Editors's Corner
By: Karen Jones
In South Florida, since March of 2009, over 500,000 people have put in a claim for the tax credit. Of that amount would you believe me if I told you that approximately 10% of those people that have sent in the tax form 5405 have not purchased a home yet????? You better believe that the government is coming for theirs! If you are a part of this, you won’t be exempt on this one.
The sad part about this madness is that we have professionals telling you how to get this money, but they’re neglecting to share the consequences of not using the money for what it’s allocated for. Let me go back a moment in time to when the banks started offering mortgages called “stated” or “NINA”-meaning the bank believes that your income is whatever you “state” it was, or “No Income No Assets” need to be verified. The “experts” were urging clients to “buy NOW”. Now, don’t get me wrong, they were doing what you asked them to do, however, some of them didn’t give you the full story. They neglected to disclose the “what if’s”; they presented many of you with a pretty, shiny box, that had a lump of coal inside. Let’s not hold them 100% responsible, where were your own thoughts? Did you ever stop to think, “Maybe I can’t afford a $300,000 home on a $30,000 yearly salary”? Or did greed get the best of you? Fool me once, shame on you, fool me twice, shame on me. Don’t make the same mistake twice, read up on the $8,000 tax credit and ask questions.
I have a client that actually received the tax credit money and spent it on another purpose thinking that she would get the money back by the time she closed on the property only to find
out that her credit scores have decreased and now she cannot purchase a home. Now, she’s running scared. See, with her and anyone else that’s a part of a tax credit scheme, it’s not a matter of if you’ll get caught, it’s when. And when you do, be prepared to pay the monies back and the stiff penalties that come with it.
We aren’t tax experts but we have a few on our team. We’re financial planning and real estate experts and can possibly help you find a house before Uncle Sam comes knocking at your door. You can blame the Realtors, Accountants, Mortgage Brokers and whoever else you choose to blame but at the end of the day you will take the fall by yourself. out that her credit scores have decreased and now she cannot purchase a home. Now, she’s running scared. See, with her and anyone else that’s a part of a tax credit scheme, it’s not a matter of if you’ll get caught, it’s when. And when you do, be prepared to pay the monies back and the stiff penalties that come with it.
"They said I live in a wonderful country and should pay my taxes with a smile! I tried that but they insisted on CASH!!"-Mel Narvey
Getting the Right Start
By: Mike & Cheryl Jones
What promise have you made for the New Year? One of the most popular resolutions people make is to lose weight. Unfortunately, resolutions are often made without a plan to succeed and subsequently end up on the next year’s list. Motivation to live a healthier lifestyle is great but lacking knowledge of how to incorporate an effective exercise program will yield disappointing results. A fitness professional can create and guide you through a comprehensive exercise program tailored to meet your goals. The best way to insure success in achieving your weight loss goals is not waiting, get started now! There are no benefits or results in waiting. Take charge of your health and make your resolutions to lose weight a reality.
Here are a few important tips to help you achieve your weight loss goals:
1) Increase physical activity: Walk, jog, weight train, etc.
2) Eat small portions: Keep meal & dessert portions small
3) Decrease juices & soda: Drinking water instead, can net you a pound of weight loss a month
4) Eat more fruits & veggies: Fruits & veggies are full of nutrients & fiber that help fuel your metabolism
Suggested Daily Calorie Intake:
Women: 1500-1800 cals.
Men: 2500-2800 cals.
Income Tax Refunds
By: Robert Henderson Jr.
