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The Rich Dad Advisors are a team of business, wealth creation and wealth protection experts assembled by Robert Kiyosaki.


Introducing KenFlix

Getting Started with the Greatest Investment Ever

I am not shy in sharing my belief that real estate is the greatest investment ever, and that anyone can succeed in real estate. This belief mixed with my desire to teach has lead me to receive hundreds of phone calls and emails about real estate investing every week. It can be a bit overwhelming.

This is why I’ve created KenFlix. KenFlix gives you all the answers for real estate investing that I and my team have discovered after decades of investing and hundreds of millions of dollars invested. One of the more common questions I receive is about getting started.

How to get started is a great question. Most people fall on their face because they don’t have three things:

  • A clear set of goals,
  • A team, and
  • Knowledge of market trends.

Goals:

Goal power is the power you feel when you’ve set a target and you concentrate all your efforts on hitting it. It makes you focused. It makes you decisive. And it ultimately makes you successful.

Goals cannot be vague and must be measured. Goals must be realistic and attainable; otherwise they will either be shelved and never acted upon triggering feelings of failure.

I made a decision a long time ago not to risk my future on wishes and dreams. Instead I got smart and set goals.

Team:

Having a team of experts on call is not free and it’s not cheap. Those are the two biggest reasons why many inexperienced investors make a rookie mistake: They try to do almost everything themselves. Sure, they may save a few dollars in the short run, but they usually lose in the long run.

Without experts on your team, deals take longer to find, evaluate, and close, so there’s the value of your time and the loss of valuable opportunities. Do-it-yourselfers miss details the experts would see in a minute that can cost them everything.

An expert team limits your surprises and protects your investment.

Market:

The market is more important than the property.

The objective with market research is to get an accurate read on the supply and demand in the area. Supply is simply the number of rental properties available. Demand is the number people looking to rent.

There are three drivers of a market’s supply and demand. The first, and most important, is employment. It is a fact that population follows employment.

The second driver is population. People certainly go where the jobs are, but they also migrate to places that have certain persona or living experience built into the area. Look in markets where the population trend is growing.

After employment and population growth I look for location. Great locations have drive-by visibility. Great locations possess a one-of-a-kind quality. And great locations are in demand. This does not mean they are unaffordable. Affordability is everywhere, even in the ‘hottest’ neighborhoods.

Remember, real estate is the greatest investment ever, and that anyone can succeed in real estate, that means you. If you need knowledge and you want to learn from me, join my KenFlix community and get all of my knowledge for less than the cost of a book. You can learn more at www.kenmcelroy.com.

Happy Investing,

Ken McElroy

Reaching the Summit  Kilimanjaro image

Reaching the Summit Kilimanjaro

On August 12, 2013 in Tanzania… more than 9,000 miles from home… I, along with five other adventurous climbers, stood beneath the breath-taking shadow of the roof of Africa, Mt. Kilimanjaro, with one goal in mind – to make the 19,341-foot climb up the highest peak on the African continent. Without a doubt, the task that stood before me bordered on daunting – sending intermittent shock waves throughout my body. Countless hours of training and mental preparation had reached its zenith. Now everything would be put to the test.

Our arduous odyssey entailed a plan that included hiking the Shira Plateau route, a 7-day journey to the summit and after spending the night in its crater – a two-day descent down the Mweka route.

The diligent hiking guides who oversaw the group in which I traveled instructed us to take it slowly. The locals called it Pole, Pole (pronounced pole –ay, pole –ay) it’s Swahili for “slowly, slowly.” Our pokey pace up the mountainside was in many ways a blessing as it helped our bodies to acclimate to the higher altitudes, lack of oxygen and eliminating possible mountain sickness.

