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In This Issue
Wrapping Up The 2008 Tax Year
Chicago Vistage Chapters Host Guest Speaker Patrick Renvoisé
Sending Files Is About To Get Easier!
Creating Opportunity
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TTE Newsletter
December 2008

It seems hard to believe that 2009 is around the corner! 2008 has been a year of steady growth and new frontiers for TTE. Our client base has increased, we've brought on more transcribers, and we've seen an increase in requests for translation and foreign language transcription. Several projects are in the works, so keep checking the newsletter for more details. One of the projects is featured in this newsletter - take a look at the article "Sending Files Is About To Get Easier!"
     During this season of celebration, may blessing and joy fill your moments. We appreciate your business!

Terry Thompson

Terry Thompson

Wrapping Up The 2008 Tax Year
Getting A Head Start On Tax Day 2009

Order, structure, and getting the right answers are just a few of Kray Kibler's passions, and  indispensable tools he uses every day. Kibler is a certified public accountant and company CFO. While data entry is a part of every accountant's job, Kibler especially enjoys problem solving a new tax question or code application that might not have an obvious or direct answer.
     Kibler talked with writer Sue Rosenfeld about preparing for and getting a head start on April 15, 2009 in how we wrap up 2008. He says, "With a little bit of planning we can bring 2009 deductions into 2008."
  • Consider accelerating any capital purchases planned in the next six months into this year's fourth quarter for a Section 179 deduction. (Note: According to the IRS, the asset has to be placed into service for the deduction to qualify. Also, the Section 179 tax deduction does not apply to any company that buys more than $10 million worth of assets.)
  • As you manage your cash flow, consider changing the timing of planned payments and anticipated cash expenditures from the first two weeks in January to the last two weeks of December. Not only would you be getting any applicable deductions a year sooner, but possibly at a better tax rate.
  • Postmark January charitable donations by December 31st to bring 2009 deductions into 2008.
  • Make  your January mortgage payment in December so it shows up on your 2008 year-end mortgage statement.
     Keep your receipts! Know what qualifies for a deduction and what proof is now being required to take a deduction. "In the past 18 to 24 months," Kibler says, "I have seen a lot more audit activity. I've seen it in the clients I work for, and I hear the exact same thing from other accountants like myself." Kibler recommends taking advantage of the IRS Web site to answer questions you might have. "The IRS has a very competent Web site. The IRS has written plain language instructions for many common tax topics that are very helpful," he says.
     Many of the rules for charitable deductions have changed in regards to what you can deduct and what proof you need to have for that deduction. One example is car donations. "The rule changed two years ago. It has become very, very difficult to take a significant tax deduction for donating a car," Kibler says, and he often discusses additional options with clients.
     One final tip Kibler has - file electronically if at all possible, especially if you have a refund. "When you send a paper tax return to the IRS, a data entry clerk has to enter all of that data into the IRS computer. If you file electronically, your information goes directly to the IRS computer and there's no data entry error. Also, the second thing that happens is you usually get your refund much, much faster."

The information in this article if for general information purposes only.

Kray Kibler, a certified public accountant in the states of Illinois and Pennsylvania, has twenty years of experience in the accounting and finance field. After receiving his accounting degree from Geneva College in Pennslyvania, Kibler completed his MBA at North Park University in Chicago. Kibler is currently a company CFO in addition to owning his own business as an accountant and consultant for closely held businesses.

Chicago Vistage Chapters Host Guest Speaker
Patrick Renvoisé Speaks At Vistage Meeting

Hancock Building
The Signature Room, at the top of Chicago's John Hancock Building, was the backdrop for guest speaker Patrick Renvoisé's neuromarketing presentation at TTE CEO Terry Thompson's November Vistage meeting. Renvoisé spoke on what he terms the "Old Brain" and the "SalesBrain" methodology: diagnose the PAIN, differentiate your CLAIMS, demonstrate the GAIN, and deliver to the OLD BRAIN.
     Renvoisé is co-founder of the company SalesBrain and co-author of the book Neuromarketing: Understanding the Buy Button in Your Customer's Brain. For more information about Renvoisé, the company, the SalesBrain methodology, and his book go to the SalesBrain Company Web site.
     Two Chicago area Vistage chapter groups attended the all-day meeting, including the one Thompson is a member of, as well as twenty-five guests. Renvoisé presented in the first half, and then the chapter groups held individual meetings in the second half.

Sending Files Is About To Get Easier!
TTE Automating Dictation Software System

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TTE has recently contracted with Common Sense Solutions, Inc. (CSS) to work on upgrading and automating TTE's dictation software system. The automated system will still be password protected. Merchant services and job status tracking are two of the new features that will be included in the upgrades. More details to come in the New Year.

Creating Opportunity
TTE's CEO Fills Out Forms On Obama Web Site

TTE's CEO Terry Thompson continues to spread the word about TTE. She recently completed forms on the Obama Web site, providing information about TTE and the transcription and translation services TTE could provide to the president-elect's administration.

Product Spotlight

Your most creative ideas come when you're not behind your desk or after staff has left for the day. Important business details come to mind when you're stuck in traffic or waiting in airports. IdeaScribe, your personal virtual secretary, is there when you need it. Accessible 24/7, IdeaScribe is convenient and easy to use. After dialing into TTE's automated conference line, you dictate your ideas, goals, plans, visions, and instructions for company memos, reports, letters, or files. IdeaScribe does the rest, delivering the completed transcript via e-mail to your requested recipients.
     Ideal for anyone who wants to record important information before it becomes a fleeting thought, you can be confident that IdeaScribe will get your information where it needs to go when it needs to get there. 
     To start using IdeaScribe, call TTE today at 847-592-6211.

Client Testimonial

"I always get a fast response when I send files for transcription. This service saves my company many hours in productivity. Without TTE, it would be difficult for us to complete our projects and meet our deadlines."
Merry Woten


Sue Rosenfeld, Writer/Editor
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