Friday, February 23, 2018

Did you lose money by selling?

Did you lose money by selling into the down market?
Most Vanguard mutual fund owners did not follow Wall Street’s advice to sell to avoid losses. Amid concerns that passive index fund investors would sell out of their positions at the first sign of a correction, clients at Vanguard showed little response to the stock market volatility of the past few weeks. Long-term investors (not speculators) don’t panic. They don’t do brokerage program trading. Vanguard announced that it had passed $1 trillion in 401k plan assets as of the end of 2017. Vanguard’s advice: Stay diversified.
      Tune out the noise.
      Control what you can—costs.
      Revisit your asset allocation.
      Set realistic expectations.
Maybe we all should listen. Stocks are on sale: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Why did Trump claim his wealthy friends hate him for the new tax law?
Most tax analysts say he lied about this claim. In fact, some project that Trump saved himself over $11 million with the stroke of his pen. The new bill allows people to deduct up to 20% of the income they get from pass-through businesses. Real estate investors like Trump obtain special benefits from the law. Most of Trump’s friends will benefit greatly from the elimination of the AMT and estate tax. Using estimates from his 2005 return, Trump would save $31 million each year. Plus his wife and kids get to spend all of the $3-10 billions he leaves instead of just 60% of his net worth. Wow, that is huge for most of his friends. We must conclude that Trump’s statement was ‘fake news’—he and his friends will pay less for years and run up our debt so much that we will need to pay more taxes after 2026. His plan gives permanent breaks to friends but ours would end in 2025.
Protect your future income using an IRS Tax Shelter: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Many corporations close US locations even with $millions in subsidies/incentives
Trump promised to bring back or save jobs for those with skills of the old America. But even after receiving tax-breaks, perks, subsidies and incentives of over $10 millions, Harley-Davidson will close its Kansas plan despite pleas from Congress. Why? Sales are down. 1000 of people will be affected. This was their American Dream—work for a great American company and enjoy the community built over the last 20 years. Even with foreign sales growth, net income plummeted by more than 80-percent in the fiscal fourth quarter of 2017. The Kansas output will move to York PA’s plant. Trump can do nothing about the changing demographics of customers. Take Intel chips. Why expand $5 billion plant in Israel? Disruptive change continues to benefit a relatively small group of mega-cap companies with dominant technology platforms. Robert Reich has pointed out that those who have lost their jobs to foreign outsourcing or labor-replacing technologies are unlikely ever to get them back. One study find that trade with China and the rise of robots are to blame for millions of the missing jobs. Other popular scapegoats, such as immigration, food stamps and Obamacare, did not even move the needle.
For those who found new jobs, the pay is awful. For instance, Ford will add 1,200 jobs in Chicago at HALF the pay current workers made when they started. Many people will lack the money needed to buy all the goods and services the economy can produce. The economy will slow and the Trump tax revenue will not meet his promises. Our taxes will need to go up to pay for the wealthy tax cuts.


Buffett’s SIMPLE investment strategy beats Wall Street’s best traders
He beat Wall Street ‘professionals’ with his strategy of just owning the market. Buffett's index fund gained 94% over 10 years. Protégé's selected funds gained 24%. His strategy provided over 11% since 1976. Your money doubles every 7 years. The Master of investing, Warren Buffett, proved it, again. You do NOT need Wall Street 'professionals' to reach your financial goals. In fact, if you use them, you may give up 63% of your potential accumulations because of trading, charges, commissions and fees. Buffett’s SIMPLE strategy earns over 11% per yearDALBAR keeps track of returns and found that the average managed-account equity investor earned just 3.79% a year over 30 years. The benchmark returned 11.06%. You and I can start beating Wall Street with one phone call. Earnings are tax-FREE after age 59 ½ in special account too.
Earn 11% a year with Buffett’s SIMPLE strategy: https://www.amazon.com/MasterClass-Buffetts-SIMPLE-Strategy/dp/1983485268


