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What is Asset Vs. Liability?

Asset vs Liability

It’s a common misconception: many people mistakenly label certain purchases as assets when, in fact, they are liabilities. Let’s delve into this further.

1- New Car.
2. House
3. New Boat
This is to mention a few things people spend their hard-earned dollars on. A new car is a liability, not an asset because you will keep maintaining it. A house that you made a down payment for $100,000 and still have the mortgage to pay off in the next 30 years is also truly only an asset if it is a rental property and you are making money from it. If the house is not a rental property, it is only an asset once you pay it off. The mortgage company owns This asset by name, and you are just leasing from the mortgage for the next 30 years. When it comes to the issue of the boat. You have to maintain the boat to keep you safe in the water.

For instance, if you have $100,000 in cash, investing this money first might be more beneficial. Use the profits from your investments to fund your desired purchases. This way, your wealth can continue to grow while you enjoy the fruits of your financial prudence. Are you one of those people who spend their money on liabilities, thinking it is an asset? If you are, then the team of experts at PD Group can help you get out of the mess.

Mind, Mind, and Mind. The Vital Part of our Body

Control your mind at all costs because it is the best thing. If you fail to control your mind calmly and peacefully, someone else will end up controlling it for you, and that will be it for you and your future. You can allow people to control your assets and cash, but never give up on controlling your mind. Letting someone else control your mind is the worst thing you could do to yourself.

Don’t become angry when people throw stones or words at you. Don’t try to help rigid people understand you because they will never understand you anyway because they are too inflexible. Every button that you touch is a lousy button for them, therefore causing unnecessary war and unavoidable depression.

These rigid individuals will do everything to corner you into their proper channel. When you allow them to do so, you give them the power to drive you the way they want, Left and right, you name it. You are now dead because they are controlling your mind. How can you tell if someone is about to control your mind or already controlling your mind? It is straightforward: anytime you have a family talk or business talk with this group of individuals, they will get angry quickly for no reason, and they want to make you angry like them. In addition, they will immediately order you to abide by their rules whether you want or not. Some will come up with a negative conversation to get you upset. If you get upset quickly when talking to your partner at your place of work or partner at home, then know that that individual is now controlling your mind. However, there is still an easy way to regain complete control of your mind.

Here is the list

A- Allow the rigid people to be angry at you, but don’t be angry; respond with an honest smile. (No fake smile, only honesty.) Remember, you are doing this for your good, so giving a fake talk and a fake smile to the other part will hurt you.

B- When faced with aggression from this group, choose not to retaliate. You demonstrate your emotional maturity and self-control by refraining from responding in kind. Remember, you are in control of your actions, and by not hitting back, you maintain your dignity and integrity.

C- Talk less and allow the other party to take you the way their mind likes. Refrain from trying to prove yourself. You know you are 100% innocent, and you are being honest; allow them to take you the way that makes sense to them. Refrain from trying to correct them. Save yourself energy and stress. You will appreciate yourself later.

D—Don’t judge them, and don’t correct them. If this party calls you stupid, respond like this: Oh, thank you so much. I am glad you called me a silly person. Or say something like this: Thank you for being honest with yourself and me. I appreciate your proper judgment; I am indeed a stupid person.

E- Zip up your mouth for 85% of the time.

F- Mediate 1 hour every day.

G. Take a deep breath in before bed, hold it for 2 minutes, and breathe out. Do it three times before bed; your mind and body will know there is no danger, and you will sleep well.

H- Smile, be happy, and have joy in you.

Don’t forget, you came alone, and you will go alone. Even those who say they love you will never go with you. While you are in the hospital, they will be at home watching their favorite movie. Learn to understand that you came alone with nothing; you are now alone and will return alone. This is true. You are good only at the time you were born and good at the time you are dead, but between you, just managing. People will talk highly about you when you are gone, bringing flowers to your grave because they know you are not returning. You are gone and gone for good. Those who master their mind live a happy, joyful, and peaceful life. It took me 26 years and one week to learn this life-changing technique. How I wish I had discovered it when I was 12 years old.

