Great gift idea: tax-free ‘Wealth Reserve’

 

Great gift idea: tax-free ‘Wealth Reserve’

Help you child or grandchild get off to a great start in life: open a tax-FREE account for a secure future. You can open an account with them for $1000 and as they make contributions from earnings and holiday gifts, you can show them how their money compounds at over 11% a year. There are no broker fees, charges, or commissions so every $1 works for their future benefit. They never have to pay Uncle Sam either. This is a legal IRS tax shelter. It is the ultimate wealth management system for their whole life. A ‘Wealth Reserve’ is the New American Retirement System: all earnings are tax FREE.

Get them started right: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355

 

GE: corporations and the decline of middle class

75% of jobs at GE are now overseas where the pay is less no unions. In the heartland factories, “There’s no machines running. There’s not any work.” Corporations are using the tax code to move work and official business address so they pay little or no taxes: we pay them. GE has drawn roughly $1.6 billion in federal money since 2000, plus $687 million in state and local awards since 1992, totaling more than $2.2 billion, according to a nonprofit’s subsidy tracker that the report uses. Over roughly the same period, the report says, three out of every four GE jobs in the U.S. disappeared. Our representatives voted to give them a lower rate AND subsidies when they make bad business decisions. They can’t lose. Taxpayers via the Federal Reserve give some business our money to keep them afloat. The PPP provided money to keep workers employed and some businesses sent the jobs offshore and kept the money. Some got PPP money just to add to the salary of senior management. After the pandemic, some workers refused to return to the jobs that pay $7.25 an hour. Since the government created more money to keep Wall Street wealthy happy, inflation has risen the highest rate in 31 years. So if I get a raise, the 6% inflation rate wipes it out in 6 months. The wealthy get to keep their subsidies.

Socialism, American style: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

 

Driving less? Get your discount

When your driving situation changes, check with 3 car insurers to make sure you receive the discounts you deserve. I have saved by moving from State Farm, GEICO, Liberty and AllState. I proved we were driving less since we were not going to the mall, restaurants or the in-laws. We qualified for the discount. We took a driver improvement course and qualified for the discount. We bought a new used car with safety equipment and qualified for the discount. We have driven many miles without an accident and qualified for the discount. We were paying for 3 coverage items we didn’t need and qualified for the discount. We got older and qualified for the discount. There are over 20 discounts and over 100 carrier premium formulas. You have to shop to save.

Get yours/save: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

 

Is managing your own money right for you?

About 70% of households with a net worth of $500,000 or more headed by a person 45 years old or younger largely did self-directed investing in 2019, up from 57% in 2010, according to an analysis of Federal Reserve data by Aite-Novarica Group. Nearly half of them took an above-average risk level in exchange for an above-average rate of return, up from 35% in 2010, the study found, according to the Wall Street Journal report . Advisors who have won back clients use tax planning as the carrot. Some claim they have saved clients $100,000 or more. Advisors convince DIY clients that they need financial planning and are willing to pay never ending fees as percentage of their hard-won portfolios. We don’t know if they could have done the same with a one-time fee-only planner. Some advisors have earned the trust of DIY clients especially after a big loss. Other advisors say that no one person can know everything so DIY will come to them as one who knows things they don’t know. The question is not, ‘do the DIY investors know everything’: the question is, ‘are you will to give up 1-2% of your money ($10,000-$20,000) each year for life.’ Would it be better to pay $1,000-3,000 one time for help when you need it?

https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

 

Inflation and the stock market

Historically, stocks tend to do well even during periods of inflation. Steve Hanke, professor of applied economics at Johns Hopkins University, said the average annual return on stocks between 1990 and 2017 was 11%. Even when you factor in the cost of inflation, the average annual return was 8%. You can also do better by avoiding the assets that may suffer during inflationary times. Long-term bonds and certificates of deposit suffer because buying them during periods of inflation means you might miss out on higher rates later. No one wants old low-rate bonds. Short- to intermediate-term bonds are a better choice. Real estate can be a positive investment since rents can match increases in inflation. However, our recent pandemic caused many vacancies and real estate development declines. The bottom line is we just don’t know which investments will hold value during this inflationary period. There are special circumstances at this time. Usually a well diversified portfolio is still the best position for your future. Focus on what you can control—steady contributions. Warren Buffett has a plan for you.

