Increasing your tax refund—Uncle Sam pays you to work and save
How can you increase your refund is a question I get
when I do taxes as an AARP volunteer. First, the best way to increase your
refund is to run a small business. Every expense you have remotely connected to
that business is deductible and losses subtract from income. Example: Trump’s
clothing and his clubs in FL and NJ were deductible because he stayed there ‘on
business.’ In at least 3 years, his losses were greater than his income and
thus no tax. Second, make a
deductible IRA contribution to reduce income AND receive a tax credit. Double
Benefit! Third, count up all your
medical expenses. Some states allow deductions from dollar one. Fourth, count up charity and expenses
for the job. Fifth, take a course to
improve your skills in computers and take the tax credit against what you owe. Sixth, reduce taxable income by using
FSA at work. The child, child care, education, and earned income credits are
the most powerful—they reduce your taxes dollar for dollar. I owed $956 on my
income but I reduced it by 25% using my wife’s CE education credit, my new
windows credit and my retirement savings credit.
Finally, you can save $200-$400 by doing taxes yourself. New
software from one of the IRS partners makes it easy: https://apps.irs.gov/app/freeFile/jsp/index.jsp
GOP plans to eliminate lunch for the kids
The debate over free lunch is no joke. Last year,
Republicans pushed to introduce a bill
that could have stopped thousands of schools from offering free lunch to all
public school students. Education Secretary Betsy DeVos made a joke
Thursday about no one getting a free lunch at the Trump Political Action
Conference. But the comment came as DeVos, a billionaire staunch opponent
of public schools, leads the nation's free lunch program that provides
nutrition to low-income
students and is under attack from Republicans, raising questions about
whether the administration of President Donald Trump will protect food aid
programs for children, NPR
reported. Some kids don’t have breakfast so lunch is important. Roughly 31 million
American school children qualify for free lunch.
The cost savings from ending kid’s lunch never shows
up in total spending for war.
Hiring
freeze cancels Army child day care—soldiers home and not on duty.
Cutting
EPA, SNAP and State makes water dirtier and less refugee vetting. Don’s
trips
Save enough from what you spend now for $1 million
retirement
Do you handle your money like wealthy people do? Most
wealthy people did not win the lottery or inherit wealth. They worked at a
business and saved/invested
over 15% of their income. They paid bills on time, borrowed only to buy
income producing assets, planned spending, started saving early and
automatically, negotiated price, avoided whims, cut fees, used free stuff, and
researched every buy and never paid
retail. For instance, instead of waiting for their $3,000 tax refund in
March, they had the employer take out less from their check and set up
automatic investing by their IRA trustee FREE.
GOP talk of ‘freedom’ to choose health care is from
another world
GOP uses marketing trick to sell 1970s health care plan as
replacement for ObamaCare. In their world, “freedom to choose” plan is
important. Romney used to say ‘I want to be able to fire
my insurer.’ Our “Reps” live in a millionaires’ world and so they can
afford to buy any plan they want plus supplemental coverage. Most of us can’t afford to buy what Ryan
and his group receive from us taxpayers: a comprehensive insurance policy
that includes completely paid hospital and doctor and prescriptions for any
doctor in DC and their home county. The average cost is about $24,000 for a
couple. 75% is paid by our taxes. They pay the balance with a pre-tax HSA
funded by their salary of $174,000 plus perks from lobbyists and their PACs.
Just like Trump’s cabinet, their world is about ‘choice’—steak or salmon—not deciding
if they must give up food or a doctor visit for their child. They don’t cut their pills in half so
they can stretch their $10 an hour pay. Health is required to fulfill our “Life, Liberty and the pursuit of
Happiness" promise.
GOP promises ‘access’ to buy any policy; not AFFORDABLE
comprehensive
coverage.
Americans want what our Reps have—affordable full coverage
from local providers. Americans who need health care can’t use a tax
credit—they don’t have taxable income. When we go to ask our GOP Reps about
health, they
even lie about showing up.
John Oliver explains: https://www.youtube.com/watch?v=YEGpriv2TAc
Index or brilliant stock picker?
Best stock picker Warren Buffett bet $1,000,000 that an index
fund you can buy would beat the brilliant stock pickers running an
exclusive hedge fund—a bet he made nine years ago. Since then, a standard S
& P index fund overseen by Vanguard is up 85 percent, easily outpacing the
hedge funds’ return of 22 percent. The
managers get the yachts while investors get the fees. For a short or long
term investor, an index wins. For a bear
or bull market, an index wins. Retirement savers in 401ks or IRAs beware: you
can give up 63% of your potential nest egg using high-cost managers. No one
knows the future but we do know that 65%
of us don’t know the fees we pay. Some managers imply their advice is FREE.
Wall Street takes over
$500 BILLION from us every year. Buffett explains
why the market average
will beat all the brilliant stock pickers on page 21 of his report. He reveals
his strategy and why wealthy people DO NOT take his advice.