Will your 401k provide enough income in retirement?
Trump promised everyone would have more money from his new tax law. Will this help you have enough later on? Since our lower tax rates will be eliminated by 2026, you need to use your extra income to boost retirement savings now. Most Americans will NOT end up with enough to continue their present lifestyle after they stop working. Even now we see more workers re-entering the labor market because they need money. Surveys say 55 to 64-year-olds have an average of $104,000 and those 65 to 74 have $148,000 in savings. If that money were turned into a lifetime annuity, it would only amount to $310 and $649 respectively per month. Adding SS benefits of $1,342 a month would mean about $2,000 a month. Can you live on that?
The folks that have enough retirement income are those that put their investing on automatic: They had their pension, 401k, or IRA trustee debit their paycheck so that they were not aware of saving/investing monthly. Some employers even give them money. Our government lets us deduct these contributions during our lifetime so we avoid tax as we save. These folks have $5,000 a month not $2,000 a month to spend using automatic.
Have enough: https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016


Is it time to claim Trump’s 20% free profit with rental real estate?
The Trump tax law offers a unique opportunity to participate in tax-free earnings from real estate investments. Home values are climbing in most places but 2018 is not 2008 and you need to know the new rules. Smaller lenders want to lend if you have a 740+ credit score and over 20% down. Owner financing and HELOC loans are alternatives. Shop for foreclosure bargains. Make sure the rents cover ALL your expenses. Line up handymen for help. Hands-on owners usually have greater success. Use LLCs to protect your assets and collect your 20% tax-free profits. You may not benefit from the end to the AMT or estate tax like Trump, but rental real estate is one of the favorites of working millionaires. You can create a stream of income that can keep pace with inflation.


Best last minute tax saving move
Tax filing began Jan 29 even though all the forms are late in arriving. 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, Uncle Sam can help you reduce taxes 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 to see you have IRA.

Why some Americans can’t file … yet
Congress had second thoughts about their “well-crafted” tax law and so on Feb 9 they passed a 2019 budget with some extra “extenders” which expired in 2016-17 but were made retroactive in 2018 for 2017. Yes, they can do that. Anyway, if you have three of the ‘outlawed’ deductions, you will have to wait to file or file an amendment. The IRS was baffled saying, the IRS is “reviewing the legislation signed Feb. 9” and will provide information when they can. Meanwhile, if you bought storm windows and doors like I did, you wait for a new 1040 form. Currently, that line says "Reserved for future use." The IRS will have to destroy millions of forms and instructions to get it right. 18 million tax returns have been received and processed. GOP seems eager to waste as much tax money as possible given The Don’s tank parade and tax forms that could have been avoided. The parts that most likely impact us include extensions for:
  • exclusion from gross income of discharge of qualified principal residence indebtedness [mortgage modified/forgiven]
  • mortgage insurance premiums treated as qualified residence interest
  • above-the-line deduction for qualified tuition and related expenses
  • credit for nonbusiness energy property
  • credit for residential energy property
  • credit for new qualified fuel cell motor vehicles
  • credit for alternative fuel vehicle refueling property
  • credit for 2-wheeled plug-in electric vehicles [Zero’s “massive torque”]
If you own horses or a mine, there are goodies just for you here.
If there is a bigger refund or a cut in your bill, you can ask your preparer to fix it with a 1040X. You need to recalculate your old return and tell the IRS the changes only.
Congress was so busy last year repealing our health care, they didn’t have time for these.
I will file late for a couple of $ hundred extra. Congress ran up debt further to $21T. I used to be a Young Republican but they changed their beliefs, morals, ethics, standards.


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 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/
Use your refund to fund your tax-FREE IRS approved account: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

New cars lose 40% of value—are new cars worth it?
Many cars just last longer. Some claim 70% of their cars are still on the street. Used luxury cars have a history of reliability and safety. The first cars with disc brakes and all around airbags were luxury brands. New cars have more problems because of innovation and technology that may attract new buyers. Without a warranty, the consideration must be: how much time can you afford to spend without your ride? If we can spend or finance $16,000 for transportation, we have great choices. Shopping could not be easier. You don’t need to be good at haggling since all the information you need is online. Thus you get an idea of what your trade-in is worth at https://www.kbb.com/whats-my-car-worth/ and then look at the JK Power dependability stats at http://www.jdpower.com/press-releases/jd-power-2018-us-vehicle-dependability-study. Look up the best values in your area at https://www.cargurus.com/Cars/instantMarketValue.action and https://www.edmunds.com/. You can test drive anywhere but you may want to travel 60 miles to pick up a bargain. Is gas mileage or comfort your important criterion?

