This past week, we covered a wide range of tax topics at the October Tax Strategy Camp, did a few exercises designed to uncovered immediate cash flow possibilities and got a month’s worth of education on Internet marketing, crammed into one day.
One attendee who was a CPA said he’d been required to get 40 hours per year of continuing education for a lot of years and this 3 day course had given him more information than he had ever gotten. He said it would take him a day just to go through all the notes he had taken.
We spent some time yesterday looking at pending legislation, most of it stuff we wish would just go away. For example, I’m afraid this plan by a few House Democrats to eliminate the deductibility of 401(k)s may actually go somewhere. There’s even talk of a 5% additional tax on earned income to fund Social Security. In exchange, we’ll get $600 per year (that’s right PER YEAR) of Social Security benefit sometime in the distant future.
We also got some inside scoop on the deal by Countrywide Mortgage to lower interest rates and even in some cases, principal reductions. (This came from an insider who attended the seminar.) And we learned how one participant went from making $30,000 per year as a teacher to actually shutting down a server when she created an online product for $97 and sold 6,000 units in less than 2 weeks. (Grab a calculator and see how much she made off of that one product!) Oh, and we had a country western singer entertain us with an impromptu concert! I’m sure we’ll be hearing a lot from Lana Kress. She’s beautiful, talented, energetic and has a heart of pure gold.
We even raised some money for my son David’s charity, Thunder Mission!
All in all, though, I feel very blessed for the past two weeks. Two weeks ago, I had the privilege of being one of the instructor/mentors for a brave group of women entrepreneurs from Afghanistan. (The ladies gave me an exquisite hand embroidered scarf which I cherish.) And this past week, we had an amazing experience together. Sometimes the worst of times, brings the best of us out.
The only problem is, I’m not sure how I’m going to top these past few weeks.