Norton Accounting Services, LLC - March 2022

Norton Accounting Services, LLC - March 2022

NortonAccountingServices.com 985-640-6072 [email protected] MARCH 2022 NORTON NEWSLETTER EASE OF MIND • AVAILABILITY • FLEXIBILITY • INDIVIDUAL APPROACH • EXPERIENCE • TAX SAVINGS OPPORTUNITIES THE REAL ESTATE TAX PRO ™

In 2019, a friend gave me a book by Dan Sullivan entitled “My Plan For Living to 156.” In this book, he says that most people live to around 85, because that is when they believe that they will pass away. So, their minds make that happen for them. FROM THE DESK OF Bob Norton He also said that if you change your mind to live longer then your subconscious mind begins working to make that happen. Primarily, you begin thinking about what living longer would require and you begin seeing opportunities to make that happen. After reading the book, I decided to live to be at least 200. Things appear impossible only because no one has done them before. Here’s some of the challenges I figure I’m going to have to work on to get there. First – health. I’ve made changes in my life to improve my health. Second – Mental Health. Getting Alzheimer’s and dementia scares me. So, I exercise my brain by learning new things daily. Third – wealth. I’ll need an income stream to carry me far into the future. I’m actively building my business and rental portfolio so that I’ll have those assets generating cash flow for a long time.

6 Inventions Created to Their Credit THE POWER AND INFLUENCE OF WOMEN

March 8 is International Women’s Day! I am grateful and honored to be surrounded by so many great women in my life. They have truly made me the person I am today. In honor of this special day, let’s take a look at some inventions that you may not know were created by women. See if you knew any of these impressive facts — I certainly didn’t until now! Computer Software Grace Hopper joined the U.S. Navy during World War II. She was assigned to work on the Mark 1, a new computer. In the 1950s, she was one of the pioneers of computer programming and was part of a team that created COBOL, one of the first modern programming languages. Hopper drove huge scientific leaps forward to help us get the computer software that we use today. The Circular Saw Tabitha Babbitt was a weaver, and she suggested the idea that lumber workers use a circular saw rather than a pit saw. She created a prototype in 1803 and added the attachment to a spinning wheel. Legend has it that she got the idea for this saw after seeing two men struggling with a pit saw. Today, we consider this invention one of the most important creations in the lumber industry. Solar Houses Maria Telkes, a biophysicist, created the first solar house in 1947. With the help of an architect, Eleanor Raymond, they kept a house in Dover, Massachusetts, warm for three

Who knows how far I’ll get? Focus and tenacity has worked well for me so far.

–Bob Norton

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... continued from Cover winters. Telkes captured sunlight with a double layer of glass and a black sheet of metal, then warm air was piped into the walls. She was given a grant from the Ford Foundation to create solar houses for people living in all latitudes. Today, we see many solar-paneled houses and businesses, and they continue to expand across the nation.

husband, she created a camera powered by a motor that looked through the peepholes in her front door. The alarm was paired with a monitor in her bedroom and an alarm button. This simple, effective design has since been transformed into full home security products, like Ring cameras!

Monopoly The game we all know and love was created by Elizabeth Magie in 1904. She is an inventor and stenographer who created this game to educate people about monopolies, unchecked capitalism, and the negative effects of having vast sums of wealth. Monopoly was ranked as one of the best-selling games in 2020 and 2021, and to this day, Monopoly is still educating people.

The Dishwasher Josephine Cochrane invented the first automatic dishwasher that involved a motor turning the wheel inside a copper boiler. How did she come up with this ingenious invention? She wanted a machine that would relieve housewives of the duty of washing dishes after every meal. Cochrane’s invention has evolved into the dishwashers that most of us have in our homes today.

All of these inventions are items that most of us use every day in our daily lives. There are so many strong and powerful women in this world. On March 8, be sure to thank the women in your life for

Home Security Systems Marie Van Brittan Brown was a nurse who was often home alone at night. During the 1960s, there was a rise in the crime rate and a decrease in police responses, and she began to feel unsafe in her own home. With help from her

everything they have done and continue to do for you.

WHEN TO USE EACH CARD Credit or Debit?

When it comes to purchasing items, you have a choice about whether you should use your debit or credit card. Although these rectangular pieces of plastic look the same, they are very different. With credit cards, you’re borrowing money, whereas a debit card takes money directly from your account. That being said, is there a better time to use credit than debit? Here are a few instances to help you determine when to use which card.

businesses have a surcharge when you use your credit card, but debit cards are excluded from these fees.

• If you make an international purchase , you may want to use your debit card if your credit card company charges foreign transaction fees.

Credit Card

Debit Card

• Your credit card is preferred for safer online shopping to prevent your debit card information from being on the internet. However, check your browser and shopping apps to make sure your credit card is the preferred payment method. • If you have any subscription services or bills, your credit card works great for recurring payments . Your fees will be paid automatically, and these regular on-time payments will help raise your credit score.

• If you need to access cash quickly, it’s best to use your debit card. If you use an in-network ATM, you can withdraw cash without a transaction fee. But if you use an out-of-network ATM, your bank and the ATM provider will charge a fee. Although you can use your credit card to withdraw money, the fees are usually even higher.

• Debit cards can help you avoid merchant fees from businesses. Some online retailers, restaurants, and small

• If an emergency occurs , put it on your credit card. This will give you some time to pay off the expense if you need it.

Which card you use is a personal preference. Use whichever method you’re comfortable with and makes sense for you. Always check your balances and fees to ensure everything is in order and cost-effective. If you see suspicious activity on your account, contact your bank for assistance.

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Protect Your Identity and Kick Scammers to the Curb 5WAYS TO DEAL WITH ANNOYING ROBOCALLS

3. When in doubt, let it ring out. If you don’t recognize the number calling, don’t answer. You can always call back if they leave a legitimate voicemail. 4. Suspect spam? Hang up. So, you accidentally answered a spam call. Whether it’s a person or a robot on the line, hang up immediately! Even saying your name or the word “yes” could set you up for identity theft. 5. Handle voicemails with care. If you get a suspicious voicemail, never call the number or visit the website given by the caller. Instead, Google the company or agency they claimed to be with and call that number. If the real agency has no idea about the call, you’ve just escaped a trap. By taking all five of these steps, you can protect yourself and your wallet from Ponzi schemes, identity thieves, and annoying telemarketers. For even more specific advice, visit AARP.com and search “The Definitive Guide to Reducing Robocalls.”

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