Up your refund by $1,000 before April
17
3 weeks to tax due. If you find
you owe tax instead of hitting the refund button this year, you may still be
able to claim your refund. You can reduce
your 2017 income and receive a tax credit. Credits reduce your taxes dollar
for dollar. In effect, IRS code can help you reduce taxes like The Don AND save
for retirement at the same time. On line 32, Form 1040 or line 17, Form
1040a, you can enter up to $5,500 ($6,500 over age 50) as IRA contribution to
reduce your income. If you meet the qualification, a credit will show up on Line
51, Form 1040 or Line 34,
1040a. You subtract this credit from your tax. EG: Income $66,000: tax
refund is $3,335, without IRA contribution. With the contribution, the refund
is $4,392 or $5,553 if you both make the contribution. Credit against tax is
$400. IRS checks your IRA. Use: irs.gov/app/freeFile/jsp/index.jsp
For help with complicated returns:
https://irs.treasury.gov/rpo/rpo.jsf
Transfer other people's investment
values to you
“The
stock market is a device for transferring money from the impatient to the
patient.” Warren Buffett
Your choice: You and your advisor can try to outsmart the market with
millions of traders and likely earn 3.79% a year or let their money flow to you
over time and earn 11%. The analysis of real investors showed that the average
advisor- investor earned just 3.79%
a year while the stock market earned 11.06%
over the last 30 years. DALBAR’s
You can earn 11% by NOT letting advisors touch your money. 95%
of active traders do NOT beat the market over time. The leading cause of
bad returns is costs. Morningstar the rating firm found: “In every single
time period and data point tested, low-cost funds beat high-cost
funds.” Warren Buffett, one of the greatest investors of all time, has given us
his formula. We must leave our assets alone. Riches come to those
who do nothing but wait. All the things that our
Wall Street advisor tells us to do are wrong. Buffett says growth comes from compound
interest not trading, timing, or hedging.
Patience is profitable: https://www.amazon.com/Patience-profitable-passive-investments-beat-Street/dp/1986843777
The Trump Tax Shelter
Clearly the Trump tax plan helps
businesses and the wealthy. Trump even cut the Pease limits. The Pease
limitation capped the value of itemized deductions for wealthy taxpayers. There
is no reason why you cannot benefit from the tax code too. Using § 408 of the
IRS code, you can create an unlimited account and never pay taxes on earnings. It
eliminates taxes when taken out for your needs and can pass to your heirs tax FREE.
No matter what your income this helps you avoid future taxes to pay off the
national debt. All of the 2018 individual tax breaks are repealed in 2026
to pay for the permanent business tax cuts. Avoid paying for their
windfall—35-21% tax rate. Corporations provide only 1% of our revenue now. 20
TRILLION dollar deficits mean each taxpayer owes over $160,000.
Avoid getting stuck making up their share.
Use Trump’s Tax Shelter: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300
Wall Street is taking $500
BILLION+ from our accounts
All the things that our Wall Street advisor
tells us to do is wrong
Set up your asset
account and let it grow by itself.
Don’t trade, time, hedge,
etc.
Fidelity analyzed its most successful accounts.
Results:
Either the client was
dead
or forgot about their account.
Warren Buffett has confirmed the same success factor.
He says:
“The stock market is
a device for transferring money from the impatient
to the patient.”
“We continue to make
more money when snoring than when active.”
The DALBAR study:
The average advisor investor
earned just 3.79% a year while the stock market earned 11.06% over the
last 30 years. DALBAR’s
QAIB
Morningstar the rating firm found:
“In every single time period and data point
tested,
low-cost
funds beat high-cost funds.”
Invest in 'Assets that grow by themselves'? : https://www.amazon.com/Assets-that-grow-themselves-snoring/dp/1986381226
GOP defied The Don last month and
gave more money to SS for backlog
Congress made a downpayment on a
badly needed fix for the customer-service crisis plaguing Social
Security. Lawmakers ignored the Trump administration’s request to hold the SSA
budget flat, instead boosting the agency’s administrative budget by $480
million. Demand for SSA services is rising as the nation ages, with about 1
million new claimants coming on board each year. But budget cuts have
forced sharp reductions in staffing and other resources that have damaged the
agency’s ability to provide effective, timely public service. Long lines form
daily outside many local field offices. Our local office was closed 5 years
ago. And the backlog
of people waiting for a hearing on claims is more than 600
days. Apply online: https://secure.ssa.gov/iClaim/rib
Avoid SS benefit cuts: https://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle/dp/1466394285
IRS free filing sites avoid $300+
cost of filing taxes
Commercial tax prep sites offer
expensive loans as advances on your refund but you can keep
your whole refund using the IRS free filing partners. Refunds can be in
your account within 2-3 weeks.
