Tag Archives: taxes

Ohio is the first state to accept bitcoin for paying business taxes

1 Dec

https://www.engadget.com/2018/11/25/ohio-to-accept-bitcoin-for-tax-bills/

Matthew Horwood/Getty Images

Need More Time On Those Taxes? 6 months extension- FREE

15 Apr

Need more time to file?
Use TaxACT Online to file Form 4868 FREE for an automatic extension until October 15, 2013.
Start your TaxACT return now to file an extension and even if you don’t complete/file your return with them the extension remains in force and no cost.

#thriveorsurvive

No one goes to the Olympics for silver.

Thoughts? Concerns?
Questions? Think I’m wrong?
Let’s chat.
Need ideas?
Want to learn how to invite?
Let’s chat.
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Let’s chat-
Tony@Changeinadvance.com
@changeinadvance

http://www.changeinadvance.com

Or simply reply to this article.

#thriveorsurvive

QUICK TAX TIP

14 Apr

Taxes are due tomorrow unless you filed already or have an extension filed as well.
Do your due diligence folks and be sure not to cheat.

Now Folks, if you have a legit business you need to work your deductions.
There are legal, healthy deductions the government allows for every business. Competitive, entrepreneurial growth is not only desired it is encouraged by the government.
Now let’s say you meet a potential client while at the local watering hole/hamburger spot. You can legally claim a % of that meal. But you want to make sure you have proof.
So you save the receipt for sure.
Most of my readers know to keep every receipt forever so that’s not a new concept.

Here’s the new concept:
Write the date, time, name and contact info on back of that receipt.
Now you have a great frame of reference for you and your CPA.

Want a Bonus tip:
Every time you get a business card from someone or a contact card- write their info and a first impression on the back.
Something like: Peter Parker, likes Silver coins, on a 1-10 his interest peaked at a 7.

See how simple this is?
How easy it can be to bulletproof
your taxes,
accounting,
and recruiting?

The business victories aren’t found in sealing the deal. The details are where you find every victory.
Prep work, and follow through deliver a greater ROI in every business.
I don’t care what you sell, who you train, or what you blog- my two aforementioned rules will deliver. Guaranteed.

#thriveorsurvive.

No one goes to the Olympics for silver.

Thoughts? Concerns?
Questions? Think I’m wrong?
Let’s chat.
Need ideas?
Want to learn how to invite?
Let’s chat.
Want a mentor or maybe the guy who will bounce ideas back and forth with you?
Let’s chat-
Tony@Changeinadvance.com
@changeinadvance

http://www.changeinadvance.com

Or simply reply to this article.

 

#thriveorsurvive

Image

JUST TO PUT SEQUESTRATION AND 2013 TAX INCREASES INTO PERSPECTIVE

3 Mar

A Paycheck is Never Enough

30 Dec

A Paycheck is Never Enough

Money doesn’t fix your problems.
Money isn’t an answer, its merely a means to trading up toward your goals and dreams being realized. These seem like mixed concepts but bear with me.

A paycheck is not winning.
If you work for money you are losing. Hardcore. Unless you are in the top, let’s say 10% of the income bracket in our fine country you are precariously close to failure. If you are in the bottom 40% you may be already in what I call ‘failure to launch.’
It works like this: when you work for money you are losing. A large majority of folks on this continent are working for peanuts. I’m not here to argue for higher wages. What I am arguing for is that you expect more for your efforts. That doesn’t mean you storm corporate. It means you get to a higher plain. Demand more of yourself. I work hard at my day job. Real hard. And I play by the rules and do as I’m told. And in doing so I’ve earned trust and a little latitude. I’ve also been given more income. Great perk right lol. However I know this job can never be my everything. I want more. I need it. So I’ve had my own business in one shape or form since 2007. I’ve picked up new skills, joined mlm’s, worked with kids through NCLB, sold life insurance and become a licensed bouncer. All of these ventures except one made me money. Some still do actually. Also in doing my job I’ve learned great skills and been privy to great training that has made bouncing/security easier and made my resume for that line of work vastly grander.
Now all of that comes from the mindset that a paycheck is never enough.
We can’t simply work for money day in and day out and then die. Simple. Factual.
What’s your story?
What’s your motive?
Inspire people. Inspire yourself.
For you not to be more than a paycheck player is selfish. Expect more.
Live for more. Do more. Make the dollars you make work for you. Make your free time expansion time.
You need more than a paycheck.
You are more than a job.
Be everything you were made to be. Go beyond the money. Live the dream that is you-specific. Its that simple. Okay, you say Tony you jerk life isn’t that simple.
Fine you win. Enjoy that defeat.
Wow. Cuts deep right?
Its a mindset. Let yours be that there is a WAY- and You will Find it.
When you live and work for more than a paycheck you will be successful. You will be happy. Love your job? Already happy?
Fine. No problem.
One question- couldn’t you be more even in that thing you love?
I’ve found that the harder I work and apply myself at work and at my office- the greater success I’ve had. The more people I’ve helped. And the more abundance I’ve found. Aka my paycheck isn’t everything, and doesn’t have to be.

