Instructions: Create a Million-Dollar Business (Examples: AppSumo, Mint, Chihuahuas)

Propsperity,        This forwarded email from The Blog of Author Tim Ferriss provides some instructions and examples of folk who have made very profitable businesses and the process they utilized. Use in your business-life and work towards Improvement ! Seko ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ How to Create a Million-Dollar Business This Weekend (Examples: AppSumo, Mint, Chihuahuas) Posted: 24 Sep 2011 01:20 AM PDT Noah Kagan built two multi-million dollar online businesses before turning 28. He also looks great in orange. (Photo: Laughing Squid) I first met Noah Kagan over rain and strong espressos at Red Rock Coffee in Mountain View, CA. It was 2007. We were both in hoodies, had a shared penchant for the F-bomb and burritos, all of which led to a caffeine-infused mindmeld. It would be the first of many. The matchmaker then introducing us was the prophetic and profane Dave McClure, General Partner of 500 Start-ups, which is now headquartered just down the street from Red Rock. Mr. Noah has quite the start-up resume. He was employee #30 at Facebook, #4 at Mint, had previously worked for Intel (where he frequently took naps under his desk), and had turned down a six-figure offer from Yahoo. Since we first met, Noah's helped create Gambit, an online gaming payment platform and a multi-million dollar business; and AppSumo, loved by entrepreneurs and moms everywhere. He also helped pour fire on both the 4-Hour Workweek and 4-Hour Body launches. The purpose of this post simple: to teach you how to get a $1,000,000 business idea off the ground in one weekend, full of specific tools and tricks that Noah has used himself. He will be your guide… Enter Noah For some reason, people love to make excuses about why they haven't created their dream business or even gotten started. This is the "wantrepreneur" epidemic, where people prevent themselves from ever actually doing the side-project they always talk about over beers. The truth of the matter is that you don't have to spend a lot of time building the foundation for a successful business. In most cases, it shouldn't take you more than a couple days. We made the original product for Gambit in a weekend. "WTF?!" Yes, a weekend. In just 48 hours, some friends and I created a simple product that grew to a $1,000,000+ business within a year. Same deal for AppSumo. We were able to build the core product in one weekend, using an outsourced team in Pakistan, for a grand total of $60. Don't get me wrong–I'm not opposed to you trying to build a world-changing product that requires months of fine-tuning. All I'm going to suggest is that you start with a much simpler essence of your product over the course of a weekend, rather than wasting time building something for weeks… only to discover no one wants it. I know what you're thinking: "Yes, Noah, you are SO amazing (and handsome), but what can I do this weekend to start my own success story?" Here are the steps you can take right now to get started on your million dollar company: Step 1: Find your (profitable) idea. At this stage, you are simply looking for something that people are willing to spend money on. So grab a seat and write down a list of ideas that you think might be profitable. If you're having trouble coming up with ideas, try using the methods below to speed the research process along: Review top sellers on Amazon. Find products that already have guaranteed customers, then build something complementary. A good example of this is Dodo making a gorgeous $60 case to buy for your iPad (which costs over $500, and over 5 million sold). Think of all the things you do on a daily basis. Anything done more than once has potential for a product or service to improve the process. For me, one of those products was a mirror I could hang in the shower. It saves me tons of time while shaving, and now I don't know how I ever lived without it. Be cognizant of products you use and frequently complain about. Before Gambit, we were constantly asking our payment tool partners for certain features, yet our requests were always rejected. That was the impetus for us to create Gambit for our own games. Check completed listings on eBay. This allows you to see how well certain products are selling. It's also an easy way to measure sale prices of items and gauge the overall percentage of the market that's receiving bids (i.e. in demand). Look for frequent requests on Craigslist gigs. These listings are from people actively searching for someone to give their money to in exchange for particular services. Try searching for certain keywords (e.g. marketing, computers, health) and keep track of the total number of results displayed. Evaluate the most popular keywords and see if you can create a product or service around those requests. Browse the Q&A on LinkedIn. On average, LinkedIn users are worth $134, so there is a good chance they'll have money for you if you can provide solutions to their problems. Step 2: Find $1,000,000 worth of customers. Now that you've found an idea, it's time to assess whether there's a big enough pool of prospective buyers. In this step, you'll also want to ensure your market isn't shrinking, and that it fares well compared to similar markets. I use Google Trends, Google Insights, and Facebook ads when I'm in this part of the process. They're great tools that help me evaluate the growth potential of my target market. For example, let's say you decide to build information products for owners of Chihuahuas (remember "Yo quiero Taco Bell"?). Here's how I would check to see if there are enough customers: 1. Search Google Trends for the term "chihuahua" and other similar words (e.g. poodle, dogs) for comparison: (Click image to expand) We can see that the word "chihuahua" has a decent search volume (relative to "dogs"), and that "poodle" isn't as popular. It also looks like the number of searches for "chihuahua" has been relatively stable for the last few years. 2. Double-check on Google insights: Google Insights is great, because it breaks down the search data by location (i.e. what regions the searches are coming from), by date, and what they're searching for (news, images, products). Click here to see the full report for the above chart. 3. Look at the total number of people available on Facebook for dogs: 3.1 million. Not bad, not bad. And for Chihuahuas: 84,260 people. Score. You can also see if there is a large property that you can piggyback on. Paypal did this with eBay, AirBnb is doing it with Craigslist home listings, and AppSumo looks to the 100 million LinkedIn users. If you can find a comparable site with a large number of potential customers, you'll be in good shape. What helped me with finding $1,000,000 worth of customers for AppSumo was studying my successful competitors; specifically, Macheist. Their site did a Mac-only deal that generated more than $800,000. Macheist shares their sales revenue publicly, but you can use your own business acumen on the CrunchBase list to see which business you want to replicate. For instance, you might research Airbnb.com, discover that they have a profitable and growing marketplace, then decide to create a similar service for alternative verticals. I like to create a Google Spreadsheet of the key numbers for my competitors' businesses. Below is an example of what that might look like for Macheist in their Mac bundles. [Warning to the haters: This may not be accurate, but I used these numbers just to get a rough idea of the business' potential.] Step 3: Assess your customer's value. Once you've found your idea and a big pool of potential customers, you'll need to calculate the value of those customers. For our example above, we'll need to estimate how much a Chihuahua owner (i.e. our customer) is worth to us. This will help us determine the likelihood of them actually buying our product, and will also help with pricing. Here's how we do that: 1. Find out how much it costs, on average, to buy a Chihuahua (about $650). This is the base cost. 2. See how much it costs to maintain a Chihuahua each year (i.e. recurring costs). Looks like it's between $500-3,000. For this example, we'll call it $1,000. 