Why some people ‘buy back’ a state pension
A client worked in a state agency for years and left to take another job. 14 years later she got back into the state public education system. After another 14 years, she was about to retire but her pension would not have been as great as if she had stayed in the very lucrative state pension system. She was offered a chance to buy back the years she missed so her pension amount would be greater. At age 65 she had to pay $95,000 to get back those 14 years worth of pension credits. How did she do it? She used her one asset—mortgage-free home valued at over $250,000—to obtain a HELOC with no closing costs. Now her pension monthly income covers the HELOC and she may receive over $300,000 extra during her lifetime payout. Plus, the home equity loan interest is deductible.


****************
Make “The Don” Great Again

Jr didn’t so NOT ‘collusion;’ … but treason!

Trump Is 'Doing Putin's Job for Him' by Attacking our FBI: McCain
Mueller indicts 14 more conspirators for illegally helping Trump win election
How many other people can Trump blame for Putin’s meddling?

GOP House will never impeach their ‘Savior’

“I have absolute right to do what I want to do with the Justice Department,”

Bannon and I wish to “destroy the state”–our government: “I want to destroy
FBI doing its job following Kremlin ‘advisor’, Page, a suspected Putin spy



Trump can’t be a racist: he had a TV show”
“Why are we having all these people from ‘shithole’ countries come here?

‘I’m the only one that matters’ Mob Boss, Nov 3, 2017
The Don’s enforcers lie re: contacts to Putin and list longer: Why all the lies if innocent?

GOP suppresses vote: can voters make America normal again?

‘I was elected President.’ (to destroy ‘the state’)
Dictator’s greatest weapon is fear: Dems are evil (TV ad)





How Govt wastes our money:
Cutting regs means we pay for Black Lung treatment rising in miners again.
Trump gives military more than they asked for to prepare for nuclear war!
            Total US government discretionary spending in 2018=$1 Trillion.
This is how big companies bend our govt reps to give them a better deal: fake testimony,            staged events, fake publisher, revolving govt service, fake supporters, etc.

            Intruder fires 15-20 bullets a second but it takes over 2 seconds to shoot back.

SCAMS:
Digital Altitude/Aspire caught stealing $14 million from victims of MLM scam.
Apollo Mental Clarity endorsed by Ben Carson Trump’s Housing Sec. is snake oil.
RXBar & NatureMade Omega-3 Xtra Blend may make false claims about power.
SS is underpaying widows and widowers by $224M: they can claim survivor benefits

Many in the White House have been unable to gain full security clearance. Putin payoffs?

Jobs:
School safety money slashed in Trump budget--$25 million cut ends guard jobs.
Gun makers of AR 15 $361 hiring to make teacher guns to ‘protect’ schools.
VW to raise the wages of around 120,000 workers in Germany by 4.3 percent.

Who owns your account now?
MetLife has failed to pay pensions to retirees: MetLife got money to pay $86 billion but kept the money.


Buy your next car at Costco? Yes, they offer fixed prices from a local dealer. No haggle.

Miracle:
Unless Americans use absentee ballots, Putin will change votes in elections again.

GROW HUMAN ORGANS FOR TRANSPLANT AND EVEN CURE DIABETES



Acts of kindness from police: 2 troopers pay for flight of Parkland mourner.

Aaron Feis gave his life so that others might live.

Prevent school children’s deaths. Hunters kill innocent animals instead.

IAN
41 Watchung Plaza, B242
MontclairNJ 07042
973.746.2014
Alerts 

Friday, February 16, 2018

Trump Tax Shelter avoids future taxes

Trump promised to save Medicare for working Americans
As a candidate, Trump repeatedly said he would never cut Medicare, Medicaid or Social Security. Now he wants to cut Medicare by $554 billion and Medicaid by $250 billion. He will send Medicaid money to states to eliminate coverage for citizens they don’t like. He will cut the subsidies to millions who use the marketplace to buy insurance. His budget cuts funding for the National Dislocated Worker Grants – which provides support to those who lose their jobs because of factory closures or natural disasters and the Adult Employment and Training Activities initiative, which serves high school dropouts and veterans. Trump wants to cut $214 billion from the food stamp SNAP program in the next decade, a reduction of nearly 30%. He is reducing Section 8 federal housing subsidies by more than $1 billion, zeroing out community development block grants and eliminating a $1.9 billion fund to cover public housing capital repairs—no new boilers. 29 programs that aid poor children in education will be cut. Trump selling our airports, our lands.
There will be No cuts to subsidies for oil, gas, coal, agribusiness, drug firms, or arms manufacturers. War machine gets more than it asked for from Trump. Plus parades.