#thriveorsurvive.

“For every two minutes of glamour, there are eight hours of hard work.” -J. Savitch

Thoughts? Concerns?
Questions? Think I’m wrong?
Let’s chat.
Need ideas?
Want to learn how to invite?
Let’s chat.
Want a mentor or maybe the guy who will bounce ideas back and forth with you?
Let’s chat-
Tony@Changeinadvance.com
@changeinadvance
http://www.changeinadvance.com
Or simply reply to this article.

You wanna be Rich, or Build Wealth

15 Dec

You wanna Be Rich, or Build Wealth?

Its an easy question. However most people don’t ask it of themselves.
Do you want to be rich, or are you building wealth? You see there is a huge difference between wanting and action.
There’s a few ways to get there. Let’s list them and discuss my favorite(s).

Save.
This is a tried and true method. Every financial planner, adviser, Buffet, or Orman will advise it as a foundation building move or the only move you need. It works. No question. Every dollar you take home should have a portion set aside just for this purpose. 20% should be the goal. In real life that’s a high dollar value for most folks. Start with 5%. If you can’t start with 1%. That’s doable for anyone who is reading this blog on a smartphone, laptop, tablet, or work pc. After you see the ease of saving a percent raise it up to 2%. Then 3% and so on and so on. Its an easy way to get yourself into the savings game.
Just remember that these funds are not to be dipped into. Not for beer, not for friends, not for Christmas.

Build a system.
Want wealth? Want to surpass simple riches and be truly, independently wealthy? There is a key concept to do that for you.
Build a System, that’s it. It doesn’t have to be mlm. It can be a franchise or an online presence based on your favorite hobbies. You may start an llc or get on Kickstarter and get some cloud funding for your favorite concepts you’ve been kicking around in your head. In any case your goal is to build a system. Have a plan. A written one. Have a guideline. Know the costs, revenue projections, long term needs and goals. Everything. Then put that all into a system and make it work. Sweat equity will take you the rest of the way for any dream. If you use an mlm model or direct marketing system that’s cool too. They work. They create millionaires daily. However a system must be implemented no matter what you choose. Systems, are akin to practice-they lead to perfection. When you work the system it works. Cliche sounding but eerily factual.

Pay less taxes.
This will make you infinitely wealthy. When you pay less taxes at any income level you are winning. Billionaire Warren Buffet pays less in taxes than I do by about 20%. Pretty sweet right? Oh, you think that’s unfair, you are entitled to that opinion but until the system changes wouldn’t you rather pay less taxes. Assuming you make 40,000 dollars a year and are taxed at 25% you lose 10,000 dollars right there alone. Then your fica, et al(those pesky deductions) takes a chunk too. However if you could lower your taxable income then you would pay less on all of these. One way to do so is to use tax deferred or pre-tax strategies. My employer offers pre-tax deductions for retirement, metrocards for public transportation, and medical expenses. Essentially you are putting aside, or saving (hint hint) beforehand which the government applauds and rewards. If not seek financial counsel. IRA’s, physical wealth, gold and silver will all be viable options to supplement your 40wk et al and possibly reduce your taxes.
Or start a home based business and garner all those tax deductions and itemized breaks Uncle Sam allots for. Remember its not cheating when the government has created a system to account for all these matters. Work with the government not against it. at the very least you will have more coin in your pocket legally and over the long term you will be wealthy and a lesser drain on the economy, government, and your fellow man.

DO.
This is the heart of it all. A good system, a great dream, even a winning team all mean nothing if you don’t DO.
Factual and concise, without effort you attain nothing in life. I don’t care if you hate Bonds and the steroid users (no implication of guilt, just trying to frame my ideas- sorry professional athletes.)- if they still didn’t work beyond their abilities to get to the top they wouldn’t be the best. Being the best means you work. HARDER. Being the best means you work when the other guy sleeps. You practice after you win the gold- Same night. Those who DO get wealthy. They aren’t just rich. Riches are fleeting and not guaranteed. A lot of people strike it rich off the lottery only to be dead broke, heavily in debt, or plain old dead. The wealthy stay wealthy.
A side note- wealth is also fulfilling your dreams. Not just having zeros in your bank account.

