Starting Your Own Business Does Not End Your Vacations

Find the Perfect Balance: How Business Owners Can Enjoy Well-Deserved Vacations

Helpful Tips

Find the Perfect Balance: How Business Owners Can Enjoy Well-Deserved Vacations Read More »

5 Tips to Be Productive Today

2 Comments / Helpful Tips

5 Tips To Be Productive Today

Everyone has had those days; no matter what you do, it's tough to feel productive. When it happens to me, I try not to stress too much but just follow my task list in order of priority and hope I'm not missing anything important! But what happens if one of those days hits you on a day that you absolutely need to be productive? Here are five tips that will help you get going and complete your necessary tasks.

Tip #1: Give Yourself a Deadline.

It’s easy to put something off when you have an open ended timeline or deadline. Instead, set a deadline to complete tasks on your list today. Set a goal to end your workday at a specific time and have everything done before then. A good trick is to add the task to your calendar and give it an allotted amount of time, just like you would a client meeting. Set a 5-minute warning, and if you find you need more time or there will be follow-ups, reschedule it later in the day if you have time available or later in the week if it can wait. This psychological trick will help you to get more done and allow you to have more time to enjoy your life instead of worrying about all you haven’t completed.

Tip #2: Get Your Body Moving.

Exercise is a four-letter word! Ok, maybe not for many of you, but seriously, I find it a chore, and I will admit, it often finds its way to the bottom of my list! Experts say that by exercising first thing each day, you’ll help your brain to get more oxygen and nutrients, and this boost of nutrition will help boost productivity throughout the entire day. But if you spend too much of your day sitting, the effect will fade. So here's my tip, get up every 30 minutes and walk for 5 minutes. Get your body moving. Bonus if you can go outside and soak up some vitamin D at the same time - walk up and down the driveway a few times; if you have stairs, take a few trips up and down the stairs, walk around your office or house - the point is to get at least 5 minutes of movement in (picking up your coffee cup multiple times does not count!) After a day or two of doing this, let me know in the comments how much your productivity picked up!

Tip #3: Avoid Multi-Tasking.

Many people think that being able to multi-task is a good thing. But in the end, it can actually mean that you’re not focusing on anything. Believe it or not, the human brain is not designed to multi-task, and by doing so, you are decreasing productivity, and you may not be getting anything done well. It can take our brains up to 25 minutes to get back into a work rhythm after we’ve been interrupted. When we multi-task, we switch quickly between tasks and never get into a rhythm, which kills our productivity and stresses us out needlessly. Instead, carve out specific times for specific tasks and focus only on them (See Tip #1). The phone and emails are often to blame for taking attention away. Try to set a specific time for returning phone calls and emails. You may want to schedule several times each day to do this, but don’t leave it open-ended.

Tip #4: Set a Timer for Tasks.

If you’re struggling to focus on getting something done, try setting a timer to focus on the task and then allow yourself to have a break. This can help you to break a task into smaller chunks and avoid the paralysis of feeling overwhelmed. For example, I had a pretty big project I was working on. I immediately broke it down into segments and fit it into my calendar, along with my other client tasks. The larger chunks of time, let's say 3 hours, I would set a 45-minute timer. I worked steadily for 45 minutes, then took a 15-minute break. I usually only needed about 10 minutes to stretch, walk around, grab some tea, etc.; the point is, I stayed focused and actually finished this project ahead of schedule! Here's an idea, use the timer trick along with Tip #2 to keep your body moving and your focus going!

Tip #5: Write It Down.

If you’re the type of person who gets sidetracked with brainstorms of new ideas (raises hand), it’s a good idea to write them down. Keep a pen and paper handy (or an electronic document file) so that you can write down your ideas. This allows you to put them down so you won’t forget them and get back to what you need to do. At the end of the day, you can look over your list and decide if you need to do anything with those brilliant ideas instead of taking time away from the rest of your day. My trick? Sticky notes! My desk is full of sticky notes! I'll be working on something, and a new idea pops into my head. I quickly jot it down on a sticky note, post it on my wall, and continue working. I may not always look them over at the end of the day, but I do set aside time once a week to review all my notes and decide which to keep and put into action.

5 Tips to Be Productive Today Read More »

Client Management Through Daily Planning & Organization

Accountants, Accounting Firms, Bookkeeping, Business, Customer Care, Goals and Business Planning, Helpful Tips, Time Management

Client Management Through Daily Planning & Organization

What do client management and daily planning have in common? For starters, they are two essential skills for any business professional. When done well, these activities can help you stay organized and on top of your work.

Effective client management is essential for ensuring successful productivity. To make sure all of your clients get the attention they deserve, here are some effective strategies you can use for daily planning & organization. Doing this will help you maximize your productivity and ensure swift service to all your clients.

Strategy 1: Establish Clear Goals and Objectives for Each Client

Establishing clear goals and objectives with each client is an important step in building a successful client relationship. Having clearly defined goals ensures that everyone is on the same page and helps to ensure that the project runs smoothly from start to finish. It also allows you to measure progress and success, as well as identify areas for improvement. By setting specific goals with your clients, you can help them achieve their desired outcomes in a timely manner. Furthermore, it will help you build trust with your clients and ensure that they are satisfied with the services provided.

