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NORTON NEWSLETTER
THE REAL ESTATE TAX PRO ™
NortonAccountingServices.com 985-690-4498 Info@NortonAccountingServices.com OCTOBER 2023
EASE OF MIND • AVAILABILITY • FLEXIBILITY • INDIVIDUAL APPROACH • EXPERIENCE • TAX SAVINGS OPPORTUNITIES
2 Books Every Real Estate Investor Must Read STRATEGIES THAT FUEL SUCCESS
I habitually accumulate books — stacks are all over my house. I usually read multiple real estate or business books at a time and have more unread ones than I’d like to admit. I read so much because I enjoy it and always learn something new. But just as importantly, my clients read real estate books. When they mention one, I want to ensure I understand the concepts they’re referencing. Amid the countless volumes, I’ve picked up a lot of good guidance over the years. But there are two books in particular that I encourage all my clients to read. The first is “Rich
property that creates income is an asset. The book changed a lot of my thinking about building wealth.
I came across John Schaub’s book more recently after I met him at a real estate conference. “Building Wealth One House at a Time” helps us understand how he got where he is today. Over the years, he built a considerable portfolio of hundreds of houses. But he realized he was spending too much time working instead of enjoying life. He wasn’t truly financially free. So, he began selling the houses and kept a handful of well-positioned ones near his home to reduce travel. He urges real estate investors not to overextend themselves. Rather than constantly chasing after the next best thing, Schaub believes you should choose
Dad Poor Dad” by Robert T. Kiyosaki, and the second is “Building Wealth One House at a Time” by John Schaub. “Rich Dad Poor Dad” is more about mindset than real estate, and I read it around 2006 when I began investing in housing. It opened my mind to new possibilities and changed my thinking. When I reread it recently, I was shocked to see how much I’d absorbed and internalized. I came across passage after passage that reflected my strategies and realized, “That’s where I came up with that idea!”
your target market, concentrate on it, and determine how many rental properties you need to live your desired lifestyle. Schaub also notes that quality matters. To him, your asset is not the rental property but the tenant who lives there. Some people try to buy houses at rock-bottom prices to make the most money, but Schaub points out that the quality of the house you buy also dictates the quality of the tenant. Cheap houses mean low-income tenants and a high level of risk. You can get good terms on more expensive property that will generate larger profits. These two books have greatly influenced my thinking, and I regularly discuss many of their concepts with my
Kiyosaki talks about abundance thinking versus scarcity thinking.
Most of us are raised under a mindset of scarcity thinking. For example, you ask your parents for a toy, and they tell you, “We can’t afford that.” But under abundance thinking, the response shifts to “How can we afford that?” The simple shift gets your mind exploring possibilities, even if they take a long time to execute. He also challenges our perceptions of assets and liabilities. To Kiyosaki, an asset is something you own that generates cash flow, while a liability is something you own that costs you money. By that definition, many desirable possessions are liabilities — for example, my swimming pool upkeep is expensive. Contrary to popular belief, your house is also probably a liability due to maintenance, insurance, and taxes. But a rental
clients. If you haven’t picked them up yet, I encourage you to add them to your library. I genuinely believe they’ll change how you approach your investments and wealth for the better.
