In this report, we’re going to explain some of the different factors, both positive and negative that can affect your financial security,
so you’ll be fully aware of the potential outcome.
Please consider the following:
- A stock market that has historically had major corrections that have collectively cost investors millions of dollars! That same stock market has also made investors millions of dollars as well.
- Why what’s happening on the other side of the world could affect you right here in your own backyard. Positively as well as negatively.
- Many local governments across the U.S. face steep budget deficits as they struggle to pay off debts accumulated over a number of years. As a last resort, some filed for bankruptcy. http://www.governing.com/gov-data/municipal-cities-counties-bankruptcies-and-defaults.html
- CD rates at banks, where are they headed? www.money-rates.com/advancedstrategies/cd/will-cd-rates-rise-in-2014.htm
Do you think things will get better or worse? Who do you think will pay for the huge federal deficit running at 50 billion a month? You think you’ve done all that you could to protect whatever you’ve already built up. But honestly do you really know if you have the best possible plan to for your future growth. Each of us has our own personal goals that we are striving for. Unfortunately, there are just as many factors in the world that could totally derail you reaching your goals.
We in the U.S. are no longer the only game in town. For years, the Untied States ruled all aspects of commerce and business around the globe. That is simply no longer the case. There are so many global issues that affect the market today that it would be truly arrogant of us not to realize that while we are still a major player, we are no longer the biggest kid on the block. Or, that we will always win no matter what.
As with anything in life, it’s all a matter of perception.
The real facts of what the economy is doing is not the issue. It’s the public perception of the economy that matters. Also, people’s perception of other’s views is a major factor in stock market movements. If people think that others think the market is fine, they will jump in, which will lead to a huge band wagon effect. We’ve seen a lot of this happening this past decade, with people just buying into the market based on the fact that everyone else is doing it. .
The key, we were told was to have proper diversification!
You have to spread out the risk appropriately. It’s critical not to put all your eggs into one or two baskets. Of course you can diversify through the different investments themselves. Such as: Cash equivalents, Stocks/equities, Bonds/loans, Real estate, Hard assets (e.g. gold).
However during the last market downturn they behaved pretty much same and went lower so perhaps rules of diversification need to be re-evaluated as well! Have the rules changed? So let’s now consider four investing issues
Issue Number 1:
THE CASE FOR NOT LOSING MONEY!
Portfolio Approximate Return Years to break even
Is Down needed to recover Assuming a Return of:
3% 5% 8% 10%
10% 11% 3.6 2.2 1.4 1.1
20% 25% 7.5 4.6 2.9 2.3
30% 43% 12.1 7.3 4.6 3.7
40% 67% 17.3 10.5 6.6 5.4
As you can see simply look at any of the percentage losses in the left hand column. Take the 40% loss as an example. You need 67% to get back to where you started from, if your portfolio returned 8% it would take you 6.6 years to recover. At a return of 10% it would take 5.4 years. Going forward should you need to re-evaluate the cost of losing money in your portfolio?
Issue Number 2:
The Lost Decade
DEFINITION of ‘Lost Decade’
The 1990s for Japan, and the first decade of the current millennium for the United States. “Lost Decade” was a term initially coined to describe the Japanese economy in the last decade of the previous millennium. The bursting of a massive real estate bubble in Japan in the 1980s led to sluggish performance, not just in the subsequent “lost decade,” but in the following one as well. The term has also been applied to describe the state of the U.S. economy from 2000 to 2009, as an economic boom in the middle of that decade was not enough to offset the effects of two huge recessions toward the beginning and end of that period.
BREAKING DOWN ‘Lost Decade’
By most measures, the period from 2000 to 2009 was a true “lost decade” for most U.S. households, as steep declines in real estate and stock prices resulted in massive wealth erosion. The S&P 500 recorded its worst ever 10-year performance in that decade, with a total return including dividends of -9.1%, which was even worse than its performance during the 1930s depression.
Indices are un-managed and investors cannot invest directly in an index. Unless otherwise noted, performance of indices do not account for any fees, commissions or other expenses that would be incurred. Returns do not include reinvested dividends.
The Standard & Poor’s 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. It is a market value weighted index with each stock’s weight in the index proportionate to its market value.
Issue Number 3:
Not Recognizing That Bear Markets Occur In a Historical Fashion
The specific dates below coincide with points in United States history have impacted the stock market. Events such as world wars, recessions, depressions, and attacks on US soil. There are also many positive economic developments as the internet, the personal computer, the housing boom. These events have affected the stock market in a positive fashion.
September 1929 to June 1932
S&P 500 high: 31.86 Low: 4.4 Loss: 86.1 percent Duration: 34 months
May 1946 to June 1949
S&P 500 high: 19.25 Low: 13.55 Loss: 29.6 percent Duration: 37 months
December 1961 to June 1962
S&P 500 high: 72.64 Low: 52.32 Loss: 28.0 percent Duration: 6 months
November 1968 to May 1970
S&P 500 high: 108.37 Low: 69.29 S&P 500 loss: 36.1 percent Duration: 18 months
January 1973 to October 1974
S&P 500 high: 119.87 Low: 62.28 Loss: 48.0 percent Duration: 21 months
November 1980 to August 1982
High: 140.52 Low: 101.44 S&P 500 loss: 27.8 percent Duration: 21 months
August 1987 to December 1987
S&P 500 high: 337.89 Low: 221.24 Loss: 33.5 percent Duration: 3 months
March 2000 to October 2002
S&P 500 high: 1527.46 Low: 776.76 Loss: 49.1 percent Duration: 30 months
October 2007 to March 2009
S&P 500 high: 1565.15, Oct. 9, 2007 Low: 682.55, March 5, 2009 S&P 500 loss: 56.4 percent Duration: 17 months
So let’s get real serious for a moment. You have just read about the market conditions and potential political factors that could affect all of us, and our children. Mostly likely you remember the US bear markets of 2000 and 2007.
Now It Is Imperative That You Consider Three Key Questions. You Need To Answer Them Honestly If You Expect To Be a Successful Investor!
Over your investing lifetime do you expect there will be more bear markets? I can’t answer that for you. You need to form your own opinion.
Do you believe that interest rates will head higher at some point in the future? And how would that impact your portfolio? Once again, you need to form your own opinion.
