Since starting work at Bourke Accounting on September 30th, I have never arrived late. I am a grownup and know how both punctuality and alarms operate. I don’t know the repercussions for lateness (I could read the Bourke handbook, but I like surprises), and unless something catastrophic occurs, my perfect record will remain and I will have no need to know about repercussions.
Not everyone is like your humble narrator (here, I’ll help you pat me on the back). For example, when I was working HR, there was an employee who only managed to arrive on time about once a week – she was so proud of herself when she did. She had an astounding array of excuses: flat tire (no receipt), doctor appointment (no note), many bats flying around inside her house (um), etc., etc. When she was finally given a one-day suspension, she flipped out. Although I had copies of every warning issued to her, along with the company’s attendance policy, she still felt that I was somehow persecuting her. Our boss had allowed her to slide so often, that she felt that she was above the rules.
According to Forbes.com, a YouGov poll reported that “one in five Americans (19%) arrive late for work at least once a week while just under half (48%) are never late.” That’s a pretty sad statistic. In addition, “businesses lose over $84 billion each year to absenteeism” (Businessnewsdaily.com). This is due, of course, to the fact that absent workers are rarely productive. Also, other workers are forced to take up the slack. Finally, if management isn’t consistent regarding consequences, morale could be seriously damaged or workers may conclude that promptness isn’t a priority.
Some articles I’ve read suggest that, if an employee is consistently late because of something like a conflict with daycare, the employer should contemplate changing the employee’s schedule (SBA.thehartford.com). I don’t believe that to be a viable option. When an employee is interviewed, work hours are discussed; it is the employee’s responsibility to mention the issue at that time, not after being late for the 10th time in a month. I’m not saying that accommodations should never be made, I’m just saying that an employee should be truthful from the beginning about what is required.
Although some employees show up late because of naughty, nighttime habits or just out of plain laziness, there’s an additional reason that’s fairly depressing. According to Mitrefinch.com, “if [the employee] feels undervalued and underappreciated…do not be surprised when he submits a letter of resignation.” Oddly, this becomes more prevalent if your employee “belongs to your creative department.” Apparently, we sensitive types are, well, sensitive. Again, I’m not saying that a business should bend over backwards to accommodate a temperamental artist (feel free to do that for me, Bill), but when a worker expresses concerns about something, perhaps you should give said worker a forum to talk it out.
Working is an evil necessity. In my opinion, if you’re being paid to come to work, you should show up at the time that was agreed upon. I might be a bit liberal, but I also have a sense of fair play.
Bourke Accounting specialists won’t deride you for arriving late to your appointment; however, they’d appreciate it if you were punctual – it keeps the schedule intact. If you find yourself consistently showing up late for work, though, you might want to analyze the reasons behind it. Bourke Accounting isn’t an employment agency, but our reps might be able to help you to stack up your money if you’re thinking of a job change. Taking the plunge might be difficult, but with Bourke Accounting on your side, you might find it well worth it.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
You ordered a cheeseburger, fries and a Coke. What you received was 4 large milks, a ketchup packet and a blank stare when you complained. And these guys want more pay?
Well, yeah, kinda.
Minimum wage jobs usually aren’t very fun. In the minimum wage world, a worker can look forward to hard work, rude customers, backward bosses and, that’s right, a paltry paycheck. At this point, we know that the minimum wage does not keep up with inflation. We also know that minimum wage is not synonymous with living wage. So, what do we do?
There has been a lot of talk recently about increasing the minimum wage to $15.00 an hour by 2025. At first glance, this sounds great: people will have more money to spend, worker morale will go up, maybe more preventive care appointments will be made. In short, the wolves will be kept at bay and peace and happiness will reign throughout the land, forever and ever.
One quick question regarding this great proposal, though: who, exactly, is holding the big bag of money to finance this? Of course, giant corporations can simply raise the price of their products a few cents and all’s right with the world. However, that’s not going to be feasible for the smaller, Mom and Pop type of store. If the smaller businesses “can no longer compensate the same number of employees at a higher rate” (WhenIwork.com), they’re going to have to lay workers off. The cold, sad truth is that “while some employees may be making slightly more money, others will be left unemployed.” Well. That is not helpful.
Another aspect that I hadn’t thought about was rent and the greed of unscrupulous people. Thebalance.com warns that a higher minimum wage in an area could inspire some landlords to raise rent, “creating inflation.” Again, not helpful.
Jack Kelly, writing for Forbes.com, takes a more psychological approach to the subject. His premise is that low wage jobs “are not designed to provide for a family.” These types of jobs, Kelly maintains, are suitable as a first job or for a “temporary port in the storm.” He believes that, if the minimum wage is raised, more people will become complacent with lower skilled employment and never move on to “bigger and better things.” His idea, which I agree with, is to “allocate money to train people to enter areas in which there are shortages of workers, such as the trades.” In addition, Kelly is a big fan of continuing education to arm employees with the tools to become upwardly mobile.
We deserve a fair wage for a fair day’s work, that’s obvious. At this point, though, I’m not sure how we can accomplish this without creating other troubles that might be worse than the original one. Like most of the social ills in our society, money is the problem, the solution and then maybe the problem again.
Bourke Accounting would like it if you were paid as much as you’re worth. If you aren’t, Bourke Accounting can offer strategies for you to make the most of the dollars you do get. In addition, your Bourke Accounting expert can help you design a workable budget that will definitely improve your future financial outlook. Bourke Accounting is a lot more than just tax preparation, but you knew that!
