With “extreme makeovers” as a popular topic of conversation these days, what better time to update our newsletter with a new, friendlier look and feel, and to issue it electronically as well?

We’ve included a little something for everyone. Those of you who enjoy hearing about firm events and happenings will appreciate our new Chesscapades and Knightly News sections. (In the electronic version, Chesscapades is the Events web page.) Frustrated with spam? James Osborne shares how to minimize this annoying internet phenomenon. Need investment tips? See our Guest Spotlight featuring an article by Greg Rogers of Capital Asset Management, LLC. Looking for an interesting book to relax with on the patio? Delene Murray reviews The Leadership Pill by Ken Blanchard and Marc Muchnick.

And finally, with year-end just around the corner, now is the ideal time to evaluate your tax position and look for ways to improve it. Elaine Norton shares some suggestions you may want to consider.

Our goal is to provide interesting content that will add value to our relationship and your business. We would be delighted to hear your comments and suggestions for future articles. I can be reached at (812) 288-6621 or via email at Ron_Barnes@mnccpa.com.

Power up your financial picture with these tips

As we face the fast approaching end of 2004, what better time than now for you to review your business and personal financial outlook with an eye toward minimizing taxes?

For a business, consideration should be given to overall strategy and goals, cash and borrowing requirements, succession planning, as well as tax planning opportunities. For individuals, thoughts turn to personal financial planning, estate planning, gift opportunities and income tax planning. The following is a basic list of income tax planning tips:

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Buy and Hold: Is It as Simple as That?

Many educated investors today have embraced the theory that markets are highly efficient, and that the best way to maximize ROI is through a passive management approach, since efforts to identify under- or overvalued securities or to time the market are likely to be counterproductive. Not all, however, have a clear understanding regarding what a “passive management approach” involves.

“Passive” management should not be interpreted as lack of action, nor should it suggest only a “buy and hold” strategy. Quite the contrary, a passive approach involves ongoing action that is focused on a disciplined, long-term investment plan. This differs markedly from wasted efforts to chase the latest hot investment trends. Following is a description of some of the actions investors and their advisors can take to aggressively manage a passive approach.

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Spam e-mail making you lose your lunch?

In a recent survey, more than 70 percent of executives said that electronic mail has become the most important form of business communication, more important than even the telephone. E-mail is obviously an essential business tool, yet it is being seriously abused by “spammers” sending unsolicited and undesired mail.

Message Labs, an e-mail security firm, scanned 840 million e-mail messages in April 2004. Eighty-three percent of the messages were classified as spam, nearly double the ratio of 43.7% recorded in September of 2003.

What is spam? Spam is defined as unsolicited e-mail, or junk e-mail. It is an untargeted mass mailing promoting a product, service or company. Spam is almost always commercial e-mail, though it can include hoaxes or chain mail as well. While of questionable legality, spam is seldom welcome, and occasionally contains viruses.

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Take the Pill Free Challenge!

What if there was a pill that could actually stimulate the natural powers of the mind and body to provide effective leadership? That is the premise of The Leadership Pill, an entertaining, quick read by Ken Blanchard and Marc Muchnick. The authors don’t waste words; this book is very simple yet offers tremendous wisdom for today’s managers. The parable begins “one sunny day in Corporate America” with an announcement by Leadership Pill Industries (LPI) that a groundbreaking product has been developed that compresses all of the attributes of effective leadership into a single “magical” new pill. As you might expect, it catches on like wildfire, and the authors display a terrific sense of humor as they describe the sequence of events that follows.

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