Now that you have been shown the potential cost of losing money, the frequency of bear markets (no doubt you have lived through one or two). Japans attempt to jump start their economy with record low interest rates and high debt. Do you have anything in your investing arsenal at this moment that can help deal with these issues? Has your investment advisor mentioned these scenarios to you? Do you think they could be important to your financial future?
You have two choices as I see it:
Maintain the status quo and hope for the best, or schedule an appointment to discuss potential resolutions to the issues mentioned above. Please note there are no guarantees.
Or consider the definition of insanity by Albert Einstein:
Insanity: doing the same thing over and over again and expecting different results. Albert Einstein. Brainy Quote
With this in mind, I am offering you at no cost, or obligation, an interview to determine if you’re in perfect shape with no need of any help, or need some assistance with developing a strategy for your financial future!
These interviews are strictly information gathering. I will not try to sell you anything, or do anything other than ask you quite a few questions, listen to your answers, and mutually determine if there’s any reason for us to get together in the future. If I cannot help you, but other professionals could, I will tell you that. And, if I think I can help, and I think you qualify for my services, I will explain the circumstances of how that might work.
You’re free to, what you want to do from there since there’s no cost, and absolutely no obligation.
Many people take this offer to provide this free review. At a minimum you will potentially know more about your financial situation than you did before you came in.
You may learn what, if anything, is wrong with your financial situation based on your goals and objectives and what you can do to fix it now, before it’s too late.
So, why not call now, while this is fresh in your mind. If you really don’t know your overall financial situation, take action now, before something happens. What have you got to lose? Isn’t it worth an hour or so of your time to give serious consideration to potential strategies for your financial future? Call 610-292-0135. I look forward to your call.
Send Me Your Email Address and Phone Number and I Will Email our Latest Performance History Since The Last Bear Market In 2008. Then You Can Decide If We Should Set Up Personal Face to Face Meeting Or A Simple Phone Call Which Will Take No More Than 5 Minutes To Review The Performance Results, To See If This Is Right For You.
David M. Warrick CFP, EA
“Admitted to Practice Before The IRS”
J.C Warrick & Co.
1109 West Main Street
Norristown, Pa. 19401
Securities and investment advisory services offered through Brokers International Financial Services LLC Urbandale Iowa, Member Finra/SIPC. Brokers International does not provide tax or legal advice and is not affiliated with J.C. Warrick & Co Inc.
Most People Want To Pay Less Taxes… But They Just Don’t Have Time!
What About My Tax Return?
If you’re like most people we talk to, you’re not excited about paying higher taxes, or overpaying on other financial expenses. This simple truth is, most people lost thousands of dollars every year in missed tax deductions, duplicate expenses, unnecessary insurance costs, loan interest, and hidden fees that they simply don’t have time to carefully review.
Listen to Joe’s story,
Joe got his W-2 and wow!” I made that much? Where did it all go? Look how much the IRS took for taxes! And what’s all that FICA/FUTA/Medicare Tax stuff?” Joe thinks. Then he picked up some papers from his mortgage company. “Look at all the interest we paid on our mortgage just in one year!” Joe is a conscientious hard working American and starts to wonder out loud. “What are we going to do about our tax return this year?” We have to do something to get some of this money back in our pockets!”
“We went to one of those Storefront chain operations last year”, he says to his wife Barb. “They took 20 minutes, gave us a handful of papers, billed us $875.00 dollars (because of The Affordable Care Act) and still had my Social Security Number wrong.” Barb says, “My brother Frank could do our taxes like before.” “Yeah, and have the whole family know my business again. I don’t think so.” Replies Joe.
“What about an accountant, they can certainly keep things quiet Joe,” says his wife. “They’d be OK I guess, but Bill at the office had his done last year by an accountant. He waited over two and a half months to get his return back from them. They billed him over $750.00, and I know we make more money than him even though our investments are just about the same. It
just doesn’t seem right, they did his taxes, didn’t really save him any money, and their only suggestion was to have more money withheld from his pay!”
Does any of this sound familiar? At this time of year millions of Americans are faced with a big problem. How do I file my taxes, keep more of my heard earned money and keep the IRS away?
If you are like most of us, these days of world crisis, economic slowdown, and general confusion have you downright worried. You know what. You should be! Last year has set records for government foul-ups and totally unpredictable markets. Scary times.
And the government tried to help by getting the United States credit rating down-graded! It’s the same old story. They play and we pay! The Congress in all its infinite wisdom has taken a bad situation (the Tax Code) & attempted to simplify it. As usual, they made it worse. It’s like a baby with a hammer. You just hope it doesn’t do too much damage before you can take it away.
The IRS (you’re guilty until you can prove otherwise) has stepped into the 21st century. Their vast network of new personal computers, mainframes and programs just means they can make more mistakes, faster and more consistently than ever before. They now match every W-2, 1099 and their totals against your return.
Does your tax preparer have the currently updated training, background and skills to deal with all this AND still save you thousands of dollars in taxes and other expenses?
Lets look at the alternatives?
The Storefront chains or “Tax Returns R Us.” You know the ones, with the TV commercials. They didn’t tell you that they just finished running ads for college kids to work for them The kids who are just finding out where to put their debits and credits, who have never even seen a tax form before.
Most people have had the experience…. You walk in, a college kid with a new calculator Mom got him for the holidays sits you down and in 20 minutes gives you a handful of forms & a bill for $375.00. You file your return and four months later the IRS sends you a letter. There’s a missing SSN and some math errors on your return. You call the office; the kid is back in college trying to get his eraser to work. Sally, the hairdresser was assigned your case and she will return your call as soon as she finishes the wash and perm on Joan. You know now, that whatever happens you’re going to owe the IRS money!
You think, there must be a better way to get these tax returns prepared. Is there some way I can pay less income tax and save more? The “do it yourself” approach would probably be the way to go if there weren’t some major hurdles in the way. First, after spending eight to ten hours a day handling your job or business, you come home tired. Raising a family takes more energy and work than “work itself”. Where are you going to find the time to start a third full time job of becoming a tax expert?
Aren’t they already taking too much of your money? Wouldn’t you like to be in some control of your taxes? What about spending all your free time (you know the 1-2 hours at the end of an already too long day) studying the ever-changing tax laws. In your heart, you know that that’s no answer at all.
Maybe skipping some more sleep? I think most people are losing enough of that already from worrying about their taxes, the economy and their jobs.
