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How To LOVE Your Work

HELLO | TWELVE, january 2019

 

Happy Friday and February to you! It's the month of love and there's not much that can top the fulfilling feeling of doing work that inspires you. One of my favorite entrepreneurial thought leaders, Dan Sullivan of Strategic Coach® teaches that "the most successful people are those who have learned how to focus on and leverage their unique strengths. In other words, they build their lives around their abilities, not their disabilities." He began talking about his realizations as “Unique Ability®," the essence of what you love to do and naturally do best.

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Keeping your New Year’s Resolution: Strategies to Hold Yourself Accountable

LEARN | TWELVE, FebruARY 2019 

We all make New Year’s Resolutions, but how well do you follow-through on yours? Whether this year you are aiming to eat healthier, exercise more, or write a book, here are some ways to help you reach your goal.

First, identify a measurable goal, possible obstacles, strategies to overcome the obstacles, and what the best outcome would look like to you. One of our favorite tools for this purpose is Strategic Coach’s Strategy Circle®. This is a tool to help you map out creative strategies to help you achieve your goal.

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New Tax Break for Small Business Owners

KNOW | TWELVE, FEBRUARY 2019 

This New Tax Break Can Make a Big Difference for Small Business Owners

The IRS regulations on Qualified Business Income was a major piece of the Tax Cuts and Jobs Act. This deduction is available for tax years 2018-2025 to eligible individuals, estates, and trusts that own interests in pass-through entities. For QBI deduction purposes, pass-through entities are defined as sole proprietorships, single-member (one owner) LLCs that are treated as sole proprietorships for tax purposes, partnerships, LLCs that are treated as partnerships for tax purposes, and S corporations. While the QBI deduction is available to individuals, estates, and trusts, the proposed regulations refer to all three as “individuals.”

Qualified business income means the net of qualified items of income, gain, deduction, and loss from an eligible business that’s operated via a pass-through entity. The deduction does not reduce your adjusted gross income (AGI). In effect, it’s treated the same as an allowable itemized deduction. The QBI deduction also does not reduce net earnings from self-employment for purposes of the self-employment tax nor does it reduce your net investment income for purposes of the 3.8% net investment income tax. The bottom line is that the QBI deduction regulations are lengthy and complex. This column only scratches the surface of the proposed rules. You may need to employ a tax professional to help you sort through the details and get the best QBI deduction results in your specific circumstances. - MarketWatch

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Let it go!

HELLO | TWELVE, january 2019

 

Happy Friday and welcome to the start of another amazing year together! 2018 will be so hard to top, but this year, I personally am focusing on "taking the time to take it in." This means extending the energy to be present, it means hyperfocusing on what I am saying yes to and being willing to say no to most everything else.

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Give the Gift of Feedback

LEARN | TWELVE, JANUARY 2019 

The impact of giving feedback, like a great gift can depend greatly on how it is packaged. Positive or  negative feedback can be equally well received, if the intention behind it is to improve a situation or a relationship. 

Think about the worst gift you ever received. Was it ill conceived or was the intention behind it misread? One year I was given a laser facial-hair remover from my other half. My immediate reaction was to feel offended…”he thinks I’m too hairy!” His intention, however, was that he wanted to save me time and money in going to the salon. All was forgiven, but the gift was still returned. That’s my ME time, after all.

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Amazon’s Foray into Healthcare

KNOW | TWELVE, JANUARY 2019 

Translating the New Tax Bill for Small Businesses

Business owners have many questions since the passage of the massive new tax bill. This article outlines what’s in the new provision, who it affects, and why you likely don’t need to change a thing to benefit. The most important outcome of the new tax law (officially the Tax Cuts and Jobs Act, or TCJA) was to give a large, permanent tax cut to corporations. But most businesses in the US are small businesses, not large corporations. So rightfully, Congress introduced a provision into the TCJA to create a little more parity, called the deduction for Qualified Business Income (QBI) (also known as Section 199A). This provision, unlike the corporate tax cuts, is strictly for businesses known as “pass-through entities.” In terms of taxation, there is only one corporate entity that actually pays taxes, the C-Corporation.

A C-Corporation is usually very large and is primarily structured in order to take on shareholders, as a public company or one that is traded on the stock market. Every other type of business, from a tax standpoint, is known as a pass-through entity. The new deduction for Qualified Business Income (QBI), allows you to deduct 20% of your “qualified business income” from your total business income. For example, if I made $100,000 in profit from selling paintings as an artist, I get to deduct 20% of that — ie, $20,000. This benefit is phased out for individuals making between $157,500 ($315,000 if married) and $207,500 ($415,000 if married) in a number of service-based fields. There are a ton of details and restrictions in this particular new provision, especially if your income falls within the phase-out window, so know that you need to do research or talk to your accountant before you apply it. - Hyperallergic.com  

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Holiday Wishes from Delegate!

HELLO | TWELVE, DECEMBER 2018

 

Happy Friday and welcome to the last month of the year! I hope this year has been as wonderful for you as it has been for me. Forty was definitely fabulous, and filled with so many positive things. As I reflect on the last year, I can think of so many things to be thankful for both personally and professionally, below are our top 10 for 2018:

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Project Management Innovation - Instagantt

LEARN | TWELVE, DECEMBER 2018 

At Delegate Solutions we work with entrepreneurs from a wide variety of backgrounds and pride ourselves on being thoughtful and innovative problem solvers that can find a solution to most obstacles and can customize our strategy to suit our clients.

I was recently working with a client that has used Asana for many years but abandons the project management tool at times of high stress. As we worked to identify what obstacles kept him from implementing projects in Asana to completion, we identified that he is a visual learner and needed a tool that would provide a visual map of the workflow. I looked for a free online project management tool that could incorporate a Gantt chart view and ultimately decided to use Instagantt. Instagantt is a tool that syncs with Asana (or as a standalone) to provide a Gantt chart view for project and workload management. There are numerous benefits and it requires little effort to set up projects.

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A New Addition to Our Family

HELLO | TWELVE, NOVEMBER 2018

Happy Friday and welcome to the start of another beautiful month! I hope this gorgeous Fall season is treating you well. This time 12 years ago, I was about to have my son Nathan. As a mom, I remember the planning, the labor, the delivery and the sudden "parent" status - all of it a whirlwind experience. As an entrepreneur, bringing a new service or product line to market carries a similar weight for me. The excitement, joy, challenge and uncertainty all mirror my path into motherhood all those years ago.

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A Simple Tool to Reclaim Your Time and Leverage Your Assistant

LEARN | TWELVE, NOVEMBER 2018 

If you’re always on the lookout for something to save you time around delegation, Strategic Coach® and Delegate Solutions may have the answer. In our work supporting entrepreneurs, we have found Strategic Coach’s “Impact Filter” tool to help both you and your team understand the results you are looking for and take the burden of those tasks away from you.

First, let's talk about why “The Impact Filter™” is valuable in delegation. This tool allows you to get the project out of your head and specify what you want the ideal result to be. With everything broken down and clear results in front of everyone, your team can take over having everything they need to get started. Doing this simple prework allows you to save time explaining what you want because they already know.

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