Avoid paying for the wealthy Tax Cuts in the future
One way of making sure you can lower your taxes in the
future is to operate a small business. The new pass-through entity tax is 25%.
If you can take
your income as revenue to your business—a DBA or LLC—you can avoid the
higher rates. If your other income puts you in the 22 or 12% bracket, great. You
can also share your expenses with your deductible business—car, meals, miscellaneous
expenses, property, state income and sales taxes, job expenses, uniforms, dues,
subscriptions, use of home, tax prep, supplies,
insurance, licenses, etc. on https://www.irs.gov/pub/irs-pdf/f1040sc.pdf.
If you end up with a loss some years, so be it—that negative
reduces your 1040 income. Use a business to control your taxes like the Trump’s
tax-credit class: https://www.amazon.com/Your-Tax-FREE-Account-IRS-approved-shelter/dp/153735292X
Buffett's SIMPLE Strategy Beats
Wall Street
The Master of investing, Warren Buffett, proved it, again.
You do not need Wall Street 'professionals' to reach your financial goals. In
fact, if you use them, you may give up 63%
of your potential accumulations because of trading, charges, commissions and
fees.
Buffett
made a bet with a hedge fund manager for $1 million 10 years ago. Buffett's
strategy earned over 7% a year versus 2.2% for Wall Street's best and
brightest. So there is no reason to pay a sales person working for a Wall
Street firm to invest for you. The costs over time destroy your account
success.
Buffett
advocates a simple low-cost strategy: Buy the stock market index in a fund like
Vanguard's 500 Index. Invest in the market
returns consistently and you will do better than everyone you know. Over
the long term, your returns would average over 11% per year. DALBAR
keeps track of returns and found that the average
managed-account equity investor earned just 3.79% a year over 30 years
ended 2014. The benchmark returned 11.06%.
Also note,
since 1997 we have been able to invest for the long term without paying
ANY taxes on the gains. In the past, we had to pay for gains in our
401k, IRA and pensions in retirement. We can avoid the charges to start and
maintain these tax-advantaged accounts too. Earnings are FREE after age 59 ½. That
can mean tax-FREE retirement income.
Earn 11% a year with Buffett’s strategy: https://www.amazon.com/MasterClass-Buffetts-SIMPLE-Strategy/dp/1983485268
GOP plans to win in 2018 by nullifying voters’ rights
OH GOP has been
removing citizens from voter lists for years in an effort to make sure one
party wins all the elections. GOP claims voter fraud is rampant even though
study after study shows this is a lie. The U.S. Supreme Court will review an Ohio procedure that removes voters
from the rolls if they haven’t cast a ballot in six years and fail to return a
postcard. A 2002 law forbids states from removing registered voters from the
rolls for simply not voting. At issue is the claim that GOP’s purge wrongly
targets disadvantaged Ohioans for disenfranchisement. In ND, native
Americans sue over state ID requirement since difficult to obtain. Trump
has canceled his trumped
up case for widespread voter fraud—now Bannon lost mind. Other
states run by the GOP are dismantalling poling places and voting times.
Studies
show no voter fraud. State GOP efforts are funded by the Koch political
arm.
A few reasons to be grateful this holiday season: America
is GREAT already!
See specific numbers for your own age at Your Life in Numbers.
- In
1966, average life expectancy
was only 56 years. Today it’s 72. That’s an increase of 29 percent.
- Out of
every 1,000 infants born, 113 died before their first birthday. Today,
only 32 die. That’s a reduction of 72 percent.
- Median income per person rose from
around $6,000 to around $16,000, or by 167 percent – and that’s adjusted
for inflation and purchasing power.
- The food supply rose from about 2,300
calories per person per day to over 2,800 calories, an increase of 22
percent, thus reducing hunger.
- The
length of schooling that a
person could typically expect to receive was 3.9 years. Today, it’s 8.4
years – a 115 percent increase.
§
The world has become less authoritarian, with the level of democracy rising from -0.97
to 4.23 on a scale from -10 to 10. That’s an improvement of 5.2 points.
Happy Holiday
Happy Holiday Happy Holiday
Is your advisor honest?
