The Home Office Deduction – What Qualifies? 

strategise-865006_1920If you use part of your home for business purposes, then you are likely eligible for a home office deduction. This deduction applies to any property providing basic living accommodations with the exception of areas exclusively used as motels, inns, or similar establishments. Today we are providing an overview of the basic requirements to qualify.

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Financial Abundance

abundanceThis is a question that I love. It evokes many thoughts from the incredibly greedy to the thoughtful giving. When we put ourselves in a state of need we can block the greatness that can create abundance.

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7 Business Tax Deductions to Consider 

59336632 - td tax deduction written on notebook page with red pencil on the right

As the year starts winding down to an end, we recommend business owners start looking over their expenses for the year for reporting purposes and determine the best way to reduce their tax liability. If you are a business owner, you may be entitled to some (or all) of the following deductions.

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Try Crowd-funding to Help Fund Your Business

dollar-1362244_1920Successfully running a business requires cash flow. Having enough cash to pay upcoming expenses is critical to maintain operations. Whether you are just starting your company, or have been in existence for some time, we recommend you consider raising capital through crowd-funding if you are finding it difficult to be approved for a loan.

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Life Insurance As An Asset?

 

life insurance

Life Insurance. When you think of assets what comes to mind? When thinking about your future money the more diverse the assets the better. Most people like bonds,fixed or cash products because they are SAFE! What happens when “LIFE” throws you a curve-ball?

 

You may have been diagnosed with an illness and now you need to start dipping into that bucket. Now you face depleting that bucket and can you or will you ever be able to replace that outgoing money?

 

Let’s look at another asset that could perform in many “curve-ball” instances, one that you may not even be aware of, one that can used for a plethora of “Life Situations”

It is Life Insurance!

Are you surprised? The reality is that most people aren’t taught the beauty of Life Insurance as an Asset Class. Its looked upon as an expense. Canceled first if financial stress happens as if it were a gym membership.

The problem with that is you are only able to get Life Insurance if you are healthy and the younger you get it, the less expensive it is.

Q: Where did people have their money during the great depression?

  1. Bank
  2. Cookie jar
  3. Insurance Company

Fact; During the great depression the only people who were financially comfortable had all of their money in INSURED  INVESTMENTS! AKA; Life Insurance!

When constructed correctly with the correct company it could be one of the greatest assets you can provide yourself with. It can also protect your business, your family and You in case of an unforeseen illness. This is so personal and when structured correctly with your individual needs, it could give you everything you ever need for a financially comfortable future.
Let’s have a discussion about this. Its Life Changing.

6 Things to Watch Out for Before Signing a Real Estate Contract in California

nancy-l-print-image-5-1If you can’t afford an attorney to review the most important contract you will ever sign, pay serious attention to the following paragraphs:

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Productivity Assassins

11840278 - do not disturb yellow paper office note with a red thumb tack as a warning sign to be quiet and not noisy to allow for relaxation and silence in a peaceful healthy environment with no sound pollution.

Hopefully most of you set the intention of what you’re going to get accomplished each day, either with a to-do list or a project manager. As you start your day, focus on each item and check things off, here it comes–the surprise attack that has come to murder your productivity. It comes in many forms; clients, employees, spouses, children and Facebook, just to name a few. 

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Life Changing

By Lu Casillas

This can be Life Changing. 

$100 in cash 5x20

Let’s talk about your children, grandchildren,nieces and nephews. How would you feel if you could create a

“Life Changing” situation for them that is positive and protects them throughout their lifetime? Some verbs that come to mind are: Rejoice, Savvy, Surprise and Pleasure. 

Either we are unaware that it can be done or we are advised of a plan that is great for education but cannot be used for anything other than education. Let’s get realistic. We may want our children to go to college, however, today there is no guarantee. We have generations of High-Tech Brainiac’s, entrepreneurs and incredibly gifted young people and some have no desire or reason to go to college, or It interferes as an asset and can be used against you when trying to get funding or scholarships.

So what happens with the money locked up in that “College Plan”? Well, I interviewed a bank manager and this is what was told to me verbatim. “Well, you could go back to school or give it to another kid that wants to go to school.” In reality if it isn’t used for education you can take it out pay all the taxes and now do what you will with it.

 

What if I showed you that with as little as $100 a month you could create amazing possibilities for a child’s future? Possibilities that could be life changing. If an injury or illness arises, there is money in place to handle costs.

 

It could be used for college, a wedding ,a first home, future Tax-Free Lifetime Income and its not looked at as an asset when applying for scholarships or loans. Could you get excited? Would you reach out to me? It’s time to learn about this amazing plan.

Common Tax Mistakes Made by Start-Ups

Accounting.

Tax obligations are often a dreaded aspect of starting up a business, but sorting out your tax obligations doesn’t have to feel like pulling teeth! Here are a few tips to avoid common startup tax mistakes so you can make your business—and life—easier in the long run.

  1. Pay Quarterly Taxes

Quarterly taxes are usually required by the IRS for all entities, including sole proprietors (except during your business’ first year). In some cases businesses can opt to pay annually—but it is considered much more advantageous to pay-as-you-go, since a full year’s worth of taxes is no small amount. Setting aside a percentage of your profit can help you maintain compliance easily.

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Wealth or Finances?

I recently asked a woman about her wealth accumulation plans. She was completely unenrolled in the topic. When I asked her why she replied,” I am not wealthy nor will I ever be!”  I asked her “ How do you feel about your finances?” She completely opened up.

Does the word WEALTH frighten you? If so why?

thinking

I see WEALTH as an abundance in every area of life. We do gravitate to assume it only means the state of being rich; material prosperity.

Houses of wealth can be be found in your Health,Financial, Family or Love areas as an example.

 

I heard something today and it was mind blowing by Van Mueller. Did you know that our country has 323 million people in it and 162 million of them are on benefits, We have 50 million retirees and we had more workers in the year 2000 then there are right now! We are over $19.4 Trillion in debt and it will take EIGHT GENERATIONS to fix this.

 

Why do people get paid on Friday and by Monday morning they are BROKE? What is that thinking or lack of thinking?

 

If you saved one million dollars for your retirement today at 5% growth would you feel set for life?

Let’s look .

After taxes (apx 30%) You would have about $35,000 in annual income. Just about $3,000 in monthly income! If you were accustomed to making $8,000 monthly could you actually live on less than half of that? Let me answer for you. NO.
Back to the woman I started speaking about. She got it! Wealth is positive, Finance is positive. She needed  a conversation that no one would have with her. You have untapped options and I can help. Why not have financial quality in your life. It’s not about putting your money at RISK, It’s about making sure it’s not volatile!