https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

 

DIY investors hire only the specialist needed

Most DIY investors have a strategy to make and maintain a portfolio. They usually use a fiduciary (no product pushing) when asking for help since they don’t need a new product just advice. A financial planner can be helpful when charting their future. When they need to avoid taxation or create an estate or family legacy, they find a specialist. Perhaps a Roth conversion will help if done correctly. Perhaps the new RISE Act can help them pull all the retirement options together. The person could be a lawyer. Hiring a specialist for a specific need at a specific price requires checking creds and reputation. There are vendors who can help them find a specialist. However, asking a large brokerage firm, with a commission/fee business model, is usually not helpful. Most successful fee-only planners have the contacts to provide a valuable referral.

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

 

 

 

?**********ACCOUNTABILITY**************?

 

 

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

 

Our Jan 6 ‘Truth and Reconciliation Commission’

 

 

“The Coup is ongoing”

 

Congress subpoenas can be ignored?

 

“Hang Mike Pence” OK to threaten the life of VP

 

Jacob Chansley terrorist gets 3 years

 

 

 

How Govt wastes our money:

Manchin decides to cut social services but voted for Trump/GOP tax breaks for rich

We will spend $93 billion on the moon to “establish human presence there”

Despite promises no more drilling, Biden’s is bigger than any lease sale: US pollution

 

Will Congress give IRS tech upgrade to collect $100 Billion from tax avoiders?

 

 

SCAMS/SPINS:

Biden lied: drugs up not down: Medicare up 15% $21.60: from $148.50 to $170.10

Manchin opposes electric cars: favors coal mining tax credits and subsidies instead

Manchin gets delay in global coal use limits: earns $500,000 per year from coal co

 

Unlawful firearm charge dismissed: Child takes loaded gun to riot far away, kills 2.

 

Advisors caught overcharging us: poor math skills, delay, fraud, lazy, no mgr check

Amazon order email scam: call to speed order by giving up our credit card number 

FirstCash Cash America West caught charging military >36% rate on pawn loan

Brian Wedgeworth FL caught using fake Dr line on dating sites steal $750K 21 women

 

Lina Maria Garcia FL caught steering profitable trades to lover’s account: $5 million 

Our spices contain heavy metals: toxic for kids: CR reports

Dallas BEWARE: driverless UPS big rigs are coming to town from Houston. Stay away

 

“grandparent scam" relative in trouble 82-year-old Florida grandMom lost $700,000

Fake landlord scam: evictions ruin families

So easy to mislead fellow internet users: without trust, can democracy survive?

Holodeck future: playing with yourself? Back to the 50s The Weldt

 

Child cries as tells how killed 2 men during protest: attacker claims ‘self defense’?

3 White men with guns chase Black, kill him and claim ‘self defense’  How?

FBI, DA & police admit hid evidence of real killers of Malcolm X  system racism

 

Trump’s General Flynn calls for 1 national religion—2020 pledged to follow Q

Trump needs cash for failed businesses: sells marquee Washington Hotel near WH

Trump’s litigation delay tactic worked for taxes and now for Jan 6 Coup-attempt docs

 

Chants calling for hanging of VP is just “common sense” says president Trump WOW!

Are death threats to Congress person legal? GOP Gosar not arrested! But we are

 

140,000 children lost a parent/caregiver to Covid: get vax for your kids’ benefit

 

Jobs

Solution to low-pay jobs unfilled by Americans: immigrants have taken them for 200 yrs

10 Fastest-Growing Jobs for Young Professionals: tech and helping others

500,000 nurses quitting early due to pandemic overwork schedules

 

Who owns your account now?

