tag:blogger.com,1999:blog-50900603400887600812024-02-07T22:06:59.326-08:00Westward Advisors GroupWestward has designed and implemented insurance plans for hundreds of high net worth Canadians who want to eliminate the tax burden on their estates while minimizing personal tax during their lifetimes.
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.comBlogger24125tag:blogger.com,1999:blog-5090060340088760081.post-60951755817509741112015-01-04T17:04:00.001-08:002015-01-04T17:04:47.457-08:00Westward Group for Tax and Estate Planning Advisors Tokyo Paris Review: Money-saving Tax Tips<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">It may seem a little early to think about filing
taxes, but doing a few quick things now can make it easier when April rolls
around.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">Tiffany Crawford, tax supervisor at Rea and
Associates, Inc., said it's important that people start tax planning in the last
few days of the year, if they haven't already.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">"We begin tax planning as soon as April
16th for many of our clients," Crawford said in an email. "There are
many reasons for this, but the most important one is having enough time to
implement the <a href="https://www.facebook.com/pages/Westward-Advisors-Group/400137506784910">tax
savings</a> opportunities that make sense."<o:p></o:p></span></div>
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<b><span style="font-family: "Georgia","serif"; font-size: 12.0pt;">SAVE MONEY<o:p></o:p></span></b></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">There's still time before the New Year to <a href="http://insurancenewsnet.com/oarticle/2014/12/27/money-saving-tax-tips-a-581565.html#.VKDSil4CME">save
money when paying taxes</a> later.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">Crawford said each taxpayer's situation is
different, but "there are many ways to save tax dollars available to
taxpayers each year."<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">Contributing to a retirement plan, making a
charitable donation or making sure you have health <a href="http://westwardadvisors.tumblr.com/">insurance</a> may save some bucks in
the long run, said Randy Kaup, Certified Public Accountant with Moorman,
Harting and Co., in Coldwater.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">People can contribute up to $5,500 to an IRA,
which is tax deductible, he said, or maximize a contribution to an employer's
retirement account.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">Contributing to a retirement plan or making a
charitable contribution before the clock strikes midnight on Dec. 31 can reduce
the amount of income that's taxable, Kaup said.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">The new health insurance law also requires
people to indicate whether or not they have health insurance on their tax forms
or pay a fine of $95 or 1 percent of household income, Kaup said.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">Crawford recommends <a href="http://westwardadvisors.com/">talking to a professional</a> about the
best way to "make certain that you are taking advantage of every deduction
and tax credit available to you."<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">She added that reviewing the prior year's return
can help as well.<o:p></o:p></span></div>
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<b><span style="font-family: "Georgia","serif"; font-size: 12.0pt;">STAY
ORGANIZED<o:p></o:p></span></b></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">Another important tip Crawford offered is
staying organized.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">"A lot of my clients have a filing system
of some sort," she said. "It doesn't need to be anything complicated;
I see a lot of manila file folders labeled '20XX Taxes' each year."<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">Bob Sielschott, Certified Public Accountant and
senior partner at Sielschott, Walsh, Keifer & Regula CPAs, Inc. in Lima,
emphasizes good record keeping when it comes to taxes.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">"Capture the material during the year, so
you can compile it when it's time," he said.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">The "material" to capture is tax
documents from employers. Crawford said it's important to know which ones to
expect from your employer, though they are usually the same type as the year
before, she said.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">"One of the major things they need to do is
be very, very careful about watching their mail in January and early
February," Sielschott said.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">Important documents such as 1099s, Social
Security forms, mortgage forms and more come in the mail, and sometimes people
can misplace them, he said.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">Those aren't the only documents to keep track
of, he said. There are also receipts from charitable donations, mileage logs
and child care information, Sielschott said.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">The hope is that preparing now, before the new
year, will help save time and money when people begin the process of filing
taxes.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">"It's all about record keeping,"
Sielschott said.<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com1tag:blogger.com,1999:blog-5090060340088760081.post-62241634000115307552014-12-30T18:17:00.004-08:002014-12-30T18:17:45.448-08:00Westward Group for Tax and Estate Planning Advisors Tokyo Paris Review finds companies with tax abatements meeting requirements<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">MONROE
- A recent review of companies that have received <a href="http://www.journal-news.com/news/news/review-finds-companies-with-tax-abatements-meeting/njZwJ/">tax
abatements</a> from the city of Monroe found that they are all in compliance
with the requirements, such as job creation, outlined in the agreements.<o:p></o:p></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">City
Council Tuesday approved a resolution accepting the <a href="http://westwardadvisors.com/">annual review</a> of the city’s 16 community
reinvestment areas, tax increment financing districts and residential
improvement districts that certifies that all were in compliance to maintain
their various tax abatement designations.<o:p></o:p></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><a href="https://twitter.com/westwardadvisor">The Butler County Tax Increment
Review Council</a> is required by state law to review each agreement to
determine if the property owners are in compliance with each of those tax
exempted properties. Some require the creation of a specific number of jobs or
other requirements to stay in compliance. The TIRC review submits a review to
City Council to continue, modify or cancel each agreement and the law further
requires council to approve the review within 60 days. The TIRC review was
completed in November and on Tuesday council adopt a resolution to approve the
review.<o:p></o:p></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Among
those areas approved for continuance were in the Monroe Logistics Center, IDI,
Corridor 75, and the <a href="https://plus.google.com/u/0/b/116817966516783482962/116817966516783482962/posts">Monroe
Commerce Center</a>.<o:p></o:p></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></div>
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<b><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Liquor control hearing motion declined<o:p></o:p></span></b></div>
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<b><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></b></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Council
opted not to request a hearing before the state Liquor Control Commission on a
request for a D-5 permit being sought by Main Street LLC, the business taking
over the space of the Red Onion.<o:p></o:p></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">A
D5 permit will allow for spirituous liquor for on premises consumption only,
beer, wine and mixed beverages for on premises, or off premises in original
sealed containers, until 2:30 a.m.<o:p></o:p></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Officials
said the restaurant will reopen sometime in January.<o:p></o:p></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></div>
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<b><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Laid-off firefighter has a new home<o:p></o:p></span></b></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Zachary
Bernard received his badge and helmet as he was introduced to council.<o:p></o:p></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Bernard
was one of 11 Middletown firefighters who were laid-off due to budget
constraints. Tuesday was his first day with the Monroe Fire Department and Fire
Chief John Centers said he expects Bernard to become an asset to the
department.<o:p></o:p></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">“I’m
really excited in coming to Monroe and I’m looking forward to a long career
here,” Bernard said.<o:p></o:p></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></div>
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</div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">He
is also certified as an emergency medical technician and as a hazardous
materials technician.<o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-61193451927033748092014-12-28T17:13:00.002-08:002014-12-28T17:13:54.751-08:00Westward Group for Tax and Estate Planning Advisors Tokyo Paris Review - Tax Strategies Scan: More Year-End Tips<div style="text-align: center;">
<img src="http://i.imgur.com/i0tMhBG.jpg" style="-webkit-user-select: none;" /></div>
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<span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Our weekly <b><a href="http://www.accountingtoday.com/news/tax-planning/tax-strategies-scan-more-year-end-tips-72949-1.html"><span style="text-decoration: none; text-underline: none;">roundup of tax-related
investment strategies and news</span></a></b> your clients may be thinking
about.<o:p></o:p></span></div>
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<br /></div>
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<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">5 year-end tax tips for clients</span></b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">: As the year draws to a close,
investors should keep in mind their financial obligations to avoid certain
consequences such as tax penalties, according to U.S. News & World Report.
Mutual fund owners could face a huge tax liability from returns accumulated
before the fund was purchased. For seniors, the deadline for making minimum
distributions for retirement plans becomes Dec. 31 after the initial year of
taking such distributions. -- <i>U.S. News
& World Report</i><o:p></o:p></span></div>
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<br /></div>
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<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">How to avoid capital gains tax on
stocks:</span></b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"> I just did
it, and your client can, too: Long-term capital gains tax rates vary depending
on the tax bracket, with taxpayers in the 10%-15% tax bracket paying no tax at
all, according to Motley Fool. Those who are in the 15% tax bracket have a
taxable income of $36,900 for singles, $73,800 for joint filers, and $49,400
for heads of households. To avoid paying long-term capital gains tax, taxpayers
need to have a taxable income that won't exceed these figures, and may keep
their income low by taking tax deductions, such as the standard deduction,
personal exemptions, and the Child Tax Credit. -- <i>Motley Fool</i><o:p></o:p></span></div>
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<br /></div>
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<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">How to lower your client's tax
bill:</span></b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"> Clients are
likely to face big capital gains tax as stocks soared this year, but they may
reduce their tax by deferring their income and accelerating deductions, says
Robert Willens, a CPA and president of Robert Willens. They may also consider
donating the securities instead of selling them and donate the money, so they
won't pay capital gains and still take a deduction amounting to the security's
fair value, Willens says. Harvesting losses by disposing of assets with
dwindling value is also another way for investors to lower the tax bill. -- <i>Barron's</i><o:p></o:p></span></div>
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<br /></div>
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<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">When your clients pay a higher
tax rate:</span></b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"> Rich people
pay higher tax rates as their investment income undergoes double taxation,
according to Forbes. Despite having lower taxes than labor income, investment
income is still taxed in the corporate level, which makes tax burdens higher.
-- <i>Forbes</i><o:p></o:p></span></div>
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<br /></div>
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<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Year-end charitable tax tips:</span></b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"> Taxpayers can donate tangible
property or cash to charities to reduce their tax bills, according to Forbes.
To get tax deductions, donations in the form of household items should be in
good used condition or accompanied by a qualified appraisal, cash donations
need to be proven by a written receipt from the charity or a bank record. Tax
deductions for charitable gifts may be obtained by itemizing these donations on
Schedule A of Form 1040. -- <i>Forbes</i><o:p></o:p></span></div>
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<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">7 smart year-end tax moves to
prepare for 2015:</span></b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"> Clients are
advised to check if there are last-minute tax deductions and to take a
financial inventory before the year ends to prepare for the tax season in 2015,
according to Forbes. They also need to determine their effective tax rate,
account for all Roth conversions, and act on any withholding issues for next
year. Clients can also reduce their tax bill if they incurred investment
losses, and use the remaining amount in their flexible spending account before
Dec. 31. -- <i>Forbes</i><o:p></o:p></span></div>
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<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">9 rules for tax-smart charitable
giving:</span></b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"> People who
intend to give to charities need to remember a few things to get tax benefits
when filing their tax returns in April, according to Time Money. They are
advised to itemize tax deductions instead of taking the standard deduction,
donate to a legitimate charity, and make sure they make the donation by Dec.
31. They also need to have a receipt of the donation, make sure the donated
goods are in good condition and valuated accordingly. If they opt to donate
highly appreciated investments, they won't pay taxes on capital gains and
deduct the full market value of these investments from their tax bill. -- <i>Time
Money</i><o:p></o:p></span></div>
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<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<i><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">More related topic issue and information?
Just visit <b><a href="http://westwardadvisors.com/"><span style="text-decoration: none; text-underline: none;">Westward Advisors</span></a></b>.</span></i> <i><span style="font-family: "Cambria","serif"; font-size: 12.0pt; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Westward's
expertise is in designing, implementing and managing insurance-based tax and estate
plans for high net worth individuals and owners of private companies. For more
update, follow us on <b><a href="https://twitter.com/westwardadvisor"><span style="text-decoration: none; text-underline: none;">Twitter</span></a></b>.</span></i></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-1137273542513555792014-12-25T17:18:00.005-08:002014-12-25T17:19:59.799-08:00Westward Group for Tax and Estate Planning Advisors Tokyo Paris Review: Tax Tips for New Parents<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: Georgia, serif;">When I say kids are
expensive, I’m not telling you anything you don’t know. But man, they are
expensive. Once you accept that, you may want to shift your paradigm. Since
you already committed to this parenting racket, you might as well make the most
of it. And financially speaking, that
means <a href="http://www.forbes.com/sites/emmajohnson/2014/12/10/tax-tips-for-new-parents/">tax</a>
breaks. Here are X deductions that you should be sure not to miss this tax
season:<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: Georgia, serif;">Child Tax
Credit</span></b><span style="font-family: Georgia, serif;"> You can claim up to $1,000 for every
kid under 17 in your household. This sum is phased out when married
couples’ adjusted gross income exceeds $110,000 and $75,000 for
single parents. <o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<i><span style="font-family: Georgia, serif;">Don’t make this
mistake: </span></i><span style="font-family: Georgia, serif;">Be sure to file for a Social Security number
as soon the baby is born. The hospital should have the paperwork.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: Georgia, serif;">Earned Income
Tax Credit </span></b><span style="font-family: Georgia, serif;">If you have three or more kids and earned
less than $46,997 as a single person, or $52,427 as a married couple in 2014,
you can take this credit. If you have one or two children you may also qualify
if your income is very low. The maximum credit is $6,143.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: Georgia, serif;">Child care </span></b><span style="font-family: Georgia, serif;">for
kids aged 13 and younger, qualified child care, day camps and before- and
after-school programs qualify for the dependent care tax credit. This
means that most families can deduct up to 35 percent of the costs for care, for
a maximum of $3,000 for one kid, or $6,000 for two or more family
members.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<i><span style="font-family: Georgia, serif;">Don’t make this
mistake: </span></i><span style="font-family: Georgia, serif;">Collect the tax ID or Social Security number of
any care providers.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: Georgia, serif;">Flexible
spending accounts </span></b><span style="font-family: Georgia, serif;">Take advantage of your employer’s
flexible spending account for both health care and dependent care. The maximum
you can shelter is $5,000 for qualifying dependent care. <i>Don’t make
this mistake: </i>Remember to spend down any FSA account and
get reimbursed for expenses before any deadlines. <b>Medical
expenses </b>if you had excessive medical expenses (not
counting insurance premiums), you can deduct total family health
care expenses exceeding 7.5 percent of your adjusted gross income. This
means that if your 2014 adjusted income was $100,000 and you spent
$8,000 on your and your family’s medical expenses, you can deduct $500. <i>Don’t
make this mistake: </i>Collect receipts for all medical expenses
throughout the year, including dental care and any prescribed therapies
(including prenatal yoga and prenatal vitamins). Consider scheduling elective
procedures before year’s end.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: Georgia, serif;">Adoption
costs </span></b><span style="font-family: Georgia, serif;">if you adopted a child and the process was
finalized in 2014, you are eligible for up to $13,190 per child in
federal tax credits. <o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: Georgia, serif;">College
contributions </span></b><span style="font-family: Georgia, serif;">did you start a college fund? Most states
offer tax deductions for residents who invest in their state-sponsored 529
college savings plans. Deadline for taking the deduction in 2014 in most states
is Dec. 31 of this year.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: Georgia, serif;">If the
birthdate is 2014, claim that kid! </span></b><span style="font-family: Georgia, serif;">Even if your baby
popped out at 11:59:59 on Dec. 31, deduct away.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: Georgia, serif;"><a href="http://westwardadvisors.com/">Westward Group for
Tax and Estate Planning Advisors Tokyo Paris Review</a></span></b><span style="font-family: Georgia, serif;">
has designed and implemented insurance plans for hundreds of high net
worth Canadians. We developed The Life Step Process as a way for
accountants and lawyers to help their clients grow and protect wealth, and
manage the estate in the most tax efficient way possible. Gather more
information, you can visit us at <a href="http://westwardadvisors.tumblr.com/">Tumblr
Page</a> and <a href="http://westwardadvisors.blogspot.com/">Blogspot Page</a>.
