IT'S SUMMER — TIME FOR A VACATION!
By Lindsey Anderson, CPA
Manager, Tax Services
After the last couple of years, which have been quite erratic, we could all use a break. With summer in full swing, now is the time to take one!
But given the unpredictable, ever-changing nature of the business world, are you hesitant to step away from your work? With proper notice and planning, there's no shame in taking a vacation. Just sit down with your manager to work out a schedule and determine who can take over your tasks while you’re gone. They'll be grateful for the heads-up! If you don't plan for a vacation, you may never take one.
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The IRS Increases Mileage Rate for 2022
Earlier this month, the IRS announced an increase in the optional standard mileage rate for the final six months of 2022. Beginning July 1, the rate will be 62.5 cents per mile, four cents higher than it was at the start of the year. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes. The new rate for deductible medical or moving expenses (available for active-duty members of the military) will be 22 cents for the remainder of 2022, up 4 cents from the rate effective at the start of 2022. For travel from Jan. 1 through June 30, 2022, taxpayers should use the rates set forth in Notice 2022-03. For more information, click here.
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INVEST IN YOUR OWN PERSONAL GROWTH
By Jason Thompson, CPA/ABV, ASA, CFE, CFF
Partner and Director of Valuation and Litigation Services
Learning is a lifelong process. In an interview with Moviemaker Magazine, even master filmmaker Martin Scorsese, who's been making movies for five decades now, said he's "still learning to tell stories with pictures."
This summer, as your kids earn their merit badges and karate belts or take on internships, think about what new skills YOU should acquire. Although it's easy to get lost in the daily grind and think you're doing just fine at your current skill level, learning and improving are vital not only for professional success but for personal satisfaction, confidence and self- esteem as well.
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IF YOU'RE AN EXECUTIVE, CONSIDER A PERSONAL RETREAT — BY YOURSELF!
By Lisa Purichia
Partner, Director of Accounting Services & Retirement Plan Services
In Stephen Covey's seminal business book, The 7 Habits of Highly Effective People, there is a chapter about "sharpening your saw." It tells of a lumberjack who is trying to cut down a large tree but not making much progress because of his saw's dull blade. Someone suggests that he should stop and sharpen the blade to expedite his work, but he believes the time lost in the process will prevent him from completing the task in a timely manner.
Unfortunately, a lot of leaders in business reflect the beliefs of this short-sighted tradesman. They focus on working harder, not smarter. They're too busy working in their business rather than on their business. They believe taking time for strategic thinking is a "luxury" that can be avoided, as there are too many "busy" things that must be done ASAP.
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EMPLOYEE SPOTLIGHT: TINA KELLY
Tina Kelly has been with Sponsel CPA Group from the very beginning. With more than 30 years of experience in the accounting industry, she is a vital asset to the team.
As a Manager in the Accounting Services department, Tina provides services to clients who require customized accounting solutions as well as general bookkeeping, payroll services, reviews and financial reporting. She is also a QuickBooks Desktop and Online Certified Pro Advisor, helping with the setup, installation and training process for this accounting software.
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Sponsel Team Has Summer Fun! |
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The team enjoyed our first fun in the sun event last month, sipping cocktails and cruising around town on the Pickled Pedaler party bike. |
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Earlier this month, our team, along with family and friends, saw the Indianapolis Indians emerge victorious at Victory Field. |
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This summer, we're pleased to welcome Olivia Salyers, who's joining us as an intern after graduating with a degree in accounting from Purdue University.
Sponsel Family Recognized for Community Contributions
Last month, we wrote about how the Perry Township Education Foundation (PTEF) honored the Tom Sponsel Family for its 30+ years of continuous contributions to the Perry Schools and its many affiliates. Read more about it in this Southside Times article.
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