Electric SUV bottom CR reliability survey: Lincoln, Tesla, Jeep, Genesis, VW bottom

 

Miracles:

Can a miracle change world climate deniers’ opinions? Catastrophe usually needed

2/3 of vaccinated Americans are banning unvaccinated family members from holidays

Abraham Olagbegi 13-year-old gets bone marrow then feeds homeless with grant

 

Saving the beauty of the old crafts for the next generation in LA: Thanks

2 - 3 cups of coffee, 3 - 5 cups of tea had lowest risk of stroke and dementia

MI church shelters 10-point buck on opening day of deer hunting season.

 

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/

 

Make your grandchild a millionaire

 

Make your grandchild a millionaire

If you are wealthy or they have time to accumulate wealth, you can help them have enough money to do what they really want to do. 1^st case: give each grandchild $15,000 a year with no gift tax. A custody or cash account with your stock mutual fund can become a $million in 20 years. 2^nd case: give each grandchild $250 a month using automatic investment from your bank account. A custody or cash account with your stock mutual fund can become a $million in 35 years. If they convert their account to a Roth IRA the account earnings will become tax-FREE when they take the money out.

Gift of a lifetime: https://www.amazon.com/Give-your-Grandchild-1000000-Lifetime/dp/1456433105/

 

Can Congress complete the Social Security stabilization for us?

The SS Trustees Report says that we will have our SS benefits cut by 25% in 2034—just 12 years away. Congress has trouble understanding it takes time to accumulate the funds that will provide the benefits. Reason: most are multimillionairs and won’t need benefits. Wealthy members don’t want to think about taxes. Some don’t even realize that global warming is reducing their $ billions of assets. However, if we are to survive in retirement, we need to convince the split Congress that Americans agree on THREE things: ensuring Social Security cost-of-living adjustments (COLAs) are enough to, at minimum, keep up with inflation; reinstating Social Security payroll taxes on people earning more than $400,000 per year; and providing a Social Security credit to unpaid caregivers. Because Congress may not agree in time to correct the situation, prudent folks must take action.

Start today: https://www.amazon.com/Maximize-Social-Security-Benefits-Retirement/dp/1495439224

 

Are stock dividends the best way to create retirement income?

Some advisors are convinced that stock dividends are the best way to fund our retirement. Few stocks pay over 3% in dividends. At $6 a year, owners of 3M for instance, must own 5,000 shares at $194 a share or about $1,000,000. Luckily, dividends are taxed at lower rates than income from 401k or IRA funds. However, we may do better by owning non-dividend shares like those in the S&P 500 that we can sell as needed with fewer taxes. Also, with inflation returning to the historical 3%, a dividend yield of 3% may actually be losing us long-term buying power. Stocks returns beat inflation. The other benefit of owning non-dividend stocks is that we can sell when the price and tax benefits are greatest. If we have other retirement income like taxable 401k and IRA money, we can postpone selling stock for income. We may have periods when we can convert the taxable money to tax-FREE money and thus lower our tax burden over time. We may need a one-time fee-only planner to help us create tax-FREE retirement income.

Tax-FREE spending: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

 

$10,000 annual fee

Do you realize that is the amount you are paying your advisor every year? If your portfolio is $500,000 and your expense fees and charges and 12b-1 and trading costs and timing mistakes total up to 2% each year, you could be falling behind your ultimate goal in a big way. Year after year with most costs hidden in quarterly statements and prospectus, you can lose up to 50% of your possible accumulation because of the compounding of costs. Compare your account balance to the account balance if you were using a 0.04% stock market index fund. DALBAR returns tracker says the difference can be 7%--3.79%vs11.06%. If your assets earn more than 2% and you pay 2% TOTAL costs, you lose a year of earnings if there are any. If the market falls, you lose more since there are no refunds if advisors fail to better the stock market index. For most advisors, if their market picks fail, they will increase trading costs to try to avoid a loss. This just makes matters worse. But by the time you see the loss or lack of gain, that period is over and there is nothing you can do. You could move your assets to the Best Robo available.