What about Uncle Harry or your brother in law? He does his own taxes. He’s offered to do yours. Just like last time. He takes your W-2 and your interest statements from the bank and in 10 minutes your returns are finished. In less than 24 hours everybody in your family and half the neighbors know all your business. You’ve had enough of that.
Remember how you hoped it would all go away? The IRS is still sending you notices for that year. The neighbors are still laughing when you walk by. And you are still paying too much in taxes to the IRS. Everyone says they can do your taxes, but is anyone actively trying to save you thousands of dollars in taxes and other financial expenses? You’re running out of alternatives!
The Tax Guy that did your return two years ago. Remember, you thought he moved out of the area. He took your papers, sent you one copy of the return to file, with that bill that reminded you of what Mom and Dad always said, “You get what you pay for”. Then he disappeared, never to be found to answer your questions. He never even returned your paperwork! He just called last week, he wants to “help you” again. Do you really think so?
The accounting firm down the street. Yes! They can help. Can’t they? It seems like a nice office. They should at least be accurate. CPA’s are supposed to be up to date on taxes and have specialized training. They should keep things quiet so you can at least look at your neighbors & family without the whispering.
But remember Bill at the office. He went there last year. He sat at their $2000.00 conference table. They took his W-2’s, Interest statements from the bank and they at least asked for his real estate tax bill and mortgage interest statements. Then he didn’t hear anything from them for over two and a half months when he called them!
They finished his returns, stapled them in a folder and billed him over $1200.00. Their only idea was to increase the amount of money withheld from his pay so he’s get a bigger refund. Bill called them during the year, to discuss his situation, and they billed him for the time on the phone!
You see, they make most of their money by providing high priced bookkeeping, payroll and accounting services for small businesses. They do the monthly books, payroll and estimated taxes for the garage, the dry cleaner and the neighborhood restaurant. Being an accountant or a CPA doesn’t guarantee that they can handle your taxes and find ways to save you money! It may not be their fault. They just don’t have the time either. They all take the papers, fill in the numbers and you pay and pay and pay. The taxes plus their fees! Have any of them really saved you money or have they just filled in the numbers on the forms?
We’ve developed a proven 3 step Personal & Small Business Tax Preparation and Planning Program. Our program is designed to save you money!
Step One: Assessment, where you’re at, where you want to go and what you want to do. By discussing with you your current situation and your attitudes towards money, business and taxes, we can determine, with the information you provide, what affects you and your taxes. We can show you ideas on where, when and how to save your tax dollars.
Step Two: The Return. After we understand you and your objectives, we will evaluate the information and documents you provided. We will assess if items are missing or incomplete. We will prepare your return then computer check for accuracy. (The same checks that the IRS uses to examine your return.) Then we will check your return against our computerized audit scanning software to identify areas that may cause you problems in the future. This step alone could save you thousands of dollars in taxes, penalties and interest.
Step Three: The Two-Year Comparison. This key step will show you where you are in relation to last year. Are you gaining or losing? The comparison checks: Income, deductions, exemptions, and both Federal and State taxes. This, along with our personal assessment of your Comparison will start your Tax planning and saving for next year. We will also help you implement the personal actions that will achieve the results that you want. We will help guide you through, monitor your progress giving you the tools to see your taxes under control.
IN ADDITION, AT NO COST TO YOU, you will receive FREE the “1 Hour Tax Reduction Summary” report. In this one concise report, you’ll learn ways to save thousands of dollars in taxes and other financial expenses that most people frequently overpay.
Call me at 610-945-1954. Or email me at firstname.lastname@example.org Is this fair enough? Looking forward to your call.
David Warrick, CFP, EA
1109 West Main Street
Norristown, Pa. 19401
P.S. All I’m asking is that you talk with me to see the kind of results that I can produce for you.
PSS You know, if you really think about it, the only way you can truly lose is if you fail to respond to my free offer. And if you fail to respond, you’ll never know. Please take the first step to start feeling better now. Just pick up the phone and call. Just do it Now! I promise, I guarantee you’ll be happy you did.
Let me ask you a question: Except for the death of a loved one, can you think of a time in our lives that brings more confusion, more anxiety, and more worry than when we’re changing jobs?
All the questions that come into our minds. Questions about our ability to take care of our families. Questions about paying bills.
Questions about health coverage and other benefits. Questions about cash flow. And, the deepest questions about our emotions.
The questions about how we feel about ourselves, and our future, and what effect all this will have on the most important people of all; our family. These feelings are very disturbing. Not knowing how your emotional and financial state will be in the future, adds even more stress.
For example, see if this story sounds familiar:
Ray slowly approached the kitchen table. He didn’t even remember pulling out the familiar chair while he sat down, as he had done a million times before. He felt very melancholy as he opened up the paper to the classified ads, and flipped through to the want ads. It had been so long since he had even looked at those ads, he had to check the index to find where they were located. He sighed as he put on his new bifocals (which he hated having to use, because they reminded him of all the changes in his life) and scanned the different headings of job classifications.
GOD, he didn’t realize all the qualifications people wanted for jobs he thought should be able to get with no problem. (Now he saw it was really going to be a problem.)
He took his glasses off and kind of gazed out the patio doors. He saw the “Hot-Wheels” his granddaughter, Jessie, had left laying on its side, on the grass. Her pink and blue ribbons hanging out of the handles, blew in the breeze, and sent his memory back to when his daughter, Linda, was the same age. He thought about how excited he was to come home and tell his wife, Peggy, that he just landed the job with a major drug research and manufacturing firm in Pennsylvania! All those years of school finally paid off. He remembered fondly that Linda came in from the patio, just as he walked in the door to tell Peggy the good news. She had no idea why her daddy was so happy because she was so young, but she could just tell something great was happening, and gave Ray a big hug.
Now, 24 years later, the joy of that moment in the exact same spot long ago, seemed like ancient history right now. Ray put his glasses back down, and started looking at the paper again, as Peggy came in with a cup of tea. She sat down next to Ray, and forced a smile. “Hi, honey. Anything look interesting?”, she asked, in an upbeat voice. “Well, I don’t know. I’ve only looked here for a couple of minutes, but these companies want all these advanced degrees and everything. Hell, I know more than 20 of these MBA types put together, but I don’t have the piece of paper to prove it. And, at my age now, I’ve got the added problem of them not wanting us “old guys” of 51 years…” Ray stopped in mid sentence. His mind started to drift off again, into another series of worries. He began with worrying about what he would do with himself. Would he be able to get a job with any future at all?
