Discover this podcast and so much more

Podcasts are free to enjoy without a subscription. We also offer ebooks, audiobooks, and so much more for just $11.99/month.

Max Out Your Tax Bracket

Max Out Your Tax Bracket

FromMarketing In Your Car


Max Out Your Tax Bracket

FromMarketing In Your Car

ratings:
Length:
17 minutes
Released:
Apr 4, 2014
Format:
Podcast episode

Description

A simple three step strategy to make sure you’re in the highest tax bracket. ---Transcript--- Hey everyone, this is Russell. I want to welcome you to Marketing in your Car. I just got done meeting with the accountants, which if you’ve been listening for any length of time you know is by far my least favorite thing in the world. I would have rather gone to the dentist and get my teeth drilled but it is what it is. I met with the accountants to do our tax return stuff and sign a million papers, all that fun stuff. I also had the chance to find out that thanks to Obama, my tax bracket is now, I think we pay 47 percent. Isn’t that crazy, almost half of our money. We’re sitting there first and talking about obviously why it makes us angry. Then there are basically two options. One option is fire everyone and make less money, and just get taxed less or option number two is go and try to make tons more money. You get 50% of it so let’s just double, triple, or quadruple what we’re making. We thought, “You know what? Not only am I going, obviously set a goal to make a lot more money. I want people on my team to max out their tax bracket too.” How cool, yeah, you maxed out your tax bracket but let’s set a goal for our team. I want three or four people on my team to max out their tax bracket too, to make that much money as well. That’s my new goal is to not only max out mine but everybody else’s. It basically comes down to you got to make $450,000 to max out your tax bracket is my understanding, is what the accountants told me today. For all of you guys, I think that should be instead of looking at it as a negative thing because it is a negative thing but when you’re negative about it, it just takes your focus off, it takes your eye off the prize and makes you angry instead. Let’s look at it as a positive thing. For all of you guys, that should be your first goal right now. Everyone has, “I want to make a million dollars,” or whatever but let’s make the goal I want to max out my tax brackets. I need my income to be $450,000 so that boom, I maxed out my tax bracket and the government is going to take half my money. As depressing as that is, that can now be a cool, exciting, fun thing to shoot for. After you’ve done it for yourself, you got any partners, then boom, that’s your next one to get your partners to max out their tax bracket. Then let’s get our employees. Let’s get everyone on our team to max it out because then we’re making a lot of money. That’s fun. That was my big takeaway from the accountants was just let’s shift our focus on what our goals are and figure out how in the world we can max out our tax brackets. There are a couple of ways you can do that. This is the education part of the podcast. I’m assuming that all of you guys here have your own business. If not, you need to start your own business. Let’s get that out of the way. After you’ve got a business and you’re focusing on growing it, there are only a couple of ways to grow a business. A lot of you guys know who Jay Abraham is. If not, he’s a really cool guy to study. As a person, he’s kind of weird but his products are really good. He talks about there’s only three ways to grow a business. He says there’s one way you can get more customers. That’s the way a lot of us focus on. We’re always talking about traffic, advertising, customer acquisition because that’s the first way to grow a business, to get more customers. It’s also the most expensive one. The second way to grow your business is to get your customers to give you more money, to get them to spend more. You can do that by increasing your prices, adding upsells, all these types of things to get them to spend more money. Then the third way is to get them to buy more often. You have more products, more services, more cool things for them. Those are three ways to grow a business. What’s interesting is that most people, they focus just on the first one which is more traffic, more traffic. It’s interesting because I
Released:
Apr 4, 2014
Format:
Podcast episode

Titles in the series (100)

Welcome to the DotComSecrets.com "Marketing In Your Car" podcast. Did you know that you can dramatically grow your business during your commute to the office each day? In just 10 minutes a day you can learn marketing, traffic, conversions and sales from internet marketing expert Russell Brunson. Each podcast is under 10 minutes, so you can get this priceless information in bite size chunks in your car!