Author: Donohoo Accounting Services

5 Easy Ways to Improve Your Productivity

Between juggling meetings and managing all your tasks do you find it difficult to find time to get down to work? Do you feel overwhelmed by your ever-increasing to-do list? Increasing your productivity would make things easier but where do you start? Finding time to research the most effective strategies and tips for becoming more productive doesn’t have to be penciled into your planner and is easier than you think. These five easy ways to improve your productivity can be implemented in no time so you can improve your workflow and take the stress out of your workday.

Plan Your Work Day

You may think to yourself “I already make a to-do list” but a list of daily tasks is different than planning out your day. It can be done easily first thing early in the morning, planning your day involves scheduling daily goals and creating a timetable for completing them. By setting aside a specific time each day to focus on specific projects and tasks you’ll find your productivity increasing.

Stop Multitasking

While multitasking may seem like the only way to get everything done, it can actually hurt our productivity and can even be bad for our health. Rather than try and get everything done at once, focusing on one task at a time can greatly increase our ability to complete projects and other work. Prioritizing and organizing your work helps you stick to your timetable and meet your deadlines.

Follow the “Two-Minute Rule“

Believe it or not but small windows of time at work can be an optimal time to get work done. The “two-minute rule” helps you increase your efficiency by taking advantage of this time on a simple principle – if the task is something you know you can get done in two minutes or less, do it immediately. Not only will it be one less thing on your to-do list, but it takes less time than having to revisit it later.

Breakdown Big Projects

It’s easy to get stressed out thinking about taking on big projects, but breaking them down into smaller easily managed tasks can help you take them on without feeling overwhelmed. By approaching these large projects one piece at a time allows you to take more control over your workload and feel more productive.

Take Breaks

Working harder may seem like the solution to tackling your workload, but taking regular breaks will actually help you increase your productivity. Whether it’s a quick stroll around the office or stepping out for a cup of coffee, a break away from your work can help you focus and improve concentration.

Increase Your Productivity With Financial Help From Donohoo Accounting Services

At Donohoo Accounting Services, we have more than 20 years’ experience in helping clients resolve their tax and financial issues. Whether you’re looking for income or payroll tax help for your corporate, private or non-profit business, you can trust the local professionals at Donohoo!

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Five Best Credit Cards for Your Small Business

Using a business credit card can help small business owners easily track and record their monthly business expenses. Business credit cards also offer convenience to business owners and their employees by providing a cash-free means of paying for everyday expenses including making online purchases. However, having so many credit card options available to small businesses, how can you know which ones make the most sense to use? And which provide the most benefits without racking up lots of fees? To help you narrow down the choices, we’ve selected the five best small business credit cards that are worthy of your consideration.

Chase Ink Business Preferred VISA

Especially if travel is an essential part of carrying out your business, then the Chase Ink Business Preferred VISA just may be the credit card for you. This card offers 80,000 bonus points after making purchases totaling $5,000 or more in the first three months. Points are worth 25 percent more when redeemed for travel through Chase’s Ultimate Rewards program. The annual membership fee is $95.

CapitalOne Spark Cash for Business

For businesses that have a high volume of monthly expenditures, the CapitalOne Spark Cash for Business card’s unlimited 2 percent cash back rewards may pay big dividends. For new cardmembers, you’ll earn a one-time cash bonus of $500 when you make $4,500 in purchases in the first three months. The $95 annual membership fee is also waived in the first year.

American Express SimplyCash Plus Business

If keeping your monthly credit card balance low is a priority, consider the American Express SimplyCash Plus Business card for your small business. This card’s cash back rewards can be applied to your card balance in the form of a statement credit. Additional benefits include a 0 percent introductory APR for your first 9 months and a $0 annual membership fee.

Bank of America Business Advantage Travel Rewards World Mastercard

Another favorite credit card among small business owners who travel is the Bank of America Business Advantage Travel Rewards World Mastercard. Cardholders earn unlimited 1.5 points for every dollar spent and 3 points per $1 spent on travel arrangements booked through BoA’s Travel Center. Other incentives include 0 percent introductory APR for the first 9 billing cycles, no annual membership fee and no fees on international transactions.

Costco Anywhere Visa Business Card by Citi

Business owners who purchase their supplies in bulk or buy inventory items for resale from Costco may prefer the Costco Anywhere Visa Business Card by Citi. Cardholders earn cash back rewards of 1 to 4 percent (based on purchase types) that can be redeemed for merchandise — or as cash back — at any U.S. Costco warehouse. There are no foreign transaction fees on purchases and no annual membership fee with a paid Costco membership.

Contact Cincinnati’s most trusted small business accountant, Donohoo Accounting Services, by calling 513-528-3982 or email us today. For more than 20 years, we have helped small business owners like you wisely manage their business finances. And don’t forget to check us out on Facebook, Twitter or LinkedIn for our latest updates!

