Take a look at our latest newsletter!
NOVEMBER/DECEMBER 2024
307-322-2545 • CHBEF.COM
FAMILY, HEALTH, AND THE POWER OF PARTNERSHIP The Spirit of the Season
As the holiday season approaches, it’s a reminder of everything we are thankful for. This time of year prompts us to slow down, spend time with the people we love, and take stock of what matters most, like family, health, or a fulfilling work environment. With Thanksgiving approaching and the exciting Christmas season soon to follow, we wanted to share what we are most thankful for this year. At CHB, we feel fortunate to be surrounded by incredible people, and we know that our success comes from hard work, dedication, and a little bit of luck along the way. Our families and our health are at the heart of everything. These important pillars of life shape our priorities and inspire us to work harder, dream bigger, and be better versions of ourselves. Our family members are our support system, people we can turn to through life’s ups and downs and share in our most celebrated accomplishments. We have so many reasons why we are thankful for our loved ones. From cheering us up when we are down to caring for us when we are sick, family always gives us a warm and safe feeling of home, where we are trusted and valued for who we are (quirks and all). In this busy and uncertain world, good health is something we can never take for granted. The foundation allows us to pursue our goals, enjoy all of life’s little moments, and be present. A healthy life gives us more opportunities to spend time with our loved ones, watch our children or grandchildren grow up, and even enjoy the beautiful weather more fully. We are grateful for our health and the well-being of our family, friends, and coworkers.
business are undoubtedly one of the keys to our success. Our coworkers are an extension of our family, bonded by our shared goals and passions. Every day, we get reminders of how lucky we are to work alongside some of the best people in the business. Everyone encourages each other and takes pride in the work we do to make a difference in the lives of our clients and partners. Our broker partners are the backbone of CHB. Their trust and commitment to working with us are things for which we are truly thankful. We would not be where we are today without them. We want to express our deepest gratitude to our brokers and their families. We truly appreciate your partnership and look forward to another wonderful year together. The holiday season is a time of togetherness and gratitude. Whether you are gathered around the Christmas tree, sharing a festive meal, or enjoying each other’s company, the moments you spend with loved ones are the most valuable gift. This time of year encourages us to share ourselves and give to others, but the real spirit of the season lies in being together. As we prepare for these joyous holidays, we extend our warmest wishes to you and your loved ones. We hope your holidays are filled with joy, togetherness, and countless cherished memories, and we look forward to continuing our partnership in the coming year. Happy Holidays from all of us at CHB! –Kit West & Ed Meyer
At CHB, we are so grateful for our team and the culture we have all helped to create here. The wonderful people who put their time and energy into this
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Lock in a Fail-Safe Savings Plan
Open a brokerage account. A regular investment account gives you access to stocks, bonds, and other instruments. Most advisors recommend a low-cost index fund as an initial investment, but if you are uncomfortable with stock market volatility, consider certificates of deposit or bonds. If you hold investments for at least one year, your earnings will be taxed at the long-term capital gains rate — far less than the tax on your ordinary income. Set up a health savings account.
Budgeting and saving are skills many Americans learn late in life, if at all. Only 36 states require high schools to offer personal finance courses. While that’s a marked increase from seven states in 2000, it still leaves many Americans adrift. Many consumers benefit from setting up regular automatic deposits to each of the four key savings and investment accounts, either through paycheck withholding or via their bank. With this system, growing their savings requires no conscious effort. Start an emergency fund. Deposit 2% of your paycheck into an emergency fund, either a high-yield savings account or a money market fund. These
Health savings accounts (HSAs) are a powerful way to set aside income tax-free to pay medical bills. They offer a triple tax advantage in that deposits, earnings, and withdrawals are tax-free if you use withdrawals for eligible medical expenses. You can sign up for these plans through an employer or HealthCare.gov by opting for an HSA-eligible health insurance plan. To determine how much to deposit, search online for “HSA Contribution Calculator.” Unlike other tax-sheltered savings vehicles, HSAs do not have a “use-it-or-lose-it” requirement, so you can accumulate funds for the future.
accounts currently yield about 4% annual interest or more, so your money will be working for you. Work toward setting aside enough to cover at least three months’ expenses to avoid using high-interest credit cards. Automate retirement savings. If possible, put 10%–15% of your paycheck into a retirement account, such as a 401(k), Roth IRA, SEP-IRA, or another investment account. To help you meet this lofty goal, take full advantage of any matching program your employer offers. That’s free money!
How to Get Your Team to Embrace Your Vision FROM GLAZED EYES TO FOCUSED MINDS
Trust goes both ways. If you want your team to trust you and what you say, you need to reciprocate it. This is a slow process and will take time to build. Don’t micromanage your team unless you must. You hired them to do a job and take on specific responsibilities, so let them. If you find this challenging, start small. Delegate smaller tasks to your team until they’ve fully earned your trust. Then, you can pass off more significant responsibilities. Be clear with your expectations. Sometimes, your employees won’t know exactly what they must do to accomplish your goals. When necessary, walk them through specific tasks and explain the result. Once your team understands what they need to do and why it’s crucial to the business’s overall success, they’ll be more likely to get it right and continue to build trust.
Running a successful business can seem impossible if your employees aren’t listening or giving you their full attention. Have you ever talked with a team member, providing vital instructions for a task, only for them to respond with a slow nod and a glazed-over expression? They likely didn’t ask follow-up questions or assert they understood your directions. They simply heard what you said and will take it from there, creating a frustrating disconnect.