Trump’s attitude about both sides of the story
Trump suppresses the other side of the FBI story. Now he won’t release the other side’s view of the process of FBI surveillance of known Putin agent “advisor to the Kremlin” Carter Page. The irony is he wants sexual predators to receive ‘due process’—let’s hear the other side. However, he is not willing to let us read the Dems’ memo about the FBI.
The Don complains that wife beaters and sexual harassers like him do not get due process—we don’t hear why they beat and harass women since we don’t have assault trials. He favors hiring and praising wife beaters with tacit approval of the GOP religionists. He seems to believe that if a predator like Judge Moore claims an ‘absolute denial’ that that proves he was not a child molester. Does this not leave many Trump voters with more concerns about his ‘grabbing’ habits and paying prostitutes $137,000 for sex and twisting the ‘fake facts’ to his benefit? Lies about Tower wiretap.
Is there anything that gives ‘conservative’American’s pause? Not sexual assault, not prostitution, or not one-sided propaganda? Power corrupts absolutely.
Why can’t we hear from both sides for truth’s sake?  

GOP gives military-industrial complex $700 billion more
Americans vote for the conservatives because they promise to not spend lavishly. It seems the GOP has changed to the spending party. Senate leaders have reached a two-year deal that would set defense spending at $700 billion for 2018 and $716 billion for 2019. “I’d rather we didn’t have to do as much on non-defense, but this is an absolute necessity, that we’ve got these numbers,” said the Senate Armed Services Committee’s Jim Inhofe. Ryan has pushed for cuts in Medicare, Medicaid and Social Security in order to fund the increases but Dems resisted the cuts. Kentucky Republican Rand Paul cried about debt on Thursday after voting for the massive debt increases for his tax breaks earlier. GOP likes to borrow to pay their donors and then cut programs that benefit working Americans. The rich get permanent relief from future taxes while our tax rate reductions expire in 2026. GOP increases--not decreases--debt.


Best last minute tax saving move
Tax filing began Jan 29 even though all the forms are late in arriving. 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, Uncle Sam can help you reduce taxes 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 to see you have IRA.

Trump giving investment advisors another break
Trump’s SEC will not fine or censure your advisor for hiding the 12b-1 fees that mutual funds charge every year to pay for marketing funds to other people. They should be disclosed before you buy. Trump has given advisors a pass if they ‘self-report’ by June 2018. Advisors need to tell you that the class of shares they sold you benefits their firm and themselves and that there are cheaper shares available. In the past several years, the SEC has brought cases against nine firms over failure to disclose conflicts around the receipt of 12b-1 fees. Trump is removing safeguards in every agency. Manipulation by WS firms is rampant. Since no one sees the disclosures in the prospectus, you may not know that your advisor fees can take up to 63% of your possible accumulations.


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. The average refund is over $3,000. 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/
Use your refund to fund your tax-FREE IRS approved account: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

Why luxury cars are NOT selling
Why are sales of Mercedes, Porsche, Lexus, etc falling like a stone? Well-to-do buyers want something different. They want 707 horsepower, 10 speed luxury rides. What? Yes, if you can drop $80,000+ at a local lot, you want something to impress. BIG trucks are the thing. GM, Ford and Jeep are making more money. You can control 7 different road surfaces, use big chrome wheels, a power tailgate, cameras on four corners and an adaptive cruise control system like Audi’s. The seats are nice too.




****************
Make “The Don” Great Again

Trump Is 'Doing Putin's Job for Him' by Attacking our FBI: McCain

Our intel agencies: we’re under attack and Prez says no—aid and comfort to enemy?
Mueller indicts 13 more for illegally helping Trump win election

GOP House will never impeach their ‘Savior’

“I have absolute right to do what I want to do with the Justice Department,”

Bannon and I wish to “destroy the state”–our government: “I want to destroy
FBI doing its job following Kremlin advisor, Page, a suspected Putin spy



Trump can’t be a racist: he had a TV show”
“Why are we having all these people from ‘shithole’ countries come here?

