Which type of broker/advisor is best for you?

 

Can I use my Roth IRA as my emergency fund?

Sure—you already paid tax on the money you contributed to a Roth IRA. However, there are a few rules to follow. When you withdrawal Roth IRA funds for an emergency or any expense, take the “contributions” first. Your custodian usually has a record of what you put in versus what that money has earned. Contributions can’t be taxed again and there is no penalty even if you are under 59.5 years old. If you are older, there is no tax either. Make sure you tell the custodian that you plan to put the money back in 60 days so they code the withdrawal properly. You are allowed only one rollover per year. Logically, you want to keep your Roth IRA emergency money in a money-market fund. However, many folks begin making contributions to a balanced (stocks and bonds) fund so they can build up the amount over time. Periodically move money to a Roth IRA MMF. When you need funds, make sure the money can be transferred to your bank account quickly. Do NOT let them take taxes out—you paid taxes on this money already. Don’t let them cut a check that you won't get for weeks—they like to hold the cash in their account as long as possible. You can even use this fund to pay no taxes later in retirement.

Build your tax-FREE account: https://www.amazon.com/Your-ZERO-Tax-Account-Wealthy/dp/1482772795

 

Which type of broker/advisor is best for you?

If we could know the future, this would be an easy decision. Bernie Madoff just died but his fraud is a lesson. Madoff pleaded guilty to 11 crimes: defrauded as many as 37,000 people in 136 countries over four decades. Mr Madoff was chairman of one of Wall Street’s regulators at one time. His investors gave him tons of money to invest because he promised to do his best and his creds were above many other advisors. Each week I document the many scammers in my old industry. There is no guarantee for investors. As a broker dealer manager, I saw how good well-meaning sales people can veer into trouble. Why? There are few safeguards in money-handling sales. The product is invisible. One is the designation called CFP. CERTIFIED FINANCIAL PLANNER™  Like a lawyer, they work for fees not commissions. The other way to help you avoid a Madoff type scam is to use a fee-only securities provider. Vanguard Group offers products via a unique corporate structure: We investors actually own the funds we invest in. There is no middle person/firm to take profits. Vanguard has salaried non-commission licensed “crew members” to help us. And Warren Buffett, one of the greatest investors, recommends Vanguard Funds. Use a less biased advisor without an incentive to steal.

Make Buffett be your advisor: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

 

We don’t have to pay off the $1 Trillion in taxes that the wealthy owe

The actual annual tax gap possibly exceeds $1 trillion per year, IRS Commissioner Charles Rettig told senators Tuesday. You and I know why the Congress does not do anything about it. Congress receives funds from the wealthy that let them hide their money from the rules that we must follow. We can’t afford to hire lawyers and accountants to set up offshore and intricate legal entities to obscure income. Remember how President Trump boasted that he doesn’t pay taxes because he is ‘smart’. Actually his staff is paid to hide his income. Since we only have one year available to see how he does it, we know one method—use the paper losses of a business to write off personal income. In the 1995 return he claims a loss of almost $1 billion: we taxpayers owed him a refund for many future years of his personal income. For the wealthy, even the ones that don’t hide income, the rules allow them to pay about HALF the rate we pay. Warren Buffett explains that he pays only 17.7%; HALF the 33% his staff pays. We have two ways to avoid paying for the national debt that the rich have run up. ONE: we start by using a business to cover some expenses and let the loss offset our income. TWO: we produce income inside a tax-FREE account. We produce tax-FREE income legally.

Start today: https://www.amazon.com/Tax-Free-Living-2012-strategies-build/dp/1477452702/

 

Is there a correct number of stocks to own?

Sure! Just one if you were Apple’s Steve Jobs or Microsoft’s Bill Gates or Amazon’s Jeff Bezos.

But most of us including Warren Buffett can’t know which stock will be the top grossing stocks of all time. So here is the answer as explained by Mr Buffett and his partner Mr Munger:

We like to put a lot of money in things that we feel strongly about. And that gets back to the diversification question. You know, we think diversification is - as practiced generally - makes very little sense for anyone that knows what they're doing. Diversification is a protection against ignorance. For most of us who know we do not know how to analyze businesses, we buy everything—an index of the top 500 stocks. If you know how to analyze businesses and value businesses, it's crazy to own 50 stocks or 40 stocks or 30 stocks, probably, because there aren't that many wonderful businesses that are understandable to a single human being, in all likelihood.

Charlie Munger said: The first rule of compounding: Never interrupt it unnecessarily.

If an initially very concentrated portfolio is likely to turn into an unbearably concentrated portfolio after a few years, then it's not really built with the long term in mind. So if you are clear on what you DO NOT KNOW, compound the index for 11%.

Buffett strategy: https://www.amazon.com/MasterClass-Buffetts-SIMPLE-Strategy/dp/1983485268

 

Which market sector will provide the best returns in the future?

