• About Frank

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  • Frank Rizzi manages Bos Commercial in West Covina and has been in real estate since 1988. Since then, he has made millions for his investors over the last decade.

    With his team of experts, he has built a solid reputation as a responsive expert with in-depth market perspective of a local firm coupled with the sophisticated capabilities of a national company.

    BOS Commercial has positioned itself to handle every aspect of your commercial property
    investment whether it be purchases, management, leasing, renovations, or sale of your property.

Irrefutable Laws of Leadership Part 3 (The Law of Process)

The Law of Process – Leadership Develops Daily, Not in a Day

  • Leaders require seasoning to be effective.  If you continually invest in your leadership development, the inevitable is growth over time.
  • The relationship between growth and leadership: It’s the capacity to develop and improve one’s skills that distinguishes leaders from their followers. Successful leaders are learners.  And the learning process is ongoing, a result of self-discipline and perseverance.
  • The Phases of Leadership Growth

Phase 1: I Don’t Know What I Don’t Know – few think of themselves as leaders and as long as a person doesn’t know the importance of leadership he isn’t going to grow.

Phase 2: I Know That I Need to Know – at some point we discover we need to learn how to lead.

Phase 3: I Know What I Don’t Know – if we don’t get better at leadership, our careers will eventually get bogged down.  In this phase you develop a plan for personal growth on areas you need improvement.

Phase 4: I Know and Grow and It Starts to Show – when you recognize your lack of skill and begin the daily discipline of personal growth, exciting things start to happen.  You start becoming an effective leader but you have to think about every move you make.

Phase 5: I Simply Go Because of What I Know – your ability to lead becomes almost automatic.  You develop great instincts which results in incredible payoffs.  But the only way to get there is to obey the Law of Process and pay the price.

  • Benjamin Disraeli asserted, “The secret of success in life is for a man to be ready for his time when it comes.”
  • There is an old saying: champions don’t become champions in the ring – they are merely recognized there.  That’s true.  If you want to see where someone develops into a champion, look at his daily routine.

As a  Property Management Company BosCommercial understands the importance of these truths.

Irrefutable Laws of Leadership Part 2 (The Law of Influence)

The Law of Influence

 

The True Measure of Leadership is Influence – Nothing More, Nothing Less

If you don’t have influence, you will NEVER be able to lead others.

The five myths about leadership:

  1. The management myth
    1. Leading and managing are not the same.  Leadership is about influencing people to follow while management is about maintaining systems and processes.  A leader can bring about positive change, a manager cannot.
  2. The entrepreneur myth
    1. People may be buying what an entrepreneur is selling but they aren’t necessarily following him.
  3. The knowledge myth
    1. Knowledge may be power but that power does not necessarily equate to leadership.
  4. The pioneer myth
    1. The pioneer out front isn’t necessarily the leader.   A leader not only needs to be out front, but also needs to have people intentionally following and acting on his vision.
  5. The position myth
    1. It’s not the position that makes the leader; it’s the leader that makes the position.

 

The very essence of all power to influence lies in getting the other person to participate.  If you can’t influence others, they won’t follow you.  And if they won’t follow, then you are not a leader

 

Several Factors That Make a Leader

  1. Character – Who They Are – true leadership always begins with the inner person.  People can sense the depth of a person’s character.
  2. Relationships – Who They Know – with deep relationships with the right people you can become the real leader in an organization.
  3. Knowledge – What They Know – information is vital.  You need a grasp of the facts to develop an accurate vision for the future.
  4. Intuition – What They Feel – leaders seek to recognize and influence intangibles such as energy, morale, timing and momentum.
  5. Experience – Where They’ve Been – the greater your past challenges, the more likely followers will be willing to let you lead. The 21 Irrefutable Laws of Leadership
  6. Ability – What They Can Do – the bottom line is followers want to know whether you can lead them to victory.  As soon as they no longer believe you can deliver, they will stop following.