Strategy 2: Use Automation to Your Advantage, Make Your Job Easier

Automated systems can be extremely beneficial for tracking client progress and scheduling appointments. With the help of a calendar app for clients, digital appointment scheduler, and workflow automation software, businesses can save time and money while providing better customer service. Automation also eliminates manual tasks that are time-consuming and prone to human error. By automating these processes, businesses can focus on more important tasks, such as creating content or marketing strategies. Automated systems also allow businesses to track client progress in real time, which helps them make informed decisions quickly. Additionally, automated systems provide an efficient way to schedule appointments with clients without any hassle or confusion.

Strategy 3: Stay Organized With Technology

Staying organized is essential for productivity and success. Setting priorities and utilizing technology are two of the best practices to help you stay organized. With the right task list manager app, you can easily create and manage tasks, prioritize them using various task prioritization methodologies, and track your progress. This will help you stay focused on what’s important and ensure that you don’t miss any deadlines or important tasks. By utilizing technology in this way, you can make sure that your daily tasks are completed on time and that you remain organized throughout the day.

Client Management Through Daily Planning & Organization Read More »

Get Out Of Your Head For Success

Business, Helpful Tips, Virtual Assistant News

Get Out Of Your Head For Success

Success in business stems from success in other areas of your life. You can’t really succeed to the extent that you would like to financially without making sure you’re up to par in other parts of your life, such as your mental state and physical fitness.

By keeping up with those parts as well, you’ll be much more well-rounded and able to succeed so much easier. Mental wellness is a very important aspect of your life and it’s extremely important for your success.

Mental health, for many years, was overlooked and not seen as a priority. A new term has emerged in recent years: “high functioning anxiety.” Although it is not yet a mental health diagnosis, it helps to describe something so many are experiencing. It has been shown that mental health is extremely important and is directly linked with your success in life.

You can’t go far in life when you’re struggling with things like anxiety because you’ll always be in your own head and unable to make the advancements you need for success. In her book, The Happier Approach, Nancy Jane Smith, walks people through how to get out of their head and into their body. Shifting your focus is sometimes just what you need!

In order to have a healthy mind, you need to give yourself time to relax and decompress, because, if you’re crowding your life with all work all the time, you’re going to get burnt out and start to dislike the job you’re doing. If you don’t enjoy what you do, it’s going to go downhill fast. You’ll put in less and less effort and you’ll never attain that success that you want.

Just as your mental well-being is important, so is your physical health.

Good physical health allows you to wake up each day feeling refreshed and ready to go, something that’s very important for your happiness and for your success. Being physically active and fit is good for your health, and it also helps you find happiness more frequently.

Keeping your body hydrated, properly nourished, and challenging yourself physically are the best ways to keep you in top physical health. I can hear you saying “but I don’t have time to workout”. Guess what, you really do have the time, you just need to find it.

“Workout, workout as hard as you can, and workout without excuses nor apologies. The discipline of tough physical training is obviously great for mental and physical strength, but over time, it also instills many more important lessons in a gradual and subtle progression. … It is the sheer effort but also the rest, nutrition and focus. These same skills, that are so important to our business and personal life, cannot become better engrained than through challenging training." --Itay Rosenfeld, CEO of Voxbone, a provider of Communications-as-a-Service (CaaS)

Without a healthy mental state and physical fitness, life can become a bit stale. Tracking progress in both of these categories is crucial. When you’re journaling or making notes about your day, talk about things that you’ve done to better your physical and mental health and be specific.

By keeping notes on your progress, you can tweak your methods in order to have better results, especially after seeing what worked for you and what didn’t. Everyone has different needs, so what might work for one person might not work for you. Find your balance.

Remember, as tempting as it is to only focus on success, you need to focus on all aspects of your life in order to truly be successful,. Take a look at 33 Daily Habits, which gives you simple, daily habits of successful entrepreneurs. There’s no fun in being financially well-off if you’re depressed and out of shape.

Get Out Of Your Head For Success Read More »

7 Tax Time Tips

Bookkeeping, Helpful Tips, Income Tax Preparation

7 Tax Time Tips

Prepare Now, No Stress Later

April 15^th will be here before you know it (March 15th for many small businesses). Start getting ready today with our FREE Tax Guide and Checklist. Preparing ahead of time for the filing of your income taxes can reduce your stress.

For many reasons, feelings of dread and the tax season seem to go hand in hand. Waiting until the last minute to file and scrambling to find your documents will only add to that sense of dread and elevate your stress levels. Follow these seven tips to get organized and file your taxes on time:

1. Collect all income related documents

W-2 Forms: If you held a job in 2023, you should have a W-2 for each job. Find the W-2s for each person in the household that worked. A W-2 contains your wage information and the various taxes that were withheld. Your employer is responsible for getting this form to you by January 31, 2024.

1099s: You should receive a 1099 based on the source of income such as NEC: contract labor, G: unemployment, MISC: school loans, gambling winnings, DIV: Dividends, INT: Interest Income.

1098: You can find payment information on your 1098 for items such as property taxes and school loan payments.

