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CALIFORNIA HOMESTEAD EXEMPTION OVERVIEW - Toothless Grin

Posted by James Burns | Oct 17, 2019 | 0 Comments

Under California law, declared homestead exemption and automatic homestead exemption are separate and distinct protections that operate differently. In re Mulch, Bkrtcy.N.D.Cal.1995, 182 B.R. 569. Under California law on homestead exemption, automatic homestead attaches to principal dwelling o...

What To Do When You Inherit Your Parents’ House

Posted by James Burns | Oct 09, 2019 | 0 Comments

The largest wealth transfer in the history of the world is currently in process. It's estimated that around $68 trillion will switch hands over the next 25 years. Baby Boomers are currently retiring, and many of them will pass of the scene within the next few years. Much of this wealth will be ti...

Medicare Open Enrollment

Posted by James Burns | Oct 09, 2019 | 0 Comments

It's that time of year again for Medicare's Open Enrollment!  Are you ready? If you are new to Medicare then it's important to know that Open Enrollment occurring in the Fall is only designated for changes to be made to current coverage.  These changes include: • Changing from regular Medicare ...

UPDATE: 2019 – 401(k) and IRA Limits

Posted by James Burns | Sep 22, 2019 | 0 Comments

 Although we assume many of our readers know what a 401(k) and an IRA are, let's cover these quickly. What is a 401(k)? 401(k) retirement, savings, and investment accounts are places to store money in which your contributions are typically matched – a portion of those earnings, usually not all of...

Extension On Offshore Account Disclosure

Posted by James Burns | Sep 22, 2019 | 0 Comments

The US Internal Revenue Service has announced an extension of the deadline for special voluntary disclosures by taxpayers with unreported income from offshore accounts. The extension, announced by the IRS on September 21, gives taxpayers until October 15, 2009, to make a disclosure. Under special...

Accountability In Your Personal Retirement Planning

Posted by James Burns | Sep 22, 2019 | 0 Comments

As the author of “The 3 Secret Pillars of Wealth” I have identified what I think are seven to eight steps all Americans need to respond to and become accountable to right now. Accountability is when you're going to get serious about what you're doing and where you're going. Jeff Combs, a great co...

Avoid Income Tax To Your Heirs When You Pass Away

Posted by James Burns | Sep 22, 2019 | 0 Comments

The IRD or Income Respective of Decedent: When we pass away and leave a sizable IRA or other deferred asset our heirs will have to pay the income tax on it personally. This often times increases the heirs own tax bracket causing terrible tax consequences when this can be diffused so easily. This ...

Was Gary Coleman’s Plug Pulled Without His Will?

Posted by James Burns | Sep 22, 2019 | 0 Comments

As Gary Coleman was unconscious in the hospital, his ex-wife, Shannon, gave the order to pull the plug.  Now Coleman's parents have come forward accusing the hospital of stopping the life support prematurely without the proper permission, saying Shannon no longer had the right as she was not his ...

You Can’t Fix Stupid – Employers Leaving California

Posted by James Burns | Sep 22, 2019 | 0 Comments

As a California business and support for other businesses it is sad to see the mass migration of businesses who can longer afford to stay here in California even after years of operations or founding the company in California. Not since the Jews left Egypt has there been such a mass exodus of peo...

Top 10 Important Ages for Retirement Planning

Posted by James Burns | Sep 22, 2019 | 0 Comments

It is never too early to begin thinking about retirement. Even if that season of life is decades away for you, the financial decisions that you make now can have a significant impact on your quality of life later down the road. As you begin planning for your future, it is important to have a guid...

Take a Summer vacation… for your mental health!

Posted by James Burns | Sep 22, 2019 | 0 Comments

The Forty-hour work week paired with a busy schedule tends to be a recipe for stress and burn out. While practicing daily self-care in small increments is an important piece to preventing burn out, periodically taking a prolonged break from our responsibilities and stressors is equally as importa...

How Much Is Retirement Costing You?

Posted by James Burns | Sep 22, 2019 | 0 Comments

No matter who becomes our new President it is almost assured that the entire marginal tax rate will have to shift and that means a deferred retirement plan will get hammered when you retire. Typically you put away money without tax for a number of years and then when you retire your taxed at ordi...

Is Your Pension at Risk?

Posted by James Burns | Sep 22, 2019 | 0 Comments

Everyone faces the concept of retirement at some point. The closer an individual gets to retirement age, the more concerned he may become about his ability to live comfortably after retirement. It may also make him wonder whether his retirement benefits will be available when he is ready to colle...

Your Tax Return & Your Retirement

Posted by James Burns | Sep 22, 2019 | 0 Comments

This years tax deadline is behind us. If you received a refund, what's your plan? Some taxpayers choose to spend the entire check on clothing, shoes, and their appearance.  They never look into investing their money for their own personal future. In a sense, you may be temporarily happy about you...

Asset Protection Concerns For Hedge Fund Managers

Posted by James Burns | Sep 22, 2019 | 0 Comments

We are currently in an economy where people are running scared and are uncertain. I also think there is a jaded perception where we never give thanks or gratitude for what we have and our fear and panic is all about loss of greed which is not useful. This type of environment leads people to alway...

Medicare Scare

Posted by James Burns | Sep 22, 2019 | 0 Comments

Sometimes seniors are denied claims and they think there is nothing they can do and they just accept it. However, a denied or partially paid claim can be appealed and nearly half of the appeals are successful and worth the effort…might as well give it a try. When a Medicare claim is denied or app...

Is Advanta in Breach of Contract on Credit Cards?

Posted by James Burns | Sep 22, 2019 | 0 Comments

As of July 30, 2009 – Advanta Bank Corp. stated that they were closing all business credit card accounts. They cited in the letters that went out that an independent trust which owned the balances cards and provides funding for new transactions was pulling out. As such, you need to keeping paying...

Your 2019 IRA Guide

Posted by James Burns | Sep 22, 2019 | 0 Comments

When it comes to retirement savings, one of the best options available to those who don't have a workplace retirement plan is an IRA. These savings vehicles allow for future retirees to save up to $6,000 per year in a tax-advantaged manner as of 2019. Those who have reached age 50 can add another...

Preparing For Incapacity & Long Term Care

Posted by James Burns | Sep 22, 2019 | 0 Comments

Individuals working for years and planning for retirement ultimately lead to be dynamic go-getters who don't want to think about the limitations and possible incapacitations of old age. However, with smart planning in your 50's and 60's, you can protect your heirs from financial risk and even pro...

Saving Money On Life Insurance In Orange County, CA

Posted by James Burns | Sep 22, 2019 | 0 Comments

There are many people who get duped annually on whole life insurance. Don't get this wrong if you want to overpay for death benefit that goes to your family then Whole Life has merit. However, don't ever get seduced to thinking it has any serious cash build up and that you'll have all kinds of mo...

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