Financial Strategist Blog

The Truth About Second Passports

Posted on 08/24/14 by Elizabeth Barber
Bill Faiferlick Financial Strategist on Second Passports

If we believe articles that are written by “experts”, we’re encouraged to think a second passport is one of those solutions a American citizen could greatly benefit from. Below is an excerpt of an article published by Bob Bauman, co-founder and legal counsel for the Sovereign Society. The World’s Best Second Passports “Acquiring a second [...]

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The One Thing That Will Ruin A Business Sale or Purchase

Posted on 05/22/14 by Bill Faiferlick
Business Sales

Today’s world is more complicated than ever if you’re one of the millions of business owners who will be selling or transferring a business in the near term. How do you accomplish this in the most tax advantageous manner possible? By knowing how to turn a buyers’ market with expected discounting into a tax-smart opportunity [...]

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Tax Season Is Over. Did You Pay Too Much?

Posted on 04/30/14 by Bill Faiferlick
Bill Faiferlick Tax Saving Strategies

I believe this is one of the timeliest slogan you’ll read this year. “Who dares, wins.” Simply stated, the person who dares to take chances wins. Think about it. Everybody who is a winner, a success, is there because at some point they dared to be different, dared to take a chance, dared to believe [...]

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The United States Government Isn’t Playing By Its Own Rules

Posted on 10/06/13 by Bill Faiferlick
Bill Faiferlick Financial Strategist Governmentt Shutdown

It seems the very politicians we put in office to run our country only want to do so if they can steal the agenda and force their ideas down the people’s throats, even when they are violating laws that have been enacted to prevent this. Instead of going through the legislative processes mandated by law [...]

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You Can Reduce Your Business Taxes with Conservative Leveraging Strategies

Posted on 09/23/13 by Bill Faiferlick
Bill Faiferlick Tax Reduction Leverage

Most people are unfamiliar with the opportunity to leverage the tax system in a conservative, legally compliant way that yields incredible benefits for business owners and professionals. We’re all familiar with traditional retirement planning like 401(k)s. However beneficial this type of plan may be for the rank and file employee, it falls short of any [...]

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Why Your Accountant Can’t Help You Retire if You Own Your Own Business

Posted on 09/06/13 by Bill Faiferlick
Bill Faiferlick Retirement Planning for Business Owners

You don’t know what you don’t know, and neither do they. Often the people you trust the most with your money matters unknowingly make inaccurate assumptions based on their level of knowledge, and in the process keep you from knowing about beneficial opportunities. Most financial advisors and accountants don’t know how to interpret specific tax [...]

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Will Unexpected Medical Costs Blindside Your Income or Business?

Posted on 01/15/13 by Bill Faiferlick

Unexpected health issues can cause financial distress even to the best run companies. One all too frequently ignored problem that aging business professionals who own and operate successful businesses fail to confront are the ‘never’ expected health issues. I mean ‘never’ because most business owners tell me they will continue to operate their businesses. Increasingly [...]

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If You Have K1 Income, Then You Need to Know This!

Posted on 12/06/12 by Bill Faiferlick

Days of Excessive K1 versus W2 income is successfully being recharacterized by the IRS and is being upheld by the courts. For decades business owners have handsomely benefited from lower tax rates by shifting most of their income to K1 income. Today, most business owners will discover all too late that this technique is now [...]

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Taxes Are Rising: Do You Know What Your Alternatives Are?

Posted on 08/22/12 by Bill Faiferlick

Year in and year out in my conversations with business owners the single most often repeated concern is how to combat the challenges of rising taxes because the failure to address this successfully will result in a net decline in income. Unfortunately, by overpaying taxes, this is greatest waste of vital capital and personal wealth. [...]

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Can the US be far behind?

Posted on 06/30/12 by Bill Faiferlick

While the US is lecturing the Chancellor of Germany about how to deal with the financial crisis (and there is a financial crisis in Europe), the German Chancellor came back with pointed statement: deal with your own financial issues. They are worse than Europe’s. The debate is on in many European countries about how much [...]

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In fewer than six months, Americans will face their biggest tax hikes in history

Posted on 08/15/10 by Bill Faiferlick

As of Jan. 1, 2011, no matter what your tax bracket, you can expect a hike. The lowest, 10% bracket will rise to 15%. On the high end 35% will rise to 39.6%. And everything in between… The 25% bracket will rise to 28%. The 28% bracket will rise to 31%. The 33% bracket will [...]

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How the new wealth taxes will hit you and what you can do about them

Posted on 07/15/10 by Bill Faiferlick

A recent article in the Wall Street Journal examined some of the new wealth taxes and experts made some recommendations to minimize these taxes. I’ve been recommending business owners and professionals take advantage of the strategies suggested for years. Their recommendations were: Reconsider a defined benefit pension. Meaningful changes aimed at business owners and professionals [...]

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Protecting wealth requires a very proactive approach

Posted on 06/15/10 by Bill Faiferlick

“Building wealth is useless if you cannot protect it from the government and other people who want to take it away from you” - Asset Protection, Donald Trump Making money is the easy part; the hard part is turning it into something more. When I think of the word internal it conjures up images of internal [...]

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How many times have you said if there was something I could do about my taxes I would? Part II

Posted on 05/15/10 by Bill Faiferlick

Now you can. A few years ago Congress changed the benefits business owners and professional can expect with hybrid pensions. Today new annual deductions as high as $250,000 are available for those with high tax obligations which will drastically cut those taxes.   You simply go to work, run your business or practice as you’ve done or [...]

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Is real estate still capable of being a real wealth builder? Why real estate can’t provide the same financial wealth as in the past. Part I

Posted on 04/15/10 by Bill Faiferlick

A number of my clients have prompted this month’s blog because the decades’ old assumptions we’ve applied to owning real estate as a highly appreciable investment are being altered and re-written as I write this. In this new economy there are monumental changes occurring. Real estate no longer appears to be the safe and lucrative [...]

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