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Without a doubt, the tax laws in the US are not fair. They are weighed heavily in favor, not of the rich, but of the do-ers. If you're happy with the same ol' W-2 income or even if you're not happy, but complaining bitterly, unless you are prepared to take action, the government doesn't have any tax benefits for you.
You must start.
There is an interesting distinction between "getting ready for a new trade or business" and "enhancing your skills with the trade or business." As an example, let's say you are learning how to become an investor. If you study and study, attend seminars, take home study courses, etc... you can spend a lot of money. And you can't write off a SINGLE PENNY of that money. That's because that money is preparing you for a new trade or business. On the other hand, if you make a trade or two and then discover you need more training and study the same exact materials, attend seminars, take home study courses, etc. it is all a write-off.
You must start.
And, from a psychological point of view, it's very easy to get stuck in analysis paralysis - always testing, testing, testing and worrying about the "what if scenarios." That's the knowledge paradox. The more you learn, the more you discover you don't know. You will NEVER know enough.
You must start.
Winners aren't people who never lose. Winners are people who know that they can recover from whatever set-backs occur. In fact, I bet that most winners have more losses than someone who might call themselves a "winner" because they never try, and hence never lose.
You must start.
So whatever it is that is holding you from starting, I urge you to look at that today. Long after others have grown weary of the endless questions and hypothetical scenarios, you'll still be analyzing. You can stop all that by starting.
So, start your business, start investing, whatever it is - START TODAY.
You must start.
There is an interesting distinction between "getting ready for a new trade or business" and "enhancing your skills with the trade or business." As an example, let's say you are learning how to become an investor. If you study and study, attend seminars, take home study courses, etc... you can spend a lot of money. And you can't write off a SINGLE PENNY of that money. That's because that money is preparing you for a new trade or business. On the other hand, if you make a trade or two and then discover you need more training and study the same exact materials, attend seminars, take home study courses, etc. it is all a write-off.
You must start.
And, from a psychological point of view, it's very easy to get stuck in analysis paralysis - always testing, testing, testing and worrying about the "what if scenarios." That's the knowledge paradox. The more you learn, the more you discover you don't know. You will NEVER know enough.
You must start.
Winners aren't people who never lose. Winners are people who know that they can recover from whatever set-backs occur. In fact, I bet that most winners have more losses than someone who might call themselves a "winner" because they never try, and hence never lose.
You must start.
So whatever it is that is holding you from starting, I urge you to look at that today. Long after others have grown weary of the endless questions and hypothetical scenarios, you'll still be analyzing. You can stop all that by starting.
So, start your business, start investing, whatever it is - START TODAY.
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