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NORTON NEWSLETTER
THE REAL ESTATE TAX PRO ™
NortonAccountingServices.com 985-690-4498 Info@NortonAccountingServices.com JULY 2025
EASE OF MIND • AVAILABILITY • FLEXIBILITY • INDIVIDUAL APPROACH • EXPERIENCE • TAX SAVINGS OPPORTUNITIES
The New Family Office for Business Owners Building Wealth Is a Team Sport
One thing I tell clients all the time is that building wealth isn’t a solo game. Wealth-building is really a team sport. Although many entrepreneurs and business owners try, you can’t do it alone. Eventually, you will hit a wall and run into challenges you can’t solve by yourself. That’s why I believe in having a team around you. Of course, you may already have a team working for you to run a business, but do you have a team working collaboratively to preserve the wealth you’re building? A large percentage of my clients focus on real estate. They’re growing rental portfolios and setting up passive income streams to achieve financial freedom. But our conversations aren’t just about building financial freedom for themselves. They want the wealth they build now to provide a better future for their kids, grandkids, and beyond. Whenever this comes up, an old saying comes to mind: “Shirt sleeves to shirt sleeves in three generations.” This is an American saying, but similar expressions exist in other cultures. And it’s not hard to see why. It describes a common pattern behind loss of wealth: The first generation builds it, the second spends it, and the third loses it. How do you avoid this? A clear
financial plan is a good start but not enough. You also need a coordinated team to guide the plan.
That’s the idea behind the family office, a connected approach to wealth- building and preservation that I’m starting to offer clients. It brings together a team of CPAs, financial advisors, attorneys, and others who meet regularly and share ideas to help clients grow, protect, and pass on wealth. The approach is based on how the ultra-wealthy have managed their finances for decades, but you don’t need a nine-figure balance sheet or a private jet to qualify. I’m building a more accessible, collaborative model — think of it like a virtual private office. I’ve partnered with a group of advisors who communicate, problem-solve, and ensure no part of the plan is overlooked. That means coordinating estate plans, reviewing insurance coverage, identifying investment opportunities, and handling tax work. You may already have people taking care of these things for you, but everyone’s likely working in separate silos without talking to each other. That leaves you in the middle, trying to connect the dots between different opinions that don’t always align. Our approach adds a layer of clarity, communication, and proactive strategy to help you meet your financial goals. It’s for anyone who wants to think bigger and avoid the mistakes that can erode wealth over time. I’ve already started rolling this out for some clients, so let’s talk if you’re curious to learn more about how it works. We can sit down and review where you
are now, where you want to go, and what it will take to get you there. After all, building wealth is one thing, but keeping it for the next generation is another. It takes a plan and a team that’s in it with you.
–Bob Norton
985-690-4498 • 1
SAVORING NATURE SAFELY ON A BIKING ADVENTURE TRAIL- READY
Hobby Hustles for Happy Retirees Just because you’ve clocked out of work for the last time doesn’t mean you have to put your passion projects on hold! Retirement can be a perfect time to cash in on your craftiness or hustle with your hobbies. Whether you’re a master gardener, love to paint, or have an RV you rarely use, your favorite pastimes could pay off as side hustles. So, get ready to turn what you enjoy into a little extra income — and have a whole lot of fun doing it. Start Blogging You can profit from your favorite hobbies without leaving the comfort of your home or favorite chair. Retirees can start blogging about the pastimes they love, whether that’s gardening, crossword puzzles, dog walking, or knitting. A blog can be a handy tool to sell related items, like used puzzles or handmade scarfs, or you can even earn advertising revenue if you build a large enough fan base. Think of this as an online journal where you can share your niche expertise and joy while making extra cash. Sell Your Creations If your hobby produces a product, like paintings, baked goods, or photography, you can sell your creations in various ways. Many retired artists sell their works at local coffee shops, art fairs, or other community Passion Projects That Pay Off