Disclaimer: All advice in this blog, whether fiduciary or otherwise is opinion unless otherwise noted. Seek licensed, and or certified advisers before making your decisions.

#thriveorsurvive.

“Happy are those who dream dreams and are ready to pay the price to make them come true.”~ Leon J. Suenes

Thoughts? Concerns?
Questions? Think I’m wrong?
Let’s chat.
Need ideas?
Want to learn how to invite?
Let’s chat.
Want a mentor or maybe the guy who will bounce ideas back and forth with you?
Let’s chat-
Tony@Changeinadvance.com
@changeinadvance
http://www.changeinadvance.com
Or simply reply to this article.

Your Feelings on Taxation May Indicate Your Success Ceiling

10 Oct

Your Feelings on Taxation May Indicate Your Success Ceiling.

Touchy subject, I know. And folks outright I’m telling you- pay your taxes!
No ifs ands or buts!
The issue I’m talking about today is fearing the tax man. If you play it straight there is no need. So let’s break this down a bit.
Also I’m not a licensed financial advisor so everything I state is conjecture and opinion.
Aka I’m not liable ;).

I have a coworker who does 90 to 100 hours of work a week. And that’s between two jobs. At his night job he’s a supervisor. And in the day he’s at the bottom of the pay scale. When I approached him with simple ways to raise his pay via union and or company related methods that were low cost he said ‘naw then I have to pay more taxes.’. He essentially turned down about 10 to 12 grand in extra income to do the same hours, same labor. I’m sorry folks but in my book that is the definition of insanity.
He has dependents.
He has a home.
His spouse has a home based business.
These are all great tax deductions.
Also he could make that money and have it go to pre-tax retirement funding or medical funding plans to offset future costs. See he would in essence be funding both his present and his future with the governments blessing. He’d also gain peace of mind and some extra coin in his pocket.
However he won’t do it. Which leads us to the next issue.

-Self imposed failure
Folks I’m not being mean. I’m not a jerk either. I just call an ace an ace and a spade a spade. What my coworker is doing is self imposed failure. Simply put that is when you are the author of your own disaster. Sadly this ruins more entrepreneurs than competition. Fear of taxes and the long arm of the irs is gutting people. Look at the coming elections and the current fear many business owners have. Taxes from healthcare, 75% tax brackets in france. People who can are avoiding it and saving wealth and others are simply self sabotaging. I personally am more scared by the fear. The only way to beat the system is to learn it’s rules. The tax code has ways to enable you. Get a great CPA. Not the local guy. Learn the rules. Life is chess not checkers and as such you have to move from that mindset and rule group.

-Owning your own business can help stave off taxes legally.
Lastly, if you are scared of taxes don’t be. Uncle Sam rewards those who give back by creating jobs. The people who become the stopgap are those who will be richly rewarded. When you make a greater effort there is a greater reward. Its that simple. Ever put your all into something?
What did you reap? I bet more than you did when you put in less effort. See Jeter, Jordan, Bloomberg and the rest. To get to the top you have to put your all in.
I have chosen the independent route. While I will keep my day job for now- I will be minding my business full time. It is the true way to survive. And while I’ve had a few failed options my learning curve has been tremendous. And all the while I reaped the rewards of tax benefits I earned legitimately. And its a good feeling. I earned income. I lost income. And I got tax breaks in all instances. It works folks.
If you step out of your comfort zone you will succeed.

Basically folks if you fear taxes you are living with a self imposed ceiling. You have literally told your mind and subconscious to program failure as the main option and catalyst. When fear becomes the strongest advocate your horizons shrink.
Let your life be more than that. If your tax bracket makes you feel pressure GOOD!!!
Pressure creates diamonds. Don’t let the fear of a small tax bill impede dreams of great wealth.
What is a million dollar tax bill to a billionaire? (And even that bill can be worked with via the United States governments legal tax code!).
See the point?

#findyourfuel.
#thriveorsurvive.

“Things work out best for those who make the best of how things work out.” -John Wooden

Thoughts? Concerns?
Questions? Think I’m wrong?
Let’s chat.
Need ideas?
Want to learn how to invite?
Let’s chat.
Want a mentor or maybe the guy who will bounce ideas back and forth with you?
Let’s chat-
Tony@Changeinadvance.com
@changeinadvance
http://www.changeinadvance.com
Or simply reply to this article.

Freedom is found in your Finances

24 Aug

Freedom is found in your Finances.

‘Lastly keep a keen eye on the finances. We’ll discuss that next time folks.’

Well folks that moment is here and I have a great set of ideas and facts to help you.
Keep in mind I’m no expert or licensed CPA and or FInancial advisor. I’m simply sharing what I’ve learned and encouraging you to seek out further growth and expertise from those who can shape your fiscal future.