You can follow us as well to the following page said.<span style="font-size: medium;"><o:p></o:p></span></span></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-41885172609811821892014-12-22T16:35:00.001-08:002014-12-22T16:35:37.163-08:00Westward Group for Tax and Estate Planning Advisors Tokyo Paris Review: 5 Investing Resolutions for 2015<div class="MsoNormal" style="text-align: center;">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;">Consider rebalancing your portfolio in anticipation of the new
year.<o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: center;">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;"><br /></span></b></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="http://www.usnews.com/dims4/USNEWS/b5c7614/2147483647/resize/652x%3E/quality/85/?url=%2Fcmsmedia%2F21%2F6a%2Ff61cb8394fb19a65ef31dd83deec%2F141202-2015savings-stock.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://www.usnews.com/dims4/USNEWS/b5c7614/2147483647/resize/652x%3E/quality/85/?url=%2Fcmsmedia%2F21%2F6a%2Ff61cb8394fb19a65ef31dd83deec%2F141202-2015savings-stock.jpg" height="213" width="320" /></a></div>
<div class="separator" style="clear: both; text-align: center;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;">With the
holiday season upon us, we should make time to reflect on the past year and
think about our financial goals, milestones we hope to reach in 2015 and how we
can better prepare for retirement.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;">It’s also
important to remember tax season is around the corner. Therefore, now is also a
great time to review your investments and your saving and spending behaviors.
Next, you can determine resolutions that may be right for your </span><a href="http://westwardadvisors.com/"><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;">financial situation</span></a><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;">.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;">As you plan
your 2015 resolutions, here are five tips to consider that may help you enhance
your investing and retirement planning strategies.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;">1. Give your portfolio a tuneup.</span></b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;"> Now is a
great time to review portfolio holdings and performance, and to determine how
to maintain an </span><a href="http://westwardadvisor.livejournal.com/"><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;">investing
strategy</span></a><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;"> to help reach your goals. Take a look at
your investments. Does your portfolio align with your risk tolerance? You can
find online tools through brokerages to help you understand your portfolio’s
gains and losses. Investors can create a diversified portfolio with multiple
ETFs, for example. Using dollar-based investing, you can streamline the asset
allocation process. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;">2. Maximize retirement contributions.</span></b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;">
According to ShareBuilder's Financial Freedom Survey, released in March, which
conducted 1,008 interviews of adults 18 and older from Feb. 13 to Feb. 16., 57
percent of working Americans are concerned they won’t save enough money in time
for retirement. By taking advantage of your employer’s retirement plan, you can
work toward growing your retirement nest egg.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;">Beginning in
2015, employees will be able to contribute up to $18,000 annually to their
401(k) plans. Determine how much you can comfortably contribute. If possible,
you may want to max out your 401(k) contributions and your employer match if
you have one. If you can swing it, setting aside the full amount can be a great
way to maximize your long-term investments.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;">3. Think about putting that holiday bonus to work.</span></b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;">
Examine your personal financial situation, and determine how you can best use
the additional funds from a work bonus or holiday gifts. You may want to
consider starting an investment portfolio, building an emergency fund or using
that money to help a reach milestone like a down payment for a car or home.</span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Cambria, serif; font-size: 12pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Cambria, serif; font-size: 12pt; line-height: 115%;">Once your
account is established, you could continue to grow it through automatic
contributions. Programs, including ShareBuilder’s automatic </span><a href="http://westwardadvisors.blogspot.nl/"><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;">investing
plan</span></a><span style="font-family: Cambria, serif; font-size: 12pt; line-height: 115%;">, enable you to invest a set dollar amount on
a regular basis and at a low cost. Becoming accustomed to putting away money on
a regular basis is a critical first step – and it may build over time. </span><a href="http://money.usnews.com/money/blogs/the-smarter-mutual-fund-investor/2014/12/10/5-investing-resolutions-for-2015"><b><i><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-size: 11.0pt; mso-hansi-theme-font: major-latin;">Read
the full article here..</span></i></b></a></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-37215557993935589822014-12-20T17:04:00.000-08:002014-12-20T17:04:55.289-08:00Westward Group for Tax and Estate Planning Advisors Tokyo Paris Review: Top 5 Tips to Get Your Company Funding Fit<div class="separator" style="clear: both; text-align: center;">
<a href="http://1u88jj3r4db2x4txp44yqfj1.wpengine.netdna-cdn.com/wp-content/uploads/2014/12/FundingFit-780x687.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://1u88jj3r4db2x4txp44yqfj1.wpengine.netdna-cdn.com/wp-content/uploads/2014/12/FundingFit-780x687.jpg" height="351" width="400" /></a></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12.0pt;"><a href="http://venturebeat.com/2014/12/10/are-you-funding-ready-top-5-tips-to-get-your-company-funding-fit/">Are
you funding ready? Top 5 tips to get your company funding fit</a><o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">2015’s a hair’s breadth away. As you start next
year’s planning, here are 5 things you can do to give yourself the best chance
of securing new investors in your business – either debt or equity.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: "Georgia","serif"; font-size: 12.0pt;">1. Have
your financials in order<o:p></o:p></span></b></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">The first thing any investor is going to ask for
is your historic <a href="http://westwardadvisors.tumblr.com/">financials</a>,
so you should have them ready and in a useable format. At Lighter Capital, we
like to see 24 months of historic financials for both the P&L and the
Balance Sheet. Some investors may require less, but at the minimum, I would
suggest having the quarterly financials for the last 12 months ready. You
should know that any institutional lending source is going to require that you
produce monthly financials so this is something to think about as you head to
market.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">- The easiest way to determine if your
financials are ready to be seen by an outside financing source is to have
someone with an accounting background take a quick look at them. This can be as
simple as asking your <a href="http://westwardadvisors.com/">tax</a> accountant
to review, and now is a good time to ask them before they get slammed by
year-end tax returns. They’ll let you know if you are doing anything blatantly
wrong from an accounting prospective. I won’t sweat the small mistakes but if
you have negative revenue or assets that could be a liability, they can help
you make those changes easily. If you run into bigger issues, you might want to
consider getting outside help from a CPA or controller, like our friends at
Early Growth Financials.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">- There are a few different types of <a href="http://westwardadvisor.livejournal.com/">accounting</a> methodologies:
cash, accrual, and modified accrual. It’s good to understand the pros and cons
of accrual and cash accounting of each methodology before choosing one to
implement. For example, a common error we see with accrual accounting is that
many entrepreneurs only make adjustments at year-end, where this methodology
actually requires monthly adjustments. This makes for a confusing P&L. For
small business, it’s easier to just do cash accounting if you can understand
it, and it helps you become very familiar with your company’s cash situation.
Don’t feel that you have to use accrual accounting because that is GAAP
standard. Lots of investors deal with different types of accounting
methodologies, so they can read whatever statements you give them as long as
they are accurate.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: "Georgia","serif"; font-size: 12.0pt;">2.
Projections – know where you’re headed<o:p></o:p></span></b></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">As we enter the New Year, it’s good to have a
sense for where you’re going and projections help you get there. The most
helpful projections are not the ones that just take a growth percentage and
apply it on a monthly or quarterly basis, but the ones that are based on your
pipeline and historic performance.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">- Things to keep in mind include seasonality:
are you a seasonal business, and if so, do your projections reflect it? Do you
have some big customer wins projected over the next 12 months and when do you
expect them? Do you have big payments to vendors or debt sources? Be sure to
include them in the projections, including any adjustments needed to reach
these goals and how they’ll be layered in over the next year (i.e. additional
employees, larger commissions for sales, advertising and technology spend, and
product development plans, etc.).<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">- As if that wasn’t enough to consider in your
projections, you might want to think about having two sets — a tortoise and a
hare. Your ‘hare’ scenario is a high growth shoot-to-the-moon scenario for
equity investors and the ‘tortoise’ is a more stable, plodding scenario for
debt investors.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">- If this seems like a lot, a basic set using
growth percentages and margins works well and at least gives your investors a
place to start when evaluating the outlook for the next year.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: "Georgia","serif"; font-size: 12.0pt;">3. Explain
your customer base<o:p></o:p></span></b></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">Everyone will want to know something about your
customers. If you put together a basic chart (like the one below) for your top
10 customers, you’ll help fend off 90% of potential questions.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">If you have customers that represent more than
10% of your annual revenue, expect some type of follow-up questions from
interested investors who might ask to see copies of the contract, request
reference checks, and review historic churn in your customer base.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: "Georgia","serif"; font-size: 12.0pt;">4. Service
/ Product Elevator Pitch<o:p></o:p></span></b></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">Now that you have the boring (or if you’re me,
exciting) financials portion out of the way, you’ll need to explain what your
company does. Try to make your product pitch concise and easy for people to
understand. In Lighter Capital’s 10-minute online application, we call it the
elevator pitch and we limit it to 500 words. After you have investors hooked,
you can get into more details like the market (i.e. “the white space”) and the
details of your service or product and why it is unique.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: "Georgia","serif"; font-size: 12.0pt;">5. White
Space – highlight your competitive difference<o:p></o:p></span></b></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12.0pt;">You have to present where you sit within the
marketplace. How is your product or service different from the others out there
and why? Telling someone that you are the next Facebook or Instragram isn’t
really the best explanation of your positioning, and honestly, most people are
just going to roll their eyes and say, “Sure you are.” Instead, present the lay
of the land, demo your product, tell your customer stories, and focus on the
problem your product is addressing or solving. Be truthful with your plan! At
the end of the day, investors who want to invest in your business also want to
invest in you. So demonstrating your inspiration and ability to execute the
plan will help differentiate you from your competitors.<b> </b><a href="http://venturebeat.com/2014/12/10/are-you-funding-ready-top-5-tips-to-get-your-company-funding-fit/">Continue
reading…</a><o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-3226453888429735782014-12-18T16:32:00.002-08:002014-12-19T16:21:48.114-08:00Westward Group for Tax and Estate Planning Advisors Tokyo Paris Review: 5 Year-End Tax Tips for Investors<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
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<span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt;">On top
of holiday preparations and celebrations in December, there are some year-end
financial tasks that require attention. Many of those tasks on the financial
to-do list have a tax component – specifically, avoiding unnecessary taxes on
your investments, or worse, incurring a penalty.<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt;">Here
are some reminders of tax consequences to consider before the new year rolls
around:<o:p></o:p></span></div>
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<br /></div>
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<b><span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt;">1.Watch taxes on mutual funds.</span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt;"> Mutual fund
managers regularly sell securities to rebalance or accommodate <a href="http://money.usnews.com/money/personal-finance/mutual-funds/articles/2014/12/03/5-year-end-tax-tips-for-investors">shareholder
redemptions</a>. That creates capital gains for shareholders, even those with
an unrealized loss on their mutual fund investment. This is particularly true
for actively managed mutual funds, which have greater turnover than index
funds.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal">
<span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt; line-height: 115%;">But even if you are the owner of a <a href="http://westwardadvisors.com/">mutual fund</a> with overall gains, you may
have a tax consequence for gains that occurred before you purchased it.<o:p></o:p></span></div>
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<b><span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt;">2. Don’t forget about required minimum
distributions.</span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt;">
By April 15 of the year after you turn 70½, you are required by the Internal
Revenue Service to take a minimum distribution from qualified retirement plans,
such as a <a href="http://westwardadvisors.tumblr.com/">traditional individual
retirement account</a>.<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt;">However,
after that first year, your deadline for taking your distribution becomes Dec.
31. If you forget to take the distribution, you face an IRS penalty of 50
percent. In other words, if your distribution amount is $5,000, you would be
hit with a $2,500 penalty. That’s on top of the taxes you already pay on the
distribution.<o:p></o:p></span></div>
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<br /></div>
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<b><span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt;">3. Don’t let tax considerations get in the
way of your investing goals.</span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt;"> While it’s imperative to have a tax
strategy, always keep your investing objectives front and center. Jeanie Wyatt,
CEO and chief investment officer at South Texas Money Management, headquartered
in San Antonio, says decisions about when to buy or sell investments are often
obscured by worries about tax consequences.