Remember: IRS does NOT call you. The average refund is over $3,000. Check if
you have a refund for a previous year—there is over $1 billion from 2014 alone.
https://www.efile.com/unclaimed-irs-tax-refund-checks-and-bank-deposits/.
Need previous year return (transcript): https://www.irs.gov/individuals/get-transcript.
Check your refund: https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp.
You can create a tax-free
retirement fund of $500,000 with that amount each year. If
you need free tax preparer service for your 1040, use AARP Tax Aides near
you. Bring last year’s return and ID: https://www.aarp.org/money/taxes/aarp_taxaide/.
If you have a simple return: FreeTaxUSA
or FreeFile: https://apps.irs.gov/app/freeFile/jsp/index.jsp.
Use your refund to fund your
tax-FREE IRS approved account: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976
Is
holding life insurance for estate tax right for you?
Each family needs to consider whether their specific circumstances warrant holding this asset to pay for estate taxes? Will there be an estate tax in the future? The federal tax exemption was doubled to $11.2 million (double if couples plan) but only through 2025. If you will not be liable, the reason to pay for this asset is gone. Life insurance is usually a bad investment. So if you don’t need a contract to pay the federal or state estate tax, there are better investments. Your policy will show the guaranteed cash value (and additions) at age 85 and 90, so compare these values to a balanced fund accumulation for the same period at the same premium/contribution level. Try 6%, 7% and 8% rate in this: http://www.moneychimp.com/calculator/compound_interest_calculator.htm. If you pay $3,000 a year, enter that. If you are age 70, enter 20 years. Compare $132,000 to age 90 values in the contract. If you have held the contract for a long time, cashing it in will cost income taxes on the gains like any asset. You should contact the carrier or agent for options like loans, paid-up coverage or conversion to an annuity. Finally, you may want to obtain ‘life settlement’ quotes. Investors will pay you cash in order to collect on your death. Beware: that creates a tax bill too. Ask Hunt: http://www.evaluatelifeinsurance.org/.
Each family needs to consider whether their specific circumstances warrant holding this asset to pay for estate taxes? Will there be an estate tax in the future? The federal tax exemption was doubled to $11.2 million (double if couples plan) but only through 2025. If you will not be liable, the reason to pay for this asset is gone. Life insurance is usually a bad investment. So if you don’t need a contract to pay the federal or state estate tax, there are better investments. Your policy will show the guaranteed cash value (and additions) at age 85 and 90, so compare these values to a balanced fund accumulation for the same period at the same premium/contribution level. Try 6%, 7% and 8% rate in this: http://www.moneychimp.com/calculator/compound_interest_calculator.htm. If you pay $3,000 a year, enter that. If you are age 70, enter 20 years. Compare $132,000 to age 90 values in the contract. If you have held the contract for a long time, cashing it in will cost income taxes on the gains like any asset. You should contact the carrier or agent for options like loans, paid-up coverage or conversion to an annuity. Finally, you may want to obtain ‘life settlement’ quotes. Investors will pay you cash in order to collect on your death. Beware: that creates a tax bill too. Ask Hunt: http://www.evaluatelifeinsurance.org/.
Do what
is best for your retirement: https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016
Health
insurance premiums to rise—existing conditions to cost more each year
The new U.S. Department of Labor
proposal would allow the “short-term” health insurance market to go from offering
90-day “skinny” policies to 364-day policies, while being able to increase
premium prices based on age and even deny coverage to those with pre-existing
conditions like cancer, diabetes and asthma. “We could see premiums for 50-64
year olds cost five- or even 10 times what younger people pay.” AARP contends premium
increases could hit the $4,000 mark or higher annually for 60-year-olds who
buy a silver plan in the Affordable Care Act marketplace if the short-term
marketplace is allowed to expand. Trump has pushed for these age/illness rated
policies after cutting the subsidy that allowed millions more to be covered. He
has encouraged the young healthy group to cut their coverage. Buy affordable
catastrophic coverage or remain in your employer plan: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083
Is a laddered CD plan right for
you?
