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Running an Event Planning Business

Everyday Strategies for Controlling Excessive Absenteeism

Benefits of Time Management and Building Cohesive Teamwork


Time Management with employees can be the difference between profit and loss. It is a major function of any business. Companies depend on information produced by P&L Statements (Profit & Loss). It isn’t just a matter of producing enough work to cover the employee’s salary, but the P&L must show an overall profit after expenses.


Controlling Excessive Absenteeism

Tracking Time

There are many ways to track employee time on tasks and projects. Free software is available for simplistic tasks, and project management tools for more detailed and complicated tasks. Software costs will depend on the capabilities of the product and the intended results.

Many times clients request a breakdown of time and charges on their invoices. Time allotment of many tasks can be estimated from previous records, and used for estimating and quoting charges for specific jobs. Attorneys keep detailed charges broken into areas of phone conversations, research, prep, administrative, photocopies, filing fees, etc. Then you have other tasks more complicated and detailed with material costs, coupled with manufacturing and shipping costs. Whatever the case, time management must encompass all particulars of a product.


Employee Time Management

Time Management Software

Employees feel threatened when time tracking software enters the equation. They feel threatened, stressed, and insecure. Employees should view software tracking as a “good” thing. Time tracking software has enlightened many managers as to the employees who are overworked and many who need additional tasks to fill their daily workload. Of course, it can attract attention to slackers, too.

Time management software is not intended to single out any one person, but to more accurately justify the production costs of manufacturing whether it is an assembly, typing input, research, proofreading, or the overall cost of the product.

Managers Should Create a Process to Set the New Practice in Place

Consider the following ideas to improve the current absenteeism issues in your organization.
– Send out reminders each morning for the first week. Tracking time is an added step to an already established routine.
– Create the documentation for new hire HR policies.
– Create an incentive for those who remember to track their time accurately, and this can also apply to groups creating a more cohesive work atmosphere.
– All the above suggestions will create an incentive to comply and adjust to the new process.

Time Management Software will

– Help locate wasted time. Not necessarily employee wasted time, but outdated or incorrect process time. Possibly the process in use is outdated and needs revision or a new approach to the process is recommended.
– Prioritizing tasks in a project can be challenging. Possibly breaking the project into tasks, then prioritizing those tasks would help streamline the process.
– Reviewing the tasks to ensure all sections of the project need to be completed in-house. Possibly, some of the tasks could be outsourced. Outsourcing work also alleviates stress and error in many cases.

Managers Often, Test the Stress

– Improvement to some tasks may take a few revisions before the process is streamlined for ease and efficiency.
– Perhaps some workers adapt better to certain tasks than others, and a change in tasks should apply.
– As they say, practice makes perfect. Reassure the staff that monitoring is related more to streamlining production than individual capabilities.

Time Tracking Results – Happier Employees

– Employees will realize the benefits of time tracking as job recognition and job appreciation.
– Equality of workload. Balancing the workload of each employee for production and quality.
– Employees will appreciate the importance of teamwork and job satisfaction.

Time Tracking Results – Happier Clients

– The tracking software can be used as a method of updating the client of progress on their project.
– The tracking software can justify costs and quality.
– The software can also assist the client in projecting product readiness and projected sales.


Adopting Best Practices


Adopting a good time tracking method in any business will immediately pay off. Business owners and managers will immediately know where time is lost, and this is where TIM (Time Is Money) fits into the equation. Participation of staff in resolving best practices in business creates a more cohesive team, which in turn, creates efficiency.

The number of products on the market for time management and time tracking are numerous, but the benefits of using time tracking methods are endless. Efficiency is probably the most important factor; P&L is essential, and the capabilities of staff determine the overall cost.



Content courtesy of Neches FCU, an Equal Employment Opportunity Employer.
Neches FCU is one of the most trusted Texas credit unions. Their attentive team of professionals are ready to service all members every day when the doors to their 9 service centers open. Their core objective of “Ultimate Member Satisfaction” is the sole focus for every representative, and it shows in their dynamic and enthusiastic work atmosphere, providing a memorable service experience to all members.

