Blog

The House of Representatives passed a $1.9 trillion relief package focused on economic relief following the COVID-19 pandemic. The bill was signed into law at the White House on Thursday.1 Beyond the much-discussed $1,400 stimulus...

Perhaps. Let me give you my perspective. Rule #1: Live below your means. Rule #2, see rule #1. Rule #3, keep a minimum reserve for emergencies. Rule #4: After that, take whatever you have saved and look to invest it so it will 1 earn...

On Monday, Feb. 22, the White House announced several changes to the Paycheck Protection Program (PPP) that went into effect on Wednesday, Feb. 24. These changes are intended to further target “the smallest businesses and those...

The acronym “SPAC” is showing up more often these days because there is some big money behind the revitalized investment approach. SPAC stands for Special Purpose Acquisition Company, and they are sometimes referred to as...

Federal Estate Taxes have provided government funding almost since our founding. In 1797, Congress required revenue stamps to be applied to wills and property transfers to fund wars and expeditions only to be repealed in 1802

At this time last year, it was still unknown that a deadly global pandemic was on the rise, eventually stalling economic growth and sending crude oil prices into negative territory. But recently, oil prices have surged, with crude...

What's your "go-to" source for financial information? "Family and friends" is the #1 answer given in the annual Retirement Confidence Survey. But a close second is search engines and other online tools, including online forums like...

Jeff Bezos, one of the wealthiest people in the world, announced he would take a different role at his company, Amazon. For one of the largest companies in the world, the story can jump from Wall Street to Main Street, roiling markets . . .

The Year of the Ox is almost here – time to bring out the red envelopes, light up the sky with fireworks, and bring in the new. February 12th marks the beginning of the Year of the Ox. The second animal of the Chinese zodiac, the...

You may have heard the news about certain stocks suddenly ballooning, quickly going from lunch money prices to several hundred dollars a share. In one case, the shares rose over 1700% since December. So, what gives?...

The personal savings rate in the United States, which is the amount of income left after taxes and household spending, has reached some significant milestones. In April, when much of the country stayed home to avoid the COVID-19...

This month, America honors the legacy of Dr. Martin Luther King, Jr. As we look around today, we see manifestations of that legacy in the form of stronger, more diverse communities, in the continued fight for equality, and in the...

Trinity College’s foremost Joyce expert, Kevin Coyle, is murdered on Bloomsday and Dublin's Chief of Detectives. McGarr, tries to tie it to Ulysses despite his aversion to Joyce and the insipid characters in Coyle's life. . .

Patrick Kelly’s vaunted major opus, Tax-Free Retirement, lives up to the hype. Taxes and other perils are set to destroy your retirement income. He shows how to defeat these demons and secure tax-free income in retirement. . .

Charles de Gaulle once remarked, “The graveyards are full of indispensable men.”¹ While we know that life goes on regardless of the loss of any “indispensable” person, for a small business, the loss of a...

If you have had any previous experience with a financial advisor, chances are the conversation revolved around (A)”how much money do you have,” (B)”where is it located,” and (C)”we can do a better job...

Final article covering false retirement assumptions or Myths including lifestyle and financial expectations and what you should expect and can do to avoid losses and disappointment in retirement. . .

Ronald Reagan loved to use memorable, colorful stories to make a point. The Little Red Hen is his Orwellian lesson on Basic Economics. You see, there was once a Little Red Hen who uncovered some grains of . . .

PART ONE My earlier articles on retirement provoked many requests for more “direction” regarding retirement planning. Each retiree's needs are personal and unique. Let me dispel 10 false beliefs about retirement in two articles ...

We have helped hundreds of clients retire comfortably. Retirement lifestyles vary and can take unexpected twists and turns. Is your retirement planning robust enough to accept wrenching new decisions and developments. Some choices proved

The due date for Income Tax filing is July 15th is the ‘new’ April 15th -- “Tax Day.” Taxes have been a source of frustration, anger, lobbying and fudging for millennia.... some favorite quotes about taxes from Ben Franlin, Will Rogers, et

Ben Franklin said, “..nothing is more certain than Death and Taxes.” How you meet and deal with them may write your epitaph. For those of us operating a ‘pass-through’ business –- one that files federal...

With the Covid-19 virus keeping us sequestered and working from home, we are learning new things every day – like where the dog dozes most of the day, what snacks we don’t have and maybe how to go ‘stir crazy.’...

We are currently in the early stages of the greatest wealth transfer in modern times, if not in all of recorded history. Almost $12 Trillion in private, mostly small businesses will be sold, fold or survive a change of ownership in .....

While Small Business is the ‘Backbone of our Economy,’ Family Business is its DNA. Think of the family farm when the family lived over the livestock, then the butcher lived over the butcher shop, the owner over the...

As consultants to “small business” we have found most successful owners and entrepreneurs do the same things to assure their success. A ‘Small Business Manual’ does not exist. Textbooks are filled with advice on...