Your ‘advisor’ is a salesperson first and foremost. They
would not have a job otherwise. Contrary to the Wall Street hype, your ‘advisor’
has no special information. The firm they work for may not be honest. Recently Citigroup
caught
using “buy” instead of “sell” or no ratings and clients lost $ millions.
Citigroup is not the Stratton Oakmont firm from the Wolf of Wall Street but Citi
proves you need a 2nd opinion when you consult financial help. You
need to know enough to “trust but verify.”
VERIFY every claim they make.
The most successful Wall Street executives are NOT traders.
They do NOT try to time the market. They have learned the lessons of the
financial legends: “The stock market is a device for transferring money from
the impatient to the patient,”
Warren Buffett said.
In fact, the average
managed-account equity investor earned just 3.79% a year over 30 years! A
simple index fund earned 11%. Buffett, perhaps the greatest investor of all
time, with 60 years experience, boils down the stock market to patience.
Mr Buffett's strategy of
patience is the most successful. He earns about 20% a year compounded over
time. He does NOT buy and sell stocks frequently. In other words, he does the
opposite of what Wall Street 'advises' us to do. Wall Street is a sales
industry not an advice industry.
Do we ask a barber if we need a haircut?
The SWEET part of the tax cut
bat
“You all just got a lot
richer,” Trump boasted to members of Mar-a-Lago on Dec. 22, according to CBS. The reason Trump’s co-billionaires are so
happy with the GOP is a new deduction for their LLCs. The new deduction allows
people with pass-through income — profits from a partnership or sole
proprietorship, for instance — to write
off 20% of that income before calculating their taxes. Think of it! Trump owns
more than 500 large, pass-through real estate firms like his golf clubs and
hotels — just the type of business that would qualify most easily. Certain
restrictions apply for professionals who are NOT employees of their businesses
but for anyone with a part-time job and not receiving employee benefits, keep
20% off the top. For a closely held business that operates now as an S corp, it
should consider switching to C corp due to the cut in the corporate tax rate. With
the change in estate tax, a family with assets around $20 million has to think
carefully about whether they want to make gifts now, with no step-up in basis
at death, or whether they want to hold assets until death, with a free step-up
in basis.
Use your own tax haven: https://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441
What can you do if you expect
your taxes to go up in 2018?
Many in the blue states need
to plan for their GOP increase in federal taxes due to the repeal of or limit
on their deductions and exemptions. If you used to deduct over $10,000 in
property and state income taxes, you may find you will owe more tax in 2018.
There is a penalty
for underpaying your taxes so you might want to increase your withholding
by DECREASING your allowances on a W-4 at work and/or having
Social Security withhold 7, 10, 15, or 25% from your benefits each month on W-4V. Sign the form and
return it to your local Social
Security office by mail or in person. If you find you have no
deductions to offset your increased tax liability in 2018, you can send the IRS
estimated tax payments using form 1040 ES:
https://www.irs.gov/pub/irs-pdf/f1040es.pdf.
Avoid GOP tax increase: https://www.amazon.com/Tax-Credit-Class-use-your-credits-ZERO/dp/1539462382
Do you need a reliable
vehicle?
Consumer Reports cites 10 vehicles that you can count on. Toyota
and its Lexus are on the list again. Korean cars are most improved followed
by American name brands. Today all cars are made all around the world. In fact,
some foreigners have more American work/parts than the American names. JD
Power illustrates the myths of vehicle reliability. Most new updates have
problems that take time to work out. So many wealthy folks go for the lightly
used luxury models after CR and JD
reports how owners faired. Sometimes the lack of hype works to your
advantage by leaving many new cars on the lot in the Fall when the new arrive.
Research is much easier today. Shop online (50 mi radius) for what you want and
perhaps the dealer will go get it for you. Beware 10 worst: https://www.cheatsheet.com/automobiles/consumer-reports-worst-cars-2017.html/2/
Shop for insurance discounts
too: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634
Who can you claim as
deduction/exemption on your IRS forms?
