Derek Harlan

Are indoor mapping apps the answer?

Imagine this. You’ve just walked into your local shopping mall when you hear that particular unmistakable jingle. As automatic as breathing your hand reaches into your bag and draws out your phone. Only it’s not a text or call your seeing, your phone is directing you down the crowded corridor. Instinctively you follow the line not sure where it’s leading, but you have no reason to fear, you’re phone has never lead you astray before. As the line ends you find yourself standing in front of a display case at Zales. Ah! You think that’s exactly what my spouse wants for our anniversary! You pull out your wallet and and get the clerk to wrap it up into a nice package, and voila anniversary gift shopping is done.

Retailers have begun experimenting with technologies that enable shopper to find products they want using their smartphones. A variety of products exist however they all basically operate under the same concept. By leading consumers right to the object of their desire brick and mortar stores are hoping to gain an edge over online shopping.

Two products in particular iBeacon & IndoorAtlas tackle the problem in different ways. iBeacon uses Bluetooth devices to alert the users of potential sale items and offers as they walk past the transmitter. IndoorAtlas works more like a traditional map app such as Google Maps to navigate users to stores and even specific products within a store. One major issue, however, is that consumers will need to install these apps and then use them when they are in a shopping center. This leads to some delays in deployment as the shoppers need to participate in the roll-out of these services.

“That’s due in part to the fact that we’re trying to teach them new behaviors,” Kindred said.

Adam Silverman, an analyst at Forrester Research, said that customers who are looking for something in a store find it easier to just ask a sales associate, rather than installing an app.

“Although it makes sense on paper, the customer hasn’t been fully engaged in some of these beacon-based technologies, mainly because it doesn’t make their shopping easier, or more engaging,” Silverman said.

Once these technologies become more mainstream the uses can branch out to more than just shopping. For example these apps can give travelers directions to their gate or baggage claim in an airport, or directions to a particular suite in an office building. Or even provide emergency evacuation instructions should an event arise.

Indoor mapping technology faces an uphill battle of user adoption. While it seems like a good idea only time will tell if it becomes a popular one. However, it gives us hope to reduce the labyrinth of today’s malls and airports to a manageable path. Can you see yourself using these apps?

Source: Can a Google Maps for indoors save shopping malls? – MarketWatch

How to reduce stress at work – AICPA

Feeling burned out? Let’s take a break to recharge our batteries and refocus our work. Sheon Ladson Wilson offers us some advice on how young CPA’s can de-stress their workday.

Wilson offers six points:

Find out exactly what your bosses want from you
Don’t take on too much work
Have reasonable expectations for yourself
Create a more relaxing physical environment
Don’t forget to exercise – and take some time out from work
Give yourself small rewards throughout the day

The first two are particularly interesting. Often times I like to take the ball and run with it, only to find out there was an easier way or my supervisor had different expectations.

[ask] whom she can contact for additional information, how the task was completed previously, and the expected outcome. “I like to know in advance what is considered a good job”

By knowing upfront the task your undertaking you can plan and save yourself a lot of stress. Wilson offers us some practical advice on how to improve our professional lives and life-work balance. So let’s all let out that deep breath and get back to work.

Source: How to reduce stress at work – AICPA

Always take the call…

When you’re searching for the next position in your career it’s important to be willing to work with executive search firms to help place you in the right position. In his article John Touey explains the importance of working with these search firms and also offers some practical advice to would-be job seekers. By following his advice one can hope to find that golden opportunity.

Touey offers four points of advice:

Always return the [executive recruiter’s] call
Research the field
Get a referral
Look for opportunities to strengthen your personal brand.

We can boil these down in a couple of ways. By talking with the recruiter you can tell them what you want. Of course to do that you’ll need to know what you want to do and how that can fit in with the industry or company you’re targeting. This is something you can’t do alone and so work with your connections in your network to find a recruiter who can help you and lastly always keep growing and improving your image through speaking, writing or blogging and so on.

Remember, the search firm works for the employer, not you. The only person who truly has your best interests at heart in the recruitment process is you.

With these tips under your belt you can put together some steps to increase the value of your personal brand. Making yourself more attractive to future employers and hopefully fulfilling your professional goals in the process. So next time opportunity calls – pick the up the phone.

Source: Don’t Miss Your Next CFO Job Opportunity

Check your tax return before filing

Want to save yourself from thousands of dollars in penalties? It’s important to carefully review your tax returns, even if you pay someone to prepare them for you. In a recent ruling the IRS upheld a substantial penalty despite their claim that they relied on the practitioner for tax advice. Careful review and understanding of each and every assertion on your tax return is crucial before signing and sending to the IRS.

Stough vs IRS is a complicated case, but the basic premise is that the taxpayer considered a payment for property improvement as a deductible expense. However, the court ruled that this payment was actually rent because it had the substance of rent. For example, the tenant was making this payment to reduce future rents, and the lease provision allowing this payment was in a section of the lease entitled ‘rent’. After the finding, Stough requested the penalty be waived because they relied exclusively on their practitioner’s advice.

