Take a look at our September newsletter!
SEPTEMBER 2023
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THE HISTORY AND SIGNIFICANCE OF LABOR DAY CELEBRATE AMERICAN WORKERS
For many, Labor Day means a day off work, a long weekend, fun barbecues, parades, celebrations, and the last weekend of summer. Some even say you can’t wear white after Labor Day. It’s a time to kick back, relax, and be grateful for the hard work and contributions of all Americans. After all, it’s estimated that the average American spends roughly 90,000 hours of their life working. Every year, Labor Day is celebrated on the first Monday of September. Beyond being an exciting long weekend for most workers to have off, Labor Day has a rich history. The first “idea” of the day traces back to the labor movement in the 19th century. At the time, Americans
aside a special day to celebrate and honor our American workers gained momentum, and more states began to hold events.
Eventually, in 1894, President Grover Cleveland signed a bill into law that made Labor Day an official federal holiday. Every year since, Labor Day has served as a reminder of the tireless efforts and sacrifices workers make year-round. Here at CHB, our team works hard to serve our clients. They are dedicated to helping our brokers succeed in their careers and support their families. We are so blessed for the team we have in place today — they are skilled, passionate, knowledgeable, and determined, and they have integrity and are genuinely good people. They care about our clients and coworkers, and their values align with CHB’s. They are the backbone of our excellence and constantly deliver the “wow” experience for our clients and partners. One of the critical factors that makes our staff exceptional is their continuous pursuit of knowledge and growth. Our team members are dedicated to staying at the forefront of industry trends. They undergo regular training and participate in professional development opportunities to ensure they are equipped with the latest tools and knowledge to best serve our clients. Our team is truly our secret sauce. Without them, CHB would not be what it is today. This Labor Day, we hope you were able to enjoy the day with family and friends. We thank our team, and we thank you for all of your hard work. America truly is the greatest country in the world — only because of those who work hard for the betterment of our society and nation. God bless America! –Kit West & Ed Meyer
faced grueling working conditions, long hours, and inadequate pay. As a result, Americans formed labor unions to collectively
“They are the backbone of our excellence and constantly deliver the ‘wow’ experience
advocate for their rights and improve working conditions.
On Sept. 5, 1882, the first unofficial Labor Day celebration took place. The Central Labor Union organized a parade, and thousands of workers marched through the streets, demanding
for our clients and partners.”
better working conditions, fair opportunities, and shorter hours.
Following the celebration, setting
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Don’t Pay More Capital Gains Tax Than You Should!
USE THIS ESTATE PLANNING LOOPHOLE TO SAVE
There are plenty of estate planning maneuvers, but when done without the guidance of an attorney, these techniques may end up costing your family a fortune. One action that can do more harm than good is transferring your assets into your children’s names. While it might seem like you’re helping them, they could miss out on a significant tax break: step-up in basis. What is the step-up in basis loophole? When you want to transfer a physical property or stocks into your child’s name, they will often need to pay a substantial capital gains tax. The value of these assets increases over time, and when you transfer them to your child, they will have to pay tax on all the appreciation, or the increase in value, from when you first purchased the property to the sale date. Regarding homes, the value can significantly increase over just a few decades. After two decades, the home’s appreciation can easily be hundreds of thousands of dollars. As a result, they could be left with little profit after forking over the capital gains tax.
Meanwhile, if your child were to inherit the property after your
passing, they would only need to pay the capital gains tax from the market value at the time of your death instead of when it was initially purchased. The basis
of the asset’s value is stepping up in time to adjust the appreciation value. That’s why it’s called a step-up in basis! The result? Your child will save on expensive taxes and start building wealth with this property’s profit. Instead, try putting your assets in a living trust. So, how can your child take advantage of the step-up in basis? You can put your assets in a living trust and add them as a beneficiary. Instead of being considered an owner, your child will only inherit your estate after your death. While a living trust has plenty of benefits, you should always consult an attorney to understand if this is the right move for you, your specific assets, and your children.
Money Mastery: Mark Cuban’s Essential Guide to Financial Freedom
5. Invest up to 10% of your savings in high-risk investments: Investing up to 10% of your savings in cryptocurrency or other high-risk ventures is okay. Do not expect a return on this investment, though. It’s better to assume it’s already gone than to expect you’ll strike it big. 6. Buy consumables in bulk and on sale: You are going to use products like toothpaste, toilet paper, soap, and others daily. Buy as much as you can whenever these items go on sale so you don’t need to buy them at full price in the future.
Mark Cuban is one of the most well-known American businessmen of the past 20 years. He’s one of the stars of “Shark Tank,” owns the Dallas Mavericks, and has his hands in various other profitable ventures. Cuban is not shy about sharing the secrets to his success. Here you’ll find nine of his most valuable pieces of financial advice. 1. Live like a student: When you were a student, you probably wanted to buy many things but couldn’t afford them. Now that you’re an adult with money to spend, don’t waste it on things you don’t really need.
2. You shouldn’t use credit cards: Credit cards can be dangerous, as the ill use of one can quickly send you into debt.
7. Negotiate using cash: Most people don’t mind selling their products or services for less if they know they’ll get cash immediately.