With the journey toward my destiny to the top of Mt. Kilimanjaro going well… fate’s fickle finger surfaced, deflating some of the natural highs I gained through the first part of the journey. At the Lava Tower camp, around the 15,000 feet mark, my body began struggling to adapt to the altitude and my appetite disappeared on that day; it was the beginning stages of mountain sickness. Burning an average of 3000 to 4000 calories daily my system had to re-adjust if I were going to make it to the summit. I had to eat to reenergize my body… or fail in my attempt to achieve my goal.

Engulfed by a blanket of pride, I recoiled from telling anyone about my struggles. After a few hours of internal conflict, I removed from the cover of pride and talked to our main hike guide Emmanuel. He promptly advised me that the antidote to my difficulties was eating as much food as possible – even if it meant forcing it down and subsequently regurgitating. I balked briefly at his advice before acquiescing.

Sure enough, dinner came quickly and so did some torment and anguish. I forced fed myself, made a mad dash outside our mess hall tent, curled over by the tent’s side and brought up all that I had consumed. After a few moments and the settling of my stomach, I started feeling much better. I was ready to continue my journey to the top of Mt. Kilimanjaro, but not before asking Emmanuel how he knew what I needed to do to overcome the onset of my mountain sickness. With a smile he reminded me that he has spent the last 10 years hiking up and down Mt. Kili. He said: “When you’re at that stage of mountain sickness, the people that don’t throw up don’t make it to the top. You would have gotten worse and then brought down. Most people fight it and don’t push themselves to eat. This is the worst thing to do. You gotta throw up”

The professionalism Emmanuel exude is priceless; not because he has university degrees, but because he has 10 years of experience and hundreds of climbs up Mt. Kili. His presence served as a great reminder why we hired the company, Berg Adventures to help us to get to the summit of Mt. Kilimanjaro. We hired the best.

My experience at the 15,000-foot mark was a stark reminder that teamwork and asking for help are two primary hallmarks for success and achieving your goals. If I had not used the available resource and try to continue my hike within my own silo, I would have failed.

Query:

How often do you refuse to ask for assistance? How often do we think we have to do it on our own?

Emmanuel and the other guides represented vital resources in our journey. They were the mentors we needed in order to make it to the top.

In the Business World:

  • Do you have an experienced mentor that you can go to for advice?
  • Do you have access to an entity that you can go to for assistance with your questions and challenges?
  • After getting advice, do you have the mental strength and discipline to follow through and execute even if un-mitigating circumstances surface?

In my effort to get to the top of Kili and achieve the goal, I had to force myself to eat. Every bite I took was terrible, and I wanted to stop. My little voice (what Blair Singer talked about in his book, Little Voice Mastery) was screaming at me to stop and just go lay down.

Throughout my ascent I had a choice: Do I ask or do I not ask Emmanuel for advice? Do I take his advice or do I ignore it? I was willing to follow his advice, and I am grateful I did. His suggestion put me back in the game. But the last of my challenges was yet to come.

A faint feeling enfolded me as I began to struggle with my breathing due to a lack of oxygen.

With the goal of making it to the top of Mt. Kilimanjaro a heartbeat away… every breathe I took required me to be present. My focus and my concentration were paramount. No longer could I daydream or let my thoughts drift. Killi now required everyone in our group to pay attention, breathe and take it pole, pole.

The higher we hiked the thinner the air became. The sparseness of oxygen near the majestic summit makes growing plants and trees impossible. As hikers struggled with their breathing the demand for portable oxygen mask grew… but getting one of these came with a price – foregoing the rest of your journey and begin your descent immediately.

How close; but yet so far!

The final five hours to the summit saw at least 20 people taken off the train and brought down the mountain. In a few instances… some were on stretchers and others just outright gave up.

With hikers falling by the wayside one by one… and with less than 5 hours to go before reaching the summit, it was sad to see the degrading countenance of those who came so far but failed. The physical, mental, and spiritual demands became more grueling as we got closer to the top.

For those still in the running, insecurities and doubt crept into the equation. Were we going to make it? Would we be carried down like those we just saw? Which one of us would be the next to fail in our attempt?

