Saving Money On Taxes

Faith is not always enough to Save the Day: sometimes re-evaluating how we approach things is necessary.

 

There is a famous saying: if it’s not broke, don’t fix it. Sounds logical doesn’t it?! However, when applied to our finances or business success that point of view can sometimes lead to complacency. That, as anyone knows, can spell out a slow and painful death of all we have worked hard to achieve.

 

People are so busy that they don’t take time to look around them and really notice what is happening to their financial health, life, money, retirement, assets, and taxes!

 

 Looking outside of our current list of advisors can sometimes yield unexpected results. In addition, if we begin to edge a little further out and explore some new ways of thinking or approaching an old subject something amazing can happen. We can find that what we needed was sitting here all along.

 

You want advisers that have a VESTED interested in your financial health and are in it to win it with a win / win playing field.

 

I have a long term friend of mine, whom I consider family, has elderly parents with failing health, the bills have been piling up, and their attorney has instructed them to keep their assets in their names, and let their children fight over the assets upon their death. Why do you think that is?? It is simply because the attorney will earn more money for himself by letting the assets go through probate upon their deaths, and then the heirs will be left with not only the pain of losing their parents, but the pain of paying the estate taxes, probate tax, and losing the things that they grew up with.

 

How to turn that corner is often the hardest step to make. It means acknowledging that what has worked so well in our wealth building journey for so long no longer has the horsepower to work. It means acknowledging that our financial education is a little rusty, and our long-held goal of financial independence is slowly slipping away,

 

In fact, financial freedom may have completely gone off the tracks. Avoidance of this fact is easy in the short term. Unfortunately in the long term, it will mean that our retirement has often been eaten up by shoring up our current situation or our hard won assets are now at risk.  Not such a pretty picture is it.

 

However, there is a point of view – a skill set – available to everyone who believes their family, business, retirement, assets, tax planning and every other aspect of their lives is worth protecting. It is when you recognize that you need help and that help can come in the form of an advisor or wealth building coach.  If you think of any successful sports person or team, wealthy person or business you know they have at least one top-notch coach they can depend upon.  You can have the same level of commitment as well.

 

Try looking around for the coach (and their approach) that will work best for you. Look at their references, past track record and important information that backs up all their claims. For instance, if they talk about saving money on taxes: just how much have they saved and can they prove it? How do they protect assets? What is their proposal for long term financial health for you and your family? Is it customized to YOU personally? Is it able to be implemented? Will your advisers be able to support it, and does the IRC and laws of the nation we live in support it?! All of these things are very important when choosing the right wealth building coach for you.

And now I would like to invite you to claim your Free CD at www.masterywealthtips.com From Gabby Huguenin, – A Wealth Builder, Accredited Investor, in Northern Idaho 
www.wealthbuildingdna.com

You can talk live with Gabby and Tim McGilberry CPA by calling 888-888-3612 or email: gabbysupport@gmail.com or support@wealthclasses.com

Hey friends!

I want you to hear what a professional in the financial services field thinks about our programs!

"I just wanted to shoot you off a quick note to say thank you for your guidance. Your coaching has opened my eyes to a world of opportunities. It's amazing that after being a CPA for over 25 years, I was not aware of so many the tax saving strategies. Your coaching has helped personally as well as with my business. I couldn't have done it without you. Thanks again."
-- Lynne H, CPA

Have a prosperous day!

Gabby Huguenin
Wealth Coach
Wealth Classes Coaching LLC
888-888-3612

Small Business Tax Deductions - The year is coming to an end. Do you know where your deductions are? Whether you work from home, the car or the beach, you have a lot of small business deductions you have earned!

I’ve talked a lot about the tax benefits of having a small business to protect your assets and to reduce your taxes. If you’re new to the idea of starting your own business, we should talk. But first, as part of any wealth building strategy, I recommend you do a little homework.

Here’s some good foundational information that the U.S. Gov supplies about starting a business. Follow the link at the end for more info.

Business Expenses
 
Small Business Expenses and Tax Deductions
Guidance for the Self-Employed and Sole Proprietors

There are two basic tax concepts new business owners need to add to their vocabulary: business expenses and capital expenses.

Business expenses are the cost of conducting a trade or business. These expenses are common costs of doing business, and are usually tax deductible if your business is for profit. For example, costs of renting a storefront, business travel, and paying employees are all deductible business expenses.

Capital expenses are the costs of purchasing specific assets, such as property or equipment, that usually have a life of a year or more and increase the quality and quantity of products and services. For example, if you own a landscaping business and you purchase mowers and excavating equipment, these costs are capital expenses and do not qualify as deductible business expenses. However, you can recover the money you spent on capital expenses through depreciation, amortization, or depletion. These recovery methods allow you to deduct part of your cost each year. In this way, you are able to recover your capital expenses over time.

Figuring business expenses vs. capital expenses is not always clear cut. Consider taking advantage of free tax training opportunities offered by the IRS. If you have hired an accountant, you should also seek his or her advice regarding tax deductions.

The following information provides a brief overview of expenses that quality as tax deductions, with links to resources that provide clear guidance on deducting and capitalizing your expenses... For more: http://www.business.gov/finance/taxes/business-income/tax-deductions.html


Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

Here's a free gift for you: Sign up for our free eight week Wealth Building Secrets program that you can take from home. No cost, no obligation. Just 8 weeks of wealth building tips, money making ideas, tax saving strategies and new ways of thinking about wealth, money, and prosperity. There’s no obligation and you can get start right now!

Tax planning for doctors is all too often put at the end of the long list of to do's for fast-moving professionals. Part of any physician's wealth building strategy needs to include personal advisors, wealth coaches, and industry specific legal and financial experts. I believe it is very important to learn all you can about wealth building strategies but that doesn’t mean you have to know everything and do everything yourself.

Nobody becomes wealthy without a team effort. Athletes don’t get to the Olympics without a great coach, students don’t graduate from medical school without great professors, bosses can’t do their job without great assistants and people don’t become wealthy without a wealth team.

