Wealthy avoid tax by ‘ignoring’ rising asset values
You can reduce taxes on your illiquid assets when you sell
them by ignoring
their increased value or by using the “right” appraiser. Let’s say I bought
a painting for $500 some time ago and I need to sell it for current obligations.
I find an appraiser who values it at $1000. My gain is $500 and my tax
is $140. I sell it to another collector for $50,000. I save $13,860. That’s a
10,000% profit. Wealthy people own many assets that only carry value in the
“eye of the beholder”—art, land, buildings, jewels, old cars, and furniture.
Avoid capital gains taxes legally on all your capital: http://www.amazon.com/Tax-FREE-Wealth-How-laws-free/dp/1475089236
What are you supposed to do with your ObamaCare ACA 1095 forms?
Obama brought health insurance to millions for the first
time. You need to use the new forms to do your taxes even if you would not have
to file before. The purpose of the forms is to establish that you bought or
received coverage, you have an exception to premium tax or a credit for the
tax. 1095-A compares what you bought
on the Exchanges to what Obama thought was affordable. 1095-B confirms you have
insurance. 1095-C
conforms your employer paid for coverage. Your tax preparer will use the
forms to determine if you owe the tax “shared responsibility payment” or
receive a credit for paying more than your fair share. ObamaCare was modeled on
Romney’s MA health plan and was created by the GOP Heritage Foundation. http://americablog.com/2013/10/original-1989-document-heritage-foundation-created-obamacares-individual-mandate.html
Most developed nations provide health care to their
citizens. Most working people realize they need coverage, like clean air, water
and power. ACA is NOT being repealed.
Banks caught misleading investors, again
Banks can’t be trusted until bankers take responsibility for
actions. “If behavior doesn’t change, banks
will not be trusted and they won’t be efficient in their financing of the
real economy,” one observer said. Barclays, Credit
Suisse found cheating investors. But bank stockholders actually pay
the $150 million fines so bankers
continue to break the law and avoid jail. Investors have little opportunity
to learn about bank manipulation of market data in order to avoid it.
Regulators can’t change behavior unless violators suffer consequences for bad
acts. Regulators and prosecutors are governed by Congress which relies on bank
donations. No matter who is president, Congress people like this money.
Avoid the Pimps: http://www.amazon.com/The-Pimps-Wall-Street-middlemen/dp/151525254X
BEWARE: Which cars lose the most value as soon as you buy
them?
In the FIRST year,
the BIG losers, according to Forbes,
are Cadillac CTS lose 34%, Kia Optima lose 35%, Mitsubishi Lancer lose 35%, Chevrolet
Express lose 37%, Volkswagen Beetle lose 37%, Kia Cadenza lose 37%, Chevrolet Camaro lose 39%,
Mercedes-Benz SL-Class lose 41%, Dodge Charger lose 45%, Nissan Leaf lose 48%.
Chose VALUE—Quality at the right price—not
hype. Same goes for mutual funds, annuities, insurance.
Low-cost beats high cost: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X
How LONG will you need your investments to provide income?
Economists
are now questioning Wall Street’s typical advice to reduce your stock
exposure as you age. Your broker/advisor still thinks you will die
broke, at age 80. Even Vanguard and Fidelity tell you to hold more bonds
than stocks by age 65. Luckily, more DIY independent investors who manage their
own portfolios act differently. They hold 75% in stocks through their 80s. See
chart. Why? Baby Boomers have always “known” they are different than past
generations. They
live longer. They don’t listen to authorities well. They don’t want to live
on 2% bond yields when they can get 10-12% from stocks. They may need more health care dollars than their
parents later in life. They like working—playing golf 24/7 is boring. They have
plans for their heirs. They make their own WAY! They use ALL the tools not just
Wall Street’s products.
Create your own tax-FREE
financial system: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466
Is a “managed account” in your 401k right for you?
