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DISASTER IN JAPAN: Why You Need An On Line Safety Deposit Box

With the recent disaster in Japan and our experience in the United States with Hurricane Katrina just a few short years ago, it made me think about what kind of smart money moves you should make around protecting your documents.  If a Tsunami or some natural disaster wiped out your house today, what would you do if you lost all of your important financial papers? Or what might you do if you were in another state or country at the time of this disaster? Maybe it is time to consider having an electronic safety deposit box. An electronic safety deposit box works like a physical one in many ways.  The main purpose is to organize documents that are important in your life into a safe place in case anything happens.  You can store wills, tax returns, deeds, insurance policies, passports, copies of credit cards, pictures of your valuable belongings, and much more. This type of safety deposit box is web ...

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Top 10 Questions To Ask Your Financial Advisor

Can you describe for me how you are compensated? Does your firm have any quota’s you must meet? Are there any financial products you are unable to sell because of your licensing or your firm will not allow them to be sold?  Which?  Why? Are there any products that are manufactured by your company? Describe for me your asset management strategy? How much experience do you have? Are you making the investment decisions or are you following someone else’s philosophy? How many firms have you worked with in the past? Why did you choose this firm? What are your financial goals? Related Articles – Top 10 Ways To Tighten Up Expenses For Business Owners, Top 5 Insurance Policies To Avoid , TOP 10 Atlanta LATE NIGHT Restaurants, The Top 10 Most Overlooked Tax Deductions , Top 5 Ways to Help Someone Who Is Unemployed , Top 10 Questions to ask your Accountant Kile Lewis, CRPC® Co-CEO and Founder oXYGen Financial, Inc. Request a FREE ...

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Top 10 Questions to ask your Accountant

How long have you been in practice?  Are you a CPA? Will you or someone else in your firm be working on my situation? Do you have a specialty? Are you licensed to offer any financial products? Do you have any formal or informal relationships with other professionals or institutions that I should be aware of? Do you offer advice on tax strategy? How many of your clients have been audited by the IRS?  Results? How many clients do you serve?  Your firm? Do you work with any small business owners? Can you provide me some referrals of satisfied clients? Kile Lewis, CRPC® Co-CEO and Founder oXYGen Financial, Inc. Request a FREE consultation: www.oxygenfinancial.net Related Articles – Top 10 Ways To Tighten Up Expenses For Business Owners, Top 5 Insurance Policies To Avoid , TOP 10 Atlanta LATE NIGHT Restaurants, The Top 10 Most Overlooked Tax Deductions , Top 5 Ways to Help Someone Who Is Unemployed oXYGen Financial, Inc. ...

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Smart Financial Moves After A Divorce

Divorce is one of those life events that may be one of the most difficult transitions any person has to make.  Some of the divorces end up amicably, while others end up with such irreconcilable differences that the two parties never speak again.   While lawyers usually end up in the middle of the finances when a couple gets divorced, here are five things I would recommend you consider reviewing after a divorce. 1. Check Your Credit Report–  When people are married, it isn’t always discussed on who is the owner of a particular credit card or loan obligation.  Reviewing all of your credit cards and loan obligations to make sure you are not joint on any of those items after the divorce, and ensuring your credit report is in good standing is an important step to take. 2. Review Your Beneficiary Designations–  Remember that items such as your 401(k), IRA’s, and insurance policies have a named beneficiary.  Despite what your ...

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You Don’t Need 3D TV

I have been seeing all of these commercials as of late on how you can have 3D TV in your home.   Let me be the first to tell you that you simply don’t need this technology for the price tag it will carry. I think I saw my first 3D movie in 1981 called Coming At Ya’ which was a Western style type movie with objects seemingly rolling out of the screen and into the movie seats.  Remember, the Friday the 13th installment that was in 3D?  There was nothing cooler than having those red and green 3D glasses, and only every once in a while did a new 3D movie come out in the theaters.  Now, for an arm and a leg you too can take your family to see one of the many cartoon fantasies on the big screen.  No red and green classes, but certainly some cooler special effects. Now, I want you think about this.  Why ...

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Be wary of “hypotheticals” in insurance policies!

Many people consider buying into permanent insurance policies. Almost always, I see an illustration when people bring it to me with a hypothetical illustration. On some policies these projected illustrations carry a hypothetical rate of return of 10% to project where cash value accounts will be over the next 20 to 25 years. ...

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America’s Healthy Future Act

Major Provisions of Finance Committee’s America’s Healthy Future Act (source: Taylor, English, Duma LLP) Excise Tax on High-Cost Insurance Policies. An excise tax of 40 percent would be imposed on insurance premiums in excess of $8,000 for individuals and $21,000 for families. For individuals with high-risk jobs or those over age 55 and not enrolled in Medicare, the threshold would be $9,850 for individuals and $26,000 for families. The threshold would be indexed to the consumer price index for urban consumers (CPI-U) plus 1 percentage point. Tax Credit to Buy Insurance. Beginning in 2013, tax credits would be available to help offset the cost of private health insurance premiums. The credits would be paid directly to insurers. The credits would be based on the percentage of income the cost of premiums represents, rising from 2 percent of income for those at 100 percent of the poverty line to 12 percent of income for those at 300 percent of poverty. Individuals ...

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