Luckily starting in 2003, if you work as a consultant, freelance worker, and other self-employed individual you will be allowed to deduct all of your health insurance premiums. This is an increase form 70% that was deductible in 2002. You can take self-employed health insurance deduction even if you do not itemize your tax return.

But, even with health insurance medical expenses that come out of your pocket can overwhelm you. If you have to dip into your retirement savings for certain medical expenses, best way to do so is to transfer your IRA or previous 401(k) account to a Self-Employed 401(K) plan that you set up. You can then take a loan from that plan. Loans from a Self-Employed 401(k) plan are tax-free and penalty free as long as they are paid back.

6.Make an exhaustive “do not want” list. In this list, you write down everything you do NOT want in situation such as “to look foolish”, “to be unprepared”, etc.. Once you write this all down - ALL OF IT- you will clear your mind and be ready to generate productive solutions.

7.Distract yourself. Sometimes, getting your mind off upsetting subject is enough to calm you down. Consider closing your door and playing computer games or something equally mindless (but absorbing). Shifting your focus will shift your attitude.

8.Ask, “What’s working about this situation?” This tip comes from Kurt Wright’s book, “Breaking Rules”, and suggests that we all can manage stress better if we start looking at “what’s working” rather than “what’s wrong”. Many times, communication breakdowns or glitches can show you where better systems need to be created and placed and ultimately, will enhance viability of your organization.

9.Take an action. Sometimes, when one piece of business plan isn’t moving, it may mean that another part is ready to be acted upon. Rather than feeling annoyed and frustrated, transform that energy into positive movement forward, where you can.

10.Make a strong request. If you would like something to be different, start process of making it so. Contact key people, letting them know that you’d like to work on impasse, and make your needs and those of your business known. Sometimes, just communicating about your desires in form of an appropriate request can move situations along.

Regular use of these tips will help you stay well balanced & happy as your business grows and flourishes. Try them and see!

© 2003. Dr. Rachna D. Jain. All Rights in All Media Reserved.