IRS audits the poor not the rich
IRS admits it can’t audit Trump and friends: the wealthy avoid paying their fair share and they get away with it. The wealthy pay lawyers to outwit the IRS: Congress keeps cutting the IRS budget. The top 10% of earners have accounted for most of the revenue gap, experts say, by underreporting their liabilities, intentionally or not, as tax avoidance or outright evasion. Those with annual incomes under $25,000 are audited at a higher rate (0.69%) than those with incomes up to $500,000 (0.53%), according to the IRS data. Trump will never reveal his taxes since his audit will never be done. The IRS will fail to collect nearly $7.5 trillion in taxes owed between 2020 and 2029, according to one study. Poor Mississippi Blacks are the most audited target. White Alaska Denali is least audited region. Working Americans have one last IRS-approved tax shelter. Why pay the taxes due from the wealthy?
Start now: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300
Is life insurance in your estate plan right for you?
Some agents make the mistake of selling you life insurance on your spouse’s life but naming your child as beneficiary. When your spouse dies, the death benefit may be taxable to you. Why? To the IRS, since the husband was the owner of the policy, he has given a gift of the benefit to his son – making it a taxable gift amount. Your agent should know that the spouse must own the policy to avoid this blunder. Obviously, your spouse as owner can use your funds to pay the premiums. Another mistake more common today is when you find you don’t need your policy benefit or can’t afford the premiums and you wish to sell. So you sell your policy but the buyer does not tell mention that you must pay tax on the death benefit as income to you. For example, if you sell a life insurance policy with a $250,000 death benefit for $5,000 and you have paid $10,000 so far, the amount subject to income tax would be $235,000 ($250,000-$10,000-$5,000). You sold an asset so you must pay tax on the gain. If the agent suggests naming your estate as beneficiary, don’t sign until you have checked with an estate lawyer. Finally, your agent must follow specific rules to transfer your policy from one insurer to another. Have a lawyer check the contract before signing. Most agents are not tax lawyers. You may have to pay commissions again. You may have a surrender charge if you transfer an annuity.
https://www.amazon.com/Drop-Your-Insurance-Only-What/dp/1448623391
Is your advisor treating you intelligently?
Is your advisor wasting your time? Here are five
things smart advisors never say. If they say, “I think you might want to consider…” it sounds like they don’t know if
this item is right for you. What do they mean when they say, “Let me know if
you ever want me to take a look…”? Clearly they are fishing and don’t know how
to help you. When they say, “I can offer you a no-obligation…” think: what can
this really cost? Do I have time to watch a canned presentation? Advisors are
taught to stay in front of clients: “I just wanted to touch base…” without any
planned next step, this is time waster. When they say, “If I don’t hear back
from you…” they mean they will keep bothering you until you take the
initiative. They don’t know, specifically, what they can offer you. Another
time waster! Don’t forget: Your advisor is a salesperson not a personal friend, ever.
https://www.amazon.com/What-Your-Advisor-Really-Means/dp/1542964520
Is
Our central bank, the one that sets interest rates and creates
new money, has taken the unprecedented step of controlling
the way banks can use their profits. Thirty-four banks cannot pay higher dividends nor buy their own stock back changing
the value of the stock owned by our pension fund etc. The Fed just extended
what it’s been doing since June. It limited bank payouts because banks failed
their stress tests: they don’t have emergency funds to cover loses. Another
example of socialism: the Fed is using our future tax money to give
bailouts to struggling companies. Another: the president
demands a commission from his deal for a
https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584
Another way the wealthy avoid paying their fair share
Using some of the tricks of the tax laws promoting clean energy, one company CEO became a “utility company” to avoid taxes on salary bonus and real estate investments. Solar tax credits and accelerated depreciation rules were combined so every dollar of solar energy investment translated into more than a dollar of tax credit. Tax credits were used to move taxable 401k assets into non-taxable assets for life-long tax-free income. This particular trick costs us taxpayers approximately $1.3 million in taxes for 2020 alone. Why should we pay for this person’s fair share of taxes?
