Go-Pro Inc

Let Us Help You Keep More of Your Money

September 10, 2017
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Recommendations

Fund an IRA if you do not have one look into a Self-Directed, Solo, or Check Book IRA. With these you can use the IRA money to buy any investment (see more on this on our web site). Your company can set up a retirement plan for its employees and if your children are on payroll as employees they qualify. I still like the self-directed kind but that is up to you. This letter is about your company saving tax dollars.

Hire your children I have written a post on Go-Pro’s web site you may wish to read. It has all the information you need to save your tax money when hiring your children. But just an idea of what you will find. In stead of paying your child an allowance, hire them and put them to work. Depending on their age they can file, shred, or even clean. The amount you pay them is deductible to your business. Continue Reading →

August 29, 2017
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Market Place – update

Hello, if you purchased your health insurance through the Market Place. Please, please remember that you need to watch your income. If your income increases you need to up date the Market Place so that you will not have a penalty on your tax returns.

You need to included money from all jobs, interest, dividends, self employment, retirement withdrawals (IRAs included), social security and disability.

August 26, 2017
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We Need a Review From You

I need your reviews. If you liked the work we did please leave us a review.
Thank you in advance!

 

August 18, 2017
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Investments

If you had $20,000 to invest you could put it into a mutual fund. These are running around a 5% profit a year. After 7 years you could have $28,142.

You could use your $20,000 to buy tax liens paying 18% in year 7 you would have $53,991.08

You could  borrow $180,000 and use the $20,000 as a down payment on a rental property with a value of $200,000. Lets assume the rental income covers your expenses. The property goes up in value say 5% a year. After the same 7 years your would have a property worth $281,000. You would owe the bank somewhere around $179,580 and you would have equity of around $101,420.

You could  use the second option except in year two you borrow against your equity to buy another property.  Do this every two years and in four years you would have four rentals worth over $2,000,000. Your equity would be around $273,000.

Once the bank knows what you are doing and that you are actually doing it you would only need 10% to buy the next properties.

Personally, I do not like using other peoples money (loans) so at this point I would work on getting these paid off. Four properties are giving you a really nice living.

To summarize:

$20,000 invested

Net Equity in 7 yrsAvg. annual return
$28,1425.8%
$53,991.0818%
$101,42058.2%
$273,198180.9%

 

August 17, 2017
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If you need fast cash, here are some ideas:

Drive for Uber or Lyft.

Companies like Uber and Lyft offer a great opportunity to make some quick cash. You'll need a clean driving record, a fairly new car and the authorization to work wherever it is that you live. If you have all of those things, you can work when it's feasible for you, whether that's in the middle of the day during rush hour, or in the wee hours of the night on a weekend. The choice is yours.  Continue Reading →

August 10, 2017
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Five Places Where Spending More can Make You More

It’s generally a good idea to keep overhead costs low so that your business profits will be higher. This is especially true with items such as utilities and rent. But there are times when increasing expenses pays off nicely, and here are five areas to consider so you can reap the rewards.

Training -

Whether it’s for you or your staff, good training can pay back for years to come. Learning new skills, no matter what our crafts are, will keep our businesses from becoming stagnant. Implementing what we learn will help us grow. Continue Reading →