Tag Archives: Business Ownership

Corporate Tax Rates – Newsletter July 27, 2016

Business Briefs

July 27, 2016

corp tax rate

FEDERAL INCOME TAX RATES FOR CORPORATIONS

For Taxable Corporate Income:

From: To: The Tax Is: Plus: Of the Amount Over:
$0 $50,000 $0 15% $ 0
50,000 75,000 7,500 25% 50,000
75,000 100,000 13,750 34% 75,000
100,000 335,000 22,250 39% 100,000
335,000 10,000,000 113,900 34% 335,000
10,000,000 15,000,000 3,400,000 35% 10,000,000
15,000,000 18,333,333 5,150,000 38% 15,000,000
18,333,333 unlimited 6,416,667 35% 18,333,333

Are you making effective use of corporate dollars to achieve your personal financial security goals?

 

MESSAGES
from the Masters…

TOP SKILLS OF EXTRAORDINARY LEADERS

by Chris Widener

Those who become Extraordinary Leaders are those who master the skills of leadership. Followers will follow leaders based on two primary aspects: The Leader’s character and his or her skills. Here are the top skills an Extraordinary Leader must master. Get on top of these and you will find your influence growing extraordinarily!

1. Good Communicator. Extraordinary Leaders are those who can take the vision they have and communicate it in ways that their followers can easily understand, internal, and own. Then, and only then, can they carry it out! So focus on speaking and writing more clearly, and with the passion that you have for the vision you have. Use different ways of communicating, including different ways verbally and non-verbally. Above all, communicate often!

2. “Sees” the End Result Long Before Others. I think the greatest compliment on my leadership skills I ever received came from a gentleman who told me that “you see things about 6 months before the rest of us.” Without tooting my own horn (okay, a little bit maybe…), that is a skill of a leader. They are always looking out ahead of themselves and their situations. Followers are worried about what happens today, while leaders are thinking about and strategizing about what they see for tomorrow. Be constantly looking ahead. Practice making projections. Get good at “seeing” the future. When you can do this better than others, they will look to you for leadership!

3. Ability to Define Goals for Self and Others. Do you know what your goals are? Can you define them? Can you articulate them clearly (see number one)? Can you do this for those who follow? Can you define and set their goals? An Extraordinary Leader works at clarity and definition of goals so that they can be internalized and acted upon by others. Work hard at this skill and others will follow!

4. Ability to Set Strategy and Course of Action. What will you do to reach the goal? Many people can say where we should go, but it is the Extraordinary Leader who can lay out a plan for everyone to get there! Work at laying out a plan for you and your followers. Remember that there are people with different skill and passion levels, and take this into account! Get good at this and when people want to get to their goals in a hurry, they will call on you to lead!

5. Ability to Teach Others. One of the greatest leadership development companies in the world has been General Electric. This is because their CEO, Jack Welch, has always emphasized the need for current leaders to teach others. He himself spends what others would consider an extraordinary amount of time in the classroom teaching. But remember, he is an Extraordinary Leader and he is developing Extraordinary Leaders to follow behind him. Work hard at your teaching techniques, and be sure to use as many situations as possible for the opportunity to teach those who would follow.

6. Ability to Inspire Others. You may have a great goal, but if you want to be an Extraordinary Leader, then you will have to put a little oomph under your followers! This is the ability to inspire! Work at helping them to see the big picture, the great end results, and how good it is going to be for them and others. Above all, make it exciting. If it is a good goal, it should be exciting. If it isn’t exciting, then dump it and get a goal that others can get excited about!

7. Delegates. An Extraordinary Leader is rarely a person who is doing everything him or herself. Extraordinary Leaders get there job done through others. They figure out the way, communicate the way, and inspire the followers to go that way, and then they get OUT OF THE WAY! Delegate to your people. Empower them! Set them free to soar! This is what an Extraordinary Leader does. Leaders who do it any other way are just extraordinarily tired at the end of the day with very little to show for it!

QUOTES
from the Masters…

On Planning

“I find it fascinating that most people plan their vacations with better care than they plan their lives. Perhaps that is because escape is easier than change.”

— Jim Rohn

“Every evening, write down the six most important things that you must do the next day. Then while you sleep your subconscious will work on the best ways for you to accomplish them. Your next day will go much more smoothly.”