Since we can’t know what is ahead and we can’t assume the future is determined by the past, which sector are you betting on? ETFs have become the broker/advisor security of choice so that they can trade every day. However, most serious investors know that fast trading prevents you from enjoying multiple-year compounding and dividends. So which one do you favor for the future? Energy is the current leader but can it return 30% in the next few years. Or will it fall out of favor like consumer staples? Unless you know your business sector well or have Mr Buffett’s talent for analyzing large companies, you may be better off skipping your broker/advisor’s recommendations and just holding a low-cost index of large or small, growth or value stocks. Actually the most popular choice is the large company stock index. John Bogle, founder of Vanguard Group, created the simple 500 index fund because his research showed it was better for us to avoid trading by expensive stock pickers. Investing does not have to be complicated.

Simple wins: https://www.amazon.com/Buffett-Bogle-Holy-Bible-Investment/dp/1523693045

 

How to “guarantee” a tax-FREE retirement income

Put your investing on automatic. Use Buffett's Investment Strategy: Set it and Forget it "… our favorite holding period is FOREVER.” Manage the account only once a year! Contribute $9 a day, $250 a month. Accumulate $55,000, $200,000, $1,000,000 over time. Use a special IRS account for Tax-FREE income. Use only low-cost high-return mutual funds. Warren Buffett's Investing Strategy is buy and hold FOREVER high earning companies. This allows compounding to work. Compounding is money earning money on its earnings when it is invested. Invest your money in businesses sharing profits with you and over time you can reach $1,000,000. A special account makes it tax-FREE. Tax-FREE is like a $300,000 bonus. When we invest in successful businesses, we can earn 10% to 12% a year. After 10 years, we can have $55,000 because the businesses paid dividends and we reinvested them. After 20 years, we could have $200,000 and after 33 years, perhaps $1,000,000. Over time, stocks are safer than bank CDs because we earn more than inflation subtracts. We have more buying power. Compounding works best when we put our money to work in successful businesses paying us dividends and stock splits. When we use a low-cost AND tax-FREE account, we avoid fees and taxes so we keep more of our money to compound. See how fast our investment can grow if we invest it in businesses like the ones we use every day.

https://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900

 

Where is that refund?

The Internal Revenue Service today reminds taxpayers that the most convenient way to check on a tax refund is by using the “Where’s My Refund?” tool at IRS.gov or through the IRS2Go Mobile App.

Where is the stimulus 1 or 2? If you did not receive stimulus 1 or 2, start filing here: https://www.irs.gov/newsroom/recovery-rebate-credit.

Estimated tax payments are still due April 15. If you are self-employed or do not have enough withheld from a paycheck, pension or Social Security, you may have to send quarterly payments to the IRS. Tax returns for 2020 are due May 17 not April 15 but the estimated tax payments are still on schedule.

IRS will redo your taxes and send refund if you paid tax on Unemployment 2020 or you paid ObamaCare’s excess advance premium tax credit repayment. 

 

Have tax forms; will file … for FREE but WAIT . . .

If you have unemployment income, ObamaCare coverage you should wait to file since the IRS has not yet implemented tax-FREE provisions of the new Covid law. If you already filed and paid tax on your unemployment income, IRS says it will send you a refund of the tax automatically. DO NOT FILE an amended return to obtain a refund on this tax. Taxes due MAY 17 not April 15. Input the W-2, unemployment, SS benefits, IRAs, pensions, RMD, brokerage, etc. forms you have. You can file for FREE online. If you didn’t receive a correct form, file a Form 4852.  Usually filing your state return costs as little as $15 unless you buy the Pro helpline. Avoid $300-400 paid preparer fees—new IRS forms mean higher fees. Unemployment insurance is TAXABLE on the Federal income tax return; not on some state returns. Some states do not tax your SS and pension benefits.

 

Retirees did not have to take their RMDs in 2020 so taxes may be less: it was a good time to convert IRA to Roth IRA for tax-FREE future. Unless you were self-employed, you can’t deduct home office expenses of working from home. You can deduct as medical expense all Covid prevention supplies. Some states continue the health insurance mandate and penalty unless you have an exemption. Since the IRA contribution deduction has no age limit now, you may reduce your income/taxes by making a contribution of up to $7,000. The standard deduction went up to $12,400 single; $24,800 joint. Jan 15 last day to make 2020 estimated payments. You have to report your April/May and December/January stimulus payments even though they are not taxable. Some of us receive a bank credit; some a debit card; some a check. Even if you don’t have to file, you should file so scammers can’t use your SS number to mess up your IRS file. Tested E file software ratings. Efile Jan 15; IRS processing Feb 12.

E file avoids covid at your preparers’ office: https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free

 

What to do if you can’t pay by May 17?

Avoid the penalty for not paying estimated tax. Ask for an automatic extension to file till October. If that does not work for you, you can apply for a payment plan. An individual can setup an IRS installment plan if you owe $50,000 or less and can pay back the amount owed in 3 years. If you are a business owner, you can setup an installment plan if you owe $25,000 or less. The IRS will charge a one-time fee of $105.

