Friday, April 1, 2016

Wealthy get another tax break--no audits

Wealthy get another tax break—No audits
You might receive a computer letter audit but the real money will get away from the IRS which has 17,000 fewer people thanks to the millionaire Congress. Most wealthy people pay less than we do—17% versus 33%. We pay payroll, income and sales taxes while they live on capital taxed at 15%-20%. Now they can hide and evade even more taxes in their businesses and trusts and offshore since there are fewer knowledgeable auditors to check on them. Their lawyers are smarter and they have the cash to set up overseas like most big companies. All new Prez candidates’ tax plans are bogus: GOP rich pay a lot less; Dems rich pay a lot more. None will pass. There is a solution for working people: A trust account that allows us to evade taxes on our future income.
Avoid paying ANY taxes on your retirement income: http://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520

Painless way to save for your future
The average refund—fed and state—is about $3,000. How long would it take your INVESTED refunds to reach $500,000? 50 years, 40, 30 or 20 years? It costs just $12.95 to start a $1/2 million fund yourself. Salespeople can take 63% of your accumulations over time. Do it yourself and get to $1/2 million in 27 years.

Does your advisor recommend smart “beta”?
The creator of this stock picking strategy Bob Arnott now says the strategy was built on misunderstanding of some characteristics of the stocks in his back test model. 20% of all the ETF advisors use are flawed. Strong results often came from inflated valuations and many strategies were set to crash, he said. Smart beta was lauded by proponents as a way of squeezing bigger profits from indexes by choosing superior companies. The problem as Arnott sees it is that many smart-beta products do no such thing. Rather, they’ve benefited from a herd effect, increasing primarily because investors piled into them and pushed up valuations. Warren Buffett saw smart beta for what it was—dumb.


Did you take your RMD?
Taxpayers who turned 70½ during 2015 must start receiving required minimum distributions (RMDs) from Individual Retirement Accounts (IRAs) and workplace retirement plans by Friday, April 1, 2016. It also applies to participants in various workplace retirement plans, including 401(k), 403(b) and 457(b) plans. The April 1 deadline only applies to the required distribution for the first year. For all subsequent years, the RMD must be made by Dec. 31. So, a taxpayer who turned 70½ in 2015 (born after June 30, 1944 and before July 1, 1945) and receives the first required distribution (for 2015) on April 1, 2016, for example, must still receive the second RMD by Dec. 31, 2016. A Roth IRA is not taxable—ever—so you can leave your family unlimited savings.


GOP Religion creating a conservative Christian theocracy—no compassion, no tolerance
TN wants to make the Bible the official state book to go with .50-caliber Barrett sniper rifle as the official state rifle!
AL wants to require teachers to learn how NOT to have sex with students. Why?
KS wants all students to sue the school if they THINK they see a person of the wrong sex in the bathroom. (How will they know unless they take a picture under/over stall door?) You can now legally discriminate against anyone if you claim you have “a sincere religious belief.” Only those who confess conservative Christianity will be treated fairly in these environments.
WI ends community voter registration drives to bar low-income and non-white voters.
GA passed law like MO to legalize discrimination by using GOP’s version of Christianity as excuse. The almighty Dollar may dissuade Gov from signing bill. GOP Religion allows anyone to refuse a group you don’t like by claiming you hold ““a sincere religious belief” against that person/group. Hate becomes codified in law. In MS “Church Protection Act” lets residents pack without getting permit. Police horrified!
GOP crazies want to turn back time to 1920s when ignorant white Christian men ruled.

How much life insurance do you really need?
Agents like to sell expensive cash value insurance because it pays them more than term. You might like their argument—you get something for your money. None of us has extra money lying around so what to do? You could spend $50 a month on coverage that builds cash value (savings account) or $25 a month for $1/2 million coverage. There are two issues here. First, how much will your family need to continue if you are not around and second, mutual funds are better for long-term savings than insurance. If you are not married now, save for it. If your spouse makes enough to raise your kids, then you need enough cover to pay what she can’t pay for—the mortgage and the kids’ college. If not, double that amount so she can survive till your kids are grown.
Use the Vanguard Top Ten for investing/savings: http://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X


Does our President need to be smart and truthful? Do they even care about truth?