3. Look up their life expectancy, which is roughly 15 years. This is the number of times they'll have to pay those recurring costs. Therefore, a Chihuahua's average total cost of ownership is: [$650 + ($1,000*15)] = $15,650 Damn… you could buy a lot of burritos with that kind of cash. Silly dog owners. In any case, these owners are already committing to spend a LOT of money on their dogs (i.e. they are valuable). After putting down $650 on the dog itself and an average of $80/month on maintenance (a.k.a. food), spending $50 on an information product that could help them train their Chihuahua–or save money, or create a better relationship between them, etc.–does not seem unreasonable. Of course, the product doesn't have to cost $50, but we now have some perspective for later deciding on a price. Now we need to utilize the TAM formula (a.k.a. Total Available Market formula), which will help us see our product's potential to generate a million dollars. Here's the TAM formula for estimating your idea's potential: (Number of available customers) x (Value of each customer) = TAM If TAM > $1,000,000, then you can start your business. Let's plug in some basic numbers to see the TAM for our Chihuahua information product: (84,260 available customers) x ($50 information product) = $4,213,000 We have a winner! Okay, obviously you are not going to reach 100% market penetration, but consider the following… 1. This is only through Facebook traffic. 2. This does not include the 5,000,000 monthly searches for "Chihuahua" on Google: 3. This is only for one breed of dog. If you find success with Chihuahuas, you can easily repeat the process many times with other dog breeds. 4. This is only for one product. It's far easier to sell to an existing customer than it is to acquire new ones, so once we've built up a decent customer base, we can make even more products to sell to them. By all measures, it appears that we have a million dollar idea on our hands. Now we can move on to the final step! Step 4: Validate your idea. By now, you have successfully verified that your idea has that special million-dollar-potential. Feels good, right? Well, brace yourself — it's time to test whether people will actually spend money on your product. In other words, is it truly commercially viable? This step is critical. A lot of your ideas will seem great in theory, but you'll never know if they're going to work until you actually test your target market's willingness to pay. For instance, I believed AppSumo's model would work just on gut-feeling alone, but I wasn't 100% convinced people wanted to buy digital goods on a time-limited basis. I mean, how often do people find themselves needing a productivity tool (compared with, for instance, how often they need to eat)? I decided to validate AppSumo's model by finding a guaranteed product I could sell, one with its own traffic source (i.e. customers). Because I'm a frequent Redditor and I knew they had an affordable advertising system (in addition to 3 million+ monthly users), I wanted to find a digital good that I could advertise on their site. I noticed Imgur.com was the most popular tool on Reddit for sharing images, and they offered a paid pro account option ($25/year). It was the perfect fit for my test run. I cold-emailed the founder of Imgur, Alan Schaaf, and said that I wanted to bring him paying customers and would pay Imgur for each one. Alan is a great guy, and the idea of getting paid to receive more customers was not a tough sell :) The stage was set! Before we started the ad campaign, I set a personal validation goal for 100 sales, which would encourage me to keep going or figure out what was wrong with our model. I decided on "100″ after looking at my time value of money. If I could arrange a deal in two hours (find, secure, and launch), I wanted to have a return of at least $300 for those two hours of work. 100 sales ($3 commission per sale) was that amount. By the end of the campaign, we had sold more than 200 Imgur pro accounts. AppSumo.com was born. I share this story because it illustrates an important point: You need to make small calculated bets on your ideas in order to validate them. Validation is absolutely essential for saving time and money, which will ultimately allow you to test as many of your ideas as possible. Here are a couple methods for rapidly validating whether people will buy your product or not: Drive traffic to a basic sales page. This is the method Tim advocates in The 4-Hour Workweek. All you need to do is set up a sales page using Unbounce or WordPress, create a few ads to run on Google and/or Facebook, then evaluate your conversion rate for ad-clicks and collecting email addresses. This is how we launched Mint.com (see one of our original sales pages here). You are not looking for people to buy; you are simply gauging interest and gathering data. [Note: With Facebook advertising, $100 can get you roughly 100,000 people viewing your ad, and about 80 people visiting your site and potentially giving you their email addresses.] Email 10 people you know who would want your pseudo-product, then ask them to send payment via Paypal. This might sound a bit crazy, but you're doing it to see what the overall response is like. If a few of them send payment, great! You now have validation and can build the product (or you can refund your friends and buy them all tacos for playing along). If they don't bite, figure out why they don't want your product. Again, the goal is to get validation for your product, not to rip off your friends. Of course, there are other techniques for validating your product (like Stephen Key leaving his guitar pick designs in a convenience store to see if people would try to buy them). However, I've found these two methods to be super efficient and effective for validating ideas online. No need to get fancy if it does the trick. The Final Frontier: Killing Your Inner Wantrepreneur We made it! You officially have a $1,000,000 idea on your hands and you know for a fact that people are willing to pay for it. Now you can get started on actually building the product, creating your business, and freeing yourself from the rat race! I can just see it… You're all nodding and thinking, "Hey, this Noah guy is pretty snazzy!" (Sorry ladies, I'm taken.) So, what now? - You are inspired. Check. - You want to do something. Check. - You get a link to a funny YouTube video, then you open up Reddit. Check. - Suddenly, everything you thought you were going to do goes down the drain. Check. - You and I softly weep. Check. I want to challenge you! Whoever generates the most profit (not just revenue) within 14 days of this article will win some fantastic goodies. First, here are the basic rules and the process: - Contest void where prohibited. - The business/product must be new. This means either a landing page created from scratch using Unbounce or WordPress above, or via the latest Shopify competition (not too late to sign up). If from Shopify, it will be your *increase* in profit over the next 14 days vs. the prior 14 days, not the *total* profit of 14 days. - Results and proof of some type must be submitted as a comment below no later than 1am PST Saturday on October 8, 2011. Don't cut it too close; if a timezone misjudgment knocks you out, we can't make exceptions. - Put your 14-day profit number (or increase) in the FIRST line of your comment. - Ultimately, verifiable proof with lower number beats unverifiable proof with higher number. The prizes: - $1,000 credit from AppSumo.com - Roundtrip flights to Austin, Texas to have the most delicious tacos in the world with Noah Kagan, CEO of AppSumo. Sorry, but we can only cover flights within the USA. If you want to hoof it to the US, we can then pick up from there. - Above all: your $1,000,000 business, of course! Don't let this post become another feather in your Wantrepreneurship cap. Just follow the steps and start working towards your $1,000,000 business! Remember, you can start laying the foundation for your product without building anything. All you need is one weekend.   From: The Blog of Author Tim Ferriss   http://www.fourhourworkweek.com/blog/2011/09/24/how-to-create-a-million-dollar-business-this-weekend-examples-appsumo-mint-chihuahuas/ Peace & financial prosperity, Seko & Rhonda VArner [Established 09/20/1997 RCC] If you know of anyone looking to Buy, Sell, or Refinance a home. Please call us ! If you know anyone who is having problems with debt, wants to invest for great returns, or needs financial protection, we are they for them ! TEAM VARNER'S Financial FREEdom Seko VArner, World Financial Group 15PNZ http://happilyeverafter.be/financialfreedom.html Your trusted agents, your favorite DJ. rhoseko@yahoo.com    Cell/Office: 757-248-3820 Fax: 866-400-0201