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Five Best Personal Credit Cards

The personal credit cards of today are not your father’s credit cards. By far, 21st-century personal credit cards tend to offer a variety of benefits to consumers that provide convenience and discounts not offered by paying cash or even with the use of a debit card. And while personal credit card offers abound – online and in your mailbox – five of the best personal credit cards are outlined for you here.

Capital One Quicksilver Cash Rewards Credit Card

While this credit card’s TV commercials and marketing tagline are popular, some features that make it popular among consumers include unlimited 1.5 percent cash back on every purchase made, no annual fee, and a one-time $150 cash bonus when you accrue $500 in purchases during your first three months as a cardholder. Additionally, the 0 percent introductory APR for 15 months applies to both your account balance and balance transfers.

Wells Fargo Propel American Express Card

If you’re a person about town, you can rack up triple points (to earn discounts or “miles”) when you eat out, use rideshares and transit, buy gas and use eligible streaming services. All other purchases earn 1 point per dollar. Additional advantages include 30,000 bonus points upon making $3,000 in purchases within three months, 0 percent introductory APR for 12 months, cell phone protection and no annual fee.

Chase Sapphire Preferred Card

To satisfy the traveler in you, the Chase Sapphire Preferred Card gives you double points/miles on travel purchases such as airfare, hotels, dining and transportation; all other purchases earn one point per dollar. When you make $4,000 in purchases within the first three months, you’ll earn 60,000 bonus points. No fees on foreign transactions. The annual membership fee is $95.

Discover it Cash Back

For those who prefer getting cash back on their purchases, the Discover it Cash Back credit card offers up to 5 percent cash back on purchases made at grocery stores, gas stations, restaurants and Amazon.com. You’ll also tally 1 percent cash back on all other purchases. As an added bonus, Discover will match all the cash back you earn at the end of your first year as a cardholder – with no limit. That’s free money! You can also transfer balances at the introductory APR of 0 percent for 14 months. This card has no annual fee.

Citi Double Cash Card

The Citi Double Cash Card offers a unique way of rewarding you not only for using the card for purchases but also for making your monthly payments. You can earn 2 percent cash back on all purchases: that’s 1 percent when you buy and another 1 percent when you pay. There are no expense categories to track, no caps on cash back and no annual fee. The introductory balance transfer APR of 0 percent is good for 18 months.

For more than 20 years, Cincinnati’s most trusted accountants, Donohoo Accounting Services, has helped individuals like you wisely manage their personal finances. Contact us by calling 513-528-3982 or email us today. And don’t forget to check us out on Facebook, Twitter or LinkedIn for our latest updates!

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5 Tips to Managing Credit Card Debt

Using credit cards can be a good thing when they’re not over-used, and if they’re managed wisely. However, relying on credit to maintain a beyond-your-means lifestyle or even as a way of making ends meet can be a slippery slope. Why? Because if you lose sight of how much credit you’re carrying, rack up large credit balances or pay lots in finance charges each month, you’re actually doing your finances more harm than good. Let’s take a look at five things you can do to be sure you’re managing your credit card debt wisely.

Track Your Debt

Especially if you have more than two credit cards, make sure you know how many accounts you have open that you’re paying on each month, the total balance of each credit card account and the due dates and payment due each month. Simply seeing these totals may not only make you aware of how much credit card debt you’re carrying but also provide you with an incentive to pay it off.

Pay off Small Balances First

Some experts say that the smartest way to manage your monthly credit card payments is by targeting the smallest balances first. The reasoning is that by eliminating the smallest balances first, you will quickly free up more cash monthly to pay on the larger balances, which are probably costing you more in finance charges.

Lower Your Finance Charges

Monthly finance charges on credit card debt usually consist of an interest rate which is multiplied against your balance. These charges may start out low but usually increase over time or when your balance reaches a certain level. Knowing which of your credit cards costs you the most in finance charges will tell you two things: 1) Which card to use least, and 2) Which card company you should negotiate with for a lower rate. Some credit card companies will lower their interest rate if you simply call and ask for – or negotiate – a lower rate.

Use Credit Cards Sparingly

The best way to eliminate monthly finance charges is to pay cash and don’t use your credit cards. When you do use credit, however, keep the amount you spend small (less than $500 per month) and pay off the balance immediately when it comes due. Following this tip will not only stop you from drowning in credit card debt but also help to build your credit score.

Raise Your Credit Score

Your level of credit card debt and your on-time payments have a significant impact on your credit score. Your credit score is the main factor used by banks and other lending institutions to make decisions about lending for home and auto purchases. By keeping your level of credit card debt low – or even at zero – your credit score will show banks and mortgage companies that you are responsibly using your credit cards and wisely managing your debt.

An excellent resource to help you manage your credit card debt is an experienced accountant like those at Donohoo Accounting Service. Schedule your credit card debt consultation with Donohoo by calling 513-528-3982 or email us today.

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