“Settle down Josh and breathe, everything is okay. Pole, Pole.” That was the mantra that echoed in my head, as we got closer to the summit. Our group of six included a family from Canada with two daughters… 18 and 20 years old. It was amazing to be side by side with them and to witness their sheer determination to reach the summit together as a family.

After a few more hours of hiking and quieting the internal chatter – We Finally Made It! Our group members celebrated, embracing each other at the top of the summit. It was a breathtaking sight as we perched above the clouds, having journeyed so far and overcoming the many obstacles that stood in our way. We had an infinite sense of accomplishment. We reached the peak of Mt. Kilimanjaro because we stuck together as a team and were open to the suggestions of our guides who provided us with invaluable insight and encouragement along the way.

Standing atop the roof of Africa, I reflected on the 7-day odyssey acknowledging the sacrifices and commitments made to get to this shining moment in life. However, I could not get the image of all the people that were carried down; their dreams dashed as their bodies or mental strength gave way. It made me reminisce about the times in my life when had I been so close … yet so far from reaching a summit in my life. I reflected on the amount of times I had given up and the number of times I was encouraged to get up and carry on.

As I stood high above the Serengeti looking out above the clouds, a rush of gratitude enveloped me as my eyes tear up and a little voice in my head said “thank you.” Why? I did not give in to my internal fears. I kept moving forward, even when everything inside was telling me to stop.

In retrospect, each of us has a summit to climb. As a result, it’s important to highlight our personal and professional summits/goals in life and resolutely strive to achieve them. For example, what are your summits as they pertain to health, wealth and happiness? Have you set the next target for reaching a dream your in life?

I recommend sitting down and writing down your next summit(s).

  • What is it?
  • Who will be on the team?
  • What’s your target date for achieving this summit?
  • And Why is this summit important to you?

Invest the time to map out the details of your pending summit. Chart your course… visualize what it will feel like when you reach the top. Imagine who will be there with you. And resolve to commit to going the distance – no matter the circumstance. Take it pole, pole…one step at a time… and don’t be afraid to ask mentors for guidance along the way.

To Your Continued Success.

Loopholes of Real Estate by Garrett Sutton, Esq. image

Loopholes of Real Estate by Garrett Sutton, Esq.

There is a world of real estate investing that the average investor rarely sees. Most people see the dirt, the bricks and the quick flip, or even the monthly cash flow. There is so much more.

When I started investing in real estate I did it just like most lawyers did, I bought low and sold high. I did not understand the specialness of real estate, the advantages that exist through loopholes the government has created or allowed to exist.

When I met Robert Kiyosaki I began to look at real estate as he did. I began to see the tax loopholes that made real estate great and the legal loopholes that required special attention to close in order to keep you and your property protected. I came to better understand the bigger picture of the world of investing. Robert taught me to see real estate as an investor, not just a lawyer. He said, “If you want to be a sophisticated investor, you must train your mind to see what your eyes cannot see.” What my eyes now see are the legal and tax advantages that real estate investing offers the more informed investor.

I wrote my new book, Loopholes of Real Estate to share these secrets. I wanted to share the loopholes that allow successful real estate investors to do it so well. 
You don’t have to be a genius to understand and apply these loopholes. You just have to be willing to follow a proven path toward success. Basically, you need to be smart about following what others have used to their advantage before you.

Most of you who know Rich Dad understand the importance of real estate for your financial freedom. But how many of you actually invest in real estate? I’ve found that while many of you know the benefits of real estate, lack of knowledge and fear stop you from taking action and freeing yourself.

Loophole of Real Estate gives you the knowledge you need to overcome your fear. To help even more, I added a section called “Get in the Game”. This section instructs how to create an investment plan, assemble a team of advisors, and choose investments.