<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt;">“In
those situations, where people don't sell because they are going to have a tax
cost, that can be a bad decision,” she says. “You really have to know that the
investment decision is No. 1 and the tax consideration is No. 2.”<o:p></o:p></span></div>
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<br /></div>
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<b><span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt;">4. Be cognizant of short-term capital gains
consequences.</span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt;">
A short-term capital gain is realized by the sale of a stock held for one year
or less. These gains are taxed at the same rate as an individual’s ordinary
income.<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt;">A
short-term gain can be reduced by a short-term loss. As much as $3,000 per year
can go toward reducing taxable income. Additional losses may be carried forward
into subsequent years to offset $3,000 in ordinary income or capital gains.<o:p></o:p></span></div>
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<br /></div>
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<b><span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt;">5. Plan for future tax increases.</span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 12.0pt;"> Having a strategy
for 2015 and beyond is crucial, says Beau Henderson, founder and CEO of the
RichLife Group in Gainesville, Georgia. “One of the thieves that can steal your
rich life is the real threat of future tax increases,” he says.<o:p></o:p></span></div>
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<span style="font-family: Tahoma, sans-serif; font-size: 12pt;"><br /></span></div>
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<span style="font-family: Tahoma, sans-serif; font-size: 12pt;">People
who have accumulated a sizable nest egg in their qualified retirement accounts
will likely face a hefty tax bill when they start taking distributions.
Henderson says effective planning today could potentially mean a lower tax bill
down the road. “What if instead of pulling money out at a 35 percent tax rate,
when you actually need to retire, it's taxed at 60 percent? That would affect
your plan,” he says.</span></div>
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Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com2tag:blogger.com,1999:blog-5090060340088760081.post-3983299683717538032014-12-17T17:15:00.000-08:002014-12-17T17:15:37.837-08:00Westward Group for Tax and Estate Planning Advisors Tokyo Paris Review on 8 End-of-Year Tax Tips You Won't Want to Miss<br /><br /><img src="http://i0.huffpost.com/gen/2293480/thumbs/n-TAX-TIPS-large570.jpg" /><br /><br />2014 is quickly coming to a close. Before ringing in the New Year, take December to round out <a href="http://www.huffingtonpost.com/lisa-lewis/8-endofyear-tax-tips-you-_b_6174268.html">some quick and easy tips to lower your tax obligations</a> and even boost your tax refund. And who doesn’t want more money?<br /><br />So before we put a cork in this year, get your tax to-do list ready — and let’s check off these 8 items.<br /><br /><b>1. Start gathering forms, and receipts. </b>Start gathering receipts for deductible expenses and sources of income for the past year so you don’t leave anything out when you sit down and prepare your taxes. Pro tip: Understand which tax forms you will need, and keep a checklist to keep everything straight. This will help keep your sanity when you sit down to file your taxes, trust me.<br /><br /><b>2. Donate to charity. </b>Take December to weed through your clothes, furniture, and household goods to give back to a qualified charitable organization. Donating to those in need will leave you with a warm feeling inside, as well as a possible deduction. For non-cash and monetary donations, make sure you keep your receipts from the charitable organizations. Mileage (14 cents of every mile) driven to charitable service is also tax deductible. TurboTax Its Deductible will accurately value and track your yearly-donated goods. Make these donations count on your taxes by donating by December 31st. Pro Tip: If you make a donation by credit card, you do not have to pay it off in 2014 to receive the tax deduction.<br /><br /><b>3. Push back your bonus to January. </b>You have put in some hard work this year and now comes time for your holiday bonus! Taxes will be applied here, and this extra income may bump you to a higher tax bracket. Pro Tip: If you do not need the money immediately and your boss is willing to pay it in January — it might be worth pushing your bonus off a year. You still get to enjoy your rewards come the New Year, but do not have to pay the additional tax until April 2016.<br /><br /><b>4. Look to the future and max out your retirement savings.</b> In some situations, employers will allow you to play catch-up on your 401(k) or 403(b) plans. Check to see if you can increase your deduction on your last paychecks of the year. Putting money towards retirement will help boost your tax refund and wealth. Pro Tip: If you have not started a retirement fund at your job, start one! It is a great way to reduce your taxable income and possibly increase your tax refund.<br /><br /><b>5. Get Educated.</b> School is in session, and paying for next quarter’s tuition by December 31st may give you a valuable tax credit. Taking a college course can boost your tax refund by up to2,000 with the Lifetime Learning Credit. Pro Tip: Take a course to advance your career skills and better your chances for promotion, all while getting a tax credit.<br /><br /><b>6. Time to spend your FSA.</b> If you set aside a portion of your income for tax-free spending with a flexible spending account, then listen up. Unlike years past, the “use it or lose it” rule may not apply. If you have unused money in your FSA account on December 31st, you may be able to carry over up to500 into your 2015 FSA or your plan may allow qualified medical expenses to be paid with funds in the account within 2-1/2 months after the end of the plan year. Pro tip: If you have more than500 in your account come year-end, make sure you are caught up on all your doctor visits.<br /><br /><b>7. Tax advantage of credits & deductions up for vote this year</b>. Typically Congress votes to temporarily extend or pass expired or expiring tax credits and deductions. This year, expired tax extenders affecting teachers, students, homeowners, and energy efficient homes are up for vote. Congress has not come to a decision yet - but listens in for what they decide. Pro Tip: If Congress makes a final decision by December 31 and passes the expired tax provisions check and see if you can take advantage of any expired tax credits or deductions if they are extended!<br /><br /><b>8. Project your 2015 finances. </b>Are you applying for a subsidy or discounted insurance in the Healthcare Marketplace this open enrollment season? If so, you will have to project your 2015 household income and family size when you apply. Start looking into any changes that may take place in 2015 (growing your family, job promotion, heading into retirement, etc.). These changes may affect the amount of subsidy you are given to help you pay for insurance. Pro Tip: If you received a subsidy for 2014 insurance and experienced changes in salary and family size, notify the Marketplace before year-end. You may get a bigger discount or premium tax credit to help pay for your coverage or may get an adjustment so you don’t have to pay back some of the premium tax credit.<br /><br /><b><a href="http://westwardadvisors.com/">Westward Group for Tax and Estate Planning Advisors Tokyo Paris Review</a> </b>has designed and implemented insurance plans for hundreds of high net worth Canadians. We developed The LifeStep Process® as a way for accountants and lawyers to help their clients grow and protect wealth, and manage the estate in the most tax efficient way possible. For more details follow us at <a href="https://www.pinterest.com/monickatwell/westward-advisors-group/">Pinterest Page</a>and <a href="https://foursquare.com/v/westward-advisors-group/52b79b3c11d24ad48e57e9c6">Foursquare Page</a>.Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-27268174954879205812014-12-16T15:48:00.002-08:002014-12-16T15:48:41.311-08:00Westward Group for Tax and Estate Planning Advisors Tokyo Paris Review: 9 Last-Minute Tax Strategies for 2014<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;"><span style="font-size: x-small;">It’s
that time again, as we close out another year, to review some end-of-the-year
tax tips that could still be used to save you money. As you likely already
know, many of the <a href="http://money.usnews.com/money/blogs/the-smarter-mutual-fund-investor/2014/12/08/9-last-minute-tax-strategies-for-2014">tax
strategies</a> you can employ must be done in the same tax year as they will be
claimed. That is exactly why, with some of these strategies, you must act
quickly to get your benefit. And remember, you should always consult your tax,
legal and <a href="http://westwardadvisors.com/">financial</a> advisor before
making these decisions. But this list gives you a good place to start.<o:p></o:p></span></span></div>
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<br /></div>
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<span style="font-size: x-small;"><b><span style="font-family: Georgia, serif;">1. Offset gains with
losses.</span></b><span style="font-family: Georgia, serif;">
Look at your portfolio and see if you have gains and losses. If you have both,
you can write off the gains against the losses. If you have more losses than
gains, you can also take up to $3,000 of losses against ordinary income. To
take a loss for 2014, you must claim the loss by selling the asset or
investment that contains the loss this year. You can also take additional
losses and "carry them forward" to next year. If you do decide to
sell an investment at a loss, and plan on buying it back after you claim the
loss, make sure you wait at least 30 days to repurchase it. Otherwise, you will
have violated the wash-sale rules, which can penalize you for buying it back
too soon.<o:p></o:p></span></span></div>
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<br /></div>
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<span style="font-size: x-small;"><b><span style="font-family: Georgia, serif;">2. Fund your individual
retirement accounts, Roth IRAs, 401(k)s, 403(b)s, Simplified Employee Pension
Plans, etc.</span></b><span style="font-family: Georgia, serif;">
Most retirement plans require you fund that investment in the year you take the
write-off, but not all. With respect to IRAs and Roth IRAs, you can wait until
tax filing time, plus extensions. However, I don’t recommend this. I would
rather you fund your plans in the year you are claiming the contribution.Employer
plans do require you to contribute into the plan (employee contributions),
however, during that tax year. So, if you have not fully funded your company
retirement plan, get on the ball and talk to your human resources department to
see how you can put more money in by year end. Remember, you can add $17,500 to
your 401(k), and an additional $5,500 if you are over age 50.<o:p></o:p></span></span></div>
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<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;"><span style="font-size: x-small;">Also,
the rules are changing for 2015, so you should change your contribution amount
accordingly. IRA and Roth IRA contributions remain the same at $5,500 and
$1,000 catch-up for those over age 50. The 401(k) contribution limits increase
to $18,000 and a $6,000 catch-up for those over age 50. If you are having funds
automatically invested into your retirement plans, update those automatic
investments to match the new limits.<o:p></o:p></span></span></div>
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<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;"><span style="font-size: x-small;">Also,
consider donating highly appreciated stock to your charity, rather than cash.
By doing this, you get a double benefit. First, you get to write off the value
of the security, and second, you don’t have to sell the stock or other
investment yourself (and realize the gain), before you donate it.<o:p></o:p></span></span></div>
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<br /></div>
<div class="MsoNoSpacing">
<span style="font-size: x-small;"><b><span style="font-family: Georgia, serif;">3. Take out your minimum
required distribution. </span></b><span style="font-family: Georgia, serif;">If you are over the age of 701/2, you must take money out of
your qualified plans (if you are not working or contributing to that plan) and
IRAs. The amount you have to take out is 3.65 percent in the first year. Each
year you get older, the percentage you must take out increases. But the real
kicker here is if you do not take out the money, you will have to pay a 50
percent penalty on the amount you did not withdraw. That’s a hefty penalty (the
largest the Internal Revenue Service assesses.) Make sure you get this one
right every year.<o:p></o:p></span></span></div>
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<br /></div>
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<span style="font-size: x-small;"><b><span style="font-family: Georgia, serif;">4. Give $14,000 to
anyone you like.</span></b><span style="font-family: Georgia, serif;">
The annual (2014) gift amount you can give to someone without having to fill
out a gift tax return is $14,000, but you must complete the gift (give it to
the person, entity or charity) by the end of the year.<o:p></o:p></span></span></div>
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<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;"><span style="font-size: x-small;">Many
investors would say, "Why on earth would I want to give that kind of money
to anyone?" But the reality is, some older adults have more than enough
assets in their portfolio that they want to give it away early (before they die
so the kids or charities get the benefit now). But there is still a limit per
year with respect to how much you can actually give away. Again, that amount is
$14,000 for 2014. If you are married, you and your spouse can both gift
$14,000, making your total contribution $28,000 per person.<o:p></o:p></span></span></div>
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<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;"><span style="font-size: x-small;">Sometimes
gifting appreciated stock to a family member in a low tax bracket can also be
helpful in reducing your overall tax liability.<o:p></o:p></span></span></div>
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<br /></div>
<div class="MsoNoSpacing">
<span style="font-size: x-small;"><b><span style="font-family: Georgia, serif;">5. Use your flex
spending dollars.</span></b><span style="font-family: Georgia, serif;">
Flex spending plans give you the ability to put money away pretax, to be used
for qualified medical and dental expenses. But those dollars must be used in
the current tax year. The IRS will now let you roll up to $500 to the next tax
year (provided the plan allows for it). But for any amount over the $500, it is
“use it or lose it.”<o:p></o:p></span></span></div>
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<br /></div>
<div class="MsoNoSpacing">
<span style="font-size: x-small;"><b><span style="font-family: Georgia, serif;">6. Take your expenses
this year.</span></b><span style="font-family: Georgia, serif;">
If you are a business owner or self-employed, and can deduct expenses, pay
expenses now versus in 2015. This will lower your overall income, and thus your
tax as well. Some of the expenses you may consider paying early are interest,
rent, medical insurance premiums, vendor expenses, etc.<o:p></o:p></span></span></div>
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<br /></div>
<div class="MsoNoSpacing">
<span style="font-size: x-small;"><b><span style="font-family: Georgia, serif;">7. Pay your January
mortgage payment in December</span></b><span style="font-family: Georgia, serif;">. If you pay your January mortgage payment
early, you are essentially paying the January interest in December, which will
allow you to write it off now, versus a year from now. This may not help you
significantly, but every little bit counts.<o:p></o:p></span></span></div>
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<br /></div>
<div class="MsoNoSpacing">
<span style="font-size: x-small;"><b><span style="font-family: Georgia, serif;">8. Combine Schedule A
deductions.</span></b><span style="font-family: Georgia, serif;">
Many Schedule A deductions have thresholds you must meet before you can take
that specific deduction. For example, the medical/dental deduction must reach
10 percent of adjusted gross income. That means you must meet the 10 percent
before you can deduct anything. The miscellaneous expense deduction must be 2
percent of adjusted gross income. So make sure you are able to combine all of
the proper expenses to be able to meet that specific deduction’s minimum.<o:p></o:p></span></span></div>
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<br /></div>
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<span style="font-size: x-small;"><b><span style="font-family: Georgia, serif;">9. Do a mock tax return.
