Expert: Patrick Munro
Contact: www.northstarnavigator.com
Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace.
Filmmaker: Reel Media LLC

Duration : 0:1:17

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While 90% of the U.S. population is bemoaning the quickly approaching April 15th tax deadline, I am waiting for my gift from the IRS. I big fat refund. How you ask? I take advantage of the one last tax shelter available to the average person. Before I tell you my best tax tips for 2006, I’d like you to be aware of a couple of things.

First, do you realize that what you pay in taxes each year is your number one expense?! In fact, the average employee works the first five months of the year for Uncle Sam for free. How does that make you feel about going to work January through May?

Second, most people think the way to have more income is to get another job. Adding a second “job” to increase your family’s income is in most cases a bad idea. Especially, if it pushes you up into a higher tax bracket! You basically sign up for even more taxes, increased car expenses, childcare costs, food and clothing costs. This doesn’t take into consideration the physical and emotional stress added to families by having both parents working outside the home. You can’t even put a price tag on that expense.

Here is an absolute fact. You will never make true steps toward financial independence until you learn how to get your taxes down to the legal minimum.

So, now I’m back to my top-secret strategy. Drumroll please…Own a home-based business. I am a CPA, and I am here to tell you that if you do not have a home-based business you absolutely need to start one today! I can not overemphasize the importance. The tax system for the “employee” will keep or make you poor. The tax advantages for small business owners are designed to spur economic growth. It can be your ticket to begin creating wealth.

Conservative estimates say that you can save a minimum of $2,000-$10,000 a year by having even a part-time home-based business. Let’s say that having a small business puts $4,000 a year back into your pocket (on tax savings alone) for 30 years and you invest it each year and earn 8%. You will generate over $500,000 just from owning a home-based business. That doesn’t include any income you generate from the business itself. Invest your $4,000 in tax savings for 35 years, earn 10%, and ladies and gentleman you are a millionaire!

The question is how do I take advantage of this wonderful opportunity the IRS has handed us on a golden platter? My first suggestion is to look for a business that incorporates something you are passionate about. My second suggestion is do your homework. Determine how much money you can invest, how much time you can spend and what kind of skills will be necessary.

This may shock you, but Donald Trump and Robert Kiyosaki in their new book, “Why We Want You To Be Rich,” actually recommend network marketing. For the average person the network marketing industry offers benefits that far outweigh the risks. There is usually a very low start-up cost and ongoing overhead expense. You begin to learn how to leverage time and money. This lesson, along with minimizing your tax expense, is arguably the most important to learn if you want to achieve financial independence.

That subject is a whole other article. A good way to explain it, though, is to work smarter not harder.

Finally, a good network marketing company already has all the systems, marketing materials, accounting and training in place. This is invaluable to the first-time business owner who does not want to take on a lot of risk.

Once you are up and running, you now have a whole new world of tax deductions available to you. It is like Christmas every April 15th. With the proper planning and documentation, you can deduct your home office, computer, phone, car, vacations, some meals and entertainment, even your child’s college education cost all completely within the legal parameters of the IRS regulations.

What is required of you is some education, documentation and a home-based business of your choice! So, when you sign this year’s return and mail in that check that feels like squeezing blood from a turnip, compare your return on that to the $500,000 to $1 million you could grow from home-based business tax advantages.

If you would like a FREE 30-minute consultation with Holly about how you can begin to take advantage of these tax benefits, please visit her website and submit a request. She can also be reached at 918-698-6674.

Holly Beitel
http://www.articlesbase.com/home-business-articles/tax-tips-for-2006-2007-this-will-shock-you-127459.html

Free or paid, debt consolidation services are debt consolidation services, right? Wrong! More often than not people fall into the trap, the reason being incomplete information on the industry and inadequate knowledge on how the industry runs. But before we proceed further into the discussion, we must also take into notice the underlying factors that are compelling people to opt for the free services more than the paid ones, the first among which being the high prices taking toll on the customers.

