What's in the Stimulus for YOU?

From The Wall Street Journal @ WSJ.COM
By ARDEN DALE, VICTORIA E. KNIGHT and JILIAN MINCER

Consumers get spending money and a helping hand with some key expenses under President Obama's stimulus plan.

By far the biggest tax piece in the plan is the Making Work Pay tax credit. It would put a bit of cash into pockets, probably by having employers withhold less tax. Each eligible worker would get 6.2% of earned income up to a maximum credit of $400 ($800 for two-earner couples). So folks would see an extra $12 to $20 per weekly paycheck, depending on whether the government pays it out over six months or more.

Many taxpayers will get the Making Work Pay credit, though it isn't open to anyone who earns more than $95,000 ($190,000 for couples). Its slow-drip approach is likely to stimulate spending, according to some tax experts. In hard times, people tend to stash a larger windfall in a savings account, says Roberton Williams, senior fellow at the Tax Policy Center, a joint venture of the Brookings Institution and the Urban Institute. An extra $20 each week, however, is more likely to get spent at the movies or on a piece of clothing.

First-time homebuyers also get a tax break under the plan.... Click title for rest of story -


~Dorethia
http://www.connercoaching.com
money management for real people!

Finish Your Business Plan in 3 Months!!!

Ahh, a business plan!!! Is the idea of tackling this task overwhelming in the midst of everything else on your 'To Do' list? Many entrepreneurs put it off, but the business plan is the foundation for your company. It is not just a document you need if you are approaching investors or banks for loans. Even if you are funding your business yourself you need a business plan!

You discover things about your methods, ideas, and industry when you have to put all your research and hard work down on paper. You can save yourself a lot of time and money when you have a written plan!!!

A Few Quick Tips!

1. Spend two weeks on each section: there are 10 - 12 sections in a business plan - two weeks on each section = 3 months.

2. Finish the sections that are the easiest for you first. If you already have an idea of your operations or company description -complete those and then tackle the areas you have to research.

3. Write the Executive Summary last as it 'summarizes' the detail of your plan.

The portions that may need a little more time is the research you will need to do for your Market Research, Industry and Competitive Analysis. But don't drag it out - set specific days and times to work on it and stick to your deadline!


Check It Out -

www.Score.org: Business planning and financial templates for startups and existing businesses

Score offers some one of the best templates I've found complete with explanations of each section - and they're free! No two-ton book to buy or carry around!!

Ramping Up Your Side Gig!!!

In times like these we cannot always wait for traditional means of earning an income only. Think of ways to earn money that maybe you wouldn't have considered before. What can you do that would not require a large cash outlay? For instance, a bucket, a mop, and some soap and you're ready to clean homes and offices.

Tap into your talents - what do you enjoy doing in your spare time? What are you good at that people praise you for? Maybe there's something you always wanted to do but never had the time. Now, may be the opportunity to make the time!

Handy around the house? There are plenty of women/seniors who could use someone to fix things up a little, clean out the garage, etc and would gladly pay.

Do you love children? Babysit for a family that works the night shift. The kids will be sleep for most of the time - parents pick them up as you are getting ready for your work day - easiest gig ever!

Do you have a way with words? You can write blogs, articles etc. for people who have great ideas but don't know how to articulate them.

Always loved English? (or Science or Math or Speech...you get the picture) Tutor a student who is struggling in that area.

Do you live in an apartment building or in a tight knit neighborhood? Offer to clean the inside of your neighbors cars weekly, do the outside as well if you can.

Are you a great cook or have a special family recipe? Make your goodies and sell to your coworkers, friends, etc.

Fitness as a hobby? Do you have some equipment at home or great workout techniques? You could charge $5 per person and let people you trust use your 'gym'

These are just a few ideas, there are endless opportunities unique to your situation!

TO DO:

1. Write down at least 10 talents/things you enjoy or can make money doing.



2. Which ones can you implement THIS WEEK? Develop a serious action plan to get started!!




Remember:

YOU decide the financial state of your household! Make it Happen!!!!

- Dorethia