Are these tax avoidance strategies right for you?
Check these year-end
tricks to see if you can save this year. You may be able to divest a large,
low-basis holding. You may be able to cut the AMT. There are several
layers to the tax in US, so you need to see your accountant/planner/advisor to
get started avoiding taxes. Your Congress person can probably help with a
little non-quid-pro-quo giving. They write (with lobbyist’s help) the tax code.
The Supremes have made it almost impossible to ‘bribe’
your representative, so go for it. In fact, your profitable corporation can
just rent a post
office box in the Caymans and lower its taxes to 0% like Boeing, General Electric, and Verizon, and
24 others.
For the middle-class there is this tax haven: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466
How can you avoid income tax in retirement?
Stop adding money to your employer retirement plan! You have
been converting the low rates that the rich pay on capital gains (15%) into
income taxes that hit 25-35%. Switch to a low-cost Roth IRA and pay nothing on
that money in retirement. If your retirement income is not subject to income
tax then you are more likely to pay $0 on your Social Security benefits.
Contrary to popular myth, benefits are taxable if you have other income. You
may be able to avoid paying income tax later by converting your taxable IRA to
a Roth now in years when you have lower income.
Other tax-avoidance
strategies require more work: borrow from your assets without repayment,
use your legal entities to borrow cash, offset taxes with tax losses, cash
value life insurance, etc.
Is a Roth IRA conversion right for you?
Conversions of deductible 401k or rollover IRA to a Roth IRA have increased 800% recently. Why? Each $1 you already put into those accounts could grow to $46 by retirement and if they were in a Roth, you would have 25-30% MORE because the $46 is all tax-FREE. Yes, you have to pay tax on the $1 plus earnings now, but those with higher incomes see the enormous benefits and are going for it.
Conversions of deductible 401k or rollover IRA to a Roth IRA have increased 800% recently. Why? Each $1 you already put into those accounts could grow to $46 by retirement and if they were in a Roth, you would have 25-30% MORE because the $46 is all tax-FREE. Yes, you have to pay tax on the $1 plus earnings now, but those with higher incomes see the enormous benefits and are going for it.
Create the tax-FREE income you want: http://www.amazon.com/Lets-Do-Numbers-Creating-Retirement/dp/1502775522
What is the best way to transfer your pension when your job
is over?
If you are leaving your employer for another or for
self-employment, there are important benefits to consider. Your advisor/broker
may not know them all or may be receive a bonus for one way. Taxes are involved
too. SEC
regulators are concerned about advisors’ sales practices. Mistakes can cost
you. Look before you leap. Know the best for YOU. http://www.finra.org/Investors/ProtectYourself/InvestorAlerts/RetirementAccounts/P436001
Youth consult family and friends for financial advice
Members of Gen Y, those born between about 1980 and 2000,
are more likely to rely on personal connections for their financial advice than
older generations, according to a new TIAA-CREF
survey. They are more likely to value online tools and calculators (74
percent versus 57 present of the general population), seminars (68 percent
versus 53 percent) or webinars (67 percent versus 54 percent) as channels for
advice. They are more likely than the general population to involve their
parents (47 percent versus 19 percent), extended family (22 percent versus 14
percent) and other trusted adults (31 percent versus 21 percent) in their
search for advice.
They use Leah’s Money Book: http://www.amazon.com/Leahs-Money-Book-control-money/dp/1448654408
Social Security benefits up by 1.7%
Make sure your account benefit calculation is correct by
checking online. If you don’t have an account yet, create a personalized Social
Security accounts online at socialsecurity.gov/myaccount.
You can see your benefit information at any time. Make sure you will have
enough income when SS
benefits are reduced in 2033. Create your own tax-FREE income security: http://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle/dp/1466394285
I just saved $840 on my car insurance—made $840 an hour
When I got my auto renewal policy bill today, they had
raised my cost about $400. Last year they raised it by about $300. I decided to
shop for a new deal. It took me 1 hour to save $840 after entering my info at
two competitor’s online sites. One wanted $2,949 for a year. WOW. Another
insurer told me to wait 5 minutes for a phone rep. I hung up. My vehicles are
old—’98 and ’05, but I still carry collision and comprehensive. I don’t carry
their PIP medical since I have a good health policy and it pays first anyway. I
declined rental and towing and life insurance and disability just like before.
I charged it on my card and downloaded my policy and proof of insurance. The
new carrier is A++ and 2nd largest in US. In one hour I added $840
to my Wealth Reserve. http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X
Do you really need an advisor or broker to help with your
financials?
