Success

Had an interesting conversation with my eldest son. At times it seems like I have to have the same conversations with my kids over and over again… #1 was stating that succeeding in the US today was near impossible, unlike in the past. I told him he was full of it and...

Rent

Back on September 1, 2020 the Centers for Disease Control and Prevention (CDC) issued an Agency Order titled Temporary Halt in Residential Evictions to Prevent the Further Spread of COVID-19 (Order). The Order prohibits residential landlords nationwide from evicting...

Emotional Support Animals

Finally the feds are cracking down on emotional support animals on airplanes. Here is an example of a “good idea” turned bad. In a new ruling, the Department of Transportation defines a service animal as a dog that is individually trained to do work or perform tasks...

Brick and Mortar

Brick and mortar or, physical retail is not dead just yet. Some are finding ways to adapt to the new landscape. Most small retailer are going online, having the physical presence, as well as online. There are tools and services to assist in this endeavor and the cost...

Buying from home

Quietly sitting at home and buying items on your computer was already more than a trend, it was a way of life for some. But in the new world order it is now turbocharged. But note the trends within this trend. Shoppers are not just buying more stuff online. What they...

996

In the early 19th century, Robert Owen raised the demand for a ten-hour day in 1810 and instituted it in his socialist enterprise at New Lanark. By 1817 he had formulated the goal of the eight-hour day and coined the slogan: “Eight hours’ labour, Eight...

Zoom to impress

I guess I have not been taking my Zoom call as seriously as I should.  Granted I have not had that many meetings with clients, but I do have a monthly BOD call with a NFP client.  But I have not been as worried about my background as others apparently have. I stumbled...

The Top 1%

There is always a lot of wind from politicians to get the top 1% of taxpayers to pay their fair share of taxes.  Well according to the IRS they are and have been doing just that. The tax burden on high incomers earners has increased, according to IRS statistics. The...

IRA’s

The 2021 pay-in cap for traditional IRAs and Roth IRAs stays steady at $6,000. But the income ceilings on Roth IRA pay-ins go up. Contributions phase out at AGIs of $198,000 to $208,000 for couples and $125,000 to $140,000 for singles. Also, deduction phaseouts for...

The Next Crisis

When the next crisis hits America will still have a big challenges ahead of us. But apparently there are at least there are some promising developments. It only took a few weeks or at the time a blink of the eyes, before our already depleted strategic national...

Candlemas

Candlemas was an ancient Christian tradition, when clergy would bless and distribute candles needed for winter. The candles were a representation of how long and cold the winter would be. The Germans later expanded the concept, by choosing to have the hedgehog...

Retirement Plans

Many key dollar limits on retirement plans will remain the same in 2021 over 2020. The maximum 401(k) contribution stays at $19,500. People born before 1972 can contribute an extra $6,500. These limits apply to 403(b) and 457 plans as well. The cap on SIMPLEs is...

When is it too far?

In the last election of (2020) Oregon had Measure 110 on the ballot that decriminalizes personal possession of illegal drugs, such as cocaine, heroin, oxycodone and meth. Under the measure, people who possess larger quantities of illicit drugs could still possibly...

Gambling losses

In a recent court case, it was determined that a compulsive gambler can offset winnings with unsubstantiated losses. In 2014, he spent countless hours playing slot machines in four casinos. The casinos issued 160 Forms W-2G, reporting cumulative gross winnings of...

Bleak Profits

I was reading an article that was evaluating the validity of blog post by Ben Carlson, portfolio manager at Ritholtz Wealth Management LLC, where he stated, “investing when things look bleak remains a profitable strategy.” At first blush this seems counterintuitive. ...

Emergency fund

The emergency fund is one of the basics of long-term financial planning, but as an accountant when I touch base with my clients and ask them about the status of their financial wellbeing, I find that the verdict is split, some don’t really have one.  Granted this is...

Guerilla Marketing

I was listening to a webinar, and they were talking to Bombas, who manufacture socks.  Their pitch is, you buy a pair of socks and they give a pair to charity, so in essence you are doubling up on your costs. Since socks are a commodity, the creators were discussing...

People remember people not products

I was having a difficult time with my bank.  They were giving me the run around on a couple of issues and taking their time in getting back to me if they eventually did so. Then a Branch Manager from a bank I have no relationship came in from nowhere.  He was talking...

When is it too far?

In the last election of (2020) Oregon had Measure 110 on the ballot that decriminalizes personal possession of illegal drugs, such as cocaine, heroin, oxycodone and meth. Under the measure, people who possess larger quantities of illicit drugs could still possibly...

Won

It is January 4th of 2021.  The big question is are you still in business? If so you are a winner in the random lottery of Covid-19…. Surviving 2020 was a challenge for just about everyone. Not all businesses made it to today.  I have clients who had to close due to...

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