Use the Buffett strategy: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592
FREE tax preparation
Advertising to you is how they pay for free credit score and
“free” tax prep
https://www.creditkarma.com/ needs
your views to obtain dollars from sellers of financial services and they give
you software to file federal and state taxes at no cost. If you need to
file a simple return, this is the cheapest way. Usually
simple means you have W-2 income and few deductions. The IRS has a topic look
up so you can find the answer to your question easier than waiting on the
telephone for an operator to answer: https://taxmap.ntis.gov/taxmap/. Also,
you can do your federal online FREE using commercial sites through the IRS https://www.irs.gov/uac/free-file-do-your-federal-taxes-for-free.
These sites charge for a state return. You can also use a local AARP tax aide
office: http://www.aarp.org/money/taxes/aarp_taxaide/ AARP
does not discriminate by age or income so they can usually take care of most
people. Best tip: deduction for IRA contributions and tax credit up to $2,000
subtracted from tax you owe. Double Your Pleasure.
Take your Tax Credits like The Don: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382
Your tax refund: The PAINLESS way to create tax-FREE wealth
The average refund—fed and state—is about $3,000. How long
would it take your INVESTED refunds to reach $500,000? 40 years, 35, 25 or 20
years? It takes 1 hour to start a $1/2 million fund. You do it with a
fully-licensed telephone rep not an advisor/broker. Their fees can take 63% of
your accumulations over time. Use the Buffett strategy and get to $1/2
million in about 27 years. You invest in America’s best
companies earning 11%
on average long-term. And a new study by McKinsey
found that companies taking a long-term view outperform all others. A money
manager gets a bonus for short-term results. It’s your money; you keep your
bonus.
Create tax-FREE wealth painlessly: http://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X
GOP selling Social Security and Medicare cuts by claiming to
“save” program
Ryan and the GOP are using a marketing tactic to cut
spending on our programs. Even the AARP advocates “saving” Social Security and
Medicare. Our millionaire Reps will cut benefits and thus “save” the program. They
want us to leave the details of cutting to them behind closed doors. Everyone
is FOR “saving” programs. But cutting the benefits to save them is not
what Americans have in mind—it’s a trick. Since most recipients of these
programs rely almost exclusively on their benefits, they assume their Reps in Washington
will increase them to match inflation. Americans paid for both benefits all
their lives and see no reason to limit them because of demographic shifts and
Congress’ wasteful spending. When the
price of F35 fighters is raised by Lockheed, we pay up no matter whether
over budget or not. I should not have my benefits cut because Congress limits
the amounts the rich have to pay into the system. I had to pay my 6.2% of
salary but anyone
making over $118,000 did not have to pay on all theirs.
Congress can undo this American Socialism for the Rich: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584
Will you have enough income for the rest of your life?
We don’t know if the GOP will get away with cutting Social
Security and Medicare benefits. Some of us don’t want to wait to find out so we
plan ahead. Of course no one knows how long you and your spouse will live so we
must consider our alternatives. Insurance actuaries do this for a living so we
can use their estimator to get some idea at http://www.longevityillustrator.org/Profile?m=1.
The most important part of having enough is to stay invested in stocks. If you
decide you will not take a risk on the long-term return of 11%
a year for stocks, even for part of your money, you will need to keep
working during your retirement. If we assume one of you will live to age 90,
you would need $600,000 to receive $20,000 a year for 30 years; $800,000 for 40
years. http://www.moneychimp.com/calculator/present_value_annuity_calculator.htm
Unfortunately, inflation will make $20,000 worth $5,000 in 40
years. To defeat inflation we need to own stock funds—at least half of all our
future money has to earn equity returns. Some advisors push annuities with the
guarantee of a fixed but decreasing value. The smart way is to imitate an
insurer’s fund yourself. There are no refunds for annuities. Best alternative: https://www.amazon.com/Best-Annuity-Strategy-Income-Growth/dp/1497532019
Beware: Looking good is easy; quality is hard
These ten vehicles were voted ‘less well made.’ They might
be OK if you lease for your business but consider that they may need more
maintenance than a 3 year old Camry or Accord. Paying a lot does NOT guarantee
quality. Mercedes
and Dart are both on the list. Foreign and domestic, small and large, are
represented. Certain
models not to buy. Do your research: JD
Power, CR, KBB.com.
Test your insurer for discounts: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634
*****************
We are entering
the Twilight Zone:
"There is a fifth dimension beyond that which is known
to man. It is a dimension as vast as space and timeless as infinity. It is the
middle ground between light and shadow, between
science and superstition, and it lies between the pit of man's fears
and the summit of his knowledge. It is an area which we call the Twilight
Zone" where “alternative
facts” and illusions of conspiracies are lived out. Lies are considered
truth.
Rod Serling
Remember, Don Trump
is still a contractor from Queens NY, just richer than most. As a
promoter, his income is from lending
his wealth “brand” to other’s buildings and golf. The Don does not like to
read so policy
is 1 page of MAPS—he likes maps and TV. He conducts secret state business
in front of the wealthy, letting
them play with the nuclear “football” that can kill us all. Richard
DeAgazio might be Russian spy who switched nuclear briefcase on Rick during
photo op. Creates
fear to control base. Tweets
all night.
Real
Donald Trump called for lock-step marching by all and remember your brown
shirts. When ideology “discards
and chops off” the facts and calls world normal.