Many tax filers miss a larger
refund because their tax preparer miss classifies people they support. Your
grandma in Canada Mexico
BEWARE: Trump watered down
health insurance coverage
When you buy a policy outside
of the subsidized ObamaCare ACA site, you might be getting limited coverage. Trump
changed regs to let “junk” insurance be sold by any insurer. Lowering the
price by “removing undue restrictions” like pregnancy cover, drugs,
emergency room, and preventive screening (breast cancer screen $600) may
require you file bankruptcy like before 2010. Ask which of the 10
Obama essential coverages you are giving up and plan accordingly. Opium
rehab can now be excluded from a policy and rates for pre-existing conditions
are raised.
Buy only what you need: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083
****************
TrumpWorld
“I have absolute
right to do what I want to do with the Justice Department,”
Trump enforcers lie
re: contacts
to Putin and list longer: Why all the lies if innocent?
Mandate: ‘I was
elected President’ like Washington, Obama and Hitler
Bannon and I wish to
“destroy the
state”–our government.
Trump is still just a mafia contractor from Queens—Dad
taught him to be The Don.
Smoking gun: “Our boy can become
president of the USA and
we can engineer it,” Sater wrote in an email to lawyer Cohen. “I will get all
of Putins team to buy in on
this.” Manafort tells Russian mob he will keep them
informed about “our boy.”
Ross, Commerce, direct link to Putin energy
consortium and Russia-Cyprus bank
Putin sent 60 money wires to US marked “to finance election campaign of 2016.”
LOCK ‘EM UP--Mueller draining the swamp!—Everyone gets
pardon!
Papadopoulos rolls: Trump-Putin liaison pleads guilty.
Manafort rolls: Trump’s money launderer manager
indicted: conspiracy against US.
Flynn rolls: Trump’s national security advisor and
foreign agent pleads guilty to lying. “my actions were wrong” "if I
did a tenth of what she [Clinton ]
did, I'd be in jail today.” I am not a traitor. Right, but he also said he
never talked to Russia Russia and
said was not paid by Turkey
McFarland (“If there is a
tit-for-tat escalation, Trump will have difficulty improving relations
with Russia which has just thrown U.S.A.
election to him.”)
Regulation is necessary: We need protection. Saves $12
billion of our money!
(No one person can afford to sue a bank:
class actions banned by GOP now.)
Citigroup caught
using “buy” instead of “sell,” no ratings so clients lost $6 million.
Trump
ending protection against another 2007-8 bank failure and broker
overcharging
Trump freezing Fed hiring and pay to cover his tax cuts to
billionaires.
Trump ending enforcement for occupational safety issues.
Your Mazerati has fuel
leak with prices starting at $105,600 should have none.
Police need Caller ID:
Kill
by Remote: “Bomb threats are more fun and cooler than swats in my opinion
and I should have just stuck to that,” Swautistic told
reporter Brian Krebs on Friday. “But I began making $ doing some swat
requests.” Dead man is target of feuding videogamers!
Another special person dead—“guns don’t kill people” for
fun. Is your wife next?
‘Ministry of Truth’ 1984 novel:
Government propaganda is ‘truth’ when they say it!
Trump lies
even when he does not need to or when it does not help him—Psychotic?
WH mass delusion: "The president,” Sanders told
reporters, “believes in making
sure that information is accurate before pushing it out as fact..."
My Theory on Trump -- Putin ‘love’:
Trump got Russian help/funding for business from business/mob ties to Putin. US banks
not interested in more bankruptcies. No one expected
him to win so no harm getting Putin help. Don owes Vlad’s mob money so
they sent mob gofer Manafort to run the
campaign. The conduit is Deutch Bank. ‘Colluding’ Putin style. Trump
always has a fall guy to blame when caught in lie.
Sessions claims campaign execs all too inept and overwhelmed to collude on
purpose.
Putin
gives The Don a big kiss—first name basis—Don made markets hum
TrumpWorld – using presidency to make money the old
fashioned way: theft
President’s coin ‘13 original states and motto’ & “E
pluribus unum”gone: DJT 3 times.