–Bob Norton
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Here come the scary decorations, pumpkin carving, trick-or-treating, and spooky costumes because Halloween is just around the corner! These traditions are what make Halloween fun and exciting year after year. However, did you know that jack-o’-lanterns come from an Irish legend or that trick-or-treating comes from a historical ritual called “souling”? The Origins and Legends Behind Your Favorite Traditions As we prepare for Oct. 31 activities, here are some fun facts you might not know about Halloween! Halloween is based on a Celtic festival. Samhain, a pagan festival held from Oct. 31 to Nov. 1, celebrated both the harvest and the “dark” second half of the year. During this celebration, it was believed the barrier separating the spirits from the physical world would come down, allowing demons to enter and the spirits of all who passed away that year to move on to the next life. ‘Stingy Jack’ helped evolve jack-o’-lanterns. The Irish myth of a man named “Stingy Jack” goes like this: Stingy Jack invited the devil for a drink, and because he LET’S UNMASK HALLOWEEN:
Skin care is a popular topic — we can always find new trends or tips going viral on social media. However, with rampant misinformation and advertising mixed in, it can be hard to determine which routines are good for your skin and which can be damaging. Let’s look at four toxic skin care trends sure to do more harm than good. Slugging Many social media influencers and even celebrities like Kourtney Kardashian have sworn by coating their faces with Vaseline or another moisturizer to lock in moisture and improve the brightness and complexion of their skin. However, layering a substance on your skin can cause toxins, dirt, debris, and dead skin particles to become trapped, leading to potential irritation, breakouts, and infection — especially for those with oily or acne-prone skin. Physical Exfoliators While natural exfoliation of your facial skin is essential to remove dead skin particles, excess oils, and debris that can clog pores, Navigate Skin Care Trends Safely
didn’t want to pay, he convinced the devil to turn into a coin so he could buy their drinks. However, instead of paying, he placed the “coin” next to a cross in his pocket that prevented
the devil from returning to his original form. Once he freed the devil, Stingy Jack continued to trick him. When he died, God turned away
physical exfoliators such as scrubs containing crushed-up walnuts or apricot pits can be too harsh for your skin, causing micro-tears and leaving your face red and irritated. Instead, try products with milder chemical exfoliants like alpha hydroxy acids (AHAs) or beta hydroxy acids (BHAs).
Stingy Jack with only coal to light his way, so he placed the coal in a carved-out turnip
Pore Strips and Vacuums Clean pores are the name of the game, but using pore strips or vacuums can be extremely damaging. When using a pore strip to remove blackheads, you stretch your pores, making them more susceptible to collecting debris and dirt. The strips can also contain chemicals that can irritate sensitive skin. The pore vacuum can have even worse effects: broken or dilated blood vessels and bruising. Charcoal Peel-Off Masks Charcoal peel-off masks are advertised as a giant pore strip for your whole face to help open up and clean out your pores. While charcoal is a natural compound, it’s still a chemical and can cause some severe and unwanted skin conditions such as excessive peeling, irritation, burning, and, in serious cases, scarring and infection. With so much conflicting information, it’s paramount to safeguard your skin. Always check with a licensed medical professional before jumping on the bandwagon. Take care of your skin — it’s yours for a lifetime!
to create a lantern. From there, people slowly transformed his “lantern” into the modern- day jack-o’-lantern!
Candy corn was once called chicken feed. Candy corn, which the Wunderlee Candy Company began producing in the late 1880s, is an extremely popular Halloween candy. In fact, today, about 35 million pounds of the candy are sold each year! When the Goelitz Candy Company brought it to the masses at the turn of the century, they called the sweet tricolored candy “Chicken Feed” because so many people worked on farms at the time. Their early ads exclaimed, “Something worth crowing for!”
Now you know! Happy Halloween!
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THE INCREDIBLE STORY OF LUCCA, THE EXPLOSIVE- DETECTING DOG WHO SAVED LIVES
Sometimes, dogs are more than just a man’s best friend — they are heroes. When the Israel Defense Forces brought Chris Willingham, a Marine specializing in training military dogs, a small German shepherd and Belgian Malinois mix puppy in 2006, he knew she was special. Willingham named her Lucca, and in 2008, the pair deployed for their first tour in Iraq, where they spent countless hours together searching for improvised explosive devices or IEDs. When Lucca smelled a bomb, she’d lie down and wait for Willingham, an action they repeated so many times that the pair seemed to read each other’s minds. In fact, the duo became so successful that when platoons suspected they were heading into especially dangerous territory, they requested the team by name.