Raymond Aaron, founder of “The Monthly Mentor” once said, "If you don’t have an assistant, you are one."

Tax Planning for Doctors - in 30 Seconds?
High net worth tax planning is not exclusive to doctors and it is not something you should do on your own.  Financial advice for doctors shouldn’t come from the 30-second money making tips on tonight’s nightly news. So, whether you are a doctor, dentist or any other professional too busy to slow down and plan, ask yourself, these three questions:

• Who is on my wealth team and how qualified are they?
• Who should I be removing from and/or adding to my wealth team?
• What can I do today to improve this team?
  • Have clear goals that they all understand
  • Have regularly scheduled communications with clear agendas
  • Make sure expectations of performance and measures are crystal clear

If you are fortunate enough to be generating significant income but realize that you are paying way too much in taxes maybe this is the time to enhance your financial team with a wealth coach and a team of advisors to help you find legitimate business tax write offs and new ways to keep more of your hard earned cash in your pocket.

And finally, here's a few words from one of my wealth coaching clients...

"I just wanted to shoot you off a quick note to say thank you for your guidance. Your coaching has opened my eyes to a world of opportunities. It's amazing that after being a CPA for over 25 years, I was not aware of so many the tax saving strategies. Your coaching has helped personally as well as with my business. I couldn't have done it without you. Thanks again."

-- Lynne H, CPA


Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

P.S. If tax planning techniques bore you or intimidate you and small business tax deductions just aren’t your thing, then maybe it’s time to expand your wealth team. Find out how our wealth coaching programs can make setting up a small business or maximizing a mature one much more profitable. I’ve saved my clients nearly 14 million dollars in tax dollars in recent years. Feel free to give me a call!

Asset protection solutions are more important for certain types of businesses and individuals than others.  We all understand the value of insuring our homes, cars and lives but when things are going well it’s easy to forget about protecting yourself from the absurdity of pocketbook predators.  Don't let this craziness scare you because there is a solution. It's called Asset Protection Solutions!

There have been crazy cases where judges found a landlord liable for the alleged damages of another tenant’s cigarette smoke. Ridiculous awards have been made to plaintiffs for a wide variety of things that nobody in their right mind would believe is fair! I won’t waste any more time on the absurd, we all see the stories in the news so let’s just get down to protecting ourselves, our businesses and our assets with proper asset protection solutions.

Who’s at Risk?
Well, with more attorneys in this country than any place on the planet, if you’re an American, you’re at risk. But, if you’re in one of the following categories, you’re at higher risk:

• Architects
• Contractors
• Developers
• Engineers
• Physicians
• Dentists
• Medical Professionals
• Corporate Officers
• Financial Advisors
• Legal Advisors
• Real Estate Brokers/Agents
• Landlords
• Landlords
• Landlords

Oh, did I mention, landlords? It’s kind of funny in a sick kind of way. You work your tail off to find and purchase your first investment property. It takes you five years to get to positive cash flow. You net a couple hundred bucks a month and voila! You look like you’re a rich landlord with a big asset so you’re easy to spot and easy to sue! Ahhh, the joys of being a landlord.

A few weeks ago I did a post about the importance of getting all real estate out of your personal name and into appropriate operating entities that separate you from your assets and also allow you to fly a little more under the radar. Remember, if you cannot be found, you cannot be sued. Of course, you only do this in straightforward legal ways but it is possible to protect yourself better with a lower profile.

One of the asset protection solutions we teach our students in Wealth Classes Coaching is using LLCs, C corps or other entity to reduce your liability. We help our students find the state most favorable to their specific entity and then we incorporate all of these tactics into a long-term wealth building strategy that keeps the pocketbook predators at bay.

Effective asset protection solutions help to limit the ability of creditors to seize your assets or to even know where to find your assets. The typical attorney working for the plaintiff to attack your assets is going to do an asset search before she decides to take that person’s case. If there is nothing of value to be found, it’s harder for the predator to find a playmate!

If you want to learn more about asset protection solutions, give me a call for a no obligation phone consultation. Discover how my high net worth tax planning strategies and business tax write offs can put a little more cash in your pocket next year, call me for a free consultation. I sometimes joke about it but I really can spot significant tax savings opportunities for most people in a matter of minutes!

If your new to some of this wealth building talk and just want to get the basics, then you don't have to take some complicated tax planning course, just start right here with our free class called Wealth Principles Online.


Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
888-888-3612

P.S. Whether you are interest is reducing tax payment, setting up a small business, or creating an effective asset protection strategy, we have an individual wealth coaching program for you. Just call me! Watch this video to learn 7 Tax Saving, Money Making Tips You Can Use Today!




Disclaimer:
This information does not constitute a complete description of all or any one aspect of financial planning. There is no offer to sell or buy any financial product in this video or on our website. Please consult with a qualified financial, legal and/or tax professional before investing or modifying any aspect of your taxes, assets or finances. This information is strictly educational.

Last Minute Tax Tips and a Free 8-Week Class to Boot!

The end of the year is closing fast and now is the time to get the tax deductions you deserve by knowing what information to share with your CPA. Here are a few year-end tax tips to consider right now.

Year-End Tax Solutions:
Read a few of these tax-saving, money making tips and I’ll give you a wonderful financial educational tool for absolutely free at the end of this post.

1.    If you might owe taxes…  review the list of potential deductions. Do you know what’s available? Diane Kennedy’s book, Tax Loopholes of the Rich has a great list.   Also, Jackson Hewitt Tax Service has a quick list of tax deductions for free that are often overlooked. Review these lists and look at where you spend money. Then bring this list to your CPA. I have a list of around 300 deductions that I use with my wealth coaching clients.

2.    Prepare for next year with a system… What is your wealth building strategy? What is your money management system? What is your process for building lifelong wealth? If you are shrugging your shoulders at these questions then you need a system. Our most popular workshop is called the Infinite Wealth System and it teaches you how to be your own banker, get paid like a banker and reduce risk like a banker. But first, you must start thinking like a banker. This workshop is quite powerful but don’t take my word for it, listen to some of the students.