Every year most people look forward to receiving a tax refund. In fact, some of us have already made plans on how the money is going to be spent well in advance before even receiving the refund. Some of us even brag about how large our tax refund will be as if receiving a big refund means you’re considered smart and savvy. Fact is nothing could be further from the truth. The truth is, the more money one receives back from the federal government (tax return) it’s a clear sign that one gave more than one was suppose to have given. In other words, you miscalculated and short changed yourself! It’s like going to the grocery store and buying $50.00 dollars worth of grocery and paying the cashier $55.00 and walking away, yet waiting for the cashier to run behind you to the parking lot and remind you that you forgot your change. Listen folks, no one should feel good about getting a big tax refund, especially if you’re considered grown and over the age of 21. Why? Cause you should know better! Many of us complain about not having enough money to make ends meet, if that’s true, how can you afford to give the federal government a tax free loan and allow them to keep your hard earned money for over a year, use it as they please and then finally give it back to you (with no interest) when you file your income tax return. How ridiculous is that! Who’s fooling who? Some people even claim zero exemptions throughout the year just so they can make sure that they pay more taxes than they legally have to, therefore guaranteeing a tax refund check at the end of the year; what a sad, sorry tax strategy. Folks we’re free, slavery is over, Rosa Parks did her thing and so did Dr.Martin Luther King; we’re living in a modern society, we drive fancy cars, no more horse and buggies, we’re allowed to learn and obtain as much knowledge about any subject that our hearts desire. None of us should be letting nobody especially the IRS (who often charges folks double penalties when you owe them) keep our money because we’re too ignorant and lazy to keep it ourselves. We’re not children, we don’t answer to “boy or girl” anymore like the many slaves who died in the persute of freedom. Children often ask their parents to keep their money for safekeeping; planning to receive a tax refund is like adults acting like children that can’t manage nor save there own money. The best practice is to have the use of your money (tax refund) throughout the entire year. For example, suppose you get a tax refund of $1,200.00 well, according to the time value of money theory, it’s better to receive $100.00 per month over 12 months than to wait and receive a lump sum of $1,200.00 at the end of the year. Why? My personal theory especially since I’m a man living in America, what if you don’t live until the end of the year? Black on black crime is crazy these days, there’s a 99 % chance that if you’re black you’ll be beat-up, robbed or killed by another brother man and that’s a fact; so give me the $100.00 as fast as I can get it. Using the time value of money theory, if you receive the $100.00 per month, you should invest it right away and receive interest on the money throughout the year, if you’re still alive after 12 months you’ll have more money saved than $1,200.00 besides, most folks could use an extra $100.00 per month to pay bills and get out of debt. How do I get my money now and avoid a large tax refund? The best thing to do now is adjust your W4 (withholding allowance); consult a tax planner (accountant) to help you figure out the proper exemptions to file. The IRS has a tax chart to fit everybody, if you’re single without kids- you pay a certain amount, if you’re married- you pay a different amount of taxes even if you earn the same amount as the single person with or without kids. The amount of taxes we pay really depends on how many tax reduction strategies we know how to use, trust me, it pays to have a really good accountant. Do yourself a favor, if you’re getting a fat refund this year, ask your tax preparer to adjust your exemptions so you can have access to invest your hard earned money now rather than later.
Income Tax Refunds
By: Robert Henderson Jr.
