Breaking Down The Tax Plans Of Our Future President

With both the Republican and Democratic debates heating up now, it is probably a good time to attempt to separate fact from fiction when it comes to the future plans of the nominees on how they will change the tax code.  With our national debt soaring to 19 trillion dollars, it is certain we will need a way to balance our budget and right the ship of the financials in this country.  As a finance and accounting guy, I full well know that you cannot run a negative debt situation in perpetuity.  It just doesn’t work.  So, here are the cliff notes to some of the tax plans being bandied about by the frontrunners. Donald Trump (www.donaldjtrump.com) – Trump’s plan has married couples earning less than $50,000 paying no income taxes which will remove more than 75 million households and offers a top tax rate of 25%. The Trump Tax Plan Achieves These Goals: If you are single and earn ...

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What To Do “MONEY – Wise” When You Get Pregnant

It seems like every couple who learns they are pregnant ends up reading the famous book What To Expect When You Are Expecting.  However, most people are so overwhelmed with the good news that they don’t spend time to think about the smart money moves to make when the find out about the pregnancy.   Here are five smart money tips you should know before the due date comes. BUDGET THE BABY ROOM- Especially if this is your first baby, many parents simply don’t plan for the unexpected cost of a new baby room.   Once you start hitting the baby stores for the new crib and reclining chair alone, you could spend $1,000 before you blink your eyes.  Factor in the cost of painting the room, new clothes for the baby, and all the accessories you will need, the new baby room can end up costing several thousand dollars or more if you aren’t careful. PAID LEAVE AND HEALTH INSURANCE- This ...

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6 Weird Ways To Make Money From Home

Topic: 6 Weird Ways To Make Money From Home Taped 2/16/16 Listen every Tuesday morning at 8:00 a.m. on ROCK 100.5 | Atlanta’s Rock Station to “Your Smart Money Moves” with The Rock 100.5 Morning Show and oXYGen Financial. Ted Jenkin, CFP® and Kile Lewis, CRPC® are the founders of oXYGen Financial, and our chief financial officers. All your money questions answered Breathe easier at http://oXYGenFinancial.net ...

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179 Reasons Business Owners Need This Tax Deduction

In the flurry of tax changes that happened for 2016, one of the most overlooked deductions by small business owners is the Section 179 tax deduction.   This deduction was set up to allow business owners to deduct many different types of equipment used for their business.  In fact, there were certain loopholes within this tax code to allow for the purchase of certain vehicles as well. The IRS has set the Section 179 tax deduction limit in 2016 for $500,000 and the overall phase out is $2 million.   There was a little known act that got enacted called PATH (Protecting Americans From Tax Hikes Act of 2015).   PATH presented business owners with a significant opportunity to purchase software, technology, and equipment and if structured correctly expense all of it off in the year they pay for it versus depreciating it down the road. One of the most frequently asked questions is when businesses lease or buy equipment is whether or ...

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5 Cheap Date Ideas For Valentine’s Day

According to the National Retail Federation’s 2016 Valentine’s Day consumer survey conducted by Prosper Insights and Analytics, 54.8 percent of consumers will celebrate Valentine’s Day.   If your family is running tight on a budget this year, how will you be able to take your date out and still make it a very special day?   Sometimes the word “cheap” means that it won’t necessarily be good.   However, with these smart money moves you’ll be sure to warm your partner’s heart. Sunday Brunch vs. Saturday Dinner- Technically, Valentine’s Day falls on a Sunday this year.  This gives you even more reason to do a special brunch instead of an expensive Saturday night dinner.  While Canoe is one of my favorite places for brunch in the city (I’ll be there on Valentine’s Day), there are so many hot and trendy spots in the city that you can try. Netflix Binging-  I suppose you could binge watch almost any program that you have stored ...

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5 Cheap Valentine’s Day Dates

Topic: 5 Cheap Valentine’s Day Dates Taped 2/9/16 Listen every Tuesday morning at 8:00 a.m. on ROCK 100.5 | Atlanta’s Rock Station to “Your Smart Money Moves” with The Rock 100.5 Morning Show and oXYGen Financial. Ted Jenkin, CFP® and Kile Lewis, CRPC® are the founders of oXYGen Financial, and our chief financial officers. All your money questions answered Breathe easier at http://oXYGenFinancial.net ...

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How To Lead By Learning From The Powerball

A few Wednesday’s ago, a magical thing happened at exactly 10:59 p.m.. Millions of Americans were glued to the TV as the Powerball Jackpot escalated to heights never seen before in the history of the Powerball. Billboards had to change the M to a B in order to even let people know where the jackpot stood leading up to Wednesday’s drawing. And then it happened. The winning numbers for the record-breaking jackpot were 4, 8, 19, 27, 34 and the Powerball 10. With three winners across the United States, each ticket was reported to be worth more than $528,000,000. Even with 11 other winners of $1,000,000 in the state of California, people swarmed outside of the Chino Hills 7-11 in hopes of catching a glimpse of the new celebrity Powerball winner(s) who will have more press coverage than when the Beatles did a worldwide tour. While many television stations, radio stations, and newspapers were covering all of the financial, tax, ...

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Should You Be Luke Skywalker or Yoda

Most people want to be the star of the show – the hero that saves the day.  Whether you are a business owner, have employees that you manage, or part of a team, it’s not hard to be the star of the show by crushing that work presentation or exceeding your sales goals.  In life you have these hero opportunities all the time, to be Luke Skywalker, the destroyer of the Death Star and the hero of the day. However, it is the heroes or those behind the heroes that are more influential? Maybe instead of being Luke, you are better off being Yoda.  You remember Yoda, right?  The small, green Jedi Master that mentored Luke.  Being a mentor to those around you can be far more rewarding than being the hero.  We all have a knowledge base that is beneficial to someone.   Spreading that knowledge will increase your sphere of influence and create greater life wealth. Take a moment ...

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Awkward Money Moments

Topic: Awkward Money Moments Taped 2/2/16 Listen every Tuesday morning at 8:00 a.m. on ROCK 100.5 | Atlanta’s Rock Station to “Your Smart Money Moves” with The Rock 100.5 Morning Show and oXYGen Financial. Ted Jenkin, CFP® and Kile Lewis, CRPC® are the founders of oXYGen Financial, and our chief financial officers. All your money questions answered Breathe easier at http://oXYGenFinancial.net ...

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Six Things You Are Spending Too Much Money On Today

Over the years I’ve realized that budgeting is the hardest thing for most families to do each year.   Soon, I’ll have a 21 Day Budget Cleanse® program that you can use to apply the secrets of short term dieting and exercise to how you handle getting the right budgeting habit sin your family no matter what your financial situation.   Since most of our purchases are done in this electronic society through debit or credit card, we often couldn’t tell you what we spend if we had to be within a few dollars of the actual number.  If you haven’t looked lately, here are six items that you are probably spending too much money on in your family budget. Car Payment- I like buying cars for cash, but I know not everyone is able to do this (unless you can get ridiculously low financing).  Your mortgage payment shouldn’t be more than about 25% to 28% of your monthly income and all ...

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