that the Marines were restationing him at the Marine Security Guard School. But before he had to leave, he was allowed to choose a new handler for Lucca. Willingham chose Corporal Juan Rodriguez, whom he sensed was the perfect match for Lucca. And he was right. Lucca and Rodriguez picked up where she and Willingham left off until one day in 2012. The pair were four hours into their patrol in southern Afghanistan when Lucca located her second IED of the day. However, when she moved closer to the device to lie down — it exploded. Rodriguez quickly ran to Lucca, where he discovered she had lost one of her front paws in the explosion. He applied first aid, a tourniquet, and called for a medevac, never leaving her side. She had suffered burns to her neck and torso, and doctors had to amputate her front left leg. However, in less than a month, Lucca was back to running around with the same spirit as before her injury but was now retired from her day job. She was reunited with Willingham and lived the rest of her days with him and his family peacefully until her passing in 2018. Lucca led more than 400 patrols during three combat tours in her career. She found 40 confirmed insurgents and countless explosives, and she never had a single human casualty during her six years of service.
After returning from their second tour in Iraq, Willingham received orders
TAKE A BREAK
One-Bowl Pumpkin Muffins Inspired by NoraCooks.com
Ingredients
• 15 oz can pumpkin purée • 1/3 cup melted butter (or vegetable oil) • 1/2 cup unsweetened plant- based milk • 1 1/4 cups brown sugar
• 1 3/4 cups all-purpose flour • 1 tbsp baking powder • 1/2 tsp salt
• 2 tsp cinnamon • 1/2 tsp nutmeg
• 1/2 tsp ground ginger • 1/4 tsp ground cloves
Directions
1. Preheat oven to 375 F. Prepare muffin pan by greasing and placing paper liners. 2. In a large mixing bowl, add pumpkin, melted butter (or oil), milk, and brown sugar, then whisk until well combined and smooth. With a sifter, sift the flour, baking powder, salt, and spices over the wet mixture. 3. Using a large wooden spoon, mix until just combined (do not over-mix). 4. Fill the muffin cups and bake for 22–25 minutes. Let cool for 30 minutes and enjoy!
Candy Costume Gourds Halloween
Haunted Moon Raven Tricks
Vampire Werewolf Witch Zombie
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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
Essential Real Estate Books You Need on Your Shelf Halloween’s Haunting History Safe or Scary? Decoding Skin Fads Lucca, the Explosive- Sniffing Dog One-Bowl Pumpkin Muffins Tummy Talks: Nourishing a Healthy Gut
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5 Foods for a Healthy Digestive System
Yogurt Yogurt is an amazing source of probiotics, beneficial bacteria that support and balance your gut flora to prevent harmful bacteria from taking over. As a general tip, look for yogurt labeled “live cultures” for a tasty treat full of probiotics! Whole Grains Because whole grains, such as brown rice, quinoa, and whole wheat, are high in fiber, they promote optimal digestion and, in turn, a thriving gut. Fibrous foods also act as prebiotics, which facilitate the growth of beneficial bacteria. Berries Blueberries, blackberries, strawberries, and raspberries are not only high in fiber but also rich in antioxidants that help reduce inflammation all over the body. The fiber-antioxidant combination works wonders for gut health!
Sauerkraut Some people love sauerkraut, and others aren’t very fond of the fermented cabbage dish. However, those who can get past the acquired taste will find that sauerkraut is abundant in probiotics, as the fermentation process encourages the growth of beneficial bacteria to aid digestion. Tempeh Tempeh is a plant-based protein made from an Indonesian fermented soybean product. Because tempeh is fermented, it is a probiotic, but because it is made from soybeans, it is also a prebiotic, making it a powerhouse for creating beneficial gut bacteria. Incorporating these gut-friendly suggestions into your daily diet is a rewarding and delicious way to improve your gut health and, in turn, the health of your entire body. Remember, it all starts in the belly!
Gut health goes beyond your stomach — in fact, it plays a vital role in your overall well-being! Research shows that about 39 trillion bacteria live in your large intestine. Collectively, all of these bacteria make up your gut microbiome, which helps keep you healthy. A balanced gut also promotes proper digestion, nutrient absorption, immune function, and mental health.
For a healthy gut and body, start incorporating these five food types into your daily diet.
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