6 problems solved by life insurance

6 problems solved by Life Insurance. Life insurance is the only certain way for you to create “instant” capital. That capital can help you solve multiple personal and business problems. To understand how life insurance can, and should, be used, you must first focus on the problems. Once you have the problems identified the planning team will then match the products. Then the planner will attempt to formulate a strategy for you.  6 problems solved:

14 Year End Tax Tips to Consider

Planning ahead  is a good idea when it comes to adopting a strategy to reduce your taxes. But for some people, time just gets away from them. So with that being said here are 14 year end tax tips to consider: 14 Year End Tax Tips to Consider: 1. Review income and deductions. It’s all in the timing. The most fundamental year-end tax move is to adjust the timing of income and deductions. If your income is

Frightening facts and what you can do about them

Frightening facts and what you can do about them. Access to better long-term care solutions has become a necessity. This result is due to a tremendous spike in life expectancy in America over the last 50 years. For most people, standard long-term care insurance was traditionally the only viable option.  It was very expensive and created quite an obstacle for most. The good news is today is there are new solutions available out there for

Check the status of your Amended Tax Return

If you filed an amended tax return, here is what you need to know to check the status of your amended tax return. First of all the Where’s My Amended Return? gives you the status of your amended tax return. therefore, you can start checking on its status three weeks after you’ve mailed it. As a result, it can take up to three weeks before your amended return shows up in our system. You can

The Importance of Understanding IRA Beneficiary Selection

The Importance of Understanding IRA Beneficiary Selection. Anyone or anything can generally be the beneficiary of your retirement assets such as IRAs, 401(k)s and annuity contracts. It doesn’t have to be a relative and yes, you can name your dog or your alma mater! Choosing the proper beneficiaries is not always as simple as it seems and many people do not realize what the consequences can be. For example, an ailing client asked if he could

Are you sitting on a tax-deferred time bomb?

If you have money in a tax-deferred retirement account such as a 401(k), IRA or 403(b), you’re sitting on a tax time bomb. Here’s why… Conventional wisdom says, “Maximize your contributions to tax-deferred plans. Your money compounds without being reduced by taxes and you’ll end up with more money during retirement.” But like much conventional wisdom about personal finance, it’s baloney. The Society of Actuaries says if tax rates remain the same, “It doesn’t make any


Here are 10 misconceptions about wills… MISCONCEPTION #1: Probate costs are small.  Wrong!  Attorney’s fees for even a simple probate often reach $5,000 to $10,000. MISCONCEPTION #2: Your will and your assets remain private.  Not so!  Probate is a matter of public record which means your file is open to anyone. MISCONCEPTION #3: A will can be probated in just a few weeks.  No. Even simple probates often take ten months to two years. MISCONCEPTION

Mileage Deductions For 2019

Standard mileage rate for 2019 increases to 58 cents per mile, up from 54.5 cents for 2018. The rate for medical and moving mileage increases to 20 cents per mile, up from 18 cents. The charitable mileage rate remains at 14 cents per mile. It is important to note that under the Tax Cuts and Jobs Act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses. Taxpayers also cannot claim a deduction

New Section 199A Qualified Business Income 20% Tax Cut

The owners of pass-through businesses like sole proprietors, partnerships, S corporations and some real estate investors may now qualify for a deduction equal to 20% of qualified business income (QBI). If you have $100,000 of QBI, for example, you potentially get up to a $20,000 deduction. This also applies to Schedule C sole-proprietors. The Section 199A QBI deduction gets limited in a couple of situations. Not every pass-through entity gets to use the Section 199A