Strategic Tax Planning
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Karla Dennis and Associates Inc. Karla specializes in [...]
PAYCHECK PROTECTION PROGRAM (PPP) INFORMATION SHEET: BORROWERS
The Paycheck Protection Program (“PPP”) authorizes up to $349 billion […]
What you need to know about changes to retirement and 529 plans
What you need to know about changes to retirement and […]
4 Things You Are Doing Already That Can Save You Cash
If you’re a small business owner, there are things you […]
5 Ways to Make Money While You Sleep
5 Ways to Make Money While You Sleep Who doesn’t […]
Payroll Pain No More!
There comes a point in the life of many small […]
Decorate Your Tax Return With These Red Flags and Get Audited!
There is no foolproof way to avoid being audited. The […]
Become a Self-Made Millionaire by Following These 9 Practices
If you aren’t lucky enough to inherit a million dollars, you’ll have to create wealth on your own. Relatively few millionaires inherit their wealth, so you’re in good company. Most millionaires didn’t become wealthy by doing anything spectacular. They simply have a useful set of habits that they stick to religiously. Start on the path to becoming a self-made millionaire: Deal with uncertainty. Most millionaires don’t have a “regular job” and are forced to deal with more uncertainty than average income earners. Be comfortable with uncertainty. Pay yourself before you pay your bills. Save at least 10% of your paycheck before you sit down and pay your bills. If you pay yourself first, you’ll adjust your spending to accommodate your bills. If you pay your bills first, you’ll spend the remainder and save nothing. Save your money before you have a chance to spend it.
Where to Find Financial Support for Your Brilliant Startup Idea
Consider many sources for your startup funds: Use your own finances. Instead of getting a loan or borrowing from others, see if you can finance your startup with funds you save or gather. Do you have savings that can be used to fund your new business? Do you have items or services you can sell to raise money? This may take awhile, but you might feel more comfortable delaying the launch of your company a bit while you earn the money to get it started. Ask friends and family to help. Do your family and friends think that the startup idea is a good investment that will bring high returns? If you have support from these sources, they might be interested in loaning you the startup funds or investing in your new business.