Business Tip of the Month from the Inland Northwest Chapter of the National Association of Women Business Owners

July 10, 2008

When will you begin working for yourself?

According to the Tax Foundation, April 23rd is the date when Americans have worked to pay all their federal, state and local tax obligations. Here in Washington our "Tax Freedom Day" arrives six days later, April 29th! The tax liability paid includes income taxes, social insurance taxes, sales and excise taxes, property taxes, corporate taxes, gift and estate taxes and finally other taxes, a catch-all or black hole in the universe much like miscellaneous expenses.

Have I mentioned that living expenses and lifestyle require more work hours, approximately 108 days of sweat equity? So you can see that by mid-August the average American tax payer will be free to work for themselves (after vacations and upcoming holidays are covered)!

These multitudes of obstacles keep us from establishing financial goals and preparing for future needs. The day to begin rewarding and paying ourselves is January 1, every year. Just as tax payments, food, shelter, insurance and discretionary income are dispensed regularly, so should our savings and investments. Remember, the dollars you send ahead today will grow and be delivered in the future.

Helen Sarver, CFP®, CDFA™
Money Concepts

Member Business Profile

MONEY CONCEPTS FINANCIAL PLANNING CENTRE

"Helen Sarver entered the financial services industry in 1986. Since then she has acquired several licenses in the securities and insurance fields. In 1990, Helen was awarded the Certified Financial Planner title, one of the most recognized financial professional designations in the U.S. Later she studied to be a Certified Divorce Financial Planner, enabling her to assist clients in creating equitable divorce settlements. She is a member of the Spokane County Collaborative Professionals who help individuals through the divorce process without litigation.

As a CFP, Helen offers many financial services such as retirement, education and estate planning as well as financial education for individuals and businesses. Money Concepts Financial Planning Centre is a sole proprietorship associated with Money Concepts Capital Corp., the broker dealer."

Helen Sarver, CFP, CDFA
hsarver@moneyconcepts.com
509-467-2529

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