Irrefutable Laws of Leadership

Law of the Lid

Leadership ability is the lid that determines a person’s level of effectiveness.  The lower an individual’s ability to lead is, the lower the lid on his potential is.  The higher the leadership is, the greater the effectiveness is.  Your leadership ability – for better or for worse – always determines your effectiveness and the potential impact of your organization.

The McDonald brothers are an example of weak leadership putting a lid on their ability to succeed.  The brothers started the McDonald’s hamburger chain but lacked the leadership to take it to national prominence.  Ray Kroc had a vision for a national hamburger chain and bought the brothers’ business and turned McDonald’s into the successful giant restaurant chain it is today. Ray Kroc’s lid was high and obviously the McDonald’s leadership lid was low.

 

  • Leadership ability is the lid that determines a person’s level of effectiveness.  Your leadership ability always determines your effectiveness and the potential impact of your organization.
  • By raising your leadership ability – without increasing your dedication at all – you can increase your original effectiveness by 600 percent.  Leadership has a multiplying effect.
  • Smart, talented people are able to go so far because of the limitations of their leadership.  To reach the highest level of effectiveness, you have to raise your leadership lid.

12 Tempting Tax Tips For 2012

In recent years, as Congress crafted new laws such as housing bills, health care reform or extended tax provisions such as the Bush-era tax cuts, lawmakers were careful to make sure that no major taxes took effect in 2012.

Why; because it’s a presidential election year. No candidate wants to explain to voters heading to the polls why they are facing added taxes.

But there are still many tax considerations in the coming year. Here are 12 tax tips, reminders and planning tools for 2012.

Tip 1

Remember Roth IRA conversion taxes: Anyone, regardless of income, can convert a traditional individual retirement account to a Roth IRA. But when that option first became available in 2010, a special feature that year allowed individuals who converted to a Roth IRA to spread the taxes due on converted amounts equally over the 2011 and 2012 tax years. That means your first Roth conversion tax bill will be included on your 2011 return filed in 2012. Make sure you have that cash on hand, and plan now for the 2012 conversion bill.

Tip 2

Claim your American Opportunity: The American Opportunity Tax Credit was a centerpiece of the 2009 stimulus bill. The new education tax break expanded the existing Hope Credit, providing a credit of up to $2,500 of the cost of qualified tuition and related expenses, and up to $1,000 of the credit could come back to the taxpayer as a refund.

The American Opportunity Credit was originally supposed to end in 2010, but it was extended through 2012. However, this could be the credits last year. Congress is looking for ways to cut the federal deficit, and allowing tax breaks to expire is an easy way to save some dollars. If you have eligible education expenses, be sure to claim the American Opportunity Credit while you can.

Tip 3

Note health care info on W-2: When you get your 2011 W-2, you might notice some new information on the form. Box 12 is where employers will report the cost of your workplace’s group health insurance coverage. This amount is both the amount the business pays as well as the premiums paid via payroll deductions by the workers.

Don’t freak out. The amount, which will be designated by the code DD, is not taxable income. It’s informational only, designed to help Uncle Sam confirm taxpayers have coverage. Under the health care reform law, the Affordable Care Act, the data will help to enforce the eventual individual coverage if it survives a Supreme Court hearing as well as the so-called Cadillac tax on more expensive workplace insurance plans.

However, if you don’t see anything in Box 12, don’t freak out about that either. The IRS ruled that reporting 2011 health care data is optional for employers.

Tip 4

Pay attention to Form 1099-K: If you get a Form 1099-K in 2012, don’t toss it. The new form records payments received in 2011 by credit card or through third-party networks such as PayPal. This added income reporting mechanism was created as part of the Housing Assistance Tax Act of 2008 and is finally taking effect for the 2011 tax year because of concerns that some small businesses do not report all of their income. Previously, the Internal Revenue Service had to take taxpayers’ word that all income was reported because the agency didn’t have access to credit card or online payment details. The 1099-K changes that.

