Year: 2017

GOP Tax Plan for High Net worth Individuals

After the President trump previously announced the tax plan now the GOP has come up with much-awaited tax plan outlines. This plan is a considerable change in the lives of the high net worth individuals. The tax plan is the most significant part of all of us lives, so we have to know the salient features to understand what is going on in the economic as well as political forefront.

In this piece, we are going to have a glance at the highlights of the tax plan.

Switching to the three tax brackets:

From the twelve bracket plan of trump, the GOP is most likely to switch to the three bracket plan. The brackets will comprise of 12, 25 and 35 percent. Furthermore keeping in view the requirement to have a bracket for the highest earners the top 39.6 percent bracket will also remain intact.

 Alternative minimum tax:

One of the most annoying tax in the history of United States is the alternative minimum tax. This tax is nothing but an additional cost of bookkeeping so when the GOP decided to get rid of this. The trump suggestion is also similar.

A dramatic decrease in the corporate tax:

So here comes the most significant revelation the GOP suggested the corporate tax to be lowered to 20 percent rather than the present 35 percent.

Capping of pass tax:

One of the main advantage associated with this capping is that now the clients have the freedom to not only break their income in the pass-through portion but also to take advantage of the low tax rate i-e just 25 percent.


The next significant highlight of the GOP tax plan is the increment in the standard deduction and elimination of the various special interest deductions. Now this considerable step will further simplify the things for the Americans so that they find ease and convenience in filing the taxes. The GOP suggests increasing the fee from $6,350 to $12,000 for singles and for couples the tax would be $12,700 to $24,000.

Stability of charitable deduction:

The house pays the much need attention the concerns of the investors regarding the elimination of charitable deduction. However, the tax plan states explicitly that retention of the charitable deduction.

Repeal of death tax:

The tax plan also provides a relief from the death tax. But here the question is how it manages to do that? Well, only by merely increasing the exemptions and repealing the tax after several years.

The current exemption is already sky high, so when the GOP plans to increase the limit, then it will only hit the largest yet most poorly planned estates. We have been calling death tax, a death tax but it is nothing but an estate tax.

The tax plan may seem as bit drifted away from the president plan still akin to the president’s one. So even though it’s a bare fact that it is going to change the things nevertheless, it does give us the idea that what the Republicans are planning to put forward.





7 Points to prepare for before retirement.

Moving from working life to retirement takes careful financial planning and decision-making – give yourself plenty of time to organize. Here are some things you can do ahead of time.

1 . Convert your savings to income

Analysis your income options and set up a plan which means you have an income from the very first day you leave the workplace. Options include RRIFs, usually are and unsheltered savings. Master more about these options.

2. Apply for government benefits

May wait until the previous minute to obtain govt benefits – it might indicate a delay when you get your payments. For example, you need to obtain CPP 9 months before you retire in order to obtain your payments in time. Learn more about sport knee support benefits.

3. Pay off your finances

Pay off your debts as soon as you can – ideally before you cease working. To help you pay debts off faster, be sure to are paying of the most affordable interest rate you can get.

4. Compute your monthly income

Work with this calculator to idea how much monthly income you’ll receive from your savings, government benefits and any pensions.

5. Produce a budget

Figure out how much you’ll need to spend to pay the bills in old age – then see if it matches your regular monthly income. If it won’t, you’ll need to find ways just to save more, slice spending or boost your income in retirement.

6. Review your insurance needs

As you get old, your insurance needs will likely change. For case, if you have fewer debts and dependants, you may well not need as much term life insurance. Nevertheless you might have more health issues, so you may want to consider critical illness insurance or long term care insurance. Learn more about insurance planning for retirement.


Will be you covered if you happen to or your spouse develop long term

health issues or have other emergency health problems? Unpredicted health-care costs can be hard to cover when you’re over a fixed income

.7. Take a look at will and forces of attorney

If most likely about to retire, your will might need to be changed or up to date. Having a valid, up dated will is essential to ensuring your real estate is allocated as you plan it, and that your loss of life does not create a legal and administrative burden to your household.

