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To Our Valued Referal Partners: Happy New Year!

12/30/2024

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Hello from all of us at GLM Accounting!

As we look back on this past year, we’re filled with gratitude for the connections we’ve made with incredible businesses and partners like you. At GLM, our mission goes beyond accounting—we strive to support the growth and success of the businesses we work with.

Whether it’s navigating tax season or providing guidance through the challenges of business, we’re here to be a trusted resource and partner.

Steering Direction. Matching Ideas with Resources.

So from our GLM family to yours, we wish you a holiday season filled with joy, relaxation, and warmth. May the new year bring exciting opportunities for growth and success.

Thank you for allowing us to be part of your journey. Stay safe, stay joyful, and we look forward to connecting with you in the new year!"
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To Our Valued Clients: Happy Holidays From GLM

12/23/2024

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Hello from all of us at GLM Accounting!

As we reflect on this past year, we're grateful for the opportunity to work with each of you, helping not only with your accounting needs but also supporting the growth and success of your business. From tackling tax season to providing guidance through the ups and downs of business, our team is here to make sure your goals stay on track.

We know how hard you work, and we’re here to work just as hard alongside you. So from our GLM family to yours, we wish you a joyful holiday season filled with warmth, happiness, and relaxation.

May this season bring you time to recharge, and may the new year be bright with promise.

​Thank you for trusting us with your business. Stay safe, stay joyful, and see you in the new year!"
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Leveraging Technology Trends in 2025 for Business Success

12/16/2024

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In today’s fast-paced world, staying ahead of technological trends is essential for businesses to remain competitive and innovative. As we approach 2025, advancements in technology continue to reshape industries and create new opportunities for growth. Here are three key technology trends to watch and leverage in the coming year.

1. Artificial Intelligence (AI): Enhancing Efficiency and Customer Service
Artificial Intelligence (AI) is no longer a futuristic concept—it’s a transformative tool businesses can use to optimize operations and deliver exceptional customer experiences.
  • Personalized Customer Experiences: AI-driven tools like chatbots and recommendation engines can analyze customer data to offer tailored solutions, improving satisfaction and loyalty.
  • Operational Efficiency: AI can automate repetitive tasks, such as inventory management or data entry, freeing up employees to focus on strategic activities.
  • Predictive Analytics: Use AI to forecast demand, identify trends, and make data-driven decisions that minimize risks and maximize profits.
Businesses that adopt AI strategically can reduce costs, improve customer engagement, and gain a competitive edge.

2. Data Privacy: Protecting Consumer Trust
As businesses collect and analyze increasing amounts of consumer data, ensuring its protection is more critical than ever. Data privacy regulations, such as GDPR and CCPA, have made compliance a legal necessity, but the benefits extend far beyond avoiding penalties.
  • Build Consumer Trust: Transparent data practices and secure systems show customers that you value their privacy, fostering loyalty and trust.
  • Invest in Cybersecurity: Implement robust measures like encryption, firewalls, and employee training to safeguard sensitive data from breaches.
  • Stay Compliant: Regularly review and update your data practices to align with evolving regulations and industry standards.
Prioritizing data privacy not only mitigates risks but also enhances your brand’s reputation in the marketplace.

3. E-Commerce Innovations: Adapting to New Shopping Trends
E-commerce continues to evolve, with emerging trends redefining how businesses sell products and services online. Staying ahead of these innovations is essential to meet changing customer expectations.
  • Mobile Commerce: Ensure your website is mobile-friendly and consider creating an app to cater to the growing number of mobile shoppers.
  • Social Commerce: Leverage platforms like Instagram, TikTok, and Pinterest to sell directly through social media channels.
  • Augmented Reality (AR): Integrate AR into your e-commerce experience to allow customers to visualize products in their space before purchasing.
  • Sustainable Practices: Highlight eco-friendly options, such as carbon-neutral shipping or recyclable packaging, to appeal to environmentally conscious consumers.
By embracing these trends, businesses can create seamless, engaging, and innovative shopping experiences.

Preparing for the Future
To successfully leverage these technology trends in 2025, businesses should:
  • Stay Informed: Regularly monitor industry news and advancements to keep up with the latest developments.
  • Invest Wisely: Allocate resources to technologies that align with your business goals and offer the highest ROI.
  • Train Your Team: Ensure employees are equipped to use new technologies effectively and understand their implications.
By adopting AI, prioritizing data privacy, and innovating in e-commerce, your business can remain competitive and thrive in the ever-changing landscape of 2025.
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The future is here—are you ready to embrace it? 💡🚀
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Preparing for Year-End Financial Planning for Businesses

12/9/2024

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​As the calendar year comes to a close, December is the perfect time for businesses to evaluate their financial health and lay the groundwork for a prosperous new year. Strategic financial planning now can help you maximize savings, minimize liabilities, and set clear goals for the future.
Here are three critical areas to focus on as you prepare for year-end financial planning.

1. Tax Strategies: Maximize Deductions and Credits
Tax planning is a vital part of year-end financial preparation. Taking proactive steps now can reduce your tax burden and boost your bottom line.
  • Review Deductions: Ensure you’ve accounted for all eligible business expenses, such as office supplies, travel costs, and employee benefits.
  • Accelerate Expenses: Consider making additional purchases or paying upcoming expenses before year-end to increase deductible costs for the current fiscal year.
  • Defer Income: If feasible, delay income receipt until January to shift tax liability to the next year, especially if you anticipate a lower tax rate then.
  • Leverage Tax Credits: Research credits you may qualify for, such as those for hiring employees, investing in clean energy, or conducting research and development.
Collaborate with a tax professional to ensure you’re maximizing your deductions and credits while staying compliant with regulations.

