Friday, 20 December 2019

Think Laterally!

I teach my students to think outside the box. Lateral thinking keeps them a head and shoulder above competition.

You can and should think differently than what is the common thoughts in any particular area. For example when it comes to claiming your car expenses to lower income tax, most people use the most common method of using a log to record how many kilometers they used the car for business purposes.

This is of course the main way car expenses are used to lower your taxes. But government has set a maximum monthly limit on this. So if your car expenses go above the limit then you cannot use the amount above the limit even though they were used for business purposes. 

There are many other creative ways you can use your car expenses that allow you to claim all the expenses. Using your car for advertising is one way to do so.

For example if you put a magnet sign on your car with your osteopathy clinics info on it and park your car in a corner of parking lot that pedestrians can see, or when you drive it around, that can work as advertising for your osteopathy clinic. Then your corporation can pay for using your car for advertising, or the corporation can pay your expenses.

Depending on your income and tax rates, you can also rent your car from your corporation, or lease it, or your corporation can rent it from you. Your company can also buy the car for you. Each case is different and depends on your situation.

At different times in my professional life I had luxury cars such as BMW, Mercedes, Porsche, Jaguar and Range Rover which I used for business and was able to claim all their expenses even though their expenses were above the monthly government limits.

So sit down, think and see how you can use your car for business that allows you to get the most tax credit possible.

To become wealthy you have to think laterally!

The Travelling Osteopath

Friday, 13 December 2019


Wealth tax is unknown to those who live outside Europe. In Canada, USA and Panama there is no such tax. However in European countries such as Spain and France there is a wealth tax that takes up to 2.4% of your net worth. This is applied to both residents and non-residents who work there. It applies to all your profits, investments, savings and assets you accumulate during the year and you pay this every year.

Luckily there is no such tax in Canada and US. However this may change. One of the Democrats leadership candidates in US is proposing to add a Wealth Tax in US if she becomes president of United States in 2020 election. 

If you plan to move to Europe, you should check all the applicable taxes. Their system differs from Canada and US and that may affect your financial situation.

For example if you buy a property in Spain, aside from property tax, you also pay Rental Income Tax (between 1 to 2%) even if you do not rent your property. You will also pay up to 30% tax on the appreciation of the land value your house is built on, as well as up to 23% capital gain on selling the house.

Spain is a great place to visit and vacation in. I loved my vacation in Mallorca. It was amazing. Look at the mountains in this photo! They are heavenly!

I am currently in Madrid as I have to work on merging the admissions offices of National University of Medical Sciences in Madrid (Spain) with the one in Naples (Florida) in order to decrease our operational costs. After Madrid I have to visit Naples and spend some time in Florida before going home to Panama. 

A Simple Way to Increase Your Income

For obvious reasons you should aim to increase your income every year. However one not so obvious reason is that if you do not, you will actually lose money!

If your income is the same every year, you are losing money due to inflation. For example in 2018 the inflation rate in Canada was 2.24%. Meaning if you made $100,000 in 2017, your money in 2018 was worth $97,760 in purchasing power!

I teach my students at National Academy of Osteopathy and National University of Medical Sciences a simple way to increase their yearly income and it never fails to help them make more money every year.

What you measure gets managed and what you pay attention to grows. So to increase your annual income you should focus on it.

One simple way to do so is to decide how much of an increase you want to have. Then use a large blank paper (they sell this at Staples) and make a chart on it.

Make two perpendicular lines on the paper. On the vertical line start at the bottom your current income and on the top your desired income. Then divide the line to 10 segments,

Divide the horizontal line into 12 segments, starting with the next month, for example, December, January, February, etc.

Now post this chart in a room of your house that you use most often (hopefully not the kitchen or the bedroom! ). The goal is to see this chart all the time.

As I mention regularly to my students what gets measured, gets managed. Once you know your monthly income (many do not know this) then consciously and subconsciously you will do things such as marketing that is needed to increase your monthly income because the reminder is there in your home everyday for you to see. It motivates you.

I use this technique effectively everytime I want to lose weight! It works greatly for weight loss as well! It is simple yet effective way to help you achieve your goal.

I am leaving Madrid soon. My work at National University of Medical Sciences (Spain) is finishing soon and it is time for me to visit National University of Medical Sciences (USA) in Florida. We are merging the admission offices of our two universities in Spain and USA to decrease operational costs.

Mimosa Tree

My grandparents in their home in the village of Foshtom (in Gilan, Iran), had a tree that was so exotic looking. I never saw it anywhere else in Iran and I always thought of it as an exotic tree from a far away place.

In Europe I saw many such trees. Recently I learned this tree is called Mimosa Tree, or Persian Silk Tree or Pink Silk Tree and that it is a native of Iran. In 1800s it was brought to Europe by an Italian and from there to Florida, California, Panama and elsewhere!

I have decided to buy this tree and plant it in my home in Panama as a way to remember my grandparents.

The flowers are like silk and when I was a kid (and even now) I loved to rub one on my face. It just feels so good! 

💟 My First Year Anniversary of Moving to Panama! 💟

It was around this time last year, November 27, 2018 that I was on my way to the airport. It was dark around 5AM or so, snow on the ground and a depressing mood fell over me. This was the 2nd time in my life where I was leaving permanently to another country. First was when I left Iran at the age of 20 and 2nd leaving Canada for Panama at the age of 52.

I was leaving behind family and loved ones. I travel often, sometimes once per month. And I lived in many countries but as a tourist. Until then I had never left Canada permanently. My heart was in Canada and I felt depressed and sad. Tears were flowing from my eyes and doubt penetrated my heart and mind. Was I making a mistake? Will I see my loved ones often? 

In the airplane I was also in a depressing mood as well. What was I doing uprooting my life after 32 years of being in Canada? Canada is beautiful, Canada is amazing. I was even thinking about getting the next flight back to Canada!

When the airplane landed, when the door opened and I got out the hot air hit me. I am a Latino in my heart. I love the smell of the air, the sun and the heat in Latin countries. Something in the air excites me, rejuvenates me. Energizes me.

When I got out the airplane, a smile came on my face. I felt at home immediately and I knew I made the right choice. My gut feeling told me so as well.

Moving to Panama was one of the best things I have done in my life! It changed my life personally and business wise. It opened my eyes to a world of possibilities. Panama has one of the best business laws I have seen. You keep everything you make for yourself and your assets are protected. The food is local and tastes great, how it should taste. I have never eaten anything more tasty than here. The veggies, fruit and seafood are amazing. People are so friendly. There is natural beauty everywhere. Air is fresh and clean, no pollution.

All in all Panama is a beautiful safe country with great people, clean food and clean air. Your body stays healthy, your soul remains happy and your wallet remains full. And you do not need to hibernate six months of the year indoors because of snow and cold weather! A win win situation!

What day can be better than today?

Everyday when I wake up the first thing I do in the dark is to smile because I witness a miracle, which is I am still alive for one more day!

What day can be better than today? I woke up and I still breath!

That in itself is a reason for me to celebrate today!

I love my Grateful Walks!

Early in the morning, when the world is quite, I walk outside to give thanks to God for all I have. The walk keeps me healthy in the body and mind.

I like this so much that I made a lecture out of it in the Business Management lectures I give at National Academy of Osteopathy and National University of Medical Sciences.

Many of my students now do the Grateful Walk everyday and they love it!