If you die without a valid will, a court will appoint someone to provide your estate and deliver the assets according to a formula set out in provincial estate and family laws. Learn more about wills.

You should also ensure you have a power of attorney,

The best document that brands anyone to make financial and other decisions for you when you cannot make them yourself. Select someone you trust who knows you and will execute your wishes. Find out more about powers of attorney.


For anyone who is concerned about the financial well-being of your parents or a senior near to you, or if you suspect they could be suffering financial abuse, this checklist will help you start a conversation.


Getting near retirement? Don’t wait until the last second to get your finances in order. Give yourself plenty of time to prepare.


According to Reports Canada, 1 in 3 retirees hold some form of debt.

Why not Women CEO’s in top finserv firms

women ceo finance

Girls have made great advances in the financial services industry, occupying 47 percent of management and professional roles at financial organizations, yet they seem to be to have reached that common glass ceiling when it comes to the top executive committee, board and CEO roles. A newly released article in the Harvard Organization Review seeks to describe why women occupy only 20 percent of full-time committee slots, 22 percent of board positions and a meager 12 percent of CEOs of large financial firms. In a nutshell, the deck is still stacked too seriously against them. Responses to an Oliver Wyman study of eight hundred fifty financial services professionals and 100 senior female management found that the culture of finserv organizations is promoting little in the past 35 years. Namely, effective elderly bankers are noticed as “aggressive, dominating, transactional–characteristics that are stereotypically masculine. very well As a result, women are held to a higher standard than men and proving themselves is harder. Not to refer to role models in elderly executive positions for new women are few and far between. According to the article: “As one senior female banker we interviewed said: ‘If a woman appears up and see any women towards the top, she amazing things if she’ll make it–if all of the forfeit she will have to make will pay off. ‘”

Women Aren’t Cheerful About Their Career Advancement

Almost a third of yankee workers–and particularly women–are unhappy with the improvement with their careers, matching to a fresh workplace study from Addison Group. Thirty-two percent of ladies express discontentment with how fast they are being promoted, when compared to 25 percent of men who feel the same way. Apart from showing American workers’ career discontentment, the survey also descriptive and reinforced that a gender divide exists in retirement confidence, as will a generational divide. Forty-three percent of girls are confident in their ability to leave the workplace, while 55 percent of men feel the same way. Meanwhile, over 70 percent of millennials have a positive retirement prospect, which is higher than generations closer to or at retirement: 50 percent of Generation Xers and 55 percent of baby boomers feel confident of the ability to retire.

Addepar Crosses Asset Milestone

While Addepar surpassed $500 million in assets on it is platform, the financial technology firm announced a number of recent updates and features to its products. To start, Addepar announced that it will start up its application program interface (API) allowing third parties to develop applications on the Addepar system. The corporation also said that in order to boost security, it’s allowing users to consolidate their login experience, extend specialized corporate network settings to Addepar and utilize two-factor authentication. The company says more than 200 businesses are using the platform, and it is opening a new office in Salt Lake Metropolis in order to cater to the growth.

Wealth management helps you give more charity

The last two months of the year are of great importance because of so many festivals and events. However, one the most heartwarming and socially import mat event is Thanksgiving. The thanksgiving is an occasion where not only does the whole family gather together and rekindle the love and affection, but it is also the occasion where everybody becomes a philanthropist and detonate as much charity as possible. Although it is a very Nobel deed and it does give you a tax efficient saving utilization. However, you still have to make a strategy as to where and to whom you want to donate your charity. In this regard, I am providing you some excellent wealth management tips so that you get the most in this season of giving.

A proper wealth management is a key to philanthropy, and thus it should be the most crucial part of your overall charity plan. Mention below is some of the tips which may prove helpful while taking your charity-giving decision.

Analyze your long-term investments:

No doubt, everyone should do charity, according to his or her capacity, however, when it comes to doing charity at the risk of your future, I suggest you better stress test your long-term investments. So it would be wise first to save your own nest and then make amendments to others. You can defer your plans to give away charitable lifetimes gifts and make your benevolent giving with estate plans and wills.