Trump: Cruz denies 5 mistresses—5 > 3 Trump had only 3? Why 5? 5 for the ego!
            Are these guys really running for Pres or just a reality TV show in 2017?
            “[Most terrorists] in Paris/Brussels attacks were in jail where they learned Jihad.
            “My wall will be the greatest wall” so they build tunnels and use submarines.
            “Women need to be punished for abortions and poor women go to jail.
            Border Patrol supports Trump’s wall despite end to their jobs.

            Coke withdrawals convention sponsorship: fears loss of image.

Hill: “I still say I didn’t do anything wrong despite 147 FBI agents checking on me.”

Bernie: “I keep collecting money and having big rallies but not from BIG Dems

Regulators are the only protection we have since we can’t sue anymore
            “It is nearly impossible for one individual to take on a corporation with vast resources.” (GOP bill requires impossible: every person in class action suffer “same type and scope of injury”)
               Supremes stop us from suing—State courts no longer available to sue corporations!

Andrew Caspersen, Park Hill, stole $25 million promising safe debt investment
7 million Americans are now at risk of “man-made earthquakes” caused by oil and gas.
CA will increase min wage $15 by 2022.
Encore Capital and Portfolio Recovery Associates most complaints of fake debt calls.
Guns kill people: Georgia man blows his leg off while shooting at his lawn mover.
Student Aid Institute caught charging fees for bogus debt relief work. 
Tobin Smith Fox TV failed to tell investors he was being paid to promote stocks.  


We need regulation—GOP wrong—companies/cities wouldn’t fix bad products on own

Will you have enough income in retirement? 
Facts: “In this year’s EBRI survey, roughly four in 10 workers — 42% — said they and their spouses have less than $10,000 in savings and investments; 27% of those age 55+ (in fairness, however, another 26% have saved $100,000 or more). Of those without retirement plans, a stunning 83% have saved under $10,000, which makes a pretty strong case for requiring all employers to offer all employees retirement plans, either through a federal or state program.”

Pru long-term care insurance rates will rise automatically
Some customers will see their premium rise automatically due to a change in Pru policy. From now on Pru will increase coverage to keep pace with inflation without asking you first. Pru foresees nursing and medical care increasing every year and it needs to cover costs and profit targets. Thus the increase. For one person, that 16% increase in future coverage comes with a 45% rate hike today, to $442 a quarter from $305 — a rate hike that doesn't require regulatory approval because, in theory, policyholders are free to say no. But Pru now requires a written declination from you to stop increases.


How our government wastes our money
The CIA left “explosive training material” under a Loudoun bus, which shuttled students for two days before it was discovered by a technician during routine maintenance.


Midsize Family car review from Car and Driver
Malibu, Accord, Camry, Mazda 6 have their good and bad so you chose. Long-term reliability breaks the tie. Avoid these 10 duds including Mercedes, Land Rover, Lincoln, Caddy. 

SCAMS
.All new Tax plans are bogus: GOP rich pay a lot less; Dems rich pay a lot more. No GO.
.Local police can keep most of what they seize from citizens even if never charged. Police seized $2.5 billion in cash from people without warrants/indictments. Burglars stole less. “Because police keep more, they have an incentive to take more stuff.”



Who owns your account now?
Sheraton, Westin st Regis etc Starwood Hotels and Resorts to Anbang Insurance China
General Electric’s asset management  to State Street Corp.

IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
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Friday, March 25, 2016

America's future?

America’s future?
GOP experiment fails: Cut taxes—no services, no jobs, no freedom
GOP KS Gov Brownback’s “experiment” tax cuts create debt downgrades, weak growth, and school finances under court direction. The Kansas City Star’s reported KS lost another 1,900 jobs in February and now has 5,400 fewer jobs than it did one year ago: “Growth” rate of -0.4% is first time in five years and worst in the nation. Koch owns KS politics but is expanding SC jobs, not KS. OH and WI cut school funding for rich tax cuts too.
KS has now legalized discrimination by religion on campus. No more open university for learning and experimenting with beliefs. YOU are now excluded from groups legally!
John Birch and KKK alive and well in KS!  GA is next to OK discrimination.