In this blog, lets discuss your real estate game plan. For those of you just getting started, you’re wondering where to begin. And the answer is, with taking a good, hard look at your financial affairs in order to develop an accurate, comprehensive financial report card.

Step #1: Preparing Your Financial Report Card

You can’t move forward until you determine where you are right now. Unfortunately, this basic premise is overlooked by many investors, and it’s a crucial foundation for success.

Start creating your financial statement by developing an income statement that lists your monthly income and expenses. If you’ve played the CASHFLOW board game you’ll be familiar with this. Once you fill out the financial statement from the game with your own information you’ll know exactly where you are. To get a free income statement form go to: http://www.richdad.com/Resources/Tools.aspx#financial-statement

Your personal financial statement will bring your financial goals into sharp relief. You’ll see where your debt is concentrated or how to pay it down, and you might see where you could bolster your asset column. It may lead you to form a plan to decrease expenses or increase income. Some decide to downsize their homes in order to free up some money for investment, while others may opt to rent out their existing home and move to a smaller home to generate cash flow, increase passive income and decrease expenses. Only you can decide how to address your financial situation. Seeing your assets and liabilities in black and white will open up a lot of possibilities you hadn’t considered before.

Step #2: Setting Your Real Estate Goals

Passive income is the suggested method for growing wealth. It is not only the fastest method, but is also the easiest, because it means other people’s money, time, and energy are working for you.

If you’re like most people, your financial report card reveals that zero percent of your income is passive. So your first step is to determine what percentage of your income you’d like to make passive. Start with where you’d like to be one year from now, as well as a longer-term goal of five years from now. What would a reasonable monthly passive income goal be? $1,000? $5,000? $10,000? More than that?

Remember that your goals are dependent on what you’re willing to do to make them happen. Know that you can also recalibrate your goals down the road as you learn more and determine what works and what doesn’t.

You’ll want to determine something specific—how much you want to save, how much of an initial investment you plan to make, what you’ll do with that initial investment, and over what period of time.

For example, maybe you’ve decided that within six months, you want to save $10,000, which you’ll then turn around and invest into a piece of rental property by the end of one year. If this is doable for you, it’s a worthy goal. From there, perhaps, you might decide that within ten years you want to have five rental properties.

Beyond that, you have other decisions to make: What kind of properties you’ll invest in, where, and what to do with them.

The following are your numerous real estate options: • Single-family homes
• Condominiums
• Duplexes• 4plexes
• Trailer parks
• Apartments
• Commercial office space
• Commercial industrial space• Store front retail • Hotels
• Motels

Each of these has its own choices as well—apartment complexes vary in size, so are you interested in 20-unit complexes, 100, or more? Starter- market or high-end gated communities? High-rise office, strip-mall retail... your choices are plentiful.

Then you must decide where you want your properties to be. Are you looking for properties nearby in your town, in a neighboring town, in another state, near water, urban, rural?

Now, what will you do with the property? Will you focus on flipping and capital gains? Will you follow the Rich Dad strategy of buy, hold, and rent, earning both appreciation and cash flow? 


The Wisdom of Investment Specialization 


Because the real estate world offers so many options, it’s a good idea to focus on a particular area of specialization. For instance, you might become an expert in buying, holding, and renting small, one and two-bedroom apartment buildings in a particular area of town. Perhaps you used to live in an apartment in that area years ago and understand the needs of that community and that type of resident. Each geographic area has its own unique dynamic, its own zoning regulations and its own distinctive resident, so it’s a good idea to focus on one particular area. As you become an expert in one investment area, you will be more apt to learn another area quickly.

When you assemble your team of advisors, one of them will be your real estate agent. He or she will be an expert in one particular sector—the one you’re investing in—but most likely won’t be an expert in other sectors. For example, he or she might specialize in duplexes, but not strip malls.

So by sticking with one sector, you can retain the same team of advisors without having to seek others. And as far as your team is concerned, it’s best to find them, understand their strengths and use them as your investment vehicle. This leverages experience. When you’re ready to broaden your investment horizons, you can seek new team members.

