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Four Action Alerts on Purchasing, Inventory, and Suppliers

January 18, 2016
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#1. Periodically solicit new price quotes from other vendors. In competitive times, you often can find other suppliers who will give you better service, lower prices, higher quality, or all three. That’s particularly true for items such as printing, delivery services, office supplies, etc. But be reasonable; soliciting bids on every item can be time…

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Facts and Due Diligence to Adequately Protect Your Home

January 18, 2016
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Casualty and Theft Losses, Coinsurance Clause, Contents, and Umbrella Insurance #1. Casualty and theft losses. In planning your home insurance coverage, keep in mind that you cannot deduct the first $100 of each casualty and theft loss. In addition, casualty losses equal to the first 10% of your adjusted gross income (AGI) are not tax…

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Have You Selected the Right Executor/Executrix?

January 18, 2016
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Fiduciary Obligations, Portability, Disclaimer Option, Contingent Executor, Costs A person with a simple estate can afford to name an executor or executrix for purely emotional reasons, e.g., a spouse or a friend. But, in today’s complex financial environment, it’s rare to have a simple estate and so the choice of an executor with good judgment…

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Know Facts and Cautions on Buying Zero Coupon Bonds vs. Regular Bonds

January 18, 2016
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Action alert: Understand the discount, imputed interest rate, and the phantom tax. Be aware that the market price of zero coupon bonds can be more volatile than regular bonds. The appeal of these bonds is their discounted purchase price and sometimes higher yields. On a zero coupon bond, the discount when you buy the bond…

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Protect Assets and Net Worth with Umbrella Insurance

January 18, 2016
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For Existing and New Policies to Protect Against Personal Liability and Judgements Ask your insurance agent about umbrella insurance. It’s inexpensive insurance (around $300 annually for $1 million of coverage) that covers personal claims, lawsuits, and judgments against you that exceed the dollar limits of your existing property and casualty coverage (e.g., home and auto…

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How to Automatically Increase Your Life Insurance

January 18, 2016
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When buying new life insurance or changing existing policies, always consider two options: (a) the right to purchase additional paid-up life insurance with the dividends the policy generates, and (b) the right to automatically increase the face value of the life insurance based on an inflation index, e.g., the CPI. Reasons: It adds more sibutramine…

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Use of a Living Trust Is Not for Everyone

January 18, 2016
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A living trust, which you set up and use during your lifetime, can be an attractive estate planning vehicle. The principal benefit is that you can control, change, or revoke a living trust at any time. It is popular because the assets in it do not pass through probate, thereby avoiding probate costs and also…

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Owner Is Forced to Sell, but Gets Cash and Affiliate

January 18, 2016
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Three stockholders owned equal shares in a retail clothing store which generated annual sales of $4 million. The value placed on the company was $1.2 million, $400,000 for each stockholder. Problem #1. Two of the three stockholders, for undocumented reasons, did not like working with the third stockholder, who had founded the business 15 years…

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What Investment and Workshop Expenses Are Tax Deductible?

January 18, 2016
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Action alert: You want to be very careful of the IRS rules for Schedule A (Itemized Deductions), Form 1040, when you file your personal tax returns. It is a high IRS audit area. Question. This year I spent close to $2,500 for investment information to help me select stocks and monitor my personal investments. I…

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Business Association Insurance Can Reduce Costs

January 18, 2016
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If available, consider buying personal and business life insurance, including group insurance, from business associations. There are several reasons: Business associations have a variety of business and personal insurance products to meet many of their members’ needs, e.g., buy-sell, key executive, health, and disability insurance. The annual premium cost can be lower than on individual…

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Welcome to Our Blog

 

Tom MartinSave money, protect what you have accumulated, and build more wealth.
The Blog is principally written by
Thomas J. Martin, publisher and president, author, lecturer, consultant, investment banker, college professor, and founder of our publishing company in 1977. For 33 years, Tom has helped hundreds of businesses and individuals on many of the topics covered on this website. The Case Studies are actual, real-life examples of how businesses and individuals solved problems, took advantage of opportunities, and met big challenges. For subjects covered, please see Solutions in the Menu Bar at the left side of this page. Enjoy and we look forward to reading your comments.

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Ideas of the Month

  • Four Action Alerts on Purchasing, Inventory, and Suppliers
  • Facts and Due Diligence to Adequately Protect Your Home
  • Have You Selected the Right Executor/Executrix?
  • Know Facts and Cautions on Buying Zero Coupon Bonds vs. Regular Bonds
  • Protect Assets and Net Worth with Umbrella Insurance
  • How to Automatically Increase Your Life Insurance
  • Use of a Living Trust Is Not for Everyone
  • Owner Is Forced to Sell, but Gets Cash and Affiliate
  • What Investment and Workshop Expenses Are Tax Deductible?
  • Business Association Insurance Can Reduce Costs

Our Idea of the Month are brief articles designed to help you save money, protect your assets, make more-informed decisions, and increase your personal and business wealth.


Tom MartinThe Ideas of the Month are principally written by Thomas J. Martin, publisher and president, author, lecturer, consultant, investment banker, college professor, and founder of our publishing company in 1977. For 39 years, Tom has helped hundreds of businesses and individuals on many of the topics covered on this website. The Case Studies are actual, real-life examples of how businesses and individuals solved problems, took advantage of opportunities, and met big challenges. For subjects covered, please see Solutions (15 Critical Subject Areas) in the Menu Bar at the left side of this page. Enjoy and we look forward to reading your comments

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