Will you inherit over an $11 million estate Tax-FREE?
Are you one of the lucky families that will inherit over $11
million estate tax-FREE?
Our Congress just voted to give a BIG tax break to the 5,000
wealthiest families. Repeal of the estate
tax would mean that the wealthy with over $11 million can create a family
dynasty. None of these wealthy people works on a farm or would lose their farm
if Obama vetoes the bill. We would lose $300 Billion in taxes and we must make
up. The 5,000 would still have $ millions after state
inheritance tax in some states.
If you don’t have over $11 million, use your IRS-approved
Tax-FREE account: http://www.amazon.com/Working-Millionaire-Tax-FREE-Self-insure-Self-fund/dp/1460945484
You can create a legacy for your family that is NEVER taxed
Your heirs have the option to keep building your legacy for
another generation. They can either roll your Roth IRA into their own Roth IRA
or cash out the account without penalty regardless of their age. Your
beneficiary can transfer your non-taxable
Roth IRA into their own account, if they do not need the money for
retirement. They can then designate the account for their beneficiary. This can
be repeated for each generation. If any heir doesn’t do the transfer, your
account needs to be distributed within five years of the death or paid out in
equal amounts over their lifetime.
Wealthy avoid taxes by NOT working
If you work, you pay taxes before you can buy food, housing
or anything else. Not so with the wealthy. Look back to the 2011 Romney
tax return shared by the candidate. Romney reported NO earned income. He
actually paid more tax than required so that he could claim he was not one of the
“47% of Americans who pay no income taxes. He called us “victims” who feel
entitled to government handouts.” But we pay 33% on average—more than double
his 14% rate.
Congress has reversed the American progressive tax system.
The wealthy pay a smaller percentage of their income than we do—14% vs 32%.
Pay your fair share: http://www.amazon.com/Tax-Shelter-Americans/dp/1500426520
Americans
Is an HSA right for you?
A Health Savings Account is tax-FREE money when it is combined
with a high-deductible health plan. The IRS defines HDHP as an annual
deductible of at least $1,250 per person or $2,500 family. Your HSA is
deductible even if you don't itemize deductions. The HSA is great if you don’t
have high health costs but a large deductible can prevent you from getting the
care you need. You can write
off $3,350 ($6,650 family) in HSA contributions on your federal income tax
for 2015, plus a $1,000 catch-up if you're 55 or over. HSA balances roll over
year to year so you could earn interest. Unlike an HSA, you must use an FSA by
yearend or lose it.
Is Free File tax prep right for you?
The number of taxpayers filing self-prepared returns
increased nearly 6 percent by the end of February according to the IRS. It has
authorized a number of online software firms to provide FREE tax prep help at http://www.irs.gov/uac/Free-File:-Do-Your-Federal-Taxes-for-Free.
The cost of commercial tax prep has increased with new ACA forms added this
year so you can save up to $500. And there are still organizations that can
help seniors and non-computer users. AARP offers in-person FREE file: http://www.aarp.org/applications/VMISLocator/taxAideLocations.action
Will the IRS keep your refund?
You may find a hole in your bank account if you were
spending your tax refund before it came. The IRS can take it for several
“worthy” causes: Delinquent student loans, ObamaCare penalty and/or subsidy, past-due
state income tax, past-due child support, etc. The Treasury's Bureau of Fiscal
Service, which actually issues refund checks, will inform you by letter of the
dirty details. If they made a mistake, dispute it. Hey, you never know.
You can turn your IRA required distribution into TAX-FREE
money
Many people work after age 67—the SS retirement age—and by
age 71 are receiving mandatory distributions from their IRAs, 401k, 403b
rollovers, and other pensions. These retirement funds were never taxed so Uncle
Sam wants to be paid. You can pay it and then never pay tax on the earnings
again. If you don’t need the money right now. You can send your RMD, as it is
called, to your low-cost mutual fund inside a Roth IRA. When you need the money
later, it and its earnings will be TAX-FREE. This will lower the income
taxes on your other taxable accounts and Social Security benefits. You pay less
tax overall with Tax-FREE income.
GOP crazies
Military spending
increase to $612 billion so we can prop up 3 Middle East
countries; and Japan ,
Germany and S.
Korea don’t have to pay for their own defense departments.
CUT $431 billion from Medicare.
Convert seniors to voucher-like
program.
CUT $236 billion from the budgets of non-defense agencies—fewer
people services.