You’re Insane If You Only Invest in the U.S.

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G&G Associates
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You’re Insane If You Only Invest in the U.S.

Karibu (Welcome) G&G Readers,

Too many Americans still believe the U.S. sits at the economic and political center of the world and that the rest of the countries quietly revolve around us.

As such, U.S. investors put the biggest share of their investable cash into domestic markets - what’s known as “home-country bias.”

But that’s a dangerously out-of-date view.

Overdependence on U.S. stocks is a weakness in any portfolio. By investing singularly in U.S. stocks, you are tossing aside the much larger profits you could earn elsewhere.

Worse, you’re missing out on the innovation that is taking place today outside America, in markets like China, Singapore and even parts of Africa.

Moreover, the notion that when America sneezes the rest of the world catches a cold is fading. That was true when our businesses and consumers ruled the globe. But that is now changing. With the rise of middle-class wealth in developing markets around the world, domestic economies are taking root and are supporting local businesses that have nothing to do with what happens in America.

As the U.S. now moves into a much-slower phase of life and (reluctantly) relinquishes the title of growth engine of the world, don’t be surprised to see emerging economies increasingly decouple from the U.S.

For investors, the message is plainly clear.

-------------------------------------------------------------
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- 2 year subscription - $269
- Lifetime subscription - $699

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So, Sign up today!!!
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You must put some wealth to work in markets beyond America’s borders.

The numbers underscore the opportunities you’re missing. Since 2001, American stocks have had seven winning years. The best showing was in 2003 when the S&P 500 gained almost 30%. That’s huge by any yardstick.

Yet, even with that huge win, the S&P was an also-ran to other markets around the world that did far better. In fact, the U.S. stocks never cracked the Top 10 list of the world’s best-performing stock markets - and given our financial situation these days, I don’t expect it will jump to the top of the list any time soon.

If, as Einstein postulated, the definition of insanity is doing the same thing over and over and expecting different results, then America’s laggardly performance should have U.S. investors looking for more-profitable pastures in which to graze. Alas, few are. And that’s a problem.

Your wallet will be far-better off the sooner you get some of your money invested in the growth that’s occurring just about everywhere outside the U.S. (Japan and Western Europe excluded).

You will fare far better over time owning foreign stocks in markets like Australia, Norway and Hong Kong than you will by owning U.S. stocks.

And today, the tools exist that allow you to pursue your own global expansion without leaving America.


The Brokerage Firms You Need to Know

A small clot of U.S.-based brokerage firms nowadays offer American investors the opportunity to trade shares directly on a limited number of foreign stock exchanges - in places like Hong Kong, Germany, Japan, Australia, and the U.K. Some firms even make available smaller, emerging markets like Russia, South Africa and Turkey.

For the most part, you can forget about the big-name Wall Street brokerage firms. Merrill Lynch, Morgan Stanley and the like will not trade in overseas markets for individual investors unless those clients are, generally speaking, putting $50,000 to $100,000 to work.

Instead, consider the firms listed below. These are brokerage houses that not only cater to individual investors, they offer trading directly on foreign stock exchanges:

• EverTrade, the St. Louis brokerage unit of Jacksonville, Fla.-based EverBank. (www.evertrade.com)
• E*Trade, the discount online brokerage firm. (www.etrade.com)
• Fidelity, the online brokerage, mutual funds and retirement-services giant. (www.fidelity.com)
• Interactive Brokers, an online brokerage firm. (www.interactivebrokers.com)
• Charles Schwab, the original discount trading firm. (www.schwab.com)

Each of those firms offers varying degrees of access to overseas markets, and each has its pros and cons.

For investors, though, the fact that a variety of foreign markets are directly available through a State-side brokerage account dramatically changes the game of investing by opening up the world.

Until next time, keep a global view...

If you want to know how to implement a strategy or want to know more about the GGIS portfolio and you are not already a GGIS subscriber, what are you waiting on? See the quote below!

Sign up today!

As always…feel free to pass this information on to anyone you think is interested in increasing their tax & financial IQ.

If you need a one-on-one consultation to learn how to implement these investments or any other on the GGIS portfolio, feel free to contact me to setup an appointment.

If you missed any past G&G newsletters, click on link below for the archive:
http://ezinedirector.com/admin/publisher/archive/public/?fuseaction=a&e=7944575E0843077440

Metta (Wishing You the Best)

Asar Maat Ra Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

Become a Fan of G&G Associates and G&G Travel on Facebook.

“Investing is much like gambling. But, the difference is that with knowledge in investing you can at least increase your odds of winning.”
J. Carter

P.S. If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the “G&G Travel” link and let your travel planning begin. Let us know where you want to go and we’ll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on Facebook.




LEGAL NOTICE: This work is based on what I’ve learned as a financial researcher and analyst based SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. It may contain errors and you should not base investment decisions solely on what you read here. It’s your money and your responsibility. Nothing herein should be considered personalized investment advice.




~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Black Improvement Economics is a service ofThe Imani Foundationhttp://www.imanifoundation.com/ These posts provide information that may aid financial improvement. The information on this site is provided as opinion and should not be construed as professional legal advice, nor professional financial advice, nor professional tax advice. The end reader is advised to seek professional assitance to address one's particular situation. The posts on this site may be third party information and may not be copyrightwritten by the poster of the information.

You’re Insane If You Only Invest in the U.S.

This is
G&G Associates
Tax & Financial Consulting Services
e-Newsletter

You're Insane If You Only Invest in the U.S.

Karibu (Welcome) G&G Readers,

Too many Americans still believe the U.S. sits at the economic and political center of the world and that the rest of the countries quietly revolve around us.

As such, U.S. investors put the biggest share of their investable cash into domestic markets - what's known as "home-country bias."

But that's a dangerously out-of-date view.

Overdependence on U.S. stocks is a weakness in any portfolio. By investing singularly in U.S. stocks, you are tossing aside the much larger profits you could earn elsewhere.

Worse, you're missing out on the innovation that is taking place today outside America, in markets like China, Singapore and even parts of Africa.

Moreover, the notion that when America sneezes the rest of the world catches a cold is fading. That was true when our businesses and consumers ruled the globe. But that is now changing. With the rise of middle-class wealth in developing markets around the world, domestic economies are taking root and are supporting local businesses that have nothing to do with what happens in America.

As the U.S. now moves into a much-slower phase of life and (reluctantly) relinquishes the title of growth engine of the world, don't be surprised to see emerging economies increasingly decouple from the U.S.

For investors, the message is plainly clear.

-------------------------------------------------------------
Internal Sponsorship:

To become a member of the G&G Investment Society newsletter subscription to learn how to take advantage of some of my suggestions so you can protect your wealth and portfolio against a fallen dollar, send an e-mail to GGIS@gngassoc.com and/or visit our website at www.gngassociates.net and click on the "Products & Services" link and we'll get you signed up right away.

DON'T WAIT ANOTHER DAY!

- 1 year subscription - $149
- 2 year subscription - $269
- Lifetime subscription - $699

*** Membership Guarantee *** If you don't make your money back from being a GGIS member by the end of your subscription...we'll refund 100% of your subscription fee back. That's how confident we are that this will be one of the best financial moves of your life.

So, Sign up today!!!
------------------------------------------------

You must put some wealth to work in markets beyond America's borders.

The numbers underscore the opportunities you're missing. Since 2001, American stocks have had seven winning years. The best showing was in 2003 when the S&P 500 gained almost 30%. That's huge by any yardstick.

Yet, even with that huge win, the S&P was an also-ran to other markets around the world that did far better. In fact, the U.S. stocks never cracked the Top 10 list of the world's best-performing stock markets - and given our financial situation these days, I don't expect it will jump to the top of the list any time soon.

If, as Einstein postulated, the definition of insanity is doing the same thing over and over and expecting different results, then America's laggardly performance should have U.S. investors looking for more-profitable pastures in which to graze. Alas, few are. And that's a problem.

Your wallet will be far-better off the sooner you get some of your money invested in the growth that's occurring just about everywhere outside the U.S. (Japan and Western Europe excluded).

You will fare far better over time owning foreign stocks in markets like Australia, Norway and Hong Kong than you will by owning U.S. stocks.

And today, the tools exist that allow you to pursue your own global expansion without leaving America.