</span></b><span style="font-family: Georgia, serif;">Using
tax software, such as TurboTax or H&R Block software, run a mock tax
return, so that you know your potential tax liability. This can help with
knowing how much of a deduction you can take for IRA contributions, the effects
of a Roth conversion, if you are subject to the Alternative Minimum Tax, the
potential tax bill you may have to pay by April 15 and a number of other
important things you may want or need to know early.<o:p></o:p></span></span></div>
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<span style="font-family: Georgia, serif;"><span style="font-size: x-small;">Not
all of these things will apply to everyone. As a matter of fact, only a few of
these strategies apply to most people. The question you need to answer is,
"Which ones apply to me?" So read over this list several times, and
figure out which tips will give you the best benefits for your 2014 <a href="http://westwardadvisors.tumblr.com/">taxes</a>. Then implement those
tips.<o:p></o:p></span></span></div>
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<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;"><span style="font-size: x-small;">If
all of this information seems overwhelming, as it does for most people, then
work with someone who can help you. This could be your tax accountant,
investment advisor or financial planner. But whatever you do, make sure you do
the planning. It may actually save you some real money.<o:p></o:p></span></span></div>
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Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-75517759068785903212014-12-11T15:46:00.002-08:002014-12-11T15:49:14.600-08:00Westward Group for Tax and Estate Planning Advisors Tokyo Paris Review: 4 tips for year-end charitable tax deductions<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;">As
year-end approaches, many taxpayers consider last minute donations; merging
their desire to do good with their desire to lower their tax burden.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;">Generally,
if you itemize your <a href="http://www.marketwatch.com/story/4-tips-for-year-end-charitable-tax-deductions-2014-12-10">deductions,</a>
making charitable contributions can decrease your tax bill. Here are some
important rules to know.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNoSpacing">
<b><span style="font-family: Georgia, serif;">Charitable contributions
of clothing and household items<o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;">Clothing
and household items donated to charity generally must be in good used
condition, or better, to be <a href="http://westwardadvisors.com/">tax</a>-deductible.
If the value is greater than $500, you don't need to meet this requirement if
you include a qualified appraisal of the property.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;">Get
a receipt that includes the name of the charity, the date of the contribution,
and a reasonably detailed description of the donation for all donations of
property. If a donation is left at a charity's unattended drop site, keep a
written record of the donation that includes this information. Records should include
the fair market value of the property at the time of the donation and the
method used to determine that value. Additional rules apply for a contribution
of $250 or more.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<b><span style="font-family: Georgia, serif;">Monetary donations<o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;">Donations
of money include those made in cash or by check, electronic funds transfer,
credit card or payroll deduction.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;">A
taxpayer must have a bank record or a written statement from the charity to
deduct any donation of money, regardless of amount. The record must show the
name of the charity and the date and amount of the contribution. Bank records
include canceled checks, and bank, credit union and credit card statements.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;">Bank
or credit union statements should show the name of the charity, the date and
the amount paid. Credit card statements should show the name of the charity,
the date, and the transaction posting date.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;">For
payroll deductions, the taxpayer should retain a pay stub, a W-2 or other
document from the employer showing the total amount withheld for charity.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;">If
you donate cash or property worth more than $250, you must get a written
receipt from the charity and an acknowledgment which includes a description of
the items contributed. One statement containing all of the required information
may meet both requirements.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<b><span style="font-family: Georgia, serif;">Eligible organizations<o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;">Only
donations to eligible organizations are tax-deductible. The IRS has an online
search tool which lists most organizations that are eligible to receive
deductible contributions. Religious institutions and government agencies are
generally eligible even if they are not listed in the IRS database.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<b><span style="font-family: Georgia, serif;">Tax reporting<o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;">Contributions
are deductible in the year made. That means donations charged to a credit card
before the end of 2014 are deductible in 2014, even if the credit card bill
isn't paid until 2015. Also, checks <a href="http://westwardadvisors.blogspot.com/">insurance</a> mailed on or before
Dec. 31, 2014 are deductible for 2014.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;">Individual
taxpayers must itemize their deductions on Schedule A to claim deductions for
charitable contributions. If the taxpayer chooses the standard deduction, they
cannot claim a tax deduction for charitable gifts. A taxpayer will have a tax savings
only if the total itemized deductions exceed the standard deduction.</span></div>
<br />
<div class="MsoNoSpacing">
<span style="font-family: Georgia, serif;">Form
8323 is required if the taxpayer's total noncash gifts exceed $500. If a
taxpayer donates an automobile, boat, or airplane with a value greater than
$500, the amount of the deduction will usually be the amount received when the
property is sold by the charity and the charity is required to provide Form
1098-C to the donor.<span style="font-size: 13pt;"><o:p></o:p></span></span></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-52173940983572965122014-05-16T17:47:00.002-07:002014-05-16T17:50:41.535-07:00Estate Planning: 5 Tips to Stay Ahead<div class="MsoNormal" style="text-align: justify;">
<a href="http://westwardadvisors.com/">Westward Group</a> for Tax and Estate
Planning Advisors Tokyo Tips – MIAMI – If you haven’t changed your approach to <a href="https://foursquare.com/v/westward-advisors-group/52b79b3c11d24ad48e57e9c6">estate</a>
<a href="http://www.scribd.com/collections/4410650/Westward-Advisors-Group">planning</a>
recently, you should.<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
“The status quo is stupid,” said
John Scroggin of Scroggin & Co. at the recent FPA Retreat here. “Estate
planning is a constantly changing environment.”<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Click <a href="http://www.financial-planning.com/news/estate_planning/estate-planning-john-scroggin-five-tips-to-stay-ahead-2689151-1.html">here</a> to read the full content of this article.</div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-18486578553500425092014-05-15T17:48:00.001-07:002014-05-15T17:52:04.614-07:00Investors increasing allocations of alternative assets<div class="MsoNormal" style="text-align: justify;">
<a href="http://westwardadvisors.com/">Westward Group</a> for Tax and Estate
Planning Advisors Tokyo Tips – International stocks make up the most popular
mutual fund flows by asset class, according to new research.<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgf_Edt_P9OSE7K_Das28KXFU3cOvHMbWoJn0bJfRqLb0PEoWEyrqItthFvjhhlA8SQG0hazwd5DyKX8_yA3LKhS-_HVvqqweIQofF19umhOSLdaDG7o6dYDtb6UnpYKUWUoz9W44qL7bIu/s1600/image.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgf_Edt_P9OSE7K_Das28KXFU3cOvHMbWoJn0bJfRqLb0PEoWEyrqItthFvjhhlA8SQG0hazwd5DyKX8_yA3LKhS-_HVvqqweIQofF19umhOSLdaDG7o6dYDtb6UnpYKUWUoz9W44qL7bIu/s1600/image.jpg" height="266" width="400" /></a></div>
<div class="MsoNormal" style="text-align: justify;">
Cerulli Associates discloses this
finding in “The Cerulli Edge: U.S. Asset Management.” Focusing at length on
alternative investments, the report also offers insights into fixed <a href="http://www.pinterest.com/monickatwell/westward-advisors-group/">income</a>,
private equity, customization and organizational alignment to enhance
distributor relationships, <a href="https://plus.google.com/116817966516783482962/posts">marketing</a> and
sales plans.</div>
<div class="MsoNormal" style="text-align: justify;">
<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
For the trailing 12 months ended
February 2014, the survey finds mutual fund flows of international stocks
constituted $142.2 billion, a total that significantly outstrips other asset
classes. The next three largest asset classes for the prior 12 months included:<br />
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
</div>
<ul>
<li>Balanced funds ($94 billion);</li>
<li>U.S. stock ($60.1 billion); and</li>
<li>Alternatives ($41.3 billion).</li>
</ul>
<div>
<br /></div>
<span style="text-align: justify;">“[P]ortfolio managers have tilted
away from traditional domestic core equity and fixed income,” says Cerulli
Director Cindy Zarker. “As economic signs of recovery heightened concerns of rising
interest rates, many managers presented institutional and retail investors with
investment options to hedge this risk.”</span><br />
<div class="MsoNormal" style="text-align: justify;">
<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
The report adds most
institutional investors intend to maintain or increase their alternative asset
allocations in 2014. Among the target sectors within this asset class are
private equity, hedge funds, real estate and infrastructure.<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
The heightened focus on
alternative investments has been an ongoing theme in recent months. Findings
recently unveiled in “Investing Outside the Box,” a study on trends in
nontraditional investing from MainStay Investments (a New York Life company and
Barron’s Top Fund Family) reveal that high net worth investors on average have
22 percent of their portfolios invested in alternatives. One quarter of these
investors (26 percent) see their exposure to alternatives increasing over the
next five years by an average of 2.9 percentage points. Another 66 percent
believe their level of exposure will remain the same.<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
And as reported by Cerulli last
month in the “Cerulli Edge: Institutional Edition,” international equities
remain the predominant focus of all new products under consideration or
development (24.1 percent), followed by global equities (14.9 percent), world
bonds (13.5 percent) and asset allocation/global tactical asset allocation
strategies (10.6 percent).<o:p></o:p></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-47475950636882298252014-05-14T18:00:00.001-07:002014-05-14T18:22:04.727-07:00The Morning Ledger: R&D Tax Credit Hangs in the Balance<div class="MsoNormal" style="text-align: justify;">
<a href="http://westwardadvisors.com/">Westward Group</a> for Tax and Estate
Planning Advisors Tokyo Tips – The U.S. House of Representatives voted last
week to make permanent a corporate <a href="http://westwardadvisors.blogspot.com/">tax</a> credit for <a href="http://westwardadvisor.livejournal.com/">research</a> and development
that expired at the end of last year, but its outlook remains far from certain,
CFOJ’s Maxwell Murphy and Emily Chasan report. President Obama has threatened a
veto and the Senate is taking up a competing measure that would extend the
credit by only two years.<o:p></o:p></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-60924669137866477782014-05-13T18:27:00.000-07:002014-05-13T18:33:38.450-07:005 Tips Before You Leave Your Kids an Inheritance<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;"><a href="http://westwardadvisors.com/"><span style="text-decoration: none; text-underline: none;">Westward Group</span></a> for Tax and Estate Planning
Advisors Tokyo Tips - If you are a parent who worries about what your wealth
will do to your children, you are not alone. Many clients want to leave money
to their kids, but they are concerned that their children are ill-equipped to
handle sudden wealth. Some worry that by providing too much <a href="https://www.facebook.com/pages/Westward-Advisors-Group/400137506784910">money</a>
that it will rob their children of the ambition and hard work that it took for
them to amass the wealth. And it’s not just parents who worry. At least one
beneficiary has reservations.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;">CNN news-show host Anderson
Cooper is the son of Gloria Vanderbilt — a successful fashion and interior
designer and daughter to the Vanderbilt railroad and shipping empire who is
believed to be worth $200 million. Is Anderson chomping at the bit for an
inheritance? No. Here is what Anderson said recently in an interview with
Howard Stern:</span><br />
<span style="font-family: Times, Times New Roman, serif;"><br /></span>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5N8jE8EL7K6k24VzFKyrkAlSCYZieJSFij_Q06fiB6k2p0uCwGeO9B3arrtAAV1AqZeb525h-PoXrToTYTNYp0N0F4VhbqlTxl2mIiaUxG1CyDqZtq6fffJxA0l_5eiHpI8krscxqasDx/s1600/Numbers-and-Finances-Small.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5N8jE8EL7K6k24VzFKyrkAlSCYZieJSFij_Q06fiB6k2p0uCwGeO9B3arrtAAV1AqZeb525h-PoXrToTYTNYp0N0F4VhbqlTxl2mIiaUxG1CyDqZtq6fffJxA0l_5eiHpI8krscxqasDx/s1600/Numbers-and-Finances-Small.jpg" height="213" width="320" /></a></div>
<div class="separator" style="clear: both; text-align: center;">
<br /></div>
</div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;">“I don’t believe in inheriting
money,” he said. “I think it’s an initiative sucker. I think it’s a curse, ”
Cooper went on to say. “Who has inherited a lot of money that has gone on to do
things in their own life?” When Stern reminded him that his mother did this
Anderson responded, “I think that’s an anomaly.”<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;">What is your view of inherited
money? Is it an “initiative sucker” or can it be used to create a better and
more fulfilled life? In my sudden wealth management firm I’ve found that the
answer is a resounding YES to both! Yes
it can cause some to lose their drive and ambition, but with the proper work
and structure, those who inherit can use the money as a tool to create meaningful
lives of their own. But for many parents who are not convinced their children
are ready to handle wealth, they are not idly sitting by hoping their children
have a sudden flash of <a href="http://westwardadvisors.tumblr.com/">financial</a>
acumen. No, these parents are taking matters into their own hands.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;">If you are concerned about gifting
or leaving your children an inheritance, consider these popular strategies:<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;"><b>1. Give your kids a financial test.</b> Each person can gift up to
$14,000 (in 2014) per year to as many people as they wish without any gift tax
consequence. If you are married, both you and your spouse can give $28,000 per
person. Parents are gifting their children money without any restrictions or
rules and then sitting back and watching what happens. How will your children
handle a $5 million inheritance? Why don’t you see what they do with $20,000
first? Do they save it? Do they ask for help? Do they pay off debt? Do they
blow it in Vegas?<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;"><b>2. Use incentive trusts.</b> The fear of many parents (and apparently
Anderson Cooper) is that too much money can squash ambition and drive. The
image that keeps many affluent up at night is the idea that their kids will be
robbed of zeal to make an impact – this same zeal and inner drive that pushed
them to make their own mark on the world. The solution for many parents is to
use incentives within a trust rather than leaving a large inheritance outright.
