Your Unbiased Advisor: Deduct the full cost of your ride!

Can you deduct the full cost of your ride?

The recent changes to the tax code are giving business executives a new perk: the opportunity to deduct the entirety of a corporate-jet purchase. “That is a major change. Before, buyers of new planes could generally deduct at least 50% of the cost of an aircraft in the first year. Buyers of used airplanes had to take those deductions more slowly. Marcus Adolfsson, [CEO of online tech] publisher Mobile Nations, bought a used Embraer Phenom 100 for just under $2 million at the end of December, right as the new tax law was going into effect. The rule allowing owners to deduct 100% on used equipment was retroactive to late September … Mr. Adolfsson, a CEO and licensed pilot in St. Petersburg, Fla., has used his jet to skip the hassle of commercial flights, flying to New York to meet with advertising partners and taking jaunts to Miami and Winnipeg to visit his remote employees. He lovingly compares the plane to a minivan: less sexy than some smaller planes, but a comfortable time saver. ‘It’s kind of my office on the road,’ he said, adding that he can lease it out for $1,300 an hour when he isn’t using it.”

Avoid paying the taxes these jet owners don’t pay: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Another tax from your take-home pay

Americans spend tens of billions of dollars on government-run lotteries each year. But as income inequality widens, low-earning households spend a disproportionate amount of money on lottery tickets. The lowest-income households in the U.S. on average spend $412 annually on lottery tickets, which is nearly four times the $105 a year spent by the highest-earning households, according to Bankrate.com. Americans making less than $30,000 a year are most likely to buy multiple lottery tickets each week. We are putting ourselves in debt—more bankruptcies than 10 years ago—in an effort to escape our economic crisis. Our economic situation hit a wall in the 1970s-1980s. Now the state licensed on-line gambling which can only make matters worse.

Help your child avoid the crisis: https://www.amazon.com/Where-can-your-child-invest-$100/dp/1492164240

Coins with no value continue to make sure you lose your money

Crypto money has outdone the dot-com bubble burst in 2000. You are guaranteed to lose because you didn’t buy when this pretend money was 1 cent. Because crypto is just computer blip, it is easy to steal. Some exchanges may be operating illegally. Lesson: buy low sell high or just go to the casino. You would be better off in the gambling game—NOT as player but as an owner. For instance, Wynn Resorts stock returned 98% so far. At least they are real and have value to some. Gambling will always be with us but you are better off as owner than participant in a bubble. Or start your own currency for a true losing game. Alternative: own part of successful companies; leverage compounding.

https://www.amazon.com/Personal-Finance-Smarties-Not-Dummies/dp/1469973030

Are home equity loans still deductible?

The IRS said that taxpayers can often still deduct interest on a home equity loan, home equity line of credit (HELOC) or second mortgage, regardless of how the loan is labeled. The Tax Cuts and Jobs Act of 2017, enacted Dec. 22, suspends from 2018 until 2026 the deduction for interest paid on home equity loans and lines of credit, unless they are used to buy, build or substantially improve the taxpayer’s home that secures the loan. Under the new law, for example, interest on a home equity loan used to build an addition to an existing home is typically deductible, while interest on the same loan used to pay personal living expenses, such as credit card debts, is not. As under prior law, the loan must be secured by the taxpayer’s main home or second home (known as a qualified residence), not exceed the cost of the home and meet other requirements. One of the criminal charges on Manafort was that he lied on mortgage loan. Many foreigners get caught because they use questionable money to buy property and then mortgage it so it is ‘clean’ money to live on. The questionable money is not taxed and using a loan for income is also not taxed.

Use a legit tax-shelter: https://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

What to do when your life insurance premium balloons?

Policy owners of universal life insurance are suing insurers for raising the premium on policies sold in the 1980s and 1990s. Insurers offered an attractive guaranteed minimum interest rate to policyholders of about 4%-5%, experts said, supported by higher interest rates. But the returns on bonds have been lower. Plaintiffs claim that insurers raised costs to make up for bad bets on interest rates. Insurers claim the increases are warranted, due to things such as mortality conditions that increase the frequency of claims they have to pay. However, people are living longer not shorter and extra costs are the insurers’ responsibility. Insurers have tripled CEO pay over the past 35 years. Your options: reduce death benefit, take surrender value, pay more, and ask your carrier if your policy has other options.

Do you need it: https://www.amazon.com/Life-Insurance-Need-Save-right/dp/1480002178

Is a deductible co-pay LTC policy right for you?

Since prices have been rising and current owners of these products keep getting premium increases, you might guess that this ‘new’ coverage from NY Life is too late to the party. Yes, boomers are getting older and on paper, there is a huge unfilled need. However, this coverage has a deductible and a 20% coinsurance to lower the cost. Policy benefit caps mean that you could easily run out of benefits. To sweeten the deal, you can earn a dividend. If you don’t need it, there is no refund.