3.    Create a Tax Advantaged Environment… What that means is that you should be doing everything legally available to maximize your tax advantages and minimize your tax liability. For example, There are four ways you can protect your income and your assets for a more joy filled retirement.

• Entity Structuring – set up an LLC, a C Corp, an S Corp or other legal business structure that will give you the greatest tax benefits and asset protection. You never want to hold real estate personally and LLCs are often great vehicles for protecting your investment and your family from legal hassles.

• Banking System – Utilize the proper life insurance products to establish a system of managing your cash flow and earning the interest on things you finance instead of paying interest to the bank or finance company.

• Self-Directed IRAs With Checkbook Control - A lot of peoples’ retirement accounts have taken a beating in the last year but there is a way to recover some and do better next year. Set up a checkbook controlled IRA and tie it into your banking system to maximize your earning power while reducing tax liability.

• Elite Family of Trusts – Trusts are powerful vehicles for creating long-term wealth and setting up a financial legacy.

4.    Tracking Software (Quicken, Quickbooks, etc.) There are many programs to choose from but the most important point I want to make is that if you don’t know where your money is going you won’t know where it went. Solid wealth building strategies require that you track your money well. If you’re not on a good financial management software program this is the ideal time to set it up so you can be ready for the new year and a fresh start.

Now… about that free gift. Sign up for our free eight week Wealth Building Secrets program that you can take from home. No cost, no obligation. Just 8 weeks of wealth building tips, money making ideas, tax saving strategies and new ways of thinking about wealth, money, and prosperity. There’s no obligation and you can start right now! 

To learn more about our wealth coaching programs, wealth building guides, or other financial education tools, drop me a note or give me a call!


Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

By the way, if you are facing some tax challenges, cash flow issues, or need a solid asset protection strategy, there is no charge to give me a call! We have a number of powerful wealth building programs to help you in the process of building financial freedom.

There’s a financial guru on TV who is quick to yell at people about their financial decisions. I heard her recently say that if you have an extra $5,000 in cash to invest that you should "Play it safe! Put it into the bond market." This is a perfect example of allowing the tail to wag the dog. If you see investing as a separate and stand alone system, without integrating other critical wealth building systems, you are about to lose $34,500.

Why? Because a typical American family making $100,000 a year pays out over one third of their income in interest payments to a variety of lenders! The financial advisor that focuses on your $5,000 (and of course, her commission to invest it) is missing the opportunity to recapture the $34,500 going down the drain in interest payments.

Never forget the synergy of the other wealth building systems:

1. Financing System
2. Debt Management System
3. Tax Management System
4. Investing System

Wealth Building Tips
With a properly structured financing system, the $5,000 you worked hard to save can be used to recapture part or all of the $34,500 flying out the window to hungry lenders. The financial advisor says, “Invest in bonds. They are low risk and will return 2.78% this year and they’re guaranteed!”  Whoop-tee-doo! There is a better way.

#1 Wealth Coach
On the other hand, with you, as the proud owner of your own banking system calling the shots, you could keep, 30, 50, 80% or more of that $34,500. That’s more like 15, 20, or $30,000 back in your pocket. But how do you set up your own banking system? That's one of the things we teach in our ongoing wealth coaching programs. Wealth Classes is all about educating its clients to create their own wealth. Whether I am considered the number one wealth coach or just another face in the crowd, YOU are the one that needs to take action.

We've recently updated our entire coaching program to make it easier for almost anyone to participate. In addition to learning how to set up your own banking system, our students also learn:

- How to plan and structure year-end – AND new year’s – financials
- How to create and structure profitable joint-ventures
- How to make contracts safe, easy and workable
- How to perform due-diligence the right way
- How to define and implement real-life goals
- How to maximize tax-savings – over and over again
- How to develop and work with Teams, Coaches and Mentors

If it's time to start building financial freedom then start with our entry level wealth coaching program called the Connector Coaching Program. I personally facilitate the weekly calls and we always have high powered, wealthy and wise speakers on every call. We have a lot of fun and everyone learns a ton.

Call me or to learn more!


Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

As the economy evolves, our wealth building and tax saving strategies evolve. That's why I would like to introduce you to some of my millionaire friends. I have formed a team of like minded, very smart, high integrity people who are willing to share their insights on wealth building with my students.

Building financial wealth never happens one person at a time. I always say, "Teamwork makes the dream work!"  I'm very excited about some of the changes we've recently made to our wealth coaching programs. Now you will have more opportunities to interact with highly successful people to hear their "secrets of success."

Every week we bring in money experts, millionaires, and business experts for you to listen to and learn from in the comfort of your own home. You'll be able to ask questions, solve problems and find ways to capitalize on financial opportunities when you join one of our coaching programs.

Kiplinger's Personal Finance or Wealth Coaching
Kiplinger's Personal Finance magazine had a great article in it recently about how to repair, rebuild and retire. It emphasized the importance of acting today, no more delay, regardless of your age. It very nicely broke down some basic action steps for various age groups who are planning for retirement. Good stuff. Get the mag, read it.

They also gave some great advice on various ways to maximize your life insurance benefits, how to start your own charity, how to find better money-market funds, and of course, a great article titled "6 Ways to Fend off Debt Collectors.

I encourage you to read magazines and books, listen to Cd's and watch financial education videos. Yes, do it every day! But the missing element in most of the financial media content out there is the team.

For less than the cost of a cup of coffee at Starbucks each day, Wealth Classes Coaching can show you how to put together a wealth building team that will teach you, challenge you, and support you to do more than just read and listen. But! You don't have to give up Starbucks to start creating wealth! We teach you how to build wealth with what you already have.

Here is some of what you'll learn in our wealth coaching program:

    * Eliminate debt FOREVER
    * Make your assets practically bullet-proof
    * Plan for yours – and your loved ones – long-term wealth
    * How to raise OPM
    * Find and master your sales skills
    * Profit from family members (legally & morally….!)
    * Plan for retirement (or the next phase….)