Make your income tax-FREE too: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976/
We work as long as it takes to save for retirement
Some people say they will work till they die. They are able
to work now and they see no reason to quit. Others work even though they could
quit and live off their savings. They are able to work now and don’t believe
they have enough money to quit. There are people who look at their savings and
know they cannot quit. Some
think they need $1.9 million to retire. They have an idea that until they
reach their retirement nest egg, they must work. Since most of us never learned
the power of compounding—the
time value of money—we have no idea how long or how much to save. When I
was a child my parents put money in a permanent life insurance plan, mistaking
insurance for a savings plan. They knew nothing of investments. If my parents
had known about the power of compounding the dividends of common stocks they
could have retired earlier. If they had known about Anne
Scheiber who earned $4,000 a year and kept buying stocks like Coca-Cola,
Learn about the Miracle of Compounding: https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513
Do investors still need an advisor to stop them making big mistakes?
This is the mantra of every paid professional in the business. How else could they justify fees that could take away from us up to 63% of what we would have had? Morningstar’s annual “Mind the Gap” report estimates the impact of investors’ behavior on their investments. The report found that investors captured every bit of their funds’ return and then some. Because investors have learned not to panic, we may be better off long term WITHOUT the middle people taking their money. Sure, when we need help we can pay a just one fee to a fee-only planner. That is what industry people do themselves. Of course we don’t know how many investors will “stay the course” when we have a long bear market. Another report finds that “the average investor’s appetite for equities has remained unchanged throughout the Covid crisis.” Investors have embraced the strategy of buy and hold by filling up Target Date funds.
https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966
Show your child how to invest like Warren Buffett
Teach your child to invest the Buffett way. Success with
money starts early. Compounding over time assures your child of security. You
have a great opportunity to teach your child how to become successful with
money. They can learn to take care of themselves and even become wealthy from
your guidance TODAY. You can show them how to take advantage of the greatest
power in finance: compound interest and the time value of money. Warren
Buffett, who turned his paper route savings into $60 billion, credited
compounding for his wealth. "My wealth has come from a combination of
living in
Start today at home in 30 min: https://www.amazon.com/Where-can-your-child-invest/dp/1492164240
**********ACCOUNTABILITY**************
Like 1776, this
period is a test
of democracy—do we really want ‘low-IQ’
Mobster?
Philly DA: we have an “authoritarian
dictator."
Dictator: I
order Barr to indict Biden over the Russia ‘hoax’
Dictator: disdain
for masks, ended in hospital
213,000+
die; finally Dictator “gets
it” but did he really?
Dictator: “virus
less deadly than flu”
Dictator: “I'm
a perfect physical specimen”
Dictator: stimulus
on or off today “I don’t know”
How Govt wastes our money: Congress
gives 3.7 Trillion to the wealthy!
Jeff Sessions to border DOJ: “We need to take away children”—crime against humanity
Trump’s
trade deficit climbs to the highest
level in 14 years: promised
to eliminate it
This
is where our virus tax money went: fracking firm execs $55 millions: 133
other firms too
Trump’s
letter re: drug discount costs us $19 million; card costs $51 million; card
sent later?
Airlines’ lobbyists came through with more: airline bailout talks back on, says Dictator
Jared’s Covid team: 3M encouraged to sell masks to China then we paid 10x for same
FBI pursue/grab domestic
Terrorists: Terrorists
to overthrow government are not militia
Trump encourages MI terrorists: aiding and abetting the overthrow of gov is treason
SCAMS/SPINS:
TV
adverts waste of our money: Political
ads have almost no impact at all on swaying voters
Facebook/Twitter
‘news’ can be faked: check real
news sources before you believe
Black
terrorists NFAC protest another police shooting: TX
cop kills Black “good Samaritan”
Drug
pusher wins: Killing thousands with addictive drug and yet keep $ billions without jail
Supremes
ready to turn back time: Court to make white evangelical world the norm: revenge?
