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Tax Savings Effective 7/1/08

Bigger Tax Deduction for Business Use of Auto

The IRS announced that, as of July 1, 2008, Standard Mileage Rate (SMR) for deducting business use of your personal vehicle, increased by 8-cents per mile. The NEW RATE is 58.5¢ per mile as of July 1.

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[Recession-Proof Your Business]

The Law of Attraction & Tough Financial Times

by Joan Sotkin

There are days when it seems like the whole financial world is falling apart. There are also days when the market goes up and you can feel optimism building among investors. For the average person, however, things look difficult--and at times impossible.

A problem for those who want to improve their finances during tough economic times lies in maintaining a mindset that allows for wealth building. When fear abounds, tuning into it is easy. Stepping out of fear and into hopeful optimism takes some effort. 

The Law of Attraction states that what you manifest reflects your thoughts. And the authors of The Secret stress the importance of maintaining positive thoughts and focusing on what you want, not what you don't have.

Along with your thoughts, the emotions they stimulate are the creative force behind what you manifest. So staying in a positive frame of mind and having positive expectations for the future are essential for success, no matter what's going on around you. 

How can you do this? Here are some suggestions.

1. Stay focused in the moment, not on the future.

Fear can easily be stimulated when you start making conclusions about what will happen to you "if" - when "if" hasn't happened yet. The future is just a guess from the perspective of the present.

Common thoughts might include, "If I run out of money, then . . . ." or "If I can't pay my mortgage, then . . . " Those thoughts usually lead to uncomfortable feelings and dire predictions. 

When the fear comes up, switch your focus from the future to the current moment. Ask yourself the following questions:

* At this moment, do I have enough to eat?
* At this moment, do I have a place to live?
* At this moment, am I free to take action?

2. Switch from fear to gratitude.

Look around you and see what you have and express gratitude for all the things you have and have been enjoying. Take a deep breath, say to yourself, "I am grateful for ______," and generate the feeling of gratitude while you do this. Every time fear comes up, do this exercise.

Build Your Money Muscles 3. Imagine some possible positive outcomes.

Do some creative thinking. Your self-talk might include: Even though I am facing more expenses than I can handle, I could take some action. If I decide to _____ (fill in a possible action), then I can generate the money that I need (Or make arrangements with my creditors, or be safe for another month, or _____. You fill in the blank.)

Keep in mind that no matter what is going on around you, there are always opportunities for making money. You may have to behave in a way that is new for you, but the consequences of this new behavior could lead to a better way of living for you--one that is comfortable and secure. But you have to imagine it first. 


4. Stay in touch with your feelings.

Tough times present a great opportunity for getting in touch with deep, unexpressed feelings. Dialog with yourself to find out what you are really afraid of. Ask yourself, "When I get beyond the fear, what am I feeling?"

Are you feeling alone? Ashamed? Angry? Deprived? Trapped? Probably one or all of these. I can guarantee that whatever you are feeling, it isn't the first time you have had these emotions. By paying attention, you can now release the old emotions you are carrying around with you.

To help you with this, I suggest one or more of the following:

Build Your Money Muscles, especially Exercise 3 and Exercise 7.

Healing Your Financial Shame

Let Go of the Aloneness Blocking Your Prosperity

Be Set Free Fast
Teaches you how to do deep emotional releases and alter uncomfortable emotional states.

 

© 2008 Joan Sotkin (Reprinted with permission)

 

** Please stop by Joan Sotkin's website for timely information about you and money: www.prosperityplace.com.

 




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