When do you think your ship will come in?

Most people dream of a better life. Some go out and make it happen!

Which are you?

“If I work hard, if I put the time in, if I just keep playing the game as I was taught. then at some point, Read the rest of this entry »

When I was growing up it was just understood that you make money working for a company for 30 years. You retire. You get paid a pension. You grow old with a certain amount of financial security.

That scenario just doesn’t exist anymore.

The average person coming out of college today is expected to have over eight job changes in their lifetime! What!

Does that mean that you won’t like your job and you will just go on your way? Does it mean that you are expendable, just a cog in the wheel? Does it mean that your company will cease to exist?

Yes, yes and yes.

Plus many other possibilities. The bottom line? Read the rest of this entry »

Why is it risky to work for someone else? What would you do if your job suddenly disappeared?

In these times this is unfortunately a question that many people are asking themselves. We all know someone who has lost a job and are wondering what to do now.

Do you know what your skills are? Do you know how you would apply those skills to earn money? Do you have access to a market where these skills would produce employment?

Let’s just look at college students as they Read the rest of this entry »

Let’s talk a bit more about the tax advantages of owning a business.

As a business owner I get a return on my financial investment and a return on my physical and mental efforts. I am happy to pay my employees more because if they make more, I make more.

It is the same way with taxes.

Most people feel that they want to pay less taxes. I understand that if I am paying more taxes that is because I am making more money!

Imagine having to pay $25,000 more in taxes next year for making more money in a new business. Most people are conditioned to NOT want to pay more taxes. So their first response is, “I don’t want to have a business if it means paying more taxes.

Think about it, if I told you that you could make $100,000 more next year but you had to pay $25,000 more in taxes than you did last year, would you want to?

Of course you would! That’s $75,000 more IN YOUR POCKET!

When you own your own business, as we have said in the last couple of posts, you also get to take deductions from your taxable income for things you pay out of your pocket as an employee. Typical things like: Read the rest of this entry »

Yesterday I talked about some tax implications of owning your own business. Let’s talk a little more about that.

But first a reminder: I am not a tax or legal professional and am not qualified to give advice on these subjects. I just know I have worked with my professionals and they have guided me well.

I STRONGLY encourage you to enlist the services of a competent CPA and attorney when launching and running your business. The cost of their services can reduce your taxable income because they are expenses too!

Having gotten the legal disclaimers out of the way…

Let’s talk about things things you are already paying for, with AFTER TAX dollars. Read the rest of this entry »