Don’t let fear and lack of knowledge stop you. Get educated and follow these steps to getting started and taking that leap of faith. I wrote Loophole of Real Estate to help overcome fear and lack of knowledge, but you have to be the one who does it.

To purchase Garrett’s latest book, Loopholes of Real Estate, click here.

About the Author

Garrett Sutton, Esq., is the bestselling 
author of Start Your Own Corporation, Run
Your Own Corporation, The ABC’s of Getting
Out of Debt, Writing Winning Business
Plans, Buying and Selling a Business and The 
Loopholes of Real Estate in Robert Kiyosaki’s
 Rich Dad’s Advisors series. Garrett has over 
thirty years’ experience in assisting individuals
 and businesses to determine their appropriate
 corporate structure, limit their liability,
 protect their assets and advance their financial, personal and credit success goals.

Garrett and his law firm, Sutton Law Center, have offices in Reno, Nevada, Jackson Hole, Wyoming and San Francisco, California. The firm represents many corporations, limited liability companies, limited partnerships and individuals in their real estate and business-related law matters, including incorporations, contracts, and ongoing business-related legal advice. The firm continues to accept new clients.

Garrett is also the owner of Corporate Direct, which since 1988 has provided affordable asset protection and corporate formation services.

Personal Development image

Personal Development

Personal development: includes activities that improve awareness and identity, develop talents and potential, build human capital and facilitate employability, enhance quality of life and contribute to the realization of dreams and aspirations. The concept is not limited to self-help but includes formal and informal activities for developing others in roles such as teacher, guide, counselor, manager, life coach or mentor

Source: Wikipedia

Growing up, personal development was not a word commonly used – at least not in my circles. At school, they never heard the word personal development. My formal education focused more on memorization and compliance.

At home, my personal development was measured by how well I did in school. Good grades meant a reward and bad grades – punishment.

My challenge came in the form of my lack of interest in school and what the teacher had to say. At the time I felt that 90% of what teachers were teaching had no current value in my life. For example: school was not going to improve my video game skills. I needed to be left alone with the opportunity to practice on becoming a better BMX’er (Bicycle Motocross Rider). I wanted to learn about practical things like how to get a girlfriend… or even how to deal with my anger and confusion around my parents’ divorce. My interests were diametrically opposed to those of the school. We were miles apart.

With my parents’ divorce having a major impact on me… my mom took me to a therapist; she knew I was struggling and did her best to help me. Back then I only had one perception of a therapist – if you see one then something must be wrong with you. This myopic perception led to me keeping my sessions a secret from my friends. Eventually, I rejected the support and pushed the idea of therapy aside. Little did I know that years later…the concept of the therapist profession would be the catalyst for my journey to be happy, healthy, financially free and a Rich Dad Advisor with the opportunity to meet consistently with a team of personal development professionals.

Per a Robert Kiyosaki quote “Amateurs don’t have coaches, professionals do.” This principle resonates with me. I believe that individuals playing at the professional level have coaches around all the time. A coach offers support, encouragement, and provides honest/constructive feedback. And when the time comes for them to light a fire under you – they do.

My wife Lisa – business partner and Rich Dad Advisor – and I have built a team of professionals to support us in achieving our personal development goals… even though some of these goals and team members change periodically. Currently, our personal development goals are segmented into three categories:

Health
Wealth
Happiness

Each category provides us with a platform from which to work and cultivate our goals, strategies, and areas of interest for pursuit. For example:

  • Health
  • Personal Trainers/Crossfit
  • MMA (mixed martial arts)
  • Naturopathic Doctors
  • Prepared and Delivered Meals (if you eat out a lot, this is less expensive than you may think)

  • Wealth
  • Mentors
  • Rich Dad
  • Business Coach
  • Wealth Strategist (CPA)
  • Asset Protection (Legal)

  • Happiness
  • Therapist
  • Support Groups
  • Clearing Coach (dealing with upsets)
  • Seminars
  • Book Studies
  • Parenting
  • YPO (young presidents organization)

Through personal development, my life is richer. In essence, personal development is about the empowerment of the human spirit.