Fidelity and other ‘for-profit’ money managers are pushing
this high-cost account on employers claiming it helps employees weather market
swings. However, employer’s glee needs a correction since employers don’t have
to pay for this added drag on retirement accumulations. Paying more every
year will reduce your total nest egg. Many studies independent of ‘for-profit’
managers show that COST
is the best predictor of retirement cash success. Employers claim the
benefit of “professional” help makes it easier for employees to resist making
mistakes. But unbiased advisors have shown that the extra cost (1.7% plus fund
.7 %) can reduce the long term accumulation by 63%. You could have earned
$500,000 but you only receive $185,000. Take Buffett’s advice:
Does our President need to be smart and truthful?
Do
they even care about truth?
Trump: Tax
plan increases income to rich and costs $10 T over 10 years.
Jeb: Let’s
nuke ‘em before they nuke us. Voters just don’t understand my destiny.
Kasich: Cut
funds for PlandedParentd just before SC to prove religion creds.
Cruz: VP to Trump for GOP religion vote? But uses
porn star for ads.
Christie: Finally, I can go home to face BridgeGate suit and
bully Jerseyians again.
(We are
tired of him too but we have years to go.)
Fiorina: I guess
voters in NH didn’t see my fake tape of PP killing children for profit!
Sanders: Plan for $0
deductibles/co-pays: health care is right not luxury. Gen/Color Gap!
He beat Clinton
GOP Supremes kill Dem’s climate policy—Pollution Wins!
In an unprecedented move, 5 old republicans
rule for Big Coal allowing more carbon pollution. The plan could cut
emissions from existing power plants by a third by 2030 by closing hundreds of
heavily polluting coal-fired plants and increasing production of wind
and solar power. Eighteen states said they were “continuing to
experience climate-change harms firsthand — including increased flooding, more
severe storms, wildfires and droughts.” Those harms are “lasting and
irreversible,” they said, and “any stay that results in further delay in
emissions reductions would compound the harms.”
Climate changes: In 20 years, seniors will ask why did the gov let air become polluted to cause cancer and flood out my beachfront property!
Climate changes: In 20 years, seniors will ask why did the gov let air become polluted to cause cancer and flood out my beachfront property!
KS GOP (Koch) voted to control the state Supreme Court
elections
Gov
passed law defunding Supremes to force decision on school funding. GOP
wants to pick the Supremes not elect them. WI did this in 2000 and it is prime
example of the worst aspects of money in politics. The legislature and the
governor made a law that stripped the State Supreme Court of administrative
power over lower state courts. And then to pass and sign another law that
stripped the state’s entire court system of funding if any court struck down
any part of the previous law.
“The New Politics of Judicial Elections” focused on
state-supreme-court races in the last presidential cycle and concluded “special
interests seek to install judges who will answer to them instead of the
law and the Constitution.”
Regulators are the only protection we have since we
can’t sue anymore
“It
is nearly
impossible for one individual to take on a corporation with vast resources.”
(GOP bill requires impossible: every person in class
action suffer “same type and scope of injury”)
Supremes
stop us from suing—State courts no longer available to sue corporations!
DC
pays young offenders to quit crime—positive programs for pay—cheaper than
jail.
Supremes halt air pollution regulations and allow more coal
to pollute air.
Fiat recalls 505,000 2011-16 Dodge
Chargers—fall off tire jacks since frame bends.
GM recalls 473,000 trucks/SUV—brake
pedal bolt needs more glue to stay on.
VW recalls 680,000
cars—Takata air bag.
MB recalls 840,000
cars—Takata air bag.
Scott
Tucker, race driver, caught defrauding poor in payday loan rip-offs of 700%
rates.
MI gov will NOT pay to replace Flint ’s
lead pipes this year.
We need regulation—GOP is wrong—companies/cities
wouldnt fix bad products on own
How our government wastes our money
Cliven Bundy,
rancher who owes US $1 million—still has not paid fees.
GOP
leader says avoid budget decisions by not having a budget at all. Just
spend!
SCAMS
Vatican
refused to sack priest convicted of child sex abuse, Spotlight
–pope ignores it. Vatican
to forgive BIG sins and let child abusers go to heaven. NO jail time.
Moazzam “Mark” Malik, American Bridge Investment Group stole
$1million. Jail?
IRS hacked--inspector
general found that computer used to
detect ID theft was hackable.
IAN
41 Watchung Plaza, B242
973.746.2014
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