Can You Become a Millionaire in Real Estate?
Short answer? Of course! If you have a millionaire mindset you can become a millionaire by training dogs. I know somebody doing it. No joke. Keep in mind, too, that being a millionaire is not what it once was when the term was invented in the mid-19th century, anyway. Once you’re in the groove of […]
Running Your Numbers
This is how I like to look at it. The art and science of creating usable financial reporting is also known, in my experience, as running your numbers. The verb gerund ‘running’ works well here in the context of acquiring useful information to measure the success of your business. I like it because of the […]
Why are Quarterly Estimated Taxes Not Actually Quarterly?
Oh, if wishing made it so. With the third quarter Estimated Tax deadline safely behind us (it was last Thursday, the 15th) our thoughts turn to the madness of the uneven deadlines. You remember when they are, right? I beat this expired equine mammal into the ground on a frequent and continuous basis, but let’s […]
How Do You Know the Value of Your Business?
Good question, right? There is a good answer, and it’s probably not what you think. You may have already guessed, “Well, I’m pretty sure it’s not the amount of money in the bank at any one time.” And you’d be 110% correct. Just because money goes out to pay for a […]
Why the 3rd Quarter Estimated Tax Payment is Important
First of all, let us clarify what the 3rd quarter Estimated Tax Payment IS. There are 4 Estimated Tax Payment deadlines every year, and they land on the 15th (or the next following weekday of: April (same as the 1040 deadline for the previous year) June September January of the following year. That makes Thursday, […]
Work to Live, or Live to Work
That is the question. Hamlet would go on to say something about the nobility of suffering for the sake of outrageous fortune. Or contemplate the attraction of just giving up and going to sleep. Forever. But of course, no getting around this: Hamlet was a drama queen. Plus, if you ever think checking out for […]
The Business of Succeeding in Business
This is not just an empty title, folks. I’m actually going to tell you something that will help you. Assuming, of course, you’re one of my fellow entrepreneurs. I have a way to put this that may not be terribly original, but intended nevertheless to be my personal mantra, credo, and mission in life. My […]
Why I am Always Ready to Arm-Wrestle with the IRS
You work hard for your money. More importantly, you bring a unique expertise, and most likely a very valuable body of experience, to whatever your business is. The IRS will never admit this in one of their many bulletins or procedure updates, but they are in the business of confusing the taxpayer. They are legally […]
The Energy of Money and Business
Everything has energy. In fact, everything IS energy. Blame it on the Big Bang. Hell, the universe is STILL hurtling outward from the point of creation. Both physicists and theologians agree on this, though their paths to their divergent enlightenment look different. We are all just the space between sub-atomic particles, condensed to a slow […]
You Are Your Golden Goose
Right out of the chute, we need to be clear about something. There is a fairy tale by the Brothers Grimm called The Golden Goose, and it has nothing to do with golden eggs. Say what? This is an easy misunderstanding, once you get it. In their story The Golden Goose was actually made of […]