https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

 

Another way the wealthy avoid taxes

Trial lawyers haul their mass tort winnings to tax-haven Puerto Rico

And you wonder who will pay off the skyrocketing National Debt of $28 Trillions. These lawyers, who get the lion’s share of the opioid death settlement, are moving outside the US to avoid taxes on their $2 Billion fees. This “self-described West Virginia hillbilly” did not move his family so you know he is purposefully violating the law: “If you’re a lawyer in San Juan sitting behind a computer screen, you pay zero state and federal income taxes.” You may not be ready to leave your family and friends and move your office to PR so what can you do to avoid paying THEIR share of the $28 Trillion? You can avoid some of your income taxes by using deductions from your business activities like the former president does, but that takes time and money to set up. An immediate way is to take advantage of the current legal IRS-approved retirement accounts. 

Start today: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072

 

61% of households paid no federal income taxes in 2020

Are you one of the few who paid taxes last year? Households making less than about $28,000 will not owe income taxes this year, nor will about three-quarters of families earning between $28,000 and $55,000, the Tax Policy Center found. That means if you earn over about $22.47 an hour, you will owe the IRS in 2021. Congress is so divided politically; few expect the new taxes needed to cover our spending and debt interest will show up before year end. Long vacations add to the problem. Increased corporate taxes and changes in capital gains tax rates are likely to be debated for months. It is not clear whether Congress will even give the IRS the funds to collect taxes owed by the wealthy. Will middle-class families in high property-tax states ever get to deduct them fully? Will Biden be able to protect small business as Biden promised? You and small businesses don’t have access to the army of lawyers and accountants that allowed 55 profitable large corporations to avoid paying any federal corporate taxes in 2020. They cannot shift profits into tax havens to avoid paying U.S. taxes like multinational corporations can. 

You can avoid paying their taxes: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

 

American tax system: socialism for the rich: "only the little people pay taxes"

 https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

 

 

 

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

 

 

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

 

 

Our Jan 6 ‘Truth and Reconciliation Commission’

 

Head of terrorist group gets 5 months

 

Capitol police sue Trump, his terrorists

 

House seeks Trump-terrorist link docs

 

Trump lawyers sanctioned for abusing justice system

 

Terrorist plotting to kill Gov gets 6 years

 

How Govt wastes our money:

US surprised Taliban guerillas still around: 2,352 troops died: tired of $2.2 Trillion costs.

GOP wants to keep ‘anti-terrorist’ group in Afghanistan: Vietnam started that way

Are ‘Anti-vaxxers’ really free to put the rest of us in the hospital?

100,000 hospitalized with covid-19 a level not seen since Jan. 30 when vax not available

 

SCAMS/SPINS:

TX GOP pushes for suppressing Dem vote to re-capture House seats: SB1 passed

States redistricting GOP favor for next Congress: Dems voters put in fewer districts

 

Trump booed in AL rally after vax statement: mob turns on Leader who got vax?

Conservative talk show Phil Valentine dies with Covid-19: family pleads ‘get vax’

Mom’s 2 sons die of Covid: sons refused vax: ‘I wish I could have made them do it’

 

Do it for the KIDS: Anti-vaxxers making most vulnerable kids sick and sicker

 

OR School head tells parents how to get children out of wearing mask: claim disability 

CA pastor offering religious exemptions to avoid vaccine mandate: ‘war’ dead 635,000

KS school board gives medical or mental health exemption to avoid masks

 

LA GOP officials help with philosophical or religious exemption from Gov’s mask rule

FL anti-vaxxers wait on floor for anti-body treatment not vax: sick line up full hospitals

KY GOP court removes Gov power to curb Covid: GOP ends school mandate

 

Covid vax needs booster or not: not clear who when what where?

DeSantis, Abbott and Hogan anti-vaxxers running for the White House in ‘24

 

Dr Robert Karas AR prescribed anti-parasitic drug "thousands" of times: jail inmates

“You wouldn’t get your chemotherapy at a feed store.” MS folks taking de-worm drug.