The incentives can be as creative as you can imagine. For example, a common
incentive – euphemistically called an “investment banker clause” – calls for
trust distributions that match the child’s income. If Suzie makes $75,000 from
her job, the trust will distribute to her $75,000 each year. If her younger
brother Johnny spends too much time playing Xbox and only makes $22,000 a year,
the trust will distribute just $22,000 to him. The built-in incentive with this
clause is, of course, to make money. But what if Suzie wants to join the Peace
Corps? You can add language that will ensure distributions if your child is
involved in a non-profit. Again, the sky is the limit when it comes to drafting
who gets what and when. Newport Beach estate planning attorney Cheryl Barrett,
says “I often build educational incentives in parents’ and grandparents’ trusts
that are designed to reward the beneficiaries’ educational accomplishments.”
For example, the trustee might be directed to disburse $10,000 upon attainment
of a Bachelor’s degree and $20,000 upon attainment of a Master’s or Doctorate
degree. While Barrett acknowledges that a degree is not a guarantee of a
beneficiary’s personal success, she states, “The pursuit of it requires vision,
goal setting, and engagement with other motivated individuals, all of which
enhance a beneficiary’s likelihood of success.”<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;"><b>3. Tie distributions to ages and events.</b> Think back to when you
were 20 years old. Would you have been emotionally and intellectually mature
enough to handle a large inheritance? Many parents create their trust so that
their kids get a small amount of money each year and larger amounts when they
reach certain ages (e.g., 30, 35, 40). They will also allow for trust
distributions to pay for college expenses, weddings, or house down payments. A
popular strategy is to distribute income from the trust assets when the kids
are young and then to distribute principal when they are older and, ideally,
have a career and greater financial sophistication.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;"><b>4. Get your kids involved in a personal foundation.</b> If you have
children still living with you, creating a personal foundation can be a
wonderful opportunity to support causes you believe in, get a nice tax deduction,
and more importantly to our point, teach kids about money. One of my clients
sold his business and overnight was worth more than $25 million. He and his
wife had three young kids and they were worried that the dad’s strong work
ethic would be lost on the kids now that they could have anything they wanted.
We created a personal foundation, and because it was required to disburse 5% of
the foundation’s balance each year, we gave each family member the
responsibility of researching a cause and donating 1%. This got each of the
kids excited about their own cause and seeing how their money could have an
impact. It was a great learning experience for the whole family.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;"><b>5. Give without giving cash.</b> There is another win-win alternative
to outright gifting. Jeff Lewis, an estate planning attorney in Los Angeles
likes this approach. Lewis says, “Many of my clients have started using their
annual federal gift exclusion ($14,000 as of this writing) to directly pay down
either an adult child’s mortgage principal or school loans. This will make a
significant difference to the child’s future financial position, while not
putting that amount of cash in their hands today.” Many parents realize that
mortgages and school loans are substantially larger now than in their time, so
helping to reduce that huge burden is a rewarding proposition for both
generations. Lewis continues, “Be sure to check there are no pre-payment
penalties or other negative loan consequences.”<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Times, Times New Roman, serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
As a parent, you want what is
best for your kids. It’s natural and reasonable to worry how a large
inheritance will affect their drive and choices for life. With some planning,
money can be a tool that enriches their lives rather than an anchor that drags
them down. Consider the strategies above and talk to your financial advisor and
estate attorney for more ideas.<o:p></o:p></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-47786064702947121622014-05-02T16:58:00.001-07:002014-07-19T23:48:40.364-07:00Westward Group for Tax and Estate Planning Advisors Tokyo Tips: Is There Hope For Japan's Now Underperforming Stock Market?<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">“As
the sun sets on <a href="http://www.forbes.com/sites/stephenharner/2014/04/28/is-there-hope-for-japans-now-underperforming-stock-market/">Japan’s
powerful stock market</a> rally, investors might ask what could rekindle the
lost energy,” begins a Lex column in the April 20 <a href="http://www.pinterest.com/monickatwell/westward-advisors-group/">Financial</a> Times. What,
indeed?<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">The
Lex team reprise a rather tired “better corporate governance” theme. They
report that Japan’s Diet is likely this year to amend the Companies Act to push
companies to increase external directors and set up audit committees “more
typical of western companies.” More
usefully (see below) they note the January launch of “a new JPX-Nikkei 400
share index, comprising Japanese companies that combine higher returns on
equity and good corporate governance.”<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">To
the question where the Japan market’s mojo has gone, an analysis by Maeda
Masataka, a member Nihon Keizai Shimbun’s editorial board, published on April
23, is edifying, if not particularly reassuring. Maeda observes that one year
and five months the launch of “Abenomics,” the Japanese stock market seems to
have settled into a low trading volume funk, with no perceptible rallying
factor on the horizon.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">More
troubling and surprising, perhaps, Maeda notes that when exchange rate changes
are considered, even during the past 1.5 years returns from French and German
stocks exceeded those from Japanese equities, and on the April 22–the day
before President Obama touched down for a “state visit” in Tokyo–U.S. equity
market returns also pulled ahead of those of Japan.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">In
short, Prime Minister Abe’s message to the investing world that “Japan is back”
has become increasingly suspect, if not unbelievable.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">Maeda
writes that if we create an index putting a value of 100 on the level of the
Nikkei 225 stock average on November 13, 2012, the day before Abe’s
predecessor, Noda Yoshihiko, announced dissolution of the Diet lower house and
new general elections (i.e., the “pre-Abenomics” market level), by April 18,
2104 that index value would have risen to 167.60. By comparison, against the
same dates, the Germany’s DAX has risen to 184.61 and France’s CAC 40 has risen
to 181.70.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">The
DAX is calculated with dividends reinvested, a little discounting is
necessary. But the result for investors
and particularly Japanese investors (given the appreciation of the Euro vs. the
yen) is painfully apparent: Abenomics
notwithstanding, they would have done better investing in Europe.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">The
Dow Jones Industrial Average closed on April 17 at 16,408, which was 166.12 on
Maeda’s index, within a point of the Nikkei’s 167.60. (Actual Nikkei closing on the 18th was 14,388
yen. It closed today, April 28, at
14,288 yen.) Maeda’s prediction was that the Dow was set to outpace the Nikkei,
and he has been validated.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">What
has happened to the Tokyo market’s mojo?
Maeda suggests, first, that the <a href="https://www.youtube.com/watch?v=ZzTOwLH7m0c&feature=youtu.be">economics</a>
market’s rise was not unpinned by a positive reassessment of individual
companies’ management capability. Rather, it was the inverse affect of yen
depreciation. While buying stocks when export earnings were being buoyed by a
weakening yen made sense, the increase in reported earnings was not definitive
evidence of enhanced in corporate strength.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">Of
course, among the 3500 listed Japanese companies, there are many exceptionally
well-managed companies that did attract new investments. Maeda notes, however,
that during the 1980s, a time when Japanese companies were genuinely strong,
their stocks continued to rise even as the yen appreciated.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">“In
other words,” writes Maeda, now “unless we Japanese are selling our labor at a
discount, overall stock value will not rise. This is a big difference with
German stocks, which are rising despite a rise in the Euro. It shows that
Japan’s corporate revival is only half-finished.”<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">As
a second point, looking at relationships of the Dow and Nikkei averages, Maeda reckons
that short term foreign investors, and particularly hedge funds, were attracted
by the promise of Abenomics, and became big net buyers during its first year,
but that they have turned this year into net sellers.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">Foreign
investors have lost patience and been put off by what they see as gridlock in
delivering Abenomics’ “third arrow” growth strategy reforms. What these
investors are looking for is a “three set” menu of continued BOJ monetary
stimulus, a cut in the corporate<a href="http://westwardadvisors.com/"> tax</a>
rate, and a successful conclusion to the TPP trade talks.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">Maeda
observes that many, if not most, long term foreign institutional
investors–pension funds, mutual funds, and value investors–remained skeptical
toward Japanese equities and did not greatly increase their portfolio
allocations. He cites U.S. Treasury data showing that in September 2011
Japanese stocks made up 9.7% (USD 420 billion) of U.S. residents’ USD 4.32
trillion of foreign equities holdings. As at January 2104, Japanese equities
had increased to USD 590 billion, but U.S. holdings had increased to USD 6.31
trillion, so the percentage had fallen to 9.4%.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">Maeda
acknowledges that by October 2012, Japanese stock allocations in U.S.
portfolios were at a nadir, a mere 7.6% (USD 390 billion) of a total USD 5.13
trillion. In this sense, what happened since can be seen as a reversion to
mean, rather than buying into Abenomics by long term investors.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-63800696671277735562014-05-01T16:34:00.002-07:002014-07-19T23:10:21.740-07:00Westward Group for Tax and Estate Planning Advisors Tokyo Tips: Can the World Economy Break Its Addiction to Stimulus?<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;"><a href="http://www.businessweek.com/articles/2014-04-28/can-the-world-economy-break-its-addiction-to-stimulus">The
world economy is a stimulus addict</a>. This year it’s going cold turkey.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">In
China, keeping growth on track for the past five years has required ever larger
injections of credit. The ratio of private-sector debt to GDP pushed over 200
percent in the first quarter of 2014, up from about 125 percent at the end of
2008.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">That
presents China President Xi Jinping and Premier Li Keqiang with an unpalatable
choice. China’s new leaders could cap loans and face a sharp slowdown in
growth, or they could continue on the credit binge and risk a <a href="http://westwardadvisors.com/">finance</a> crisis. So far the choice has
been option No. 1.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<b><span style="font-family: 'Times New Roman', serif;">STORY: China
Pledges Major Stimulus Projects, Invites Private and Foreign Investors<o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">That’s
the right decision, but the consequences are still painful. New lending is
flatlining. Investment is fading. At 5.7 percent, annualized first quarter GDP
growth was well short of Premier Li’s 7.5 percent target for the year. With a
key gauge of factory activity pointing to contraction in April, the signs
heading into the second quarter are little better.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">In
Japan, the bursting of the credit bubble in 1989 left corporations saddled with
debt and unwilling to spend. To prevent a lost decade turning into a permanent
coma, the government was forced to rack up enormous debts. In 2013, an
Abenomics spending splurge to kick-start the economy added to the debt load.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">With
public debt at 237 percent of GDP, Japan’s Prime Minister Shinzo Abe faced a
choice no more palatable than that facing China’s leaders. Raising <a href="http://narzhuk.hatenablog.com/entry/2014/05/01/130503">taxes</a>
threatened to strangle the infant recovery in its cradle. Continuing to borrow
risked a sovereign debt crisis that would make Greece’s recent problems look
like the first act of a larger tragedy.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<b><span style="font-family: 'Times New Roman', serif;">STORY: With
Growth Slowing, Will China Launch a Stimulus?<o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">Abe’s
solution for 2014 is a compromise. A hike in the consumption taxes—the first
since 1997—will be offset by higher public spending. Even that threatens to
stop Japan’s recovery in its tracks. GDP in the world’s No. 3 economy is
expected to contract at a 3.4 percent annualized rate in the second quarter.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">Worse
could be to come. If Tokyo wants to avoid a debt apocalypse, a budget deficit
of more than 8 percent of GDP has to swing into surplus. That’s tough to do
without taking a serious chunk out of growth.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">In
the U.S., meanwhile, exiting an extraordinary period of monetary stimulus is
proving less easy than entering it did. The U.S. housing market—a key
contributor to the recovery—is hooked on low rates. Even a modest
percentage-point increase in mortgage costs in the past year has caused
tremors. New home sales fell to an 8-month low in March.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<b><span style="font-family: 'Times New Roman', serif;">STORY: Two
Papers That Could Persuade the Fed to Prolong Stimulus<o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">The
U.S. housing market is not the only one to suffer. With the cost of credit low,
emerging markets from South America to East Asia became accustomed to capital
inflows. In the years after the 2008 financial crisis, that buoyed stock prices
and fueled a boom in <a href="http://westwardadvisor.livejournal.com/">real estate</a>. As rates in the U.S. start to rise, emerging
markets have been roiled by sudden reversals in capital flows twice in the past
year.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: 'Times New Roman', serif;">Past
stimulus in the world’s three largest economies had a purpose. Massive loan
growth in China and close to zero rates in the U.S. eased the pain of the 2008
financial crisis. In Japan, the government had to keep borrowing to offset the
impact of corporate saving. Still, even well-intentioned stimulus can’t go on
forever. As policymakers in Beijing, Tokyo, and D.C. are discovering, breaking
the stimulus habit is tough to do.<o:p></o:p></span></div>
<br />
<div class="MsoNoSpacing">
<br /></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-73481830970819378032014-04-30T16:43:00.000-07:002014-07-19T01:35:10.796-07:00Westward Group for Tax and Estate Planning Advisors Tokyo Tips: Real Estate Purchases and The Various Taxes In Japan<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">I would like to summarize a basic point
for several times from this time <a href="https://foursquare.com/v/westward-advisors-group/52b79b3c11d24ad48e57e9c6">about taxes </a>which are charged to purchasing
real estate in Japan mainly for people overseas. There are various types of
purchasing real estate by foreigners in Japan. For example, foreigners who have
permanent residence in Japan, they purchase real estates as their residencies.
