The Key To Closing The Economic Gap Is To Encourage Entrepreneurship In Our Children

By: Brandon Gaskins

    This past June, thousands of students graduated from educational institutions across the country. Some went on to continue their education at other educational facilities, while others went on to become working adults; contributing, unknowingly to the capitalistic culture of America. I was one of those proud parents attending my daughters fifth grade graduation. However unlike many parents who attended the graduation I knew in a very short amount of time she would be graduating from high school. I then had to ask myself am I doing everything I can to put her in a position to be successful, sadly that answer is no. Sure I do my part to make sure my children have morals and values, I make sure they respect themselves and others. I even try to encourage them to chase their dreams and not settle for being an employee but that is not enough. 

    If, I want my children to face their fears and pursue a path that is less traveled then I must do the same. It is not enough for me to tell my children to follow their dreams, I have to set the example and take the necessary steps to pursue my own goals. As parents we have a favorite saying, "don't do as I do, do as I say". We say this because we have already adopted bad habits that interfere with us becoming the best person we can be.  Many parents are not financially sound and are not doing enough to make sure their elder years are not spent in despair, trying to make ends meet. We go through life expecting the best, but not doing enough to get the best results. We work two jobs, sign up for as much overtime our employers offer and still we find ourselves falling deeper into debt.

    We may not realize this but everyday the cost of living increases, our dollars are buying less and less and employers are not willing to increase our wages. The average employee will only receive a fifty cent raise on their yearly evaluations, meanwhile that raise will get absorbed by the cost of living, leaving the employee unable to have any kind of social mobility. So many parents are pleased when their children reach the age where they can contribute financially to the household. While this seems like a natural progression, it is one that is stifling most working class families ability to close the economic gap. When young adults are not encouraged to pursue the dreams or motivated to become entrepreneurs, their future income is drastically reduced.

  You don't need an independent study to know that young adults who do not settle for the workforce an instead opt to pursue entrepreneurial endeavors make more than their counterparts and I would imagine they are much more happier. So instead of motivating our youth to get underpaying jobs that will leave them unsatisfied and unmotivated, encourage them to pursue those things that make them happy and then help them find a way to turn that passion into a business.

    

Call To Arms

By Brandon Gaskins

                                                                                                                                                                        My intentions for Idea Tank75 is for it not to be just another personal blog, I want it to become a community blog that grows into a movement, bringing citizens together to create economic change using our own resources. Their is so much more that needs to be done and I am going to need help. If you are a cartoonist, guest blogger, journalist, photographer, someone who needs to be interviewed or a person of interest, a small business owner or citizen that can provide knowledge and resources please email me at ideatank75@gmail.com . Although I cannot pay you for your services, I will gladly provide you with a platform to be seen and express yourself.

Where Is Your Faith?

By Brandon Gaskins

    Ask most people where does their faith lay and they will point to their religion; I question why they are not able to separate the two.   I am not here to judge one's belief or spiritual healing, just as long as you are in the business of spreading love. In my opinion, religions are great at providing someone who is depleted spiritually a base to rebuild themselves from the inside out. No person can become the best person they can be without having a spiritual base and a purpose. Most people find the latter of the two hard to achieve.  Living your life with a purpose requires great sacrifices and a lot of patience. However if you do not have faith you will never be able to live a purposeful life.

It is no small task to say I am going to live the rest of my life not taking the traditional path that everyone else takes, that I am willing to become the hunter instead of being hunted. Meaning you are willing to pursue your dreams instead of expecting things to happen on their own. The reason why there are not more entrepreneurs is because people are scared of taking a risk, they are so dependent on a paycheck that they never get a chance to live a life where their dreams can become a reality.

    So many of us claim to have faith, when in reality most have little to none. Its the reason why we idolize celebrities and athletes so much, because we try to live vicariously through their success,instead of focus our attention on achieving our own dreams. You cannot measure your success by what someone else has done with their life. You have you own path to follow and that may not mean fame and fortune. However do not despair because we know fame and fortune sometimes comes with a price we are not willing to pay. If you dream of becoming your own boss, you must be determined and driven. You must stay the course when the waters get rough and doubt is tapping you on the shoulder. Life will not allow you to just simply wish things would change, it forces you to make decisions that will affect how you will live your life. Have the faith and courage to make the tough decisions or life will choose for you.

10 Tax Benefits Small Business Owners May Not Be Aware Of (Including Writers)

By Brandon Gaskins

1. 50% of your business related meals are covered, be sure to keep receipt.
2. 100% of your business related meals (including rental space and catering) and entertainment (including recreational facilities) are covered, if you are promoting goodwill in the community.
3. Any and all cost related to advertising including website design and hosting fees.
4. If you have a home office you can deduct a portion of your rent, if you buy property that you will be using for business purposes you can deduct a portion of your taxes due to depreciation. 
5. Business travel expenses for conferences, seminars, classes and tours are covered, including flight and hotel. However meals are only covered at 50%.
6. 100% of your health insurance is deductible.
7. Hiring an editor or proof reader is 100% deductible.

   

   Bright ideas start with a connection
   

                                                                                                                                                                                                            

8. Vehicle expenses used for business purposes including maintenance and gasoline, be sure to record mileage.
9. Bad debt due to not being paid by a client; if you claimed the expected income on that years taxes but was never paid you can deduct that loss the following year as bad debt.
10. 100% of your rental car fees are deductible however any personal usage must be subtracted from the amount used as a tax deduction. 