Early
voting in limited SC sites creates 1 hour lines: GOP must keep voters away
to win.
Trump
tells 50K supporters be poll watchers: illegal to intimidate at polls: fake
“ballot security”
Supremes
help SC GOP make voters obtain witness to “secret” ballot: no ‘secret’
anymore
Supremes
to help PA GOP make votes invalid due to Trump’s PO mail delays. MI
delays too.
On-time
delivery of first-class mail is plummeting:
GOP
halts FL ex-felons from registering to vote even after fines, fees paid
Trump
given drugs made from fetal cells: Religionists were silent: OK aborted
fetus for Leader not us
Trump:
virus is “a
blessing from God” kills 213,000 Americans!
Trump’s
“herd
immunity” works in reverse: more
states, assistants GOP, Jt Chiefs get sick 34
Trump’s
TV crew reshoots his entrance into the White House without a mask: stand-in
double?
Trump’s
insurance covered multi-treatments by 5 doctors: is
your coverage as comprehensive?
“Hydroxychloroquine
is not on the list of medications” taken. Trump pumping up its maker stock
Trump
changing FDA safety standards vaccine use to get votes by Nov 3
Trump
blames Gold Star veteran families for his virus infection: “cemetery filled with losers”
Fradin-Read
thymosin not approved for virus: $400 cost for ‘wellness’ docs unproven
claims
Router
WiFi black holes? WiFi
Range Extender may help some areas
Expensive;
Least
dependable cars: Land
Rover, Jaguar,
Volvo
($77K): 200+ mistakes
Ford
bets on trucks, CVs after losing $ billions on cars: new CEO to lighten
costs worldwide.
Joseph
Gargan Pension Co stole $9,117,165
from annuity owners due from malpractice suits
Richard
Baldwin jeweler ordered
pay back $2.1 million insider-trading case; avoided jail
John
McAfee antivirus software
John
McAfee caught promoting cryptocurrency on twitter disguised
as financial advice
Adam
Hochfelder, caught
Ponzi scheme $400,000 Merchants workers
Gerald
Eaton MA caught stealing $3.7 million faking ID, signature, over 20 yrs; prison.
Casey
Kemerly VA caught
stealing clients from advisors; moved from state to state
Trump
to let hedge funds hide what investors are buying: even hedge funds are
against plan
Trump
to allow unregistered advisors to solicit us for high-risk private placement:
BEWARE
Trump
donor charged with being a foreign country agent: Malaysian and Chinese
paid $ millions
Is it a scam? Check AARP scamline 877.908.3360.
Check
IRS: https://www.irs.gov/newsroom/dirty-dozen-part-1-taxpayers-should-be-on-the-lookout-for-these-scams
https://www.irs.gov/newsroom/dirty-dozen-part-2-thieves-work-all-year-to-scam-taxpayers
Check Social
Security: https://blog.ssa.gov/
Jobs
Jobs
that will continue to grow: health care, computer-based, construction
3.8
million people have lost their employment for good. No GOP retraining plan
in sight.
Teachers
take more risks for less pay than college jobs: 20% less so must be mission
Job
losses could be permanent: start searching the adverts now before the
crowd: Indeed
Who owns your account now?
Miracles:
Trump
does not want another ‘debate’: Rally is better to scream in: reverse
negatives?
Some
Christians have been saved from burning in hell: saying ‘NO’ to more kids
in cages
Blood
Test for Alzheimer’s in reach: 2-3 years diagnosis test; not cure
GOP,
except one, wearing masks: surge of infections hits South; West
2000
year old brain cell still intact after volcano heat and quick cool
“Don
Jr. thinks Trump is acting crazy”: Jr fails to convince family. “They’re
all worried.”
IAN
41 Watchung Plaza,
B242
973.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
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