So, what’s the secret to getting your team to listen to you intently? Here are three strategies you should implement to improve your team’s response. Get your team to buy into your business and core values. Ask yourself the following questions. Why does your business exist? Why do you need a team? Why are you asking your team to perform a specific task?
These shouldn’t be difficult questions for you to answer, but your employees won’t likely consider them during their daily shifts. You must explore the answers to these questions and then share them with your team. By doing so, you’re giving them a purpose behind any request. When you have the right players, sharing this information helps them get on board and emotionally connect to the business.
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PLAN, PURCHASE, PROSPER EQUIPMENT FINANCING CAN SHAPE YOUR 2025 BUSINESS GOALS
Exquisite Lemon Bars INGREDIENTS
• 2 cups all-purpose flour • 1/2 cup powdered sugar • 1 cup butter, softened • 4 large eggs
• 2 cups granulated sugar • 1/2 cup fresh lemon juice • 2 tbsp grated lemon zest • 1/4 tsp baking powder • 1/4 tsp salt
As the end of the year approaches, farmers and small-business owners are gearing up for a crucial time — end-of-the-year tax planning. This often includes evaluating how equipment financing factors in, providing financial relief, and setting you up for future success. The best strategy for tax planning is treating it like a year-round event. If you’ve made money this year, it’s essential to understand how equipment financing can help you offset taxable income. Equipment Financing Can Save You Money Equipment financing at the end of the year can be an effective strategy to get the items you need while reaping some tax benefits. You can expect a significant tax bill if your business had a strong and profitable year. One method to reduce what you owe in taxes is by purchasing the equipment you need at the end of the year and filing a tax deduction under Section 179 of the IRS tax code. It allows business owners to deduct a significant portion of the equipment cost, which can reduce your tax liability. Additionally, end-of-year financing will enable you to spread the equipment cost over time. Assess Your Goals Looking ahead to 2025, you must assess your business’s status. Ask yourself if you are in a growth phase, trying to maintain your current operations, or downsizing. From there, you can determine your next steps and whether equipment financing is right for your business. Ask for Help
DIRECTIONS
1. Preheat oven to 350 F and grease a 9x13-inch baking pan. 2. In a medium bowl, combine flour and powdered sugar. 3. Cut in butter until the mixture resembles coarse crumbs. 4. Press mixture into prepared pan. Bake for 15 minutes or until lightly browned. 5. In a large bowl, whisk together eggs, sugar, lemon juice, lemon zest, baking powder, and salt. Pour over crust. 6. Bake for 25 minutes or until set. Allow to cool before cutting into bars.
Always be ready to ask for help. Understanding your options and when you might need extra guidance is critical to success. Brokers and financial experts can be an important resource for navigating the sometimes complex world of equipment financing. They can help you make major financial decisions and provide expert advice on funding and other business strategies.
We are finishing up the year strong! We are very grateful for our broker partners.
End-of-year equipment financing is more than just a tax-saving tool — it’s a way to set your business up for success in the new year. Take the time to evaluate your needs, consider where your business is headed, and don’t be afraid to seek professional advice. At CHB, we’ve helped brokers navigate complex financial decisions, guiding everything from equipment financing to business growth strategies and marketing. We’re here to help you finish the year strong!
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307-322-2545
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 Togetherness Is the Best Holiday Gift 2 4 Must-Have Savings Accounts to Secure Your Future 2 The Secret to Employee Engagement 3 Exquisite Lemon Bars 3 Thank You! 3 Why Equipment Financing Now Can Help You Next Year 4 Cozy Up This Season SNUGGLE UP, WYOMING
Best Ways to Stay Warm and Comfy This Winter
Move Your Body Physical activities can help
When Winter settles in Wyoming, it’s the perfect excuse to get cozy and beat the chill. Whether you are curling up next to the fireplace with a good book or visiting a museum, there are plenty of fun ways to soak in some warmth this winter. Grab your favorite blanket because this month, we’re sharing some of our favorite ways to stay toasty all season long. Sit by the Fire When snow falls, nothing is better than sitting outside next to an outdoor fireplace to watch the snowy show. Wear a good jacket and bring some blankets for extra warmth. You can make a hot drink to enjoy, like hot cocoa, and prepare s’mores over the flames. Just remember to always stay safe and fully extinguish the fire
when you are ready to head back inside. Keep blankets and your clothes away from the fire, and wait until the area is completely cool and dry before you cover the firepit. Warm Up in a Local Spot If you’re trying to escape the cold, visit a museum or go shopping at local businesses. The Wyoming Pioneer Memorial Museum is located in Douglas and is dedicated to documenting the past. It’s open year-round and allows you to explore pioneer history safe from the cold. Right here in Wheatland, we have The Wanderer on Gilchrist, a cafe, bookstore, and clothing store all in one. Grab a tasty latte while you browse for your next read and a new sweatshirt.
your body warm up. Though it may sound counterintuitive, participate in some of Wyoming’s most beloved winter activities, like sledding, skiing, or snowmobiling. Not only does this allow you to take in the beauty of the state’s winters, but you will work out just enough that your body warms up without sweating too much, making you colder. Make sure to bundle up and have a plan for a cozy activity afterward, like sitting by the fire in a ski lodge or cuddling up in a coffee shop. No matter how you spend your winter in Wyoming, there are many easy and fun ways to stay cozy throughout the season.
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