The Brokerage Firms You Need to Know

A small clot of U.S.-based brokerage firms nowadays offer American investors the opportunity to trade shares directly on a limited number of foreign stock exchanges - in places like Hong Kong, Germany, Japan, Australia, and the U.K. Some firms even make available smaller, emerging markets like Russia, South Africa and Turkey.

For the most part, you can forget about the big-name Wall Street brokerage firms. Merrill Lynch, Morgan Stanley and the like will not trade in overseas markets for individual investors unless those clients are, generally speaking, putting $50,000 to $100,000 to work.

Instead, consider the firms listed below. These are brokerage houses that not only cater to individual investors, they offer trading directly on foreign stock exchanges:

• EverTrade, the St. Louis brokerage unit of Jacksonville, Fla.-based EverBank. (www.evertrade.com)
• E*Trade, the discount online brokerage firm. (www.etrade.com)
• Fidelity, the online brokerage, mutual funds and retirement-services giant. (www.fidelity.com)
• Interactive Brokers, an online brokerage firm. (www.interactivebrokers.com)
• Charles Schwab, the original discount trading firm. (www.schwab.com)

Each of those firms offers varying degrees of access to overseas markets, and each has its pros and cons.

For investors, though, the fact that a variety of foreign markets are directly available through a State-side brokerage account dramatically changes the game of investing by opening up the world.

Until next time, keep a global view...

If you want to know how to implement a strategy or want to know more about the GGIS portfolio and you are not already a GGIS subscriber, what are you waiting on? See the quote below!

Sign up today!

As always…feel free to pass this information on to anyone you think is interested in increasing their tax & financial IQ.

If you need a one-on-one consultation to learn how to implement these investments or any other on the GGIS portfolio, feel free to contact me to setup an appointment.

If you missed any past G&G newsletters, click on link below for the archive:
http://ezinedirector.com/admin/publisher/archive/public/?fuseaction=a&e=7944575E0843077440

Metta (Wishing You the Best)

Asar Maat Ra Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

Become a Fan of G&G Associates and G&G Travel on Facebook.

"Investing is much like gambling. But, the difference is that with knowledge in investing you can at least increase your odds of winning."
J. Carter

P.S. If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the "G&G Travel" link and let your travel planning begin. Let us know where you want to go and we'll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on Facebook.

LEGAL NOTICE: This work is based on what I've learned as a financial researcher and analyst based SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. It may contain errors and you should not base investment decisions solely on what you read here. It's your money and your responsibility. Nothing herein should be considered personalized investment advice.

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How to Find Deep Trouble with the IRS

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How to Find Deep Trouble with the IRS

Karibu (Welcome) G&G Readers,

I received this question from a G&G subscriber and thought it would be useful to some of you.

Question: I need to file my returns for the past several years. I have misplaced and lost many of the records. Is there a good way to recreate business expenses for prior tax years?

Click on link for G&G Associates commercial:
http://www.gngassoc.com/Ads/GNG_Commercial_110723.mp3

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G & G Associates is a Black-Owned Business focused on easing our client's minds on tax compliance matters. With the ever changing and burdensome tax code, overwhelming and confusing federal and state tax forms and increasing IRS scrutiny over most tax items, taxpayers need to have at least this one part of their lives made easier, less stressful and more profitable.

Our expert help includes our:

In-Depth Interview — a thorough and complete experience designed to unearth every tax savings opportunity during the course of your tax preparation. We use these to the latest IRS guidelines to guide you through a painless, interactive session so that together, we catch every single detail that results in more tax savings for you.

We can service clients anywhere in the world and we look forward to assisting you in getting your tax return prepared for the 2010 and upcoming 2011 tax season. (Referrals available upon request)

If you are a returning client you'll get a 25% discount off your tax preparation fees. If you are a new client you'll get $40 off our normal fees. If you are active duty military you'll get a 15% discount. If you are a senior citizen (above 65) you'll get a 50% discount.

At G&G Associates, we GUARANTEE to beat "ANY" other tax professional's fees. We take pride in not nickeling and diming our customers with unnecessary charges & fees.

Do you have a friend, co-worker or family member who might be interested in G&G Associates Tax Preparation Services? If so, then you can earn $40 for everyone you refer that files their tax returns with us. Just refer that person, and when we complete their tax return we will send you a check for $40. To make the deal even sweeter, after (4) four referrals you will get your taxes done for free.

For INSTRUCTIONS on how to get your taxes prepared visit our website, click on the "TAXES" tab and then download the "Tax Preparation Worksheet," or the left side of the page or click on the following link:

http://www.gngassoc.com/pdf/Tax_Prep_Worksheet.pdf

----------------------------------------------------------------------------

Answer: No. You are in deep trouble.

First, the law requires documentation on a timely basis for a certain group of expenses.

This group includes
• vehicles,
• entertainment, and
• travel.

If you have to recreate the records for this group, you will obviously violate the timely rule—putting these deductions in extreme jeopardy. ("Timely" here means within a week of the expenditure, a rule that you will obviously break by recreating your records years later.)

Technically, the law contains an escape from the timely records requirement for taxpayers who can put together convincing corroborative evidence. But don't bet on corroborative evidence as a solution for your problem. I can't find any case law in which the courts granted a favorable result with the alternative corroborating evidence method for vehicles, entertainment, or travel.

Actually, all your deductions appear to be in trouble, even those for which the court could make estimates of your expenses under the Cohan rule. Why? You don't appear to qualify to recreate your tax records. Tax law grants the right to redo your records only if you have suffered some catastrophe, and your careless loss of the records does not qualify as a catastrophe. You did not mention a fire, flood, or theft as the reason your records are no longer around.

You might be thinking that your trouble can hardly get worse, but it can. Your chances of an IRS audit jumped dramatically when you failed to file your returns on time. If I were advising you one on one, I would say that you can pretty much expect an audit.

You might consider an "offer in compromise." This is something to discuss with your tax advisor, and it may have merit in your case. You will have to file all the missing returns and live up to some promises about your taxes, plus the IRS will review your offer, although the review may be far less extensive than an audit.

Planning tip. Always, without fail, file your tax return on time (or within the period for properly filed extensions). The non-filing of a tax return is a complete disaster, triggering nothing but trouble and big penalties.

Visit our website: www.gngassociates.net, click on the "Taxes" tabs to download our free weekly and monthly expense organizers to help provide an electronic backup of your business activities and expenses.

Or, just visit our website for more information or contact us today to set your appointment if you need a "TAX" OR "FINANCIAL" one-on-one consultation.

If you missed any past G&G newsletters, click on link below for the archive:
http://ezinedirector.com/admin/publisher/archive/public/?fuseaction=a&e=7944575E0843077440

Metta (Wishing You the Best),

Asar Maat Ra Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

G&G Associates & G&G Travel are on Facebook, join our fan page.

"Investing is much like gambling. But, the difference is that with knowledge in investing you can at least increase your odds of winning."
J. Carter

**You must be a G&G Associates tax client to receive the $40 referral fee
*** [Price Guarantee does not apply to individuals, corporations or partnerships filing refunds pertaining to Revenue Ruling 2009-20/2009-09, 'Ponzi Schemes' or VA Amendment CFR 26 § 1.122-1]

P.S. If you're not a GGIS Paid Subscriber reader yet, why not? Currently, our GGIS portfolio is packed with great plays to kick-start your portfolio for 2011.

P.S #2 If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the "G&G Travel" link and let your travel planning begin. Let us know where you want to go and we'll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on facebook.