‘I’m the only one that matters’ Mob Boss, Nov 3, 2017
The Don’s enforcers lie re: contacts to Putin and list longer: Why all the lies if innocent?

GOP suppresses vote: can voters make America normal again?

‘I was elected President.’ (to destroy ‘the state’)
Dictator’s great weapon is fear: Dems are evil (TV ad)



How Govt wastes our money:
FEMA spent $156 million for 30 million storm meals. Scamer T Brown delivered 50,000.

GOP votes to “ask” our ‘reps’ to repay us when we pay for their ‘sexual’ settlements.

Would your lawyer pay $130,000 for your prostitute out of his own pocket? We paid!S

SCAMS:
Trump VA: Cabinet on junket at our expense and conflicts of interest abound.
How many hunters need an AR-15 and 30 round mags to kill their prey?

Jobs:
Trump’s 2019 budget kills several agencies, grant programs, institutes. Many job loses. Cuts to opportunities in rural communities, locally-developed economic plans, before- and after-school programs, college preparation for low-income students and 25 more.

Another wife beater opening in Trump WH—“only the best” fact deniers need apply.

New nuclear cruise missile workers go to Orlando for 1800 jobs. War is planned.

Who owns your account now?
Something wrong with this picture of America: not ‘Make American Great Again’

Miracle:
Unless Americans use absentee ballots, Putin will change votes in elections again.

It would be a miracle if Congress could stop children killing other children. 17 more die so that some wealthy white men have freedom to kill with 30 rounds a minute. Madness!

IAN
41 Watchung Plaza, B242
MontclairNJ 07042
973.746.2014
Alerts

Friday, February 9, 2018

What are you doing with your tax cut?

What are you doing with your tax cut?
Why not use this FREE money you did not expect, to secure your retirement nest egg? Warren Buffett makes it easy using a SIMPLE Strategy 
He beat Wall Street ‘professionals’ with his strategy—22% in 2017; 11.11% since 1976.
The Master of investing, Warren Buffett, proved it, again. You do NOT need Wall Street 'professionals' to reach your financial goals. In fact, if you use them, you may give up 63% of your potential accumulations because of trading, charges, commissions and fees. Buffett’s SIMPLE strategy earns over 11% per yearDALBAR keeps track of returns and found that the average managed-account equity investor earned just 3.79% a year over 30 years. The benchmark returned 11.06%. You and I can start beating Wall Street with one phone call. Earnings are tax-FREE after age 59 ½ in special account too.
Earn 11% a year with Buffett’s SIMPLE strategy: https://www.amazon.com/MasterClass-Buffetts-SIMPLE-Strategy/dp/1983485268

How do you know if this is a market correction?
You don’t know when it will occur. Nobody does. So, like any accident—unforeseen event—we must be prepared. We must have our portfolio so arranged that we know what will happen in a correction and we can live with it. Actually, many investors have seen this before and realize they have no alternative because there is no ‘safe’ investment. Wall Street creates these dives by using program trading to capture the ups & downs. Investments in different segments perform well over time—just not all at the same time. http://www.mymoneyblog.com/wordpress/wp-content/uploads/2018/01/callan2018.gif.
Thus, last year every segment did well but in 2008, every segment did poorly except bonds. However, some segments did worse than others and then made it up the next year. Bonds remained at the bottom as they usually do. Only a few lucky advisors timed the market in 2007 to go into bonds and avoid the carnage. Buffett says “be greedy when others are fearful.” Now is the time to fund your 2017 IRA.
 
Is your Robo-advisor up to the task?
Many Robo advisors were just not available when the market changed direction quickly last week. Human advisors were hard to reach also. These advisors get paid to be there especially in a market downfall but they were AWOL. Why are you paying for advice which you don’t get at the MOST crucial time? It is something to ask yourself. Does it matter to you that their equipment can’t handle the calls or they are out sick. The point is you pay 1-2% of your assets EVERY year, not for the ‘tip sheet’ or special opportunities but for the hand holding when the bottom falls out of the market. Almost no security was sparred this time. Did you get an email or call reassuring you that you are in the market for the long-haul? Did your Robo explain that you had discussed what to do in a correction? Did your advisor remind you that your special opportunity might evaporate if the market went against you? Why pay for help you don’t need AND don’t get?