Dont Let Financial Burderns Stop You From Chasing Your Dreams

By: Brandon Gaskins

                                           

   Financial burdens are those material objects that absorb an abundance of our income instead of making us money. The secret is out, America's culture as a collective is to shop shop shop. We are so far removed from the notion that we can become our own boss so we try to spend like one. Even when you become your own boss you should avoid the pitfalls of financial burdens. 

   Most financial burdens occur when people try to present an image that is far removed from their actual income; they try to present an image of someone that has expensive taste and can afford to make big ticket purchases without it affecting their lifestyle. Their chasing a status that says, I am better than you because my car is better than yours,my house is better than yours and my clothes cost more than your rent. Sit on the bus stop for awhile and you will get looks of superiority from many drivers that look your way, even though they are driving in cars they cannot afford. You ever see someone driving an expensive car like they are they only person on the road. They feel as though certain common sense rules do not apply to them because they are in an expensive vehicle. What about the person driving an Audi but living in an apartment or the person that pays $2,000 a month for a rental property they will never own. We spend so much time trying to follow public opinion on what a successful life entails that we fail to listen to our inner voices that beckons us to follow our hearts and dreams to become the best person we can be.

Your wants are just that , wants; you have everything you will ever need to succeed but you continue to look around for your wants. The truth is, if we put forth the same effort chasing our dreams, that we use to chase our wants, we would have all those things and more. You do not have to compromise on your happiness, you don't have to purchase your happiness, it is already a part of who you are. Depression and doubt sets in when we stop believing we can make a difference in our lives and those around us. You were not put on this earth to work for someone else your entire adulthood and live a stressful, unfulfilled life. You were put here to learn, grow and make a difference; you cannot allow other entities to dictate how you will live while on this planet. Live your life with a purpose, as if your mission is to follow your dreams and inspire others to live their dreams as well. If you look around and your unsatisfied with the life you have created for yourself, then maybe its time to hit the reset button and focus on that energy which will bring you closer to your dreams; do not forget to show appreciation to those that assist you with trying to follow your heart.

Think of Yourself as A Business, Before You Become A Business Owner

By Brandon Gaskins

                                                                        

   All businesses started from an idea, it then became the responsibility of that person to do their due diligence to see that idea develop into a business.What does that mean? Well it means you will have to make some sacrifices that you may not be ready for. There is alot of reading, writing and planning that goes into starting a business. Your personal, social and financial life will all have to take a backseat to following your dream. Many recommend quitting your full time job and instead take a part time job or find a service/product you can offer the public. You will have to free up plenty of time to devote to your new business venture. Remember, starting a business is not a part time job, it is a life changing event.

   Their is nothing wrong with wanting nice things but you have to make sure you can afford it and the purchase makes sense. The housing market collapse that happened just a few years ago showed us how people wants were being preyed upon when it came to buying a house. From the moment you become an adult you are told the "American Dream" is home ownership, so its no wonder why so many would sign up for almost any type of home loan. The same goes for car loans, home leases and credit cards, these financial burdens account for the majority of many paychecks. If you ever want to become a business owner you are going to have to stop creating financial burdens. Once you become a business owner you can have those things and much more.

   You will never hear a business owner say,"I'm just working for the weekend". If you do, they wont be a business owner for long. In today's global market, business owners scamper to find ways to market their product or service and spend countless hours doing so. Your business is a product of the work you put into building and maintaining it. The energy you put into properly writing a business plan, handing out business cards, using your public library to give a presentation, all of these steps bring you closer to achieving your goal of building your business or brand. It is an absolute must that you do everything you can to change your lifestyle so that you are the business before one even exists. Even your dress should change, you should have some business and business casual attire in your closet.

  

3 Deadly Dream Killers: Fear, Procrastination, Doubt

By: Brandon Gaskins

   Dreams are so beautiful, they shine so brilliantly, a life where your needs and wants are fulfilled simultaneously; Stress is no longer a component in your life... THEN YOU WAKE UP. How do we get to that life where we are fulfilled completely? We ask ourselves that question several hundred thousand times throughout our lifetime. However a million times a day we are reminded, anything we put our mind to we can do.The irony of life is until we truly stand by our faith (not to be confused with religion), we will continue to suffer in situations that are stressful and unfulfilled.

   So what is fear? Is it something your can touch or smell; No. Fear is something we make up in our head. It has no value, it only has value when we add value to it. Fear does not exist until we give it life. Your scared of going without for awhile or adjusting your lifestyle where you only have the bare minimum? Well you should be terrified of getting old in America without have a six figure retirement. You cannot save up that kind of money, your 401k will not produce that kind of money. The cost of living is increasing so rapidly that your savings will not be able to support you; that's if you are able to save anything at all. You have got to stop allowing your own mental barriers from preventing you from living out your dreams.

   Now you have the courage to attempt to change your life and the energy you feel sustains you for the

beginning, then something begins to happen; you begin to think, "Is this goal something that I can actually obtain? What was I thinking? I could never start my own business, get fit, become an author or an entertainer. Doubt, it puts out the flame that drives our momentum, it interferer's with our ability to maintain a positive state of mind. We start looking towards others for approval, that what were doing is working. During this time it is good to remember the name Gary Dahl. Who is Gary Dahl you ask? Well in 1975 Dahl introduced the world to the very first Pet Rocks.

Okay now we have gotten past the fear of trying to live out our dreams, we have moved past the assumption that our goal is not obtainable, but I can start on it tomorrow. Tomorrow comes yet somehow we don't start changing our lives. Its procrastination, we have all the tools but feel like we have time to spare to start putting them to work. We let the minutes, hours and days go by without putting in the leg work to see our dreams come true. Do not dwell on things that alter your mind state, once you are energized from the belief that you can change your life you must sustain that energy and be fearful of living a life that is not your dream life.