[3-2-1] Deduct $13K by hiring your kids and 2024 Insights

Happy Friday!

As promised here is your weekly 3 - 2 - 1 update bringing you the most relevant and actionable insights for the week.

1 “Time Well Spent” Video

Did you know that you can take a tax deduction up to $13,000 by hiring your kids?

In this week’s “time well spent” video, Dan talks about how hiring your kids can help you save on taxes.

2 “Deep Dive” Articles

To hire the best talent and retain your strongest assets, it’s important to understand what employees are looking for. From transparency in communications and processes to sustainable integration of new technologies, entrepreneurs and small business owners can focus on improving five key areas to foster a thriving workforce.

Since the COVID-19 pandemic, the rise of remote work has triggered a significant shift in traditional workspaces. This evolution has compelled businesses to swiftly adjust to the changing needs of the modern workforce. Many employees, having experienced the benefits of flexible working arrangements, are in no rush to return to the office. It's increasingly evident that remote work is here to stay. Businesses and remote workers alike need to adopt strategies to adapt to the new working realities while maximizing productivity.

3 “Stay Ahead” Articles

Biohacking has become a buzzword in the past years, with proponents like Dave Asprey and Wim Hoff advertising incredible benefits from simple practices. Biohacking refers to the practice of making changes to your lifestyle, environment, and biology to enhance your physical and mental performance. Although it is important to note that not all biohacking trends have scientific evidence to back them up, several areas have the potential to significantly improve productivity for entrepreneurs. If practiced regularly, the following self-care routines can help you improve your sleep, focus, health, and general well-being for greater success in your business.

Becoming an entrepreneur requires more than just ambition — it demands a keen understanding of the lessons of the industry the person works in. These lessons serve as beacons, guiding aspiring business owners toward the hallmarks of success. Tenacity, vision, and consistency can help any small business, but 2023’s most profitable small businesses showcased a mastery of additional, yet necessary skills such as flexibility, research, social media, and customer service. Remember, entrepreneurship is living a few years of your life like most people won’t, so you can spend the rest of your life like most people can’t.

An eventful year in the finance world, 2023 brought a rollercoaster of highs and lows for the U.S. economy. From bank failures to the rise of artificial intelligence, the financial landscape underwent significant changes. Businesses dealt with inflation and insurance rate hikes. Investors saw both stock market recovery and bond market struggles, challenging traditional investment rules and causing doubts about achieving financial goals.

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Don’t Forget to Play Your Game,

The Rigging the Game Newsletter Team