Ah, the last week of the year. It’s time to review past triumphs (and failures), and to plan for future goals. It’s also time to think about taxes.
Though yesterday was Christmas, I took some time to work on my finances. Get Rich Slowly (the business) earned more money than I expected in 2008, so I’m looking for ways to minimize my tax burden. For inspiration, I turned to Blueprint for Financial Prosperity’s ten easy year-end tax tips. If this snow ever clears, I’ll probably drive out to purchase some things for the GRS office.
Meanwhile, Chris at The Art of Non-Conformity writes that the last week of December is a great time to conduct your own annual review. He says this is one of the best tools he has for pursuing his goals. “Remember, we tend to underestimate what we can do in an average year. Set your goals high. Take some time to do this right, and you’ll thank yourself later.”
As you’re prepping for the new year, why not resolve to be more responsive. An older article at Business Week has some great tips for making a good impression: respond quickly, be enthusiastic, make eye contact, be respectful. This is good stuff (and reminds me of the classic How to Win Friends and Influence People).
Finally, a reader sent me an article about the grow grow years from Heronswood Voice, a nursery blog. The author extols the virtues of gardening, writing:
American Capitalists, don your jeans and straw hats and join me in the Great American Garden. You have nothing to lose but your losses. This is the only place where your investment yields, at least, a 25-to-1 return.
This astonishing garden-grown ROI is not modern-day speculative sleight-of-hand, but real, tangible and fungible. The pragmatic, prudent, down-to-earth principles and values that made this country great still work–and can put delicious food on your table and green in your wallet.
As the Get Rich Slowly garden project demonstrated, these claims are a little extreme. But it’s still possible to earn a 2-to-1 return on your investment, provided you contribute some time.
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I’ve checked all of the sites mentioned above because I am subscribed to them too =)
Happy End of the year? =)
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Goodness knows I’m doing my own annual review. And New year’s resolutions. But not in the cheesy way. in 2008, I actually kept all of my resolutions because I turned them into a real plan. It made such a huge difference. Now is the time to make a new set of resolutions I can hopefully keep.
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This is the time where I review all my expenses and plan out for next year. I all for doing a budget a year ahead…
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Thanks for the love man, the tax tips aren’t exceptionally novel but they are easy…
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Last nite, I took the time to make a list of the Financial Goals that I would like to accomplish in 6 months. It took a lot of thought. I broke it down month by month as to what I would have to do. But now I’m looking forward to June rolling around, to see if I will have made those goals a reality. I believe I will. I’m keeping my list next to my computer, where I will see it and be reminded each day. I noticed that when I see sale items, like advertised in the paper today, I’m no longer tempted because I know buying anything now that I don’t need, will keep me from achieving those goals. This is working so well for me, psychologically speaking, that I’m going to make new financial goals every 6 months. 6 months seems right around the corner to me, so doing this twice a year, rather than every year just feels more doable to me.
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Some more tax tips for GRS readers: Early 2008 Tax Tips – http://adawnjournal.com/2008/09/23/early-2008-tax-tips/
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Thank you in particular for the link to the article about an annual review. I’m going to try this my personal goals since I’m already happy with the spending plan that my dh and I created for next year. Thank you also for the many well-written articles. Even if it’s not a topic I’m especially interested in, I still learn something. And I never want to stop learning!
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It is a good time to set financial goals for the new year.
Using your money to create the kind of world you want to live in – is important.
Aligning your money with your values can have positive impacts from the supermarket to the stockmarket
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I know the tax loopholes that so many business owners like to seek out are legal, but I still have to smile at everyone’s scramble to pay less taxes given that they’re probably also complaining about the cutbacks in state programs that benefit them.
We’re losing several rec centers in Columbus because Uncle Sam fell on his face and the states followed suit. It sounds frivolous but those centers were often the safest places where the less advantaged children in this city could spend time during the day and early evening.
Apparently we are going to have less of a rat control program now too. In the U.S.’s fifteenth-largest city.
It’s going to be an interesting year.
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Hi, J.D.
Congrats on your prosperous year! I wish you many, many more. You are a very good writer and your readers make very thoughtful comments. I’ve visited your website daily for most of this year. I’ve learned alot. I found it looking for help for my daughter after her boyfriend ran up $12,000 in cc debt on her card. She now knows a authorized user is not responsible for that debt. Her father and I are and always have been in good shape financially, because we live below our means. We value time and skills more than money and things. I love gardening. The food and exercise is just bonus. My former boss and another gardener I know love it because they make a $150,000+ incomes from it(multi farmers markets around D.C.). We’ll get the marriage deduction for this year. Marriage license $30, marriage ceremony $50, looks on our 27 yr. old daughter’s and 23 yr. old son’s faces one week later, PRICELESS!
*Not sure if this is a repeat. Previous one disappeared before I typed the last word. May have hit submit, but not sure. Please delete as needed.
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