Also, improvement of the Japanese economy is recently seen due to a
depreciation of the yen and rising of stock prices. And, the Tokyo Olympics
will be held in 2020. These cases cause land values to be raised in urban
areas, and some foreigners consider purchasing real estate such as condominiums
or apartment houses for purposes as their investments.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">However, on the other hand, there is a
characteristic of having many <a href="http://westwardadvisors.com/">taxes</a>
being related to real estate in Japan and said as “real estate is the mass of
tax”. Therefore, it is important to understand about tax management in order to
purchase and manage real estate without worries.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">So, basic information about real estate
and the taxes in Japan will be summarized several times. I am happy for
foreigners to understand about <a href="http://tokyopremiumrealestate.com/archives/492">real estate taxes in
Japan</a> in this series starting at this time.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">Of course, as this is basic information
about real estate taxes in Japan, it is useful to read this for Japanese people
who are interested in real estate taxes also. At first, a tax which is occurred
at the time of a real estate purchase is described.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">3
types of necessary taxes of a real estate purchase in Japan<o:p></o:p></span></b></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">There are basically 3 types of taxes at
the time of a real estate purchase in Japan. They are real estate acquisition
tax, stamp duty, and registration license tax. The real estate acquisition tax
is duty. And stamp duty and registration license tax do not always occur
legally. In terms of whether a legal obligation, there are two groups of real
estate acquisition tax, and stamp duty and registration license tax. However,
in order to have legal protection about real estate that has been purchased or
traded, stamp duty and registration license tax are essentially generated
virtually. After all, 3 types of taxes will be occurred for a real estate
purchase. So, what are the 3 taxes specifically?<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;"><a href="https://www.diigo.com/item/note/4rbqu/1h9x">Real Estate</a> Acquisition
Tax<o:p></o:p></span></b></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">At first, a real estate acquisition tax
will be charged for a real estate acquisition. The real estate acquisition tax
is charged as a legal obligation for a real estate acquisition, and foreigners
are necessarily obligated to pay. The real estate acquisition tax is calculated
by a formula as [tax base x tax rate].<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">The base tax is specifically an amount
of fixed assets accounting records by being entered in the Tax Administration
of Japan. (However, it is the amount multiplied by the 1/2 of the fixed assets
accounting records regarding residential land [a tax reduction step until March
31, 2015].)<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">The tax rate is three-100ths (that is 3
percent) in the case of housing and land, and four-100ths (that is 4 percent)
in other cases. This is also the tax reduction step until March 31, 2015.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">Although the real estate acquisition tax
is the case in which taxing by seeking ability to pay for a real estate
acquisition, some tax reduction steps are also the features for residential
cases. Having housings are relatively tolerant in Japan, and there are various tax
reduction steps. Because to the real estate acquisition tax is never avoided
for a real estate acquisition, it is important to be ready for the tax payment
at the purchase.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">Stamp
Duty<o:p></o:p></span></b></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">A stamp is seemingly something like a
sticker. The stamp duty is the tax which relates to the documents of contracts
or agreements being generated at the time of real estate purchase. The paper
documents have also taxes focusing on the importance in papers socially. The
stamp duty has a structure which proves to perform the tax liability by
affixing a purchased stamp on a paper document for creating an agreement or a
contract of 10,000 yen or more. Therefore, for example, the stamp of 15,000 yen
needs to be purchased and affixed for a document in case of a real estate
purchase in the amount of 30,000,000 yen.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">By the way, free agreement between
parties is very strongly guaranteed for a sales contract in Japan, and a public
regulation has less legal system. The trading process has generally less legal
system in a public regulation except certain farmland. Accordingly, a sales
contract for real estate is effective without creating and affixing a stamp on
a contract document. It never performs to be invalid by not creating or
affixing a stamp on a contract. Therefore, in an extreme case, an agreement or
a contract document by a verbal promise never have a stamp duty. This means
that the stamp duty is not legally obligated for a real estate trading
business.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
<div class="MsoNoSpacing" style="text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">However, it is unrealistic for a realtor
not to create a contract for a real estate business, and it causes tax evasion
by not affixing a stamp on a created contract. So, the stamp duty is
practically occurred in a process of a real estate trading business. Besides,
there is an approach to make one copy of a created contract, and record a tax
separately from the trading amount. This is an appropriate system.<o:p></o:p></span></div>
<br />
<div class="MsoNoSpacing" style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-60783626339802443872014-04-29T16:42:00.000-07:002014-07-14T16:21:46.131-07:00Westward Group for Tax and Estate Planning Advisors Tokyo Tips: BUYING GUIDE<div class="MsoNoSpacing">
<b><span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">Steps for
Purchasing Property in Japan<o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">1<b>. Finance</b><o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;"><a href="http://housingjapan.com/real-estate-tokyo/buying-guide/">Speak to your
bank about finance</a>. Housing Japan is
able to help with introductions to expatriate friendly lenders.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">2.
<b>Search<o:p></o:p></b></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">Get
to know the market. Spend time searching
the web-site and talking to your agent about properties. Look at the recent
sales and understand the values and relative prices of properties in your
target range.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">3.
<b>Inspections<o:p></o:p></b></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">The
more you see the better you will understand the market and the easier it will
be to make the decision to buy when you find the right property.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">4.
<b>Application<o:p></o:p></b></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">When
you find the right property submit an “application to purchase”. This is a non-binding written expression of
your interest to purchase the property at certain price. An application shows
the seller you are serious and will start the negotiation process.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">5<b>. Explanation of Important Matters</b><o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">Once
the price is agreed your agent will start the contract process. The agent is required to investigate the
details of the property and provide you with an “Explanation of Important
Matters”. This document defines all the
important terms of the contract. You
should read and fully understand this document before executing the contract.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">6.
<b>Executing the Contract<o:p></o:p></b></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">The
contract execution usually takes place at the agent’s offices and takes about 2
hours to complete. It is typical to pay
the owner a deposit of 10% or JPY 10 million at the time of the contract.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">7<b>. Loan Application<o:p></o:p></b></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">While
you may have pre-approval from a lender, once the contract is complete you can
make the formal loan application. It
usually takes a month to six weeks for final approval after which the final
closing date can be set. If you using <a href="http://westwardadvisors.com/">finance</a>,
the contract will have a clause saying that you are applying for a mortgage
from a particular bank with a proposed approval date. If, for some reason, the
mortgage is not approved the contract will be terminated at no cost.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">8.
<b>Final Settlement<o:p></o:p></b></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">The
final settlement usually takes place at the buyer’s bank and is handled by a
judicial scrivener. The buyer will transfer the remaining balance to the
sellers account and the title of the property will be transferred to the buyer.
On completion the seller delivers all the keys to the property and the transfer
of ownership is complete.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<b><span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">Summary of
Transaction Costs and <a href="https://tackk.com/xxvdhp">Taxes</a><o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">1.
<b>Acquisition Tax (</b></span><b><span style="font-family: "MS Gothic"; font-size: 14.0pt; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-hansi-font-family: "Times New Roman";">取得税</span></b><b><span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">)<o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">Buyers
of residential property are subject to one-time acquisition tax of 1.5% of the
government valuation of the land and 3% of the value of the building. The
government valuation is usually about 60-80% of the market price of the
property. This tax is paid to the local government and is usually due within
six month of the purchase.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">2.
<b>Registration Tax (</b></span><b><span style="font-family: "MS Gothic"; font-size: 14.0pt; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-hansi-font-family: "Times New Roman";">登録免許税</span></b><b><span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">)</span></b><span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;"><o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">The
transfer of a property incurs registration <a href="http://westwardadvisors.tumblr.com/">tax</a>.
Currently the tax is 2% of the government valuation of land and 1.3% of
the value of the building. Registration Tax is also payable on mortgages at a
rate of 0.4% of the loan amount.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">3.
<b>Stamp Duty (</b></span><b><span style="font-family: "MS Gothic"; font-size: 14.0pt; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-hansi-font-family: "Times New Roman";">印紙税</span></b><b><span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">)<o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">Stamp
duty is levied on the sale contract and mortgage agreement and varies on the
contract type and amount.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">4.
<b>Judicial Scrivener Fees (</b></span><b><span style="font-family: "MS Gothic"; font-size: 14.0pt; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-hansi-font-family: "Times New Roman";">司法書士手数料</span></b><b><span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">)<o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">The
Judicial Scrivener acts like a solicitor to settle and register the property
transaction. The fees vary depending on
the size and complexity of the transaction. As an indication, for a property of
¥100,000,000 the fee will be about ¥100,000<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">5.
<b>Agents Fees (</b></span><b><span style="font-family: "MS Gothic"; font-size: 14.0pt; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-hansi-font-family: "Times New Roman";">仲介手数料</span></b><b><span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">)<o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<br /></div>
<br />
<div class="MsoNoSpacing">
<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt;">Agent
fees are set at 3.15% of sale price + ¥63,000<o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-64704227610426342752014-04-28T17:13:00.002-07:002014-07-14T01:44:33.579-07:00Westward Group for Tax and Estate Planning Advisors Tokyo Tips: Property Taxes in Japan<div class="MsoNoSpacing">
<b><span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;"><a href="http://tokyo.angloinfo.com/information/money/general-taxes/property-taxes/">Property
Tax</a><o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;"><br /></span></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;">Property
tax (Kotei shisan zei) is raised at a municipal and prefectural level. Owners
of land, housing and other types of tangible and depreciable business assets
must pay a fixed asset property tax. Each prefecture decides the amount of
municipal tax to be paid - this is usually calculated on the assessed value of
the land or building. The rate for fixed asset property tax is 1.4 percent with
a further municipal city planning tax of 0.3 percent due on some properties.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;"><br /></span></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;">Where
the land is used for residential purposes, one third of the assessed value is
excluded from <a href="http://westwardadvisors.com/">tax</a>. Plots of land of
less than 200 square metres are <a href="https://www.facebook.com/pages/Westward-Advisors-Group/400137506784910">taxed</a> at a lower rate than larger land plots.
If the assessed value of the land is less than 300,000 yen, or 200,000 yen in
the case of a house, no fixed asset tax is due.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;"><br /></span></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;">Property
tax is levied on 1 January each year, and bills are sent out between April and
June. Payment can be made at a bank, post office or convenience store.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;"><br /></span></div>
<div class="MsoNoSpacing">
<b><span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;">Property
Acquisition Tax<o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;"><br /></span></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;">This
is a one-off tax payable on the purchase of a property. It is levied at
prefectural government level. The rate is four percent of the value of the
property and should be paid at the local tax office.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;"><br /></span></div>
<div class="MsoNoSpacing">
<b><span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;">Inheritance and
Gift Tax<o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;"><br /></span></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;">Inheritance
tax is payable on any property received as a bequest and should be declared
within ten months of the inheritance. Gift tax must be paid on any property
received as a gift. It should be declared between 1 February and 15 March of
the following year.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;"><br /></span></div>
<div class="MsoNoSpacing">
<b><span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;">Stamp Duty<o:p></o:p></span></b></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;"><br /></span></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;">In
Japan stamp duty (Inshi zei) is paid by the vendor of a property. It is levied
on written contracts and other legal documents and is paid in the form of a
fiscal/revenue stamp. The stamps needed for stamp duty can be purchased from
post offices. Stamp duty on documents can also be paid using the following
methods:<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;"><br /></span></div>
<div class="MsoNoSpacing" style="margin-left: .5in; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;">1.
<!--[endif]-->Take
the document to the tax office and pay for it there.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="margin-left: .5in; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;">2.
<!--[endif]-->Where
documents are produced every month or mass-produced at a certain time, the
number of documents can be declared and paid for using an assigned form.<o:p></o:p></span></div>
<div class="MsoNoSpacing" style="margin-left: .5in; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;">3.
<!--[endif]-->Use
a bank deposit book to pay for a year from 1 April to 31 March. A penalty tax
is not charged.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;"><br /></span></div>
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;"><br /></span>
<br />
<div class="MsoNoSpacing">
<span style="font-family: Georgia, Times New Roman, serif; font-size: x-small;">A
penalty tax is charged when the stamp duty is not paid on the day on which a
document is produced. Usually the penalty is three times the stamp duty owed
(minimum tax is 1,000 yen).</span><span style="font-family: Times New Roman, serif; font-size: 14pt;"><o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-4793970125123483952014-04-25T18:22:00.000-07:002014-04-25T18:22:54.893-07:00Westward Group for Tax and Estate Planning Advisors Tokyo News: Discuss Your Financial Planner<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><a href="http://www.forbes.com/sites/carolynmcclanahan/2014/04/21/why-you-should-discuss-health-with-your-financial-planner/"><o:p></o:p></a></span></b></div>
<div class="MsoNormal">
<span class="MsoHyperlink"><b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><a href="http://www.forbes.com/sites/carolynmcclanahan/2014/04/21/why-you-should-discuss-health-with-your-financial-planner/">Why
You Should Discuss Health With Your Financial Planner</a></span></b></span><b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><o:p></o:p></span></b></div>
<div class="MsoNormal">
<span class="MsoHyperlink"><b><br /></b></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">A
common reason to visit a REAL financial planner is to make certain you save
enough for retirement and to decrease the chance you will run out of money once
your paychecks stop. The outcome depends highly on one factor many financial
planners are reluctant to discuss – <b><a href="http://westwardadvisors.com/">your health status</a></b>.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Understanding
your health is important because it allows us to estimate your longevity. And
estimating how long you will live is important because it determines how much
you need to save and how long your money is going to last. After years of
attending financial planning conferences, I’ve learned that financial planners
determine longevity in a number of ways that do not take health history into
account. Many are uncomfortable talking about health issues, and I dream of the
day all financial planners discuss your health status as easily as they discuss
your financial status. So what do financial planners do now to determine your
life expectancy?<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Age 100 for
everyone<o:p></o:p></span></b></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></b></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">A
speaker at one prominent conference instructed the attendees to use longevity
of age 100 for everyone. EVERYONE. I couldn’t help but question him, “Even if
your client is a 50 year old morbidly obese diabetic smoker with a history of
heart disease, you would use age 100?” He emphatically stood by his remark. You
never know the advances of medical science.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">What
is the problem with this approach? People with significant health problems may
be cajoled into over-saving for their future. Most likely, the client will see
this approach as misguided, and move to another planner. It is a disservice to
people who have minimal to no chance of reaching three figures in the realm of
age.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><a href="http://westwardadvisors.tumblr.com/">Standard life expectancy tables</a><o:p></o:p></span></b></div>
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Some
financial planners and financial planning software use a standard life
expectancy calculator that does not take any factors into account other than
your current age. For example, at age 49, there is a 50% chance I will live to
age 85.5. Given that I live a very healthy lifestyle, that number makes me a
little nervous. As a physician, I clearly know my life expectancy is easily age
100. However, if I have a history of heart disease and diabetes, and refuse to
put away the Fritos and beer, I would not believe I could live to age 85. Any
planner who tried to convince me otherwise and tried to make me save more has
just alienated me. Instead of saving more, I will buy expensive Blue Moon beer
instead of Pabst Blue Ribbon. Clearly, a standard life expectancy calculator is
inadequate.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">So what life
expectancy should you use?<o:p></o:p></span></b></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></b></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><a href="http://www.pinterest.com/monickatwell/westward-advisors-group">If you
live a totally healthy lifestyle</a></span></b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"> – normal weight, non-smoker, eat a healthy
diet and exercise regularly, age 100 is a good choice. There is no need to get
fancy. You and your planner can go from there.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">However,
if you have any health concerns, I recommend you discuss these with your
financial planner and have them incorporate a more refined life expectancy
calculator that takes into account lifestyle and family history. One calculator
I have used often is livingto100.com. This calculator asks in-depth questions
about lifestyle, family history, and various other factors that relate to
longevity. Putting in my “real” information, my life expectancy is age 102.
