It’s no secret that business owners find tax laws frustrating. That frustration was best expressed in a letter I received from a reader we’ll call Joe.
While thumbing through the pages of a trade journal, I came across this quote, “We install 90 percent of what we sell. That’s one big advantage we have over [the competition].
Do you have a large amount of money in an IRA, profit-sharing plan, 401(k) plan or other qualified plan? If so, this article will not only save you from paying excessive taxes, but will also show you how to dramatically increase your after-tax wealth tax-free.
This article is one of those bad-news, good-news tax stories.
This column is designed to help readers save taxes and create wealth (usually tax-free). Every now and then, we publish an article that hits a home run with the readers.
The pride of the American capitalist system is the successful family business. These entrepreneurs have found their way around a variety of obstacles to become “successful business owners,” or SBOs for short.
A dreaded disease is spreading like wildfire. Known by various names, the most common name is “estate-tax-itus,” an affliction that drains family wealth.
More than 90 percent of my contact with readers of this column concerns specific questions that can be answered using the “Magnificent Seven” (M7). What is the M7? It consists of seven separate strategies designed to answer tax questions and at the same time save huge amounts of estate tax or create huge amounts of wealth (usually tax-free).
When giving my tax-planning, wealth-building seminars, I like to ask the audience, “Raise your hand if you know the Rule of 72 and how it works. ” Typically, about one-third of the audience raises their hands.
Successful investing in the stock market is uncertain, and net losses can sometimes exceed net gains. So-called traditional safe investments, such as CDs, treasury bonds, municipal bonds and the like, may offer only paltry returns.
There are three types of readers who call us for help: the reader who has an estate plan but needs a second opinion; the reader who has no plan; and the reader who has been working on a plan for years and just can’t seem to get it finished. Which type are you?
Joe, a 61-year-old from Ohio, fell into the first category.