This 52 week program is not for everyone. If you are happy with your income, your security, your retirement plan and you have all the money you need then good for yo. If you want to go beyond reading, listening, and talking about wealth and just want to start making extra money and enjoying life, then commit (either with me or anyone!) to learning more and taking wealth building action steps!

Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888.888.3612

P.S. Total financial freedom doesn't have to be hard but it does take a little effort. But we've made it a lot easier with weekly classes, one on one wealth coaching and all kinds of audios, videos, and books to help you create your wealth building action plan. Have a question? Call me!

Until someone actually proved the world was not flat, you would have been considered totally crazy to think otherwise. Until someone proved that turning hot water into steam could run powerful steam engines and change the world of transportation you would have been considered a lunatic to think that a person could travel from city to city in minutes or hours instead of days or weeks.

And…until someone proved that you, yes you, can set up your own banking system and make money 24/7 with lower risk and consistent returns, just like a banker does, you would say this is just foolishness. But building financial freedom often requires a new way of thinking.

Tax Savings & Wealth Building Ideas
What once seemed impossible is now completely plausible, only if, you can make a paradigm shift, or a significant change in your point of view. If there is any area of resistance to the concept of wealth building it is usually in the the area of judgment.  To make extra money, generate new revenue streams, and build lifelong wealth, I ask you to suspend your judgments of things you know little about... like banking.

#1 Wealth Coach
To become your #1 wealth coach and a trusted adviser I must ask you to withhold your negative, “Yeahbut” thoughts until you learn how the Infinite Banking System works. I ask you to consider that the world may no longer be flat and that anyone can learn how to think, act and profit, like a banker!

If the hair on the back of your neck is standing up because of this radical thinking, that’s just fine by us. Resistance is natural and sometimes the most difficult thing to change on this earth is our… mind. We’ve been teaching thousands of people how to think, act, and profit like a banker for some time now and the first thing our students expect is that they are about to hear a laundry list of things they can no longer do or spend money on. Nothing could be further from the truth.

Wealth Classes Coaching Doesn't Require a Lifestyle Change
Our approach to building wealth is not like going on a weight loss diet. We’re not going to put you on a restrictive menu and tell you to stop doing this or stop buying that. In fact we’re not going to suggest you do anything different with your lifestyle. Building wealth comes from utilizing what you already have in more efficient and effective ways.

In our detailed wealth building  courses, you are going to hear some things you’ve never heard before AND… there are a few other things you will NOT hear that you may be expecting. Such as:

1.    Cut up your credit cards and pay cash
2.    Buy term life insurance and diligently invest the difference
3.    Pay down the mortgage on your house as quickly as you can
4.    Maximize your 401k and retire rich
5.    Take time to find the lowest interest rates on loans
6.    Remember, you must take higher risks to get higher returns

The reason you won’t hear any of those comments is because those strategies, though well intentioned, do not create wealth. It might make you feel good to pay cash for a new purchase, you’ll feel good knowing your mortgage is paid off, and you may feel a little emboldened after you negotiated another point off of that new car loan but these are all just emotional reactions to unemotional topics.

Tax Savings and More
I'm in the process of writing a book on reducing taxes and building wealth but everything I know about cutting taxes and building financial freedom is built on a foundation of systems, process, and strategy. Some of the steps you take in our wealth training coaching may or may not make you feel good but we’ve done the math, we’ve done the research, and we know that they work. You might feel good seeing your 401k or your home equity grow but can you use those assets? Can you leverage the value of your 401k into even more wealth? Can the equity in your home do you any good unless you borrow against it or sell your home?

So, I challenge you for today, suspend your old thinking and put some new information into your brain. The world is no longer flat and it is possible that you can learn to think, act, and profit like a banker. Sign up for one of our free workshops or teleclasses or consider joining one of our wealth coaching programs. Learn more at www.WealthClassesCoaching.com.

Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888.888.3612

P.S. Whether it's an online investment class, a wealth seminar California style or just a quick phone call, we have a wide variety of wealth training programs to fit any lifestyle and any budget.

An ACTIVE investor is someone that jumps out of bed every morning, excited about making multi-million dollar deals. She has no problems signing her name to a multi-million loan, risking the bank, and doing whatever it takes to make deals happen.

A PASSIVE investor on the other hand is someone that wants to enjoy life. He wants to travel the world and explore. She wants to be wealthy so that he or she can be sitting on a beach in Hawaii and totally enjoying her life.

Rich as Donald Trump
A PASSIVE investor may not care to be as rich as Donald Trump but she wants to be wealthy enough not to have to worry about bills or dealing with a boss or a job or a daily commute to the office. Sounds pretty clear, right? Maybe.

It might seem like a difficult thing to decide whether you want to be ACTIVE or PASSIVE. We found many people almost “brainwashed” into being ACTIVE when subconsciously they want to be PASSIVE investors. We all see the infomercials and other marketing gurus and we feel compelled to go in that direction. But many people simply do not know all the requirements of being an active investor.

Real Estate Investing - Easy Money?
Jumping into real estate investing and becoming a landlord to a handful of tenants doesn't sound that tough but it is very far from PASSIVE investing. On the other hand, PASSIVE investing, when done properly, still requires some effort. The effort to explore, analyze, and dissect the business or investment opportunity requires time, energy, and yes, even money before the fruits of PASSIVE investing come to fruition. There is always some investment required for a return.

Deciding whether or not you want to be an ACTIVE or PASSIVE investor should not take place in a vacuum. You don't finish reading my little blog post here and decide one way or another. Due diligence is required on yourself! Learning how you like to invest, what you like to do with your time and where your passion lies will help you make the right decision for ACTIVE or PASSIVE approaches to investing.

