| QUOTES from the
Masters... |
| On Leadership |
On Expectation |
| "A
good objective of leadership is to help those who are doing poorly to
do
well and to help those who are doing well to do even better." -- Jim
Rohn
"Leaders
think and talk about the solutions. Followers think and talk
about
the problems." -– Brian
Tracy
"Leadership
is the ability to decide what has to be done and then get people to
want
to do it." -– Patricia Fripp |
"Today
I live in the quiet, joyous expectation of good." -- Ernest
Holmen
"The
real winners in life are the people who look at every situation with an
expectation that they can make it work or make it better." -- Barbara
Pletcher
"You
always act in a manner consistent with your expectations, and your
expectations
influence the attitudes and behaviors of the people around you."
-– Brian
Tracy
|
|
What
Conditions Must Be Met to Fix the Value of
Your Business for Estate Tax Purposes?
If certain conditions
are met, a binding
buy-sell agreement may fix
the value of a business interest for estate
tax purposes. The purchase
price,
whether a fixed amount or one determined by a formula, can be accepted
as the estate tax valuation if these
conditions
are met:
1. The
buy-sell agreement must create an enforceable
obligation on the part of the estate
of
the deceased owner to sell and the buyer to purchase the business
interest.
2. The
buy-sell agreement must prohibit
the owner from disposing of his or her business interest during
lifetime
without first offering it to the other parties to the agreement at a
price
not higher than the price (fixed or formula) specified in the agreement.
3.
The buy-sell agreement must be the result of an "arm's
length" transaction, meaning that the
price must be fair and adequate at the time of the agreement or any
subsequent
reevaluation.
Without a binding
buy-sell agreement, there can be a
great
deal of additional detail and uncertainty as to the valuation of a
business
interest at the owner's death, adding to the time and expense required
to settle the estate, as well as making it difficult to predict and
plan
for any estate taxes that may become payable.
|
| MESSAGES
from
the Masters... |
SUCCESS
IS EASY, BUT SO IS NEGLECT by Jim Rohn
People
often ask me how I became successful in that six-year period of time
while
many of the people I knew did not. The answer is simple:
The
things I found to be easy to do, they found to be easy not to do.
I found it easy to set the goals that could change my life. They
found it easy not to. I found it easy to read the books that
could
affect my thinking and my ideas. They found that easy not
to.
I found it easy to attend the classes and the seminars, and to get
around
other successful people. They said it probably really wouldn't
matter.
If I had to sum it up, I would say what I found to be easy to do, they
found to be easy not to do. Six years later, I'm a millionaire
and
they are all still blaming the economy, the government, and company
policies,
yet they neglected to do the basic, easy things.
In
fact, the primary reason most people are not doing as well as they
could
and should, can be summed up in a single word: neglect.
It
is not the lack of money - banks are full of money. It is not the
lack of opportunity - America, and much of the Free World, continues to
offer the most unprecedented and abundant opportunities in the last six
thousand years of recorded history. It is not the lack of books
–
libraries are full of books - and they are free! It is not the
schools
- the classrooms are full of good teachers. We have plenty of
ministers,
leaders, counselors and advisors.
Everything
we would ever need to become rich and powerful and sophisticated is
within
our reach. The major reason that so few take advantage of all
that
we have is, simply, neglect.
Neglect
is like an infection. Left unchecked it will spread throughout
our
entire system of disciplines and eventually lead to a complete
breakdown
of a potentially joy-filled and prosperous human life.
Not
doing the things we know we should do causes us to feel guilty and
guilt
leads to an erosion of self-confidence. As our self-confidence
diminishes,
so does the level of our activity. And as our activity
diminishes,
our results inevitably decline. And as our results suffer, our
attitude
begins to weaken. And as our attitude begins the slow shift from
positive to negative, our self-confidence diminishes even more...and on
and on it goes.
So
my suggestion is that when given the choice of "easy to" and "easy not
to," you do not neglect to do the simple, basic, "easy," but
potentially
life-changing activities and disciplines.
To
Your Success,
Jim
Rohn
|
We
don't want to add to your e-mail clutter! If you do not enjoy
my
newsletter, just reply to this e-mail and ask to be removed or call my
office. Thanks!
The purpose
of this newsletter
is to provide information of general interest to our clients, potential
clients and other professionals. The information provided is
general
in nature and should not be considered complete information on any
product
or concept described. For more complete information, please
contact
my office at the phone number above.
|