— Tom Hopkins

“Every minute you spend in planning saves 10 minutes in execution; this gives you a 1,000 percent Return on Energy!”

— Brian Tracy

On Teamwork

“You don’t get harmony when everybody sings the same note.”

— Doug Floyd

“Every employee must be essential to the functions of the organization.”

— Brian Tracy

“We can cooperatively make the world work for 100% of us – for the first time in history we have the technologies and awareness to do it.”

— Mark Victor Hansen

Retirement Planning: A Document Checklist

Retirement Readings

June 15, 2016

Retirement planning

DOCUMENT CHECKLIST

You may find this Document Checklist of assistance in your planning. Please contact my office if we can be of further assistance.

Document

Location

Personal

Birth Certificate

 

Marriage License

 

Pre- or Post-Nuptial Agreement

 

Will

 

Trust(s)

 

Living Will(s)/Power(s) of Attorney

 

Mortgage Papers

 

Automobile Titles/ Papers

 

Income Tax Returns

 

Gift Tax Returns

 

Insurance Policies

 

Employee Benefit Documents

 

Passport

 

Military Records

 

Medical Records

 

Citizenship Papers

 

Warranties

 

Current Bills

 

Funeral/ Burial Documents

 

Other:_______________

 

Business Ownership

Partnership/ Incorporation Documents

 

Buy-Sell Agreement

 

Section 303 Stock Redemption Agreement

 

Business Valuation/Appraisal

 

Business Tax Returns

 

Other:_______________

 

MESSAGES
from the Masters…

FOUR WAYS TO MASTER CHANGE

by Sheila Murray Bethel

We are living in exciting age of unprecedented change. Today’s accelerated rate of change presents us with unique challenges and opportunities. When change brings success, keep your ego from getting out of hand. When the change is negative, use your sense of humor to get through it. Once you learn to handle change, you can take your skills, talents, and abilities and help others change. Let’s look at four ways to enhance your mastery of change.

1. Don’t Fight It.

The natural tendency is to protect what you know and value, what has become familiar and comfortable. Unfortunately the world will change with or without you. So you must adapt again and again. You make your life so much more complicated when you fight the change. You cause yourself stress and can actually become ill. Remember the old Serenity Prayer: God grant me the serenity to accept the things I cannot change, The courage to change the things I can and the wisdom to know the difference.

2. You don’t have to like the Change.

No one ever said you have to like the changes you are experiencing. However, you do have to understand them so you can progress. Study, explore, and read everything you can about the current matters that affect your perception and handling of change. Life is not always about “liking.” It is about doing the best you can, with what you you’ve got and getting on with it–right now!

3. Know what to defend against change.

There are some things we should resist changing because change does not always translate into better. Change for the sake of change alone can destroy valuable situations, assets, and relationships. Many values deserve to be defended. Ask yourself what you will change and what you will defend.

4. Have a Sense of Humor.

Humor can give you a momentary “emotional vacation.” A sense of humor can conquer pretense, and diffused anger and hostility. It can take an impossible situation and change it into an acceptable one. The old axiom, “if you take yourself too seriously, no one else will,” is key. The most effective people are spontaneous and can use humor to express their feelings, and to encourage others.

When you set out to be a change master and to make a difference in this world, there is no guarantee that it will be easy. By learning about change, serving others and helping them to learn to change, you will indeed be making a difference.

QUOTES
from the Masters…

 

On Integrity

 

“Always do right! This will gratify some people and astonish the rest.”

— Mark Twain

“A “NO” uttered from deepest conviction is better and greater than a “YES” merely uttered to please, or what is worse, to avoid trouble.”

— Mahatma Gandhi

“The virtue of man ought to be measured, not by his extraordinary exertions, but by his everyday conduct.”

— Blaise Pascal

 

On Kindness

 

“I believe…that every human mind feels pleasure in doing good to another.”

— Thomas Jefferson

“The world is my country, all mankind are my brethren, and to do good is my religion.”

— Thomas Paine

“Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around.”

— Leo Buscaglia

“Because the soul has such deep roots in personal and social life and its values run so contrary to modern concerns, caring for the soul may well turn out to be a radical act, a challenge to accepted norms.”

— Thomas Moore