Other income-related documents and Information:

- Various income and interest statements from your bank or brokerage. Ensure you have a statement for each account.
- Bank account number: If you’d like your refund deposited into your account, you’ll need your account number and routing number. This information can be found at the bottom of your checks.

Be sure to review all the forms and information. Is everything accurate? It’s not unusual to find a mistake or two. Take the time to review all documents with a fine-tooth comb!

2. Collect all paid receipts

Collect any work-related receipts for anything you purchased for your job and didn’t receive reimbursement. If you are self-employed, the list of qualifying items is likely to be much longer. Computers, furniture, marketing expenses, and utilities are all viable deductions for the self-employed. Using a Profit & Loss (Income) statement during the year is a great way to keep it all organized. Bonus: you can track your monthly cash flow at any point and adjust your goals as necessary.
Hiring a bookkeeper will take the burden off your plate, and in many cases, it's tax-deductible!

3. Collect proof of energy-efficient improvements

Did you make any energy-efficient improvements during 2023? You may be able to take a credit of 30% of the cost, limited to $500. Items like insulation and energy-efficient doors and windows qualify. Have your receipts handy.

4. IRA/Retirement Documents

Collect proof of your IRA contributions. Cancelled checks or the brokerage statement are ideal. Your employer will provide your 401(k) contribution information.
You will also need any payouts you received such as lump-sum distributions. You might have gathered this with your income related documents, so go ahead and put it in a separate pile. This type of distribution is not considered income, but may still be taxable.

5. Social Security Documents

Collect social security information for everyone in the household you will be claiming on your return. The social security number is required to ensure that each child/dependent is only claimed once. If you have a young child, it might be necessary to apply for a social security number. IMPORTANT: You must have a social security number for all dependents before any applicable tax credits will apply. This includes credits such as Earned Income Credit (EIC), Child/Dependent Care Credit, and Child Tax Credit.

6. Charitable Donations

Collect information regarding charitable donations. It’s becoming more important with each passing year to be able to detail and substantiate your charitable donations. Receipts are especially important. Taking pictures of donated items isn’t necessary, but recommended. Cancelled checks and credit card statements are also important.

7. Review Last Year

Review last year’s tax return. Last year’s return can be useful. You might find a carry forward from last year that should be applied to your current tax return. This is especially true for business gains/losses and depreciation.

Filing taxes doesn’t have to be a stressful process. Organization is the key. Keep track of your important documents and receipts. Take pictures of items you’re donating.

Make next year better than this year. After your return is filed, develop a system to manage your documents and receipts for next year. Choose a place to store everything you’ll need for the next time. A small amount of preparation can make everything easier in the future. When tax season rolls around, you’ll be ready to go!

7 Tax Time Tips Read More »

Effective Daily Planning: Getting Things Done

Accountants, Accounting Firms, Business, Goals and Business Planning, Helpful Tips, Time Management

Effective Daily Planning: Getting Things Done

It's no secret that the world is a fast-paced place. We're constantly inundated with new information, technology, and change. For many Accountants and CPAs, this pace can be overwhelming. If you don't take the time to plan your days, you can easily lose focus and become less productive. This can lead to even more stress and anxiety as you try to play catch-up.

Not planning your day can lead to missed opportunities and goals and can hurt your client relationships.

Learning to be more productive in your everyday life is important to combat this. And while there are many different ways to increase productivity, one of the most important is learning how to effectively plan out each day.

First, you must define what "done" means to you and your staff if planning their day. Knowing your "done" will help you plan realistically (and stop when it's 'done' – no perfectionism allowed). This may mean setting a daily or weekly goal for what you want to achieve. For example, if your goal is to complete your continuing education plan, "done" could mean completing two hours daily. If your goal is to engage more with your followers on social media, "done" could mean posting and interacting three times a week. Once you clearly understand what "done" looks like, you can start to really plan your days.

Next, you must decide what end results would make the day a success for you and your team. This will help you focus on what's truly important and let go of anything that isn't. This step involves really thinking about what you want and need to achieve. If you don't know what results you want, it's pretty hard to plan your day effectively!

The next step is to break down those desired results into tasks - the actions you need to take to make the day a success. Be mindful of what you choose to prioritize, you don't want to waste time doing tasks that won't help you achieve your daily goals. This is also a great time to note any tasks that you can delegate to your virtual assistant to lighten your load.

Planning and Preparing

Now that you've decided what "done" looks like, selected your goals for the day, and broken them down into tasks, it's time to start planning and preparing.

What does that look like? For many, it involves planning out times throughout the day for specific prioritized tasks. Start with the most important tasks first.

Part of the planning process also involves preparing. Ensuring you have all the necessary resources is an important piece of the productivity puzzle. Try sketching out a general plan for the week in advance and list the resources you need to obtain or access for each task. Especially if it’s something you need from someone else or if you need to provide it to a staff member so they can do their task. Preparing in advance allows time for you to get all of those things together.

Another part of the process is to plan ahead. Use a weekly or monthly planner in addition to the daily plan. Planning ahead allows you to allocate your time appropriately to achieve your goals. If you want to complete a large number of work tasks, but you also have several doctor appointments, meetings, kids’ activities, etc., scheduled that week, you’ll quickly see that you do not have as much time as you thought and you can prioritize tasks accordingly.