As a former manager of advisors and brokers at banks and
security firms, I see a change in the way you can obtain help. First, determine
how your salesperson gets paid. This helps you understand how they can help
you. All licensed staff work for firms that only offer products that provide
them with revenue. You
are offered what the firm sells NOT what you might need. Vanguard and
TIAA-CREF operate differently. Their products don’t pay commissions, so most
firms don’t sell their products, but you can.
In the last 30 years, products like low-cost mutual funds,
discount brokerage and useable information have become available to everyone.
Personal service can be obtained just for the asking. For instance, Vanguard
provides free or low-cost advice, brokerage and trustee services even for small
account customers.
Advisors that charge you by the hour may have lower-priced
products. Your employer’s pension plan is more likely to offer lower cost
products too. Costs are spread over your group so you pay less.
Also, you can now learn enough on your own to succeed by paying
less: http://www.amazon.com/The-Best-Predictor-Investment-Success/dp/1502524082
How much would a US
election cost you?
If you could buy an election (thanks to Supreme Court), how
much would it cost you? In the previous midterms, in 2010, the top
0.26% of donors gave 68% of all individual political contributions,
according to the nonpartisan Center for Responsive Politics. Much of that went
to GOP candidates. Tom Steyer, hedge fund croupier, spent $20 millions so far.
Bloomberg spent $11 mil and Uline owner, $5 mil.
These billionaires are NOT counting on alleged “voters with
fake IDs” either.
GOP crazies backed by Supremes agree to suppress vote
If you can’t win with centrist policies, keep 600,000 Dems
from voting. Supremes 5 old guys sided with voter suppression in TX. The law
sets out seven forms of approved ID — a list that includes concealed handgun
licenses ($150 credit card only) but not
college picture ID, which are accepted in other states with similar
measures. Dissenters called this decision "unconstitutional burden on the
right to vote" and the equivalent of a poll tax in finding that the Republican-led Texas Legislature
purposely discriminated against minority voters in Texas .
TX
has never found case of voter fraud.
Stephen F. Austin, Founder of Texas, would not been allowed to
vote in TX under this law. Voter fraud to change
outcome does NOT happen in US study finds.
DEM crazies
Cut budget by 7.6 Billion a year—jobs from greater
demand—lower income inequality
Raise the minimum wage to the same level as in Reagan’s
time—$10.10 per hour and take people off food stamps. That is the proposal DEMs
are making now and confirmed by the CBO—nonpartisan Congress
analyst. Can Congress vote on anything?
At Costco, hourly workers make an average of more than $20
an hour — well above the national average of $11.39 for a retail sales worker —
according to a 2013 Businessweek story. For employees who put in 40
hours per week, that works out to about $43,000 a year. In addition,
Businessweek reports that 88% of Costco's 185,000 employees have
company-sponsored health care.
Why doesn’t GOP see the facts—good pay equals more money to
buy equals more profit
Our hard-earned wages going to waste
Congress spent $25 billions of our taxes on stupid
projects while running up the deficit. According to the GAO, during a
three-year period more than 57,000 employees were placed on leave for 30 days
or more, costing taxpayers $775 million in salary alone. Pentagon to destroy $16 billion
in ammunition that it deems no longer useful at of cost of $1 billion just to
destroy the ammo. Both
Dems and GOP guilty of this despicable behavior. You won’t believe the
things they wasted our money on. Wastebook
2014
But they won’t fix our bridges and roads because Obama
proposed it.
Pope tries to move older churchmen
Francis warned bishops against what he called
"hostile rigidity" in their thinking on these topics, his
remarks earning a five-minute standing ovation. Catholic bishops rejected a landmark change Saturday in the rigid stance on
gays and divorcees, revealing enormous gaps within the church at the end of a
two-week meeting. The synod's
final statement failed to include remarkably conciliatory language
revealed a week ago that would have welcomed the "gifts and
qualities" of gay Catholics and called on pastors to "avoid any
language or behavior" that could discriminate against divorced Catholics.
Change is coming, Mr Scalia.
How much can you invest in your pension?
IRS announced (IR-2014-99) that you can now sock away $18,000 in 2015, up from 17,500 in your 401(k), 403(b), and most 457 plans. Employees over age 50 can add another $6,000. IRA limits remain at $5,500. The deduction is phased out if the couple’s income is between $183,000 and $193,000. The income limit for the saver’s tax credit ($1-2,000) is $61,000 for married couples filing jointly. Tax credit means you could reduce your taxes by $2,000 dollar for dollar.
IRS announced (IR-2014-99) that you can now sock away $18,000 in 2015, up from 17,500 in your 401(k), 403(b), and most 457 plans. Employees over age 50 can add another $6,000. IRA limits remain at $5,500. The deduction is phased out if the couple’s income is between $183,000 and $193,000. The income limit for the saver’s tax credit ($1-2,000) is $61,000 for married couples filing jointly. Tax credit means you could reduce your taxes by $2,000 dollar for dollar.