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
Me: I am the receptionist/blogger extraordinaire at Bourke Accounting and I have to be peppy for my job. I need to deduct my Red Bull.
Taxman: No.
Me: Awwww (kicking rocks).
Obviously, I can’t deduct my energy drinks. After the Tax Cuts and Jobs Act, it wouldn’t make much sense anyway, considering “the new law roughly doubled the standard deduction to $12,000 for singles ($24,000 for married joint filers)” (CNBC.com). I would have had to buy over 4,800 cans of Red Bull to get to $12,000 and, while Red Bull may give you “wings,” it doesn’t give you itemized deductions.
However, there have been a few instances when taxpayers defeated the IRS regarding deductions that seemed, well, pretty out there:
1) Cynthia S. Hess (AKA Chesty Love). In 1994, Ms. Hess was an entertainer for mature audiences. She decided to enhance her original form in such a way that, she concluded, would ultimately boost her finances. When she tried to deduct her transformation, the “IRS said it was nondeductible cosmetic surgery” (Forbes.com). Ms. Hess appealed. The Tax Court eventually “allow[ed] her to claim the implants as depreciable assets, a type of stage prop” (Forbes.com). Ms. Hess’ net worth stands at $950,000 (Networthpost.org), so she might have had a viable point.
2) This is one you don’t hear every day: a guy decided he wanted to manufacture illegal drugs. He must not have been very good at it since he only succeeded in burning down his building. He then proceeded to “claim a $9,000 casualty loss” (Sageintacct.com) on his return. Did it matter that he was engaged in naughty activities? The Tax Court clearly didn’t think so, as he was allowed “to claim the write-off.”
3) This one is similar to Ms. Hess’ story. Corey L. Wheir, a bodybuilder, attempted to deduct the body oil he used in competitions (bodybuilders are always so shiny!) and the IRS denied it. The Tax Court allowed it because, they argued, the oil helped him to win contests (Forbes.com).
Do you get the feeling that the US Tax Court messes with the Internal Revenue Service for fun? Even though that sort of seems like the case, keep in mind that you, as a regular civilian, probably couldn’t get away with these sorts of tax deductions; these three examples are definitely exceptions to deduction rules.
Do you feel the need to deduct $50,000 for Beanie Babies as therapeutic (stuffed) service animals? Before you do that, why not come and talk to a Bourke Accounting professional? Your Bourke Accounting expert might have a simpler plan of deduction action for you that won’t get you red flagged by the IRS. While our Bourke Accounting team is forward-thinking, they’re also grounded realists. Follow the advice of your Bourke Accounting specialist and avoid seeing the inside of the US Tax Court.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
A few years ago, my brother and I discussed opening a shop. We’d sell funky clothes, jewelry and records (records are still cool). We even scouted different neighborhoods for a location. And then it dawned on us: we had no capital, no backers, no inventory (or any idea how to get any) and we had no clue how to open, let alone run, a business. If we had consulted a Bourke Accounting pro, we would have realized the truth a lot faster. But. The dream was nice, anyway.
Most people want to open their own business because, much like my brother and I, they long for freedom from a tyrannical boss, freedom from work that isn’t that interesting and, in some cases, isn’t that lucrative. Most people want that sense of control that just doesn’t happen by being a cog in the machine.
It also doesn’t hurt that we see people like Bill Gates and ask: Well, why not me? Easy answer? Because most of us are not Bill. Sad, but true. Also, sad, but true is the amount of new businesses that fail. According to Fundera.com, “20% of small businesses fail in their first year, 30% of small businesses fail in their second…finally, 70% of small business[es]…fail in their 10th year.”
Some businesses fail because the demand isn’t there. For example, Tom + Chee had a great little restaurant in Louisville in the Highlands. Lots of foot traffic, good location, amazing grilled cheese sandwiches. But, as Eatdrinktalk.net pointed out, “grilled cheese…isn’t a whole concept, it’s a menu category.” As much as I like grilled cheese sandwiches, I wasn’t eating Tom + Chee every day. And neither was anyone else.
Tom + Chee is a great example of a point that Michael T. Deane (writing for Investopedia.com) makes: “You have to find…an unmet need within a market and then fill it rather than…force your product…in.” Evidently, Louisville didn’t feel the need for a restaurant that sold grilled cheese sandwiches exclusively. However, a company like Uber reflects Deane’s opinion very well. Uber fills a niche in college towns perfectly: low cost, lots of bars and young people who like to avoid DUIs. Uber is an almost laughably simple concept, however, in 2019 it was “targeting a valuation of $80 to $90 billion” (NPR.org). Simple? Yes. Laughable? Not anymore.
One final thing you ought to consider if you are thinking of starting a new business: what are you like? Eric Wagner, writing for Forbes.com mentions that some new business owners are guilty of “self-sabotage through extremely poor decision making and weak leadership skills.” If you’re serious about your dream, you should invest some time in management classes and figure out what kind of boss you want to be. Once you start hiring employees, you’ll want to be accessible, firm, fair and consistent. You’re not going to have a very successful business if you run off your employees.
Want to start a business? Come and meet with a Bourke Accounting expert to get real answers as to whether this is a possibility for you right now. Are you having difficulty with your new business? Sit down with one of our Bourke Accounting representatives and perhaps they can offer insight into why you are struggling and give you truthful, useful advice. If you’re planning to live your fantasy, Bourke Accounting wishes nothing but the best for you!
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.