August 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

August 2011

Orange Star Newsletter

Focused Information for the Small Business Owner
Volume 4, Issue 5

Damon Yudichak

Damon Yudichak

Portrait by Charles Gupton

In This Issue

Purple Heart Dinner

This month I had the opportunity to attend the Wake Forest Purple Heart Dinner. It was my first time attending the event. The Purple Heart is awarded to military personal that are wounded or killed during combat. The event was exceptionally well done. The highlight of the Dinner was the walk of honor where each Purple Heart recipient walked across the stage and was honored for their contribution and sacrifice.

This year’s guest speaker was Captain Scotty Smiley, a graduate of the United States Military Academy at West Point, a Ranger, and combat-diver qualified infantryman. On April 6, 2005, while serving in Iraq, he lost use of both eyes when a suicide car bomber blew up thirty meters in front of Captain Smiley’s Stryker vehicle. He was the Army’s first active-duty, blind officer and its first blind company commander.

Captain Smiley started his speech by sharing his experience with the challenge of climbing Mount Rainer in Washington. He went on to tell about how he was spoiled as a teenager because his mom always did his laundry. He wanted an appointment to West Point and experienced a huge culture shock. No longer could he be spoiled. In addition to the new rigors of military life, he now was in charge of doing his own laundry!

He spoke of the despair he went through after having lost his sight and how he was able to rise above this new challenge. Captain Smiley then tied up his speech, where he began, as he told about the final push to summit Mount Rainer. What was truly amazing is this climb to summit Mount Rainer occurred after his tour in Iraq. He climbed the mountain without the use of his eyes.

Damon’s Big Lesson

At one point in my life I was a huge major league baseball fan. I really enjoyed playing

and watching baseball when I was eight and nine years old. Ultimately, I lost interest in the sport Shortly after I married Angel, I started to fall in love with the game. I read numerous books about players and the history of the game. I started to watch baseball games on TV. Then during Labor Day weekend of 2002, Angel and I made the trek to our first ever major league baseball game at the friendly confines of Wrigley Field. It was such a wonderful experience. The Cubbies played the Cardinals that day. I felt like I was transported back to a simpler time when life was slower paced and happier. The following spring I graduated from NC State (Go Wolfpack!!) and Angel and I took our baseball trip. We drove to 19 baseball stadiums and saw 29 games. It was a six-week journey and I was in heaven each day. When you go to a baseball game, you never know what you will see. This was 2003 when the Marlins went on to beat the Yankees in the World Series. We were in Chicago sitting behind home plate when Barry Bonds hit his home run. It is by far the most amazing thing I ever saw in any baseball game as the baseball came off of his bat like a rocket.A couple of years later the Mitchell Report was produced and many of the players I enjoyed watching were accused of using performance enhancing substances. This has changed my views and enjoyment of the game of baseball as I do view that as a form of cheating.

The history of baseball is very interesting because in baseball we see America and what we as Americans value. During the steroid scandal we saw that winning was the only thing that mattered. The end justified the means and if you could cheat to win that was “OK.” In fact there was a strong incentive to cheat. With cheating came winning, fortune and fame.

This has dismayed me that by cheating one is able to progress. On the other hand, I’ve seen many people succeed because of good ideas and a strong work ethic. Ultimately, I have to believe that the majority of those who get ahead do so as a result of quality work, honesty and providing goods or services that solve problems.

Free Agent Nation

This month’s book Free Agent Nation was written by Daniel Pink. This book was published ten years ago long before we entered into the Great Recession. Daniel Pink was a very successful writer. From 1995 – 1997 he served as Vice President Gore’s Chief Speechwriter. As one could imagine writing speeches for the vice president of the United States was an incredibly rewarding and rigorous job. The rigor of his job took its toll; Pink became sick and was medically diagnosed with exhaustion.

Three weeks later he left that job and decided to become a free agent or freelancer. He determined that he would secure contracts using his writing abilities. As a result of becoming a free agent, Pink that there was a free agent work was growing movement in America. Pink realized that over 30 million people in America were Free Agents. He predicts in Free Agent Nation that workplace in America is structurally changing because for all the strengths of big corporations, they have one significant challenge … they are too big. The processes and organization that the big corporation has is becoming a weakness in some respects.

Some of the advantages the free agent has are it is more nimble. It can make changes quick and respond to a customer’s immediate needs. The free agent does not have all the overhead of a big corporation so the free agent is able to do his work at a lower cost to the customer.

Pink explores the benefits and downsides of free agency. He lists roadblocks to Free Agency and what one can do in order to become a Free Agent.

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.

    – Al Sullivan, President
    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!

    – Tonya Baskerville, Owner
    Art on the Fridge, LLC – Raleigh, NC