“Women working together to help Women”.  Join us for the monthly meeting of networking and support.  You don’t want to miss out on learning about Tax Tips for the Small Business Owner Presented by Janice Brady – JB Tax and Finance.

Saturday, November 13
8:30 am – 11:00 am
Kona Kai Coffee Shop
124 4^th Ave S.
Kent 98032

WHBR is a not-for-profit organization that provides a way for women business owners to support one another professionally. The membership meets once a month on the second Saturday at a Kent, Washington coffee shop. We network, have business oriented speakers, and generally strive for improvement. Join our community, and share our pooled resources.

Save Money And Reduce Taxes & Tension

11::30-1pm.  The government is not going to change everything we know about taxes.  While they’re making up the rules, you can take the stress and mess out of your basic tax preparation by looking at it as a way to save money.  We’ll go through types of income, way to defer or free up tax payments.

We’ll go thru the basics of deduction and credits for Fed and WA state taxes.

• Renton Chamber of Commerce office.
• 300 Rainier Avenue North
  Renton, WA 98057-5390

No cost to participate.    RSVP needed as space is limited 425-681-1715

Subject: Come in character, dressed the part and bring props that affirm that you are living your BIG vision!

8:30am – 9:30am
Common Ground Coffee Shop in Renton
900 S 3^rd St,
Renton, WA    98057

Join us for a meet and greet.  There will be a short presentation on business relavant topics.  See Biznik for more details.  It is under my portfolio but not the public evnet calendar.  Do you know how to get it form my page to the public page????

Become better organized before you send your numbers to your tax preparer.  Not only should this reduce time and expense of your tax preparation, it will help you understand your spending and organizing processes better.  It’s all about saving money and reducing taxes anyway, isn’t it?

Sponsored by Nate Thornton, Windemere Real Estate.  No cost to participate.  Please RSVP 425-681-1715

5 – 7 pm, Cash Flow –“How to get out of the Rat Race”. Have fun with us using the awesome board game tutelage from Robert Kiyosaki, Real Estate Gazillionaire and world renowned money coach.  Cash Flow – the adult form of Monopoly where you use a board game to learn strategies about the Money game.  Other board games will be available.  RSVP preferred:  425-681-1715.

Vinces Coffee Shop  – 401 Olympia Ave NE # 102
Renton, WA 98056-4117

Oct 15^th Fri, 11 am to 12:30 pm

Building your Net Worth,  Asset Creation and ProtectionWorkshop

What are assets?  How do you determine your net worth?  This easy to follow hands on event will help you review your own net worth.  We’ll review Creation Vehicles– real estate, gold, mutual funds, stocks, retirement plans, other investments and  Protection Arrangements – legal documents, trusts, insurances.  Bring your questions and concerns to learn about these topics.

11 am – 12:20 pm

Renton Chamber,

300 Rainier Ave N,

Renton, WA

Bring your own lunch.   Please RSVP  425-681-1715

The greatest compliment I can receive is you passing my name on to your friends.

RENTON CHAMBER OFFICE, 300 RANIER AVE NORTH
10-11:30 AM OR 2-3:30 PM
COMPLIMENTARY

Unlike many who may have their retirement funded mostly with guarantees made by their employers and the government, today’s assets may be your primary source of future cash flow.  Learn how to create a plan considering the level of assets you have or need to fund. Create your vision of the future including likely income needs, potential tax implications and risks that can stand in the way of realizing your vision.

Do you need this seminar?  Answer these questions to see.

• Do you find the subject confusing or overwhelming?
• Do you believe your assets are not large enough to bother with?
• Do you need growth of capital to meet future income needs?
• Do you need preservation of capital for upcoming income needs?
• Do you need a strategy for reduced taxes on income and inheritances?
• Do you know how to handle your retirement plan payout options?
• Do you know long your income sources will last?
• Do you know how inflation, taxes, and Social Security will affect your future finances?
• Are you prepared for the mandatory Required Minimum Distribution (RMD)?
• Do you know which accounts to withdraw from first?
• Are you relying on outdated unreadable expensive contracts to protect &provide your income?

Wealth Management with J.B. Tax & Finance

There is no cookie cutter solution to your financial needs.  If you answered yes to one or more of these important questions, then come or call for your complimentary consultation.

Contact Janice at 425-681-1715 or Janice@JBTaxandFinance.com for more details.

I met with a young couple who had a son about 8 years old.  As an advisor, I reviewed their financial, insurance and investment paperwork and we discussed their goals: short term, midterm, long term.  I felt their excitement and eagerness to build a foundation for their future and set up savings for themselves and their son.