Build a team that will support you and emulate the best you. If you don’t like your current teachers and they are not encouraging you to be the best that you can be, fire them! In school I could not fire my teachers, as an adult, I can!

Align your teachers with your personal interests and goals. Build a team of personal development experts and take on the amazing challenge called life. In the process you will not only improve the quality of your own life, but also the lives of others – go for it!

To Your Continued Success

The Criminalization of Business Activity image

The Criminalization of Business Activity

Both federal and state governments have significantly expanded the number of rules and regulations which now constitute criminal activity. Whereas it used to be that knowledge of a crime was required, our government has taken short cuts to prove a crime, with the result being that more and more business owners are being ensnared in the criminal justice system.

As well, as America seemingly devolves into narrow self-interests and as companies actively engage in crony capitalism to the exclusion of their less well funded competitors, government becomes a crass tool for the politically connected. The money flows to politicians who use the levers of government to deny and harass the disconnected for the benefit of their campaign contributing patrons.

Our transition from a free-wheeling, open economy to one dominated by focused special interests is being noticed around the world.

America’s standing on the World Corruption Index has steadily declined to 24th out of 178 nations. In the top three spots are New Zealand, Denmark and Finland. Also ahead of the United States are countries such as Barbados, the Bahamas, Qatar and Chile. The group advancing the index is Transparency International. They define corruption as "the abuse of entrusted power for private gain." Are you pleased by all the Wall Street bailouts?

By including this information we are not trying to discourage you from starting and/or running a business. Quite the contrary, the country needs entrepreneurs like you to pursue great opportunities and employ others along the way. So please do not be deterred. But please also be realistic. Government investigations and raids are on the rise. Some are brought against bad people who deserve to go to prison. However, a certain percentage of these government actions are brought against innocent actors, who had no intent to violate any law. But as the government now writes the laws, intent is not a factor.

Could Your Tax Plan Harm Your Family? image

Could Your Tax Plan Harm Your Family?

We all know how important reducing taxes can be for our family finances, especially in these difficult times. But are some tax strategies better than others? Are there some that can provide benefits to our children for generations to come while others may actually hurt our loved ones when they need the money most?

The answer is a resounding yes!!! Most tax plans focus only on you and your current situation. Tax planners often don’t take into account the trouble that a temporary tax plan can cause your spouse, your family or even yourself years down the road. Let me tell you a quick story to illustrate this point.

John, one of my early clients at ProVision, was advised to defer as much money as possible into his retirement years by contributing as much as possible to the pension plan of his corner grocery store. It seemed like a great idea at the time. But years later, when his family needed the money after he died a sudden death, they found out that they had to pay enormous taxes use the money in John’s pension plan. In the end, this client’s temporary tax plan ended up preventing his family from living the comfortable lifestyle they were used to.

This all could have been avoided and the family spared this crippling tax burden if the client’s tax strategist had focused their efforts on permanent tax benefits. Don’t let this happen to your family. A ProVision tax strategy includes several ways to permanently reduce taxes so spouses and family members are not subject to huge taxes when their loved one dies.

Permanent tax strategies can include employing children and contributing their nontaxable wages to a Roth IRA, using a corporation to make medical expenses deductible and converting taxable income from ordinary income to capital gains.

US Army Special Operations Leadership Experience image

US Army Special Operations Leadership Experience

On April 6, 2013 I flew into Raleigh North Carolina to attend a 4-day US ARMY Special Operations Leadership Experience that was created by Scot Spooner with Reflective Leadership Solutions LLC. (http://www.facebook.com/reflectiveleadershipsolutions?fref=ts)

Scot is a retired US ARMY Special Ops that served in DELTA. He is the best in the world at what he does, and it was an honor to attend the event. I was very nervous to take on such an intensive leadership experience. I had been to many other leadership seminars, but this one was different and I felt it intuitively.