Bonus tip: Publishing the company's weekly or monthly plan also helps your staff better plan their day!

You can also use productivity technology that's available to you to make your tasks easier. Many tools are available today that can automate processes or at least make them simpler or faster to complete. Digital planners, Google Calendar, productivity apps, AI tools, scheduling tools, etc., are all technology resources you can utilize to make your life (and work!) easier. Don’t get so caught up in finding the “perfect” technology to use either – the best tools are the ones you will use consistently.

If you are not as productive as you think you should be or if your staff hangs out more at the water cooler, using a strategy like the ones shared above can be an excellent way to get things done by focusing on the goals and tasks most important to your accounting firm. And finally, check your plans often to ensure they match your goals and adjust when necessary. What works in the summer months may not be realistic during Tax season.

Effective Daily Planning: Getting Things Done Read More »

What Is Your Time Vampire?

Accounting Firms, Business, Goals and Business Planning, Helpful Tips, Time Management

What Is Your Time Vampire?

Part I of our Time Management Series

One of our most valuable resources is time. In fact, in some ways, time is the only limited resource. Every person has the same time each day to accomplish whatever it is that they desire. On average, most people have approximately the same number of years of life to achieve all that they want too.

If that’s true, why do some people seem to get a fantastic amount accomplished, while others seem to lack time to do the same, even given the same time to get things done?

The truth is that many people sabotage themselves when it comes to being productive. They waste time without even thinking about it, in ways that do not notice, and then wonder how they’ll ever be successful with the limitations given to them.

The first thing to do to eliminate time wasters in your life is to recognize them for what they are and how they affect your life. Once you identify what is wasting your time, either delegate the task or item or eliminate it. That sounds easy, but some things may be more challenging to identify than others.

Grab a pen and paper, find a quiet place, turn off your phone – set up a no distraction zone, and find your time vampires.

Be Honest About How You're Spending Your Time

You’ll need to get real with yourself. It’s so easy to say that you don’t have time for things, but how much time are you really spending on Facebook, watching TV, surfing the Internet, gaming, and doing things that do not lead you toward meeting your responsibilities and realizing your life’s goals? Can you spend your time better? Absolutely!

What is a Timewaster?

For most people, time wasters are apparent. They consist of activities like watching TV, surfing social media, playing games, and doing things that get in the way of productivity haphazardly. For others, they may need to dig to figure out where they’re leaking time. For example, is a friend calling you every day and talking to you an hour or more? Does a co-worker stop by your desk for “one quick question” that turns into a 30-minute chat session?

Even things that seem significant on the surface, like talking to your co-worker, can end up becoming a time sucker if you are allowing it to get in the way of your overall schedule. Write down any item that you think might be a timewaster.

Do you procrastinate on this task?

Now let’s look at some tasks at which you tend to procrastinate. Make a list of them without any judgment. Right now, don’t deem them as timewasters or essential tasks. If you tend to put it off, or often don’t do it until the last possible minute, or even at all (even when it’s needed), write it down.

The truth is, most of the items you procrastinate about are going to be timewasters, but they might not be something you think of immediately as a timewaster. Of course, you must pay your bills, but if you put it off, pay them late, do it last minute, and aren’t scheduling and organizing, you’re wasting time someplace.

What Bottlenecks can you Identify?

Look at a day, or a week, of your life. Write down any times of the day that seem overwhelming in terms of the time you have available versus what you need to accomplish. For example, are you having trouble preparing healthy meals on practice nights? Are you missing deadlines to submit work to clients? Do you often feel rushed and overwhelmed? Write down each time that happens during the week that you monitor.

Each situation needs to be analyzed so that you can figure out how better to accomplish your tasks. For example, on practice nights, eat leftovers for dinner, such as leftover turkey wraps that can easily be thrown together in 15 minutes and eaten with the hands.

Are You Losing Track of Time? Why?

During some portions of your day, you may find that you’re losing track of time when you’re doing those things. For example, some people lose track of time while surfing on the internet, or social media. They’re looking for a 30-minute recipe to cook their favorite meal, but they get sucked into the internet, and it takes an hour or two to find the recipe.

Other things might be less noticeable. However, if you think something takes 30 minutes to do and it really ends up taking an hour or more to do, you’re either losing track of time for some reason, or it really takes longer, and you’ve scheduled incorrectly.

Can You Identify an Outside Source That's Distracting You?

Some timewasters almost seem as if they’re utterly uncontrollable because they come from outside sources. They can be family, friends, colleagues, and bosses, and others, causing the issue for you. Identify these issues for yourself. Once you realize what’s happening, start setting boundaries, or find a way to work around the person or thing distracting you.

People really cannot multitask/ Our brains are simply not wired for it; we just think we can. If you have set aside time to journal each night to become more thankful, you may be wasting time by keeping the television on while doing it. However, knitting a birthday sweater while you watch TV might work out great. The only way to know whether you’re more productive without multitasking or not is to try doing things without multitasking and time yourself.

What Is and What Is Not Getting Done?

Believe it or not, sometimes, the things that are getting done don’t even need to be done and get in the way of you getting important things done.