Test the charity for effectiveness:

Although I do realize that making a financial contribution in someone’s future is a soul-satisfying task, however, you have to do your homework before making any move. You have to determine the effectiveness of the charity by analyzing how much of your charity is going to utilize in the welfare programs and how much is consumed on the administrative and other expense of the organization.

Tax deductibility:

Philanthropy comes with a benefit for both the giver and the receiver. If you are giving your money out to help someone this Thanksgiving season, then there is something in it for you too. The tax deduction is something which is associated with the charity giving. However, the charity you chose would impact the tax deductions directly. There are many organizations, charities to whom is not tax deductible. So while making a donation-giving, you have to be sure about the tax deduction status.

It is not the only case as there are certain charitable organizations which offer return gifts in exchange for donations and these gifts may decrease the amount of tax deduction. So you have to be conscious while accepting the gifts.

RMD’s – a charity tool

You can also use the RMDs to make a charitable contribution. An IRA allows you to create a 100k gift from you RMDs. This kind of charity is known as qualified Charitable Contribution. This grant is beneficial in a sense as it allows you to the deductions of tax on the amount of RMDs contributed.
In the end, I just want to add that a proper wealth management can help you come up with some charity giving strategies that can benefits you as well in return.

How to retire early?

Every individual starts its career with a dream to establish his or her job and then retire with enough money to spend afterward. Usually, the standard retiring age is sixty-five or fifty years, however, that’s is not at all a compulsion. If you want, then you can retire as early as possible. Sounds interesting yet impossible? Well, it is entirely possible and comfortable with the help of some tips and tricks. I have dedicated this whole blog just to share some of the golden rules to follow which not only allow you to retire early but also help to build a large bank balance. So keep on reading this piece to gain the knowledge about how to retire soon?

Set your goals:

Before starting anything significant, you have to do your complete homework. You have to be clear about your ideas and objectives before making strategies. A clear envision the goal helps you in your planning and strategizing phase.

Sow whether you want to go on a world tour or you want a home at some posh area, you have to think all of your post-career plans and then set the objective or goal to proceed.


After setting the goals and objective the next comes the budgeting phase. If you want to earn after retirement, you can invest in top-rated commercial ice maker. To earn a profit or to save a certain sum for your retirement, you have to make a budget, where you gather all the sources of income and the unavoidable expenses. After collecting all your finance and costs, you will have a comprehensive knowledge of how much you have to save and how much you have to earn to achieve your desire retirement sum.

Saving is your lifeline:

Conservation is the most authentic way to achieve your retirement money goal real quick. Let get real at this point, here we are talking about getting retire sooner than anticipated, so we have to adopt the unconventional methods for earning as well. Increasing your income is one of them, but not everyone is in a position to have a high salary job or to supplement their revenue through some side hustle. For those saving is the only reliable option. Save as much as you can.

Get yourself a high paying job:
It doesn’t matter how much we brag about saving and its benefits, but at the end, if you want to retire before time, then you must have an excellent paying job at hand. It is your job which is bringing capital for saving after all.

Avoid unnecessary fees and taxes:

When you plan on saving or cutting the expenses, then you must have to keep a sharp eye on every kind of costs. Do you know fees and taxes are the real return-eaters? Try to avoid the unnecessary fees and expenses.

Switch to reasonable lifestyle:

We all want to live a lavish life full of facilities. However, if you aim to get yourself retire before getting old and want to enjoy life boundlessly then, you have to make certain compromises, and one of them is to switch your lifestyle. Living in a simple home with only necessities and without any luxuries would do the task simply to achieve.
After cutting all the avoidable expenses and enhancing your means of income, you can choose whatever you want to do with the money. However, prior planning and arrangement always prove to be prudent. However, an essential spice is the commitment, with dedication and commitment your recipe for early retirement is ready to cook.

Is Being Too Economical Actually Costing You More

Too Economical Costing You More

While being frugal can mean saving for your future, there are some special cases where it can turn against you instead. You have to understand that expenses do not always mean the cost price of a product. The true value lies in getting the most bang for every dollar you spend. The most likely scenarios where you should look at the bigger picture instead of just trying to be typically economical are mentioned below. This can actually make you pre-aware and help you make a more evolved decision when faced with any of these categories in your life.