Tip 5

Be ready for basis reporting: Beginning with the 2011 tax year, brokers must report an asset’s basis, the value that is used to determine profit when you sell, to the IRS. That amount will show up on the 1099 forms you receive in 2012 for 2011 stock transactions. Additional basis reporting will be phased in, in 2012 and 2013. You might have heard of this new requirement when your investment managers asked which type of basis reporting you preferred they use. Generally, brokers must report the sale of securities on a first-in, first-out basis unless the customer specifically identifies which securities are to be sold.

Tip 6

Accelerate income: Most tax experts will tell you to pay no tax before its time. However, impending income tax rate changes might make 2012 the exception to that traditional tax adage. The top ordinary income tax bracket in 2012 is 35 percent of annual taxable income. If Congress doesn’t act, the highest tax rate will go to 39.6 percent in 2013. So, if you’re in the top tax bracket, you might want to accelerate income into 2012 and pay taxes at the lower rate.

Tip 7

Cash in winning stocks: Along with higher ordinary income tax rates, there’s a possibility of higher tax rates on investment income. Through 2012, the top federal capital gains tax rate is 15 percent for most taxpayers, and no tax is due from investors in the 10 percent and 15 percent tax brackets. These lower rates apply to assets held for more than a year. If you believe capital gains taxes might go up, 2012 could be a good year to lock in profits on long-term investments.

Tip 8

Plan for the added Medicare tax: Higher-income earners always have a few more tax considerations, and that’s true in 2012. In 2013, a new 3.8 percent Medicare tax is slated for collection on profits from the sale of investment property.

This includes capital gains, dividends, interest payments and, for those who own rental property, net rental income. The tax will apply to individuals with a gross income of $200,000 or more or married couples filing jointly with a combined gross income of $250,000 or more. If you’re in the targeted income brackets, talk with your tax and investment advisers about steps you can take this year to prepare for the new tax.

Tip 9

Assess AMT danger: The alternative minimum tax, or AMT, is a continual tax trap for millions of middle-income taxpayers. This parallel tax system was created in 1969 to ensure wealthier taxpayers pay a minimum amount of taxes, primarily by disallowing several common deductions that are claimed under the regular tax system.

But because the AMT is not indexed for inflation, Congress must increase the income levels affected by the alternative tax.

It’s possible that tax reform in 2012 could eliminate the AMT, a longtime goal of many lawmakers. But just in case that doesn’t happen and you fear you might end up paying the alternative tax, talk with your tax adviser about ways you can limit your AMT exposure.

 Tip 10

Give gifts: Giving to charity can help reduce an annual tax bill, but if you have a large estate, gifts also are important estate tax tools. Thanks to the resurrection of the estate tax in 2011, the unified gift tax also returned. This means you can give away $5 million during your lifetime without having to pay the 35 percent gift tax.

 There’s also an annual amount to note in giving away your estate’s assets while you’re still around to get thanks. In 2012, you can give up to $13,000 each to as many individuals as you wish without any tax costs to you or your gift recipients.

 Tip 11

Evaluate estate tax implications: Speaking of the estate tax, the inevitable meeting of death and taxes will be a hot topic in 2012. If Congress takes no action, the current $5 million estate exclusion will fall to $1 million, and the tax on estates larger than that will be 55 percent on Jan. 1, 2013. If your estate will be larger than $1 million, talk with an estate tax adviser in 2012 about options to reduce any possible larger federal tax bite.

 Tip 12

Hire a registered tax pro: The IRS is continuing its efforts to regulate tax preparers. The process began with the registration of return preparers and the issuance of a personal Preparer Tax Identification Number, or PTIN, to each. The IRS is ramping up its effort to hold tax preparers accountable and weed out unscrupulous tax pros, with proposals to fingerprint preparers and, in 2013, require them to pass competency exams. If you hire a tax pro, ask about his or her IRS registration status, along with your usual inquiries to verify the preparer’s ability to meet your tax needs.