2. Budget Planning: Set Realistic Goals for 2025
A well-structured budget is the cornerstone of financial success. Use this time to evaluate your 2024 performance and refine your strategy for the upcoming year.
  • Analyze Past Performance: Review this year’s financial data to identify trends in revenue, expenses, and profit margins. Determine areas where you over- or under-spent.
  • Set Priorities: Establish clear financial goals for 2025, whether it’s increasing revenue, reducing expenses, or investing in growth initiatives.
  • Build a Contingency Fund: Allocate funds for unexpected expenses to ensure your business remains resilient in the face of challenges.
  • Engage Your Team: Involve key stakeholders in the budgeting process to ensure alignment with organizational goals and realistic expectations.
By planning your budget thoughtfully, you’ll set your business up for success and avoid financial surprises.

3. Investment Opportunities: Plan for Growth
Year-end is also a great time to explore new opportunities to grow and strengthen your business in the upcoming year.
  • Upgrade Technology: Invest in software, equipment, or systems that will improve efficiency or enhance customer experiences.
  • Expand Your Offerings: Explore launching new products or services to diversify revenue streams.
  • Professional Development: Allocate funds for employee training or leadership development to enhance team capabilities.
  • Explore Tax-Advantaged Investments: Consider investments like retirement plans or energy-efficient upgrades that provide both growth potential and tax benefits.
Carefully evaluate each opportunity to ensure it aligns with your business goals and offers a strong return on investment.

Get Started TodayYear-end financial planning doesn’t have to be overwhelming. By focusing on tax strategies, budget planning, and investment opportunities, you’ll create a solid foundation for a successful 2025. To ensure your efforts are effective, consult with financial advisors, accountants, or tax professionals who can provide tailored guidance for your business.
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With thoughtful planning, you can finish the year strong and step into the new year with confidence.
Here’s to your financial success in 2025! 🎉💼
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A Perfect Opportunity to Sponsor Fundraisers

12/2/2024

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​Giving Tuesday, the globally recognized day of generosity and philanthropy, falls on the Tuesday following Thanksgiving each year. It’s a day when individuals, communities, and businesses come together to support causes they care about. For businesses, it represents more than just an opportunity to give—it’s a chance to align your brand with community impact, engage your audience, and make a difference.

Why Giving Tuesday Matters to Businesses
  1. Strengthens Community Relationships
    Supporting Giving Tuesday initiatives connects your business to the community you serve. Customers appreciate businesses that care about more than profit, and contributing to local causes builds trust and loyalty.
  2. Enhances Brand Image
    By participating in Giving Tuesday, you demonstrate your company’s commitment to social responsibility. Consumers are increasingly choosing brands that align with their values, and showcasing your involvement can enhance your reputation and attract like-minded customers.
  3. Boosts Employee Morale
    Giving back as a company fosters a sense of purpose among employees. Encouraging team participation in fundraising efforts or volunteer opportunities can improve morale, teamwork, and job satisfaction.
  4. Creates Marketing Opportunities
    Leveraging Giving Tuesday in your marketing strategy helps tell your brand’s story. Use social media and email campaigns to highlight your efforts, share the impact of your contributions, and inspire others to get involved.

Leveraging Giving Tuesday to Sponsor Fundraisers
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Sponsoring fundraisers on Giving Tuesday allows businesses to make a tangible difference while gaining visibility. Here’s how your business can maximize its impact:
  • Partner with Local Nonprofits:
    Collaborate with organizations that align with your company’s mission. Sponsoring their initiatives, whether it’s a community event or an online campaign, provides a platform to showcase your values.
  • Match Donations:
    Offer to match every dollar your customers or employees contribute. Matching gifts amplify the impact of donations and encourage more people to participate.
  • Host a Fundraising Event:
    Organize a special event, such as a charity auction, raffle, or benefit dinner, with proceeds supporting a chosen cause. This creates a memorable experience for participants while raising funds for an important mission.
  • Leverage Social Media:
    Use your business’s online presence to promote fundraisers. Share stories, highlight beneficiaries, and encourage your audience to contribute. Tagging nonprofits and using #GivingTuesday can broaden your reach.
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Spotlight on the Rotary Caribbean Classic
One incredible opportunity to combine the spirit of Giving Tuesday with impactful sponsorship is the Rotary Caribbean Classic, scheduled for March 8, 2025. Hosted by the Rotary Club of Schaumburg Hoffman Estates, this annual gala raises funds for scholarships supporting high school students, adults entering trade programs, and individuals returning to college to improve their lives.
The Caribbean Classic features:
  • Silent and live auctions
  • Theme-based games
  • A $10,000 grand prize drawing
  • Entertainment by a live band

Businesses can participate as event sponsors, donating auction items, or attending with colleagues and clients. Sponsorship levels range from $500 to $100,000, allowing organizations of all sizes to contribute and gain exposure. With 300-350 attendees and the mayors of Schaumburg and Hoffman Estates serving as honorary chairs, this event offers exceptional visibility for your brand.

By sponsoring fundraisers like the Caribbean Classic, your business not only amplifies its impact on Giving Tuesday but continues that momentum throughout the year.

For more information on sponsoring or attending the Rotary Caribbean Classic, Click the Link below. Together, we can make a lasting difference.

Learn More about Sponosring
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    GLM's Blog

    In true blog fashion, the last parts are at the top of the page. Scroll all the way down and work your way back up to read them in order. 

    Tom Gosche

    Tom is the Business Development Manager for GLM. If you are interested in learning more about GLM's services, contact him:

    630-675-8971
    [email protected]
    View my profile on LinkedIn

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GLM, Inc.
 
300 N. Martingale Rd., Suite 750
Schaumburg, IL 60173-2097
 
Phone: (847) 884-1781
Fax: (847) 884-1830
E-mail: [email protected]
Website: www.goglm.com 

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