Every year most people look forward to receiving a tax refund. In fact, some of us have already made plans on how the money is going to be spent well in advance before even receiving the refund. Some of us even brag about how large our tax refund will be as if receiving a big refund means you’re considered smart and savvy. Fact is nothing could be further from the truth. The truth is, the more money one receives back from the federal government (tax return) it’s a clear sign that one gave more than one was suppose to have given. In other words, you miscalculated and short changed yourself! It’s like going to the grocery store and buying $50.00 dollars worth of grocery and paying the cashier $55.00 and walking away, yet waiting for the cashier to run behind you to the parking lot and remind you that you forgot your change. Listen folks, no one should feel good about getting a big tax refund, especially if you’re considered grown and over the age of 21. Why? Cause you should know better! Many of us complain about not having enough money to make ends meet, if that’s true, how can you afford to give the federal government a tax free loan and allow them to keep your hard earned money for over a year, use it as they please and then finally give it back to you (with no interest) when you file your income tax return. How ridiculous is that! Who’s fooling who? Some people even claim zero exemptions throughout the year just so they can make sure that they pay more taxes than they legally have to, therefore guaranteeing a tax refund check at the end of the year; what a sad, sorry tax strategy. Folks we’re free, slavery is over, Rosa Parks did her thing and so did Dr.Martin Luther King; we’re living in a modern society, we drive fancy cars, no more horse and buggies, we’re allowed to learn and obtain as much knowledge about any subject that our hearts desire. None of us should be letting nobody especially the IRS (who often charges folks double penalties when you owe them) keep our money because we’re too ignorant and lazy to keep it ourselves. We’re not children, we don’t answer to “boy or girl” anymore like the many slaves who died in the persute of freedom. Children often ask their parents to keep their money for safekeeping; planning to receive a tax refund is like adults acting like children that can’t manage nor save there own money. The best practice is to have the use of your money (tax refund) throughout the entire year. For example, suppose you get a tax refund of $1,200.00 well, according to the time value of money theory, it’s better to receive $100.00 per month over 12 months than to wait and receive a lump sum of $1,200.00 at the end of the year. Why? My personal theory especially since I’m a man living in America, what if you don’t live until the end of the year? Black on black crime is crazy these days, there’s a 99 % chance that if you’re black you’ll be beat-up, robbed or killed by another brother man and that’s a fact; so give me the $100.00 as fast as I can get it. Using the time value of money theory, if you receive the $100.00 per month, you should invest it right away and receive interest on the money throughout the year, if you’re still alive after 12 months you’ll have more money saved than $1,200.00 besides, most folks could use an extra $100.00 per month to pay bills and get out of debt. How do I get my money now and avoid a large tax refund? The best thing to do now is adjust your W4 (withholding allowance); consult a tax planner (accountant) to help you figure out the proper exemptions to file. The IRS has a tax chart to fit everybody, if you’re single without kids- you pay a certain amount, if you’re married- you pay a different amount of taxes even if you earn the same amount as the single person with or without kids. The amount of taxes we pay really depends on how many tax reduction strategies we know how to use, trust me, it pays to have a really good accountant. Do yourself a favor, if you’re getting a fat refund this year, ask your tax preparer to adjust your exemptions so you can have access to invest your hard earned money now rather than later.
January Newsletter
'Tis The Season To Be Healthy
By: Mike & Cheryl Jones
From Thanksgiving to New Year’s Day all bets are off for nutrition as everyone enjoys the dessert and alcohol filled festivities. Unfortunately this holiday cheer turns into holiday fear on January 1st, when you are faced with 5-10 lbs. more of you to carry around into the New Year. The urgency to lose weight coupled with other emotional battles then come in to play such as lack of motivation, will, dedication and time. All of these factors add unwanted anxiety to your life which compounds the problem; as stress and anxiety restricts weight loss. Some will persevere and overcome these issues but many will not, in turn, allowing the added weight to amass as part of the collection from previous years. This is the cycle that eventually leads to people finding themselves 50-60 lbs. heavier as they look back at those 10-year old photos of holidays gone by. Let’s make this year different. Here are some sound principles and simple tips you can incorporate in your life this holiday season to help you break the holiday “weight gain cycle” and give you a head start as you move into 2010:
Keep a Nutritionally Conscious Mind
A nutritional conscious mind tells us that unhealthy foods don’t turn healthy during the holidays, they remain just as unhealthy and will have the same weight gaining effect on your body as before; it tells us that the holidays are not an excuse to overindulge in deserts, high fat foods, and alcohol; it tells us that the “free” pastries at the office aren’t really “free”, they come with a price that we may not be willing to pay; and lastly, it constantly reminds us that the body is our temple and should be honored with life giving nutrients.