High debt levels and defaulted payments being the prime reasons behind opting for these free services, there are instances that proved a large number of consolidation services to be nothing but scams; however, the silver line is that honest and reliable companies exist, based on whose goodwill the scammers proliferate. Therefore, instead of finding out which is which, it’s always better to keep the free services, unless it’s a direct Government undertaking.

A debt consolidation service is the last straw before one applies for bankruptcy; according to the bankruptcy reform bill, debtors hold the right to participate in credit counseling services or programs. The legitimate and free consolidation services thus help to restore a debtor’s credit.

Debt consolidation services work to grant the debtor the space of making one monthly payment instead of multiple ones; these services pay off the existing creditors and breaks the amount in equal monthly payable amounts that neither does appear hefty to the debtor nor troublesome to repay. And all that becomes possible because these services charge an interest much, much lower than other lenders. However, debt consolidation services, free or paid, make the customers pay more over the long term; lower payments over a longer period typically mean paying more in amount.

One thing to keep in mind: there are no wine and roses story; while some debt consolidation services provide financial counseling for free, they charge for transforming the words into action. The truly legitimate consolidation services charge nominally for it; in case these charges skyrocket, beware. Additionally, getting in touch with the Better Business Bureau shall offer in-depth information on the company that you are planning to opt for. But always remember, debt consolidation services are the final check posts before filing bankruptcy; if you can survive the stress accumulated from a pile of unpaid bills and growing debts, do so. And if you are sure that it is your last way out, do some preliminary research to separate the fakes from the real ones, else you know where false services may lead you to.

Gibran Selman
http://www.articlesbase.com/non-fiction-articles/debt-consolidation-services-free-vs-paid-which-are-better-51372.html

An annual contract between an insurance company and an individual
A type of insurance whereby the insurer pays the medical costs of the insured
A type of insurance that protects your personal property if you are unable to pay your bills
A type of insurance that assists your loved ones in the event of your death

2. Which of the following illustrates the main difference between Medicare and Medicaid?

Medicare helps to insure the elderly, while Medicaid focuses on low–income individuals and families.
Medicaid helps to insure the elderly, while Medicare insures low income earners.
Medicaid helps to replace lost income for the poor.
Medicare is available only to those over the age of 65.

3. Which of the following is not true about managed care?

The most common types of managed care are HMO’s and PPO’s.
Your employer is responsible for all co–payments.
It is a system in which companies contract with doctors to provide health care services.
If you have health care coverage through your employer, you probably have a managed care plan.

4. Which of the following statements is true about Medicaid?

Medicaid covers only hospital and doctor’s visits.
Medicaid is a managed health care system.
Medicaid was established to help ensure that people living below the poverty level could receive health care.
Medicaid provides health care only for elderly veterans.

5. What is life insurance?

Health insurance that covers you for the rest of your life
Insurance that supplements your income if your life in threatened
Insurance that protects you in the event of an unexpected illness or accident that prevents you from working
Insurance that assists your loved ones with income in the event of your death

6. John T. works on the assembly line in an automobile factory. One day, he falls off the roof of his home while cleaning his rain gutters and injures his back. He soon learns that he will have to be off his job for close to a year while his back heals. Which of the following insurance will he need to cover losses from his absence?

He will be covered by disability insurance for a period of three months.
He may potentially be covered by disability insurance provided by his employer until he returns to work.
He will have to collect from his regular medical insurance.
Because the accident occurred at home, he is not covered.

7. Which of the following statements is not true about HMO insurance?

It is a managed health care system.
The letters stand for Health Maintenance Organization.
In an HMO, you are assigned a primary care physician.
In an HMO you can choose your own primary care physician (PCP), but specialists must be referred by the PCP.

8. Which of the following statements is not true about disability insurance?

The only way to get disability insurance in through your employer.
You can have short–term or long–term disability insurance.
Long–term disability insurance ends when a person turns 65.
Long–term disability insurance usually lasts five years.