Why Good Record Keeping Is Critical When Claiming Charitable Tax Deductions


Good record keeping

Good record keeping


If your goal is to itemize on your tax returns and part of those deductions include charitable contributions, then you should be aware of a few things. There are many reasons for taxpayers to contribute to their favorite charity, but when it comes to deductions, the IRS has rules for acceptable inclusions. As a taxpayer, the most important guideline is to maintain proper records as this will provide you with confirmation if you are ever questioned.

Keeping Records

It should be noted that taxpayers who fail to keep the appropriate records will run the risk of being denied as to their claim. Statements must be provided by the recipient as to the value of the contribution being presented. This rule generally applies to items that have an agreed value of more than $250. It also applies to any vehicles being transferred.


Charitable contributions

Charitable contributions



Charitable contributions should be considered as noble gestures, however the recipient must be recognized by the IRS to qualify for a deduction. In order for an organization to qualify, they need to apply to the IRS for a tax-exempt status, which generally means that they are non-profit. If you are not concerned about a deduction, then this information won’t matter to you.

Making the List

Verifying that the organization you wish to offer that used car to will be acceptable by the IRS as a charitable one is easy enough. The IRS provides a list of recognized organizations through publication 78, otherwise referred to as a cumulative list of organizations. This list is updated every year and may end up with adjustments. Make sure to verify that your organization is on the list for the specific tax year.


Legitimate charitable Contributions

Legitimate charitable Contributions


Legitimate Contributions

Most everyday items can be considered as legitimate and acceptable contributions, but that does not mean that they aren’t exceptions to the rule. Guidelines will be somewhat different between material and monetary donations. For instance, household items and articles of clothing will need to be useable and in good condition if you intend to claim them as a deduction. Do not assume that you can discard an old sofa at a drop-off point and use it to reduce your tax liability.

Second Opinions

There are instances when a taxpayer makes a donation of an item that has a value greater than $500.00, and the value may be questionable. The IRS is willing to accept an outside appraisal from a reputable organization as to the value of the item. It should be noted that a record of this appraisal must be retained by the taxpayer.

Money Talks

Many taxpayers enjoy making donations, but would prefer to do so in a monetary form. This is perfectly acceptable, but will require a written record of the transaction. There is no stipulation other than all funds need to be accompanied by a statement that is either handwritten or typed on a letterhead. Documented transactions must display the name of the charity, the amount being donated and the date the funds were exchanged between both parties.


Bank Records

Bank Records



Alternative Forms of Verification

Bank records such as canceled checks or statements from your credit card company are acceptable forms of verification. Records that can confirm electronic transfers are acceptable. If the taxpayer has a recurring donation that is drawn on their payroll, a W-2 should be enough to satisfy any requirements that the IRS may have. In the case of the payroll deduction, it is a good idea to associate a pledge card with the deduction.

Drawing The Line

There is a common misconception that everything you donate to an IRS approved organization is deductible; this is not true. Allowable deductions may change based on IRS rules, but they generally revolve around the item you are donating. In many instances, the amount that you won’t be able to deduct can be transferred to the following year. This transfer policy is usually good for a period of five years.

Breaking It Down

There are three basic contribution guidelines which are based on your adjusted gross income. Contributions on capital gains assets are restricted to twenty percent. Property has a ceiling of thirty percent. Cash contributions are the largest that the IRS accepts within a tax year and that number is fifty percent of your adjusted gross income.






The Right Time

It is important to understand that unless you make a contribution during a specific tax year, you won’t be able to take it as a deduction. If you wrote a check to your favorite charity in January 2015, don’t try to add it to your tax returns in 2014. Contributions by way of credit cards made during the tax year and paid outside of that period are considered as deductible. The taxpayer is not expected to turn in their supporting documentation for their contributions with their returns; however, they must retain the records in the event a deduction is questioned.

Hopefully, this article got you thinking about how to advise clients properly on charitable deductions. As a quick side note, if you’re not already doing electronic tax filing, you should get crackin’. When you efile 1099 and W-2 tax forms, you’ll usually get results faster. Like most tax pros, your clients probably have a employees and outsourced staff assisting them. If so, I suggest you follow my lead and stop printing and mailing tax forms. I use to file 1099 online, and focus on generating clients – not mailing tax forms. The video below will tell you more.

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