You - As an Investment Tool
One of the tools we use to help our clients decide their investment style is a personality profile. I can't go into too much detail here but each and every one of us has strengths, weaknesses, and very predictable tendencies we use to solve problems, make decisions, and organize our life. Once you are clear about how those unconscious or conscious actions occur, you can more easily identify which approach to business or investing is most likely to work for you.

Wealth Training - One Phone Call Away
Whether you are planning for retirement, just looking to capitalize on tax savings interest or searching for total financial freedom, you might enjoy joining our Connector Program. It's an entry level wealth coaching program that teaches you the fundamentals of finance, investing, and all aspects of creating wealth.

So, before you decide to become a PASSIVE or an ACTIVE investor, give me a call or drop me a note!

Have a prosperous day.

Gabby Huguenin
Wealth Coach
Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

P.S. Whether you are planning for retirement, looking at saving tax money, or just trying to create a plan for total financial freedom, call me! There is no charge for your initial consultation. For more wealth building tips, visit my business partner's blog, www.GeorgeAntoneBlog.com.

Earlier this year I posted blog about a few of the financial principles that I thought were so important. After seeing the chaos in the public meetings about our health care system and the politics of that whole process, it reminded me that all of us need to do a better job of taking care of ourselves with diet, nutrition, and exercise so we can minimize time in the health care system, andddddddddddddd…

Building Financial Wealth/Health
We need to do the same thing with our financial well being. We can talk about planning for retirement, tax strategies, passive income tactics and the like but most wealth creation begins in that gray matter between your ears. So here's a quick review.

Give yourself a wealth building checkup on these three critical wealth-health principles to see how you are doing.

1. Financial Attitude: Our Financial Attitude is that wealth building is a mindset – Make the decision right now to be wealthy. Then build your education, your self-talk, your team, and your financial systems around you to support that decision. All of us are looking for those killer making extra money ideas but they are all meaningless without the right financial attitude.

2. Financial Aptitude: Your earning power is in direct proportion to your learning power. And… the speed and ease at which you learn, your Financial Aptitude, is in direct proportion to your financial attitude.

Surround yourself with people of ability, knowledge, and integrity to learn from and grow with. No one gets wealthy alone. You don’t have time to make all the mistakes by yourself. Learn from others.

Whether you are developing a plan for retirement, trying to figure out how tax savings will effect your lifestyle, or just searching for more of those wealth building tips, start hanging out with people that are doing it not just talking about it.

3. Financial Gratitude: Financial greatness comes with financial gratefulness. Embracing Financial Gratitude means you appreciate what you have, what you earn, and that you are willing to give back by helping those who have helped you and those who just need help. Wealth Classes is always offering wealth building programs, many at no charge.

Have a prosperous day.

Gabby Huguenin
Wealth Coach
Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

P.S. If you are planning for retirement, looking at saving tax money, or just trying to create a plan for total financial freedom, call me! There is no charge for your initial consultation. And... for a free CD on money, wealth, and all things financial visit my business partner George Antone's site at www.WealthClasses.com.

To: All Media
From: Wealth Classes Coaching, LLC
Re: Greatest Living Coaches Teleclass
Contact: Steve Dahl 760-804-6271 dahlmarketing@gmail.com


San Jose, CA (August 7, 2009) www.WealthBuildingDNA.com  “We’re at a very critical juncture in this economy,” says Gabby Huguenin, wealth coach, tax expert, and CEO of Wealth Classes Coaching, LLC. “If American entrepreneurs don’t start taking responsibility for their financial situation by learning the fundamentals, we will continue to have high business startup failure rates.”

Huguenin is known for her direct style of telling it like it is as she speaks to business owners of large and small scale. Huguenin is a big believer in maximizing tax benefits by properly utilizing entity structuring to help create a tax advantaged environment. Huguenin will be one of the featured speakers in the upcoming event “The Greatest Living Success Coaches” month long teleclass series.

According to Gabby Huguenin, children are no longer just bundles of joy and love when you start your own business. They are legitimate tax deductions and possible employees that can save any business owner a ton of money. In a recent Podcast on her blog www.WealthBuildingDNA.com, Huguenin explained how easy it is to save $5,700 in the 2009 tax year by putting those kids to work.

Her company Wealth Classes Coaching teaches small business owners as well as individuals, how to leverage life insurance assets into tax savings tools. “Too many people think of life insurance as a necessary evil but the reality is, certain types of dividend-paying life insurance policies can be very effective at legally reducing tax liability when properly structured,” says Huguenin.

This is an example of what the participants will hear in the upcoming “The Greatest Living Success Coaches” teleclass.
•    Les Brown shows you how to position yourself for automatic success by changing daily habits and eliminating what holds you back
•    Bill Bartmann former 25th wealthiest person in America reveals his single biggest secret that made him a Billionaire…and what he calls the ONLY success in life
•    Loral Langemeier shows you quick, easy ways she has helped average people become millionaires in 3-5 years with the least amount of time, effort, and risk
•    Alex Mandossian reveals how he turned his yearly income into his hourly income… while tripling his days off
•    Dr. John Demartini spills the beans and reveals the exact science behind building massive wealth that will endure for generations
•    Hale Dwoskin reveals how to get fast and permanent relief from any unwanted emotions forever with a simple 4-step process… allowing you to enjoy effortless success and happiness….
•    Joe Vitale gives you three easy ways to manifest or create more money in your life as well as helping you clear the financial blocks so that money flows effortlessly
•    Gabby Huguenin demonstrates how simple it is to start your own business on a shoe string and turn it into a tax cutting, money making opportunity without quitting your day job or changing your lifestyle.

There will be about 19 additional speakers. Participants in the teleclass will also learn some of the following wealth building tips and tactics from Huguenin, her business partner George Antone, and others:

•    Get rid of debt quickly without having to cut back lifestyle
•    Establish legal structures so that no one can threaten your wealth
•    Bounce back from a job loss with fresh money making strategies
•    End dependence on the economy and your employer
•    Establish an automatic passive income system
•    Utilize little-known tax-cutting strategies to save thousands

Wealth coaching programs are available at www.WealthClassesCoaching.com.
For interviews or more information contact Steve Dahl at 760-804-6271 or dahlmarketing@gmail.com.