Make a list of things and tasks that are and are not getting done. What was the purpose of the tasks you completed? Were they a part of your plan, or did you get sidetracked? What about the tasks not getting done at all by you or anyone due to being overlooked. Put all these in order of importance. If you want them to get done, put them at the top of the list. If they don’t matter in the scheme of things, put them at the bottom, and then eliminate them.

Time Vampires

Let's talk about a few of the typical time vampires that you probably want to work on stopping right now. You'll likely find more as you work toward discovery in your situation, but most people can agree that the following are common time suckers that you should stop doing now.

Not Setting Goals

The very first thing you should do is to set goals based on your morals and values for your entire life. Set life goals for your life psychologically, physically, and spiritually in each area of your life, including personal, relationships, and work. For example, if you want to be healthy, you’ll need to set healthy eating goals, healthy exercise goals, and so forth, according to the results you desire.

Once you have set your goals, you need to look hard at the tasks you perform and ask yourself:

Does this task align with my goals?

If you feel any resentment at all about a task, it’s important to ask yourself questions about your goals and how the task helps or does not help.

What deliverable will result from doing this task?

When you do this task, what is the result of doing it?

Does doing this task move me closer to my goals? How?

All of us can be guilty of doing busy work in life. By asking how the task moves you nearer your goals, you will find you can eliminate most busy or filler work. If the task is not moving you toward your goals, and you can do it another way, you should examine that other way to figure out if it’ll work for you. A task that many can identify with is going to meetings. So many meetings are useless and time vampires.

Not Planning and Scheduling What’s Important to You

Once you have identified what’s important to you, it’s essential to create a plan and make a schedule of the steps in chronological order of what you need to do to get to success and reach your goals in the time frame you’ve set up for yourself. For example, if you believe it’s important to eat dinner with the family four nights out of seven, what are you doing to ensure it happens? Likewise, if you want to publish an 80,000-word novel by December, what do you need to do to get there?

Lack of Organization and Systemization

One reason people don’t reach their goals promptly has to do with not organizing based on the actual amount of time you have to do the tasks. If you want dinner on the table at 7:00 pm each night, plan the meal carefully, consider the time it takes for prepping, cooking, and setting the table.

Plus, not creating systems with automation in place is a huge time sucker. For example, there is no reason to spend hours paying bills each month when you can automate the process via your bank. You can even organize and systemize family dinner by assigning each person a task to do that ends up with dinner being on the table by 7:00 pm in a realistic manner.

Not Delegating and Always Doing Everything Yourself

Whether you’re a stay-at-home parent, a salary earner, or an entrepreneur, you can’t do everything yourself. It’s imperative to your future that you learn to delegate and stop trying to do everything yourself. There are people in your life that can help you, and if you don’t have those people yet, you can find them.

Ask yourself: What is the point of doing this task? What is the reason you’re doing it? Assess every task to decide whether you need to do it yourself, or you should let someone else do it.

Delegate any task that you do not need to do specifically. Underline any task that you can transfer, even if you don’t think you know who to ask or you don’t think you can afford it. Just note the ones that you can delegate.

Not Setting Boundaries and Saying Yes Without Thought

This is usually related to being a people pleaser, too. Some people call these people “yes” people. You see them in every single PTA, Church Group, Office, and volunteer opportunity. Some may see this person as the “go-for,” who gets things done for others. These people are often stressed, overwhelmed, and have low self-esteem.

Many people-pleasers say yes to every single ask of them without even thinking. This is a huge time vampire because there is no reason why you need to say yes to everything. First, weigh the things people ask you to determine if it’s worth being involved or not. An excellent way to decide is to have criteria for saying yes.

Ensure that doing this will get you closer toward your goals in each life area. Check your calendar to be sure that you do have the time available before saying yes. Say yes with enthusiasm or no without guilt.

Now take a look at your own life and start identifying time vampires. Only you can truly determine what a time sucker is and what is not. Spending five minutes on social media is a time suck for some people, but it might be how you schedule your downtime. It’s your time, so if you can reach the goals you set for yourself, you can choose what tasks you want to do and what responsibilities you don’t want to do.

Tell us what your Time Vampires are in the comments.

Use the workbook along with the other guides in this series to take control and manage your time.

Part I – What Is Your Time Vampire

Part II – 12 Steps to Vanquish Your Time Vampires

Part III – Improve Focus and Productivity for Better Time Management

Part IV – The Truth About Procrastinating

What Is Your Time Vampire? Read More »

Anatomy of a Data Breach

Accountants, Accounting Firms, Business, Cybersecurity, Helpful Tips, Online Security, Tech and Security

Anatomy of a Data Breach

Arguably no phrase has dominated the tech world in the last 24 months more than the term "data breach." The past two years have been saturated by headlines of cybersecurity mishaps, from breaches that have impacted critical infrastructure like the Colonial Pipeline to hackers compromising healthcare records at UC San Diego Health. Yet, despite the prevalence of the breach-centric news cycle, many everyday individuals may not know what a data breach is, how they typically start, and why they occur.

According to IBM, the average time it takes to identify that a breach has occurred is 287 days, with the average time to contain a breach clocking in at 80 days. And with 81% of businesses experiencing a cyberattack during COVID, individuals must be familiar with the anatomy of a data breach to keep their data and their client's data safe.

