Hiring your spouse can result in significant tax savings. This is especially true if you are a sole proprietor or have a single-member LLC since these entities enable the business owner to deduct the family medical expenditures. The IRS has no limit on how much you can reimburse your spouse for medical expenses.
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Jul. 31— BUFFALO— Two uniformed U.S. marshals, handcuffs hanging from their belts, took seats in the courtroom of U.S. District Court Judge Richard Arcara as he began sentencing proceedings Monday for former Falls businessman and current newspaper publisher Frank Parlato Jr. "He has every right to not like the IRS. But he has no right to commit a crime, "Assistant U.S….
A preliminary settlement has been reached involving a securities lawsuit against 22nd Century Group Inc. and two former top executives, according to a news release Monday from a law firm representing the plaintiffs. According to Pomerantz LLP, the federal settlement involves a lawsuit filed in September 2019 in the Western District Court of New York.
Empowering African American agents to remain in the game
During a recent NAAIA, three seasoned insurance agency owners discussed what it took to build a successful agency.
Adding alternative investments to your wealth practice with PPLI
Investors are diversifying beyond stocks and bonds. How to use private placement life insurance.
Guiding clients through a realistic retirement budget
Help clients envision the retirement they want and let them know what it will take to make it happen.
CEO Carl Ruderman’ s part in the 1 Global Capital fraud already has cost him money— a $15 million civil penalty, another $750,000 cash dunning— and real estate, as in 50% of the equity in a five-bedroom, 12- bathroom Aventura condominum. Ruderman’ s indictment puts the size of the 1 Global Capital fraud at $250 million, the lowest estimation to appear in any of the…
When ‘spray and pray’ fails: How to develop a niche market
A growing number of advisors are spurning the “spray and pray” approach, and turning to niche marketing to attract their ideal clients.
Do you know how your clients feel about money? If not, find out.
Have you ever considered your client’s feelings about money? In the same way that people may have different opinions of movies or music, everyone reacts differently to the money they have (and the money they don’t).
The Securities and Exchange Commission today charged Brent Seaman of Naples, Florida, and various entities he managed for fraudulently raising approximately $35 million from at least 60 investors through an unregistered securities offering. The SEC's complaint alleges that, from approximately June 2019 until September 2022, Seaman told investors he…
U.S. regulators unveiled plans to impose even tighter capital rules on big banks, setting up a battle with the industry over whether the push for financial stability will make the country's lenders less competitive. The measures released Thursday by the Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency would…
Two Omaha men were federally indicted last week for their alleged participation in a check fraud scheme involving nearly $290,000 in forged business checks deposited at financial institutions across Nebraska and elsewhere. Federal prosecutors on Friday unsealed an eight-count indictment against Calvin Carter, 20, and Malik Washington, 26, alleging…
Wells Fargo& Co.' s board of directors has chosen to make a major statement with Tuesday's authorization of a new stock-repurchase program worth up to $30 billion. However, they stress it doesn't make amends to shareholders for the $1.97 trillion asset cap limitations established in February 2018 by the Federal Reserve in response to the fraudulent customer…
The financial markets are in their most boring summer days as I write this column. Even news about unemployment and interest rates doesn't seem to rock the stock market. The long-awaited recession appears elusive, and inflation appears to be waning.
The Federal Reserve has pushed interest rates to their highest level in two decades. The Fed is negotiating stubborn, competing deflationary and inflationary forces. Inflationary expectations, however, are hardening— the Conference Board, New York Federal Reserve Bank and University of Michigan surveys of one-year inflation expectations average about…
This year, a near record 61% of Americans say they own stock of some sort, whether individually or through a tax-advantaged retirement account like a 401. Magnifi, an AI investing app, analyzed data from Gallup and the Federal Reserve to illustrate how Americans invest their income across various assets today. Scientists at Gallup and data scientists at the…
Two Omaha men were federally indicted last week for their alleged participation in a check fraud scheme involving nearly $290,000 in forged business checks deposited at financial institutions across Nebraska and elsewhere. Federal prosecutors on Friday unsealed an eight-count indictment against Calvin Carter, 20, and Malik Washington, 26, alleging…
Federal authorities in New York charged British billionaire Joe Lewis with insider trading for allegedly sharing corporate information with people close to him. U.S. Attorney Damian Williams, announced Tuesday that the Southern District of New York had indicted Lewis for "orchestrating a brazen insider-trading scheme" that saw people he shared…
Higher interest rates expected to help insurers post good Q2 results
Rising interest rates will drive the story that life insurance companies report during second-quarter earnings season beginning next week — both for the good and, possibly, bad.
Americans say their financial planning needs improvement and that having a financial advisor boosts confidence, yet only 37% work with one according to Northwestern Mutual’s 2023 Planning & Progress Study.Â