My friend Lance Hood is putting together a large group of authors, speakers, and experts on everything related to creating wealth for a FREE online teleclass series. He asked me to produce a quick video overview of what I will be speaking on. After I finished the video for his promotional purposes I took the same wealth building ideas I talked about in that video and put them into this Podcast.

There are seven tax-saving, money making ideas in this Podcast and you'll even find ways to put your little ones on the payroll. In 2009 you can pay your children $5,700. That's one way to shift some income and lower your tax liability. Of course, I'm speaking in general terms so always check with your tax professional regarding your unique situation.




With 65% of you money flying out of your pocket in taxes and interest you need to learn to use dividend paying life insurance policies to create a tax advantaged environment. If you want to begin building lifelong wealth two of the most powerful tools to do so are real estate and specific types of insurance policies. The cash surrender value in the right type of policy is fundamental to the structure of the banking system that we teach our clients to set up. Check out this Podcast to hear seven wealth building ideas so you can start creating your own wealth building program.

Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

By the way, if you are facing some tax challenges, cash flow issues, or need a solid asset protection strategy, there is no charge to give me a call!

My partner, George Antone and I did a teleclass not long ago about the concept of the Zero-Sum Game. It was an eye opener for many students and I think it is time to revisit this concept because we’re past the half way point of the tax year. A little year-end planning starting about now would be a great idea!

Zero-Sum Game & The Stock Market
You need to understand the definition of Zero-Sum Game because many of you are playing it and don’t know it. Here’s an example. Three guys go into a casino to play a little poker. They each have five chips at the table for a total of 15 chips in the entire game. At the end of the evening, one player has 5 chips, another has 10 and the third player has zero. A Zero Sum Game has just occurred for the loser. No more chips were created in the process of playing the game. Kind of like the stock market isn’t it?

The Stock Market or the Casino
From a big picture perspective, the stock market is a Zero-Sum Game. Like poker chips, stocks are bought and sold over and over but the same number of shares still exists. Someone wins, someone loses. Nothing new is really created from that same pool of stocks. And then there’s the concept called Leakage. Like a dripping faucet, someone skims a few of the shares/chips off the table every once in a while. You might consider those brokerage fees or commissions, “leakage.” So, add a Zero-Sum Game and a little Leakage together and what do you have? A costly game!

So what does this have to do with your building long-term wealth? Well the truth is, without a well-thought out wealth building strategy, you may have both a Zero-Sum Game and leakage going on in your investment portfolio and not even know it.

Tax Saving Tip - Checkbook-Controlled IRAs
What we want our clients to do is save on their taxes and increase their wealth by ending the Zero-Sum Game, stopping the nearly invisible leakage going on in their IRAs and other so-called secure retirement planning tools and get a plan in place that allows you to clearly understand where your money is going and what it is costing you.

A self-directed IRA may be a great tool but is it a Zero Sum Game waiting to happen? Every situation is different so I couldn’t tell you for sure but what I do know for sure is that a Checkbook-Controlled IRA is going to give you control and leverage that you most likely didn’t know existed. You must be very careful with a Checkbook-Controlled IRA but it can be a very powerful way to leverage your assets for significant tax savings.

I think going to the casino once in a while can be entertaining but when it comes to our client’s wealth building strategies we teach our clients to have as much control as possible. A Zero-Sum Game is not in the cards for this Wealth Building Dame. :-)

Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

Call about setting up your own wealth building strategy. There is no charge for the initial consultation and I usually can find a few ways for you to save money on taxes in that first call.

Control, control, control. It's one of the first things to learn in building financial freedom. Let's look at it from the banker's perspective. The banker’s job is to manage the money flowing in and out of the bank. Not the bank’s money but the customer’s money. A good banker is involved in his community, good friends with important people, and always there when you need a safe place to put your money or to get a reasonable rate on a personal or business loan.

Risking Your Money, Not His
He’s great at PR for the bank, giving away coffee cups, calendars, and other things that show his support for his community. He is constantly looking for ways to find savers and borrowers. The bank owner has made it very clear to its banker that he must always manage the bank in a way that shifts risk. In other words, don’t make investments and always use other people’s money, not the bank’s money. 

You Can't Have Unless You Don't Need it
This is likely one of the reasons people are cynical about the banker’s implied philosophy of “You can’t borrow the money unless you can prove you don’t need it.” While not exactly true, it is an indicator that people recognize how good bankers are at shifting risk away from the bank and back to the borrower. 

Last in - First out
This philosophy is related to another that has stood the test of time: “The last one in, first one out.” Let’s say you have a growing business and you need a new truck. Your banker is happy to take your application for a loan but it comes with a few strings attached. First, the banker needs a down payment, just to show your good faith, of course.

Second, he’ll hold onto the title until you make your final payment. Third, you must prove that you have insurance on this vehicle, which you must pay for but it really protects the bank.  And fourth, you must agree to all of the terms spelled out or your banker has the right to take the vehicle back at any time. Notice how the banker controls the entire agreement and minimizes his risk in all directions?

Banker Gets His Money First
In essence, the banker owns your truck. Here’s the last one in, first one out philosophy. The banker’s money came in last, after you first put up the $5,000 down payment; which is of course, money your banker will lend out and earn interest on many times over in the coming year. Your banker was last to give the auto dealer you are buying the truck from the rest of the money needed to purchase the truck. The banker will also be the first one out if things go wrong. If you don’t make your payments, he holds the title and will be first in line to come and take the truck back if his money is at risk. 

Watching how bankers operate should be the foundation for your wealth building guide. You must understand how a banker acts, thinks and profits in order begin building financial freedom. If a bank doesn't take risk and still makes a nice profit, why don't you just do what they do? Not that simple is it.

Wealth Building Strategy
That's why we encourage our student's to study and practice the wealth building principles that we've been using for years to help people build tax savings strategies and wealth building tactics that reduce risk and increase the likelihood of success.

