By Tmm662 May 09, 2013
Great advisor helps with my entire financial situation I recommend him to all whom need help with asset mgt especially high net worth individuals ...read more
By Anonymous October 18, 2010
This is a traditional bait-n-switch "money management" scam. Hook you with "advice" and then cram life insurance down your throat. The internal product costs are way higher, the commission is huge for the advisor, and it requires no work from the salesman. The illustrated guaranteed rates are often not what is actually credited to the contract but very few people actually do the research. The other scam is telling you that "this is what Clark Howard owns" so it must be a quality product. ...read more
By Richard G July 16, 2010
After meeting with an "advisor" 3 different occasions thinking I would recieve a financial plan at the end of the meeting process I was pitched a life insurance policy with little investment advise other than "we will use mutual funds". This firm is a life insurance agency and not a financial advisory firm. STAY AWAY! ...read more
Are you wondering if there's a hard and fast rule about what income is taxable and what income is not taxable? The quick answer is that all income is taxable unless the law specifically excludes it. But as you might have guessed, there's more to it than that. Taxable income includes any money you receive, such as wages and tips, but it can also include non-cash income from property or services. For example, both parties in a barter exchange must include the fair market value of goods or services received as income on their tax return. Nontaxable Income Here are some types of income that are usually not taxable: Gifts and inheritances Child support payments Welfare benefits Damage awards for physical injury or sickness Cash rebates from a dealer or manufacturer for an item you buy Reimbursements for qualified adoption expenses In addition, some types of income are not taxable except under certain conditions, including: Life insurance proceeds paid to you are usually not taxable. But if you redeem a life insurance policy for cash, any amount that is more than the cost of the policy is taxable. Income from a qualified scholarship is normally not taxable. This means that amounts you use for certain costs, such as tuition and required books, are not taxable. However, amounts you use for room and board are taxable. If you received a state or local income tax refund, the amount may be taxable. You should have received a 2017 Form 1099-G from the agency that made the payment to you. If you didn't get it by mail, the agency may have provided the form electronically. Contact them to find out how to get the form. Be sure to report any taxable refund you received even if you did not receive Form 1099-G. Important Reminders about Tip Income If you get tips on the job from customers, that income is subject to taxes. Here's what you should keep in mind when it comes to receiving tips on the job: Tips are taxable. You must pay federal income tax on any tips you receive. The value of non-cash tips, such as tickets, passes or other items of value are also subject to income tax. Include all tips on your income tax return. You must include the total of all tips you received during the year on your income tax return. This includes tips directly from customers, tips added to credit cards and your share of tips received under a tip-splitting agreement with other employees. Report tips to your employer. If you receive $20 or more in tips in any one month, from any one job, you must report your tips for that month to your employer. The report should only include cash, check, debit and credit card tips you receive. Your employer is required to withhold federal income, Social Security and Medicare taxes on the reported tips. Do not report the value of any noncash tips to your employer. Keep a daily log of tips. Use the Employee's Daily Record of Tips and Report to Employer (IRS Publication 1244), to record your tips. Bartering Income is Taxable Bartering is the trading of one product or service for another. Small businesses sometimes barter to get products or services they need. For example, a plumber might trade plumbing work with a dentist for dental services. Typically, there is no exchange of cash. If you barter, the value of products or services from bartering is taxable income. Here are four facts about bartering that you should be aware of: 1. Barter exchanges. A barter exchange is an organized marketplace where members barter products or services. Some exchanges operate out of an office and others over the Internet. All barter exchanges are required to issue Form 1099-B, Proceeds from Broker and Barter Exchange Transactions. The exchange must give a copy of the form to its members who barter and file a copy with the IRS. 2. Bartering income. Barter and trade dollars are the same as real dollars for tax purposes and must be reported on a tax return. Both parties must report as income the fair market value of the product or service they get. 3. Tax implications. Bartering is taxable in the year it occurs. The tax rules may vary based on the type of bartering that takes place. Barterers may owe income taxes, self-employment taxes, employment taxes or excise taxes on their bartering income. 4. Reporting rules. How you report bartering on a tax return varies. If you are in a trade or business, you normally report it on Form 1040, Schedule C, Profit or Loss from Business. If you have any questions about taxable and nontaxable income, don't hesitate to contact the office today. ...read more
By Creative Financial Partners April 18, 2018