Mountain biking is one of the nation’s fastest-growing sports. Drawn by its physical and mental challenges and access to nature, more than 9.2 million people participated in the sport in 2023, up 4% from 2022. Before setting out, it’s essential to realize that off-road biking can take you far from your comfort zone. Riding on rugged terrain is considered an extreme sport with a high rate of injuries, and participants tend to overestimate their skill level. Keep these tips in mind to ensure your enjoyment as a novice in this exciting sport. Be Weather-Wary Familiarize yourself with seasonal weather patterns in your area. Prepare for the possibility of extreme heat and sudden midsummer storms. Check the forecast before each outing. Heat sickness can catch you off guard, causing nausea, dizziness, confusion, and clammy skin. If these symptoms set in, find shade, drink water, and try to cool down. Know Your Level Be realistic when choosing routes, and check out the mileage, trail conditions, and elevation of any path you choose. Helpful apps include Ride with GPS for route-finding and navigation and Strava for performance-tracking and networking. As you plan, note the trail surface. Riding on gravel or dirt takes far more energy than paved trails. If you want to test your limits, do it on terrain you have traveled before. Gear Up Carry more water than you expect to need, and bring a portable water filter. Poor hydration is one of the main reasons cyclists get in trouble. Also, bring ample high-protein food, a tire patch kit, and first-aid supplies. And don’t neglect the basics: Be sure to wear a properly fitted, sturdy helmet. Don’t Go Alone Let someone know your planned route. Leave a detailed itinerary and planned check-in times with a person you trust. Carry a fully charged phone and charging device, and bring maps as digital downloads or on paper. Also, practice basic navigation skills, such as tracking the sun’s position in the sky and noting landmarks.
spaces. You don’t need much computer savvy to set up a small shop online through sites like Etsy, which caters to handmade and unique items. If you are a
photographer, you can earn income from stock photography sites like Shutterstock, where browsers can use your images for a licensing
fee. Every time someone downloads one of your photos, you get a little richer.
Relax and Rent Out Unused spaces or vehicles can also be
surprisingly profitable. If traveling is your hobby but your RV has been sitting in the driveway for months, you can rent it out to other travelers. People are also lining up to rent unique spaces like swimming pools, homes, and even extra acreage for camping or room for their dogs to stretch their legs. So, that space you’re not using could be your next side hustle in disguise.
By cycling smart, you can reap the maximum benefits of one of the nation’s most exciting sports!
2 • NortonAccountingServices.com
GOATS ON THE JOB IN COLORADO
HOOVED HELPERS WARD OFF WILDFIRES
When a Colorado wildfire threatened one of Lockheed Martin’s plants last summer, the big defense contractor decided they needed better fire protection measures.
Cashmere goats to work clearing 98 acres of wilderness terrain near the company’s worksite, which includes a $350 million satellite- manufacturing facility. The terrain is too steep and hazardous for machine clearing or human crews, but it posed little challenge to the goats. Their mission: to eliminate fuel for future fires and clear paths for firefighters, if needed. The goats could mow down an acre of land dense with plants and underbrush in a day, eliminating invasive vegetation and reducing the terrain to a nearly level, trimmed surface. The goats’ work also prevents overgrowth near powerlines, where fires often start. Lockheed embraced this unusual fire-protection strategy after last year’s 580-acre Quarry Fire came within a mile of the company’s Waterton aerospace facility near Littleton. Five firefighters were injured battling the blaze, which forced the evacuation of 600 homes and put thousands of Colorado residents on edge.
Goat Green has contracted with parks, government agencies, municipalities, farms, ranches, and private land owners across 15 states to provide low-tech clearing services. The company’s workforce consists of 1,500 Cashmere goats native to the Himalayas and comfortable in cold, dry temperatures. Unlike most domestic goats destined for the slaughterhouse early in life, Goat Green’s employees work for about 12 years for as many as 265 days a year. Kids are born on the worksites and learn to eat a wide range of weeds and forage as adolescents. These goats even have a retirement plan: After losing their teeth, they live out their final days in peace on a ranch.
