We've been saying this a long time - Top Sales Performers are Active Listeners

Top Sales Performers are Active Listeners

Source: https://www.autodealertodaymagazine.com/357345/study-top-sales-performers-are-active-listeners?utm_source=email&utm_medium=enewsletter&utm_campaign=20190701-NL-ADT-Enews-BOBCD190625013&omdt=NL-ADT-Enews&omid=1010217479

Highlights:

They found that top-performing salespeople actively listened to callers 179% more often than bottom performers — a practice that leads to more visits to dealerships and, ultimately, more sales.

Top performers, defined in the report as the top 25% of salespeople, relied on active listening techniques, such as repeating and clarifying information. According to the study, top performers then used that information to provide callers more relevant recommendations.

The findings showed that top sales performers:

  • Requested the caller’s name 163% more often than bottom performers.

  • Laughed on more than half of their calls, which kept the calls positive and helped relax the caller.

    “Understanding and empathy drive sales,”

CPA's advice for independent contractors

I had a contractor come on board who has always been a W2 employee before. Here is the advice from my CPA for contractors.

Independent contractors need to make estimated payments. As an independent contractor, you are responsible for paying all the taxes on your earnings. To do this, you make quarterly estimated tax payments to the IRS using Form 1040-ES. In addition to federal and state taxes, independent contractors need to pay a self-employment tax of 15.3 percent of earnings.

Tip: Track your expenses and save receipts. By doing this, you can subtract eligible expenses like mileage, supplies and uniforms from your gross earnings. Use this lower income number to calculate your self-employment tax and correctly estimate your income tax obligation.

CPA's advice on kids working in the business

I had a recent issue come up with a client who has the kids receiving income from the business. Here is the advice from my CPA.

Students should take advantage of tax-free earnings limits. If you anticipate making less than the annual standard deduction ($12,200 for single in 2019), none of your earnings are subject to federal taxes! If possible, earn at least that amount each year to maximize your tax-free earnings. Remember, if you can be claimed as a dependent on someone else’s tax return, the limits for tax-free unearned income such as interest and dividends are lower.