9. Which of the following might be considered positive aspects of HMO’s?

Free choice of primary care physician
Care from non–HMO provider not covered
Out–of–pocket expenses are usually low
Easy to receive specialized care

10. Which of the following might be considered a negative aspect of HMO’s?

Out–of–pocket expenses are usually high.
HMO’s focus on preventative care.
Not easy to receive specialized care
Free choice of primary care physician

Assuming each choice is lettered in successive order:
1.B
2.A
3.B
4.C
5.D
6.A
7.C
8.A
9.C
10.C

But to my mind the best way to invest money is to invest in business. It’s more profitable – up to 40% per year.
You may contact me for a good advice.

NOTE: I don’t need your money.
I wish you success in your investments!

Duration : 0:7:18

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Expert: William Rae
Contact: www.hbwfl.com
Bio: William Rae has been licensed in the insurance and financial fields for over 30 years.
Filmmaker: Christopher Rokosz

Duration : 0:2:16

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Before embarking on writing a business plan for starting a car wash, a definition of what a business plan is in order. A business plan is a document to identify an opportunity, research why this opportunity is profitable and the steps needed to capitalize on the opportunity. The business plan can be a formal document or it can be written on the back of a napkin but the mere act of writing the idea down forces you to get the idea out of your head and on paper which helps find hidden business flaws and makes you think carefully about each phase of your business.

Creating a business plan is something anyone can do, even if you don’t know anything about business or finances. Even though the business plan is critical to getting the idea off of the ground, many entrepreneurs procrastinate when it comes to preparing a written plan. If you don’t know anything about business or finances, this is the best time to begin learning as the chances of your business being successful will be limited without this knowledge. Just as a builder won’t begin construction without a blueprint, entrepreneurs shouldn’t rush into new ventures without a plan. The old saying that “those who fail to plan, plan to fail” is very relevant when talking about starting a business. SBA’s statistics claim over half of new businesses fail in the first three years and the common factor is poor planning or under-capitalization (which is also poor planning).

Getting Started
The first step in creating a business plan is just getting started. Writing the business plan may seem overwhelming at first, but if you break the plan down to bite sized pieces and work on one section at a time won’t seem as daunting. Begin with what you know first and describe your business and your product or services. Work towards the more difficult subjects such as marketing, operations and financials. Don’t worry about it being perfect now, just get the concepts on paper – expand and refine later. If you get stuck on a section in the plan, skip it for now and come back later when you have more details.

Who is your audience?
When writing your car wash business plan, you need to keep in mind who your intended audience is and why you are writing the plan. Why? A plan for the bank will be less interested in the exit strategy and return on investment than one for equity investors. Additionally, a plan for written for internal use will be different than one looking for financing as a bank is not necessarily interested in detailed operations of the business.

Structure
Business plans tend to have a lot of elements in common. While there is not a format that all business plans follow, there are generally accepted guidelines that most follow as the order in which the subjects flow are not random. The Business Description of a business plan is aimed at painting a picture of your business and why this business will be successful. The Marketing, Management and Operations sections are researched and a strategy of how your business will compete and operate is developed. Last financial projections show in numbers what you explained in the business plan for the sales and expenses.

Breaking these three major sections down even further, a business plan consists of six key components:

For more free articles and resources for starting a car wash are available at www.StartingACarWash.com.

Additionally, business plan help can be found at www.TheBusinessPlanFactory.com

Michael Gregory
http://www.articlesbase.com/small-business-articles/creating-a-car-wash-business-plan-350295.html

Expert: Ted Schmidt
Contact: www.flgus.com
Bio: Ted Schmidt has spent the last 21 years as a financial strategist and consultant. He is active in the Hendersonville Chamber of Commerce and the Real Estate Investors of Nashville.
Filmmaker: Dimitri LaBarge

Duration : 0:3:17

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