Changing my information to make me an overweight, beer guzzling, junk food
eater and smoker changed my life expectancy to age 63 <b><a href="http://westwardadvisors.blogspot.com/">– a significant
difference</a></b>.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Livingto100.com
is funded by ads, and has the regular mumbo jumbo about privacy, but in
reality, it doesn’t know whether the information I provided is real or not. The
last thing it knows about me is that I live hard and will die young. I’ll let
you know if I receive ads for Fritos or smoking cessation therapy.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Talk to your
planner about your health<o:p></o:p></span></b></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></b></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">As
you can glean from this short example, financial planners should know your
health history. In addition to longevity planning, a health history is
important for health care expense planning, long term care discussions,
disability insurance, estate planning, and the very important event of
preparing you for the curve balls health problems may cause.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<br />
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">A
bona-fide financial planner has a fiduciary duty to you – which means they are
legally bound to work in your best interest. If your financial planner is a
true fiduciary, health care discussions should be expected and welcome in
creating your financial plan. As more clients expect health care discussions as
an overall component of their financial plan, more financial planners will
provide plans that more closely mirror real life and we will all be better for
it.<o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-35654189365001584522014-04-24T18:11:00.000-07:002014-04-24T20:51:10.685-07:00Westward Group for Tax and Estate Planning Advisors Tokyo News: Scope for tighter regulation of investments<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><a href="http://www.scmp.com/business/money/investment-products/article/1493363/scope-seen-tighter-regulation-insurance-linked"><span style="font-weight: normal;"><o:p></o:p></span></a></span></b></div>
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<span class="MsoHyperlink"><b><br /></b></span></div>
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<span class="MsoHyperlink"><b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><a href="http://www.scmp.com/business/money/investment-products/article/1493363/scope-seen-tighter-regulation-insurance-linked">Scope
seen for tighter regulation of insurance-linked investments</a></span></b></span><b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><o:p></o:p></span></b></div>
<div class="MsoNormal">
<span class="MsoHyperlink"><b><br /></b></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Regulation
of the financial sector in Hong Kong does not properly protect retail investors
and should be tightened, said a lawmaker who oversaw the drafting of the
relevant legislation more than a decade ago.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Sin
Chung-kai, who was chairman of the legislative committee responsible for the
Securities and Futures Bill, published in late 2000 and enacted in 2003, says
the city's two-tier system of regulation has created gaps, leaving the
potential for unlicensed products to be sold undetected.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">"I
do not have any intention to escape my responsibilities. Supervising these
selling activities seems to be insufficient," Sin told the South China
Morning Post when asked about a clutch of mis-selling scandals that have
reverberated through the expatriate-focused wealth management industry in
recent years.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Some
US$10.3 billion in new money was invested in licensed funds last year,
according to data from the Hong Kong Investment Funds Association, which does
not track unlicensed funds.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Many
unlicensed funds are marketed directly to retail investors by firms that take
advantage of a two-tier regulatory structure that gives investors different
types of protection depending upon which regulator oversees their adviser and <b><a href="http://westwardadvisor.livejournal.com/">investment account<span style="font-weight: normal;">.</span></a></b><o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Hong
Kong's rules assign supervision of certain investment products, known as
investment-linked assurance schemes, to self-regulated insurance bodies with
limited authority, rather than the Securities and Futures Commission, which has
search and seizure powers.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">This
means the SFC's safeguards governing the sale of unlicensed funds to ordinary
retail investors do not apply to savers using an investment-linked assurance
schemes account, known as a portfolio bond.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Some
HK$7.4 billion was invested in single premiums, <b><a href="http://westwardadvisors.blogspot.com/">including portfolio
bonds</a></b>, in 2012, according to the Insurance Commissioner. Many investors
were unknowingly exposed to the risk of near total loss without any regulatory
defence to help them get back their cash.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">One
such example is the collapse last year of Australian fund house LM Investment
Management, which had a reported A$3 billion (HK$21.7 billion) in assets before
its implosion. Its flagship Managed Performance Fund is now valued at 5
Australian cents on the dollar. The firm is under investigation as Australian
authorities work out what happened.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">LM
products were sold in Hong Kong via investment-linked vehicles, exempting them
from the regulatory scrutiny they would have received if they were marketed to
ordinary investors.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">SFC
rules require Hong Kong resident investors to sign a form and prove they have
HK$8 million in liquid assets before buying such a fund. These rules do not
apply to portfolio bonds.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">ILAS
products combine insurance, investment, and <b><a href="http://www.scribd.com/collections/4410650/Westward-Advisors-Groups">estate
planning structures</a></b> and are especially targeted at expatriate
investors.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">"ILAS
are expressly captured as insurance contracts under the Insurance Companies
Ordinance," SFC senior director Stephen Tisdall said.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">"The
regulatory design is clear and deliberate, with the Securities and Futures
Commission neither having the power to license intermediaries conducting ILAS
business, nor having the powers to inspect, investigate or discipline them in
connection with the manner in which they conduct that business."<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Since
the financial crisis, more than 80 unlicensed funds marketed via ILAS products
have been suspended. Affected are fund houses including LM, Glanmore, Frontier
Investments, Castlestone and Capricorn, as well as student accommodation funds
from Brandeaux and Mansion.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">In
several cases, investors said they were not told the funds were unlicensed
before sale, a breach of insurance regulations.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">While
a fund's suspension does not always denote problematic behaviour by fund
managers, it can result in investors waiting years to get their money back.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">LM's
collapse is especially pertinent, as its funds were marketed as low-risk and
sold to savers approaching retirement. The Managed Performance Fund paid 9 per
cent commission to advisers and started delaying payouts to clients from 2009 -
four years before its collapse - advisers and LM founder Peter Drake said.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">The
firm's generous commissions, roughly three times the industry average for
similar products, encouraged financial planners to promote the fund, advisers
said.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Investors
were never told about the redemption problems, said Graham Smith, founder of
the LM Investor Victim Centre, which helps represent LM investors in Hong Kong
and overseas, many of whom had large holdings in the fund house, with little or
no diversification.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">In
many cases, the advisers disappeared the moment LM failed, Smith said.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Hong
Kong's rules put the responsibility for completing due diligence checks on such
products squarely on the advisory firm. This assumes each firm has the
capabilities to do the legwork needed to review an unlicensed fund.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">"You
have to go in and kick the tyres," said Mark Konyn, the chief executive of
Hong Kong-based institutional investment firm Cathay Conning Asset Management.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">"If
it's a company you have not really heard of and it's a long way away, the onus
is to do extra due diligence at the outset to make sure you are not buying a
lemon."<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">A
beefed-up Insurance Authority is set to take over regulation of the insurance
sales sector by next year.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Sin
welcomes the move but encourages the government to look again at the regulation
of investment advice in the insurance sector. "After 13 years, it is time
the government should review," Sin said.</span></div>
<br />
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">HK's
two-tier regulation puts some investors at risk, </span><b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-ascii-theme-font: major-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: major-latin;"><a href="http://westwardadvisors.com/">especially
with insurance-linked funds</a></span></b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">, says lawmaker who helped set up framework.<o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-61095162401079493822014-04-22T18:30:00.000-07:002014-04-22T21:57:15.426-07:00Westward Group for Tax and Estate Planning Advisors Tokyo News: The 5 biggest blunders<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><a href="http://www.cnbc.com/id/101573018"><o:p></o:p></a></span></div>
<div class="MsoNormal">
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhy6SCDGpgXw5tUXEg4bdKd0cfpdDoZ5P5Bn1jrW6fXmzpXzVPDnYEtU8RjU_ggkabICWd4Id713J8Xa_1FRgF6nEyL6udQa__mNTsAYRDBbNoGUfw62YzALUTNdCFV3u1UGr3hXNm0Ay-Y/s1600/5+biggest.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhy6SCDGpgXw5tUXEg4bdKd0cfpdDoZ5P5Bn1jrW6fXmzpXzVPDnYEtU8RjU_ggkabICWd4Id713J8Xa_1FRgF6nEyL6udQa__mNTsAYRDBbNoGUfw62YzALUTNdCFV3u1UGr3hXNm0Ay-Y/s1600/5+biggest.jpg" height="179" width="320" /></a></div>
<b><br /></b>
<b><br /></b>
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><a href="http://www.cnbc.com/id/101573018">The 5 biggest estate-planning blunders</a></span></b></div>
<div class="MsoNormal">
<span class="MsoHyperlink"><b><br /></b></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">You've
worked hard for what you have. You funded your retirement plan, paid off your
home and amassed enough savings to cover future expenses, plus leave a
financial legacy to your loved ones. Too bad your ex-spouse—and his or her
kids—will inherit it all.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Indeed,
<b><a href="http://westwardadvisors.com/">estate-planning
blunders</a></b> are costly and common, even among the fiscally prudent. Any number
of oversights can leave you vulnerable in the event you become incapacitated.
Others can seriously compromise the amount your heirs will inherit when you
die.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">"I
could tell you horror story after horror story," said estate-planning
attorney Sandra Clapp, of Sandra L. Clapp & Associates in Eagle, Idaho. One
of her clients, she said, made the critical mistake of giving his girlfriend
partial control of his assets during his lifetime.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Unbeknownst
to him, she had promptly transferred ownership of a significant portion of his
estate to herself. The man's will named his children as beneficiaries, but
there was little left to distribute when he died. "Once it's discovered,
it's usually too late if the assets are already spent or transferred out of jurisdiction,"
Clapp said.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">If
you wish to ensure that your estate does not fall prey to predators, creditors
or taxes, keep reading to be sure you're not committing the five cardinal sins
of estate planning.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">1. Picking
poorly<o:p></o:p></span></b></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></b></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Many
people forget that estate planning is a two-part process. Half of the documents
you draft provide instruction for divvying up your estate after you die, but
the other, and potentially more important, half outlines directives for
handling your finances and medical care if you become disabled.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Think
long and hard, said Clapp, about whom you select as your durable power of
attorney and medical power of attorney. Your life is literally in their hands.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">"One
of the biggest mistakes that can occur is picking someone not trustworthy or
qualified to act on your behalf," she said. "You can put the best
estate plan into place, but if you pick the wrong person to help execute it, it
doesn't matter."<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">It's
a mistake, for example, to pick your eldest child out of a sense of duty, when
your youngest child may be more responsible or likely to make better decisions.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">You
should also consider proximity and be prepared to amend your powers of attorney
as needed.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">"Maybe
you picked the child you live closest to now, but they later move halfway
across the country," Clapp said. "It's no longer reasonable to ask
them to be your medical power of attorney. Too many people create these
documents one time and forget about them."<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Remember,
too, to ask permission before naming someone your power of attorney. The person
you selected may not want the job or feel up to the task, and he or she
certainly doesn't want to be surprised by the designation after you pass.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">One
final tip: Make sure you sign a Health Insurance Portability and Accountability
Act release, which allows medical professionals to discuss your health with your
designated representative.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">2. Leaving
your IRA to your estate<o:p></o:p></span></b></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></b></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Do
not—repeat, do not—name your estate as your individual retirement account
beneficiary or it will be subject to claims and cr</span><span style="font-family: Cambria, serif; font-size: 12pt; line-height: 115%;">editors during probate, the
legal process for settling your estate.</span></div>
<div class="MsoNormal">
<span style="font-family: Cambria, serif; font-size: 12pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">When
you die, your individual retirement account would be used to pay off any debts
in your name. Whatever money remains, if any, gets distributed to your
heirs—and not in a timely fashion. Probate is costly and can take years to
complete.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">"If
the deceased had bad credit card debt or is upside down on a loan, the entire
IRA could be used up," said certified financial planner and estate lawyer
Austin Frye, founder and president of Frye Financial Center.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">However,
naming a live person—or all of your children equally—instead as the IRA
beneficiary allows those assets to pass outside of probate free and clear, away
from hungry creditors, Frye said.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Another
reason not to leave your IRA to your estate is that it denies your heirs the ability
to let those assets grow.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">How
so? Non-spouse heirs can normally either liquidate an inherited IRA and pay
taxes within five years of the owner's death, or "stretch" their
required minimum distributions—and tax bite—<b><a href="http://westwardadvisors.blogspot.com/">out over their lifetime</a></b>.</span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">The
stretch option is far more valuable, since it enables the account to continue
earning compounded interest for decades to come.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">By
failing to name a person as your beneficiary, your heirs lose that ability to
stretch and must distribute the IRA assets within five years, Frye said.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">3. Forgetting
to update beneficiaries<o:p></o:p></span></b></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></b></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Another
financial folly? Failing to update your beneficiary forms after a divorce or
death in the family.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">This
is particularly critical where IRA beneficiaries are concerned.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">For
example, if you update your will but forget to change the designated
beneficiary to your IRA, the person named to your IRA is legally entitled to
that asset when you die. That could be your estranged ex, who can then leave
that money to his or her own children from another marriage.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Thus,
it's important to review your designated beneficiaries on all documents
(including retirement accounts and life insurance) after every life event and
be sure they all reflect what's written in your will, said Bill Dendy, an
estate attorney, certified financial planner and president of <o:p></o:p></span><span style="font-family: Cambria, serif; font-size: 12pt; line-height: 115%;">Elite
</span><b style="font-family: Cambria, serif; font-size: 12pt; line-height: 115%;"><a href="https://foursquare.com/v/westward-advisors-group/52b79b3c11d24ad48e57e9c6">Financial
Management</a></b><span style="font-family: Cambria, serif; font-size: 12pt; line-height: 115%;">.</span><br />
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><o:p></o:p></span></div>
</div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">"People
circumvent their own will all the time," he said. "They'll indicate
in their will that they want their assets divided equally among their three
children, but then they go and name one child as the beneficiary to their IRA
account and another to their house or a joint bank account.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">One
client, he recalled, left jumbo certificates of deposit to each of his four
sons but then forgot and spent down one of the CDs, leaving that beneficiary
out in the cold.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">If
you plan to divide your estate equally among your kids, said Dendy, each
beneficiary form for each of your accounts should indicate that the assets are
to be divided equally among your children.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">4. Failing to
sign a health-care directive<o:p></o:p></span></b></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></b></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Equally
egregious, where estate planning is concerned, is failing to create an advance
health-care directive, also known as a living will. This document lets your
family, physicians and friends know what your end-of-life preferences are, as
far as procedures such as surgery, organ donation and cardiopulmonary
resuscitation are concerned. In short, it's the piece of paper that tells them
whether to pull the plug or not.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Such
guidance spares your family the emotional angst of having to guess at your
wishes when they are already under stress.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">"We
are an aging society and with that comes the potential for loss of capacity and
ability," Clapp said. "Without these documents, it's a much more
complicated process and it opens the possibility that your family will disagree
over what they believe your wishes are and who should be in charge."<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">That's
doubly true if you remarried and your spouse and children are at odds, she
said.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Keep
a copy of your signed and completed health-care directive safe and accessible
to ensure that your wishes will be known and carried out at the critical
moment. Give a copy to your attorney or family members as well.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Frye
agreed, explaining that this should be done with all estate-planning documents.