If you own less than $25,000 and can pay the amount owed within six years, ask the IRS for a streamlined payment agreement. The IRS will charge a one-time fee of $102.

Request an Offer in Compromise if you cannot pay the total amount owed. This allows you to settle your tax debt for less than the total amount owed if you will be unable to pay back the total amount owed within 10 years. The IRS will charge a one-time fee of $150. Given the pandemic economic hardship, apply for the extension to file now: https://www.irs.gov/pub/irs-pdf/f4868.pdf

Special circumstances help: call the IRS Taxpayer Advocate Service 1-877-777-4778 for free assistance.

More ways: https://www.irs.gov/newsroom/heres-how-people-can-pay-their-federal-taxes

 

IRS has $1.3 billion refunds for 2017 tax returns

Unclaimed income tax refunds worth more than $1.3 billion await an estimated 1.3 million taxpayers who did not file a 2017 return, according to the IRS. “Time is quickly running out for these taxpayers. There’s only a three-year window to claim these refunds, and the window closes on May 17.” If they do not file a tax return within three years, the money becomes the property of the U.S. Treasury. Filing instructions are available on the IRS.gov Forms and Publications page or 800-829-3676.

You have 45 days to collect your cash!

 

 

**********ACCOUNTABILITY**************

 

 

Like 1776, this period is a test of democracy—We rejected an "American fascist"

 

Swing state GOP laws limit Dem voting: “only way to win”

 

Will the ‘militia’ (terrorists) try another coup?

 

1/6/21 Coup: “quick reaction force” with weapons ready

 

Trump delayed helping: Capitol Police died

 

 

Where ‘Truth and Reconciliation Commission’? 

 

 

How Govt wastes our money:

MS, AR, TN, AL, GA have unused vaccine slots: GOP deny Covid danger

40% Marines afraid of vaccine shot: Pentagon costs of health care to rise so we pay more

FedEx made $1.2 BILLION in profits last year but paid NOTHING in federal taxes

 

IRS fails to collect $1 Trillion in taxes from wealthy tax avoiders: we must pay

Can we really leave and stop wasting taxes in Afghanistan? Still paying for 5000 bases!

Biden seizes owner’s land on Rio Grand to continue Trump’s Wall? Promise to stop!

 

SCAMS/SPINS:

Christian nationalists raise $ millions for domestic terrorists: GiveSendGo pays killers

Unvaccinated people much more likely than the vaccinated to say it's safe for them to travel?

MN police say they don’t know the difference between their guns and their tasers: taser on left?

 

Trump hides taxes: used Prez excuse when Prez; now uses not Prez excuse when not Prez

 

Head of FBI’s field office in Albany promoted after sexual assaults on 8 women: no jail

Anthony Wayne March NC caught Ponzi fraud promised tax-deductible annuity 11 yrs

Tiger Woods caught speeding according to his car computer but no violation: spec treat?

$2.75/dox eggs just as nutritious as organic/’free range’ $7.49 eggs Marketplace 

 

AAA cramming donations into roadside service bills: use credit card customer service

Amazon scam: fake promise of refund takes hold of your computer for bank access

Phony IRS email to take your personal information to claim your “tax refund.”

SettleIt caught steering us into high-cost loans offered by affiliated lenders: fine no jail

 

Costco fake offers hit on all levels: BEWARE ‘free’

Twisted fake views feed propaganda of haters: they wouldn’t print it if it were false

Bitcoin can be spent at nightclub: now you have a place to dump your non-money money

 

6 GOP and Asian hate crimes bill: Cotton, Hawley, Cruz, Marshall, Paul, Tuberville.

 

IRS: Easy Steps to Protect Your Computer and Phone and Avoid Phishing Emails.

IRS: Free special ID protection PIN goes on your return so scammers can’t take refund

IRS: Previous tax returns available online: https://www.irs.gov/individuals/get-transcript

IRS tips to avoid scams: https://www.irs.gov/newsroom/tax-scams-consumer-alerts

 

Is it a scam?  Check AARP scamline 877.908.3360. BBB Scam tracker

 

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

Find tax preparer: https://www.irs.gov/tax-professionals/choosing-a-tax-professional

 

Check Social Security: https://blog.ssa.gov/

Safeguard data: ConsumerReports help: https://securityplanner.consumerreports.org/

 

Jobs

Amazon keeps union out and wages//benefits low

Most marines decline vaccine for Covid: 40% wait and see if vaccine needed

Your employer may have been paid to keep you at work: show them and take your pay

 

25 high pay jobs to reach for the future: plus machines can’t replace skilled trades!

 

Who owns your account now?

You will pay significantly more to insure homes in coastal areas and flood zones

laid-off workers can keep their employer-sponsored health insurance thru Sept FREE.

Your children may obtain FREE coverage too.

