Foreign bank and financial account reporting: are you at risk as a US person, corporation, or trust?

Posted on 07/05/11 by Bill Faiferlick

If you have a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account, the Bank Secrecy Act may require you to report the account yearly to the Internal Revenue Service by filing Form TD F 90-22.1, Report [...]

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Government contracting for small businesses

Posted on 06/07/11 by Bill Faiferlick

Guest: Marsha Lindquist Many businesses shy away from doing business with the Federal Government largely because they have either heard it’s complicated or it requires a large investment in infrastructure to handle successfully. Doing business with the Federal Government can be a very simple matter of selling your product or service to a very willing buyer. [...]

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Government sponsored inflation and tax creeping

Posted on 05/24/11 by Bill Faiferlick

Guest: Jon Bischel Government sponsored Inflation is a tax like any other tax. Value of 1959 dollar is now about $.10. The value of the US dollar has depreciated 90% and that continues. At 3% annual inflation, in 22.5 years, that money becomes worth less than 50 percent. It used to be that being a [...]

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Are we headed for catastrophic inflation and what does it mean?

Posted on 05/17/11 by Bill Faiferlick

Guest: Jaime Dermody Is the sky falling? Does the US have catastrophic debt levels? What about inflationary concerns? Bill Faiferlick and guest, Jaime Dermody, author of The Financial Crisis: why, where it is going & how to fix it will discuss whether we are past the crisis or not. Are we still in a financial [...]

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Helping intergenerational family owned business be more successful

Posted on 05/10/11 by Bill Faiferlick

In today’s volatile business environment, family owned businesses are still the backbone of the US economic engine. Consider the following statistics reported by the University of Southern Maine’s Institute for Family-Owned Business: Some 35% of Fortune 500 companies are family-controlled. Family businesses account for 50% of U.S. gross domestic product. They generate 60% of the [...]

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Estate planning for the estate-less

Posted on 05/03/11 by Bill Faiferlick

Guest: Barry Siegel Many people tend to dismiss the idea of estate planning because they believe they’re net worth doesn’t merit that level of consideration. 65 percent of Americans fail to have a will. Barry Siegel, ESQ., is joining Bill Faiferlick to look at some very real life examples of when estate planning for the estate-less [...]

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What happens to US citizens’ living abroad and their assets?

Posted on 04/26/11 by Bill Faiferlick

Many US citizens in this global economy choose for a myriad of reasons to live abroad whether for employment opportunities, retirement or for sheer pleasure. US citizens who either possess foreign assets or are living abroad are now subject to a complicated, complex web of reporting requirements by multiple US government agencies. Bill Faiferlick and [...]

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What every business owner and professional needs to know about business valuations

Posted on 04/19/11 by Bill Faiferlick

In today’s volatile economy, the biggest question and unknown is whether business owners and professional can sell their business or practice for what they expect. Are their business valuations suspect? Can they be relied upon? How do different valuation methods affect their financial plans? Are they reliable enough to bank their future on? What should [...]

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Can you insure yourself against financial loss in divorce?

Posted on 04/12/11 by Bill Faiferlick

The risk of divorce in today’s uncertain economic environment can have devastating effects on personal finances. Divorce can impact personal finances for years and decades later especially if alimony and child support are a consideration. The process of divorce deals with separating and dividing every aspect of your life. John Logan Founder, CEO and Chairman [...]

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Do you have any banking privacy?

Posted on 04/05/11 by Bill Faiferlick

Bank privacy throughout history has improved the economic situation of entire countries and even saved the lives of thousands. During the Hitler era in Germany, it became a capital offense for a German Jew to have a foreign bank account. In reaction to Germany executing Jews under this law, Switzerland increased the strength of its [...]

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Can strategic partnering be the answer to success for business owners?

Posted on 03/29/11 by Bill Faiferlick

The past 2 or 3 years have hit small business inordinately hard. Typically, they do not have a high level of cash reserves, and what they do have are often backed by the owner’s personal wealth and assets which took a tremendous hit (housing and 401K’s) as a result of the recession. Owners had to [...]

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Divorce, the IRS and unexpected tax consequences, part 2

Posted on 03/22/11 by Bill Faiferlick

By the time most people make the decision to get a divorce, hire attorneys and start the emotional process of separating assets, few people understand that the IRS is also going to be involved and expect their share of the assets as well. Bill Faiferlick’s guests are John Raspante and Arthur Garcia from the firm [...]

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Understanding the pitfalls of US-Canada cross border living

Posted on 03/15/11 by Bill Faiferlick

It seems it should be simple to live in Canada or the US as our cultures and countries are so similar. Americans usually feel completely at home in Canada and Canadians usually feel completely at home in the U.S. However, there are a lot of complexities and differences between the American immigration and taxation system [...]

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Muni meltdown: the next big financial crisis & how you should protect yourself

Posted on 03/08/11 by Bill Faiferlick

Municipal bonds which have been considered the cornerstone of conservative financial planning are now beginning to show signs of fractures. The US debt, baby boomer’s retirement and ½ of US taxpayers not paying federal taxes will forever change America and these investment opportunities for Americans. People are now beginning to understand that one of this [...]

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It’s your money: how to prosper in today’s economy and beyond protecting your assets and privacy from life’s unexpected events roundtable part 2

Posted on 03/01/11 by Bill Faiferlick

Life’s sudden, unexpected events pose the greatest risk to financial security, privacy and maintaining acquired wealth. Many people will unexpectedly find themselves in precarious financial positions at some point due to a failure to anticipate events that result in financial ruin. Considering the effects of the economic downturn, how can we justify not taking the [...]

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