The health care law contains tax provisions that affect employers. The size and structure of a workforce--small or large--helps determine which parts of the law apply to which employers. Calculating the number of employees is especially important for employers that have close to 50 employees or whose workforce fluctuates during the year. Two parts of the Affordable Care Act apply only to applicable large employers. These are the employer shared responsibility provisions and the employer information reporting provisions for offers of minimum essential coverage. The number of employees an employer has during the current year determines whether it is an applicable large employer (ALE) for the following year. For example, you will use information about the size of your workforce during 2017 to determine if your organization is an ALE for 2018. Applicable large employers are generally those with 50 or more full-time employees or full-time equivalent employees. Under the employer shared responsibility provision, ALEs are required to offer their full-time employees and dependents affordable coverage that provides minimum value. Employers with fewer than 50 full-time or full-time equivalent employees are not applicable large employers. Who is a Full-time Employee? There are many additional rules for determining who is a full-time employee, including what counts as hours of service, but in general: A full-time employee is an employee who is employed on average, per month, at least 30 hours of service per week, or at least 130 hours of service in a calendar month. A full-time equivalent employee is a combination of employees, each of whom individually is not a full-time employee, but who, in combination, are equivalent to a full-time employee. An aggregated group is commonly owned or otherwise related or affiliated employers, which must combine their employees to determine their workforce size. Figuring the Size of the Workforce To determine your workforce size for a year, you add your total number of full-time employees for each month of the prior calendar year to the total number of full-time equivalent employees for each calendar month of the prior calendar year and divide that total number by 12. If the result is 50 or more employees, you are an applicable large employer. Employers with Fewer than 50 Employees If an employer has fewer than 50 full-time employees, including full-time equivalent employees, on average during the prior year, the employer is not an ALE for the current calendar year. Therefore, the employer is not subject to the employer shared responsibility provisions or the employer information reporting provisions for the current year. Information Reporting (Including Self-Insured Employers) All providers of health coverage, including employers that provide self-insured coverage, must file annual returns with the IRS reporting information about the coverage and about each covered individual. The coverage is reported on a Form 1095-B, Health Coverage and the employer must also furnish a copy of Form 1095-B to the employee by March 2, 2018 (this date reflects a 30-day extension from the original due date of January 31). Tax Credits Certain employers may be eligible for the small business health care tax credit if they: cover at least 50 percent of employees' premium costs have fewer than 25 full-time equivalent employees with average annual wages of less than $52,400 in 2017 purchase their coverage through the Small Business Health Options Program. Employers with fewer than 50 full-time employees or full-time equivalent employees are not subject to the employer shared responsibility provisions. Employers with 50 or More EmployeesInformation Reporting All employers including applicable large employers that provide self-insured health coverage must file an annual return for individuals they cover and provide a statement to responsible individuals. Applicable large employers must file an annual return--and provide a statement to each full-time employee--reporting whether they offered health insurance, and if so, what insurance they offered their employees. ALEs are required to furnish a statement to each full-time employee that includes the same information provided to the IRS by March 2, 2018. ALEs that file 250 or more information returns during the calendar year must file the returns electronically. Employer Shared Responsibility Payment ALEs are subject to the employer shared responsibility payment if at least one full-time employee receives the premium tax credit and any one these conditions apply. The ALE: failed to offer coverage to full-time employees and their dependents offered coverage that was not affordable offered coverage that did not provide a minimum level of coverage Questions? Don't hesitate to contact us: http://www.creativetaxbiz.com/contact.php ...read more
By Creative Financial Partners April 18, 2018
By Peggy DiPirroOctober 2, 2012 The United States of America would be absolutely nowhere without our military troops. We depend upon them for our freedom and safety in order to continue living our “normal” lives here in the mainland. Contrary to what some Americans might say, without them life as we know it would not exist. What makes the U.S.A. different is the belief system in which our country was originally founded on. These are the values our soldiers fight for. We owe them much more than what they currently receive while away, or upon their return. Too often, veteran soldiers come back to the United States with post-traumatic syndrome and/or life altering physical disabilities after their discharge. A U.S. soldier must endure the difficulties that accompany his or her enlistment, including loneliness, stressful (and often times traumatic) conditions and disabling injuries, which will affect the person for years to come. Just imagining events that take place during war is chilling. These