Keep a Humble Heart
Humbleness of heart creates selfless actions and desires that are more in tune with your needs than your wants. It also creates the understanding that food is not the focus of the holiday, it’s a time we enjoy laughter, cheer, and giving thanks in the presence of friends and family. Stay Active
Don’t use the entire month of December as a vacation from exercise. Physical activity, especially walking, jogging, weight training, cycling, etc. can help relieve stress, regulate appetite, and burn up extra calories from holiday eating
From Thanksgiving to New Year’s Day all bets are off for nutrition as everyone enjoys the dessert and alcohol filled festivities. Unfortunately this holiday cheer turns into holiday fear on January 1st, when you are faced with 5-10 lbs. more of you to carry around into the New Year. The urgency to lose weight coupled with other emotional battles then come in to play such as lack of motivation, will, dedication and time. All of these factors add unwanted anxiety to your life which compounds the problem; as stress and anxiety restricts weight loss. Some will persevere and overcome these issues but many will not, in turn, allowing the added weight to amass as part of the collection from previous years. This is the cycle that eventually leads to people finding themselves 50-60 lbs. heavier as they look back at those 10-year old photos of holidays gone by. Let’s make this year different. Here are some sound principles and simple tips you can incorporate in your life this holiday season to help you break the holiday “weight gain cycle” and give you a head start as you move into 2010:
Keep a Nutritionally Conscious Mind
A nutritional conscious mind tells us that unhealthy foods don’t turn healthy during the holidays, they remain just as unhealthy and will have the same weight gaining effect on your body as before; it tells us that the holidays are not an excuse to overindulge in deserts, high fat foods, and alcohol; it tells us that the “free” pastries at the office aren’t really “free”, they come with a price that we may not be willing to pay; and lastly, it constantly reminds us that the body is our temple and should be honored with life giving nutrients.
Keep a Humble Heart
Humbleness of heart creates selfless actions and desires that are more in tune with your needs than your wants. It also creates the understanding that food is not the focus of the holiday, it’s a time we enjoy laughter, cheer, and giving thanks in the presence of friends and family. Stay Active
Don’t use the entire month of December as a vacation from exercise. Physical activity, especially walking, jogging, weight training, cycling, etc. can help relieve stress, regulate appetite, and burn up extra calories from holiday eating
Don’t use the entire month of December as a vacation from exercise. Physical activity, especially walking, jogging, weight training, cycling, etc. can help relieve stress, regulate appetite, and burn up extra calories from holiday eating
Cheers to Health & Wealth!
By: Robert Henderson Jr.
Another year, another dollar…more or less! Cheers to health and wealth; one is certainly no good without the other. What good is it to be wealthy and unable to dress yourself? How would it feel to be in tip-top physical shape, while living under a bridge and pushing a shopping cart? This new year, let’s really make it a “new” year, not just with words, but let’s help this New Year be a “new”, year with meaning. Did you know the number one New Year’s resolution for the past 50 years has been weight loss? Yes, weight loss! Many people start the New Year off by attending gyms across the country only to digress back to their old habits (eating unhealthy foods) within ninety days. The truth is, there can never be a new year until there’s first a new you. Ask yourself, what are you going to do in 2010 that you didn’t do in 2009? How or what are you going to think about or do that’s different this year as opposed to last year? What has changed in your life? Are you doing the same things but expecting a different result? If so, then that’s called crazy. Nothing in the universe changes until you change it. Yes, that’s right! Change requires discipline, and the word for this “New Year” is, self discipline. Yes, what a wonderful, challenging, and rewarding new idea for this “New Year.” Think about it for a moment. To dedicate and train your thoughts is to focus and become “self disciplined”. You see, losing weight is not the problem. Having the discipline to make yourself do the things that enable you to lose weight is the issue. This is true with any other goal that one might strive to achieve. Self discipline, self control and will power are all causes for the effects and conditions that we experience in our loves. Self discipline is the foundation for greatness. It’s like the glue that holds everything together, without it, things, stuff and people fall apart. A thousand mile journey begins with one step. With that said, in order to develop self discipline, one should start with small step. For example: set a goal to cut out drinking soda for 6 months or try not to use profanity for a month (no matter who pisses you off…Oops!). Doing exercises like these will really increase and build strength for self discipline.
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