 

Funeral bill covered if Covid related death: 1 less thing to worry about

Now your personal ancestry data is owned by brokers at Blackstone

 

Miracles:

Sea levels could rise as much as 60 feet from melting ice sheets: move Miami?

herpes virus modified defeats child brain cancer cells: new hope for rare cancer.

Biden ends Trump’s racist housing rules: fair housing is a right for non whites too

 

Biden to end longest US war: 2,400 dead; 20,000 maimed plus 2,977 9/11 dead

Or is the US just going undercover: advisers, black ops, Osama strike force?

Troops to Ukraine next?  500 more German staging area: over 35,000 ready.

 

We can apply for Medicare online: https://blog.ssa.gov/apply-for-medicare-online

We can apply for Social Security online: https://www.ssa.gov/benefits/retirement/

We can apply for health care online: https://www.healthcare.gov/

 

 

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

 

 

So how does your advisor broker survive on $0 commissions?

Happy Holiday

So how does your advisor broker survive on $0 commissions?

There is no FREE lunch especially in financial services. Schwab paid its chief executive, Walt Bettinger, an 8.9% compensation hike in 2018 to $15.6 million (down from 2016 of  $19.54 million), about 150 times the firm’s median employee pay of $104,281. Charles gave himself $6.05 million, up 9.6% from 2017. Like others, Schwab had a profit margin of 45%. So how do we give them so much money if not in commissions? Firms execute others’ trades: Selling order flow. Firms earn interest on your cash. Earn from loans: margin trading and options trading. Earn from money management accounts: quarterly fee for ‘holding’ your money. Securities lending: covers shorts. Remember, most firms have such huge economies of scale that trading millions of shares a day at only 10 cents each is worth $ millions for senior management. Some firms are market makers and so have a virtual monopoly on certain markets. For instance, two former Deutsche Bank traders were found guilty of trying to rig a key lending benchmark (LIBOR) that was considered one of the most important barometers of the world’s financial health. Some brokerage firms are also capital creators selling IPOs: the stocks of new companies for big fees. There is no need to pay for advisors. Amateur traders usually lose money. Most smaller active stock managers may become history since beating an index is too hard.

Avoid making Wall Street richer: https://www.amazon.com/Pimps-Wall-Street-money-middlemen/dp/151525254X

Congress just gave insurers and salespeople a big bonus

They passed the SECURE Act, "The SECURE Act will make it easier for employers to offer as part of their retirement plans annuities that provide a guaranteed stream of lifetime income," says an insurance lobbyist. Employers and their retirement plan person can entice us into high-cost plans that lock up our retirement dollars into an insurer’s vaults. Using industry trick-phrases like “guaranteed income you can’t outlive” and misleading charts with best possible outcomes, employers can wash their hands of any future responsibility for the inevitable low payouts down the line. For instance, when we chose an annuity of $1000 a month in 2020, we will have no recourse when it buys only $500 a month benefits later on. Currently, a retiree can shop and buy the best annuity deal out there with their money. Under SECURE, employers will be able to escape any future lawsuit when an annuity ‘guarantee’ goes wrong. We are NOT secure with SECURE.

Learn the annuity facts: https://www.amazon.com/Annuity-Decision-Tree-questions-answers/dp/1546454497

How much IRA money should you convert to Roth IRA?

If you have a good idea how much income and thus tax you will pay for 2019, you can calculate how much IRA money to convert. If you file jointly, your $100,000 earned income puts you in the 22% bracket. With the standard deduction of $24,400, you can estimate the amount of IRA income to be taxed on for the year. You can convert to a Roth IRA as much as you can afford since the $7,000 limit on contributions does not apply. Example: $100,000 - $24,400 = $75,600. With $5,000 added income (SS, pension, interest, dividends, gains, etc) you can convert up to $88,000 without hitting the 24% bracket. Of course you will owe an extra $19,360 tax on top of the $17,600 AGI income tax. Pace it out over time. Use the FREE efile software to calculate: https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free: now open: https://www.freetaxusa.com/ .

Pay no tax in retirement: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

How much will you be required to withdrawal from your IRA 2020?

IRS expects those over 70 ½ years old with a traditional IRA to take a certain amount out and pay tax on the taxable amount. Your IRA trustee or custodian reports your year end IRA account balances to the IRS and if you allow, calculates your RMD for the year. IRS tables tell us the divisor based on your assumed longevity. RMD is the ‘minimum’ you need to acknowledge and pay tax on. You can take more and pay more tax now. The IRS leaves it up to you to report how much of the RMD is taxable each year. Some people added already taxed money to their IRA (before the Roth IRA) so no need to be taxed again. You can adjust that RMD by removing money from your IRA and paying more tax before year-end. You might do that if you have no income other than SS benefits or you had to meet an emergency. Reducing the IRA balance by year-end will lower the RMD for the rest of your life. Thus if you have a $100,000 in your IRA your RMD is $3,773.58 because you are expected to live 26.5 years more when you are 71. If you took out $20,000 the year before the calculation, your RMD would be $3,018.87 the following year.

