There is no doubt we are in unique times and uncharted territory! To put this into context, over 47 million people voluntarily quit their jobs in 2021. In total, 68.9 million either quit, were laid off, or were discharged. According to the Bureau of Labor Statistics, in December 2021 alone, 4.3 million Americans quit their jobs, down slightly from the…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 →
When we were founded in the 1700’s there were very few taxes at all! Up until 1802, the USA was mainly supported by taxes on goods like tobacco, sugar, and spirits. War is what initiated the need for funds and taxes. War of 1812: A sales tax was first introduced in 1812 to cover war costs. 1862, middle of the…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 →
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 →
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