The court has a special set of criteria that must be met in order to substantiate that claim.

“The adviser is competent with sufficient expertise;
The taxpayer provided appropriate information to the adviser; and
The taxpayer “actually relied in good faith on the adviser’s judgment.”

In this case the third criteria was not met as the tax payer admitted that they didn’t review the return or Schedule E (the schedule where supplemental income is reported) prior to signing it. In addition the preparer didn’t discuss the return with them. According to the court unconditional reliance isn’t a defense especially when the taxpayer should have known about these tax provisions.

You must remember you are always responsible for the contents of your tax return. Always take a few minutes to examine the return before filing and don’t be afraid to ask questions. Keep this in your mind and you’ll keep your butt out of court.

Source: Is it rent? That depends on the lease

Baby on Board? 7 Tax Tips for Expectant (and Hoping to be Expectant) Clients – AICPA Insights

Infertility can be one of the most the serious crisis any married couple would hope to avoid. But if it is mountain you and your partner must climb, please realize that you are not alone. And there are ways to plan and help mitigate the costs of treatment.

In the article Sternberg offers some important tax considerations. For example there is always the possibility of deducted costs of treatment on Schedule A (assuming they exceed 10% of your adjusted gross income). However, she also stresses the need for an flexible spending account which can be funded with pre-tax dollars as another method of lowering the burden and overall costs of treatment.

Money taken from an employee’s paycheck and put into an FSA is not subject to payroll taxes, resulting in significant tax savings. Fertility treatments, like all medical and dental expenses, can be deducted from Schedule A if they exceed 10 percent of a couple’s annual gross adjusted income.

She offers a quick refresher on other deductions. If you find yourself in this situation, there’s nothing to be ashamed of. Consider some of these suggestions to help make the financial end of the situation a bit easier. As always please check with your accountant or qualified practitioner before acting on any tax advice and to see what’s best for your circumstances.

Source: Baby on Boar d? 7 Tax Tips for Expectant (and Hoping to be Expectant) Clients – AICPA Insights

Goodbye open office, hello office neighborhoods – RealViews

Good Day All,

What concept does your office follow? Open, Closed or Neighborhood – JLL RealViews gives us some info on a new concept in office layout. The Neighborhood concept organizes work-spaces into functional groups.

Think of it as a ‘finance’ table or ‘marketing’ area for instance. In essence your groups are gathered around the people and resources they need to be productive. This layout, for some organizations, favors collaboration and minimizes floor space.

Would a neighborhood layout improve your productivity? Let me know in comments.

–Derek

Source: Goodbye open office, hello office neighborhoods – RealViews

The downside of automatic 401(k) enrollment

Good Day All,

I’ve always been an advocate of the Opt-Out 401k concept. When I started my job I couldn’t wait to setup my 401k but I believe at the time I had to wait 30 days before I could do so. For many people, they become quickly accustomed to the take home pay on their check that the shock or thought of it being reduced becomes hard to sallow. So having this automated from the get-go seems like a win-win, right?

Well Kelley Holland of CNBC points out some flaws. First off, the employer has to pick the initial contribution rates, and they are picking very conservative rates. Of course, this would be a very personal choice based on your circumstances, so I can’t blame companies for not wanting to default to 15% for instance. The second part of this problem is that employees aren’t going and changing these rates. In other words by automating the process people aren’t taking responsibility for their retirement.

One solution that’s in use is automatic increases overtime. But again these rates are fairly conservative and the employee still needs to actively manage their account. To me one solution would be to put the rate selection front and center during the benefits selection. Of course some basic education in retirement savings would help. This could be put right alongside the insurance selections which always need explanation anyway.

Do you have suggestions to how we could address this issue? Let me know in comments.

–Derek

Source: The downside of automatic 401(k) enrollment

JLL to Acquire Smart Building Specialist CoR Advisors | 2015-06-19 | ACHRNEWS

Good Day All,

JLL has signed a letter of intent to acquire CoR Advisors, a smart building consulting and solutions business. Founded in 2009 by Darlene Pope, CoR Advisors specializes in helping transform buildings into energy efficient, high-performance facilities. The acquisition is expected to close this month.

With this move JLL is expanding their reach into automated building systems and my predicted growth of IoT on CRE is confirmed.

–Derek

Source: JLL to Acquire Smart Building Specialist CoR Advisors | 2015-06-19 | ACHRNEWS

Banks Curtail Employee Use of Voice Mail

Good Day All,

In this day and age voicemail is joining with the fax machine. I think the costs of keeping these systems is money that could be better used elsewhere…What do you think? Let me know in comments!

–Derek

Source: Banks Curtail Employee Use of Voice Mail