Know your options: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

How to fight health care overcharges by your providers

Recently I got a bill from my colonoscopy provider. I thought all screening procedures are FREE since my expensive health care plan is usually excellent. My employer told me on my W-2 box 12a that my shared cost was $26,920.68. I did some research and printed out the FREE screening protocols for ACA ObamaCare compliant health plans. The ACA Preventive health initiative by Obama is meant to reduce long-term costs by catching problems early. I assumed my provider knew this when I confirmed that all the costs of my procedure would be covered. So I sent a copy of the ACA regs to the provider’s billing address with a note that I was covered. They just sent more bills and emails for months. The doctor’s office ignored me. Like in the movie Rainmaker, we pay premiums and the insurer-doctor complex assumes we will give up fighting. Since I knew they were wrong, I wrote a letter to the CEO of my insurance company asking him to pay the bill and set the provider’s billing clerk straight. They called the provider group HD and told me I would not get another bill. Most people would just give up and be sued and perhaps be thrown into bankruptcy. It happens a lot since we have no power against the insurer-doctor complex.

Know what you are buying: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Vanguard cut fees AGAIN

Vanguard has cut some fees 20% for funds and ETFs. Why is that important? Over time you will earn and KEEP substantially more of your hard-earned money. If you are investing for the long term, you could give up $143,000 on $10,000 deposit with that 20% extra fee. Compounding the extra fees works for your advisor just as well as it can work for you. This fact never comes to mind for most of us because our employer’s HR person never tells us exactly and completely what our 401k or 403b investments cost. Some of them don’t know. Most of us have no idea which options are best for us when we start our plan. Some employers don’t even look at fees when giving the plan advisor the annual check up. Even if they know what the fees are, they don’t care because WE are ones paying them. It comes out of our earnings even before our earnings are credited to our accounts. We don’t see them. Our employer has the fiduciary responsibility for choosing the best options for US not the advisor. However, most employers don’t take their duty seriously and this has led to many lawsuits. Over time, this can cost you over $100,00 in lost earnings on your invested money.

Check your options: https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966

**********ACCOUNTABILITY**************

Like 1776, this period is a test of democracy—do we really want ‘low-IQ’ Mobster?

GOP losing members and identity

GOP already drank the Kool-aid: no evidence necessary:

Mob boss never has live witnesses!

Letter by 700 impeachment experts

Trump’s desperate ‘jailhouse’ letter

Trump personal attacks on dead Congress member’s family: “look up” from hell

How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have! 

35% charter schools funded by federal Charter School Program never opened or shut.

$ Trillions: Afghan army incompetent, poorly trained, corrupt, riddled with infiltrators.

Trump fights for his useless WALL instead of lower drug prices from drug companies

Can Congress do something worthwhile? 54.6 billion spam phone calls placed.

Why can’t Trump negotiate lower drug prices or buy from foreign countries?

Trump will reduce SS benefits for the disabled: cuts to pay for tax break for wealthy

Medical fraud is easy: scammers have taken gov (us) for $ millions.

SCAMS/SPINS:

McConnell GOP bending down to Giuliani’s ass for impeachment: Judge Roy Bean

Supremes help Trump hide his Russia money-laundering till 2020 and beyond.

Truth is the greatest victim of this fight to the death for GOP view of ‘democracy’

Putin has Trump’s back: Russian dictator echoes GOP “made up reasons” Ukraine did it

GOP compares Trump to Jesus: Trump treated worse, GA rep says. Lincoln shot.

Voting machine makers can’t account for security of our voting tabulations

WI removes 234,000 DEM voters from rolls to assure WI goes to Trump again.

GA takes aim at eliminating 309,000 DEM voters: voter suppression for 2020

KY went Dem and removed Medicaid work restrictions placed by GOP recently

Jeffrey Friedland promoted weed investment w/o disclosing he got paid fined $4.2million

Windhaven Insurance FL insolvent taken over by the state for lack of surplus funds

Mormon Church caught using the tax-exempt donations to prop up a pair of businesses.

MetLife caught cheating annuity beneficiaries out of $ millions: Fine, no jail time.

Robinhood broker order flow failed to guarantee receive best prices: cheap but not best

Samuel Lek caught manipulative trading for foreign traders using master-sub account

Ryan Skinner caught using scheme to have seniors liquidate securities to buy annuities

BEWARE: Advisor sells annuity promising LTC benefits: pay extra 1% for no coverage.

QBI ends in 2025: Roth may be better tax-advantage later than 20% cut now

Harvey Weinstein accused sex criminal has his insurance pay 30 victims $47 million 

Hype of 5G: different types may not match your phone, coverage areas, speeds-too early.

Antidepressant use by children jumps more than 20 percent after a school shooting

Who owns your account?

Don’t take your phone to do your crime: Govt will find you using Google data.

Govt will take your legacy if your heirs don’t withdraw and pay taxes in 10 years.

