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5 year-end tax strategies for your small business

It’s that time of year to start thinking about your 2011 taxes and what moves you might be able to make to save in taxes! Here are 5 ways to cut your 2011 business taxes: 1. Equipment Deductions – The legislation enacted at the end of 2010 already provides a very generous write-off for business owners in 2011. Buy your new equipment and place it in service before 2012. You can combine an enhanced Section 179 deduction with “bonus depreciation”. For 2011, the maximum deduction for qualified equipment is a staggering $500,000 and does not phase out until $2,000,000. The bonus depreciation for the equipment, which was previously 50%, increases to 100% for qualified assets acquired and placed in service before the end of 2012. Since it is expected that these two breaks will be downsized in 2012, take advantage of this tax break before 2011 is over! 2. Bad Debts – Most business owners have the most trouble collecting ...

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Happy Halloween! How about a Buy one get one FREE from the folks at Caribou Coffee today!

Caribou Coffee Posted this BOGO Coupon on their Facebook page! All you have to do is Print it out and bring it with you to your local Caribou Coffee location on Halloween to get this Offer! Buy One Get One Free Coupon – Caribou Coffee  BOGO Halloween Caribou Coffee Coupon Happy Halloween! How about a buy one get one free from the folks at Caribou Coffee today! Here is the LINK to the Caribou Coffee Facebook Fan page to see this offer! Visit www.oXYGenFinancial.net to request a consultation with the leading personal financial advice experts for Generation X and Y in the country. Written by: Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS® Co-CEO and Founder oXYGen Financial, Inc Securities and Investment Advisory Services offered through NFP Advisor Services, LLC (NFPAS), Member FINRA/SIPC. Oxygen Financial is not affiliated with NFPAS. NFPAS does not provide tax or legal advice. This site is published for residents of the United States only. Registered Representatives and Investment Advisor ...

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Is An Equity Indexed Annuity A Good Idea?

With all of the ups and downs in the stock market, many investors have been asking this question, “Is there a way to make money in the stock market and still have a way not to lose my principal is the market goes down?”    While investment companies have scrambled to find different investment solutions to help the baby boomers with this particular issue, the sales of a product called an equity indexed annuity have been booming.  An equity-indexed annuity is an annuity that earns interest that is linked to a stock or other equity index. One of the most commonly used indices is the Standard & Poor’s 500 Composite Stock Price Index (the S&P 500).   It can be a very complex choice on whether to purchase one of these products in your portfolio. Note: (all information below was taken directly from www.finra.org) What is an Annuity? An annuity is a contract between you and an insurance company in which the ...

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It’s Time For A Real Leader To Step Up

We have begun to see the litany of new candidates who are throwing their hat in the ring to be President of The United States of America in the election next year.   Each of them have some new spin on how to fix the country and the media is glad to begin digging for dirt on what kind of ugly stuff they did in their past.   The current President is now ready to unveil his ‘new’ plan after three years of really having no plan while he actually spends his time campaigning to build a war chest to outspend any competition that challenges his second term.   Most of sit here today in a state of apathy about American politics not really knowing most of the true information, and just thinking for certain that our elections look more like the television show American Idol than they do hiring a person to lead the greatest nation in the World. I think most ...

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Are Diamonds as an investment an alternative to the stock market and gold?

During a time when the only thing for certain seems to be economic uncertainty, have you considered investing in diamonds? For months now, you’ve watched your stocks and other investments see-saw while watching gold prices rise. Now, more than ever, is the right time for a diamond investment. After all, wouldn’t it be great to enjoy a diamond both to wear in a piece of jewelry and for investment purposes?! The diamond investment market has seen a robust recovery since the economic collapse devastated the luxury goods market just a few years ago. Numerous factors play into rising prices, but among the most significant is the recent news of De Beers cutting diamond mining production. With a marked increase in demand from China and diamond supplies simply drying up, De Beers has reduced production in order to extend the life of their mines. As a result, we expect to see prices continue climbing as the divide between supply and demand ...

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Should you buy a ‘combined’ insurance policy?

As technology changes, we are always looking for the latest and best upgrades so we are on the cutting edge.  Just like the technology sector,  the world of insurance policy design and implementation is constantly changing.  One of the most recent designs to hit the market is buying something called a combined insurance policy.    This kind of insurance policy is typically a cash value type life insurance policy combined with a long-term care rider.    Is this a good idea to combine both into one policy, or should you be looking at two separate policies to cover these risk management needs within your financial plan? Families have always bought life insurance (term or permanent insurance) over the years to cover for the short and long term needs in the event of a premature death of one of the partners our spouses in a family unit.  The amount of insurance a family needs has been long debated, but it’s best to use ...

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Personal Finance 101 – College Education Planning – What Types Of Savings Vehicles Can You Use? —

Last week I discussed some of the assumptions you should be thinking about when it comes to planning for the goal of paying for your children’s college education.    Once you figure out the important metrics for each child on how much money you need to save monthly, the next step is to determine which of the myriad savings vehicles out there will serve you best in reaching your goal.   Since the tax laws and legal laws are different from state to state, I highly recommend you consult a financial advisor and/or a CPA before you make any final decisions as each of vehicles have tax and/or control implications down the road.    Here are few types of options that you may consider when investing your lump sum or monthly savings. 529 Plan Or Prepaid Plan – 529 Plans are usually where I get the biggest questions when it pertains to college planning.   Essentially, 529 plans are a way to save after-tax ...

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Personal Finance 101 – College Education Planning – What Are Your Assumptions?

You get home from work one day and your child has the magical letter to open from that college or university that you both always dreamed they would attend.   It’s possible the school is your alma mater or perhaps it is the Ivy League university you always thought your child was possible of being a part of for the next four years.   As you open the letter, you read that your child has been ‘accepted’ into the new freshmen class.  You begin to realize that maybe you haven’t done your homework on how you are going to pay for the college education.  Over the next four weeks, I will examine some of key areas you need to be thinking about when you plan for this type of financial goal. Many financial plans that I see done on families often use blanket assumptions.   When you start thinking about college education planning, it is important to have lengthy discussion with your financial ...

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$2 Is Just Plain Insulting

I flew home to Atlanta on Saturday evening from Denver on Delta, and once again I left the plane dumbfounded on why things just aren’t built into the price of your plane ticket. It was bad enough that this was one of the Delta planes that didn’t have television/movie screens in the back of the seats, but what trumped it all is when the flight attended came whisking down the aisle asking each person if they wanted to buy a pair of headphones for $2.   Yes . . . $2.   $2 so you can watch a commercial for Delta Destinations, The Good Wife, How I Met Your Mother, and The Big Bang Theory.  Or, you can listen to channel 8 Jazz or some other music nobody cares about. What is insulting to me is why Delta doesn’t just tack the $2 on to your ticket.  Nobody would miss it and in my opinion most wouldn’t care.  If the entire ticket ...

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