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Financial Strategy Implementation Guidebooks

When you order the Financial Strategy Implementation Package for $99, you receive unlimited access for ONE YEAR to all the BFA financial strategy implementation planning guides and tools. These planning guides and tools will help the business owner and/or their financial advisors implement the particular financial strategy into their business operation. They also include all the documents, forms, and contracts that are needed to meet the appropriate IRS or government guidelines.

Here’s what you get when you order the $99 Financial Strategy Implementation Package from BFA:

Retirement Planning

How To Maximize Social Security Benefits And Minimize Social Security Taxes
According to the AARP, two of the most frequently-asked questions by retirees are, 1) How can I reduce the taxes I pay on my Social Security benefits?, and 2) Should I apply for Social Security benefits at age 62? This planning guide answers these two questions and many more, such as:

  • How you can get more money by claiming spousal benefits first
  • How you can make $40,000 on an interest free loan from the Social Security administration and at the same time increase your Social Security benefits?
  • How you can use annuities and Roth IRAs to increase your Social Security benefits by 80%?
  • How you can use annuities and Roth IRAs to dramatically reduce the taxes you pay on your Social Security benefits?

Last Will & Testament Questionnaire
This checklist can help the family complete the proper information needed for an attorney to bid on the preparation of a will and reduce your amount of time (and money) spent.

Revocable Living Trust Questionnaire
This checklist can help the family complete the proper information needed for an attorney to bid on the preparation of a revocable living trust and reduce your amount of time (and money) spent.

Tax Strategies

The following tax strategy guides can be used to develop a tax reduction game plan that can literally save you $5,000-$10,000 a year in taxes. They include all the documents, forms, and contracts needed by your accountant to implement each strategy.

Health (Medical) Reimbursement Accounts (HRA)
Implementing this benefit program allows you to tax deduct all your health care costs as a business expense, including costs that are not normally tax deductible, such as all your insurance co-payments and deductibles, all medical prescription costs, all dental costs (braces for your kids), and vision costs (LASIK surgery). If your health insurance premium and all your other health costs are at least $10,000 per year, the HRA plan can save you $1,530 in taxes alone.

Hire Your Kids
Shifting income to your children and grandchildren can be a great way to cut taxes. The child or grandchild’s first $5,700 of earned income is taxed at zero and the next $8,350 of earned income is taxed at just 10%. Furthermore, you can deduct another $5,000 of earned income if you put the money into a regular IRA (Individual retirement Account).

Gift or Sale and Leaseback
Another income-shifting method is to gift fully depreciated property and then lease the property back through your business. The property can be an office building, a warehouse, a computer or telephone equipment, cars and trucks, or any office equipment.

Tuition Assistance Program
A self-employed business owner can tax deduct up to $5,250 per year in college tuition costs by merely employing their children in their business. However, you must use the forms and follow the specific guidelines in this package in order to qualify your kid’s college tuition costs as a business deduction.

Health Savings Account
HSAs are similar to individual retirement accounts (IRAs), but even better. A self-employed business owner can pay for qualified medical expenses with income-tax free dollars, accumulate the money inside the HSA on a tax-deferred basis, and pay for qualified medical expenses with income tax-free dollars.

Deduct Your Employed Child’s Car As A Business Expense
All business use of a company car qualifies as a working condition fringe benefit and, therefore, 100% of the value of that business use is excluded from the employee’s (child’s) income. In addition, if the personal use of a company car is included in an employee’s (child’s) wages as taxable compensation, the employer can recover the entire cost of the company car as if it were used entirely for business purposes.

Gift of Appreciated Assets
A self-employed business owner can gift appreciated assets to a family member in a lower tax bracket, thereby "shifting" the taxable appreciation of that asset from a higher bracket to a lower bracket in order to reduce taxes.