Premiums for preventive care

Never skip any maintenance or periodical checkups you have scheduled. Dental cleanings, annual full body checkups or any particular diagnostic checks for maintenance of lifestyle diseases, need proper checking at periodic intervals. Ina absence of that, the situation can fast ball in to a much bigger problem fast, which will ultimately cost you much higher in terms of medical costs. Even if you do have insurance, you would not be covered for all of it.

Do not skimp on insurance premiums

If you buy a low coverage insurance, it might actually cost you much more than you anticipated. A bare minimum coverage might be as much effective as having no insurance at all. You should analyze if you would be able to cope with replacing or living without the asset you underlay for the insurance coverage, such as the car , mortgage, property belongings and/or income ( in case of disability or life insurance). If you do not have a second option to deal with such a loss, do not skimp on the associated insurance premium and leaving yourself short of the risk cover.

Know when to skimp

Do not get pulled in by the announcements of sale or low price offers. The only time you should consider skimping on prices or considering value offers is if you know the product you are buying will only be used once. In clothes that can be statement, dresses for Prom or a bridesmaid dress in a particular style or color. Do not skimp on the makeup though, since it will have a direct effect on your skin and you can use the products multiple times again for different events.

Added savings options

Instead of buying the cheaper option, look for added savings options on the quality product that you have in the market. High quality products will breakdown less and give you a much better performance for your money. Compare prices online and also browse through coupon sites to get the best priced deal for your higher quality product, than skimping on the price for a lower quality option that keeps breaking down on you.


Persuasively Projecting Revenue and Profit

Predicting the future is never easy. But by following these dos and don’ts for financial services projections, you can avoid some common mistakes

It doesn’t matter whether you’re applying for your first bank loan or your fifth, or whether you’re seeking venture capital or debt financing. Sooner or later, you’ll have to prepare a set of financial projections. Lenders will look for a strong likelihood of repayment; investors will calculate what they think is the value of your company.

In my past 10 years both as a banker and as a financial consultant, I’ve seen many entrepreneurs — despite the best intentions — make mistakes on their projections. The good news is that the most common mistakes are easily preventable if you know what to look for. Here are my top dos and don’ts:

Don’t provide only an income statement; include a balance sheet and a cash-flow statement, too. It’s understandable that you’re focused on sales and net income, but your banker or investors will also want to know how much money you intend to leave in the business as retained earnings and how much additional debt or equity financing you’ll need — if any — to grow your company.

Do provide monthly data for the upcoming year and annual data for succeeding years. Many entrepreneurs prepare projections using only monthly data or only annual data for the entire three- or five-year period. Don’t. Use monthly data for the first year. After that, use annual data. The financial results of your first year will probably end up being different from your projections, so there’s no point in thinking that you can accurately forecast monthly results for the years after that. This is an instance where less is more.
Don’t provide more than three years’ worth of projections unless your lender or investor has asked for them. This is an extension of the less-is-more concept. Let’s face it: it’s a stretch to accurately forecast your company’s sales or net income for even three years out. Only in cases in which you’re looking for long-term financing for equipment or real estate is it likely that your banker will want longer-term projections.

Don’t provide more than two scenarios in your projections. Loan officers and investors are already drowning in paperwork, so do what you can to make their lives simpler. We’ve all seen projections with the following three scenarios: base (or likely) case, worst case, and best case. I’ve also seen super case and break-even case. My advice is to prepare just the base case and the break-even case. The base case should show what you realistically expect the business to do; the break-even case should show how low sales could go before the business begins to lose money.

Do ensure that the numbers reconcile. Everybody knows that assets must equal liabilities plus equity. But all too often entrepreneurs will simply plug a figure into the equity slot to make things settle up. That’s wrong. If your bank is doing its homework, your banker will check the math. If the equity numbers don’t add up from one period to the next, you’ll be asked to explain. Even though everyone makes mistakes, that’s one you want to avoid because it makes you look sloppy. Also, if after the mistake is corrected your company has a smaller net worth than you originally presented, your banker or investor may think you were being intentionally misleading. Not good.