Would he have to work in a hardware store selling nails? Would he even get any job? Then, he started to get angry. “How could they do this to me? I gave them the best years of my life, and this is the thanks they give me! I’m so mad, I could…”
Peggy interrupted him. “Ray, I know how bad you feel. We all do. It’s not your fault, honey. There is nothing you could do about it. They just decided to eliminate all those positions, and we got caught in the squeeze.” “It’s just not fair! They kept all those people who are not productive, but all of us who brought in revenue got dumped. It’s so, so, …”
He stopped again. He realized that getting angry was worthless, and a waste of time. (Although it didn’t seem to stop him from getting mad, quite often, over the last few weeks.) Ray and Peggy stared at each other without saying anything for a few seconds, that seemed to be an eternity. They really didn’t know what to say to each other any more. There’s only so much you can say. What do two people who have raised a family together, and been through so much together say when things look this bad? They really didn’t know themselves. Finally, Ray broke the silence.
“I just don’t want you to worry, babe. We’ll get through this one. Everything will be OK.” He patted her shoulder as she set her cup of tea down. As usual, she leaned over and gave him a kiss on the cheek.
“I know,” she replied. “At least I’m working, and Jerry only has two years left at school. It could be worse, I guess.” (She tried to sound optimistic.) “Yeah, things could be worse.”, Ray answered. “Oh, by the way, what was that article you saw in the newsletter from the accountant that you mentioned yesterday. I forgot to ask you when we got interrupted for some reason.”
Peggy answered, “I’m not sure. It was something about not doing the wrong thing with a distribution from a previous job. Something about some kind of penalty or something.” Ray pulled down his new bifocals to the tip of his nose and peered over them at Peggy. His face got sort of whitish, and he was afraid to, but he had to ask to see the article. She got up and grabbed it out of a pile of mail, some opened and some unopened. Peggy gave it to Ray and walked over to the stove to freshen up her tea. Ray found the article buried on the last page of the newsletter.
It mentioned the fact that if someone receives a distribution from a company plan because of a
job change or retirement, that the money must be rolled over directly into a new plan. The old type of 60 day rollover, where you could receive the money, hold it for 60 days, and then roll it into an IRA or other qualified plan, was now illegal. Ray kept reading about how, if you did this, the company had to withhold 20% of the distribution. And, to make matters worse, if the employee wasn’t able to replace the withheld money out of other funds within the 60 days, the withheld amount would become taxable income and be subject to penalties!
His face went numb. He had just talked to the benefits office last month. He thought he remembered them asking him if he were going to be able to roll the money over, or some such talk, but he was so shell shocked at the time, he just didn’t remember. He ran to the phone to call Jack, his old friend in the benefits department. He wanted to check on what he had done. He was praying he had set it up right. As he hung up the phone, he realized he was going to need more than prayers.
“How will I tell Peg?”, he thought to himself. “We are going to have to come up with over $42,000 in the next couple of months. Where are we going to get that kind of money?!” This story is one that we’ve been warning people about. We’ve been telling people that the IRS has just added another weapon in their arsenal of disgusting tax increases.
Believe me when I tell you this couple is no different than millions of other families. Families who are facing the most difficult times in their lives. Families who are facing the reality that the world they have known is never going to be the same. Families who wanted nothing more than to work hard, give their kids the best shot at getting a start on life, and to retire in relative comfort.
Not greedy people. Or “takers.” No, just ordinary Americans, living the legacy handed down to
us by our parents, and their parents. The inheritance we all received from earlier generations. A
birthright that gave us all the chance to live a life that no other country in the history of the world could ever achieve.
A life with freedom of opportunity, freedom of choice, and freedom from being a victim of the government. So what’s happened? How did we get to the point where countless numbers of us face the reality of not being able to…
Have A Decent Job, Or Retire In The Same Lifestyle We Had During Our Working Years!
Why is this the case? What happened to America, and her ability to provide financial
security for her citizens? Well, in my opinion, the answers are very complex, yet simple
at the same time. It all boils down to one basic element:
Lack Of Any Concern About Planning For Tomorrow!
Unfortunately, most of our elected leaders, and managers of our businesses, have been playing a very dangerous game. For many, many years now, they have been focusing on maintaining the status quo. On keeping their eyes on what’s easiest to do for today. Always looking ahead by one or two days. Finding the path of least resistance to keeping their jobs. Which means, concentrating on controlling things with little or no eye on how their decisions will effect us in a month. Or in a year. Or in ten years. And now, all those short term decisions are coming back to haunt us. We are all paying the very heavy price for our “leaders” short vision. We are all living their legacy of overspending, overestimating and overindulging. We are seeing the once very stable job market collapse before our very eyes. (The US Bureau Of Labor Statistics says that this “recession” will cause only 15% of laid off workers to get their jobs back, compared to 44% in previous recessions!)
Is this a recession, or a complete change of our economy? I don’t know for sure. You don’t know for sure. But, there is one thing I do know for sure…
Those Of Us Who Are Being Laid-Off Or Retiring, (Or Deciding If They Can Retire) Had Better Do Some Heavy Duty Planning For Themselves!
Since the people in power have done little planning for the future, we are in the mess we’re in today.
So, you cannot afford to repeat the same mistakes. You cannot afford to worry only about today, with no eye for the future! And, let’s look at all the decisions you are facing that will require some very careful planning. Decisions, which if handled incorrectly, could put you in big financial trouble:
Deciding how to receive your lump sum distribution. How should you take it? (Especially being aware of the 20% withholding disaster penalty!) Determining if your retirement plan money will be subject to other penalties, such as the excess accumulations penalty. (Did you know you could pay another penalty if you have too much in your plan, or take too much out of the plan?)
How to plan your spouse’s company benefits with this new situation. (Should they still contribute to the 401(k) plan? Should they change their various insurance coverage’s? What about your spouses job? Is it safe?) Deciding how the distribution should be invested. (How much in cash, how much in other vehicles? Who should be the trustee or custodian? What’s the right way to manage the account?) How to avoid the biggest mistakes people make when handling a relatively large sum of money. (Not diversifying properly. Not using investments that provide the opportunity to beat inflation. And so on!)
Not knowing how much, if any of the distribution should be kept for current needs. Deciding which choices and options to utilize for health insurance and other company benefit issues. Figuring out if taking a different job might be smart or dumb, when it comes to benefits, cash flow, taxes, and so on. Understanding the income tax costs of any decisions made. This is so critical, yet most people depend on an accountant, or someone from the company to help them make tax choices. You have to understand that these well intentioned folks, just may not know all the ins and outs for you!