Use the legal IRS tax haven: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466
What does it cost to file a homeowner’s claim?
Insurers do not want to pay claims. If you file a small
claim, not only do you have to pay the deductible first, you may get a big new
premium bill next year. According to one study,
your state may allow an increase of 30% or no increase at all. Premiums in 37
states increased by an average of 10 percent after filing a single claim. "There's
a significant statistical correlation between making a claim and the likelihood
of making an additional claim in the future,” insurers say. They need to offset
the increased risk. Texas prohibits
insurers from increasing premiums for first-time claims. But according to Amy
Bach, executive director of the California-based nonprofit consumer advocacy
group United Policyholders, this
rationale doesn't hold water. "(There's a general feeling that) it's
completely unfair that an insurance company is free to raise your rates because
you had the gall to actually use your insurance," Bach says.
Make the claim decision the right way: http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870
Is keyless entry (phone) to your home right for you?
Does it make sense to you that people would want an electronic gadget guarding their home? Yet you can try it for $250 and the price of the phone. One device tested did not work. The testers did not ask the local burglar to give it a try so you don’t know if hackers could take your home like they do your ID, bank or computer.
Does it make sense to you that people would want an electronic gadget guarding their home? Yet you can try it for $250 and the price of the phone. One device tested did not work. The testers did not ask the local burglar to give it a try so you don’t know if hackers could take your home like they do your ID, bank or computer.
Please give me a break from the gadgets.
Airbags that might KILL you? http://www.mercurynews.com/business/ci_26778551/is-your-car-affected-by-air-bag-recall
SCAMS Why are
we still
paying $700 Billion a year for WWII
deployments?
We are paying for 164,253 of our active-duty armed personnel
to be in 150 countries around the world. We have about 50,000 in Japan Germany
Are we preparing for WWII again? There are 1,208,083[1] armed
personnel in the United States .
Our taxes pay for about HALF of the WORLD’s military expenditures
every year. We have wasted $398.6 billion
so far on the F-35 program—they can’t
fly safely.
We just can’t afford to pay for everyone else’s defenses
anymore.
Japan, Germany and S.
Korea can pay for their own defenses.
What business marketing has done to the language—“anonymous”
doesn’t mean anonymous now!
The Guardian
revealed that Whisper, an app that promises to “anonymously share your
thoughts and secrets”, is tracking its
users including some who have asked not to be followed and storing their
posts indefinitely while it trawls their messages to identify interesting
stories to promote itself in the media.
“That’s exactly the kind of deceptive practice that the FTC
should crack down on,” said Marc Rotenberg “It’s very important but there has
to be more transparency and accountability. Companies that offer anonymity
services should deliver them,” he said.
Check that debt collection scam before you pay their bill
Scammers use your public info to make a claim for past bills.
Don’t trust what they say or write. Get
proof. If they are legit, they must provide it by law. Scammers work by
intimidation and harassment.
UBS is sticking with its recommendations that some clients buy
risky Puerto Rico closed-end bond funds, despite hundreds of arbitration
claims by investors, says an internal document. A UBS AG unit will pay $5.2
million in a settlement with Puerto Rico 's financial
institutions regulator over the firm's practices involving sales of Puerto
Rico closed-end bond funds whose values later plunged.
Fines are not enough to keep clients safe.
Charlie Baker running for MA Gov gives donation to Christie
who has NJ teacher pension head give money to Baker’s management fund.
Isn’t that quid pro quo bribe?
Corporations spending BIG on TV to win
elections/propositions
In many states, TV ads are
defining the winners and losers at election time. Voters may not have the
true facts but now have their point of view thanks to big money.
Is your business easy prey for these common scams?
Based on a study of claims experience, insurers identified
the following four common crime schemes
in business:
1. Billing and Vendor Schemes - Employees set up
false vendor accounts and bill a company for non-existent parts or services.
2. Check Tampering Schemes - Employees use
company checks to pay themselves or reissue the company’s old outstanding checks
and alter the payee to themselves.
3. Payroll Schemes - Employees manipulate the
amount on their check, or create duplicates of their check to cash more than
once.
4. Expense Reimbursement Schemes - Employees
submit additional expenses that never occurred or were not of a business nature
and are then reimbursed for those bogus expenses.
Strengthen your process: http://www.insurancebroadcasting.com/news/Hanover-Insurance-2744441-1.html
IAN
41 Watchung Plaza, B242
973.746.2014
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