Sign up to download our social media whitepaper![email-download download_id=”1″ contact_form_id=”209″]As a business, the thought of approaching social media can be daunting.  The amount of information available on the subject is overwhelming, and you probably have many questions.  Although the needs of businesses vary greatly, there are a few key principles that apply to everyone.

Here are a few common questions to start with.

Does my company need social media?
First things first – social media is no longer an option.  If you don’t have an online presence, you run the risk of becoming obsolete.  Today’s consumers regularly go online to research companies and products that they are interested in.  If you’re not there, and your competition is, you’re not going to be found.

Should there be a social media policy?
Before implementing social media, be sure to have some sort of policy in place.  You want to make sure that anything put out there in connection with your company reflects your business in a positive manner.  Make sure that anyone delegated to use social media in your company’s name knows the level of professionalism that is expected.

What are we trying to accomplish?
Remember that social media is social.  Interact with others.  Share ideas and information.  Be personable.  People don’t want to do business with a company.  They want to do business with another person who is available to interact with them.  Try engaging your clients, or those you would like to become your clients.  Offer them valuable information and resources that distinguish you as an expert in your field.

If used properly, social media can be a powerful tool to develop and enhance your business relationships.  Make the most of it!

After being in session for only two weeks in September, Congress has now adjourned until after the November 6 elections — without reducing any tax law uncertainty. The “lame duck” session is the next possibility for legislative activity. The Senate will return for the week of Nov. 15, break for the week of Thanksgiving and return again on Nov. 29 for a period of time yet to be determined. The House’s schedule likely will be similar.

Congress has a full plate awaiting them in the lame duck session. This includes addressing tax breaks that expired at the end of 2011 as well as the rates and breaks that are scheduled to expire at the end of this year.

The results of the election should shed some light on what Congress will try to accomplish in the lame duck session — and what they’ll punt to next year. (In terms of the latter, tax law changes could be made retroactive.)

According to popular wisdom, the Republican leadership may be more likely to strike an agreement with Democrats on the substance of extending tax cuts if President Obama is re-elected. If Gov. Romney is elected, Republicans would have less reason to compromise.

Other election results that will affect legislative action are which party will control the Senate and by what margin. The Republicans are expected to retain control of the House, but also significant will be how many of the Tea Party members elected two years ago retain their House seats.

As tax law uncertainty continues, year-end tax planning remains a challenge. It’s a good idea to perform a year-to-date review of your income, deductions and potential tax now. That way you can be ready to take quick action once it’s clear what, if any, tax law changes Congress will make before year-end.