Clinton's Estate Tax Plan Will Hurt Small Businesses

While I am going to write about this in more detail in an upcoming newsletter... I think it important to also 'double up' here.

As you all know I am no big fan of either of the main candidates...but I will hold my nose and vote for Hillary. I may explain in another post shortly.

But that said, I am deeply concerned about her desire to change the Estate Tax program for the very, very worse for small business owners. Currently, the threshold of zero taxes is in the $5 Million range. Under her plan it would fall to the $3 Million range, at which point the tax would be 40%.

I just helped a client sell his publishing company for $2.2 Million. he has a house paid for, and some savings. Even after paying taxes on his sale, his estate is going to be over $3 Million. Without some serious thought, anything over, which in his case today would be about $600K... would cost his family almost a quarter million dollars.

And the only reason he would even be aware would be his sale of his company.

There are thousands, tens of thousands, of business owners who fall into this category. A business worth 1-2Million, a house, some savings, IRAs, a second home maybe... and all of a sudden, after the IRS values the business after the owner's death... an ordinary family is now into $4 million in assets... on which, under Hillary's plan, they would have to find and pay up $400,000.!

Just a reminder that anything can happen and you MUST stay current and focused on protecting your assets and tax structure at all times.

Let me know if you have any questions.

One More Reason to Stay Out of Arizona... Sorry Publishers...

 http://www.msn.com/en-us/news/us/father-%E2%80%98utterly-terrified%E2%80%99-after-trooper-points-gun-at-his-7-year-old-during-traffic-stop/ar-BBvGa3g?li=BBnbcA1&ocid=U346DHP      

Normally, I wouldn't mention this article in a blog on publishing, but it merits a mention if only for your personal safety. Now, I can also send you to about 50 articles about Georgia and any number of other Southern states and how they love traffic stops and seizures of cars and money under the grossly misused Civil Forfeiture Laws... but this one in Arizona is cause for a bit of alarm. Not so much about what happened... I am sure it happens all the time to people of color... but the fact that the State Police didn't back off even one iota after everything came to light... suggests they have taken their training from the Joe Arpaio School of Good Manners and Clear Thinking.

Frankly, if you can avoid driving in any state to state project, I would do so. You are much more likely to have issues on the road than you would in airports, train terminals, or anywhere else, even being a tourist. And they are more likely to result in loss of life or your car and money, than even being in the middle of Chicago.

While I support the police and their work, their difficult jobs, and what they face on a daily basis... from what I have seen, it appears there ARE some seriously bad apples in the barrel, but the Blue Wall of silence seems to protect them. And that is unfortunate because it isn't going to be too long before the citizenry completely loses respect for the whole profession... making ordinary daily interactions into tiny civil wars on the streets.

So, the takeaway here is not so much to avoid Arizona... though Mr. Arpaio is sufficient reason to stay out of HIS jurisdiction... but for all of us to work within our communities to find solutions to this tinderbox issue. It ISN'T going away and unless we all decide to work at it...and not protest the National Anthem, but actually DO something... like cancer, we will destroy our country from the inside out. No need for anyone to invade us... there won;t be anything worth invading if these issues continue to go unchecked and unresolved.

SO PHYSICAL BOOKS AREN'T ABOUT TO DISAPPEAR

As I have been saying in my newsletters now for almost ten years... Physical Books are NOT going to disappear... they aren't even going to be supplanted by eBooks. According to Nielsen Book Scan 2015 physical books sold were 17 MILLION more than 2014. 571 MILLION books.

So what does this say? Well, it doesn't say rest on your laurels. If you know what laurels are. You had better get out and bust it even harder in 2017 if you expect to stay in business. Distribution, bulk selling, direct selling, social media... dozens of ways to get the word out and the cash register ringing. Just remember that you DON'T have to go eBook if you don't want to.

