Monday, December 28, 2020

Retirement funding...

This month, I’ve been spending a lot of time discussing retirement accounts.  It’s no secret, and it’s for a good reason – most Americans don’t know where they’ve put their 401(k) funds. 

Seriously. When I was still in the workaday world, I would ask my coworkers about their investment strategies and they either knew exactly what they were doing or nothing about it at all. 

Some folks bought because they liked the company, or their parents had worked there, or they liked the way the prospectus was laid out. 

Very few times did I receive answers that could be regarded as “informed.”

Take the term “growth” in mutual funds. 

A lot of employees assume that “growth” is going to result in higher earnings, and it usually isn’t so.  Yes, the companies in the fund are “growing” but the usual result is a lower dividend. 

…And potentially lower “perceived” value from investors, keeping the value of the fund down. 

It’s great for investors making the long play, but maybe not so good for building value in a 401(k). 

Of course, the biggest problem with company-based 401(k)s is they are rarely administered by the company, usually that’s handled by another company contracted to do that. 

…And those guys rarely have a fiduciary responsibility to take care of that business’ employees.  Instead, they want to push “their” portfolio into the employee pool to drive the value of the overall investment higher. 

And make money.  Whether that employee makes any.  Whether that employee can ever afford to retire. 

A lot of you guys – myself included many years ago – bought right into this scam. 

It’s time to “buy” out it!

There’s never been an easier time to get educated on your options for retirement and it’s really never been easier to invest in the specific platform you feel most comfortable with.  Just as critically, I HAVE to strongly suggest that 2020 should have proven to you how little many companies’ care for employees. 

If there was ever a situation that required employees to become smarter about how they can control their own destinies, this is it!

There are dozens of ways to create the retirement you want, but they all begin with one thing – the capital to enjoy it. 

Having that capital begins with understanding who you have investing those funds and having faith they are truly acting in your best interests and growing YOUR money, not just their bank accounts. 

There are loads of ways to do this and when you’re ready to get started, my team and I are here to help you get pointed in the right direction. 

Let’s make this a GREAT 2021!

IMPORTANT: Our firm specializes in tax resolution. We also serve clients virtually so don’t hesitate to reach out.  If you want an expert tax resolution specialist who knows how to navigate the IRS maze, reach out to our firm and we’ll schedule a no-obligation confidential consultation to explain your options to permanently resolve your tax problem.  Make an appointment here!  Or, call Toll-free 1-855-254-1892. 

Tuesday, December 22, 2020

This month, I’ve been concentrating on more intangibles within the ideas of busines success, but before you get toooo critical of me, let me explain my logic:

2020 has changed a lot of things for a lot of people.

If you’re still trying to do “business as usual” with an unchanged model – maybe the same one you opened up with in 2020, then your days are numbered, and that’s the point of this email. 

It’s to point out that the companies and individuals who have thrived in this year are those who have critically analyzed how they do business or how they approach the operations of their business to ensure its survival.

In many cases, as I’ve learned from talking to scores of them, they di that by rethinking how they spend time. 

An “easy” example is this one:  do you mindlessly scroll through your social media feeds each day, or do you actively target other “scrollers” through your marketing plans and advertisements?

In other words, are you creating things for others to consume or are you consuming things others have created? 

One will bring leads into your business, the other will keep you from making money. 

…And it’s not just social media, either, it’s how you show up in your hometown.  Do people know what you do?  Have you boiled down the core of your business into something that can be easily consumed by a public that has a shorter and shorter attention span? 

“I move entrepreneurs from frustration to freedom,” is one I saw and liked from a digital marketing agency recently, and – obviously – it stuck with me. 

Do you have that “blurb” that captures a potential lead when they see it or hear it?  Do you believe it, too?   

A month or so ago, I shared in my emails about being clear on your dream – the founding idea of your company – and this sort of statement is very much a part of that.  The two ideas are linked, and they are critical for you as an entrepreneur. 

…But do you feel them? 

After all the craziness of 2020, do you still feel that burning desire to change lives? 

To make an impact? 

To create and live your life on your terms, not those dictated to you by the government, or a boss, or a mindless career job buried in some kind of cubicle Hell?

If you do, then I suggest you continue to monitor how you let minutes slip away and always focus on creating, not consuming. 

Create a family that’s a team, create a business that’s a family, a marriage that’s unbreakable, friendships that will be lifelong. 

Be better, and refuse to allow yourself to get sidetracked from your goals by living vicariously through what social media tells you is relevant. 

All the best-

P. S. …And if you find yourself wondering how to “jump start” this whole process because you need to sort out advertising, take heart!  There are a lot of ways to find that money, and if you’re struggling with it, let’s sit down and talk about budgets for your business and the potential tax benefits and rewards of a properly built marketing plan. 

IMPORTANT: Our firm specializes in tax resolution. We also serve clients virtually so don’t hesitate to reach out.  If you want an expert tax resolution specialist who knows how to navigate the IRS maze, reach out to our firm and we’ll schedule a no-obligation confidential consultation to explain your options to permanently resolve your tax problem.  Make an appointment here!  Or, call Toll-free 1-855-254-1892. 

