Sample small matters, financial planning and tax services

Posted Leave a commentPosted in Accounting, Financial Planning, Taxes

This is a sample high-value agreement for ‘piecemeal’ or small matter individual and small business financial, accounting and tax services performed outside of an agreement for comprehensive or ongoing services. The agreement incorporates cost-saving technologies and procedures to save time and money while maintaining a high level of professional service (revised September 6, 2018).  Contents: […]

Fast Facts about the US economy

Posted Leave a commentPosted in Financial Planning, News and Politics, Taxes

A few rich politicians are touting the “miracle economy” and unfortunately this propaganda is effective in fooling some people. Here is the real story for average Americans: REAL EARNINGS ARE GOING DOWN FOR MOST PEOPLE. We earn less than we used to when measured as purchasing power. We’ve had the greatest drop in real wages […]

20 Easy Benefit Plan Boosts

Posted Leave a commentPosted in Employee Benefits, Financial Planning, Small Business

20 Simple and Inexpensive Things You Can Do to Improve Your Firm’s Employee Benefit Plan   There are likely plenty of easy ways to make your employee benefit plan dollars go further: Host an occasional, informal and voluntary on-site meeting where employees can ask an independent adviser questions about their benefits. Host occasional, informal and […]

Biggest tax news of the year: 30 million will owe IRS this spring

Posted Leave a commentPosted in Financial Planning, Tax Planning, Taxes

The biggest tax news of the year came out buried inside the pages of a report issued last month by the General Accounting Office. I call this the ‘biggest news’ because it adversely affects almost 30 million people. The people most likely to be affected are upper middle income taxpayers – in other words, my […]

Legal impact of residency and domicile

Posted Leave a commentPosted in Banking, Financial Planning, Legal, Taxes

Taxes and a wide range of other legal and business issues are affected by the legal concepts of residency and domicile. Individuals who have physical connections to more than one state should carefully consider the implications of the laws in each state that may claim jurisdiction of any legal or business issue. In some cases it […]

Invest Like a Venture Capitalist

Posted Leave a commentPosted in aquaculture, Banking, Crowdfunding, Farming, Financial Planning, Tax Planning

One of the most overlooked tax savings strategies is to avoid federal income taxes on large capital gains. Allowing investments to grow tax free over decades can result in tremendous growth in wealth. This is the tax strategy employed by almost all venture capitalists but is still relatively unknown by individual investors. Our federal tax […]

The new state health insurance mandates – why this is the most important financial planning issue today

Posted Leave a commentPosted in Affordable Care Act, Financial Planning, Taxes

So far three states – New Jersey, Massachusetts and Vermont – have passed laws that add a health insurance mandate with tax penalty for not having coverage. The new laws kick in when the federal insurance mandate law expires in 2019. Other states are considering similar laws. Some things are not clear yet: – what […]

What Does the Omnibus Spending Law Mean to Me?

Posted Leave a commentPosted in Financial Planning, Financing, News and Politics

It is not possible to analyze a massive 2,232 page $1.3 Trillion dollar federal law within a matter of hours after its passage. (This is a terrible way to handle major legislation, but that shame on Ryan and crew is a whole different topic). Yet this new federal spending bill is likely to have more […]

What the heck is a 501(k) plan?

Posted 4 CommentsPosted in Financial Planning, Retirement, Tax Planning

The financial services industry has a long history of creating new marketing terms to help sell its products. Certainly this is a productive and useful part of consumer financial service communications. The latest term gathering attention is a “501(k) plan”. The increased use of this term coincides with marketing of an already existing alternate tool […]