Freedom being found in the financials is almost an oxymoron in most peoples minds. Money, taxes, costs and revenue are practically the devil when they should be a breath of fresh air to all moguls. The sad fact is the details that make money work are the very things that scare most people.

Now I’ve a got a few clues and a few ideas to get you where you need to be.
Let’s unpack this people.

Whether you have bills or not you need a budget. Start with your monthly income. Whether you work off the books or on you need to know what you take home on average. I recommend you work on the books as every dollar you make is bankable towards your future.
Add up your monthly income and arrive at a total. Next add your expenses up- cell phone, cigarettes, metro card, insurance groceries. Everything until you have a clear picture of what you spend monthly not just your bills.
From there see if the two number match or if you are running a surplus or a deficit.
Now let’s assume you bring home 3200 and your bills are 3100. In this case you have a small surplus. And it should be used to either build a safety cushion for future issues or to pay down current debt. If you see that cash as free money or mad money you won’t survive the next recession/depression. Sorry folks but we all need a plan. I personally save almost nothing- why? All my credit cards have a debt relief plan. Also you can’t erase debt on cc’s in a bankruptcy. However you can’t rebuild as fast as you can clear. Now I’ve never used this strategy. I don’t even recommend it but you see the use? What we need to do as business people is now the limits of our dollars. And to do that always pay your bills and debts first. I don’t care how small- pay the bills first! Next take what’s left and pay off more bills. Either remove debts or be ahead of debts. That’s sound financial strategy my friends.
Also, look for cheaper insurance and cell phone/ internet/ cable plans. Bundling may save you money. So look into it.

A few more points:

-A Good Cpa.
A good cpa will find you money and deductions not hide from the irs’ eye. Many tax preparers’ will tell you to take the automatic, minimal deductions for your business. However that helps them and their licenses’ not you. Remember you get what you pay for and the cheapest cpa/ tax prep person isn’t your best friend.

-Good software.
Good software helps. A LOT.
Why? Simple. The easier it is to track your expenses the better your records will be. The company I use shows real time usage, and deductions and links to ALL my checking accounts,credit cards, et al. This puts me at ease as I know I can be lax. I only have to input my customers, clients, prospects, and new team members as I meet and or sign them up. So simple, so freeing.

-Receipts.
Even with great software I keep all my receipts. I also mark the date in blank ink and any correlating data as well on the back of the receipts. If you sign a client or partner in a restaurant or bar you get deductions as well. So next—

-What you can deduct.
If you sign people at certain venues and certain cost points you will win. Meals, phone bills, office rent, and many more options are available to a serious mogul. Get your paperwork in order, get a real CPa and you will prosper. Remember spending money on you business is necessary. However losing money on a new or existing venture isn’t.

-Debt control.
Controlling debt, public and private is key. Know the difference. You can spend money on your business, for your business, and from said businesses credit when you set things up properly. Pay off the debts of any and all businesses first so you are in the green sooner. This will ensure you win.

-Spending is good.
Autoships, company letterhead, insurance policies, etc are all useful expenses. Not everything will get you a deduction but if you can legitimately spend a dollar to get your venture off the ground you will win!
Money spent on training, mentors, and advertising is well spent. So long as you don’t go to the person(s) who seems creepy or isn’t making you money.
In life and in business you need to spend money to make money so spend it wisely.

Bonus- Money comes with math and emotions.
So make sure your math, their emotions, and your emotions are all in sync. If not you are wasting time. You need to bond with people to create an empire. When you don’t you have nothing. Make a choice.

#thriveorsurvive.

“You will be what you put into this life.” Tony
“People don’t buy for logical reasons. They buy for emotional reasons.” — Zig Ziglar

Thoughts? Concerns?
Questions? Think I’m wrong?
Let’s chat.
Need ideas?
Want to learn how to invite?
Let’s chat.
Want a mentor or maybe the guy who will bounce ideas back and forth with you?
Let’s chat-
Tony@Changeinadvance.com
@changeinadvance
http://www.changeinadvance.com
Or simply reply to this article.

Aside

SMART TIP

12 Aug

See If NY Owes You Money: http://www.osc.state.ny.us/ouf/index.htm

Funds are out there and the go back decades for some.

#thriveorsurvive

Link

President Barack Obama will call on Monday for a one-year extension of Bush-era tax cuts for families earning less than $250,000 a year, according to a White House official, seeking to spare the economy the impact of taxes going up on Jan. 1.

9 Jul

Obama to Seek Extension of Bush-Era Tax Cuts (via cnbc.com)

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