Conservatives
jump into anarchy: “the deconstruction of the administrative state.” Bannon
called himself a “Leninist”
who wanted to “bring
everything crashing down.”
Racist
legacy: “get out of my country” supporter kills restaurant patron in
KS. Bannon previously articulated his dismay with South Asians supposedly dominate Silicon Valley.
White high schoolers
launch verbal
assault “Trump, trump, trump” in racist chant.
The Don’s statements,
T/F: http://www.politifact.com/personalities/donald-trump/stories/
*
Promises (lies)
and Actual outcomes:
One
dictator threatening another dictator with “military force” --who starts
war first? N. Korea
missiles vs Trump strongman “get tough” talk may provoke missiles.
Pence
using personal email for state business (Hillary crime?) and was hacked.
Impeachment:
Americans think Little
Dictator has already violated Constitution: gifts from foreigners.
Collaboration
on probe by the FBI undercuts the democratic state—no unbiased justice.
The
Don accused Buffett of not paying tax like himself: the liar has to hide
Russian deal?
Sessions, top cop, lied
to Congress re: Russia ’s
help blasting Hillary: 5
years in prison? No, Constitution's Speech or Debate Clause shields lawmakers from
prosecution for lying
Delusion: These are his “accomplishments”
for the month—Signed 12 papers; 12 hired.
WOW, the Don is told that health insurance is “complicated.”
No Exec Order fix.
"We have to start winning wars again," but terrorism
is beaten by Seal Team NOT bombs
Little
Dictator just barred press at WH briefing: The New York Times, CNN, The
Hill, Politico, BuzzFeed, the Daily Mail, BBC, the Los Angeles Times and the
New York Daily News were among the other news organizations not permitted to
attend.
Little Dictator allows immigration officers to use
police tactics—no
accountability.
Immigrants
are part of the success of the American system: ideas, energy, renewal
Deportations will drive
up wage workers hourly wages—NOT what GOP intended
Muhammad Ali’s son detained at a Florida airport and questioned about his
religion.
Internet steps to have someone you don’t like deported: https://www.usa.gov/deportation
The Don says we, not him, must
cut our lifestyle and “live with less”: must
buy military.
Cost of guarding Tower, buildings, 2 golfs, airplane, etc, $500,000
a day NYC alone.
The
Don pats himself for Obama’s economic growth and drop in debt he did not
make.
The Don encourages TX
discrimination against Dems in voter ID law. GOP wins.
Mattis, Defense, "If
you don’t fully fund State, then I need to buy more ammunition".
The
Don blames Obama for protests at town halls of GOP reps.
Obama
receives the JF Kennedy “Profiles in Courage” award for service under
pressure.
*************
Regulators are the only protection against
corporations since we
can’t sue anymore
“It is nearly
impossible for one individual to take on a corporation with vast resources.”
Supremes
stop us from suing—State courts no
longer available to sue corporations!
Trump
cuts rules on chemicals in tributaries and waterways—Water prices go up.
Trump to allow power plant pollution and mining on protected
lands—Acid rain back.
We need regulation—GOP wrong—companies/cities
wouldn’t fix bad products on own
GM
killed 124 because ignition switch pin not replaced after knew it
killed first in 2006.
Police want gun control.
When everyone has guns; your
chance of being killed goes up. Police don’t know who
to shoot. They assume everyone has one and shoot
first. You and thief have guns. CO schools now allow
teachers/administrators to carry
guns in the classroom. Kid lesson! Since 2015, police have killed
86 people with realistic looking FAKE guns--suicide?
Police organization issued a formal
apology for the historic mistreatment of minorities.
Police to buy
military weapons against civilians again.
SCAMS:
Texting
while driving (Oscar show) is dangerous too.
GOP still blaming
Obama for all that goes wrong—now he is leaking from WH.
Racists
are creating fake photoshop pictures of immigrant arrests to scare people.
Ignoramus Award:
Why is Conway,
legs up, on Oval Office couch? People’s couch!
How our government
wastes our money:
More
bombs will not make us safe—Bush tried that and it failed. Obama’s Seal
Team 6!
Where have all the
jobs gone?
Dog-walkers
more in demand than teachers as population ages
Health care and pharma jobs grow as more people need help
living
Handyperson jobs grow as fewer people can do chores
Robots: We
have to learn to live and work together to prosper. Automation is eternal.
Lifetime MANUAL
labor down to 10% of workforce—multi-cultural age blended work.
Specialty, niche, temporary, topical, and non-career
growing; technical
shines on Lupe.
LG appliances 600
workers TN
Which job board sites are best
for your job search?
Who owns your
account now?
Teamsters Road Carriers Local 707 Pension
Fund folds 4,000 get screwed.
Ransomware recovery: http://securityaffairs.co/wordpress/53438/malware/ransomware-recover-guide.html
Robo calls handled by Mr NoMoRobo: https://www.nomorobo.com/
Miracle:
Only real victim of priest abuse quits Pope’s panel on abuse
since no action on priests
IAN
41 Watchung Plaza, B242
973.746.2014
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