company.
This document outlines any major aspects of the business including, company information, duties of active owners, percentage of ownership, distribution of profits and losses, buyouts, and death.
An operating agreement is required by banks to open an Idaho business checking or savings account, and to apply for lines of credit.
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by cdaaccounting | Jan 1, 2022 | Business Deductions
For many CDA Idaho shoppers, shopping is not merely buying to fill a need, it is also a form of entertainment. And judging by the number of retail stores and shopping malls across the nation, it is safe to say that shopping is a very popular entertainment pastime. So, with that said you should not overlook the value of bringing in entertainers to the delight of your Idaho business customers. Of course, not all of the suggestions made below will be suitable for every retailer, but some will be, or a variation will be suitable. Along with the various entertainers listed, I have also included a few tricks on how you can get the biggest promotional bang out of each.
Idaho Music Performers
Now in terms of music performers, they could range from a complete band-rock, jazz, blues, or country-right to a soloist with a cello on a Sunday afternoon. But regardless of the type of music or number of musicians, live musical entertainment is one of the most popular ways to keep customers entertained and in your store longer and coming back more often providing that live music is a regular feature. And guess what? Both add up to the potential of your customers buying more and more often. You shouldn’t have to pay for the musicians providing that there is a benefit for them to be there entertaining, which is namely the money they can receive by selling their CDs, and other related materials such as T-shirts, hats, or whatever they use to generate revenues. However, make sure that your Coeur d’Alene Idaho business customers are not dropping coins into a guitar case, this is tacky and uncalled for. You can get the most marketing mileage from live music performances by having the musicians build your products into their songs, or by wearing the products (fashions), sitting on the products (furniture), playing the products (musical instruments), and a whole host of clever ideas.
Idaho Theatrical Performers
Another form of entertainment to feature in-store on a regular basis is theatrical performers from a local theater troupe, high school, or performing arts institution. Once again, the vast majority of performers will perform for free or in exchange for product or for cross-promoting an event they have forthcoming by hanging fliers in your windows or selling performance tickets at the sales counter. And to really increase the effectiveness of having live theatrical performances in your store, try to convince the performer to create a play to perform about your products. This could be a spoof of a popular Shakespeare play with your Coeur d’Alene Idaho business products mixed in, or a completely new play that is specifically developed around what you sell.
Idaho Magicians
Like live music, magicians are also a favorite form of entertainment especially if your Idaho business in Coeur d’Alene shop caters to children and families. Have the magician use your products in her routine to make them disappear, reappear, or solve a problem right before your customers’ eyes. In exchange for the magician coming in and entertaining your customers offer to set up a service wherein customers can book the magician’s services for parties and events right at your store; provide this service for the magician in exchange for the service she provides you.
Idaho Artists
Painters, sculptors, and craft artists who make just about anything useful from a doily also can be a great form of entertainment for customers. Perhaps one of the best to have is a caricaturist who can come in one afternoon a week and make funny, yet lifelike drawings of your customers as they shop. These drawings can be given away to the customers as an appreciation gift before they leave the store. What may seem to be just small forms of entertainment, such as bringing in artists, can actually go a long way to increase word-of-mouth advertising. This is due to the fact that if you regularly have the artist or entertainer present, your CDA Idaho store will become somewhat of a local landmark and known for the entertainment you bring, which can dramatically increase word-of-mouth advertising.
Idaho Sports Demo
Sports demonstrations are yet another fantastic form of entertainment to bring into the store for the benefit of your customers. The sports demonstrations could range from karate or other martial arts demonstrations to table tennis, to a batting cage if you have the space required. Additionally, if you sponsor little league or other community sports teams make sure to bring then in for autograph signings and picture taking with your customers, especially if they have won major championships for your Idaho community. in for autograph signings and picture taking with your customers, especially if they have won major championships.
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by cdaaccounting | Jan 1, 2022 | Business Deductions
CDA Idaho Business Methods of Computing Depreciation
There are four methods of deprecation for your Coeur d’Alene Idaho business. All four methods result in the same tax write off eventually, but each method involves different amounts that can be written off in any given year.
- General deprecation system 1# (GDS #1)
- Genera; deprecation system #2 (GDS #2)
- Straight line method
- Alternative depreciation system (ADS)
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