men and women must live it. However, an American soldier is not the only one affected by life in the military. His or her spouse also experiences turmoil. If the military spouse is a licensed professional, too often the process of transferring or qualifying for the same professional license in a new location is a lengthy process. By the time all of the paperwork and other red tape are completed to qualify for a local position, it’s time to move again. For this reason, a military couple will frequently be forced to rely solely on the income generated from Uncle Sam. With the average military family paycheck estimating around $52K, most military families will be forced to use credit cards, take out additional loans and other creative financing tactics just to get by. It is not uncommon for a spouse to be forced to stay behind when their soldier is deployed. Under these particular circumstances, the spouse remains in a location far away from relatives who (under normal circumstances) might offer financial or emotional support. If the military couple has children, seldom is there any one available to help with childcare. Therefore, the spouse has no choice but to pay for childcare services, which adds to financial problems. For starters, the spouse is instantly thrown into a “single parent” role. Yet, whereas the average single parent would typically remain close by family to receive help, the military spouse has no one. Obviously, the life of a military family has enough drama to encourage content for popular television shows. Unfortunately, these conditions are often overwhelming for both parties and failed marriages are not uncommon. A soldier returning home to an empty home because the spouse couldn’t take the enlisted lifestyle any longer is just one more grief our military troops encounter. Spouses and children of those in the Armed Forces aren’t the only ones whose lives will be negatively affected by a soldier’s military duties. Parents, grandparents, siblings and other family members are also significantly burdened. A large number of these families will be forced to deal with the reality of their loved one’s death, injury, receiving a message stating the soldier’s missing in action, or some other devastating news as a consequence of a soldier’s commitment to protect our country and our freedom. Recently, a young veteran (not more than age 25) had recently returned home from Iraq and found work in a local gas station. The young man had been injured while deployed and had become addicted to pain medication. Apparently, he had taken too many pills and was unable to conduct a single transaction. Several customers were waiting in line to cash out. The police were eventually called and the situation was carefully handled. Questions of concern quickly came to my mind, “What is our government doing to provide for the care of this young man and other veterans who have risked their lives for our safety and independence? Are they simply handing out pills and sending veterans on their way to deal with their own problems?” My heart goes out to these men and women. Our military personnel basically give their lives to benefit our country, but when they return to America it seems our government,and our citizens,give little regard to the fact that these soldiers will never be the same and must learn to adapt to whatever their altered circumstances may be. Just recently, I discovered there are seedy lenders who repeatedly target American soldiers and veterans with so-called discounted “military loans. Sadly, many of these businesses are not out to help our military at all. They simply use this tactic to increase their own profits and actually make matters worse for those servicemen and women who fall into their deceitful trap. Low rates are offered for loans, but other terms are cleverly hidden (in small print) and prevent the borrower from paying back the debt without high costs. Therearetrustworthy, private lenders who will offer low rate, short-term loans for military personnel and veterans. Chapes JPL has bee operating from Atlanta since 1980 and is one of the oldest and most reputable asset based lenders in the business. Chapes offers secured loans for civilian customersat less than 10% interest per monthwith the ability to make payments towards the principal at any time during the life of the loan. The average pawnshop and private loan company will chargeas much as 25% interest rate per month without the ability to make payments toward the principal. Chapes JPL was founded as an effort to provide a better quick cash alternative for good people and guarantees an even lesser rate for military servicemen and women. All appraisals at Chapes JPL for gold, silver, fine jewelry, diamonds and designer watches are free. Their lending methods are highly discreet, as they meet with each client individually at one of two boutique office locations, which are situated within extremely secure financial buildings in Atlanta, Georgia and Boca Raton, Florida. Every collateral item pledged with this private lender is photographed, insured and kept safely in bank vaults. To find out more, please visithttp://www.chapesjpl.com. ...read more
By Chapes JPL Jewelry Pawn Shop Lender October 02, 2012
Most investors can get started with creating a portfolio by paying off debt and saving money for investments. Most investors want a high performing investment portfolio. If you are planning to invest, then you will need to develop strategies and objectives. ...read more
Are you looking for a good investment tip? By searching the Internet you can explore investment companies by visiting their websites and signing up for their newsletters.The newsletter can provide you with up to date tips on smart investment leads. ...read more