For reporting – consider ‘Sample Google Data Studio Templates‘.

Don’t be too optimistic about sales growth or gross and operating profit margins. All bankers and investors want to do business with ambitious entrepreneurs, but there’s a big difference between a realistic business plan and fantasy. While it’s true that companies that have low revenues can grow their sales quickly in percentage terms, it may not be realistic to assume, for example, that your business can double in size every year. That rate of growth would turn a $500,000 company into a nearly $16-million business in only five years. And although that can happen, it is definitely not the norm. Also, entrepreneurs often try to convince lenders that as their company grows it will achieve economies of scale, and gross and operating profit margins will improve. In fact, as the business grows and increases its fixed costs, its operating profit margins are likely to suffer in the short run. If you insist that the economies can be achieved quickly, you will need to explain your position.

Classic Secrets to Getting Startup Funding

Getting Startup Funding

BELLEVUE, WASH. — Roxanne Benton Darling toyed with starting a business for two years. “I’ve started and stopped a couple of times, but for whatever reason, it wasn’t happening.” Now it’s happening, and her fledgling business, Health Options Coach, is a health and stress management consulting business that will use the Internet to connect with clients. “I’m ready to ride the wave,” says Darling, a resident of Santa Fe, N.M. And that is why she has enrolled in Bootcamp for Start-Ups,’s two-day event where entrepreneurs learn the ins and outs of raising capital for high-tech companies. is a company that connects high-tech start-ups with investors.
This week’s start-up event has drawn a crowd of more than 1,000 attendees, packing to capacity the Meydenbauer Center, located here. Like Darling, many entrepreneurs have come to immerse themselves in the world of high-tech start-ups and to find seed capital. “I’m here to be exposed to intellectual capital as well as the financial capital,” Darling says. And when it comes to attracting capital, boot camp panelists have plenty of advice. Here are four of their key fund-raising insights.

Keep your business plan short.

The market is hot, and business plans for the next big Internet thing abound. Zack Herlick, a partner at the Seattle-based venture capital firm Maveron LLC, says his firm considers 3,500 business plans a year, of which it funds only 10 to 15. Peter Hartigan, a development officer at Softbank Venture Capital, says he looks at 50 business plans a week — but his company funds only about 50 a year.

How can you increase your plan’s odds of standing out in a crowd? Be brief. Hartigan of Softbank recommends that your business plan be 10 pages, with a two-page executive summary. “We’ve got a lot to look at,” says Dennis Weston wearing his best heated gloves in hands, senior managing director of Fluke Capital Management LP, a venture capital firm focused on investments in the Pacific Northwest. He advises entrepreneurs to create a plan that is concise, direct, and compelling.

Although business plans have gotten shorter, the essential elements remain the same. Greg Bailes, technology partner at PricewaterhouseCoopers, stresses the importance of a well-thought-out plan. The executive summary should be no longer than three or four pages, and the plan should have information such as the market you’re pursuing, the problem you’re trying to solve, your proposed solution, a strategy for attacking the market, financials, and an exit strategy.

Get a referral.

“It’s really a networked world,” says Guy Kawasaki, CEO of and the conference’s moderator. To get a venture capitalist’s attention, you need to know the right people, who can make the right introductions. “Finding a referral source that is credible is probably the most important thing to do,” says Weston from Fluke Capital. Make use of your board of advisers, board of directors, professional services team, or anyone you know who has connections to the venture capital world. That’s because many firms look to people they know and trust to find them investment leads.

It is possible to get a plan considered without an introduction — but it’s not easy. Two boot camp panelists say they consider all plans that come across their desks, while others say they occasionally consider plans without referrals. Still, it’s clear that introductions help entrepreneurs get noticed. When asked how many deals he’s made without a referral, Hartigan of Softbank estimates only one out of 50. Warren Packard, a partner at Silicon Valley venture capital firm Draper Fisher Jurvetson, says one or two companies out of a portfolio of 80 weren’t introduced by a referral.

Have the right CEO.