The National Guard will see you now: GA hospitals staffed by military: Covid ‘war zone’

Judge: Sacklers, Oxy, get off too easy: legal immunities: killed 500,000; millions suffer 

 

 

Bolts catch fire: GM unbolts battery: do not charge indoors overnight

Malicious QR Codes Now Used by Online Scammers

 

Covid risk on cruise ships even if vax: older cruisers warned: no hospital onboard

Seniors’ biggest mistake: SS benefits don’t go up when you reach full retirement age

 

Robert J. Mueller TX caught: stole $58 million seniors’ nest eggs promised safe returns

ISC Advisors caught over charging fees for funds: no disclosure; no SEC reporting

Online casinos report big year taking $13.6 billion from desperate poor/unemployed

John Woods Livingston Southport caught Ponzi on 400 for $110 million “safe steady”

 

Laptop crash? You can imagine car’s autopilot may have same problem at 65 mph

 

 

Pro-gun states wish to disarm the ATF power to regulate complete firearms

Family Fascism: state law gives militia a “veneer of sanctioned credibility” armed picnics

 

Jobs

Cars wait for their computers: Ford Toyota GM stop lines: Covid cuts Malaysia workers

Telemarketer jobs going away, thankfully you don’t pursue these phone pests.

factory equipment manufacturers jobs vault to highs above 2019 levels: good pay

 

Delta charging no-vaxxers extra health care premiums: selfishness costs

Robots replacing low-wage workers pushed by venture capitalists

 

Who owns your account now?

Supremes as owners put millions on street: evicted before recovery: didn’t even sign order

 

Miracles:

Congress considers giving seniors Medicare dental coverage to some extent: on to-do list

Athletes helping young ones understand how money works: learning basics avoiding bad

Earth Fire: 2020 was Europe's hottest year on record

 

Greenhouse gas concentrations, global sea levels hit record highs in 2020

 

 

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/

 

 

How much do you have to pay for student loan repayment plans?

 

How to replace retirement funds now?

Survey says 35% of non-retired respondents had already dipped into their retirement funds and may do so again. No one wants to use future money now but we have to get money from somewhere. Most of us did not have $1,000 for emergencies. How do we regain our future money funds once we are able? To catch up, we must use a low-cost stock mutual fund since bank interest is too low. With savings rates as low as inflation, we need faster growing stocks. To minimize the risk of stocks we buy shares of 500 of the best companies in the world. We use a low-cost mutual fund so we don’t give any fees to the seller. We want our money to compound without current taxes so we use our employer’s tax-deferred (401k) account or an IRA account. The most successful savers take Warren Buffett’s advice and use the Vanguard 500 Index insider an IRA.

https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

 

Did you lose some of your money somewhere?

Everyone changes jobs these days. Sometimes a former employer goes out of business or gets bought. Sometimes an IRA savings account gets forgotten. Sometimes a life insurance policy with money in it gets misplaced. Readers have told me stories and I give them my list of places to look. Luckily, we have digital records you can search. You could pay a search firm to do the work but some are scams. If you have some time, finding money can be a fun project. For instance, after I left a securities firm, it went bankrupt. We employees had contributed to an Employee Stock Ownership Plan (ESOP). I forgot all about it and never received any notice about where my money went. I assumed senior management took it in the process. Then I was researching what happened to the firm and found the bankruptcy story online. I found out that the ESOP went to John Hancock and now I get a monthly bank credit for the rest of my life. Most lost money is scooped up by the state treasurer. Most pension plans are registered with the Feds. Consumer Reports provides guidance. I have been through many sites for my family: https://unclaimed.org/. My family has lived in 8 states. They have used closed federal savings banks: https://closedbanks.fdic.gov/funds/. They have used credit unions: https://www.ncua.gov/support-services/conservatorships-liquidations/unclaimed-deposits. They have had pensions: https://www.pbgc.gov/sites/default/files/finding-a-lost-pension.pdf and retirement funds: https://www.unclaimedretirementbenefits.com/. I wrote to the insurers directly since I knew my family had specific policies. If you moved waiting for a tax refund: https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp. Query your state tax dept: https://www20.state.nj.us/TYTR_TGI_INQ/jsp/prompt.jsp.

