Have you heard the pseudo ancient Chinese curse, “May you live in interesting times”?  It seems that it has never actually been proven up as an ancient Chinese curse, but 2009 has been one of those years…

So as we head into 2010, I propose that we focus on the positive parts of living in interesting times.

While during tough times it can be difficult to grasp why we’re going through what we’re going through, how we choose to get through difficult times defines who we are.

Watch for Opportunities

Now is the time to look for those rare opportunities that only present themselves during times of upheaval.  Fortunes can be made, if only you see the signs and then have the fortitude to follow those signs.

Don’t Let Politics Get You Down

The political-economic climate looks as though it will get way more “interesting” in the coming year.  Becoming paralyzed by fear of the unknown will get you nowhere.  Instead, this can be a rare opportunity, if only you recognize it as such.

What opportunity we see will be different for each of us, but the important part is that we don’t hide because of fear.

My Coming Year

Within my business, I will be working to bring better education to my clients.  I will be working on innovative solutions for my clients to continue reducing their financial burdens, through lower-cost business solutions and new ways of reducing their tax burdens.  Just that will keep me busy as we continue to see more and more business taxes.

And I will be working to offer the best service available in my industry so that my clients see the value in my services.  I know that each of my clients is working to find ways to protect their dollars; I want to be one of the services that they decide to keep.

Within my financial life, I will be looking for opportunities to build my wealth.  While others are holding onto their income out of fear of what is coming, the successful understand that this is the time to invest.

Within my personal life, I will continue to offer support and encouragement to those in my community, as they find their way in these “interesting” times.

Keep Moving Forward

Whatever area of life you are looking to improve, you won’t move forward if you don’t keep moving.  Certainly you take a chance at moving in the wrong direction.  But as long as you keep a clear mind and don’t allow the fear to grab you, you will be able to recognize the road signs.  If you see that you are headed in the wrong direction, simply turn around and get going again.  That is better than not moving at all.

Happy New Year

May 2010 bring you happiness and success in all of your endeavors.  Maybe that’s a better saying than “May we live in interesting times.”

And thank you for all of your support and interest and questions throughout 2009.  I look forward to writing for you in 2010.

As we approach the end of the year, we tend to get caught up in thinking about holidays and family and shopping. One thing that we often forget about is tax time.

While planning for taxes is something that business owners should be thinking about all year, it’s especially important as the year comes to a close.

You do still have time to make some important choices for your tax planning.

What to do with Profits

If you have profits, you can use some of the tax-deferred programs available, like retirement funds and annuities. Some programs are not good choices for setting up at the end of the year as they require steady deposits throughout the year, but there are others that you can start at the end of the year.

You can also use profits for things like paying ahead on your business bills. You can possibly pay ahead on office rent, utilities, postage, and other office expenses.

You might also be able to pay bonuses, which is why many businesses pay out Christmas bonuses.

Find an Accountant You Can Trust

With the help of a good accountant and bookkeeper or a good financial planner, you can make good use of the profits from the year and even this last quarter.

A good accountant* will also help you look towards next year and what you can do to lower your overall tax liability.

While a tax preparer knows how to prepare your tax return, he may not be a good choice for your business if you are looking to make smart choices before you get to the preparation part. Once you are at the preparing stage of your taxes, you aren’t able to change anything.

Plan Ahead

Planning ahead can help you and your business take advantage of all of the tax codes and lower your taxes.

Be sure to ask your accountant if he will help you plan ahead. Don’t forget to ask what he charges for consultation in addition to actual tax preparation.

Also look for an accountant who can talk to you in language that you understand. Of course we want our accountant to know all of the technical stuff, but it makes learning really tough when our accountant can’t explain anything to us in layperson lingo.

An accountant who’s willing to talk to you throughout the year and not just at tax time can be an important part of your business team.

*If you don’t have a good consultative CPA to advise you in your tax planning, call NSI to schedule an initial consultation with our tax team.

Suze Orman’s 2009 Action Plan

You may download your free copy of Suze Orman’s 2009 Action Plan. She offers solid financial advice that may be appropriate for you or for someone you know, and the book is worth having as a reference. Just click on the link and follow the directions. Remember: You have only until midnight on Thursday to take advantage of her offer!

Suze Orman’s 2009 Action Plan

She offers solid financial advice that may be appropriate for you or for someone you know, and the book is worth having as a reference. Just click on the link and follow the directions. Remember: You have only until midnight on Thursday to take advantage of her offer!

December 23, 2008, Brad Sugars posted a great column on Entrepeneur.com, Top 5 Mistakes in Forming Your Corporation. The column has some great tips to consider when starting a corporation or LLC.

You have many considerations when deciding to run your business as a corporation or LLC as compared to a sole proprietorship, but it doesn’t have to be a frightening decision. With the help of an experienced team, the transition from sole prop to formal entity can be much simpler and save your time for doing what you do best: your business.

If you have questions after reading the article, don’t hesitate to contact us at 866-663-5224 or email us at: info@nexstepinnovations.biz

We are sure everyone has heard about those little things called Wills. Wills have been around for years. You’re also all aware that smart legal people have been building people’s faith that Wills keep family heirlooms in the family. And of course everyone understands how gracious and kind-hearted those smart legal people are to make Wills affordable for everyone. We all buy into this right? WRONG, only those who have NOT been punched in the kisser by Probate Court still buy into this grand deception that Wills are the best tool to pass your assets on to your heirs.

We at NexStep Innovations have heard the stories of probate court told so many times; they are all devastatingly sad, riddled with family assets being liquidated to cover estate taxes, loved ones coming to blows over who got what or suing each other over dollars, families financially ruined due to the cost of having a smart legal person represent them in probate court.

The Secret Truth: A Will is a bunch of useless papers. It doesn’t prevent the estate’s assets from being frozen for months or years. It doesn’t provide clear direction for the distribution of assets. A Will can be contested by beneficiaries. A Will doesn’t give medical people directions in emergencies when loved ones are emotionally unable to make clear medical decisions. A Will doesn’t provide for additional beneficiaries. A Will doesn’t provide a roof, clothing or food for minor children. It doesn’t protect from divorces or future divorces, and estate assets are not protected from legal actions.

Wills are cheap for a reason; smart legal people make more money representing your beneficiaries in probate court than implementing strong legacy planning. So it may cost you $99.00 to have a legal person draft a Will; however, it can cost Thousands for that same legal person to represent your beneficiaries in court.

Many people out there don’t know what probate court is, so we want to briefly explain. Probate Court determines the total value of your assets after you are no long living. The Court will then determine the total amount of estate taxes the estate will pay and bill the estate for the service of determining the total value of your assets. The Court will then liquidate whatever assets are needed to cover the owed taxes, court fees and your family’s smart legal person’s fees.

NexStep Innovations LLC believes that the fundamental intentions of a Will are good; however, the implementation, protection and misrepresentation by the legal person of the Will are bad. In truth we do not promote one specific vehicle for everyone when it comes to building and protecting your assets. We believe in creating customized strategies that are specific to you, your beneficiaries and your assets.

If you wish to discover the best ways to protect you, please contact us.