Hi everyone,

I had a great meeting with my CPA Kevin Bassett earlier today (for about 1:40) and he helped me find a way to "soften" a $180k hit I took from a 2007 business deal I was involved with... In essence he helped me to turn that hit down by 30-40% to just a $100-120k hit... Still hurts, but lots less.

That got me to thinking about the specific ways you can profit from a business or investment loss, which is what I am going to focus on today in my letter to you.

But first I want to extend to you this private invitation to join me for a FREE online workshop I am personally teaching this coming Saturday April 4th called, The Three Questions to Change Your Financial Life Forever.

I hosted this online workshop once several weeks ago but we ran out of room to register so I am going to do an "encore" just for you!

Have you ever felt unsure of exactly where to focus your time and energy to build Level Three wealth? Over the past 15 years I've literally helped over 100,000 clients create more certainty and control over their financial lives.

The biggest stumbling block for them was all the "noise" that distracted them from knowing where to invest their time and energy that would guarantee them the results they wanted.

That's why I came up with these three questions, to simplify the complex world of building wealth and give you a clear line of sight to reach Level Three.

This 70 minute online workshop starts at:

10am Pacific 11am Mountain Noon Central 1pm Eastern

To register and join me for this special 70 minute webinar this Saturday April 4th just click here.  It's free, but the information you'll learn about how to cut through all the noise financially and focus your wealth building efforts in like a laser beam are literally PRICELESS!

Space is limited to the first 500 people who join us (sorry, but that's the limit of the company that streams the workshop over the web...)

Now that I've shared the online workshop details I want to talk about 4 ways you can profit from any business or investing loss.

1. Write it off! Seems obvious, but so many business people miss this one that I HAD to include it. Writing off your "loss" the right way is like getting a 30-50% rebate on the loss from the government!

2. Get strategic on the write off with your tax advisor. For example, one client of mine bought a business (C-Corp) a few years back... he recently took the election to make it an "S-Corp"... With me so far?

Well, on the books of the corp when he bought it was a $700,000 "debt" that was no longer going to be paid from BEFORE he bought the company... sounds horrible right? WRONG! The $700,000 was already gone, and my client never spent that money, the old owner took the hit...

BUT, my client, now that he is making S-Corp election, is taking the "loss" this year... that $700,000 paper loss will flow through to him on his PERSONAL tax return!

That equals INSTANT profit... How? Because he can go back a few years and amend his returns to carry that loss backwards to offset old tax he had paid (and now he gets that money back!) Then with any "left over" loss, he applies that to legitimately shield income from this and later years.

In essence he turned a paper loss from that entity into the equivalent of over $250,000 cash!

3. Profit from the lesson. What did you learn from the loss? How can you apply the lesson in your business and investing moving forward?

Life has an interesting way of upping the ante... what you refuse to learn at $200 costs you $2,000.... And what you refuse to learn at $2,000 costs you $20,000... and up from there.

Action Step: Think of a business or investment loss from the past 12 months... what was the deeper lesson for you? How will you apply this lesson moving forward?

4. Share it! That's what I do... When I make a bad financial move or suffer a business reversal I share it with my students like yourself... Not only does this help me come to terms with the loss faster (and get over my "pity party") but it helps push me to get my lessons, reframe the loss, and get on with the business of moving forward towards my goals and ambitions....

What about you? Are you still holding on to any "losses" emotionally? Share them... teach others the lessons you've learned. Get on our community site and share about them... share them with your mastermind team...

Remember, the best way to make the journey to Level Three wealth is among friends.

Hope you enjoyed these ideas. I am feeling inspired and may just send you one or two more later this week. We'll see!

Sincerely,

David Finkel