Fiat Chrysler and Peugeot merge: Fiat family run with French twist

Jobs

Retirement isn’t for everyone: some people just have to work—it’s their joy.

Employers tricked by health insurance brokers so we pay more

Miracle:

Oceans getting more acidic: CA waters double the global rate. Australia hits 105.6.

Impeachment rallies: #NotAboveTheLaw rallies

Pope finally turning over criminal child abuser files to the police only IF requested.

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

You and I will pay more tax: our tax cuts reversed in 2019

You and I will pay more tax: our tax cuts reversed in 2019

A deeper study of the bill shows the benefits for workers are thin. Trump has promised Americans “huge” tax cuts, but only 44 percent of taxpayers would see their tax bills reduced by more than $500 in 2019, according to JCT's analysis of the winners and losers in the plan. 62% of Americans would get a tax cut of at least $100 in 2019, according to JCT. 38% would either pay about the same in taxes as they do now or get a tax hike.

But by 2027, just 16% would get a tax cut of at least $100. See chart https://www.jct.gov/publications.html

Cuts in Social Security and Medicare Medicaid coming to fix deficit, says Rubio. GOP is so desperate they promise future increases if no growth but no ‘rep’ would raise taxes.

Time to use your IRS tax-Free trust: https://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

Why are none of the corporate subsidies and loopholes repealed?

“I had visions that they were actually going to remove the methods by which many corporations pay only 10% in taxes now.  (But) what they’re doing is they’re leaving in all those goodies that minimize corporate taxes, and (they’re) lowering the corporate rate.” Senator McCaskill (MO)

REAL Reform could mean that little card Trump held up. Every entity—household, corporation, LLC, pass thru, partnership, sole proprietorship—will pay tax of 10% of any type of income—wages, gains, royalties—all revenue from ANYWHERE in the world. There are NO more subsidies, loopholes, deductions, child credits, energy credits, waivers for paying foreign governments, deferring stock awards, etc, etc. Destroy all 74,608 pages of the code plus the new 429 pages. Until Congress stops giving money to the donor class, avoid tax with credits.

Use your tax credits: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

Wealthy and corporations will still hide their cash overseas

Would you rather pay $0 tax or new 20% rate? Apple just put their profits in Normandy and Trump’s cabinet hides their taxable income in ‘Paradise’ according to their law firm.

Economists say that there is little enforcement of tax evasion so the downside is not bad—usually just a small fine. The chance of getting caught is almost nil and now even better odds since The Don named a tax evasion lawyer to head the IRS. Economists say the only way to stop evasion is to get all countries to report foreigner bank accounts or jail the lawyers who set these schemes up in the first place. Either option is not likely to work so the wealthy and corporations will continue to send taxable income overseas and avoid paying their fair share. They still use our roads, airports, internet, military, courts, fire and police but don’t pay for them. Time for you stop paying THEIR way.

Use your legal tax shelter: https://www.amazon.com/Your-Tax-FREE-Account-IRS-approved-shelter/dp/153735292X

Is a Robo-Advisor right for you?

This form of investing is growing in popularity. Essentially, you pay less than a full-service firm for a standard portfolio created by a Robo company. If you are a regular investor and want some kind of oversight, this may work for you. But the results so far are mixed. When you pay less you earn more relative to your choice of securities. The best balanced portfolios like Vanguard’s Wellesley Income earn almost 10% over time. The best stock market portfolio like Vanguard’s 500 Index earns 11% over time. A portfolio created with the highest earning sectors of the market seems the best over time. Don’t be tricked by short-term performance. You are likely to stay with robo forever. 

Try the best low-cost Robo-advisor: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

Which Americans are hurt in the GOP budget?

Congressional Budget Office analysis of the tax cuts: “The bill would negatively impact individuals who make less than $30,000 per year by 2019, the CBO said, while most of those making under $75,000 would be negatively affected by 2027. Child health CHIP support has not been renewed. Treasury is out of money next Friday. We pay subsidies to profitable corporations that continue to avoid paying their fair share.

Children need health services and food. Hungry children in America is hard to believe given that we have households with $ BILLION in assets. And there is little hope for the children. We have 40.6 million people living in poverty in 2016--$24,000 for 2 adults and 2 kids. Mexico, Greece, Israel, and Turkey are the only countries with higher child poverty rates. Those with $ billions can’t spend it all and yet GOP is giving them more. 60% of Americans are NOT comfortable with this situation.

Yet, the GOP budget cuts $1 Trillion from Medicaid as well as Medicare. The individual tax cuts are temporary: 31% of middle-class filers would see tax hikes. Wages have been flat for 40 years of inflation and cuts don’t help. Most companies do NOT plan to raise wages or expand business. No company is planning on bringing their profits back to US to be taxed. Is this the America we want?

Child illness and poverty are NOT inevitable. ‘Of, By and for the people’?

https://www.amazon.com/Only-little-people-pay-taxes/dp/1478222441

Should you switch to a low-cost trading firm?