When CD rates are rising as they
are expected to do in the coming year, what do you do with your accounts coming
up for renewal? If you renew for another 5 years to catch a higher rate, you
might miss the extra 1% which may come in a year. Today, a 5 year pays 2.75% at an internet bank run
by Goldman Sachs. You lose interest if the rate climbs 3% in 5 years. Under
normal circumstances, you may earn more interest by dividing your balance into
5 equal amounts and buying a 1, 2, 3, 4, and 5 year paper. Then when each
matures, you buy the current 5 year if you don’t need the money. Each year, you
are going
long to take advantage of the higher returns and you have cash if you
need it.
An alternative is to rely on a Tax-Managed
Balanced Fund. With over half of its assets invested in federally tax-exempt
municipal bonds and half in non-dividend stocks, this fund has
maintained steady returns of 7%
while creating little taxable interest. This combination of securities will
reflect new interest rates and avoid loses. Cost: 0.09%.
Go long—build your future: https://www.amazon.com/Go-Long-Reach-Wealth-Starting/dp/1519376189
Is an advisor using the fiduciary
rule right for you?
Despite the fact that Trump has
nullified this requirement for financial sales people, you can still hire
professionals who live by the rule. If you are looking for an advisor, ask
for those who follow it. There are advisors with the degree CFP who “must act
in the best interests of the client.” These pros place the interests of the
client above the interests of the CFP professional and the CFP professional’s
firm. They lose their license if they fail.
Use fiduciary protection: https://www.amazon.com/Fiduciary-Rule-BEST-dont-lose-anymore/dp/1530980275
Best gift for your graduate this
year
Money to start their long-term
investment account. There is one important fact about investing that we usually
learn too late to help: Time value of money. What’s that mean? Your graduate
can practically guarantee themselves a great nest egg in the future if they use
TIME to grow their investments 10 times. They can spend $30,000 for every
$3,000 they invest early. With 30 plus years to compound, $250 a month, $3,000 a
year can grow to $1,000,000 in 33 years. INVEST EARLY: people
aged 35 have to set aside 11.69% of their pay to keep up with those in their
20s socking away only 6% of their salary, based on calculations by
Financial Engines. Index funds are a good investment, as they are less
expensive than other options. Pay less and earn more. Set up a Roth IRA if you have
no access to an employer-sponsored retirement plan.
Create a Roth in 1 hour: https://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938
****************
Make America, “The Don” Great
Again
Putin’s influence: Manafort,
Flynn, Gates, Page, Stone, Papadopoulos, Sater, Zwaan,
Prince,
Jr,
Jared,
Sessions,
etc
“The
election is going to be rigged—I’m going to be honest”
************************
How Govt wastes our money: Congress
spends $1.3 Trillion we don’t have! The kids will pay.
Congress
voted 2,300 pages of spending
no one read. Trump
TV condemned his signing.
Schools
buying rocks for students to throw at AK 15 intruders—30 rounds/min vs
rock.
Trump’s ‘doc’ to failing agency:
400,000 employees : Nice
guys can’t fix VA problems.
SCAMS:
Beware: Diesel
VWs
failed emissions parked in desert tweeked for resale.
GOP
Congressman links Parkland survivor Emma to communist Cuba – Sick Alt Right
TX
woman gets 5 years in prison for voting while on work release –she is
black.
TX
pastor to GW Bush caught selling worthless Chinese bonds to congregation
Jobs:
Despite bad treatment, FBI
exec asks young people to work as civil servant in FBI.
Shell
oil plans to manage climate change to Paris accord despite Trump
SS got extra $480 million to deal
with poor service and hiring
more CSR.
Who owns your account now?
New
Medicare card in April with separate number so thieves can’t have your SS# etc.
Miracle:
Can
Mattis, Defence keep Bolton
& Trump from sending us to war--Iran, Korea, etc?
Chicago White Sox gives
exonerated killer his old job back after 24 years.
IAN
41 Watchung Plaza, B242
973.746.2014
Alert