With that in mind, here is some helpful background on data breaches and why they are so problematic.

What is a data breach?

While it may seem complex, a data breach is straightforward to explain once you clear away the jargon fog. According to Trend Micro, a data breach is "an incident where information is stolen or taken from a system without the knowledge or authorization of the system's owner." And while data breaches can result from a system or human error, a vast majority of data breaches result from cyber attacks, where a cybercriminal gains unlawful access to sensitive system data. For example, 92% of the data breaches in Q1 2022 resulted from cyberattacks.

What kind of data can be breached?

Unfortunately, cybercriminals look to get their hands on any information they can, ranging from more sensitive information such as social security numbers and credit card information to more obscure data like past purchase history.

What are some of the tactics used to execute data breaches?

Cybercrime is getting more sophisticated each day. However, cyberattack tactics do not have to be cutting-edge or advanced to be effective. Here are a few examples of popular tactics used by cybercriminals:

Phishing: Phishing is when a cybercriminal pretends to be a legitimate party in hopes of tricking an individual into giving them access to personal information. Phishing is one of the oldest tricks in the book for cybercriminals, but it is just as effective as ever. For example, 80% of security incidents and 90% of data breaches stem from phishing attempts.
Malware: Another tried-and-true method for cybercriminals is malware. Malware is malicious software that secretly installs itself on devices – often by a user engaging with fake links and content – and quietly gains access to the data on an individual's device or a business network.
Password Attack: Through password attacks, cybercriminals seek access to sensitive data and networks by "cracking" user passwords and using these credentials to get into networks and extract data from a given network.

The best way to stop a data breach is to stop it before it even starts. This includes taking steps from making sure passwords are long and complex to reporting all suspicious emails. If you suspect you have been the victim of a breach, immediately contact your IT department or device provider to notify them and follow subsequent protocols to help them scan, detect, and remediate any issues.

For more information on protecting your data, your client’s and your family, visit our Cybersecurity page.

#BeCyberSmart

LEARN HOW TO PROTECT YOU AND YOUR CLIENT

Anatomy of a Data Breach Read More »

4 Easy Steps to Keep You Secure

Accountants, Accounting Firms, Business, Cybersecurity, Helpful Tips, Online Security

4 Easy Steps to Keep You Secure

Cybersecurity has become one of the biggest hot topics inside and outside technology circles over the last two years. From securing learning devices due to a rise in digital learning during the COVID-19 pandemic to coping with the fallout of high-profile breaches of national infrastructure such as the Colonial Pipeline, there is a seemingly endless news cycle dedicated to cybersecurity mishaps and concerns.

And with this onslaught of negative news, it can be easy for everyday individuals to become overwhelmed and feel powerless in the face of the “insurmountable” threats posed by cybersecurity. But in actuality, nothing could be further from the truth.

With all of the jargon that is typically thrown around about cybersecurity, there is a longstanding misperception that cybersecurity is beyond everyday people and that it should be left to professionals. Moreover, there is a prevailing sense among the public that breaches are simply a fact of life and that we should just learn to deal with them. But this just isn’t true. In fact, everyday people have a huge role to play in cybersecurity threat prevention, detection, and remediation. For example, according to IBM, 95% of breaches have human error as the main cause. Therefore, everyday technology users are very much the first line of defense when thwarting cybercrime. Unfortunately, many individuals are unaware of some of the best practices for boosting cybersecurity and how easy they are to use.

With that, here are a few key best practices that everyday people can implement today to enhance their own cybersecurity and create a more secure world for everyone.

Watch Out for Phishing

Phishing – when a cybercriminal poses as a legitimate party in hopes of getting individuals to engage with malicious content or links – remains one of the most popular tactics among cybercriminals today. In fact, 80% of cybersecurity incidents stem from a phishing attempt. However, while phishing has gotten more sophisticated, keeping an eye out for typos, poor graphics, and other suspicious characteristics can be a telltale sign that the content is potentially coming from a “phish.” In addition, if you think you have spotted a phishing attempt, report the incident so that internal IT teams and service providers can remediate the situation and prevent others from possibly becoming victims.

Update Your Passwords and Use a Password Manager

Having unique, long, and complex passwords is one of the best ways to immediately boost your cybersecurity. Yet, only 43% of the public say that they “always” or “very often” use strong passwords. Password cracking is one of the go-to tactics that cybercriminals use to access sensitive information. And if you are a “password repeater,” once a cybercriminal has hacked one of your accounts, they can easily do the same across all of your accounts.

One of the biggest reasons that individuals repeat passwords is that it can be tough to remember all of the passwords you have. Fortunately, by using a password manager, individuals can securely store all of their unique passwords in one place. Meaning, you only have to remember one password. In addition, password managers are incredibly easy to use and can automatically enter stored passwords when you visit a site.

Enable MFA

Enabling multi-factor authentication (MFA) – which prompts a user to input a second set of verifying information such as a secure code sent to a mobile device or to sign-in via an authenticator app – is a hugely effective measure that anyone can use to drastically reduce the chances of a cybersecurity breach. In fact, according to Microsoft, MFA is 99.9 percent effective in preventing breaches. Therefore, it is a must for any individual that is looking to secure their devices and accounts.

