FFP’s 2012 Planned Growth
2011 has bestowed upon us many events both in the world of finance and also in the world of FFP Wealth Management.
Earthquakes, tsunamis and debt crises impacted the financial world. Within FFP we’ve had retirements, marriages and expecting mothers. And although there is always change in and around our lives on a daily basis there are some things we can count on to provide some degree of permanence. That sense of permanency comes from...
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End of the Year Planning
What should you be doing now.
Energy Tax Credits Expiring in 2011 - Credits need to be claimed in the year in which they are purchased. The following forms must be filed by April 15th, 2012. IRS Form 5695: If you have made qualified energy efficient or renewable improvements to your house (nonbusiness)...
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European Debt: A Potential Solution Being Considered
The current debate in Europe is how to use the European Financial Stability Facility (read “European Bailout Fund”).
The fund currently holds 440 billion euros (600 billion USD). Because 440 billion euro is seen as inadequate for Europe’s degree of debt, and because it is difficult for many countries to increase their contributions to the fund, officials have been debating ways to leverage the fund’s power...
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Charitable Giving with the Tax SuperSheet™
Are you a giving person?
Charitable contributions can significantly lower your tax bill, and there are many different strategies available to take advantage of this tax benefit...
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www.ffpwealthmanagement.com Updated + Facebook + Twitter
To increase connectivity with clients,
we have recently made major updates to our website.
The first thing we hope you notice is that it looks better. But along with aesthetics, the main purpose of the update was to make the site more engaging to clients. You will notice the “Articles” and “Blog” tabs on the homepage. These sections will be updated regularly with economic news stories, tax code changes, info on FFP developments, and general commentary...
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Protecting Assets from Creditors
Life Estates and Medicaid
In 2006, Minnesota rewrote probate law that has been the law of the land since the middle ages. This change provided a way for the State to attach non-probate assets. No other creditor can attach assets outside of probate. The State also came up with a way to determine the life expectancy of a deceased person. Finally, the State changed the look back period and the application of the rules of...
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When Common Sense Fails
How will you react if 100% of your retirement plan distributions go to tax?
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It was in 1974 that the IRA was born and we were assured by the government that by putting our money into a retirement plan today, we could reduce our current taxes and pay a lower rate in retirement. Life was simpler then... |
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Can anyone help you to reduce your taxes?
Doesn’t it seem that the tax code is punishing you for being responsible?
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Suppose you have lived your life in such a fashion such that you were able to eliminate debt and accumulate money in the bank, in mutual funds, in stocks and retirement plans... |
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Financial Planning for the Middle Class Investor
Retirees, beware of double taxation on retirement plan distributions!
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“Use due care with income tax estimates when social security is included!” There are two distinct considerations for taxpayers who receive social security benefits. The first is the potential of repaying social security benefits when wages are earned... |
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Financial Planning for the Middle Class Investor
Should you keep your mortgage in retirement; does it make sense or is it a boondoggle?
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Decrease taxes? Mortgage payments could increase taxes in retirement! The tax benefits of a mortgage have been pounded into our heads. Yet most people have no idea what if any benefit they receive from their mortgage interest... |
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