Commissions for trades or bulk trading fees have fallen for most discount brokers. Almost every firm has a deal. $4.95 is common. Heavy trading firms give discounts and more. You can start with $0 down. Robinhood charges $0 for buying and selling stocks. The real question is why are you trading at your firm? What are you trying to accomplish with your portfolio? Unless you are making more money by trading than a simple buy and hold strategy, net net, fold ‘em. All the legend investors say: ‘Just buy a low-cost 500 index’ and be patient. Do you have insider info that secures higher than average returns? Do you just enjoy high-class gambling? Most studies say equity investors earn little more than the inflation rate: 3.79% vs 11.06 for the index. Vanguard’s 500 Index did 11.01% since 1976.

Have you beaten the DJI earning 20% in 2017? Fast trading success requires huge loads of capital. Do you use ETFs—index funds with a commission. Again, is it worth it? Trading successfully means earning over 12% per year over time. It does no good to make 30% and then lose 10% compared to 2 years at 11%: Doubles money every 7 years. Check your ETF or fund choice for high fees: https://www.feex.com/funds

You can do better with the Vanguard Top Ten: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

GOP tax cuts create greater income inequality

Lower tax rates should help people in all income levels but in fact the opposite occurs. Income inequality worsens. Between 1979 and 2005, after-tax household income rose 6% for the bottom fifth of households. The top fifth saw their income increase by 80%. The top 1 percent saw their income triple. Instead of ‘trickling down’ to the middle income folks, tax cuts just make the rich richer and the poor poorer. More effective way to raise wages and employment and economic growth would be the infrastructure bill Trump promised. $2.2 Trillion given to those already rich could pay wages and US companies to rebuild many bridges, roads, and schools in dire need of repair. About 20,000 are ready to fall down in the next 10 years. Rich people don’t repair bridges, schools or roads. Local property and state tax will be increased to fix infrastructure. GOP plans to cut our Social Security and Medicare next year to offset the tax cuts to wealthy.

Use your shelter to avoid tax increases: https://www.amazon.com/Tax-Shelter-for-Americans/dp/1500426520

Is a Roth account right for you?

If you are saving for retirement at work or on your own, you need to consider this one and only tax shelter for working people. In 1997, Congress created a tax-FREE account for regular contributions for later. You put taxed money in and it grows untaxed and then in retirement, all the gains are tax-FREE. With a regular 401k or IRA, you get a deduction early but then you pay tax on all the gains. For example, you invest $250 a month in a regular 401k or IRA for 35 years and you have $957,000 with $802,000 taxable. You can deduct $3,000 from your income each year but that may not lower your tax bracket. A Roth 401k or IRA account would lessen contributions to pay tax up front but would provide $941,000 tax-FREE. In retirement, with taxable pensions, savings and Social Security, you might avoid income tax altogether since the Roth income does not increase your overall taxable income.

Roth gives more tax-FREE: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

Trump shuts down anti-propaganda center that collects foreign Fake News

The Countering Disinformation and Propaganda Act, introduced by Republican Sen. Rob Portman of Ohio, establishes the Global Engagement Center under the State Department which coordinates efforts to "recognize, understand, expose, and counter foreign state and non-state propaganda and disinformation efforts aimed at undermining United Sates national security interests."

Putin can now operate freely to help Trump destroy our system of free speech—CNN, WaPo, NYT, etc.

Do you need to start your Required Minimum Distributions?

A required minimum distribution (RMD) is the amount that traditional, SEP or SIMPLE IRA owners and qualified plan participants must begin distributing from their retirement accounts by April 1 following the year they reach age 70.5. RMD amounts must then be distributed each subsequent year based on the current RMD distribution calculation amounts. Your retirement money trustee will calculate the amount you need to withdrawal by December 31 each year. It can be deposited into your checking account automatically during the year. Check it now to avoid IRS penalty in April.

Make this part of your Plan: https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

 

****************

TrumpWorld

I could shoot someone on 5^th avenue and not lose voters’

Trump is still just a mafia contractor from Queens—Dad taught him to be The Don.

Trump cancelled health policy for addicted brother’s family after they fought dad’s will

Smoking gun: “Our boy can become president of the USA and we can engineer it,” Sater wrote in an email to lawyer Cohen. “I will get all of Putins team to buy in on this.” Manafort tells Russian mob he will keep them informed about “our boy.”

Ross, Commerce, direct link to Putin energy consortium and Russia-Cyprus bank

Putin sent 60 money wires to US marked “to finance election campaign of 2016.”

Russia manipulated our votes: Pizzagate: from Ms Campbell to Mr Welch’s AR-15.

Putin has full access to our 2018 elections since Trump doesn’t help states upgrade now.

LOCK ‘EM UP--Mueller draining the swamp!

Papadopoulos rolls: Trump Putin liaison pleads guilty.

Manafort rolls: Trump’s money launderer manager indicted: conspiracy against US.