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Air Cars Anyone?

This is
G&G Associates
Tax & Financial Consulting Services
e-Newsletter

Karibu G&G Readers,

I thought this would be something interesting to see. Now, lets see how the lobbyist and government block this technology in the US because if this reaches the west and europe, it would surely put a dent in the oil cartels pockets.

----------

The BBC reported on the French version of this technology.

This report from Australia goes into more depth and also covers an Australian version.

How many billions of dollars in research and development funds would the big auto makers claim they need to get this far?

Video:
http://www.brasschecktv.com/page/3414.html

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This is
G&G Associates
Tax & Financial Consulting Services
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Solid Proof the Gold Market is Alive and Well

Karibu (Welcome) G&G Readers,

From 1998 to 2000, shares of a company named Inktomi Corp went up 1,900%. Then in 2000, this stock hit its all-time high of $231.62. It had to be a great business, right? Wrong. Actually, the company never made a single dime in profits.

But regardless, investors kept buying. That shows you how irrational investors can get.
By 2002 that same stock was trading at a quarter. And that's just one of many examples of tech companies that crashed after the tech bubble popped.

Just a few years later, investors had to deal with another bubble. House prices are still falling to this date. We're still dealing with the fallout from that financial mess.
Now investors are obsessed with bubbles.

Click on link for full article:
http://www.gngassoc.com/pdf/GG_110901.pdf

Click on link for G&G Associates commercial:
http://www.gngassoc.com/Ads/GNG_Commercial_110723.mp3

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------------------------------------------------

As always…feel free to pass this information on to anyone you think is interested in increasing their tax & financial IQ.

If you need a one-on-one consultation to learn how to implement these investments or any other on the GGIS portfolio, feel free to contact me to setup an appointment.

If you missed any past G&G newsletters, click on link below for the archive:
http://ezinedirector.com/admin/publisher/archive/public/?fuseaction=a&e=7944575E0843077440

Metta (Wishing You the Best)

Asar Gary Gray

Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

Become a Fan of G&G Associates and G&G Travel on Facebook.

"Investing is much like gambling. But, the difference is that with knowledge in investing you can at least increase your odds of winning."
J. Carter

P.S. If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the "G&G Travel" link and let your travel planning begin. Let us know where you want to go and we'll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on Facebook.

LEGAL NOTICE: This work is based on what I've learned as a financial researcher and analyst based SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. It may contain errors and you should not base investment decisions solely on what you read here. It's your money and your responsibility. Nothing herein should be considered personalized investment advice.

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Is the Gold Bubble Ready to Pop?

This is
G&G Associates
Tax & Financial Consulting Services
e-Newsletter

Solid Proof the Gold Market is Alive and Well

Karibu (Welcome) G&G Readers,

From 1998 to 2000, shares of a company named Inktomi Corp went up 1,900%. Then in 2000, this stock hit its all-time high of $231.62. It had to be a great business, right? Wrong. Actually, the company never made a single dime in profits.

But regardless, investors kept buying. That shows you how irrational investors can get.
By 2002 that same stock was trading at a quarter. And that's just one of many examples of tech companies that crashed after the tech bubble popped.

Just a few years later, investors had to deal with another bubble. House prices are still falling to this date. We're still dealing with the fallout from that financial mess.
Now investors are obsessed with bubbles.

Click on link for full article:
http://www.gngassoc.com/pdf/GG_110901.pdf

Click on link for G&G Associates commercial:
http://www.gngassoc.com/Ads/GNG_Commercial_110723.mp3

-------------------------------------------------------------
Internal Sponsorship:

To become a member of the G&G Investment Society newsletter subscription to learn how to take advantage of some of my suggestions so you can protect your wealth and portfolio against a fallen dollar, send an e-mail to GGIS@gngassoc.com and/or visit our website at www.gngassociates.net and click on the "Products & Services" link and we'll get you signed up right away.

DON'T WAIT ANOTHER DAY!

- 1 year subscription - $149
- 2 year subscription - $269
- Lifetime subscription - $699

*** Membership Guarantee *** If you don't make your money back from being a GGIS member by the end of your subscription...we'll refund 100% of your subscription fee back. That's how confident we are that this will be one of the best financial moves of your life.

So, Sign up today!!!

------------------------------------------------

As always…feel free to pass this information on to anyone you think is interested in increasing their tax & financial IQ.

If you need a one-on-one consultation to learn how to implement these investments or any other on the GGIS portfolio, feel free to contact me to setup an appointment.

If you missed any past G&G newsletters, click on link below for the archive:
http://ezinedirector.com/admin/publisher/archive/public/?fuseaction=a&e=7944575E0843077440

Metta (Wishing You the Best)

Asar Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

Become a Fan of G&G Associates and G&G Travel on Facebook.

"Investing is much like gambling. But, the difference is that with knowledge in investing you can at least increase your odds of winning."
J. Carter

P.S. If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the "G&G Travel" link and let your travel planning begin. Let us know where you want to go and we'll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on Facebook.

LEGAL NOTICE: This work is based on what I've learned as a financial researcher and analyst based SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. It may contain errors and you should not base investment decisions solely on what you read here. It's your money and your responsibility. Nothing herein should be considered personalized investment advice.

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Mortgage Fraud: You Might Have a Case!

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G&G Associates
Tax & Financial Consulting Services
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31% Jump in Mortgage Fraud Affirms Importance of Notary Journal Records

August 9, 2011 Reports of suspected mortgage fraud jumped 31 percent in the first quarter of 2011 compared to the same period last year, and many of the new cases were discovered amid increased scrutiny of loans originated during the final years of the real estate boom.

According to a mortgage fraud report released by the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN), 79 percent of the reports of fraud received in the first three months of 2011 involved loans originated three or more years ago.

Authorities investigating these hundreds of cases are reviewing Notary journal records as part of their inquiries. Considering that many fraud schemes go undetected for years, maintaining clear, complete, and chronological journal records of notarizations creates valuable evidence for authorities, and they are the best form of protection a Notary has against future liability.

In the past year, reports from other government agencies and industry research groups have noted a significant rise in identity fraud used to carry out mortgage scams. Among the trends the FinCEN report identified is a growing incidence of false claims of identity theft. The Notary's journal entry can provide valuable evidence to nullify such claims.

Read more: http://www.nationalnotary.org/bulletin/Bulletin_Articles/jump_in_mortgage_fraud_affirms_importance_of_notary_journal_records.html

Until the next time!

Ankh Uja Snb (Life, Health & Strength)

Asar Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

Become a Fan G&G Associates and G&G Travel on Facebook.

"Investing is much like gambling. But, the difference is that with knowledge in investing you can at least increase your odds of winning."
J. Carter

P.S. If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the "G&G Travel" link and let your travel planning begin. Let us know where you want to go and we'll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on Facebook.

LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered personalized investment advice. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.

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Suckers Got sucked with Gold & Now Why I’m Buying Silver

This is
G&G Associates
Tax & Financial Consulting Services
e-Newsletter

Suckers Got sucked with Gold & Now Why I'm Buying Silver

Karibu (Welcome) G&G Readers,

I didn't think Gold's retracement would happen this fast, but yesterday it did. I'm not going to tell you I told you so … ok … I am, but you can't say I didn't warn you that it was coming and to beware and hold off buying gold if you were itching to do so.