So, the company called in an unlikely emergency workforce — a battalion of 1,200 grazing goats.
Lockheed contracted Goat Green, a local Colorado company, to put its herd of hungry
After a dozen wildfires in the last 10 years in the Littleton area, residents are bracing for another wildfire season. The area is a little bit safer this year, however, thanks to the goats. As one regional fire-protection official said on Facebook, “These goats are a wonderful partner to us.” TAKE A BREAK
Garlic Parmesan Shrimp
Inspired by CooktopCove.com
Ingredients
• 3 tbsp olive oil • 4 cloves garlic, minced • 1/2 cup grated Parmesan cheese • 1 tsp Italian seasoning • 1/2 tsp salt
• 1/2 tsp black pepper • 1 pound large shrimp, peeled and deveined • 2 tbsp chopped fresh parsley • Juice of 1 lemon
Directions
1. Preheat oven to 400 F. 2. In a bowl, combine olive oil, garlic, Parmesan cheese, Italian seasoning, salt, and pepper.
3. Add shrimp to the bowl and toss until fully coated. 4. Arrange the shrimp in a single layer on a baking sheet.
American Bicycle Cherry Fireworks
Flag Independence Paddleboard Picnic
Ruby Stars Sherbet Trampoline
5. Roast in the oven for 7–9 minutes or until the shrimp are pink and slightly golden. 6. Remove from the oven and sprinkle with chopped parsley and fresh lemon juice before serving.
985-690-4498 • 3
Norton Accounting Services, LLC
THE REAL ESTATE TAX PRO ™
PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
NortonAccountingServices.com 985-690-4498 Info@NortonAccountingServices.com
1527 Gause Blvd. Ste. 132 Slidell, LA 70458
INSIDE 1
Collaborating for Generational Wealth
2
Unlock the Earning Potential of Your Favorite Pastimes
Essential Tips for Safe Summer Biking
3
Company Enlists Goats to Reduce Risk of Wildfires
Garlic Parmesan Shrimp
4
Old-School Habits That Will Whittle Your Wallet
Budget Brilliance From a Bygone Era RETRO HABITS MAKE MODERN LIFE (AND PRICES) EASIER
In a world where you can have anything delivered in a day, it’s easy to forget that less can be more. But our grandparents and great-grandparents knew the art of stretching a dollar. These timeless frugal habits aren’t just budget-friendly; they’re resourceful and surprisingly satisfying. Ready to channel your inner penny-pincher? Let’s bring these throwback habits back to life. Mend it, don’t end it. Once upon a time, people didn’t just toss a sock with a hole. Instead, you sewed it right back up! No need to rush to the store — just a few basic mending skills can save you from countless unnecessary purchases. It’s also more empowering to fix something with your own hands than tossing it — not to mention much more eco-friendly. Master the magic of homemade meals. Fast food might be convenient, but cooking from scratch is where the real savings (and flavor)
happen. Think soups from veggie scraps and hearty meals made from simple pantry staples. Not only does it cut costs, but it puts you in control of your ingredients and nutrition — a win-win. Reinvent your leftovers. Gone are the days of letting food wilt in the fridge. Old-school frugal folks gave every last bite a second act. Roast chicken becomes
broth. Rice gets turned into stir-fry. Stale bread transforms into French toast or bread pudding. Get creative! You’ll waste less and eat better. Choose cash over card. There’s something about handing over $20 cash that makes you think twice before spending it. Cash budgeting may feel outdated, but it’s one of the simplest ways to curb impulse buys. Envelopes marked for groceries, gas, or coffee dates give you a clear snapshot of your spending — and what’s left. No more senseless swiping! Save with secondhand savvy. Hand-me-downs were once a household norm! Today, thrift stores and vintage finds are trending again, and for good reason. Whether it’s clothing, furniture, or kitchenware, buying secondhand is kinder to your wallet and the planet.
So, channel some old-school genius and start living a frugal, intentional lifestyle!
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