3. Save six months’ worth of income: How long could you live off your savings if you lost your job today? The future is unpredictable, so it’s essential to create a safety net if the unexpected were to happen. 4. Put savings into an SPX mutual fund: You want to keep your money where it will grow on its own. Investing in the S&P 500 will keep your money safe while bringing in additional interest.
8. Read books: There’s always something new to learn that can help you become more profitable or financially aware. Read books that will inspire you. 9. Being nice earns a good response: People respond better to kindness than anything else. Be friendly to those around you, and you’ll be rewarded.
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SPICED PECAN PIE BARS
At CHB, we know that leads and your brand are everything. In today’s technology-filled world, social media has become essential for businesses to connect with their target audience, build brand awareness, and generate leads. As a broker, leveraging social media can significantly boost your business’s visibility and credibility in the competitive market. Here are four practical ways to use social media to grow your broker business. Pinpoint Your Target Audience Before diving into marketing on social media, you must identify your target audience. Who are your ideal clients? What are their preferences and pain points? Tailor your messaging and content to resonate with this group of potential customers, ensuring you deliver value and address their needs. Choose the Right Platforms Unlock Your Broker Business Potential USE SOCIAL MEDIA TO CONNECT AND GROW
Inspired by SouthernLiving.com
INGREDIENTS Crust • 3 cups all-purpose flour • 1 cup cold unsalted butter, cubed • 3/4 cup powdered sugar • 1 tsp salt
Filling • 4 eggs • 1 cup corn syrup • 2/3 cup packed light brown sugar • 1/2 cup honey
• 1/4 cup all-purpose flour • 1/4 cup melted butter • 1 tsp ground cinnamon • 1/2 tsp salt • 1/2 tsp ground ginger • 3 cups chopped pecans
DIRECTIONS
1. Preheat oven to 350 F. Use baking spray to grease a 13x9-inch pan before lining with parchment paper. 2. In a food processor, blend crust ingredients until a crumble forms. Press mixture into pan. Bake until light golden brown, about 20 minutes (crust will have cracks). 3. In a bowl, whisk all filling ingredients (except pecans) together until smooth. Stir in pecans and pour over crust. Bake until set, around 30 minutes, then let cool completely in pan.
Instead of spreading yourself thin across social media platforms, focus on those most relevant to your target audience and business. Where are these people most active? While Facebook and Instagram are popular, LinkedIn or Twitter may work better for your business! Optimize Your Profiles Ensure your profiles on each platform are professional and consistent with your brand. Use high-quality images and include a compelling and clear biography with contact information. A trustworthy and professional profile will make a great impression on potential clients. Share Valuable Content You want to position yourself as an industry expert by sharing valuable and relevant content. Create blog posts, videos, and infographics that offer insight into the current market, specials, or trends. Engaging and informative content will attract your target audience and encourage them to follow and engage with your posts. Don’t miss out on the great opportunity that social media provides to reach current and potential clients! Leverage social media to benefit your broker business today!
Take a Break
PSA: CHB has improved our data security with Virtru and SharePoint! Upcoming Event: Mark your calendar! The AACFB Commercial Financing Expo 2023 is on Sept. 20-21 in Orlando, Florida!
ASTER BLUEBERRIES CITIZENSHIP GRANDPARENTS
HOMEWORK LABOR LEAVES MOONSTONE
PREPARE SCHOOL
VIRGO WINDY
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PRSRT STD US POSTAGE PAID BOISE, ID PERMIT 411
C.H. Brown Co., LLC A PLATTE VALLEY COMPANY 20 W. Frontage Rd. • Wheatland, WY 82201 307-322-2545 • chbef.com
Inside
1 Labor Day Is More Than a Vacation 2 Step-Up in Basis Will Save You Tax Dollars 2 Master Your Finances With Mark Cuban’s Golden Advice 3 Spiced Pecan Pie Bars 3 Social Media Secrets for Brokers 4 Tips to Stay Positive!
The Power of Positivity
How a Positive Mindset Can Propel Your Success
Building strong relationships with your clients, navigating challenges, and staying organized are keys to coming out on top in a competitive market. Maintaining a positive and resolution- based attitude is important to reach ideal results. A positive mindset helps you to stay motivated and focused and helps to inspire confidence in your clients, and create a trust-based relationship. Here are four tips to cultivate and sustain positivity that reflects in your business. Focus on Solutions In our fast-paced industry, challenges are inevitable. Instead of dwelling on the obstacles, focus on finding and embracing solutions. Approach every problem as an opportunity to learn and grow. Seek innovative ways to address the issues that arise. Set Realistic Goals Establish clear and achievable goals for your business. This helps you to stay motivated and provides a sense of accomplishment when you reach a milestone. Celebrate your successes,
regardless of size, and use them as stepping stones to reach higher goals. A win is a win! Practice Effective Communication To build trust, open and honest communication with your clients is a must! Listen closely to their concerns, and address their questions immediately. Provide them with regular updates on the progress of their approvals and transactions. This transparent approach will build a positive rapport with your clients, keeping them around for years. Embrace Gratitude Expressing gratitude can significantly impact your outlook and the attitude you bring to work every day. Take time to appreciate all your opportunities, successes, and positive experiences. Acknowledge the efforts of others that contribute to your success. Your attitude and mindset sets the stage for your transactions and relationships with your clients. Be mindful of every interaction — stay positive, kind, and humble!
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