With the rumor of Quantitative Easing (QE) looming around the markets, as expected, a corrective sell-off in gold was due to occur, but what I didn't expect is for the Midas Metal to drop so fast and as hard as it did.

What we need to ask ourselves now is this: was yesterday's bloodbath a buying opportunity or the pin that burst the gold bubble?

Click here to read the full article:
http://www.gngassoc.com/pdf/110825.pdf

Until the next time!

Ankh Uja Snb (Life, Health & Strength)

Asar Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

Become a Fan G&G Associates and G&G Travel on Facebook.

"Investing is much like gambling. But, the difference is that with knowledge in investing you can at least increase your odds of winning."
J. Carter

P.S. If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the "G&G Travel" link and let your travel planning begin. Let us know where you want to go and we'll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on Facebook.

LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered personalized investment advice. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.

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How to keep your 1099 from starting an IRS audit

This is
G&G Associates Tax & Financial Consulting
e-Newsletter
Tax Tip of the Week

How to keep your 1099 from starting an IRS audit

Imhotep (Wisdom to You) G&G Readers,

What Is 1099 Income and Why Does the Definition Cause an Incorrect 1099 and a Possible IRS Audit?

An incorrect 1099 that overstates your income is a problem that can lead to a tax audit. One big cause of an incorrect 1099 is the definition of what is 1099 income.

In many instances, the common fix to the incorrect 1099 is technically incorrect and that can cause distortions that lead to an IRS audit.

In this article, you will learn how the technically correct method does the following:

1. reduces your chances of an IRS audit,

2. grants the recipient their correct 1099 income, and

3. allows the payor the correct deduction.

Tax Question: I am a self-employed engineer. Last year I received three payments of $49,000 and one 1099-MISC for three jobs that I completed and billed to one customer. The customer paid the last invoice at the very end of December and I did not receive the check until 2011.

I know that technically I can claim $98,000 as income; after all, that's what I received as 1099 income in calendar year 2010. However, I think the IRS will not like the incorrect 1099-MISC for $147,000 when I report gross income of only $98,000 on Schedule C of my Form 1040.

Thus, my question: How do I report $98,000 as income and avoid an IRS audit?

-------------------------------------------------
Internal Sponsorship:

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G & G Associates is a Black-Owned Business focused on easing our client's minds on tax compliance matters. With the ever changing and burdensome tax code, overwhelming and confusing federal and state tax forms and increasing IRS scrutiny over most tax items, taxpayers need to have at least this one part of their lives made easier, less stressful and more profitable.

Our expert help includes our:

In-Depth Interview — a thorough and complete experience designed to unearth every tax savings opportunity during the course of your tax preparation. We use these to the latest IRS guidelines to guide you through a painless, interactive session so that together, we catch every single detail that results in more tax savings for you.

We can service clients anywhere in the world and we look forward to assisting you in getting your tax return prepared for the 2010 and beyond tax season. (Referrals available upon request)

If you are a returning client you'll get a 25% discount off your tax preparation fees. If you are a new client you'll get $40 off our normal fees. If you are active duty military you'll get a 15% discount. If you are a senior citizen (above 65) you'll get a 50% discount.

At G&G Associates, we GUARANTEE to beat "ANY" other tax professional's fees. We take pride in not nickeling and diming our customers with unnecessary charges & fees.

Do you have a friend, co-worker or family member who might be interested in G&G Associates Tax Preparation Services? If so, then you can earn $40 for everyone you refer that files their tax returns with us. Just refer that person, and when we complete their tax return we will send you a check for $40. To make the deal even sweeter, after (4) four referrals you will get your taxes done for free.

For INSTRUCTIONS on how to get your taxes prepared visit our website, click on the "TAXES" tab and then download the "Tax Preparation Worksheet," or the left side of the page or click on the following link:

http://www.gngassoc.com/pdf/Tax_Prep_Worksheet.pdf

----------------------------------------------------------------------------

ANSWER:

I'm going to give you the technically correct answer because that answer is technically correct and it will reduce your chances of an IRS audit.

THE AUDIT …

You might ask: How will the technically correct answer reduce my chances of an IRS audit? Answer:

1. You will report $98,000 rather than $147,000 on your Schedule C. The IRS selects more $147,000 Schedule C tax returns for audit than $98,000 Schedule C's.*

2. You will have a corrected 1099 that matches your $98,000 reported income. Because you have a corrected 1099, you don't have that $49,000 sore getting attention from the IRS computers.

OVERVIEW OF TECHNICALLY CORRECT REPORTING

Here is an overview of how the rules on a 1099 work. Following this overview, I will dive deeper into the rules and give you insight into how to go about this.

1. The Form 1099 that you received is technically incorrect because the payor is supposed to report on the 1099 payments that you received during the year. Note that this is not the amount paid to you during the year, but rather the amount received by you during the year.

2. You should contact the payor to get a corrected 1099-MISC. You likely will want to send the payor the IRS regulation that explains why your 1099 is incorrect.

3. If you cannot get the 1099-MISC corrected in time for filing your tax return, do this: Report the correct amount ($98,000) on Line 1 of Schedule C and attach an explanation.

4. Keep the envelope in which the final payment arrived as proof that the money arrived after December 31st.

Why the Payor Gave You an Incorrect 1099-MISC

IRS Reg. Section 1.6041-1(f) says:**

The amount to be reported as paid to a payee is the amount includible in the gross income of the payee …

Note … As you will see below, this amount does not necessarily equal the tax deduction claimed by the payor.

IRS Reg. Section 1.6041-1(h) says:***

For purposes of a return of information, an amount is deemed to have been paid when it is credited or set apart to a person without any substantial limitation or restriction as to the time or manner of payment or condition upon which payment is to be made, and is made available to him so that it may be drawn at any time, and its receipt brought within his own control and disposition.

Note that the regulation above is for a "return of information," one such return of information is the 1099-MISC.

IRS CASE LAW

In Cheryl Mayfield Therapy Center, the court stated:^
A "payment" is made for purposes of section 6041 information returns when an amount is made available to a person "so that it may be drawn at any time, and its receipt brought within his own control and disposition."

As I was doing the research for this article, I was a little surprised that the 1099 could contain a taxable amount to the payee that is different from the deduction amount of the payor.

For example, in your case, the correct 1099-MISC amount is $98,000. That's the amount the payor should put on your 1099-MISC even though the payor is going to deduct $147,000.

Let's say you did no work for this payor in the year following the year when your 1099-MISC reported $98,000. In this next year, the payor will send you a 1099-MISC for $49,000, but the payor will deduct nothing for the next year's 1099-MISC.

IF THE 1099-MISC Is NOT CORRECTED

Depending on what the incorrect 1099-MISC is doing to your income, you have one of two ways to show or not show the correction.

If the income on your tax return will be less than the total of your 1099-MISCs, you can bet that the IRS computers will pick that up. Therefore, follow the instructions below, which appear on the back of the 1099-MISC:^^

Form 1099-MISC incorrect:

If this form is incorrect or has been issued in error, contact the payor. If you cannot get this form corrected, attach an explanation to your tax return and report your income correctly.

Some practitioners like to report the incorrect 1099 amount in the income line so that it matches with IRS records. Then, they enter an offsetting expense to make the income right. Finally, they add a statement to the return explaining the fake expense number and why it is there.