After the basic introductions, we ate dinner and I was informed about white and black status. “In White Status, we were relaxed and friendly,” explains Scot Spooner. “In Black Status, get your instructions from the board” as his faced turned very serious.

Josh Lannon with team at US Army Special Ops

It became very clear that things were about to change. For our control freaks in the group, not knowing what was next was nerve racking. We organized our gear, AND settled in the living quarters awaiting the next instruction.

At 2200 (10pm) a Special Ops instructor Blake walks in and announces “We are now in Black Status. Get your instructions from the board”.

When: 2300
What: Ruck (40 pounds without water), Boots, Headlamp
Where: Starting Point

Note: a ruck is a military backpack. In this case, we loaded it with a 40 pound sand bag.

And from that moment on, the training did not stop.

This event consisted of 9 CEO’s that are very driven and successful in their fields of practice. Many of us thought training with the USA ARMY Rangers, Green Berets and DELTA guys would be a great opportunity.

We talked about why we signed up for the event and said, “We wanted to get pushed beyond our own limits and learn from the best in the world”.

That all sounds good and dandy, but did we really know what that meant?

The idea of wanting to go beyond our own limits vs actually doing so…is a HUGE Grand Canyon difference.

Were we there just to play soldier? Were we the weekend warrior that by signing up for this event could give us bragging rights at cocktail party?

Or did we really want to experience, at a small scale what it was like to BE an elite Specials Ops soldier?

Those thoughts began to come up as it was late, we were tired from traveling with the 50-pound ruck (after water), our rifles and other gear was uncomfortable and heavy.

The reality of what we really had to do was in front of us. This was not going to be happy camp with 9 CEOs’ running around playing soldier. The Special Ops community was not going to rip us off. We were beginning to experience the process, of what it really took.

As we lined up at the starting point with our 50-pound rucks on, we were given the next set of instructions.

Gentlemen, this is a non-talking and un-timed event. You will be assessed on your individual performance. Follow the glow sticks into the forest. Keep your headlamps off unless it’s an emergency. Continue rucking until informed to stop… Ready Go!

Here we are, marching off into the unknown. Not knowing what the measurement was to pass, or to fail. Not knowing the distance, for how long and if we were even allowed to take a break.

The 9 of us started off, a few started running ahead, others grouping together and the remaining falling behind as the line lengthened into the darkness.

As we were “rucking” into the unknown, mile after mile the sexiness of being a soldier … shooting, blowing stuff up, jumping out of helicopters was coming to an abrupt end. This sucked! Yep, mile after mile, after mile… Was this what being a soldier was really like? Marching off into the unknown, not knowing for how long or even why?

Our minds were racing, questioning everything.

This is just like becoming an entrepreneur, many people talk about how cool it would be to own their own business. Glorifying all the fun parts of opening a business.

The reality is, when starting and operating your own business; you will be faced into the unknowns. You will get to put on your 50-pound ruck late at night and march off.

This is the reality of business ownership. The assessment and selection is for you and you alone to judge. Should I run? Should I walk? How long till I get a break? Can I give more? What should I do?

This is the process to becoming a successful entrepreneur.

Like in the Special Ops community, so many “want” to be the best, but the reality is, very few make it.

Are you one of those select few men and women that have what it takes to join the elite group of Entrepreneurs?

Is the drive and commitment to your mission…to your vision, stronger than the 50-pound ruck? Can you go mile after mile when no one is around?

Are you up to the challenge… the experience… the process?

If your answer is yes…. its time to “soldier up” put on that ruck and march on!

It’s worth it!