Saving Tax Money
From tax reducing strategies to planning for retirement, understanding risk, control, and everything in between is what we teach at Wealth Classes.

Wealth Building California Style
For a free no-obligation wealth coaching session, just give me a call at 888-888-3612. Make sure and listen to some of my Podcasts below to learn more about building financial freedom.

Join us this Friday for our first online Infinite Wealth System workshop.

Have a prosperous day!

Gabby Huguenin
Wealth Coach
Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

P.S. Wealth training takes time but it doesn't always take money. Want a free wealth training course? Visit www.WealthClasses.com.

The banking industry has done a good job of letting us think that if we get a car loan from them for 6.5% then they must be making a profit of something less than 6.5%. They have also done a good job of teaching us to keep our eye on the interest rate. When they give us a break on our mortgage rate and drop it from 6% down to 5% we think we’re getting a fantastic deal and love our banks even more.

The Bank's Primary Job
The bank’s job is to circulate money. Although you, as a borrower, are concerned about the interest rate on your mortgage, the bank is concerned about flow. Not just cash flow but many types of flow. Flow is the name of the game in the banking world. The word flow is related to water, liquid, pool, reservoir. Cash flow, liquid assets, pool your funds, cash reservoirs.

But, just as farmers don’t pool their water and keep it from moving, they know it has to flow to make things grow. Same is true with your bank. If cash isn’t flowing, then things are not growing.  There are a lot of financial education tools online but until you learn to act, think and profit like a banker, true wealth will elude you for a long time.

You Focus on Interest Rates - Banks Don't
While you focus on interest rates, your banker focuses on moving cash through the system. Bringing money in and lending it out, in and out. Like a living, breathing organism. If the inflow or the outflow stops, it dies. When you put a thousand dollars into your bank, the bank gives you back an extra $20 or $30 (2-3% interest) by the end of the year. Yet, the bank has loaned your $1,000 out to other borrowers five to ten times (@6% interest) creating revenue of around $60 dollars each time or around $300 to $600 in gross profit.

Returns of 40, 50, 60%
Could it be they are making of 40, 50, 60% returns on your money? Absolutely. Start to act, think and profit like a banker. Begin right now. What if all of that money was flowing through your own banking system? What if you were the one paying the interest as well as earning the interest? What if you didn’t answer to the bank? What if you were the bank? 

In the past, financial advisors implied that you should eat more beans, cut back your lifestyle and invest your money with them for 20, 30, or 40 years and everything would be fine when you were ready to retire. Wrongo! Between major financial institutions going belly up, clever billion-dollar scam artists going to jail, and an economy going haywire, you cannot afford nor risk giving up control of your money. You must put yourself in the flow. To do that you must act like a banker.

If you understand the real estate agent's mantra is location, location, location, then you'll understand why the banker's is control, control, control.

Whether you are planning your retirement or just looking for making extra money ideas, controlling the flow your of your money is what building financial wealth is all about.

The smart bank owner sets up the rules to control everything. You, the customer are expected to follow every rule. If you are ready to think, act, and profit like a banker then the primary lesson you must learn about the bank owner is this: “He who has the gold, makes the rules.”

This is not an evil or dishonest concept. This is a wealth building concept. When you plan for retirement, start your own business, or just want your fair share of tax savings, it all begins with control and knowing the rules.

We'll talk more about the meaning of control and it's relationship to wealth building in future posts. For now, I encourage you to learn more about who is handling your money and how they are REALLY doing with it. Even though you have a self-directed IRA do you really have control? Call me and I'll tell you the truth!

If you want to act, think, and profit like a banker, I strongly encourage you to consider joining our Infinite Wealth System workshop starting at the end of this week. It's the first time the entire event will be online and it's going to be a blast. My business partner George Antone and myself will co-facilitate this in depth workshop. We'll bring in a variety of high-powered financial experts each of whom have a unique wealth building perspective to share with you. The wealth building ideas will be flowing like crazy!

Want to take CONTROL of your finances? Your life? Join us :-)

Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

Can you see that future business man or women in your child's eyes? There are plenty of legitimate ways to bring your children into your wealth building strategy and give them a great business learning opportunity at the same time. With all of the wealth training and wealth coaching that I do one of the commonly overlooked tax savings tactics is to employ your children for the benefit of your family and your business.

Great Kids - Great Tax Deductions
In 2009 you can pay your child under 18 years of age up to $5700 which could be considered non-taxable income to you.  Hey, you were already going to give them the money anyway so why not pay them in a tax advantaged environment to keep a little more of that hard earned money in your pocket.

When structured properly, there are significant benefits to hiring your children through your company.

• Deduct what you pay them and turn it into nontaxable dollars
• Give them solid work experience
• Teach them respect for the money and how to manage it
• Teach children financial responsibility
• Teach the concept of building financial freedom early in life
• Once they qualify as employees they may receive additional benefits (which is more money you can deduct)

Here are some other benefits that can help you in building lifelong wealth:

•  Employee Gifts -You can give an employee $75 per year as a gift from the company whether it is for their birthday, Christmas or just to show them how much you appreciate the job they are doing. Children love these and it makes them work even harder. I mean who doesn't love a gift?
•  Snacks and Refreshments – Your employees need drinks and snacks to keep up their high levels of energy to get the work you need done. If your kids are employees this means them too! 
•  Supper Money – The IRS says that if your employees have to work later then usual on an occasional basis, your company can buy them dinner as an incentive to work those extra hours.
•  Travel – Now that they work for your company and you go on a business trip but want to take them, the company can pay for their travel too as long as you have some duties they need to help you with while on the trip.
•  Achievement Award – Need a way to write off those game stations that seem to need constant upgrading? Well the IRS lets your company give an Achievement award in the form of a tangible piece of property worth up to $400 per year for general achievements such as employee of the year, greatest team player etc… just one more incentive to keep those kids working harder.