If the income on the tax return is greater than the total of the 1099-MISCs, follow the instructions for Line 1 of Schedule C, which state:^^^

Enter gross receipts from your trade or business. Include amounts you received in your trade or business that were properly shown on Forms 1099-MISC. If the total amounts that were reported in box 7 of Forms 1099-MISC are more than the total you are reporting on line 1, attach a statement explaining the difference.

Important. These instructions say to attach a statement when the forms 1099-MISC are more than the total income you are reporting. When the forms 1099-MISC are less than the reported income, no explanations are necessary because your total income is correct.

Here's a final thought: You probably should retain proof that you tried to get the 1099-MISC corrected. Adequate proof might include a fax copy and a fax receipt showing delivery of the request, a copy of a letter you sent by certified mail along with the certified mail receipts, or an email with acknowledgement of delivery.

References:
* Interestingly, IRS audits of Schedule C taxpayers with total gross receipts over $200,000 are less than audits of Schedule C taxpayers with total gross receipts of $100,000 and under $200,000.
** Reg. Section 1.6041-1(f)
*** Reg. Section 1.6041-1(h)
^ Cheryl Mayfield Therapy Center v Commr., TC Memo 2010-239
^^ IRS Form 1099-MISC (2011); see www.irs.gov
^^^ 2010 Instructions for Schedule C

Visit our website for more information or contact us today to set your appointment if you need a "TAX" OR "FINANCIAL" one-on-one consultation.

Until the next time!

Ankh Uja Snb (Life, Strength, & Health),

Asar Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net
G&G Associates & G&G Travel are on Facebook, join our fan page.

**You must be a G&G Associates tax client to receive the $40 referral fee

*** [Price Guarantee does not apply to individuals, corporations or partnerships filing refunds pertaining to Revenue Ruling 2009-20/2009-09, 'Ponzi Schemes' or VA Amendment CFR 26 § 1.122-1]

P.S. If you're not a GGIS Paid Subscriber reader yet, why not? Currently, our GGIS portfolio is packed with great plays to kick-start your portfolio for 2011.

P.S #2 If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the "G&G Travel" link and let your travel planning begin. Let us know where you want to go and we'll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on facebook.

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A Correction in Gold Starts Now

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G&G Associates
Tax & Financial Consulting Services
e-Newsletter

A Correction in Gold Starts Now

Karibu (Welcome) G&G Readers,

How could gold fall now? After all, everything possible is going right for gold.

First and foremost, gold is financial catastrophe insurance… And the threat of financial catastrophe is the highest it's been in years.

Second, when interest rates are zero, gold soars. And right now, interest rates are zero. You see, when interest rates at the bank are 5%, and gold is paying zero (as always), investors choose to put their money in the bank. But when the bank pays zero, and gold pays zero, investors hold their money in gold – an asset that can't be printed.

This is exactly what has happened since the Federal Reserve cut interest rates to zero in 2008.

And the story just got even better for gold!

-------------------------------------------------------------
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------------------------------------------------

This week, the Federal Reserve announced interest rates will stay near zero for the next two years! Read this again …. the Federal Reserve announced interest rates will stay near zero for the next two years!

What does this mean? It means … gold just got a "green light" from interest rates for two years… and the threat of financial catastrophe is high. It's time for gold to soar! Right?

*** CAUTION, CAUTION … needed here***

Everyone reached that exact conclusion earlier this week. It's what caused gold to jump from $1,600 to $1,800 just in the month of August (which hasn't had that many trading days).

For the moment, the trade is "full." Everyone trading gold realizes the two things above. And the latecomers who wanted to own it have now finally bought. Unfortunately for them, they're going to get hurt…

This gold market feels a bit like the market in silver in mid-April 2011. On April 15, I told my True Wealth subscribers:

The price of silver has gone crazy. And individual investors have gone crazy over silver. Silver has soared too high, too fast. My experience tells me silver should see a quick and violent correction to shake out all these newer silver traders.

Silver peaked later in April close to $50 an ounce… Then, it crashed violently to $35 an ounce.

The latest sentiment numbers on gold are not out yet. But I bet they're at the highest levels in years. I expect gold will have a healthy shakeout, to kick out the Johnny-come-latelies.

Based on history, gold could fall and then struggle to gain a head of steam over the next two to three months.

Then I believe it will resume its bull market. With ever-growing U.S. debts and interest rates at zero, gold can't do much else but go up in the long run.

In short, I expect a multi-month correction in gold… followed by a resumption of its long-term bull market.

If you want to know how to implement a strategy or want to know more about the GGIS portfolio and you are not already a GGIS subscriber, what are you waiting on? See the quote below!

Sign up today!

As always…feel free to pass this information on to anyone you think is interested in increasing their tax & financial IQ.

If you need a one-on-one consultation to learn how to implement these investments or any other on the GGIS portfolio, feel free to contact me to setup an appointment.

If you missed any past G&G newsletters, click on link below for the archive:
http://ezinedirector.com/admin/publisher/archive/public/?fuseaction=a&e=7944575E0843077440

Metta (Wishing You the Best)

Asar Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

Become a Fan of G&G Associates and G&G Travel on Facebook.

"Investing is much like gambling. But, the difference is that with knowledge in investing you can at least increase your odds of winning."
J. Carter

P.S. If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the "G&G Travel" link and let your travel planning begin. Let us know where you want to go and we'll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on Facebook.

LEGAL NOTICE: This work is based on what I've learned as a financial researcher and analyst based SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. It may contain errors and you should not base investment decisions solely on what you read here. It's your money and your responsibility. Nothing herein should be considered personalized investment advice.

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Global policymakers discuss debt crisis, market turmoil

This is
G&G Associates
Tax & Financial Consulting Services
e-Newsletter

Global policymakers discuss debt crisis, market turmoil

Karibu (Welcome) G&G Readers,

Breaking News … S&P Downgrades US if you haven't heard already. But, it's not if I didn't warn you. Check out the following links to see what's really happening behind the scenes and also check out the one from Tim Geithner, Treasury Secretary, as he lies right to you with out even a blink.

Again … please do not put your financial trust in the crooks who are fighting like children in DC right now. They could care less about you.

Debt Crisis Weekend Emergency meeting:
http://mobile.reuters.com/article/idUSTRE7712HB20110807?irpc=932

Japan's Intervention … but more to come:
http://www.bloomberg.com/news/2011-08-05/japan-weakening-yen-may-have-cost-record-amount-as-more-intervention-looms.html

Geithner Saying there is "No Risk" of a Downgrade (video):
http://capitalogix.typepad.com/public/2011/08/did-tim-geithner-really-say-there-was-no-risk-of-a-downgrade-lets-goto-the-video.html

-------------------------------------------------------------
Internal Sponsorship:

To become a member of the G&G Investment Society newsletter subscription to learn how to take advantage of some of my suggestions so you can protect your wealth and portfolio against a fallen dollar, send an e-mail to GGIS@gngassoc.com and/or visit our website at www.gngassociates.net and click on the "Products & Services" link and we'll get you signed up right away.

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Bottom line: another intervention is coming soon. When it comes, you can make a killing simply by following the Bank of Japan's lead and shorting the yen.

Recommendation: Become a GGIS Subscriber and I'll show you what trades to take to take advantage of this move.

As always, if you want to educate yourself on some of the terms I'm using in my e-newsletters, check out this site: http://www.investopedia.com/ . Also, a good place to learn more about reading and looking up charts is www.stockcharts.com.

Remember, "The more you learn the more you earn, the less you know the more you owe."
If you need a one-on-one consultation to learn how to implement these investments or any other on the GGIS portfolio, feel free to contact me to setup an appointment.