Are stock tip sheets right for you?
“Market conditions now match those when stocks were at their November peak. Sell your stocks now or you'll wish you had…” Ken Goldberg, TheStreet.com says his chart says to sell and buy the stocks he says will save you from impoverishment. Do these services that cost $200 and up help you … or just the promoters. If you buy these stocks with “serious upside potential” you will need to sell the ones they recommended last week. Oh?!. Can you beat the market by buying and selling? Can Jim Cramer really make you rich? Can your advisor beat a low-cost index every year?
One guy has been successful making his fellow owners millionaires and billionaires: http://www.amazon.com/Warren-Buffett-can-make-millionaire/dp/1530555981

How do advisors estimate your retirement fund growth?
Advisors use a number of methods to estimate how much you may have upon retirement and how long your funds will last. They should mention that none of their computer models nor years of experience nor education can accurately predict their answers. Depending on how much is in your account and the investment risk you are willing to take, they can forecast the future value of your fund using this calculator: http://www.moneychimp.com/calculator/compound_interest_calculator.htm. For instance, if you have $250,000 and you are investing $3,000 a year for the next 20 years at 8% net earnings (after fees, taxes, etc), you might have $1.4 million. But that does not count inflation. At 3%, the account might have HALF that in purchasing power by then. Another way to estimate your retirement income is using a model called the Monte Carlo method. Using 5,000 different market conditions, you see how much you could spend after inflation. Note an equal ratio of stocks/bonds makes success more likely. https://retirementplans.vanguard.com/VGApp/pe/pubeducation/calculators/RetirementNestEggCalc.jsf


Is your bank helping the wealthy break the law?
JP Morgan Chase helped Madoff create the largest ponzi in history according to one of Madoff’s victims. Morgan paid a fine but no banker went to jail. Obama did not pursue them. How many other wealthy people are Wall Street banks assisting in breaking the law? Would the gov tell us even if they bothered to look? Don’t the gov ministers come from the same firms they should be regulating?  


Is your advisor helping you reach YOUR goals or theirs?
What is your advisor’s annual total return? Take the amount invested 10 years ago and the amount now and compare (without new contributions). Are you better off now by 140%? By 57%? If not your advisor may be doing better than you are and it’s time to let Warren make you a millionaire. His holding company BRK.B is up 140% since 2006. The market is up 57%. Where is your account? Perhaps it’s time to switch!

Did you receive your refunds yet?
The average fed and state is about $3,000. How long would it take your INVESTED refunds to reach $1,000,000? 50 years, 40, 30 or 20 years? It costs just $12.95 to start $1 million fund yourself. Salespeople can take 63% of your accumulations over time.  

GOP bag man wants to “neuter” top Dem (GOP always talking genitals?)
Top consumer protector Liz Warren was attacked by the GOP rep from MO. According to Warren, Rep Luetkemeyer is a “Wall Street yes-man” who has accepted “nearly a million dollars from the big banks, hedge funds and credit card companies. Luetkemer has also sponsored bills in the past that would curb Department of Justice crackdowns on predatory lenders and another that would reduce oversight of payday lenders. Last year, the Center for Responsive Politics found that Luetkemeyer ranks among the top 10 recipients of campaign contributions from payday and short-term lenders, who pray on consumers with loan rates that make the mafia blush—400%.

Does our President need to be smart and truthful? Do they even care about truth?

Trump that: German hometown upset with his "raw, unvarnished intolerance."
            In the desert, hyenas and wolves are teaming up in order to hunt for food. 
            Il Duce “I’m going to get judges that everybody likes “I guarantee it personally.”
            VP maybe Jesse Ventura, Palin has TV, Cruz, Ryan, Fiorina ???
            “Muslims Need To Show More Respect”—George Wallace “Blacks need…”
           
Ryan: “I will accept nomination in contested convention to save GOP from hell.
            (Brussels ‘terrorists’ were just armed robbers/carjackers not Muslim jihadists.)

