Entrepreneurship – What They Don’t Teach in School by Dan Grijzenhout - “Dan Grijzenhout” Channel This Presentation Can be Downloaded From Our Website at:

Who is Teaching You?  Department of Education: A Government Department That Builds the Schools and Then Staffs It With Teachers, Maintenance Personnel, Etc.  Are Department of Education Personnel on Salaries? Yes  Does the Department of Education Build the Curriculums to be Taught? Yes  Teachers: Teachers are Salaried Personnel Employed by the Department of Education  Teachers Teach You What They Know - They Know How to Get and Hold a Job  Parents Also Teach You – Directly and by Example  How Do They Earn Money?  Mostly, They Have Salaried Jobs and Work 8 Plus Hours a Day for Companies

What Are They Teaching You in School?  What Do Teachers Teach You?  Basic Skills in Mathematics, Book Keeping, English, History, Geography, Writing, Typing, Reading, Science, Home Economics, Wood Working, Auto Mechanics, etc.  Why? So You Are Equipped to Start Your Salaried Careers (They Call Them Vocations) as:  Teachers, Book Keepers, Office Workers, Scientists, Chefs and Restaurant Employees, Auto Mechanics, Carpenters, Government Employees, etc.  Are These Vocations Mostly All Salaried Jobs? Yes  Do They Teach Entrepreneurship at All? No!  By The Time You Finish 12 or More Years of Schooling, What Are You Programmed to Do? Look for a Salaried Job

What Are The Schools Not Teaching You?  They Are Not Teaching You How to Start a Self-Employed Career  They Do Not Teach You The Mathematics of Tax Returns and the Benefits of Being Self-Employed  Why Not?  Salaried Jobs are What Over 90% of the World’s People Do – They Teach to the Majority  It is Salaried People Who Build The Curriculums – They Design What They Know  Getting a Job is the Safest Direction to Send Students…:  Employees Get a Paycheque Every Month for Life  Self Employed People Have to Make It On Their Own Ingenuity, Drive and Knowledge and They Have No Safety Nets…  By the Way…Which Category of Worker Generates The Highest Tax Income for the Government? The Salaried Employee Does…

Employee Tax Return Mathematics The Basic Formula For an Employee Tax Return is as Follows:  Salaried Income  Personal Exemptions  Personal Deductions  Taxable Income  Tax Rate (Example)  Tax Owed $50, $ 5, $40, % $12, Disclaimer: No Actual Numbers and Percentages Above – Just Conceptual to Show the Principle of the Math Differences Between Employment Returns and Self-Employed Business Returns

Self-Employed Tax Return Mathematics The Basic Formula For a Self-Employed Tax Return is as Follows:  Business Income  Personal Exemptions  Personal Deductions  Business Expenses  Taxable Income  Tax Rate (Example)  Tax Owed $50, $ 5, $15, (Key Differentiator!) $25, % $ 7,  Share of Auto Expenses & Gasoline  Share of Auto Depreciation  Share of Rent or Mortgage  Share of Home Utilities  Share of Internet Costs  Advertising Costs  Office Expenses and Business Meals  Uniforms  Share of Home & Auto Insurance Business Expense Examples: Disclaimer: No Actual Numbers and Percentages Above – Just Conceptual to Show the Principle of the Math Differences Between Employment Returns and Self- Employed Business Returns

Mathematics Comments  As an Employee, the Tax Department Gets More of What You Earn Than If You Are Self-Employed  The Key Tax Return Differentiator is Allowable Business Expenses  All Costs Related to Operating Your Business Are Now Tax Deductible Thus Reducing Your Tax Bill When You File  Example 1: Employee Drives to Work – No tax deduction.  Example 2: Self Employed Contractor Drives to Work – Can deduct gasoline, vehicle repairs, license costs, etc. and can depreciate the value of the vehicle when filing a return.  The Tax Department, by This Structure, is Rewarding Those Who Risk by Allowing Them to Keep More of What They Earn – Why?  Employers Create Jobs for Those That Want to Be Employees. Self-Employed People Often Become Employers…  Tax Department Recognizes Self-Employed Have No Job Security, Pensions, Holiday Pay, or Other Employee Benefits  Tax Department Recognizes That Self-Employed Must Regularly Be Marketing Their Next Engagement, Sale, Etc.

Closing Comments…  Why Do So Few People Become Self Employed / Entrepreneurs?  Fear of the Unknown – They Have Never Been Taught Anything About Entrepreneurship in Their Lives  Fear of Losing Their Weekly or Monthly Salaried Paycheques  They Need the Feeling of Security  People Just Don’t Know Enough to Risk Starting Something  – They Do Not Know How to Do It or Where to Begin  Peer Influences – All Their Salaried Friends, Their Families Who Depend on Them, etc. - Who Are Also Afraid to Take a Plunge, Put Doubt Into The Minds of Those Considering Trying It  People Are Afraid To Sell Anything to Others  They Do Not Want to Put Any Purchasing Discomfort on Others  They Are More Comfortable in a Job Taking a Cheque From an Employer But If You Don’t Do Something… Many of You Will Put Your Retirement at Risk