Found money is fun: https://www.amazon.com/I-dont-have-money-Financial-Emergencies/dp/1537636707

 

How much do you have to pay for student loan repayment plans?

There are three options for an approved income-driven repayment (IDR) plan: it allocates 10% to 15% of a borrower’s “discretionary income” for the monthly payments. You pay loans on a 20- or 25-year schedule and then the government will forgive any balance that’s left over at the end. You might end up paying more in interest over this timeframe. You must recertify each year to verify your family size and income—but income-driven repayment may be the best plan for you. The gov calculates the payments using a formula. TIP: contributing more to your work 401(k) lowers your adjusted gross income, and in turn lowers your payment on an income-driven repayment plan. However, at the end of 20 or 25 years, you may need to pay taxes on the remaining forgiven amount.

Plan ahead: https://www.amazon.com/Education-Funding-Save-right-plan/dp/1482549956

 

How much do we taxpayers subsidize Walmart, McDonalds low-wage structure?

A family cannot survive on $7.25 per hour—about $18,000 a year—the same wages earned in 1987. Since a family has to pay rent, utilities, insurance, transportation, clothes, etc, the total expenses average above $30,000 a year. Depending on the number of children in the household, our taxes subsidize the base family income through programs like food stamps $8,160, EIC $6,660, CTC $3,000. These are the totals possible for more than 2 children. Most workers earning minimum wage have children in the family. Many do not have spouse earnings. States and Congress have kept wages low in order to gain the election donations of large employers like Amazon, Walmart and McDonalds. In effect, the government is subsidizing America’s big business. Most people would call this Socialism. It is socialism in the way we taxpayers allow corporations to take larger profits. Their labor costs are reduced because we pay almost HALF their workers’ incomes using special relief programs. The rest of a worker’s survival income comes from working another job or a spouse’s income. Corporations pay little or no taxes so the burden falls on tax payers. Most corporations use foreign subsidiaries as a tax haven. Most of us can’t afford a tax haven. Our socialism: private profits; socialized costs.

https://www.amazon.com/Americas-Socialism-for-Rich-little-people-pay/dp/1535218584/

 

Is a 2% wealth tax right for you?

Besides inheritance taxes, the only wealth tax currently in place is the property tax, which hits the middle class hardest. According to a 2017 analysis by economist Edward Wolff, this is because a primary residence represents the majority of a middle-class homeowner’s assets, whereas only about 7 percent of the wealth of 1 percenters is tied up in personal real estate. Senator Warren’s proposal calls for a 2 percent tax on fortunes exceeding $50 million. So if you have $100 million in assets, you’d be taxed on half of that, and your bill would be $1 million. Most of us are taxed on earned income so this tax might help pay for the massive tax breaks given by Congress recently. We pay sales taxes which hit the poor in the face. The rich don’t buy much at Walmart. The rich get richer because long-term investment gains are taxed at a much lower rate than wages, and only about half of Americans own any stocks, our progressive state and federal income taxes have been insufficient to curb the nation’s staggering—and growing—disparities in social and economic well-being. The wealthy will never miss the $1 million in tax because asset value compounding will double their $100 million to $200 million in about 7 years. $200 million less $1 million still leaves $199 million. They can easily get by. Plus the IRS will never find/appraise all the assets of the wealthy. They will just move the yacht in Nassau. Better: a securities transaction tax on high-income people. It can raise a lot of money from traders and corporations. These Biden changes are what keeps rich up at night.