How to tell if your cash flow will be enough, both now, and for the future! Deciding how to keep things like college funding going along. (Should you keep paying for it out of pocket? Should you use some money from your distribution? Should you borrow or get other loans?) How to address the issues of your debts. (Should you refinance your house? Should you pay it off? What about your other debts? What happens to them?) How you should deal with everyday costs, like getting a new car. (Did you lose your company vehicle? Or is that old clunker on its last legs? What about your daughter’s need for a car at school?) How to arrange your assets. (Who should own them? Should they be in joint ownership? What if things don’t improve financially? What will happen if we own everything together?) How to allocate your assets so you don’t get caught in the look-back window and commit a federal crime if you or your loved one needs to apply for Medicaid. The very real situation of having to take care of your parents. (How will their getting up in years affect you, financially?)
How to deal with your kids, and, maybe, their kids! (What if they want to, GOD forbid, move back with you?) How to decide if maybe, getting into business for yourself is the right way to go. (With all the tax and financial decisions that go with that move! How much to invest. How to arrange for
benefits. How to plan for the cash flow needs, both personal and for the business? And on and on!)
How your estate should be arranged should something happen to either one of you. (Simple wills are better than nothing. Which is what a lot of us have, but may be very inadequate with all the complexities of family life!) Is that enough stuff to think about? Has some of that kept you up watching cable TV, late at night? And then, as if that weren’t enough, what about all the emotions you feel, while trying to make all these choices? (Making all these huge financial decisions while being emotionally drained is not the best way to go!)
The feelings of: Anger. (Towards your company, or the government, or whomever.) Guilt. (Maybe I somehow caused this. Have I caused some real pain for my spouse and kids? Will they be OK? Should I have been able to see this coming, or, somehow prevent this?) Fear. (What’s going to happen to us? Will we make it? Will I have enough money?) Betrayal. (How could they do this to me?)
Anxiety. (What will I do with myself?) Doubt. (Am I going to get through this?) Lack of control. (What can I do to get things back under control? I feel lost sometimes.) That’s a lot of emotional baggage to drag around, yet it’s perfectly normal. Who wouldn’t feel this way? Let me tell you that mostly everyone going through this changing life has all these emotions, and more! So what next? Is there some solution to all this? In my opinion, there is.
Learn How To Create And Follow A Money & Tax Planning Map!
Or, in other words, you need to find out how to plan for your future like you plan a trip to drive out west to see the kids. Or, Establish realistic goals. Be specific about what you really want. (Just like the destination of your trip. A place where you want to end up!) Take a true look at where you are today. (Just like looking at the map, and seeing where you are starting from. Home base, if you will!)
See which “financial roads” will get you to your destination. (Some roads may be quicker, but not as peaceful. Others may get you there, but take way too much time and hassle!) Start on the journey, with a small, but easily manageable “vehicle,” and see how the trip is going, one day at a time. (By going nice and easy, you can pull over at rest stops, and check your progress, and see what is going on without any panic. As opposed to reading the map while driving 65 miles per hour, and feeling very scared!) You see, this designing a map for your money is one of the least used, and misunderstood areas of personal finance! Most of us make decisions based on intuition, impulse, fear, listening to well meaning, but misinformed friends, etc.
It’s like you’re deciding to go on vacation, and just get in the car without a map, start driving because the neighbor’s dog is chasing you, and make turns anywhere and everywhere! Is that any way to have a fun vacation? Will you ever end up where you want to go? Will you have any relaxation or peace just driving all over the place? Will you ever get any control of your vacation like this? I don’t think so. And, just the same, I don’t think most of us ever get a “money map” in our lives.
We all run around, driving here and there, getting nowhere. Designing this financial plan for yourself is the secret that may change your life forever. I know, because for the last 19 years, I have helped hundreds of families design and follow their “money maps” to a more restful life. A life that is under financial control.
And, I also know that without this map, people may never arrive at their destination. At least not in one piece. (Or, in “peace” for that fact either!) So, does all this make sense? Do you see how critical it is to know your choices before you get in the “car”? Another way to look at this, is that a doctor cannot help a patient until he or she does a diagnosis to see what is wrong. And then prescribe treatments based on that diagnosis.
So the patient can have a “map” or a plan on how to get well.
And, just like that doctor, the first step towards getting well financially, we need to perform a diagnosis to see what “ails you!” Now here’s what I’d like to offer you:
A FREE INTERVIEW TO FIND OUT EXACTLY WHAT YOU ARE FEELING ABOUT YOUR MONEY. A”DIAGNOSIS”, IF YOU WILL.
Yes, we will do something your doctor wouldn’t do. Provide an initial interview and consultation with no charge! And no, it will not be a disguised sales presentation. Or a “pitch”. Or anything, except a brief (half hour or so) time to review what is going on in your financial life that concerns you. And that’s it. If, at the end of the interview, you do not feel like we can help you, or that you don’t like me, or that you want to keep doing what you’re doing, etc., that’s fine. And that’s it. You go home, and we leave it at that.
Believe me, I could not be working with so many people if I was doing anything to make them uncomfortable! I can’t think of a better way to work. Can you? So why don’t you think this over for a couple of days, and see if this makes sense to you? If you have any major skepticism left, or maybe have a question or two, feel free to give me a call. You will find that when we talk, there will be zero push or pressure. If you are really not interested or ready, that’s great. If you want to talk, that’s OK too. You have to understand that I love getting new clients, and as a matter of fact, I am hired by several people each month as their advisor.
But, because I have a steady volume, I never accept clients that aren’t really excited and interested in rebuilding their future. I am going to be honest with you. I have so much fun seeing people’s lives change for the better, that I would never work with anyone who wasn’t excited and looking forward to finally getting the:
Control Of Their Lives Back Through Tax Planning!
Life is too short to “fight” people who don’t really want to PLAN FOR THE FUTURE. I hope this discussion of building a map for your life’s road makes sense. I also hope you are thinking a lot about your own life, and whether or not you feel in control of it. Or whether it is controlling you!
Even if we never talk, I want you begin to take a new view of your life. One that allows your natural joy and love be the dominant forces. So you and your family can have the best life possible. And that I have shown you how to get rid of those bad feelings. As I said before, there is too much good in life, to let worry and frustration get in the way.
