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Business Owners Face Potential Tax Law Changes
Jim Lorenzen, CFP®, AIF® 1954 1986 2017 What do those years have in common? If you guessed those were the years of major tax reform,
Jim Lorenzen, CFP®, AIF® 1954 1986 2017 What do those years have in common? If you guessed those were the years of major tax reform,
Jim Lorenzen, CFP®, AIF® Business owners spend long hours for many years trying to build their dream. For many, their business represents 70%, 80%,
Jim Lorenzen, CFP®, AIF® Successful business owners know they’re successful because of their people. Within that group there’s usually one or two key people that
Jim Lorenzen, CFP®, AIF® No, that’s no my picture – I wish I were that young and good looking; but he does look like a
Jim Lorenzen, CFP®, AIF® Executive Bonus plans are a little different from Non-Qualified Deferred Compensation Plans (NQDC), which we talked about in another short paper.
If you have $500,000 in your 401(k) or IRA, it’s not really $500.000. That’s a tax planning mistake most people make going right out of the gate. If you’re married and filing jointly, it’s more likely you could have $325,000 (35% tax bracket) or just $315,000 (37% tax bracket).
The three largest expenses in the federal budget are Social Security/Medicare, interest on the debt, and defense.