Monday, December 14, 2020

Going out (of 2021) with a bang!

 

First of all, I completely understand how the holidays and the end of a year like this one can lead to boatloads of stress and overwhelm, but just stick with me for a few minutes…

2021 is coming, and the rules, even though they seem to be in flux in a lot of places, still apply. 

Right now, you’ve got to make time to ensure that things like any charitable contributions, retirement accounts, and maybe even basic bookkeeping are all sorted out and caught up. 

Plenty of times, as the calendar begins to push into the last few weeks of the year, shrewd operators are looking and calculating when some work needs to be fulfilled – do you ship in the last week of December or wait until the first week of the New Year?

Of course, some of this comes down to how you have your accounting set up – cash or accruals – but, since we’re operating in an unstable environment (and likely will be for some time), it might be a great idea to sit down and discuss how your business handles and documents income. 

I’ve given this kind of advice several times this year to business owners with a wide range of profits and I stand by it:  our economy is in flux and a lot of money is “out there” so how your business holds on to it will impact your success.

This isn’t just “tax” advice, either!  Companies who can act quickly because they have cash reserves are going to be able to negotiate better deals for themselves. 

Companies who are forced to rely on credit for capital purchases are going to be in trouble. 

There’s a third category here, too, and that’s those savvy business owners who are flush with cash and have the negotiating power to use that capital to secure expansion, not just spend it. 

Case in point?  I know of one business owner in southern California who was able to personally secure his business expansion, but to do so by bringing in investors with their own capital who knew his plan would work. 

Those investors put up money, but he didn’t – he simply shared his systems with the investors in a careful, well documented way that expand his potential profits while avoiding many of the pitfalls of traditional franchising. 

As the world and the economy moves int o2021, I think this is something we’ll see a lot more of, and that brings me to my message in this email:

You can grow your business, and you can do it easily, but it’s going to take creativity to do it now and for the foreseeable future. 

It’s also going to take a partner with a sound knowledge of how your expansion will impact – and be impacted – by the tax laws (both those we have now and the ones that are sure to be enacted in the coming months by our new administration.)

Pick up the phone and let’s schedule a call to dig in to those plans and goals and see exactly what you can and cannot do – and how easily you can set yourself up for success.

IMPORTANT: Our firm specializes in tax resolution. We also serve clients virtually so don’t hesitate to reach out.  If you want an expert tax resolution specialist who knows how to navigate the IRS maze, reach out to our firm and we’ll schedule a no-obligation confidential consultation to explain your options to permanently resolve your tax problem.  Make an appointment here!  Or, call Toll-free 1-855-254-1892. 


Thursday, December 10, 2020

Don’t Let it Overwhelm You

We’re in the holiday season, and I hope it’s finding you well!

As you know, though, my team and I meet and discuss all manner of things, both personal and professional, with clients simply in the course of doing business, and more and more often, as 2020 grinds on, the biggest challenges we’re seeing is the hardest to deal with:  fatigue.

A “two week” lockdown to flatten the curve has become a seemingly never-ending process, and even the most astute business owners I work with are simply exhausted from the sheer willpower that has been needed to “make it through” 2020.

So while this email isn’t necessarily about “tactics” you can use, it is about one thing I want every one of my clients to do:

Keep going!

As we begin the last few hurdles to 2021, I’ve got one message:   Just. Keep. Going.

I get it – We’re all exhausted from “pivoting” and “falling forward,” talk of the “new normal,” and a drawn out and contentious presidential campaign, but if you think of the incredible amount of work you’ve done this year, the simple fact is you’ve done years’ worth of evolving as a business owner in less than 8 months. 

I’m proud of what my team has done and you should be proud of what yours had accomplished, too. 

So let’s talk about a couple things really quickly…

First of all, no matter how “pooped” you are about the pandemic, it’s not going away anytime soon, AND you’ve adapted a lot in these last months. 

Now what? 

Well, now, at the end of the year, you need to think about what you want from your business in 2021.  Not to worry, I’m not going to push you for a lot of goals and numbers and percentages, but I am going to ask you to think about things that you really didn’t like this year in your business, because right now, you have the chance to change how those impact you in 2021.

Was it hard to find good people this year?  Yes it was!  On the other hand, one of the most astute observations one of my clients made was that he had focused on “good people” for too long to do jobs in his business that “average people” could do … with great training.

He’s redesigned his hiring and training processes to do just that.

We’ve seen similar creativity being used by nearly all of our clients this year, whether it was about finding new markets, maximizing returns, minimizing contact, or simply fighting to stay open for business. 

You can make it.

You already have made it. 

2021 isn’t going to be easy, but it’s nothing we already haven’t handled.  

Just. Keep. Going.  

IMPORTANT: Our firm specializes in tax resolution. We also serve clients virtually so don’t hesitate to reach out.  If you want an expert tax resolution specialist who knows how to navigate the IRS maze, reach out to our firm and we’ll schedule a no-obligation confidential consultation to explain your options to permanently resolve your tax problem.  Make an appointment here!  Or, call Toll-free 1-855-254-1892. 

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