Until the next time!

Ankh Uja Snb (Life, Health & Strength)

Asar Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

Become a Fan G&G Associates and G&G Travel on Facebook.

"Investing is much like gambling. But, the difference is that with knowledge in investing you can at least increase your odds of winning."
J. Carter

P.S. If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the "G&G Travel" link and let your travel planning begin. Let us know where you want to go and we'll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on Facebook.

LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered personalized investment advice. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.

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Japan Intervenes in the Yen Once Again

This is
G&G Associates
Tax & Financial Consulting Services
e-Newsletter

Japan Intervenes in the Yen Once Again

Karibu (Welcome) G&G Readers,

Breaking News … I've been writing this report for about a week, but I'm on vacation in Mexico and I'm working on Mexican time. As you'll read, I had this all to go out to get you prepared, but it happened before I could get it out to my readers. No problem though, there is still much more room to go to take advantage of the profits you could gain from jumping into those trades that could benefit from this market trend.

Last night … Japan injected over 10 trillion yen ($126 billion) into the markets and was able to halt the rise of the Japanese yen. The Bank of Japan followed up the intervention with monetary stimulus that totaled double the amount pledged after the March 11 earthquake.

The intervention had the desired impact, as the yen weakened to 80 for the first time since mid July. This 4 percent move vs. the US$ was the largest one day drop since 2008. There is deepening concern out of Japan that the Federal Reserve will be forced into another round of QE, which would put additional pressure on the US$ and cause investors to continue to buy yen. The Japanese were looking to try and move the yen weaker prior to the Fed's meeting next week.

So … continue to read the report I had set to come out to learn how I came up with this move. It's not rocket science folks, it's just knowing history and how markets react to different cues.

Everyone wants to stay competitive

Target wants to keep their prices somewhat in line with Wal-Mart. Burger King wants to keep their pricing somewhat in line with McDonalds. Otherwise, they lose customers to their competitors.

The same thing happens in the currency world.

Click here for the full article:
http://www.gngassoc.com/pdf/Yen_110804.pdf

Until the next time!

Ankh Uja Snb (Life, Health & Strength)

Asar Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

Become a Fan G&G Associates and G&G Travel on Facebook.

"Investing is much like gambling. But, the difference is that with knowledge in investing you can at least increase your odds of winning."
J. Carter

P.S. If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the "G&G Travel" link and let your travel planning begin. Let us know where you want to go and we'll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on Facebook.

LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered personalized investment advice. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.

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Fed Reserve Secretly Gives 16 Trillion in Bailouts

This is
G&G Associates
Tax & Financial Consulting Services
e-Newsletter

Fed Reserve Secretly Gives 16 Trillion in Bailouts
AUDIT OF THE FEDERAL RESERVE REVEALS $16 TRILLION IN SECRET

Karibu (Welcome) G&G Readers,

I thought this was fitting to release especially since the folks in DC have finally decided to stop playing games and decide to not let the US go in to Default in the minds of the uneducated. But, if you could do any reasonable amount of math you'd know and see by the numbers below that we already have.

I've said it time and time again, if you still have you faith, money and assurance in the US economy or US Dollar you are on a one-way train to Mexico. Hold up...I'm in Mexico now and their currency is gaining everyday against the dollar. How about a one-way train to watching your money go down the toilet.

Don't believe me … well, read below and verify the info for yourself should you care to learn why.

-----------------------

AUDIT OF THE FEDERAL RESERVE REVEALS SECRET BAILOUTS

The first ever GAO (Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill (HR1207), so that a complete audit would not be carried out. Ben Bernanke(pictured to the left), Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve's nearly 100 year history were posted on Senator Sander's webpage earlier this morning.

What was revealed in the audit was startling: $16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world's banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious - the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.

To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is "only" $14.5 trillion. The budget that is being debated so heavily in Congress and the Senate is "only" $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world.

In late 2008, the TARP Bailout bill was passed and loans of $800 billion were given to failing banks and companies. That was a blatant lie considering the fact that Goldman Sachs alone received $814 billion dollars. As is turns out, the Federal Reserve donated $2.5 trillion to Citigroup, while Morgan Stanley received $2.04 trillion. The Royal Bank of Scotland and Deutsche Bank, a German bank, split about a trillion and numerous other banks received hefty chunks of the $16 trillion.

"This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else." - Bernie Sanders (I-VT)

When you have conservative Republican stalwarts like Jim DeMint (R-SC) and Ron Paul (R-TX) as well as self-identified Democratic socialists like Bernie Sanders all fighting against the Federal Reserve, you know that it is no longer an issue of Right versus Left. When you have every single member of the Republican Party in Congress and progressive Congressmen like Dennis Kucinich sponsoring a bill to audit the Federal Reserve, you realize that the Federal Reserve is an entity all to itself, which has no oversight and no accountability.

US taxpayers should be swelled with anger and outrage at the abysmal state of affairs when an unelected group of bankers can create money out of thin air and give it out to megabanks and super corporations like Halloween candy. If the Federal Reserve and the bankers who control it believe that they can continue to devalue the savings of US taxpayers and continue to destroy the US economy, they will have to face the realization that their trillion dollar printing presses can be stopped when people finally take the red pill and stop sucking on the blue one like candy.

If you have never listened to how the Federal reserve was created, check out the link below, "The Creature from Jekyll Island."

http://www.gngassoc.com/ConfCalls/The_Creature_from_Jekyll_Island.mp3

-------------------------------------------------------------
Internal Sponsorship:

To become a member of the G&G Investment Society newsletter subscription to learn how to take advantage of some of my suggestions so you can protect your wealth and portfolio against a fallen dollar, send an e-mail to GGIS@gngassoc.com and/or visit our website at www.gngassociates.net and click on the "Products & Services" link and we'll get you signed up right away.

DON'T WAIT ANOTHER DAY!

- 1 year subscription - $149
- 2 year subscription - $269
- Lifetime subscription - $699

*** Membership Guarantee ... If you don't make your money back from being a GGIS member by the end of your subscription...we'll refund 100% of your subscription fee back. That's how confident we are that this will be one of the best financial moves of your life.

So, Sign up today!!!

------------------------------------------------

The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows:

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)

and many many more including banks in Belgium of all places

View the 266-page GAO audit of the Federal Reserve (July 21st, 2011):
http://www.scribd.com/doc/60553686/G...-Investigation

Source: http://www.gao.gov/products/GAO-11-696

FULL PDF on GAO server:
http://www.gao.gov/new.items/d11696.pdf

Senator Sander's Article:
http://sanders.senate.gov/newsroom/n...3-62060dcbb3c3

http://www.unelected.org/audit-of-th...ecret-bailouts

If you want to know how to implement this strategy and not already a GGIS Subscriber what are you waiting on? Sign up today!

As always…feel free to pass this information on to anyone you think is interested in increasing their tax & financial IQ.

If you need a one-on-one consultation to learn how to implement these investments or any other on the GGIS portfolio, feel free to contact me to setup an appointment.

Metta (Wishing You the Best)

Asar Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

Become a Fan of G&G Associates and G&G Travel on Facebook.

"You can lead a horse to the water, but you can't make him drink it"
Ancient AfRAkan Proverb

P.S. If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the "G&G Travel" link and let your travel planning begin. Let us know where you want to go and we'll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on Facebook.

LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered personalized investment advice. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.

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