CUT $1 trillion from food
stamps and welfare and repeal of
the Affordable Care Act.
CUT Medicaid $913
billion. Convert to state block grants to shift cost to states.
37 million people
would lose health insurance, doubling the ranks of the uninsured.
Obama says “failure to invest in education, infrastructure,
research and national defense.”
McCain says “not legitimate budgeting.”
Ken Buck, (R) CO says “It’s
all hooey.”
“I don’t know anyone
who believes we’re going to balance the budget in 10 years.”
GOP President-to-be claims he is Hispanic to gain votes or impress Miamians?
Jeb Bush admitted Monday that he
made a “mistake” in 2009 when he listed his ethnicity in a Miami-Dade
County March 6, 2009 .
Does Bush senior know Mrs Bush had a Hispanic son?
Can we see Jeb’s birth certificate? Is this another “oops, I
forgot” GOP moment? Did he serve in the “National Guard” like W claims?
NJ Gov gives Exxon a break
Master ‘negotiator’ Chris Christie accepts only $225
M instead of $9 Billion and then uses the money to fill his budget gap and
still can’t pay promised pension bill. Is this how the GOP will run the
government? He is losing his shouting match in the polls.
74% of us have never calculated our monthly retirement needs
Also, 51
percent of retirees have never tried to determine if their current savings
will be enough to last through retirement – though 39 percent assume what they
have will not last 20 years – grim statistics indeed.
You can have more income than you think: http://www.amazon.com/Lets-Do-The-Numbers-Retirement/dp/1502775522
Do you know what you pay your broker/advisor?
A significant number of investors are in the dark about the fees
they pay brokers, according to a new survey by a state regulator
association. While most brokers/advisors charge annual fees to manage accounts,
one-third of customers aren’t aware of the expenses, according to the survey by
NASAA. The industry makes it hard to find the costs because they take as
much as 63%
of our retirement money in fees.
Wealth Without Wall Street: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137
Long-term care insurance at risk
Genworth is weighing a breakup after steep losses on
policies covering long- term medical
care. GE is dumping its financial units so policy owners must contend with
rising premiums and underwriting standards. Current owners may have some
protection from state insurance funds. Future owners may be better off using
alternatives.
Consider the alternatives: http://www.amazon.com/Long-term-Care-Insurance-Updated-Edition/dp/148274001X
Students lose coverage while in school
Some universities that provide health insurance to their
students are stopping the practice, as they say the Affordable Care Act’s
minimal essential health benefits requirements have led to unsustainable cost
increases. Those that remain are turning to their brokers to determine the best
way to continue offering coverage to their students.
SCAMS Why are
we still
paying $700 Billion a year for WWII
deployments? That is 27
cents of each dollar in taxes—the largest part of our money—and we aren’t
even at war. We could pay off our debts and fix our schools, roads and
bridges!
We are paying for 164,253 of our active-duty armed personnel
to be in 150 countries around the world. We have about 50,000 in Japan Germany
Are we preparing for WWII again? There are 1,208,083[1] armed
personnel in the United States .
Our taxes pay for about HALF of the WORLD’s military expenditures
every year. We have wasted $398.6 billion
so far on the F-35 program—they can’t
fly safely.
We just can’t afford to pay for everyone else’s defenses
anymore.
Japan, Germany and S.
Korea can pay to defend themselves.
The War
on Terror requires SEALS’ attacks on top terrorists at their homes. Iraq
proved converting a nation to Western-style republic doesn’t work. The troops
we trained ran away. We are wasting
$4 billion a year on Afgan
tribal rivalries; paying ransom to Al Qaeda; supporting corruption with our
money.
LPL Accused Of
Improper REIT Sales By NH Regulators
LPL settled a similar case with the FIRA paying $950,000 for
supervisory lapses in the sale of direct
investments. In December 2012, LPL paid $2.6 million to settle a Massachusetts
case involving improper sale of nontraded REITs. Last year, LPL’s top
executives saw their bonuses drop, due in part to the adverse impact of
regulatory charges. No one was fired or jailed. Will they do it again?
Wall St Banks need bailout by US for bets on oil prices
The same ‘players’ insured the oil drillers that prices
would not fall. Now they
must pay $26 billion. When they claim they nave no money, we will pay because
Congress lets banks gamble with our money.
IAN
41 Watchung Plaza, B242
973.746.2014
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