I am always positive that planning may be the best weapon to stop the negative sides, and bring out the wonderful gifts we all have been given! Anyway, I’m done for now. I look forward to talking to you soon, and seeing where we go from here! Take care, and I wish you all the good luck in the world!
David M. Warrick, CFP EA
The Tax Reduction Network.Com
“Admitted To Practice Before The IRS”
P.S. You can end the frustration you feel by taking action. Just like you tell your kids, “I can’t help you, if you won’t help yourself!” And, with all the changes going on in your life, can’t think of a better time to plan for your future!
My name is David Warrick, I am a CFP and an Enrolled Agent, (admitted to practice before the IRS)
I have over 30 years experience in tax planning, tax reduction, accounting, bookkeeping and tax preparation for business owners and individuals.
My firm The Tax Reduction Network was founded to provide cutting tax reduction and financial advice to help business owners and individuals keep more of what they earn. I also teach tax planning and tax reduction to CPA’s at a major university. You can view my website at ww.thetaxreductionnetwork.com
What Does A Free Tax Plan Summary Look Like? What Does It Cost? Its Free! Would You Like To Reduce Your Income Taxes By $15,000
Tax Strategy Summary
Project Tax Savings 15,000 Dollars!
How the Tax System Works
Former President Jimmy Carter called the tax code “a disgrace to the human race.” If you’ve ever wondered how it works, here’s a brief introduction. … page 2
Avoid the Alternative Minimum Tax
The Alternative Minimum Tax has effectively become a “flat tax” for millions of families, wiping out deductions for state and local taxes, miscellaneous itemized deductions, and more. Avoiding AMT has become more important as more taxpayers become subject to the tax. … page 9
Withholding and Estimated Taxes
Withholding and estimated taxes are the key to making the tax system work. Review these amounts any time your income changes to avoid an April 15 surprise! … page 12
Family, Home, & Job
Tax-Smart Day-Care Choices
Congress has traditionally used the tax code to favor families with children. Make sure you understand how to claim Dependent Care Credit benefits. … page 14
Avoid “Kiddie Tax”
Shifting investment income to your children can significantly cut your overall family tax bill. But there are important rules to follow with children under age 19, and dependent full-time students under age 24. … page 15
Tax Strategies for College Savings
Section 529 plans, Education Savings Accounts, U.S. savings bonds, and permanent life insurance policies all offer tax advantages for your family’s college savings. … page 16
Tax Strategies for College Financial Aid
Traditional tax planning strategies can backfire when it comes time to apply for college financial aid. Be sure you understand how your tax choices affect the Free Application for Student Financial Aid (“FAFSA”) that colleges use to assess financial need. … page 17
Make the Most of Home Equity Interest
Borrowing against your home lets you convert nondeductible personal interest (credit cards, auto loans, etc.) into deductible home equity interest. However, there may be limits. … page 20
Potential Savings: Up to $250 in income tax for every $1,000 of personal interest converted to home equity interest.
Make the Most of Your 401(k) Plan
401(k) plans let you make the largest allowable contributions at most income levels. These have become increasingly popular choices for employees as well as self-employed individuals. … page 21
Potential Savings: Up to $4,500 in income tax for deferral contributions.
Strategies for Limited Liability Companies
A limited liability company can be used to help avoid self-employment tax and shift income to lower-bracket family members. Make sure you consider all of these opportunities. … page 22
Potential Savings: Up to $38 for every $1,000 no longer subject to employment tax, plus $288 in income and employment tax for every $1,000 shifted to lower-bracket taxpayers.
Strategies for “S” Corporations
Consider establishing an “S” corporation. This may help limit self-employment tax and lower your risk of audit. … page 23
Estimated Savings: $9,525, based on a stated salary of $0.
Strategies for “C” Corporations
Consider establishing a “C” corporation to provide the broadest range of deductible employee benefits. However, be aware that these corporations require the most ongoing administration to avoid double taxation and other potential costs. … page 24
Maximize Car and Truck Deductions
You can choose two different methods for deducting business car and truck expenses: “actual expenses” or the mileage allowance (57.5 cents/mile for 2015). The right choice can add thousands in deductions and easily justify recordkeeping requirements. … page 25
Estimated Savings: $2,176, based on $7,800 in new deductions.
Make the Most of Business Meals/Entertainment
Business meals and entertainment, along with business gifts and business travel offer potentially valuable
deductions. Be sure to take advantage of every deductible dollar. … page 27
Estimated Savings: $349, based on $2,500 in new M&E expenses.
Make the Most of Business Travel
Reporting business travel expenses may seem straightforward. However, combining business with vacation travel can maximize your travel dollar and reward you with tax-deductible fun. … page 29
Separate Entities for Business Assets
Segregating business assets such as equipment, vehicles, and real estate in separate entities may offer valuable tax breaks as well as enhanced asset protection. … page 31
Take Advantage of “Certain Fringe Benefits”
The tax code offers a variety of little-known fringe benefits, even for startup and sideline businesses. Make sure you take full advantage of these opportunities. … page 32
Potential Savings: Up to $288 in income and employment tax for every $1,000 in qualifying deductible benefits.
Hire Your Family
Hiring your children lets you shift income that would otherwise be taxable to you (at your top rate) to them, to be taxed at their lower rate. This, in turn, lets you “deduct” the private or parochial school tuition, summer camps and activities, and college savings you fund with their income. … page 33
Potential Savings: Up to $288 in income and employment tax for every $1,000 paid to a “zero-bracket” taxpayer.
Consider Health Savings Accounts
Health Savings Accounts let you cut health insurance premiums with high-deductible policies, then establish deductible savings accounts for you and your employees to fund unreimbursed expenses. Make sure you understand the pros and cons of this new opportunity. … page 34
Potential Savings: Up to $838 in income tax for single coverage and $1,663 for family coverage.
Consider a Medical Expense Reimbursement Plan
A Medical Expense Reimbursement Plan lets your business reimburse you for your family’s uninsured medical expenses. This avoids the usual limit for deducting medical expenses (10% of Adjusted Gross Income) and may also save self-employment tax if your business is taxed as a sole proprietorship or partnership. … page 35
Estimated Savings: $1,074, based on $3,850 in deductible medical expenses.