Many people, he said, park their paperwork in a safe deposit box, forgetting
that the bank is not allowed to release the contents of that box to
beneficiaries until probate is complete. By then, the funeral is over and
assets divided according to state law.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">5. Leaving a
living trust unfunded<o:p></o:p></span></b></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></b></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">A
living trust, which allows you to pass assets to heirs outside of probate, can
be a valuable estate-planning tool. But it won't do you a bit of good if you
fail to put assets into the trust.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Once
you set up a living trust, you must retitle your assets under the name of the
trust, Clapp said.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">"There's
a lot of misunderstanding with individuals when it comes to trusts," she
said. "Many people think that the schedules attached to the trust, which
asks them to list the assets they will transfer, means they've actually
transferred those assets. That's not the case. The schedule merely indicates
which assets you intend to transfer."<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">You
must still take steps to physically change the title of those assets under the
name of the trust. For real property, Clapp said, that involves changing the
deed. For assets such as stocks and bank accounts, the accounts must be
retitled by the financial institutions where they are held.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<b><span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><a href="http://www.pinterest.com/monickatwell/westward-advisors-group">And, of
course, don't delay</a><o:p></o:p></span></b></div>
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">This
one's just a bonus, but certainly worth a mention.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Many
people delay estate planning, partly because it's unpleasant to contemplate our
own mortality, partly due to the expense, and partly because younger adults
believe such paperwork isn't necessary until they reach old age.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Big
mistake, especially if you have small children.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">"If
you don't create an estate plan, you're letting the courts decide how to divide
your assets, which may not reflect your wishes, particularly if you have
children or specific distribution desires," Clapp said. "If you wish
to donate to charity, for example, the courts aren't going to grant that unless
it is specified in your will. Without a road map, it just makes it much more
difficult for everyone."<o:p></o:p></span></div>
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<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">Postponing
the process may also limit your ability to maximize the amount you leave to
your heirs.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">"If
you wait too long, some of the best planning opportunities may be gone,"
said Clapp. "For taxable estates, you could have gifted money or
restructured assets."<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">The
biggest estate-planning mistakes can be easily avoided with a few signed
documents and some vigilance. Because of the complexity involved, however,
Dendy of Elite Financial Management says it's vital that legal counseling be
used.</span></div>
<br />
<div class="MsoNormal">
<span style="font-family: "Cambria","serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">"This
is one of those areas where it's even more expensive if you don't take care of
it correctly," he said. "Just know what you're asking for and what it
is that you want."<o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-72961030937611025222014-04-21T18:51:00.000-07:002014-04-21T19:47:58.650-07:00Westward Group for Tax and Estate Planning Advisors Tokyo News: Japan Sales Tax Rise<div style="margin: 0in 0in 12pt; vertical-align: baseline;">
<div class="MsoNormal" style="vertical-align: baseline;">
<div class="MsoNormal" style="vertical-align: baseline;">
<b><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><a href="http://online.wsj.com/news/articles/SB10001424052702303825604579514281235429254?mg=reno64-wsj&url=http://online.wsj.com/article/SB10001424052702303825604579514281235429254.html">Japan
Trade Deficit Surges before Sales Tax Rise</a><i><o:p></o:p></i></span></b></div>
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<b><br /></b></div>
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<div class="MsoNormal" style="line-height: 16.8pt;">
<i><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">Slight
Rise in Exports Overpowered by 18.1% Import Jump<o:p></o:p></span></i></div>
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<div style="line-height: 16.8pt; margin: 0in 0in 12pt; vertical-align: baseline;">
<span style="color: #333333;">TOKYO—Japan's
trade deficit increased sharply in March, suggesting that an early turnaround
in the trade balance may be further away than had been hoped for.<o:p></o:p></span></div>
<div style="line-height: 16.8pt; margin: 0in 0in 12pt; outline: 0px; vertical-align: baseline;">
<span style="color: #333333;">While
some of the increase was due to a temporary factor—higher spending ahead of the
April 1 <b><a href="http://westwardadvisors.com/">sales tax increase</a></b>—exports were
also weaker, especially to Asia, presenting a new challenge to Prime Minister
Shinzo Abe's efforts to revive the economy.<o:p></o:p></span></div>
<div style="line-height: 16.8pt; margin: 0in 0in 12pt; outline: 0px; vertical-align: baseline;">
<span style="color: #333333;">Finance
Ministry data showed Monday that exports grew only 1.8% from the year before,
despite a 9% fall in the yen against the dollar. A weaker yen lifts the nominal
value of exports when expressed in yen terms. Exports fell 12.5% to Thailand,
7.2% to Indonesia and 6.2% to South Korea.<o:p></o:p></span></div>
<div style="line-height: 16.8pt; margin: 0in 0in 12pt; outline: 0px; vertical-align: baseline;">
<span style="color: #333333;">Stripping
out the effects of the weaker yen, exports fell 2.5% in volume terms, the
biggest drop in nine months. Export volumes fell to all regions except the U.S.<o:p></o:p></span></div>
<div style="line-height: 16.8pt; margin: 0in 0in 12pt; outline: 0px; vertical-align: baseline;">
<span style="color: #333333;">With
imports being pushed up by spending ahead of the April 1 sales tax rise, the
trade gap ballooned to ¥1.45 trillion ($14 billion) in March. The figure was
the largest ever for the month and marked a record 21 straight months of
shortfalls.<o:p></o:p></span></div>
<div style="line-height: 16.8pt; margin: 0in 0in 12pt; outline: 0px; vertical-align: baseline;">
<span style="color: #333333;">The
massive deficit, which compares with a gap of ¥356.9 billion a year ago, was much
worse than the median forecast of a ¥1.07 trillion deficit in a survey of
economists by The Wall Street Journal and the Nikkei.<o:p></o:p></span></div>
<div style="line-height: 16.8pt; margin: 0in 0in 12pt; outline: 0px; vertical-align: baseline;">
<span style="color: #333333;">Imports
jumped 18.1% from the previous year, outpacing the 1.8% rise in exports. The
economic slowdown in China and Thailand has depressed demand for Japanese
machinery and auto parts. The continued move to offshore production in
countries like Mexico also apparently dented overseas demand for
Japanese-produced autos and electronics.<o:p></o:p></span></div>
<div style="line-height: 16.8pt; margin: 0in 0in 12pt; outline: 0px; vertical-align: baseline;">
<span style="color: #333333;">The
weaker exports are in line with downbeat views from the <b><a href="https://twitter.com/monickatwell/lists/westward-advisors-group">International
Monetary Fund</a>,</b> which earlier in April trimmed its global growth
estimate to 3.6% from 3.7% for 2014, citing a more modest pickup in growth in
emerging economies.<o:p></o:p></span></div>
<div style="line-height: 16.8pt; margin: 0in 0in 12pt; outline: 0px; vertical-align: baseline;">
<span style="color: #333333;">Japan's
trade balance has been deteriorating steadily over the past three years, in
part due to a surge in fossil-fuel imports following the March 2011 nuclear
accident in northern Japan. The deficits started to swell under the Abe
administration, as his policy of weakening the yen lifted the import bill
without similarly raising exports.<o:p></o:p></span></div>
<div style="line-height: 16.8pt; margin: 0in 0in 12pt; outline: 0px; vertical-align: baseline;">
<span style="color: #333333;">The
import growth suggests domestic demand will stay strong, even after the <b><a href="http://westwardadvisors.tumblr.com/">sales tax goes</a></b> up, as most
of the items imported in March were to stock shop shelves for April or later,
government officials said.<o:p></o:p></span></div>
<div style="line-height: 16.8pt; margin: 0in 0in 12pt; outline: 0px; vertical-align: baseline;">
<span style="color: #333333;">Other
economic data point to an early rebound in consumption. Year-over-year declines
in appliance sales narrowed to 2% in the second week of April, from 19% in the
first week. Those in sales of food and beverages narrowed to 10% from 17%,
according to the Cabinet Office.<o:p></o:p></span></div>
<div style="line-height: 16.8pt; margin: 0in 0in 12pt; outline: 0px; vertical-align: baseline;">
<span style="color: #333333;">If
imports remain strong, it is even more critical that exports recover for Japan
to fix its trade balance. But with China's economy slowing, Thailand in
political turmoil, and the rest of Southeast Asia still grappling with tighter
credit following the U.S. move to reduce its monetary stimulus, a quick
recovery in exports looks difficult.<o:p></o:p></span></div>
<div style="line-height: 16.8pt; margin: 0in 0in 12pt; outline: 0px; vertical-align: baseline;">
<span style="color: #333333;">"Japan
will make every effort to increase trade with emerging economies, including
through the Trans-Pacific Partnership," said Yoshihisa Furukawa, senior
vice finance minister, on Monday, referring to U.S.-led free trade talks now being
negotiated. The U.S. and Japan, the two biggest participants in the
initiative, have been negotiating intensively in the past month to reach a
broad agreement on the pact.<o:p></o:p></span></div>
<div style="line-height: 16.8pt; margin: 0in 0in 12pt; outline: 0px; vertical-align: baseline;">
<span style="color: #333333;">Some
economists now warn of prolonged trade deficits.</span></div>
<div style="line-height: 16.8pt; margin: 0in 0in 12pt; outline: 0px; vertical-align: baseline;">
<span style="color: #333333;">"It
remains difficult for exports to recover even if overseas economies improve.
There is a risk of increasing imports and ballooning trade deficits," said
Junko Nishioka, chief economist at RBS Securities Japan.<o:p></o:p></span></div>
</div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0tag:blogger.com,1999:blog-5090060340088760081.post-79536928188053215982013-12-29T16:48:00.002-08:002013-12-29T16:48:53.751-08:00Westward Advisors Group for Tax and Estate Planning: The LifeStep Process<div class="MsoNormal" style="text-align: justify;">
<b><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">We work with advisors to determine which of clients could benefit the
most from our <a href="http://westwardadvisors.com/the-lifestep-process/the-discovery-process">process</a>,
then present the results to you for further discussion and analysis.<o:p></o:p></span></b></div>
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<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">This step is designed to identify
which clients have the most to gain from an insurance-based tax and estate
plan. With <b><a href="http://westwardadvisors.com/">Westward</a></b>'s assistance, an advisor
should be able to assess whether the plan can create significant benefits for
the client. There is no obligation and a client’s identity is not revealed to
us.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Several innovative tools are used
which have proven very effective in pinpointing who is a strong candidate for a
Westward plan:<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: Wingdings; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Wingdings; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Wingdings;">Ø<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;"> </span></span><!--[endif]--><b><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The Preliminary Filter</span></b><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"> – a data
analysis tool that identifies potential clients based on their T1 and T2
filings. The software generates a no-names, hierarchical list of the top
candidates in just a few minutes, saving you hours of research and taking the
hit and miss out of the qualifying process.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: Wingdings; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Wingdings; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Wingdings;">Ø<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;"> </span></span><!--[endif]--><b><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The Preliminary Viewpoint</span></b><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"> – an
easy-to-use eForm that provides us with all the details needed to assess a
client’s situation and start building a plan. The data allows us to prepare a
plan that is tightly synched to the client’s financial situation and estate
goals.<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: Wingdings; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Wingdings; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Wingdings;">Ø<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;"> </span></span><!--[endif]--><b><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The Opportunity Filter</span></b><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"> –
Westward's unique risk & reward matrix that plots the performance potential
of over 30 insurance-based plans.<o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/13068319711944805487noreply@blogger.com0