Friday, January 28, 2011

The Power of Momentum

Everyone has experienced the moments when things go right. It starts with something small going your way and continuing with repeated successes. The older we get the more we recognize the pattern. We fear the reverse when all goes wrong and work to prolong the moments that go right.

It is important to recognize any success as the possible beginning of a long period of wins. Deep inside we know that the wins are coincidence. We also know we personally have a lot to do with the series of positive outcomes. Once we recognize a win we kick in the after-burners and attempt to leverage our perceived advantage.

Then the inevitable happens. The string is broken. A setback slams us back into our seat. These moments allow us to reflect and learn. The sooner we jump out of the chair and start another string of wins the better.

Too many people allow a bad event to freeze them like a deer in the headlights. Taxes have the ability to destroy a lifetime with inaction. FEAR (False Evidence Appearing Real) keeps some folks locked in their own secluded world. Do not become a victim of your own FEAR.

Gather all your tax materials together. Take them to the accountant or assemble for self-preparation. Begin a new wave of momentum. Big things going your way are like a tidal wave of positive momentum.

The earlier you start your tax preparation, the sooner you have solid numbers to work with. Then your can tackle the issues and get on with life. Life is too short to waste months fretting about a potential tax bill. Get it done. Deal with the outcome. Then go and enjoy life.

Momentum, my friends. Momentum.

Saturday, January 15, 2011

Wisconsin Governor Walker Calls Illinois Businesses and Residents Idiots

Are people from Illinois idiots? I don’t think so. But Wisconsin’s new governor, Scott Walker, thinks so.

It all started a few weeks ago when Walker took office. He made the bold promise of adding 250,000 jobs in his first term. I admire the goal, but am concerned about the delivery. If the goal is not reached it almost guarantees he is a one-term governor.

It gets worse. Before his bold jobs claim he took the one action that would cost Wisconsin thousands of jobs. Governor Walker sent over $800 million to California as a gift. I understand California has greater economic issues than Wisconsin, but jeez. California will now get Wisconsin’s high-speed train. Will the governor include the California jobs created toward his promise?

Not only will Wisconsin lose the jobs building and operating the train, Wisconsin will also lose businesses. Several businesses that needed a better, faster, and more cost efficient transportation hub are now planning their departure from Madison, and to a significantly greater extent, Milwaukee. Governor Walker promised more jobs and all I see are jobs leaving.

Illinois has serious budget problems. To fill the gap, Illinois raised their top income tax bracket 66%. Governor Walker couldn’t contain himself. He brought back an old advertising champagne from years back called “Escape to Wisconsin.” He wanted all the folks from Illinois to know that they can escape to Wisconsin after the big tax increase in Illinois. Problem is Illinois’ top tax bracket went from 3% to 5%; Wisconsin’s top tax bracket is 7.75% and is assessed on lower income than Illinois’ top tax bracket. What Governor Walker wants the folks in Illinois to do is take another 50%+ tax hike over the 66% hike they already suffered. Really?

People in Illinois are not stupid. They know that 5% is less than 7.75%. Why doesn’t Governor Walker know this? Is he stupid? What Governor Walker really did was remind Wisconsin businesses that they can escape high taxes by leaving Wisconsin. Dumb, just dumb.

I know Walker has only been governor for a few weeks and that he did not create Madison’s budget mess. But jeez, Walker, you are not making things better.

I had high hopes our new governor would take the bull by the horns and solve some of Wisconsin’s budget problems. Now, after only two weeks, I would be glad if we just held steady.

Tuesday, January 11, 2011

Busy Bee

I would blog more, but my schedule is tight with year-end tax forms and my work over on Hubpages. HubPages has a financial planning writing contest and I am submitting each day on the subject proposed. I won 2 day this past week. Check it out.

Financial Planning Basics

Business and Hobby Losses

Alternatives to Bankruptcy Contest daily winner


Auto Loan Modification Scam Contest daily winner

Taxes, Student Loan Forgiveness and Bankruptcy

Use PayPal to Accept Credit Cards

Choosing the Best Accountant