Consider a SIMPLE IRA
A SIMPLE IRA lets you and your employees defer up to $12,500 of income, plus $2,500 more at age 50 and up. It’s easy to establish and administer, and may offer the maximum savings for incomes under $50,000. … page 36
Potential Savings: Up to $3,125 in income tax for employee deferrals, plus $250 for every $1,000 in employer contributions.
Consider a Simplified Employee Pension (SEP)
SEP accounts are the workhorse retirement plan choice for many small businesses and most self-employed individuals. Make sure you understand how to take full advantage of the opportunity. … page 37
Estimated Savings: $2,500, based on $10,000 deferred as a deductible SEP contribution.
Consider a 401(k) Plan
401(k) plans let you and your employees make the largest allowable contributions at most income levels. These have become increasingly popular choices for self-employed individuals as well as larger employers. … page 38
Potential Savings: Up to $4,500 in income tax for deferral contributions, plus $250 for every $1,000 in deductible employer contributions.
Make Smart Use of Tax Deferral
Tax-deferred accounts such as qualified plans, IRAs, permanent life insurance, and annuities can actually cost you extra taxes. Make sure you choose the right investments to include in these accounts. … page 39
Understand Mutual Fund Distributions
Different funds can have vastly different tax implications, even for funds with similar investment objectives. Be sure you understand how your funds are taxed before you buy, to build the most tax-efficient portfolio possible. … page 44
Fixed Annuities for Tax-Deferred Savings
Fixed annuities are insurance contracts resembling bank CDs in a tax-deferred wrapper. These can help defer tax on the fixed-income portion of your portfolio, and avoid tax on Social Security benefits. … page 50
Depreciate Real Estate for Maximum Savings
“Cost segregation” strategies let you maximize depreciation deductions, even for properties you’ve owned for years. Review your properties to determine if you can use these strategies to boost your deductions. … page 51
Potential Savings: Up to $250 in income tax for every $1,000 in increased depreciation.
Real Estate Repairs vs. Improvements
Real estate “repairs” are deductible immediately, while “improvements” depreciate over time. Make sure you characterize your fixups properly for maximum tax advantage. … page 52
Potential Savings: Up to $250 in income tax for every $1,000 shifted from “improvement” to “repair.”
Hire Your Spouse to Manage Your Property
Hiring your spouse lets you establish deductible employee benefits such as retirement contributions and medical expense reimbursements. Make sure you take advantage of these opportunities. … page 54
Hire Your Family to Manage Your Property
Hiring your children lets you shift income that would otherwise be taxable to you (at your top rate) to them, to be taxed at their lower rate. This, in turn, lets you “deduct” the private or parochial school tuition, summer camps and activities, and college savings you fund with their income. … page 55
Potential Savings: Up to $250 in income tax for every $1,000 paid to a “zero-bracket” taxpayer.
Understand Capital Gains
Tax on most long-term capital gain is capped at 20%. But capital gains can cost you valuable deductions, credits and allowances, and subject you to the Alternative Minimum Tax. Be sure you understand how your gains affect your total bill. … page 60
Section 1031 Exchanges to Defer Tax on Sales
Real estate investors can take advantage of Code Section 1031 to exchange, rather than sell, their properties. This defers the tax on your gain you would otherwise pay, so you can use the savings to further build your investment. … page 61
Potential Savings: Up to $238 in income tax for every $1,000 of long-term capital gain deferred.
Charitable Trusts for Appreciated Assets
Charitable trusts let you sell appreciated assets such as stocks, real estate, or a business, avoid the tax you would otherwise pay on the gain, and take valuable charitable deductions. … page 62
Potential Savings: Up to $238 in income tax for every $1,000 of long-term capital gain avoided.
Consider a Family Limited Partnership or LLC
Family limited partnerships (FLPs) and limited liability companies (FLLCs) help minimize transfer taxes as you shift assets to your heirs and lower your family’s overall tax on FLP or FLLC income. Make sure you comply with IRS rules to take advantage of these breaks. … page 63
Avoid Probate on Taxable Assets
Probate imposes an indirect tax on assets held in your name at your death. Avoiding probate is generally not difficult, and helps maximize the after-tax legacy you leave your family. … page 64
Minimize Estate Tax
Federal income tax rates top out at 39.6%. But estate tax rates START at 40%, for estates over $5.43 million. Good estate planning can minimize or eliminate this most devastating tax. … page 65
Potential Savings: 40-90% of assets above $5.43 million.
Total Estimated Savings: $15,624
Based on the information you’ve provided, if we implement the strategies we’ve specifically estimated in this plan, we can reduce your tax bill by $15,624 or more. Potential savings from strategies not specifically estimated may be even greater.
This report is based solely upon information provided by John & Mary Smith. David M. Warrick CFP, EA has made no effort to verify the accuracy or completeness of this information, and assumes no liability for errors or omissions based on incomplete or inaccurate information.
“Potential Savings” are based on your marginal federal income tax bracket, and where applicable, marginal employment tax bracket (FICA and Self-Employment tax), as calculated using the information you provided. These estimates do not include additional savings which may be available at the state and local tax levels.
Any tax advice contained in the body of this presentation was not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions.
Why Not Call The Tax Reduction Network Today at 610-945-1954. Find Out How You Can Keep More Of What You Earn! But Only If You Can Afford To Pay Less Income Tax!
Worried About the Biggest Tax Bill of Your Life? Here’s Your Capital Gains Rescue Plan! Want To Reduce Your Tax Liability?
Selling a big-ticket asset like real estate or a business can sock you with the biggest tax bill of your life. The top rate on capital gains is up to 20%; the new “net investment income tax” is 3.8%, and state taxes can eat up 13.3% more. Depending on where you live, that means the government confiscates up to a third or more of your hard-earned gain!
How can you avoid that bill? Charitable trusts avoid tax on that gain, but mean giving away the principal or the income from the proceeds. Section 1031 exchanges defer tax on real estate gains, but force you to re-invest the proceeds into a “like-kind” property and impose tight deadlines for identifying and closing on a replacement. Are there any alternatives that don’t force you to give away your legacy or reinvest in an asset that you may no longer want? Do you need personal tax advice now?
Now you can take advantage of a little-known strategy to cut the effective cost of selling your asset valued at $500,000 or more to as little as 6.5%. It’s a monetized installment sale, and it uses a third-party dealer in capital assets to defer receiving sale proceeds (and the tax on those proceeds) for up to 30 years. It’s based on tax code rules dating back to 1913 and supported by a 2012 IRS memorandum.