Wealth Building Tips With a Family Twist
As with any tax saving plan or wealth building strategy, every individual is unique. Some of the ideas above may be perfect for you, some may not. The point is, when you know what to look for there are ample opportunities to reduce your tax liability and get more out of your business. The benefits of reducing your taxes are great but the benefits of seeing your children grow up with a clear sense of business and financial responsibility, is, oh, shall we use that great ad campaign motto again... PRICELESS!

Let me emphasize - every tax scenario is unique so the ideas I post here are just eye-openers! They may not work for everyone but everyone should know that these are legitimate ways to save on your taxes. There is no cost or obligation for you to call me and just chat about the various ways we can help you build wealth.

Learn more about creating a legacy of wealth in our upcoming online workshop - The Infinite Wealth System. Actually, you should bring your kids to the call!  It starts July 24th and you can participate from the comfort of your home!

Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

As a little guy (or gal) fighting off the lawyers and tax collectors can be tough. But... there are some ways you can protect yourself, your assets and your future if you learn to Think Small!

Small mistakes can cost big bucks in taxes. Most Americans are giving up way too much in hard-earned money to unnecessary taxes. This is what  cuts into your plan to build lifelong wealth. Saving tax money requires strategy. Think small when it comes to taxes. It's the little things that become the big things. The details you don't want to take the time to look for or learn may cost you a fortune in the long run. These are wealth principles that the wealthy live by.

In the last few years we’ve saved our clients millions in taxes. We teach our clients to live in a tax advantaged environment and that means they have more control over their financial growth and security.

Here are three things you can do to launch your wealth building strategy.

1. The first thing you need is a checkbook controlled IRA. That’ll put you in charge of your future.

2. Set up a wealth building team. Surround yourself with a team of experts to help you establish a wealth building program that you simply could not develop with your limited time, knowledge, and experience.

3. The third thing you need  to do is set up the proper legal entity. If you've already done that great. If you want a second opinion, call me. Even if you are NOT in business in the traditional sense, having a legal entity to protect your assets is extremely important.

Here are four options to consider.



Benefits - Simple, cheap. You won't have a lot of legal fees setting this up!

Downside - Weak protection when litigation occurs. You are the same as the business. Biz gets sued, that means you. There are some tax advantages and plenty of disadvantages.

Benefits – Two or more partners can share the profits.

Downside – Lots of ‘em! Very vulnerable to outside lawsuits and the actions or in-actions of partners. You’re all the same. Partner A does something stupid, Partner B is just as guilty.

Benefits – Corporations are treated as a separate entity. The business gets in trouble with debt or legal issues, the individual owners are treated a totally separate (in most cases).  Much better legal protection if corporation is set up and maintained properly. The list of tax advantages compared to an S Corporation is long but they really depend on how it's structured.

Corporations can have multiple owners, active or passive. Corporations can have a different calendar year, giving the owners time to capitalize on any tax leveraging strategies. There’s a lower tax rate for corporations but…

Downsides – There’s a lower tax rate for corporations but it might be on top of your personal tax rate. Double taxation is possible. 


Benefits - Good legal protection but taxed like a partnership. This is a pass-through entity. Requirements for ownership are not as strict as S Corporations.

Downside - This is the newest corporate legal structure in the U.S. and for that reason there may be tax advantages and disadvantages that are still evolving.


Wealth Classes Coaching Can Help
Creating your own tax advantaged environment takes strategy, experience, and resources. We design wealth building programs that keep the lawyers and the tax collectors out of your pockets.

Call me to find out if you are paying more than your share to your favorite uncle, Uncle Sam. I can usually spot some serious tax saving opportunities in just one phone call. Whether you're planning your retirement, dreaming of total financial freedom or just want to figure out how to keep a lot more of your hard-earned money, Wealth Classes Coaching can help! Listen to my Podcast on how to keep from giving 65% of your money away in tax and interest.

Along with my business partner, George Antone, myself and our team of wealth building experts, we're ready to help you in all areas of corporate structure decisions, tax planning, financing, real estate, and money management. We have a team of CPAs, accountants, attorneys, wealth coaches, and just some darn smart business people available to help you start building financial wealth. Don't forget, we have a ton of free wealth building courses available.


Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com

As I get ready to head to San Jose to teach at  the first ever totally FREE 3 day Infinite Wealth Systemworkshop I realize there are a lot of people asking me to explain more about our coaching programs. So, in the interest of helping you create total financial freedom, plan for retirement, or just figure out how to make more money in this crazy economy we did a Podcast about some of my wealth building strategies you will learn in our group and/or one-on-one wealth coaching programs.

Play this short Podcast to learn a little more about me and get a brief introduction to some of our wealth coaching programs.


Are You Wealth Ready?
If you are ready to start building your financial freedom, join us for a wealth seminar California style next week! At the FREE Infinite Wealth System workshop you will learn a ton of wealth building ideas and we won't charge you a dime. Space is limited and you MUST have a reservation to participate in this high-powered wealth building course.

If saving tax money is important to you, if building lifelong wealth is important to you, if learning wealth principles that help you create a wealth building strategy is important to you, don't pass up this money making, tax saving event.

Let me know what you think of the Podcast!

Have a prosperous day.

Gabby

We are just days away from the next Infinite Wealth System workshop. I am very excited about this one because we have pulled out all the stops to help you achieve total financial freedom. There will be wealth building ideas galore, wealth building strategies you can take to the bank and what you will find most shocking is that you don't have to change your lifestyle or cut your expenses to the bone to begin building financial wealth.

We'll teach you how to use the power of finance in this tax savings, money making three day wealth building course! We'll show you how to get rid of your debt extremely fast without having to live frugally!

Listen to what one of our recent workshop participants said about The Infinite Wealth System workshop.



The “Infinite Wealth System” is scheduled for three days at the Doubletree Hotel at 2050 Gateway Place in San Jose, CA June 12 – 14. Space is limited and it's filling up fast. Since this is the first FREE workshop we've done you must have a reservation.

Have a prosperous day!

Gabby
Wealth Coach