Flynn rolls: Trump’s national security advisor and foreign agent pleads guilty to lying.

Manafort, Flynn, Kushner, Conway, Ross,

Treason is not excusable by being stupid America deserves better!

Congress gives Kushner a pass on documents re: Russia contacts—GOP helps hide.

‘Ministry of Truth’ 1984 novel: Government propaganda is ‘truth’ when they say it!

Now we know who is behind the attack on pedophile Roy—everyone except the few

Gen Michael Hayden@GenMhayden

If this is who we are or who we are becoming, I have wasted 40 years of my life. Until now it was not possible for me to conceive of an American President capable of such an outrageous assault on truth, a free press or the first amendment. 11:32 PM - Nov 25, 2017

FoxNews: “You’re the president. Why don’t you act like it?” Can Fox help impeach him?

Can 13 women be wrong: The Don’s ‘women are very special’ Groping genitals ‘special’

My Theory on Trump/Putin ‘love’:

Trump got Russian help/funding for business from business/mob ties to Putin. US banks not interested in more bankruptcies. No one expected him to win so no harm getting Putin help. Don owes Vlad’s mob money so they sent mob gofer Manafort to run the campaign. ‘Colluding’ Putin style. Trump always has a fall guy to blame when caught in lie. Sessions claims campaign execs all too inept and overwhelmed to collude on purpose.

TrumpWorld – using presidency to make money the old fashioned way: theft

Dictator talk time:

“When the president does it, that means it is not illegal,” Richard Nixon

How do you prove you are citizen? ICE acts like Gestapo: no record if taken away

Delusions of Grandeur:  ‘I’m the only one that matters’ The Don, Nov 3, 2017

Persecution complex: 'No politician in history has been treated more unfairly' The Don

“The president can’t have a conflict of interest.” The Don is above the law?

Fires FBI head because he was investigating The Don’s Russia mob ties.

Trump asserts ‘supreme’ authority in ending consumer protection agency regs.

Trump drains State Dept; CIA to State; AL Cotton to CIA

Trump ASSUMES he is Person of the Year: Time says

Fear is ruler’s weapon Tampa church ‘welcomes’ worshipers “we are heavily armed”

Ideology can justify any policy: At RedState, there has always been one hard and fast rule: Oppose abortion at all costs. Christian Right is not Christianity but ideology.

Today child molester; tomorrow rapists? How GOP religionists justify ideology.

1998 the House of Representatives approves two articles of impeachment against President Bill Clinton, charging him with lying under oath to a federal grand jury and obstructing justice.

2017 Nov. House of Representatives introduced articles of impeachment against President Don Trump, charging him with firing FBI Comey, violations of the Emoluments Clause, actions "undermining" the judiciary and freedom of the press.

2018 the House of Representatives approves two articles of impeachment against President Don Trump, charging him with lying under oath and obstructing justice.

Quid pro quo: "something for something."

“The drug companies are getting away with murder” so Trump gives them agency

Trump gets US to pay for his family legal problems—is he out of money already?

Flynn has gone over to the light side—Another enemy of the United States turns.

Lincoln solution to TrumpWorld: http://www.latimes.com/opinion/op-ed/la-oe-blumenthal-lincoln-trump-20170713-story.html

We have given The Don time to act like president: Time to Impeach for obstructing FBI

https://action.needtoimpeach.com/act-og3-t2?sc=ad_gg_lba_us_impeach-.-.-.-60s-20171020

Regulation is necessary: We need protection. Saves $12 billion of our money!

            (No one person can afford to sue a bank: class actions banned by GOP now.)

Trump names drug profiteer to run health agency—‘Drug Murder’ Club in charge! 

2017: Thousands died so a few wealthy rich can kill defenseless animals. Insanity?

Another special person dead—“guns don’t kill people” for fun. Is your wife next?

Record gun purchase background checks 11/24—Death Friday forcasts Dem win 2018?

Trump ends Protection Agency that “has forced the big banks to return more than $12 billion directly to families they cheated, and it's handled more than a million complaints against the financial institutions. The agency has helped make life a little fairer for working families, and that's why the Wall Street banks hate it.” 

Trump has suspended our right to bring class action lawsuits against our advisors/banks.

Tillerson Exxon calls Trump a ‘f__king moron” ‘MORON’ and LIAR:

McMaster, National security adviser: Trump has intelligence of a “kindergartner”

How Govt wastes our money:

Why are we paying for our ‘reps’ private jets? 

SCAMS:

$1,877 for ear piercing in hospital—bring your lawyer to hospital next time.

$3,660 for 4-mile ride in ambulance—call your own taxi next time.

Bitcoin, all VC can be use to buy things here and there but a bubble, 20% fall.

Tax Relief Co promises help if owe IRS back taxes but users say it is scam.

Jobs:

Who owns your account now?

WellsFargo to give up personal insurance business—auto, homeowners, renters, etc

Miracle:

It would be a miracle if the tax cut bill passes this year. 10 GOP say problems rise.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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