FAQ About Registered Agents image

FAQ About Registered Agents

Most professions offer some kind of continuing education. By state or industry rule the courses are required for professionals working in medicine, accounting, law, engineering and other fields. In addition, many industries have their own trade shows and conventions or conferences and seminars, where you can go and meet people who do what you do, attend panels with experts in your field, network and catch up on what's going on in your professional world.

If you travel to attend continuing education seminars or conferences in your field, the same rules for business travel apply. You also need to have a purpose in mind before you go. If you happen to be on vacation and there's a seminar in the area, you can probably deduct the cost of registration, but the rest of your travel expenses won't be deductible.

Internal Revenue Code Section 162 allows you to deduct 100 percent of your expenses for business-related seminars, including your registration, meals, lodging and transportation costs. The corporate entity takes the deduction and the costs are not considered part of your income (so you're not taxed on the benefits.)

Your corporation can also deduct the price of magazine subscriptions, so long as the magazines are for your industry, and you can deduct the cost of membership in professional organizations in your field. If your profession requires periodic testing and licensing, your entity can pay those fees and deduct the costs as well.

If you're looking to learn more about your chosen field, the Internal Revenue Code Section 127 allows you up to $5250 in educational assistance each year for educational expenses, which is also not included in your gross income.

Get smarter and deduct it.

IRS Scandal – What does it mean to you? image

IRS Scandal – What does it mean to you?

This week the news has been all about the IRS scandal. I thought you might want a little of the inside scoop and what it means to you as a taxpayer.

The allegation is that IRS personnel intentionally delayed the processing of tax exempt applications during the most recent presidential campaign for any organization with the words “Tea Party” or “Patriot” in their name. The result was that these organizations could not enlist people to donate funds to them and therefor they couldn’t assist in the campaigns of conservative politicians.

Of course, if this is true, these actions are reprehensible. There must be some fire under the smoke, given that President Obama immediately fired the commissioner of the IRS (the head guy). This will set the IRS back on its heals for quite awhile. They probably will lose funding or at least not get any more funding.

In addition, they may tend to be a little more lenient towards taxpayers. I’ve thought of changing my middle name to “Patriot” since the IRS could bend over backwards now for the conservatives (just kidding of course).

What we can be sure of is that the IRS will tend to be a little more gentle for awhile at least. This doesn’t change the fact that you always need to be sure that your tax preparation is done in such a way that it could withstand an audit. Nor does it change the fact that you should never take a position on your tax return that wouldn’t likely be upheld in court. Still, it will be interesting to see how the IRS reacts to this. I suspect we just may see a kinder and gentler IRS for awhile.

Education and Tax Considerations image

Education and Tax Considerations

Most professions offer some kind of continuing education. By state or industry rule the courses are required for professionals working in medicine, accounting, law, engineering and other fields. In addition, many industries have their own trade shows and conventions or conferences and seminars, where you can go and meet people who do what you do, attend panels with experts in your field, network and catch up on what's going on in your professional world.

If you travel to attend continuing education seminars or conferences in your field, the same rules for business travel apply. You also need to have a purpose in mind before you go. If you happen to be on vacation and there's a seminar in the area, you can probably deduct the cost of registration, but the rest of your travel expenses won't be deductible.

Internal Revenue Code Section 162 allows you to deduct 100 percent of your expenses for business-related seminars, including your registration, meals, lodging and transportation costs. The corporate entity takes the deduction and the costs are not considered part of your income (so you're not taxed on the benefits.)

Your corporation can also deduct the price of magazine subscriptions, so long as the magazines are for your industry, and you can deduct the cost of membership in professional organizations in your field. If your profession requires periodic testing and licensing, your entity can pay those fees and deduct the costs as well.

If you're looking to learn more about your chosen field, the Internal Revenue Code Section 127 allows you up to $5250 in educational assistance each year for educational expenses, which is also not included in your gross income.

Get smarter and deduct it.

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