Thoughts From the Finance Factory

8 Ways Blockchain Will Change the World

In part one we discussed the basics of Bitcoin and Blockchain. Now we will look at some interesting places Blockchain may revolutionize the future and a couple of places it is making a difference today. Digital currencies, like Bitcoin, are interesting for the future. However, I am more excited about what Blockchain can and will do in the future. I will look at 8 potential uses for the technology and how I think it will change how many things are done today.


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Bitcoin for Dummies

There has been a lot of exposure in the last few years talking about Bitcoin and “crypto-currency”.  There is a ton of misinformation and confusion about it so I decided to create a blog series looking at the history and future of currency and blockchain.


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What Financial Health Means To Me

The financial world is an uncertain place. My parents have never been very good with money. This lead me to have an unhealthy relationship and bad habits with money. My parents had decent jobs, but were always struggling to make ends meet because they lived beyond their means. I know whoa is me, everyone has a sob story but not having good financial role models makes it very hard for kids to know what to do when it comes to earning, saving, and investing their money.


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Is College Worth The Investment?

What do Ty Warner, Bill Bartman, Ralph Lauren, Ray Kroc, Wally Amos, Steve Madden and Sim Abraham have in common? Besides being successful business men none of them have college degrees. If you have not heard of them you should google them. Their stories are impressive. We all know the stories of Mark Zuckerburg and Steve Jobs dropping out of school to found Facebook and Apple but there are thousands of examples of unbelievably successful individuals who did not graduate college.


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Can Money Buy You Happiness?

Economist Angus Deaton recently won the Nobel Prize for his work on this subject.

Now I know what you are thinking. How can someone win the Nobel Prize for this topic when it has been studied since the invention of currency. Well Sir Deaton’s findings were quite different from prior work about money and happiness.


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The 6 Most Overlooked Income Tax Deductions

With Tax Day fast approaching I thought I would share some of the most commonly overlooked tax deductions. If you are like me you look at the tax code and it drives you crazy. At last count the tax code was almost 75,000 pages long.* How do CPAs deal with it every day.

Before I give you the 6 most overlooked deductions remember to consult a qualified CPA or tax professional before you decide to implement any of these.


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10 Steps To Avoiding Investment Fraud

Fraud is a reality that we must constantly guard ourselves against. There are those who can be considered trusted advisors and there are those who will always be unscrupulous. We know and understand that. Yet, by nature, many of us want to trust and open up to the friendly and seemingly knowledgeable folks we meet. It’s always important to exercise a reasonable amount of caution.


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4 Retirement Options For Business Owners

It is that time of year again. The Super Bowl is over and March Madness is almost upon us and we all know what that means. Tax Day will be here before we blink an eye.   You should be receiving your 1099s, 1098s and W-2’s any day now if you haven’t received them yet. Then the regret or excitement will begin to set in as you realize that you will either owe Uncle Sam or you will get a refund because you gave the IRS and interest free loan of your money.

This isn’t a post about tax planning but better yet a post about how business owners can manage their tax burden (something I hear is a priority from many business owner client I deal with) and save for your retirement at the same time. (more…)