Raising capital gains tax As Obama continues to signal what he will propose during Tuesday’s State of the Union address, senior administration officials said during the weekend that he will call for raising the capital gains rate on top income earners and eliminating a tax break on inheritances. The revenue generated by those changes wouldContinue reading “Raising capital gains tax , raising credit score and other news”
Category Archives: Finance
Coming Collapse of the Middle Class with Elizabeth Warren
Coming Collapse of the Middle Class with Elizabeth Warren Coming Collapse of the Middle Class with Elizabeth Warren Elizabeth Warren BENEDICT GOMBOCZ 2. Personal details Personal details Born June 22, 1949 in Oklahoma City, Oklahoma Member of the Democratic Party (since 1996; was a Republican until 1996) Graduate of George Washington University,Continue reading “Coming Collapse of the Middle Class with Elizabeth Warren”
Asset Protection Iron Triangle by Charles Lamm
Asset protection is not just for the wealthy any longer. When a middle class home can easily run a half million dollars in Florida or another state, and over a million in California or other state, anyone can become a target of lawsuits, divorce courts, and the IRS. You have to dig a well beforeContinue reading “Asset Protection Iron Triangle by Charles Lamm”
March 16, 2015 deadline for business structure execution
Unless otherwise indicated, all deadlines related to TAXES are at 11:59:59 P.M. (one second before midnight) local time. See also IRS Publication 509. March 31, 2014 Health care coverage deadline for most uninsured taxpayers to avoid the Affordable Care Act penalties on their 2014 tax returns. November 15, 2014 Start of 2015 open enrollment at the HealthContinue reading “March 16, 2015 deadline for business structure execution”
Real Estate IRA Caveats
Investing in real estate inside an IRA comes with strict rules. Complication number one: Owning property in an IRA negates all the familiar tax benefits of owning investment real estate, says James Lange, a CPA and financial planner in Pittsburgh. You can’t deduct property taxes or mortgage interest or take advantage of depreciation. Aggravation numberContinue reading “Real Estate IRA Caveats”
What would the Federal Reserve do
Economic indicators: SP500, building permit, unemployment, capital goods spending, money supply What would you do with your income and spending this 2015? Contact Connie Dello Buono, helping doctors and business owners reduce income taxes via a business structure and financial strategies. 408-854-1883 motherhealth@gmail.com or conniedbuono@gmail.com
Maximize Tax Savings For 2014 Business Car Purchases
Doctors and Business Owners who purchased a business car in 2014 will be able to boost their tax savings using the $8,000 increase in first-year depreciation, thanks to the recent extension of bonus depreciation. Doctors who purchased a heavy SUV or pickup (Gross Vehicular Weight Rating over 6,000 pounds) by December 31, 2014 are eligibleContinue reading “Maximize Tax Savings For 2014 Business Car Purchases”
About Annuities
Annuities are insurance contracts that guarantee a fixed or variable payment to the annuitant (the investor) at some future time, usually retirement. Annuities come in different varieties with many different options (called riders) so each annuity works in its own particular way, but there are some general concepts to understand. Two Phases of Annuities Generally,Continue reading “About Annuities”
Suddenly everything is a choice rather than a mandatory cost, your personal finance resolution for 2015
Car: Riding a bike or bus to work. Think of saving the car insurance and cost of gas for years before buying your dream car. House: Settling for a room to rent or mobile home or community house sharing. Think Income first before Spending. This means buying a fourplex as your first home or aContinue reading “Suddenly everything is a choice rather than a mandatory cost, your personal finance resolution for 2015”
Taxes 2015 – Finance Planning and Financial Strategies coupled with Business structure
Medical doctors: 2014 tax law changes , impact and financial strategies
How will 2014 tax law changes impact your finances this year and beyond? Although the top marginal tax bracket was increased to 39.6%, most physicians will have their marginal rate (their last dollar of income) taxed at 28% or 33%, depending on your taxable income. Understanding tax brackets Contrary to popular belief, when you earnContinue reading “Medical doctors: 2014 tax law changes , impact and financial strategies”
Strategic financial structure for doctors saves $71k in income tax per year
“Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one’s taxes. Over and over again the Courts have said that there is nothing sinister in so arrangingContinue reading “Strategic financial structure for doctors saves $71k in income tax per year”
401(k) Plans Are Not Just For Big Businesses
A significant portion of the small business market consists of one person businesses. If you have a client whose business is a one person operation, s/he may be a perfect candidate for a Solo 401(k) Plan. A Solo 401(k) plan is a 401(k) plan for a one-person business and may offer your client an opportunityContinue reading “401(k) Plans Are Not Just For Big Businesses”
Type of Qualified Retirement Plan for high net income pros and business owners
Owner Goal Employees (Non-Owner) Plan Type Requirements Advantages Older Than Employees Maximize Contributions, Deductions & Benefits 0-4 Fully Insured Defined Benefit Plan, also known as a 412(e)(3) Plan Steady Profits: Business generates enough income to support ongoing plan contributions,. Plan funding required each year. Highest Possible Contribution, Deduction & Benefits. All Plan Assets HeldContinue reading “Type of Qualified Retirement Plan for high net income pros and business owners”