I am your friend, Peter Deng, and there are so many areas I can help you with because I have knowledge that you can’t get from any textbook. Stop by my office or call now at (802) 393-9507

Big Refund In The Upcoming Tax Season

Tax season is at the corner and many taxpayers across the country will start experiencing low to high fever about the tax issue this year. Well, if you are self-employed and you don’t have a good accountant like Mr. Peter Deng of Peter Deng Tax Service then your fever could even go higher, and it is understandable.

Everything is fun in America, but taxes are not fun to deal with, during the tax time many taxpayers who haven’t paid their good share of taxes during the year ended up paying big to Uncle Sam and State department of taxes during tax time. Business People end up paying millions of dollars back to the IRS and State department of taxes and even the local taxes. Homeowners also pay for their property taxes and so on.

Despite the fact that tax time is not fun, and it is a season that is not celebrated by everyone, well there is still one group of people that look forward to the tax season knocking at their doors. The low-Income American group is the one being favored by the tax system. Low-income American families takes home every tax season millions of dollars in tax refund. The family of 5 members earning yearly wages of $18,000 to $25,000 could take home a refund amount of over $10,000 which is almost half their yearly income. This group is expected to get a big refund this tax season compared to last year.

Last year’s tax season was the worst tax season ever with the families not getting full child tax credit refunds due to the advance payment that was made out to them during the year by the IRS. Families who used to rely on their tax refund to survive were affected so badly for something that was poorly planned by people in power that changed tax rules. This coming tax season is different because no child tax credit payments were made in advance like last year, and so families with less income are expected to get a big refund this year. 

It is going to be a big tax season for families with children and who make less income at the same time.

I am Alive, So Greet Me Now

Greet me now, love me now, play with me now because the time will come when I will be the tallest tree in the jungle and the only tree with good shade you will dearly need at that moment.

Celebrate the best of me now while I am still alive so that when I am gone you won’t regret not celebrating it.

Bring me flowers of love, appreciation and of gratitude now while I am still breathing in the fresh air and not when the roots are above me. Cherish my achievements now while I am still alive so that I can feel you too. Let me know you love me as a friend, a brother, a good colleague, and good community member. Show it to me while I am still here so that I can feel and enjoy it. Don’t show me after I am under the roots with your flowers of goodbye forever. Bring my flowers now while I am still well alive with you so I can see your facial impression.

Don’t hate me because of what you hear from others or because of your negative imagination. Cherish me as a real human being. Greet me now with love for I may not be here tomorrow. You may want to greet me heartedly tomorrow, but I won’t be there to receive your kind greeting or what you considered as your kind of flowers.

You may want to bring flowers of all kinds, but it will be too late. You will cry when I am gone for the long journey, but your cry is going to be important only because you are not going to set your charming eyes on me. I became a very important person to you and to the world when I am gone but now, I am not and somehow considered by few heartless as a person of no value. You will wish you never thought this way of me when I am gone for my never returning journey. Love me now, support me now and promote me now when you still have a chance to do so. No one is sure of tomorrow, but we all assume that we will reach tomorrow alive.

Greet me now, give me my Christmas gift now, sit at the same table with me now and let’s share a good talk, good food and thank God for the good life because tomorrow I may be gone.

Tomorrow uncertainty, I may not be there to crack jokes and share good food with you. Tomorrow you will wish to have a good time with me, but I won’t be there for you and the world will turn dark and darker for you.

Play with me now as God know well about tomorrow. Play with me now when I can still play. Don’t play with me when I am not there, don’t love me when I am gone, love me when I am still here because tomorrow I will be the tree that will provide you with good shade.

Oh, my best friend, greet me now, give me my flowers now and don’t take life for granted because tomorrow I may be gone and gone.

About Author:

Peter Deng is a Professional Tax Accountant and Business Consultant based in Burlington, Vermont USA. Mr. Peter Deng, MBA, MSA is also known as a serial entrepreneur who is good at creating small businesses across East Africa. If you find yourself in Kenya, you may have been in one of his Matatu vehicles, but you will never know that matatu is owned by him. Same thing in Uganda and South Sudan where he runs other small businesses. Mr. Peter love crunching numbers all the time and during his free time he write short stories that are meaningful to life.


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