It is YOUR strategic plan and YOUR future. I would rather do less work, make less sales, and make each one more profitable. That's just where I am in the process. I do not want to make $1 a book on my orders, so eBooks are out for me. Yes, you could sell 10,000 of them...but if I sell 2,000 physical books and make $5 each on them. I have made the same amount of money with 1/5 the bookkeeping and tracking and customer service. In fact, if I could I would sell 2,000 books to one customer and really minimize my work. but that is just me.

You are free to have any strategic plan you want... but DO have one... or you will bounce around like a pinball with every new fad and fancy and likely never make any real money in this business. I have been fortunate to have made a living... more than a living... for many decades in publishing. And you can too.

Plan, Execute, Succeed, Exit.

Martin

AMAZON (AND APPLE AND HUNDREDS OF OTHERS) AREN'T AS 'CLEAN'

http://www.msn.com/en-us/money/companies/how-amazon-keeps-tax-collectors-at-bay/ar-BBuhzud?li=BBnbfcN&ocid=U346DHP

As everyone wants to believe. And by 'clean' I mean, oh we love to pay our taxes... we are a loyal US company... and all the rest. This story above is about Amazon, but Apple and, from another source I have, hundreds of other "socially responsible" firms, participate in the same worldwide tax shenanigans. All perfectly legal... but don't ever think these guys are the 'good guys'.

Those of you ready to slap taxes on companies moving out of the US... be aware the BIG tax money to be collected isn't from them... but from all the "wonderful" US companies who remain US based, but then turn around and hide from U S taxes BILLIONS of dollars! Legally, of course.

So, if you really believe these companies are looking out for your interests... grow up. And stop bitching about all the money not being paid by those nasty corporations... which include many of your favorites.

Martin

Self Publishing is Going to Put Publishers Out of Business ... Really?

http://www.bookbusinessmag.com/post/authors-need-publishers-less-ever/#utm_source=book-business-insight&utm_medium=newsletter&utm_campaign=2016-08-01&utm_content=authors+need+publishers+less+than+ever-1

Well, I am sure this person has plenty of evidence of his opinions. And I am equally sure there are hundreds if not thousands of disgruntled authors who are pleased as punch to be self employed.

But, the one factor this person doesn't consider is entrepreneurial capacity. In simple English, not all writers are good business people. And Lord knows I have met many of them and they have often called on me to help them with their "business" side.

I will tell one story and let this subject go so you publishers don't go to bed tonight scared of the dark too: Self pub comes to me..paying I think $5/book for POD service. Gets an order for 1,000 books and was asked for a DEEP discount... and wonders how he is going to sell books at a DEEP discount when he pays $5 a book to print them. Hello! How about using a real printer and get your price down to about $2 a book? Then you can sell them for $5 a book and MAKE $3,000! 

While we as publishers should be kind to authors... you know my stand about them. They are NOT partners and certainly NOT part owners of your company. So don't treat them that way. Respect but bowing down and ass kissing... that is reserved for the ones that truly count... CUSTOMERS who place big orders!  For a 10,000 book order I will have the first 1,000 delivered by limo and you can use the limo the rest of the day. 

Remember, it is just as easy to sell one customer a thousand books as it is to sell 1,000 customers one book each.

Martin
 

Welcome to the NEW NPL site.

Notice a few changes...

Less text. You know what I do and how I get it done. If you feel you need my help, you probably do.

Simple navigation. Not a hundred pages of explanations. If you want to contact me, then do it today.

Two interesting pages.

The Blog page, here, where I will be speaking regularly on topics of import to publishers. I will get a bit more 'wide ranging' than in my newsletter. Expect blog posts a few times a week when things are happening... maybe once a week when things are quiet.

The Listings page. Where I am putting all the companies I have for sale currently. I am likely to do this as I get new companies... so it could be once a week or once a month... but do come back and check in, as I wont be listing them in the newsletter as much.

Conclusion. You know who I am and what I do. If I may be of service, contact me immediately and let's get successful together. Strategic, Marketing, Growth, and/or Exit Plans. 

Martin