What happens if you have dispute with your broker/advisor?
You can file a complaint. You can hire a lawyer to plead your case to the FINRA—that broker-dealer ‘self-governing’ body. Only industry that Fed lets owners police themselves. You can win arbitration and have the record show you have an award. However, 30% or more monetary awards to investors in arbitration claims go unpaid, the self-regulator said. “It’s crystal clear this is and remains a huge problem for FINRA and therefore for investors,” says PIABA President Andrew Stoltmann. Deregulation by Trump allows your advisor to easily remove the record of their misdeeds. Bad brokers welcomed by firms that need revenue. Your broker/advisor has multiple lawyers paid big bucks to defend them. Brokerage failures are excused. Firms avoid fines with lawyers.
   

Best last minute tax saving move
Tax filing began Jan 29 even though all the forms are late in arriving. 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, Uncle Sam can help you reduce taxes 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 to see you have IRA.



IRS free tax filing sites to avoid $300+ cost of filing
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. The average refund is over $3,000. 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/
Use your refund to fund your tax-FREE IRS approved account: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

Are you able to take advantage of the new 20% deduction?
Accountants are hard at work with Trump’s new tax avoidance angle: A 20% deduction for pass-through businesses. If you have your own business or could have it, your accountant is quickly working out how you either put all your income/assets into one entity or cutting them up into several. The model for this tax avoidance scheme is Trump’s own empire. He develops or owns real estate, runs properties for others, name royalties, sells beef & perfume, runs events and jets and TV productions. Because he has global reach, his profits may stay overseas or be taxed at lower rates inside subsidiaries or pass-throughs like LLCs. He may avoid tax by putting his profits in a subsidiary and then bankrupting the business debts. He did that in 1995 and avoided tax for years after.

Where are the Trump tax cuts going? Not for jobs
Twenty-seven of our biggest businesses have already spent about $100 billion buying back stocks from shareholders in 2018, a move that shows how the new GOP tax law is primarily benefiting wealthy Americans and large corporations, says a new report. “Firms already had access to all kinds of cheap investment capital, even before the tax plan,” said economist Jared Bernstein. At a news conference in late December, Trump cited Wells Fargo's decision to increase wages and charitable giving; changes the company says will cost about $215 million. In January, the bank announced about $22 billion in corporate share buybacks. Corporate buybacks involved more than 100 times as much money. So, let’s be honest. Tax breaks help the wealthy. Working people will get taxed.




****************
Make “The Don” Great Again

GOP House will never impeach their ‘Savior’

“I have absolute right to do what I want to do with the Justice Department,”

Bannon and I wish to “destroy the state”–our government: “I want to destroy
FBI doing its job following Kremlin advisor, Page, a suspected Putin spy

Trump Is 'Doing Putin's Job for Him' by Attacking our FBI: McCain


Trump can’t be a racist: he had a TV show”
“Why are we having all these people from shithole countries come here?

‘I’m the only one that matters’ Mob Boss, Nov 3, 2017
The Don’s enforcers lie re: contacts to Putin and list longer: Why all the lies if innocent?

GOP suppresses vote: can voters make America normal again?

‘I was elected President.’ (to destroy ‘the state’)
Dictator’s great weapon is fear: Dems are evil (TV ad)


How Govt wastes our money:
Trump to spend $ millions on DC military parade for his gratification like Putin Un Adolf


GOP votes to “ask” our ‘reps’ to repay us when we pay for their ‘sexual’ settlements.

SCAMS:

Carter Page, advisor to Trump, targeted by FBI, calls himself “advisor to the Kremlin
FBI wiretap on agent Page was reason Trump blamed Obama for wiretap of his phones

Pentagon lost $800 million in payments to contractors: “little idea where money goes” And 60% of new budget goes to military to make some GOP people even richer.

Bannon ignores Congress subpoena but not arrested. Can we do that? No law & order.

Jobs:
Recent job data shows older workers getting back to work. 797,000 people over age 55 found a job in December.

Trump is looking for a wife beater to fill a WH position—no need to pass security check. 


Who owns your account now?

Miracle:
FoxNews admits TrumpNunes memo does NOT vindicate Trump; shows FBI doing job

IAN
41 Watchung Plaza, B242
MontclairNJ 07042
973.746.2014
Alert