January 2011

Link Newsletter

Our monthly newsletter, Link Newsletter, is full of tips, reminders, and timely advice to help you stay well informed when it comes to your business and personal finances. If you have questions about any of the articles, feel free to email Damon Yudichak at Damon@yudichakcpa.com.

January 2011

Orange Star NewsletterFocused Information for the Small Business Owner
Volume 3, Issue 2

Damon Yudichak

Damon Yudichak

Portrait by Charles Gupton


The most important day in any running program is rest. Rest days give your muscles time to recover so you can run again. Your muscles build in strength as you rest.

Hal Higdon
US Writer and Runner
(1931 – )



In This Issue

My Wake Forest Ribbon Cutting

Thanks to everyone who came out to my ribbon cutting this month. The opening of a new office is an exciting time to celebrate. My wife was very kind and spent many hours preparing food for the ribbon cutting.

Being that January was a cold month this year, we decided to make chili and Mexican Chicken Soup. The chili was tremendous but everyone raved about the Mexican Chicken Soup. I think if everyone voted, the Mexican Chicken Soup would have been the crowd’s favorite. Many people said we need that recipe. Later in the newsletter I’ve included the recipe she used.

It was a wonderful day that I could share with my friends, business associates and family.
Claire Ribbon Cutting

Damon’s Big Lesson

I’ve been running a lot lately in preparation for my first half marathon next month. On Saturday mornings I do my long runs with a couple of other runners. I’m not quite sure why, but we all seem to revel in the pain of long distance running.

I consider myself a pretty competitive person. Sometime I have to laugh at the things I get competitive about. Sometimes I will be walking down the street next to someone I don’t know. The next thing I notice is that there is an extra spring in my step as I try to out walk that person to the end of the street.

Competition is something that each of us deals with on a daily basis. There are many positive aspects of competition. Left unchecked, competition like anything can lead one down a path that can be counterproductive.

On one of my Saturday morning runs, I was talking with my fellow runner about how in most of my life, I feel like I’m competing with others. At times, I feel like I have to win to prove to myself that I’m good enough. I tend to be very accomplishment driven. The sad part is at times I compare my weaknesses with other’s strengths and at times I don’t recognize the strengths that I have. I realize this is terribly unfair to myself, but at times it is something that I do.

The one thing that has been nice about running again is it gives me a way to temper my competitive spirit. In reality the only person that it makes sense to compete with is oneself. That is part of the beauty of life, that we can be better today and tomorrow than we were yesterday.

When I run, I really don’t care if I am faster than Andrew or Stephen or Jason. I only care that today I am a better runner than I was yesterday. With running, I only focus on improving myself. In running, as in life the only control one has is over oneself.

Reader’s Corner

This month’s book is one of the first books I read that really captured my attention. Les Miserables by Victor Hugo. Now I will confess I read an abridged version of the book as the unabridged version is well over 800 pages. Les Miserables is the classic novel that tells the story of Jean Valjean who was imprisoned for over nineteen years for stealing a loaf of bread.

Valjean eventually gained his freedom but prison life had turned him into a wretched person lacking a moral compass. Then in one moment his life hit rock bottom and he determined that he would make something of his life and become a man of honor.

In order to escape his past, Valjean changed his name and created a new identity so that he would not be weighed down by his past. Valjean straightened out his life and became a successful businessman and mayor of his town. This was a remarkable feat especially given the fact that in the early 1800’s in France, once a person was a convict, that person was a second class citizen that was doomed to carry the scarlet letter of ex-convict with him throughout the rest of his life.

He was a very respected man that treated his employees well and had brought vitality to the economy of his small French town. He lived with the secret of his past life and knew that if anyone found out about his life as a convict, not only would he be destroyed but the town that he built up would return to its former impoverished state.

Then a fateful day came when an innocent man was arrested and wrongly identified as Jean Valjean. The innocent man would be sent to prison for the rest of his life unless Valjean revealed his true identity. Ultimately, Valjean testified that he, the mayor of the small French town, was in fact the ex-convict.

In Valjean, one sees the story of a man that picks himself by his bootstraps and makes something out of his life.

Mexican Chicken Soup

Many people at the RIbbon Cutting asked about the wonderful soup my wife made for the event. Here is the recipe for the Mexican Chicken Soup.

1 lb chicken, chopped
1 16 oz can of corn with peppers
1 10 oz can of cream of potato soup
1 4 oz can of chilies ( I just use Rotel)
2 T of fresh cilantro
1 1 1/4 oz packet taco seasoning
3 c chicken broth
8 oz sour cream
8 oz Velveeta

In slow cooker combine chicken, corn, soup, chilies, cilantro, taco mix and broth.

Cook low 4-6 hours, or high 2-3 hours.

Put 1 cup of hot soup, mostly broth, in a small bowl; add sour cream and mix well.

Pour back into slow cooker and add cheese. Cover and let stand 5 minutes.

I usually make a double recipe in my 6 quart crock pot.

I also get a can of southwest corn for variation (with the other can of corn) I also get cream of chicken and celery and add a couple of diced potatoes, if you can’t find the cream of potato .

What’s With the Moon?

I’ve had a couple people ask, What’s with you and the moon? About two years ago, I became fascinated with the Apollo Program. I began to study the program and interview people who helped make the monumental task of landing on the moon a reality.

The moon is a symbol of possibility for me. It is a source of inspiration. I like to be inspired.

About Me

My name is Damon Yudichak and I am a Certified Public Accountant. My father was an Army officer and we moved around a lot. We finally ended up in Fayetteville, NC. I’ve been a resident of Raleigh since 1999 when I moved here to go to North Carolina State University. I am fascinated with the moon and am still amazed that man has walked on the moon. I also am a big standup comedy fan.

The Orange Star Newsletter is prepared by Damon Yudichak. The Orange Star Newsletter carries no official authority, and its contents should not be acted upon without professional advice.

In accordance with IRS Circular 230, this newsletter is not to be considered a “covered opinion” or other written tax advice and should not be relied upon for IRS audit, tax dispute, or any other purpose.

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  • We started our residential real estate business and brought Damon on as our principal adviser for all matters relating to taxes & accounting. We have doubled our business each year and Damon is a critical partner that has allowed us to successfully focus on our business.

    – Dan and Rachel Kendall
    Owners, The Rachel Kendall Team, LLC - Raleigh, NC
  • Damon Yudichak is a diligent and consistent professional. I’ve worked with Damon since 2009 and I’ve felt like a valued customer since the beginning of our relationship. His firm is consistent, courteous, and knowledgeable. He and his firm are a vital link to my business.

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    Inspirus Consulting, Inc. – Cary, NC
  • Owning a small business… to me, it’s worth millions! Bringing Damon on for accounting and tax purposes… just a reasonable monthly fee! Keeping our business legal and my business partner sane… PRICELESS!

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    Art on the Fridge, LLC – Raleigh, NC