Palin: Star in new Judge Judy-style courtroom reality show in 2017—Not VeeP?

Hill: Sorry, my husband didn’t mean that my last 8 years in office were “awful.” Oh Bill
Bernie: “If Qatar spends $200 billion on soccer stadium, it could spend as much fighting             terrorists. We can’t do Kuwait/Saudi Arabia’s dirty work anymore."

Regulators are the only protection we have since we can’t sue anymore
            “It is nearly impossible for one individual to take on a corporation with vast resources.” (GOP bill requires impossible: every person in class action suffer “same type and scope of injury”)
               Supremes stop us from suing—State courts no longer available to sue corporations!

.GOP now (after horse left) wants regulations, after children poisoned; asks Feds to pay!
.William J. Wells, Promitor Capital stole $1.5 million promising brilliant trades
.Regulators lack broker examiners since Congress cut funding—investors at risk of fraud.
.Robert Lunn, Lunn Partners caught on bank fraud and Scottie Pippen fraud
.Guns, not people, kill people: Mom, shot by 4 year old, gets 180 days in jail.

We need regulation—GOP wrong—companies/cities wouldn’t fix bad products on own

My estate plan cost nothing to establish and fund—heirs pay no taxes
If you leave your IRA, annuity or 401k to your heirs when you pass, they may receive a huge tax bill from the IRS and state treasurer. All deferred savings plans are deferred meaning you or your heirs must pay income tax on the gains. If your heirs are in their prime earning years, they may get bumped into the higher tax bracket. They may pay 40% of your legacy to tax authorities. I will avoid this problem by using a special IRS tax-FREE account that I have funded for the last 10 years. I avoided all the legal costs of an estate plan and establishing a trust. I have both at no charge.
You can avoid the legacy costs—including heir income taxes: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466


Consumer Reports on your best and worst buys: vehicles
Reviews show US car makers still have a distance to travel for Americans even though most of the best are made in America. It ranks automakers across the world by reliability, road test performance and other factors. For the second year in a row, Lexus topped the list, nearly matched by Mazda, and followed by Toyota and Audi. The bottom of the list included Ford, Dodge, BMW Mini, Jeep and Fiat.


Is critical illness insurance right for you?
It sounds like insurance you should have but remember what happened to Donny Ray Black in Grisham’s The Rainmaker. Your insurer knows the game better than you do so have your financial advisor or lawyer investigate the policy first. You must be “sick as they define it.” Your doctor doesn’t decide if you get paid. Benefits of $5,000 to $100,000 are paid if you meet all their conditions. It costs $25 to $50 a month. You could have Vanguard take $50 a month out of your checking to invest over time for $100,000. Most people cancel before they use policy. At least Vanguard gives you your money back. And if you don’t need it, you can use the money for other things.


How the government wastes our tax money
.New destroyer cost $4.4 BILLION and has been rejected by commanders as costs soar.
.Boeing makes new unmanned sub we don’t need at outrageous cost
.AL GOP Gov Bentley reversed the minimum wage increase Birmingham gave to workers last month back to $7.25 in order to give 4 friends raises of $73,405 on $91,000.
Why would Alabama voters vote GOP to lower their wages?
.FBI faking it: a group of Johns Hopkins University researchers has found a bug in Apple’s encryption, one that would enable a skilled attacker to decrypt iphones.
.KY changes marriage cert so Kim Davis does not have to sign GOP religion wins!


SCAMS
Doctors who receive payments from the medical industry do indeed tend to prescribe drugs differently than their colleagues who don’t. And the more money they receive, on average, the more brand-name medications they prescribe. Doctors who received industry payments were two to three times as likely to prescribe brand-name drugs at exceptionally high rates as others in their specialty. Medicare data only.

Service people are targeted more than other groups.
Debt collectors harass them by going to commanders about unproven debt or medical debt not paid by the VA. Improper credit reporting gives service people bad rating which affects all financials--insurance, mortgage and sometimes job acceptance.


Who owns your account now?

IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
Alerts 
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