The next day, I received a call from her regarding the information we discussed.  She admitted she had not been entirely honest with me.  She had an issue she was unable to discuss in front of her husband.

Her news put me in a challenging situation.  Ethically I could not serve them well knowing her secret.  I could not formulate strategies built on false information.  My mind kept repeating, “Honesty is the best policy”.  But their marriage problems were really not my business.   Regardless of my discomfort, I had to tell her my thoughts in the hope of helping them and maintaining my goal – clients for life.  I asked her if she truly loved her husband and wanted to have a long live with him.  “Yes” she answered.   I asked her if she felt he loved her and wanted to be with her as long as life allowed.  Again she answered, “Yes”.   I suggested she come clean with him and tell him about her $55,475 credit card debt.   If they are committed to each other and the relationship, they will work it out.  It was a moment to trust truth and accept the outcome.  She would also have a valuable lesson to help her change her shopping habits.

She called me a few days later.  She had explained her painful truth to him and their relationship had survived.  They were able to discuss the issue; there was no fighting, blaming or belittling – just support and love.

I am humbled and honored by this experience to listen and share my gut information, be a part of their lives and have a success story to tell.  I ‘m glad I was able to address their needs beyond finances and to offer compassionate support.  They are still clients today and their annual family holiday card is one that brings me joy all year round.

I spent an afternoon with a young couple whose goal it was to get a handle on their personal finances.  He was self employed who  spent so much time working the last few years, he was missing out of quality time with his wife and kids.  His immediate goal was to decrease his hours at work so he could spend more time with his family in order to enjoy the kids and do everyday things like ride bikes and play with the dog.

What would happen when he took that extra day off each week?   Was there enough money if he chose to take an extra day off every other week? Being self employed, f he didn’t put in the hours, he didn’t get paid.

This meant that an inventory had to be made of their current spending and spending habits.  Compared to national averages, they were spending a bit more on their mortgage, food/family/fun expenses, insurances, and taxes.  (See chart below)  They were spending less on automobiles, savings, and they virtually had no credit card debt.

We examined their cash flow and talked about short term, midterm and long term goals.  For the short term, they decided they would not pay extra on the mortgage and find less expensive ways to have fun and leisure.  Reluctantly she decided she would plan the meals around sale items and not just whatever she felt like for the day.  I suggested they adapt these new strategies a few months before he reduced his hours.  We would set a follow up appointment to discuss other goals and ways to reduce other obligations (taxes and insurance) in a few months.

I was pleasantly surprised a month later when she called me and told me about “no spend Saturdays”.   Her 11 year old daughter had come up with the idea.  This would be one day where they do not spend any money.  It did not have to be a Saturday, and according to the daughter – “they could not drive anywhere because this cost gas.”  They found that they could walk to the park with a picnic lunch, read, play games, use their imagination, and enjoy each other and the day.  They were doing well within their new spending habits and most importantly, Dad received the priceless gift of time to enjoy with his family

This family found a way to meet financial obligations while getting their most important needs met.  It took a little willingness and some smart decision making.  One day at a time, they found their own financial freedom and will continue to build on their successes.

Here’s some other ways you can save money this summer:

Driving – The department of Energy reports that there are many things we can do to save money at the pump. They report most cars use more fuel when driven over 60 mph.  Also speeding, rapid acceleration, and abrupt stops can burn up to 33 percent more fuel.  Keeping your car well maintained can save 4 percent on gas usage and even using the suggested motor oil can save 2 percent.  For more information visit http://www.fueleconomy.gov/feg/drive.shtml

Garden:    Consider having a plant swap in your neighborhood.  Dig up unwanted plants, separate tubers and bulbs. Make a flyer and knock on doors.  You can save lots of money, get plants perfect for your environment and meet your neighbors all at the same event.

Food:  Say you want a salmon barbeque for dinner tonight.  With the cost of fish soaring you may think twice before just running out and buying the freshest catch.  Check out www.mygrocerydeals.com to see what is on sale on your favorite store before running out and paying full price.  Here in Seattle, King Salmon from Pikes Place market peaked at $38 a pound!   Register on this site and see what is on sale before you go to the store.  By preselecting sale items you can reduce your grocery bill by 50 percent!  So maybe you’ll have pork chops instead of salmon tonight.

Janice is a financial professional and tax preparer in Renton WA.  She can be reached at 425-681-1715 or Janice@JBTaxandFinance.com.

*For your electronic copy of a planned spending worksheet email Janice@JBTaxandFinance.com.  Make sure your write worksheet in the subject line.  Other inquires are always welcome.