There is a lot of talk today about gender discrimination. Some politicians want to simply legislate that gender is always neutral and some want to invent a third sex, with special bathrooms. This is all nonsense. Yes, there is a...

Your work environment and your outlook impact your health. Maintaining your health and wellness at work requires several steps to reduce stress and create awareness of the hazards to your well-being.

“Over and over again courts have said that there is nothing sinister in so arranging one's affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay...

When builder George P phoned to ask how we work with clients, it became clear he would rather repair a roof in a snowstorm than meet with me. However, his accountant insisted. I tried to answer When a builde in kind. I said, “We work the...

For many, the term “401k” or “403b” is synonymous with retirement preparation and sometimes is the full extent of their financial preparedness. Such accounts are usually part of an employee benefits package and...

Consumers are seeking information, even instruction, about personal finances. Some, for specific goals such as retirement or college expenses; some is simply to learn how to make ends meet or to become more confident or wealthy . . .

Your child isn't the high school valedictorian? Qualify for a scholarship? In fact, thousands of dollars are awarded each year for the most unusual things. Consider these: Right-handers need not apply. Frederick...

Here are some counter-intuitive thoughts: If you won the lottery today would you put your money into an account that earns zero interest? When you pay off your mortgage, you reduce the interest you pay on your loan, but you no longer...

Did you remember to review your Estate between Christmas and New Year’s? 2019 is in full swing. Now is a good time to review your estate documents. Are your Estate Planning documents in place and current? It is important you...

Your partner is Uncle Sam and he makes the rules. Those rules can change at the stroke of a pen. You do NOT get a tax deduction when contributions are made. You receive an income reduction and defer the tax liability. You or your...

A professor brought a large clear jar into class. He set it on the lab table in front of him. He reached under the table and began to fill the jar with smooth river rocks and told the students to stop him when the jar was full. Soon...

What if you had to buy a new car each year for four years, at least, and you couldn’t drive them? Sound absurd? That’s the cost of a College Education. Whether you pay for a fleet of Honda Civics, Priuses, or loaded...

I am happy to say that my condition will soon better. I owe it all to Dr. M. My Family Doctor, Dr. M of Bayhealth in Milford examined me when I complained that my nose was invariably stuffed beyond breathing every morning and was...

I hate losing money. I don’t like to spend money when I don’t know if I what I buy will get used. But, I DO buy fire, auto, and health insurance, etc. The truth is I couldn’t sleep without these protections. In a...

The 28th annual Retirement Confidence Survey for 2018 sponsored by multiple banks, brokers and AARP of 2,000+ retirees and workers shows some interesting results. Notably, retirees are less confident about their money holding out. They...

Boy Scout motto: ‘Be Prepared’ Owners planning to exit their businesses in the next decade, voluntarily or not, may be in for a rude awakening. A successful transfer is the result of careful preparation. “Plan for the...

I am a die-hard fan of The Profit, the TV program that showcases Marcus Lemonis’s attempts to rescue failing businesses. His mantra – People, Process, Product – rings true and is proven over and over again. But...

A boy asks a wealthy businessman how he is able to make money without being a wage-earner like most other grownups. The businessman is amused... “I will tell you...

The short answer is, “Yes.” Well, maybe. Most likely. Contrary to the rumors, the charitable deduction is unchanged. However, the applicability of the deduction – claimed by those who file using itemized deductions...

“The Real Cost of a Vacation Home” – Rebuttal A few weeks ago, a video was sent to my email list and to my ‘friends’ on Facebook, Twitter and linkedIn. As sometimes happens, I failed to review the video...

In the last two days different people expressed the same sentiment with which I found myself in whole-hearted agreement. One man mentioned that he insisted his daughters pay a part of their college expense from money they earned...

WHAT IS A CONUNDRUM??? Free people are not equal. Equal people are not free. (Think this one over and over… makes sense!) A gun is like a parachute. If you need one, and don't have one, you'll probably never need one again. The...

Investment salesmen have been touting their company inventory rather than the best available selections. The Department of Labor has ordered investment sales organizations to act as fiduciaries for their customers

The cost of College can be extremely expensive: Now $14 to $62,000/year growing 5-8% annually. Saving smarter will stretch those dollars, avoiding tax and excess risk, while offering unique flexibility. Permanent life . . .

If, when you hear R&D, you think of people in lab coats tinkering with chemicals, ultra high-tech industries and Fortune 500 companies, you are not alone. However, things have changed!In 2001 the IRS changed the definition of R&D and...

A soldier sleeping during an airport layover with his canine partner.There is no measure of loyalty greater than that shown here.Sleep soundly soldier.A worthy goal in life is to be as good a person as your dog thinks you are!God...

A simple case study. [specialized tax incentives] Cost segregation has the effect of increasing depreciation deductions which in turn reduces taxable income, and in turn minimizes taxes paid and maximizes cash flow. This article...

The Workers Opportunity Tax Credit [WOTC] applies if you hire specific types of employee. Credits run from $1,200 to $9,600 depending on the individual. The average is $2,400. A taxable business may apply the credit against its...