Activate Automatic Updates

Ensuring devices are always up-to-date with the most recent versions is essential to preventing cybersecurity issues from cropping up. Cybersecurity is an ongoing effort, and updates are hugely important in helping to address vulnerabilities that have been uncovered as well as in providing ongoing maintenance. Therefore, instead of trying to remember to check for updates or closing out of update notifications, enable automatic update installations whenever possible.

#BeCyberSmart - Click here to take our quiz and find out how cybersmart you are!

4 Easy Steps to Keep You Secure Read More »

10 Tips to Keep Your Online Environment Safe

Cybersecurity, Helpful Tips, Online Security, Tech and Security

10 Tips to Keep Your Online Environment Safe

There are a lot of new opportunities for hackers. New ways to enter your business or home virtually and steal your data, your clients data, your personal information, and even spy on you! You can protect yourself significantly just by following these ten tips.

1. Stay Off Public Wi-Fi

Public Wi-Fi is not secure and is a hacker's playground. They can set up a look-a-like network, hoping you'll connect to it, they can intercept your data, and even create fake Wi-Fi access points. Once you've connected to their network, they can see what you see—going to check your balance in your checking account? And now, they have your password and account information. They can also get any information you have stored on your device. When you're out of the house and need to connect, it's always better to use your service provider's network. There may be a fee, but what is your data worth to you?

2. Use a VPN

Maybe you're in public often and rely on public Wi-Fi? If so, I suggest signing up for a virtual private network (VPN) to ensure your data is safe on an unsecured network. Many VPN providers have free trial periods. TechRadar lists the Best VPN Services in 2022. Your Internet Service Provider may also have a VPN service as well.

3. Best Router Practices

I really wish router manufacturers would require manual set up rather than being ready-to-use right out of the box. The default router settings are very common, it's like using "password" for your password. We'll talk about that later. So what are some of the things you can do to make your router secure?

Rename the admin account and change the password
Create a unique network name (SSID), do no use the default name
Turn on encryption, use WPA2
Hide your network from anyone doing a random search
Place your router in a central location, away from windows and doors, and exterior walls.

4. Use Complicated Passwords

Avoid simple passwords. Using “password” might be easy for you to remember, but that is the first word a hacker will try. Most sites now require a combination of upper and lower case letters, numbers, and special characters. Creating a complicated password is a good rule of thumb, even if the site doesn’t require it. In general, a good password is at least eight characters long, but the longer, the better. The best password is 25 characters. Another good practice is to form a password from a phrase. For example, you can create t1$!C4gtMpSd from “This is so I can’t forget my password.” You can use multiple methods to help you form unique and cryptic passwords.

5. Use a Firewall

Most routers will contain a built-in firewall that will protect and prevent any network attacks from intruders. The default setting is typically disabled, so be sure to confirm that your router's firewall is on.

6. Keep Security Software Updated

Just like technology moves at a fast pace, so does malware. Your Anti-Virus and malware software is only as good as the latest update. If you are not updating regularly, you are putting your computer and any other device on your network at risk. I recommend setting a schedule for the updates to run, preferably during non-peak usage times, as they can be resource-heavy.

7. Protect All Connected Devices

Your computer is not the only device at risk. Keyloggers, spyware, viruses, etc. can also infect your smartphone, Xbox, Playstation, tablet, iPad, pretty much anything connected to your network is at risk and must be protected.

Ensure all devices are behind your home router/firewall to protect them from unrestricted access from the Internet.

8. Scan External File Storage

Run your anti-virus scan on all USB drives and other external file devices before you open any files. Keyloggers are often passed on by a thumb drive. You open the infected file and it secretly installs on your computer and sends every keystroke to the hacker.

9. Look for the S

Always make sure you are on a secure site before transmitting any personal or sensitive information. Just look at the address bar for the locked padlock, and make sure the website address has an S. For example, http://notsecure --> https://secure

10. Backup! Backup! Backup!

Perform regular backups. How often you schedule the backup to run depends on how often you make changes or add files. Having a backup is not just good common sense, but it can save you a lot of time and trouble should you ever be faced with a ransomware attack. I store all my backups in the cloud, and on an external drive. I do a full back up monthly, and nightly file backups. Take it from someone who has lost all their information, it can happen to you!

Did you know that every single year, about 70% of the US population experiences SOME form of cyber-attack. The truth is, 99% of computers ARE vulnerable to cyber-attacks.

Click here to take our quiz and find out how cybersmart you are!

10 Tips to Keep Your Online Environment Safe Read More »

Don’t Rush Into Business! Slow Down and Do This First

Business, Goals and Business Planning, Helpful Tips, Sales and Marketing

Don't Rush Into Business!

Slow Down and Do This First

Everybody wants it now. We live in an instantaneous world – news reaches millions of people as it's happening. Gone are the days of waiting a week for a letter. I remember writing my cousin and then waiting for her return letter, which was always at least two weeks. Do you remember seeing something you had to have in a magazine and ordering it – 6 to 8 weeks delivery time! So be honest, with online ordering and same-day delivery options, we only begrudgingly accept delivery of over two weeks if that's the only option we can find. Many, myself included, will check Amazon first for our wonderful "Prime one day" shipping. I recently saw an ad for a cute animated pumpkin, and rather than go to their website, pay $15.99 shipping and handling, and have it take 2-4 weeks to deliver, I found it on Amazon, and my daughter received it two days later.