Learn their secret: https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513

 

 

 

Have tax forms; will file … for FREE

W-2, unemployment, SS benefits, IRAs, pensions, RMD, brokerage, etc. If you have all your forms, 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. 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

 

 

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

 

 

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

 

Dictator image worship: Bow down

 

Terrorists still called ‘militia’: militia is National Guard/Bunker Hill patriots

 

Terrorists plan to 'blow up our Capitol'

 

FBI: 1,400 Terrorist in Trump’s failed Coup

 

Trump’s Pentagon took 3 hours to approve Guard for Capitol police: result 5 died

 

 

Our ‘Truth and Reconciliation Commission’? 

 

 

How Govt wastes our money:

We subsidize $7.25 wage ($18,000) with food stamps $8,160, EIC $6,660, CTC $3,000.

CA town paid every citizen a basic wage: employment went up not down.

 

We bought 400 million vaccines but 41% of us don’t want to take it: more die 515,000 +

Senate to limit stimulus checks to income under $80,000 single; $160,000 MFJ couples

Kentucky citizens will stop working if given $1,400 McConnell insults his own citizens!

 

McConnell wife Chao uses our money to pay staff over $15/hr to do her personal errands

Wealthy say they already got $ millions in 2017 so they don’t need another Covid check

Wasted money: Police ask for Guard for 2 more months: Trump’s gone so no 3 hr delay

 

SCAMS/SPINS:

Bishop Accountability: What does it take to make them accountable hiding sins of abuse

Hospital charges reinstated: $1,000 for COVID treatment as ‘grace period’ ends

GOP vs Trumpists: follow the money in PAC: democracy’s future depends on cash!

 

Trump really has GOP in pocket: even man he tried to assassinate drinks his Kool-Aid

Trump vows to end traditional GOP party: “Get rid of them all” hundreds cheer

 

We never get to vote again: GOP suppresses voting: elections rigged if GOP not win

 

Still need masks: Another vaccine but still 3,000 die every day: 525,000

SD scam: Gov claims NO mask success but really means 2^nd most virus cases per capita\

Can schools be free of virus with toxic chemicals or big fans in the windows?

 

Scammers fake videos, pictures, tweets, all to manipulate us to hate others. Sorry state!

Scam lesson book: “Summer of Scam,” and 7 stories to teach us scamming

Block those unwanted robocalls on your phone: block all not on your list

 

Boy Scouts offer $300 million to pay off victims of child sex abuse: no prison for adults.

Bishops tell Catholics to skip J&J vaccine despite Pope OK

Biden: “Indian-descent Americans are taking over the country” really? Joe, look in mirror

 

Facebook costs you money but you may not even know how it does it.

Christopher Fulco NY caught frauds $1.6 million promised special invest: 3 yrs prison

BrightSpeed Solutions K. Howard IL caught working internet fraud on payment process

 

BEWARE: Visit no Covid regs states at your own risk: Map of states to avoid

Biden disses Neanderthals: insult our ancestors in comment on TX MS

 

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

 

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

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

1/3 troops declined vaccine: “unsafe” or want sense of independence: Trump got vaccine

Biden to change Trump regs: Independent Contractor definition, foreign workers

1955: year top 10% Americans started taking more and union membership went down

 

Who owns your account now?

Stricter Gym Precautions COVID-19 Outbreaks Linked To Gym Practices

Best Hospitals area: https://www.healthgrades.com/quality/hospital-ratings-awards

Google offers business breach insurance: insurers see what controls in place at firms

 

Which cars to buy in ’21: Consumer Report makes a list: Is it the safest?

Wealthsimple's U.S. Business to Betterment

 

 

Miracles:

NJ plumber drove to Texas with his family to fix burst pipes: brings wife and apprentice

Six-legged puppy? Variants abound in nature

Supremes decide NOT to hear another pitch for Trump election reversal: The Big Con!

 

Supremes decide to limit voting participation: Trumpism wins by stopping voters’ votes

 

Biden to give homeowners more time: longer for foreclosure deferral

TX everyone can get sick now: even fish can learn to wait for better future

 

 

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/