by Jeff Rose
When I left my previous firm and decided to start my own business, my partners and I had some tough decisions to make as to what are business structure might be. No matter what industry your business is in, it is important to ensure it is set up correctly for several reasons to mostly include liability and taxes. Two common types of business filing are the Limited Liability Company (LLC) and the C Corporation. If you are unsure which choice is right for your business, here is a breakdown of setting up the LLC vs the C Corporation.
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by Miranda Marquit
Sometimes they can be hard to see in the fine print, but you should be checking statements and account terms to see what types of fees you are being charged — and then determining if there is a way to avoid them. While fees may not always be huge, it is possible to be “nickeled and dimed” to the point where fees begin to add up, representing a somewhat significant chunk of money that could be working for you, instead of lining someone else’s pockets. Here are 5 fees you should be avoiding:
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When I first got started in the financial planning industry, I had the opportunity to sit in on a joint meeting between my clients and a wealth management specialist that came down from my home office. The nature of the meeting was to discuss some estate planning strategies that my clients were interested in to protect their assets.
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While you consider your retirement portfolio of investments, ask yourself a simple question. How steady is my fixed income portion of the portfolio?
First, let’s review: there are 3 major classes to consider when allocating our assets (what investments to buy with our savings for retirement):
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This is a guest post by Raza Imam of The Coffee Maker Store… on a mission to be the coolest coffee maker site on the planet. Visit his site for the best coffee makers and a growing selection of coffee maker accessories. This is a little different than my usual style of guest post, but I couldn’t resist. First of all, most everyone I know drinks coffee – me included. I knew there had to be some good information to share on how to save money on coffee. So for all my coffee people, this one’s for you. Grab a nice hot Cup of Joe and have a read.
Beside death and taxes, there are two other things I know to be true 1) people love coffee and 2) people love money (sometimes in that exact order). So if the first thing you look for in the morning is your beloved coffee, then listen up, because the following tidbits could save you hundreds, even thousands, of dollars per year. Sound far-fetched? Consider this; coffee is the second most highly traded commodity in the world, after oil. Some studies say that Americans consume about 10 pounds of coffee beans per year. To put it simply, as $10 billion per year industry, coffee is big business.
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Taxable Build America Bonds (BABs) extended a recent run of outperformance relative to both U.S. Treasury bonds and Corporate bonds despite an uncertain future. Last week, strong investor demand helped the market digest one of the heavier weeks of new BABs issuance witnessed this year. Municipalities that issued BABs took advantage of low interest rates and strong investor demand for yield to issue new bonds. In addition to yield, relatively attractive valuations also boosted investor demand despite the uncertainty. We believe BABs have proven successful enough in financial markets that they can continue to be used by income-seeking investors with or without new legislation to extend the BABs program.
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When it comes to different types of retirement plans there are more than you might be aware of :401k’s, 403b’s, Keogh Plans, DB(k)’s. Is your head spinning yet? One lesser know retirement plan is the 457 Plan (it’s often referred to as a Deferred Compensation plan or Deferred Comp). It’s a lesser known retirement because it’s only offered to certain types of employees.
State and local public employees and sometimes nonprofit organization employees are often offered the 457 retirement plan. Only employers who are exempt from paying federal income taxes and non-church organizations can offer 457 plans, including:
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Most parents want to name their children as beneficiaries of their trust and/or retirement accounts. Children without financial experience are often not mature enough to handle large amounts of money left to them, and by law – minors cannot manage an inheritance without an adult administering the assets until they reach the age of majority in their state, anyway.
It is best to choose someone over the age of 18 (or 21, depending on the state the minor lives in) to become the professional trustee of your minor’s inheritance until they are old enough to manage it themselves.
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The following article is by Bob Lotich who writes for ChristianPF.com – a blog that looks at personal finance using Biblical principles.
From 1945 to 1964, Americans gave birth to seventy-six million children. These seventy million some-odd children, the Baby Boom generation, are now seventy million adults reaching retirement age, or else getting close enough to retirement age that they’re starting to think through financial goals for their golden years. For Baby Boomers, what financial goals should be most important, especially during these difficult economic times? Here are five smart financial goals for Baby Boomers.
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Staci Fagal writes for Teaching Money to Kids, a site devoted to Growing Money Savvy Kids. Staci’s other super powers are keeping other people busy, building intricate wooden railways, and raising a family of six on less than 30k a year.
College is expensive, but just because you may qualify for the loan, or grant, doesn’t mean you have to use every penny. Besides shopping around for a good college, and a good loan, there are a number of other things that you can do to bring down the cost of college.
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Many Americans are frustrated with the pace of the economic recovery; many Democrats are worried that their party will lose its majority in the House and Senate. As elections loom, President Obama has offered a new platform of tax initiatives for Congress to consider and potentially approve.
Extending the Bush-era tax cuts (for the middle class).
President Obama wants to extend the EGTRRA and JGTRRA cuts of the last decade – but not to what Treasury Secretary Timothy Geithner referred to as the “most fortunate 2% of Americans.” Taxpayers who earn more than $250,000 would see those tax breaks disappear in 2011, while others would still benefit from them.1
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One the realities of our credit-run financial system is that you need to have some way of proving that you will meet your obligations. You know that if you do not have a sufficient credit history, or if you have poor credit, you might need a co-signer.
But what if you are the co-signer? If you have good credit, you might find yourself facing requests from friends and family to help out by co-signing on a loan. However, before you sign on the dotted line, it is a good idea to realize what you are getting into and what co-signing a loan really means.
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How Steady is Your Fixed Income?
by Jeff Rose
While you consider your retirement portfolio of investments, ask yourself a simple question. How steady is my fixed income portion of the portfolio?
First, let’s review: there are 3 major classes to consider when allocating our assets (what investments to buy with our savings for retirement):
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