Deducting Home Interest As A Business Expense (IRC 1.163-10T(o)(5))
A self-employed business owner can use the IRC 1.163-10T(o)(5) election to treat the interest expense on a qualified residence loan as not "qualified-residence interest" in order to deduct the personal residence interest as a business expense and reduce 15.3% self-employment taxes.

Comprehensive Tax Strategy Package
Includes the above 8 tax strategies in one package

Choice Of Entity
One of the most frequently asked questions by business owners is, "Which business entity is right for my business?" Although you should always seek proper tax and legal advice before making that decision, this guide can help you with your decision by providing the advantages and disadvantages of each of the five major business entities, 1) Sole Proprietor 2) Partnership, 3) C-Corporation, 4) S-Corporation and 5) Limited Liability Company.

Independent Contractor Status
In tough economic times many small business owners employ "Independent Contractors" to provide services for their business, rather than hire "Employees". However, it is critical that small businesses correctly demonstrate that the individuals providing services for them are in fact independent contractors according to IRS guidelines. If the IRS determines that your "Service Provider" is performing the duties of an "Employee", then you may be responsible for withholding income taxes, Social Security and Medicare taxes, and pay unemployment tax on the compensation paid to the individual. This guide explains the difference between an employee and an independent contractor and provides you with the necessary documents and forms (including a sample Independent Contractor Agreement), needed to meet the IRS guidelines of a qualified independent contractor.

General Business Tax Credits
There are many business tax credits that small business owners do not realize are available to them. If you qualify, these business tax credits can reduce the amount of a your income taxes on a dollar-for-dollar basis.

Cash Flow & Debt Reduction Strategies

The following cash flow & debt reduction guide and software can be used to help you pay off your home mortgage, or any other debt, in half the time.

Cash Flow Maximizer Strategy
Cash Flow Maximizer strategy is a simple, yet powerful methodology to pay down your debt and reduce the interest costs that banks charge. It can help you immediately improve your cash flow and accelerate debt reduction, eliminate future interest expense, increase your cash flow, and help you build equity (wealth) in your home. This package comes with a complete step-by-step instruction manual for implementing the Cash Flow Maximizer debt payment method and a complete operations tutorial for the Home Equity Wealth Builder calculator (below).

Home Equity Wealth Builder Calculator (Excel)
The "Home Equity Wealth Builder" is an Excel 2003 software calculator that is used to demonstrate how fast you can pay off your home (or any other debt) and build additional wealth for retirement using the Cash Flow Maximizer strategy. It includes a side-by-side comparison of the Cash Flow Maximizer payment method versus the Bi-Weekly payment method. It also includes a CASH FLOW MAXIMIZER TRACKING WORKSHEET to help you track your monthly results.

College Planning Strategies

College Decision Navigator
This step-by-step workbook was designed to help college-bound families achieve the highest level of understanding of the complex college process. It will guide you through proper college selection and visitation and steer the student through a basic career search to help prevent the 5-6 year college degree and mid-term major switches, all of which can help you reduce costs. It also covers how to properly prepare for and achieve the highest ACT/SAT test scores, how to efficiently move through the college admissions process and how to evaluate, apply for, and even negotiate the maximum amount of aid monies to reduce your college costs.

Education Tax Strategies
Whether you are saving for your children's education, or in the process of paying college tuition, there are many education tax credits and deductions available to you. This guide will help you determine whether, or not, you qualify for these education tax incentives and how to claim the tax benefit.

Insurance Planning

Life Insurance Needs Questionnaire
The following checklist can help choose the proper life insurance needs and coverage for your estate.

Disability Insurance Needs Questionnaire
The following checklist can help the family determine the proper disability insurance needs and coverage.

Health Insurance Needs Questionnaire
The following checklist can help the family identify the best health plans and contain health costs.

Long-Term Care Insurance Needs Questionnaire
The following checklists can help the family determine the proper elder care needs and coverage:

  • Long-term care insurance coverage
  • Nursing care strategies
  • Aged health capacity analysis

 

 

 


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