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 →
There is an old saying, “Ignorance is Bliss!” My new saying during this Covid-19 era is “Ignorance is Super-Expensive!” In my 30-year career, I have never seen more advisor ignorance and malpractice. Keep this in consideration if this is the first you are hearing about this. There have been MAJOR CHANGES in tax deadlines and proposed changes in tax, gifting,…read more →
On Thursday, March 11th, President Joe Biden signed The American Rescue Plan into law almost a year to the day when it was acknowledged that Covid-19 had hit the USA, and it was deadly! This is the 3rd stimulus program since the pandemic has begun, and the question on most people’s minds is “Where is My $1,400 Check?” This third…read more →
Whether you are an individual and/or business owner, the following 5 tips can save you money in 2019! Maximize 401K deductions for 2019: Unlike IRA’s and SEP’s, 401K contributions can only be deducted in the tax year they are deposited. Taxpayers should check their pay stubs to make sure they are maximizing their 401k limit which is $19,000 for 2019….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 →
Other than folks who receive an annual bonus this is the only time of year when some people will receive a lump sum of money. Instead of squandering your money consider the following options: Add to your IRA: you can contribute up to $5,500/year to a traditional and/or Roth IRA or $6,500 if you are 50 or older by the…read more →
Following these 5 tips can save you money in 2016! Whether you are an individual and/or business owner, the following 5 tips can save you money in 2016! Maximize 401K deductions for 2016: Unlike IRA’s and SEP’s, 401K contributions can only be deducted in the tax year they are deposited. Taxpayers should check their pay stubs to make sure they…read more →
Recent Comments