I do have a point to make. Many of today's start-up companies and existing businesses have the same mindset. We all want a successful, thriving business with clients lined up around the block, and we wanted it to happen yesterday. Let me pause this thought and tell you I have almost zero patience. I can probably think of over a hundred things that are longer than my patience, such as the time it takes for an embarrassing Tik Tok to trend! My mother would always tell me to have patience, "good things come to those who wait," and that brings me back to my point. A successful business, a trusted accounting firm, or a top dog Realtor does not happen overnight. It won't even happen in a week or 30 days, but if you work at it and start at the beginning, it will happen.

"If you build it, they will come."

I have had five businesses, of which only one is successful. I attribute that to my awesome coach, Tawnya Sutherland, who grabbed my reins and pulled me back. I wanted immediate success. I would get an idea in my head, and I wanted to see it come to fruition yesterday! That is the only reason my other businesses did not survive. I jumped right in without planning and went up the creek without a paddle. I almost did that with TASK Virtual Assistant! But I slowed down and worked on a five-year plan. Let me share some tips to help you build your plan:

Create a Business Blueprint

There are a TON of resources on business plans, business goals, start-ups, etc., so I will not get into the how's. But just like an architect needs blueprints before building a house, so do you before building your business.

Your blueprints should "draw" out:

Product and service development – What is it that you bring to your market? What purpose did you go into business to fulfill? Jennifer Todd, owner FutureView Advisory and FutureView CPA asks, "Are you selling the right thing?"

The definition of a business person is someone who solves problems for others at a profit.

Marketing and Sales - This is easily the most essential part of any successful business. You may have the most remarkable invention on the planet, but if you lack marketing and sales, you are setting yourself up to fail in business.

Learn About Your Target Audience and Industry

The more you understand who you are marketing to, the better you can convert them into paying or loyal customers. Interact with them on social media and ask for feedback after they purchase your products, services, or content.

Be Ready For Financial Setbacks

I was always told not to expect a profit in the first five years. Educate yourself regarding business finance. This includes paying yourself and the costs to create content, accounting systems, other tools, and much more. A poor grasp of finances is one of the most common reasons businesses fail, which is why you should set it up correctly and find the appropriate funding before you start.

Know Your Wants, and Don't Wants

You would think that with all of the opportunities, technology, and variety available in the world today, people would have an easy time defining what they want. Unfortunately, the opposite is actually true. Our world has become so fast-moving and hectic that many people have lost touch with themselves and what is important to them. When asked, many will quickly respond with a quick (and immediate) want: "I want my mortgage paid off."

List out a few wants and don't wants, then write out WHY next to each one. This exercise will help you when it comes time to create your mission and vision statements.

I cannot guarantee that by following these tips you will see a five-digit income or that your accounting firm will hit the Forbes Best Tax and Accounting Firms, but I do know that without a plan, you will not grow your business.

Don’t Rush Into Business! Slow Down and Do This First Read More »

Helpful Tips

Know The Signs Of Burnout

Weakened immune system, frequent illnesses

Feelings of cynicism, detachment, or apathy

Do You Need A Helping Hand?

My family often sacrifices their lifestyle to help me succeed.

Find the Perfect Balance: How Business Owners Can Enjoy Well-Deserved Vacations

Do You Need A Helping Hand?

My family often sacrifices their lifestyle to help me succeed.

5 Tips To Be Productive Today

Client Management Through Daily Planning & Organization

Strategy 1: Establish Clear Goals and Objectives for Each Client

Strategy 2: Use Automation to Your Advantage, Make Your Job Easier

Strategy 3: Stay Organized With Technology

Get Out Of Your Head For Success

7 Tax Time Tips

7 Tax Time Tips

Prepare Now, No Stress Later

1. Collect all income related documents

2. Collect all paid receipts

3. Collect proof of energy-efficient improvements

4. IRA/Retirement Documents

5. Social Security Documents

6. Charitable Donations

7. Review Last Year

Effective Daily Planning: Getting Things Done

What Is Your Time Vampire?

Part I of our Time Management Series

Be Honest About How You're Spending Your Time

What is a Timewaster?

Do you procrastinate on this task?

What Bottlenecks can you Identify?

Are You Losing Track of Time? Why?

Can You Identify an Outside Source That's Distracting You?

What Is and What Is Not Getting Done?

Time Vampires

Not Setting Goals

Does this task align with my goals?

What deliverable will result from doing this task?

Does doing this task move me closer to my goals? How?

Not Planning and Scheduling What’s Important to You

Lack of Organization and Systemization

Not Delegating and Always Doing Everything Yourself

Not Setting Boundaries and Saying Yes Without Thought

Anatomy of a Data Breach

4 Easy Steps to Keep You Secure

10 Tips to Keep Your Online Environment Safe

Don't Rush Into Business!

Slow Down and Do This First

Create a Business Blueprint

Learn About Your Target Audience and Industry

Be Ready For Financial Setbacks

Know Your Wants, and Don't Wants