Deferring tax is great, but you probably want the proceeds from your sale now. So, with this strategy, a third-party financial institution can lend you a non-taxable amount equal to 95% of the sale price (93.5% after loan-related costs). You can reinvest those proceeds or spend them however you like.
At the end of the installment period, the Dealer will pay you the agreed selling price that will provide you the money to repay the loan, and you’ll pay the tax with significantly discounted dollars. The strategy even offers significant estate-tax advantages!
Call me today for a free Tax Analysis to learn more about this strategy and see if it makes sense for your business or property! But only if you cann afford to pay less income taxes! Cell 610-945-1954
Some people stay as far away from doing their own taxes as possible. Others are more than happy to dive into last year’s finances and see where they stand with Uncle Sam. A lot of this depends on a person’s overall tax knowledge and comfort level with numbers. Let’s take a look at some of the advantages of getting an Enrolled Agent to do your taxes for you.
You Get to Work With a Human Being (Can You Get Personal Tax Advice From A Computer?)
While certain software can be very helpful, it doesn’t speak English as well as a flesh-and-blood human being can. By working with an Enrolled Agent, you can ask questions and deal with problems as they arise. But deep down, don’t you wonder whether a human accountant could find more deductions that a computer program? Over time, you might actually learn to trust the people helping you out with your taxes. Then you and your Enrolled Agent will be able to come up with some new and clever ways of saving money on your taxes—ways you would have never come up with on your own.
Access to the Correct (and Better) Tools and Tax Knowledge (Tax Reduction Strategies Are More Critical Than Ever Since The Advent of The Affordable Care Act)
Enrolled Agents, as a general rule, work with much more sophisticated tax software than an amateur tax preparer has access to at home. This means less chance of error, which can be a major benefit in the long run. Also, an Enrolled agent will almost certainly be better educated in the tax field than you are. This fact should ensure that you find the most savings possible and that you don’t get caught up in any costly tax mistakes and missed opportunities.
Save Time and Money
There’s a lot of fine print and complicated tax code to sort through come tax time. By working with an Enrolled Agent, you can navigate the ins and outs of tax law with more ease and, possibly, save money. In addition, an Enrolled Agent can assist you in charting out financial strategies and investments in advance. By thinking ahead, you’ll likely save time and money now, and year after year. If you do your taxes alone, you just might miss out some opportunities to keep your hard-earned cash in bank account, which, when all is said and done, is the goal at the end of every working day for just about everyone.
Will Your Accountant or Tax Advisor Be Discussing Tax Reduction Strategies With You This Tax Season? If Not! Maybe You Have The Wrong Accountant Or Tax Advisor!
At my firm The Tax Reduction Network, tax season has begun with a flood of new business clients and individuals, all looking to reduce their income taxes. This is the result of the huge success of our two minute tax reduction video newsletter, And referrals from existing business owners and individuals who see the benefits of tax planning and reducing their income taxes to the lowest legal minimum!
When these new clients stream into our office, to my surprise, I find they are used to just dropping off their Information and being told they will receive a call when it’s ready!
In our initial meeting I review the clients previous returns, where I normally find a substantial number of mistakes and missed opportunities that were costing these new clients a small fortune in overpaid income taxes, year after year after year. They truly need personal tax advice.
With new business clients I find their schedule c or corporate returns were never explained to them in detail. They had no idea what they could deduct as a business expense. I normally hear, “this was never explained to me,” I was not aware I could deduct that”. I ask them how they have been with their present accountant or tax advisor. The Response 10 years 15 years! When they see how much less they should have paid, their jaw simply drops!!!
One client said “the savings you showed me I could have paid for my two children’s college educations and had enough left over to buy a new truck!” “I had no idea there were so many ways to reduce your taxes.” This could have all been avoided simply by spending 30 -45 minutes and explaining what needed to be addressed to reduce their taxes to the lowest legal minimum. Don’t you think you deserve better?
Does this sound familiar? The Tax Reduction Network can help you stop the stress and anxiety at tax time. So call us now at 610-945-1954 to set an appointment, are schedule is filling up fast. Or email me at email@example.com. Sign up for our free two minute tax reduction video, at www.thetaxreductionnetwork.com As a bonus you will receive, Ten Tax Reduction Mistakes Business Owners Make, Ten Tax Reduction Mistakes Individuals Make, and The Tax Benefits of Home Ownership!
Remember, The choice is yours. Keep getting soaked with higher and higher income taxes year after year, or learn how to reduce your taxes to the lowest legal minimum!!!
Are Your Frustrated With The Amount of Income Taxes You Pay Each Year? Do You Need a Better Way To Reduce Your Taxes? Are You Even Aware of Legal Tax Reduction Strategies?
Philadelphia, Pa.- Robert was just plain angry. “I can’t believe I’m getting nailed this bad. I seem to be supporting the 17 trillion dollar national debt all by myself!” Once again, he had to write a big check with his tax return. Once again he had been told by his accountant that, “There is nothing you can do about it. Somehow Robert knew his accountant was working for the IRS. “He must be. Why else would he be so satisfied to roll-over and play dead for the government.” “I need personal tax advice”, he thought to himself “My accountant has never mentioned any tax reduction strategies that I could use!”
As Robert finished writing his check to the IRS, he was staring at his laptop and was reading a news feed when he saw the headline, “State of the Union Address Declares Tax War on Business Owners and Individuals! President Obama Prepares New Income Tax Package To Send To Congress! Business-Owners and Individuals Are in Washington’s Crosshairs!”
Robert’s blood pressure spiked! The article ended by saying while new taxes were inevitable, there were just as many new tax reduction strategies in the proposed legislation. And that most small businesses & individuals never use even a small percentage of the secrets the IRS preferred people didn’t know. “If business-owners and individuals knew how many ways there are to reduce your taxes, they wouldn’t be complaining so loudly!”, the article ended.
Robert had enough. “I’m going to learn how to fight back legally!” He knew that starting tomorrow, he was going to stop complaining and take action. He was going to learn, “The Top Ten Tax Mistakes Individuals and Business-Owners Make”, by getting a free report at www.thetaxreductionnetwork.com. You too, should learn all the tax reduction strategies that are available that your current accountant or tax advisor is not telling you about, and congress hopes you never learn!
PS: www.thetaxreductionnetwork.com has just made available a new report titled: Tax Benefits of Home Ownership! Its free when you sign up for the 2 minute tax reduction video newsletter.