Tillerson Exxon calls Trump a ‘f__king moron” ‘MORON’
and LIAR:
McMaster, National security adviser: Trump has intelligence of a “kindergartner”
“If Bannon does think Trump Jr. committed treason —
or something short of that — perhaps he simply wants to put himself as far as
possible from how the broader Russia
investigation might view that meeting with a Russian lawyer. Bannon's name has
been conspicuously missing from many of the developments in the Russia probe …
but he's expected to be a key witness given his high-ranking roles[.]”
Dictator talk time:
“When the president does it, that means it is not illegal,” Richard Nixon
Is this the end of American
democracy: "no man [woman] is above the law"
“I have absolute right to do what I want to do with the
Justice Department,” Trump Says He Has An 'Absolute Right' To Control The Justice
Department. Hitler did
too.
Trump” not
ready ‘YET’ to give Flynn his pardon for conspiracy against US
Banned words -- Burning
books next?
Fire
& Furry gossip Trump sues to stop. Trump goes to court to ban
a book about his presidency and his attitudes.
"It's worse than you can imagine. An idiot surrounded
by clowns. Trump won't read anything.” Fox TV is main source of tweets. McDonald’s
to avoid poisoning.
Trump’s Disease Control has banned
words he does not like as if disease disappears
So Trump like Putin is a dictator.
Trump is no longer claiming Russia just fake news—collusion/conspiracy
real—but he can do it because he is prez, they say.
Trump storm troops arrest people who look like immigrants.
How do you prove you are citizen? ICE acts like Gestapo: no record if you’re taken. No calls to family allowed. Kidnap
immigrants dropping kids off or in court for ticket.
Make American ‘Conservative-White’ Again
Trump
packing in young Scalia-type judges to kill abortion, liberal rights across
US.
Obama: we must protect
democracy from Nazi-style dictatorship—vigilance and press
I can never be wrong: “The reason I
originally endorsed Luther Strange (and his numbers went up mightily), is that
I said Roy Moore will not be able to win the General Election.
I was right! Roy
“The president can’t have a
conflict of interest.” The Don is above the law?
Fires FBI head because he was investigating The Don’s Russia mob
ties then blames FBI.
Fear is a ruler’s weapon: “Media
is America’s enemy” but 1st
amendment still US law.
Ideology can justify any policy: At RedState,
there has always been one hard and fast rule: Oppose abortion at all costs.
Christian Right is not Christianity but ideology.
Today child molester; tomorrow rapists? How GOP religionists justify crimes of the Fuehrer and
followers. He can pardon every crime.
1998 the House of Representatives approves two articles
of impeachment against
President Bill Clinton, charging him
with lying under oath to a federal
grand jury and obstructing justice.
2017 Nov. House of Representatives introduced articles
of impeachment against President
Don Trump, charging him with firing FBI Comey, violations of the Emoluments
Clause, actions "undermining" the judiciary and freedom of the press.
2018 the House of Representatives approves two articles
of impeachment against President
Don Trump, charging him with lying under oath and obstructing justice. Trump was
told that Flynn lied to FBI so he commanded Comey to drop it. Lied on TV about
why he fired Flynn. Fired Comey to end inquiry on Trump’s conspiracy with
foreign power to destroy lawful election admitted on TV. Fired NY AG who was
investigating his laundering Putin money via real estate.
TX Rep Al Green’s Articles of Impeachment failed Dec2017.
WWIII next?
Quid pro quo: "something for something."
Nursing
home fines for abuse ended so owners can’t lose Medicaid funding
We have given The Don time to act like president: Time to Impeach for
obstructing FBI
How Govt wastes our
money:
Corporate subsidies AFTER ‘tax overhaul’: $6 billion for sugar
processors, $1 billion for dairy, $800 million for marketing to foreigners,
$370 million for peanut corps, $650 million for manufacturer’s consultants,
$2.5 billion for F-35 problem fixes, $1.2 billion to subsidize southern power,
$1 billion for TVA parks etc, and thousands more.
SCAMS:
Jobs:
Best Benefits Companies: 20 for 2nd look: https://www.cnbc.com/2017/05/03/the-20-best-companies-for-work-life-balance.html
Who owns your account
now?
Voya
annuities to Apollo Crestview and Reverence Capital
Miracle:
IAN
41 Watchung Plaza, B242
973.746.2014
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