Compare alternatives: https://www.amazon.com/Long-term-Care-Insurance-Updated-2013/dp/148274001X

Is a ‘Retirement’ bond right for you?

The retirement bond would not pay back the principal; instead, after 20 years, it would become more like a deferred annuity paying a stable, secure income—but investors would get more bang for their buck. Martellini says the retirement bonds could be offered as transparent, low-cost products that are easier to get out of than a typical income annuity. Someone five years from retirement today, a 61-year-old, would be buying 2023 retirement bonds. The bonds would start paying cash in 2023, and continue paying for 20 years. If launched, the new retirement bonds could be offered in lieu of bonds or annuities to investors.

Is your 401k may be robbing you blind?

M&T Bank workers’ lawsuit challenges high fee, poor performing proprietary mutual funds in the bank’s 401(k) plan. Many other lawsuits against financial companies have accused employers of adding affiliated, high-fee, poorly performing funds in 401(k) plans at their workers’ expense. Some employers have had to settle: Deutsche Bank ($21.9 million), American Airlines Group Inc. ($22 million), Allianz SE ($12 million), TIAA ($5 million), New York Life Insurance Co. ($3 million), and Principal Life Insurance Co. ($3 million).

Keep your money safe: https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966

Should Congress force employers to offer high-cost annuities?

All the big annuity insurers are greening Congress to make it legal and easier to put their products in your retirement plans. Hoping to cash in on all the retiring workers of

America

, insurers are calling their products a “boost to Americans' retirement security through greater access to products that provide guaranteed lifetime income in retirement." What most of our Reps don’t know is that we could give up over 50% of our retirement dollars to fees, costs, and charges built into the contracts. Every year insurers take 2-3% of your total nest egg. That could be $3-5,000 a year. Sure, annuities are secure and can provide ‘guaranteed’ income. However, over time the purchasing power of the income is cut in half--$1,000 a month benefit becomes $500. Unlike Social Security, most plans don’t raise the income to keep up with inflation. And when interest rates go up, you will want to cancel the contract for a higher income. Then surrender charges apply.

Check alternatives: https://www.amazon.com/Combo-Annuity-Guaranteed-Income-Growth/dp/1493572237

Wealthy buying into companies directly: skip the hedge fund commissions

The superrich have invested in businesses directly for a long time. One of the oldest direct investments has been real estate. Family money built the malls, the department stores and commercial buildings directly. Many billionaires have been rewarded by purchasing shares in Warren Buffett’s firm Berkshire Hathaway 40 years ago. The wealthy are now envious of those who bought early in Uber Airbnb etc. They want the prestige of being the early investors. This requires understanding the risk/reward of direct investing. They think they are smarter and can save on the costs. And so can you with the help of industry insiders. However, if you are NOT connected to an insider, you might want to follow Warren Buffett and John Bogle advice about investing.

Buy direct and cut your fees: https://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

Who is taking our money on Wall Street

This is the AVERAGE: $422,500 up 13% in 2017. They hired only 1700 last year—keeping more for the owners like the Johnson family. Automation has eliminated most of those who actually work on ‘Wall Street.’ My job and staff in the ‘back office’ are gone. In 1988, I automated the variable annuity sales process so no need for this staff. All the profits from my and other areas went to senior management who went out and bankrupted the firm. The profits came from the fees, ‘haircuts’ and kickbacks from the money Wall Street clients give to the sales people. Sales people earn an average of $47,000. The guys you see in the pictures of the exchange make even less. If you are trading or paying 2% for your account and products, you are giving up 63% of your potential earnings to the owners. Money management is the 2^nd oldest con. The top 1% own 25% of everything of value in US just like 1920s. We started losing ground in 1980.

Stop paying for what you are NOT getting: https://www.amazon.com/Pimps-Wall-Street-money-middlemen/dp/151525254X

Are donor advised funds right for you?

DAFs are the Internal Revenue Code Section 501(c)(3) philanthropic accounts established at a public charity. They allow donations of cash, property, appreciated assets and more—and donors receive immediate tax deductions. The DAF legally controls the money from the point of donation. Subsequently, donors can advise regarding specific charities that should receive donations. Generally, the DAF follows the donor’s advice. Plus, DAFs offer the option of completely anonymous donation. Despite fast growth and unique advantages, DAFs have recently come under increasing scrutiny and criticism. Among the concerns are a lack of transparency and potential conflicts of interest for financial institutions that offer the funds while earning fees for their investment management. Besides financial institutions, DAFs are housed at more than 700 community foundations in cities across the country.

You can make your assets tax-free too: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

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Make

~~America~~

, “The Don”, Great Again

Senile Psychosis

Two

Americas

: A Banana Republic? Do we really want an infant king? Daddy Putin!

McGahn is ‘lodestar’: Told Trump ‘NO’ - saved Mueller!

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How Govt wastes our money: Congress spends $1.3 Trillion we don’t have!