Doug Brown, partner of Paladin Partners, a firm that offers strategic consulting to early-stage companies, encourages entrepreneurs to consider the CEO question early on. “Understand the role of the CEO, and make a decision as to whether or not you’re that person,” he says. Your CEO will be instrumental in getting capital. The right CEO will be influential in attracting investors as well as creating the vision, mission, and company values, he says.

Develop a great “elevator pitch.”

If the person standing next you in the elevator wanted to know about your business, what would you say? Bill Joos, vice president of business development at, offers advice on creating an “elevator pitch” — a 30-second spiel designed to pique an investor’s interest in your business. By limiting yourself to 30 seconds, you are forced to focus on what really matters, what Joos calls “the distilled essence of your dreams.”

Passion is important to the success of an elevator pitch. According to Joos, a good pitch must change the investor’s pulse rate. “If you can’t talk about your business in a passionate way, you can’t be an entrepreneur,” he declares.

Online Resources to Create a Business Plan

Too Economical Costing You More

Wrapped up in writing a business plan? Whether you’re stalled on the first page or polishing the final draft, the Web’s business plan resources can help. Writing a Business Plan section of our site, we’ve assembled a collection of selected articles, book excerpts and tools to help you with your plan. But we’d also like to alert you to the following useful sites and sources elsewhere online.

Writing an Effective Business Plan will give you a comprehensive cover-to-cover tour of a standard business plan’s components. Created by the accounting and consulting firm Deloitte & Touche LLP, Writing an Effective Business Plan contains plenty of solid information, particularly for growth companies whose plans are aimed at attracting outside investors. You can read the executive summary section online and request the book.

If you’re planning a small enterprise — and are writing a plan for yourself or a banker rather than for a professional venture capitalist — here are two more resources that are particularly appropriate.

The Business Plan Road Map to Success from the U.S. Small Business Administration will help you create the essential parts of your plan. Most beneficial for traditional small businesses, The Business Plan Road Map to Success lists commonly recognized sections of a plan, outlines what each should contain, and suggests questions that will further focus your thinking. An appendix includes resources within the SBA and other governmental agencies.
The Business Plan Template from NEBS, a provider of business and computer forms, offers “cyber hand-holding” especially helpful for first-time plan writers. This template not only outlines the elements of a business plan but also allows you to write your own draft as you proceed. Tips are within clicking range all along the way if you need them. Your work can then be saved and formatted into a starter business plan draft.
In addition, a number of companies produce business plan software or provide business plan consulting. Some of those companies’ sites include excellent resources for plan writers of all types — if you don’t mind getting a sales pitch, too. Here are some sites to start with:

Palo Alto Software, makers of Business Plan Pro, boasts several sites. The site allows easy access to an assortment of sample business and marketing plans created with Palo Alto software. The company says that all of the listed plans were approved for funding. For more individualized assistance, the site also has an “Ask the Experts” feature that allows you to submit business plan questions that will be answered via e-mail. If you just have a good idea and want to know how feasible it is for a business, you could try the MiniPlan site. It leads you through an interactive exercise to help you evaluate your idea. (Note: Palo Alto Software is also an Solutions Provider.)
If model plans inspire you, visit the site of Business Resource Software, creators of Plan Write for Business software. Here you’ll find business plans from the Moot Corp. International Entrepreneurial Challenge, a well-known business plan competition for M.B.A. students.

Plenty of sites are full of instructions for writing a business plan, but few describe the very real pitfalls. At the Virtual Business Plan, developed by Internet-based business plan consulting firm, you will find an interactive resource that not only tackles each portion of a business plan but also outlines common mistakes.
If you’re interested in researching business plan software, other manufacturers’ sites include:

Adarus Software
Makers of Adarus Business Plan software
JIAN Software
Makers of BizPlanBuilder software
Adams Media
Makers of Adams Streetwise Complete Business Plan software

Finally, for a gentle reminder that a business plan isn’t the be-all and end-all of your start-up, check out the Service Corps of Retired Executives’ 35 Biz Planning Tips — Best Practices for Practical Success. In this brief article from SCORE, a nonprofit association that provides counseling to small-business owners, you’ll get a big-picture look at planning and starting a business.