The Federal Open Market Committee or FOMC is the Federal Reserve’s monetary policymaking body. It is responsible for the formulation of a policy designed to promote stable prices and economic growth. Simply put, the FOMC manages the nation’s money supply! The Federal Open Market Committee (FOMC) holds eight regularly scheduled meetings (usually every six weeks) during the year. Last month,…read more →
One thing this pandemic has done is flush out poor advisors, as there is no hiding during Covid-19. CPAs, Attorneys, Insurance Advisors, Stockbrokers and Financial Planners should be well-aware of the latest Covid-19 updates, income tax and estate tax rule changes to properly advise their clientele. I have been on many Zoom Panels, Seminars, Workshops, and Podcasts over the last…read more →
Last week we talked about 4 ways to tap into the cash of your life insurance policy. This week, we are taking it to the next level and will outline ways to exchange (or rollover) an existing annuity, life insurance or endowment policy for a better policy whilst deferring tax on the transaction. Since President Biden has proposed increasing capital…read more →
Now that we are in the first quarter of 2020 it’s easy to get off track from our goals. Follow these 6 tips and with a little time and effort your 2020 finances will be more organized and less stressful. Organize your paperwork: It’s hard to feel in control when you can’t find anything. Gather all papers, shred duplicates/old statements…read more →
Not only is credit a key factor in securing loans, potential employers may review an applicant’s credit and it’s also used to determine auto and homeowners insurance rates you pay. Don’t close old accounts: While this may seem counterintuitive, closing a card may negatively impact your credit. It reduces your credit-to-debt ratio and credit history which lower scores. Ask for…read more →
Six out of ten American’s will make some type of financial based new year’s resolution for 2019. Usually, there’s a triggering event like receiving your December 2018 credit card bill or spousal pressure to name two. Follow these tips: Consolidate Financial accounts: Close 1 or 2 existing financial accounts that you are not tracking or have insignificant monies in. This…read more →
Right now the Mega Millions lottery is up to $1.6 Billion! Take a look at these tips to not let winning the lottery ruin your life. Take the annual installments: Why pay Uncle Sam up front? Hire a good estate lawyer: Wills and trusts will need to be drafted immediately. Stay anonymous as long as possible: There will be lines…read more →
Insurance brokers and agents are trusted with fitting their clients into suitable life, health, homeowners & business policies to name a few. There are numerous insurance providers and they are not all the same. It’s important that the broker you choose is well-versed in policy differences from company to company and informed of the latest news, trends, and products. He/she…read more →
The Trump Tax bill has affected individuals and businesses both in the USA and abroad. It’s still being dissected. Check out these facts: Eliminates health ins tax penalty in 2019: The 12/22/2017 tax bill signed into law eliminates the tax penalty for individuals who fail to maintain (MEC) minimum essential coverages as of 1/1/2019. The Employer Mandate still applies: Applicable…read more →
Many seniors are creatures of habit and are holding onto their large life insurance policies with expensive premiums that they may no longer need or afford. Based on the new Tax Law Reform, 2018 could be the best time to sell their policy. The Estate Tax has been increased: The tax exemption has been raised to $11,200,000 per person, $22,400,000…read more →
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