Certain Tax Strategies in Uncertain Times

Here are two ways to maximize your investments for you and your family…

Children under 18 years of age may earn up to $950 of investment income per year with no federal tax and no federal reporting requirements.  This includes dividends, interest, and gains on sales of investments.  One investment idea is US Savings Bonds which allow you the option to elect to report the interest every year instead of at redemption.  Children may also earn an additional $950 in investment income and pay a lower child’s federal tax rate.

Qualified Section 1202 Small Business Stock is a wonderful opportunity to get in on the ground floor of a promising new business.  Qualified small business stock shares held for at least five years before they are sold are exempt from federal tax upon sale!

The best strategy in uncertain economic times is to take a deep breath!  Remember what’s important, such as peace of mind, integrity, and family.  Best wishes for the new year, Christine Thibodeau, CPA

 

 

 

 

Meeting Highlights November 17, 2011

The group discussed mobile sites, benefits and upgrades for the current web site.

The speaker for the day was Christine Thibodeau, certified public accountant regarding tax rate uncertainty for 2013 and beyond… She described the upcoming uncertainty and provided traditionally wise tax strategies.

Responsible Sports Program

Bill Wells has written a great article on the Reponsible Sports program offered by Liberty Mutual, and explained by Aaron Tillberry during our September EBBE meeting.  Thanks to Dick Forrest for making the article possible!  It is posted at:

http://www.masslive.com/sports/index.ssf/2011/09/liberty_mutual_offers_responsi.html

 

Powerful Listening

I recently took a professional development class called Powerful Listening to improve my listening skills, and I have been practicing listening skills during our EBBE business meetings.

If the goal of human communication is to understand, listening is one of the best ways to reach that goal.  We have to understand our clients and customers to do our work properly.  Understanding a client requires that I carefully listen to what the client is really saying, and what is important to them.

So, during the EBBE meetings, I’ve been listening, to learn what makes each member of the group tick.  It works!

I learned that Dave enjoys starting new business ventures, and he loves to get the word out using all types of media: post cards, television advertising, radio not so much, and printed newspapers. Dave’s Gold Trader business even fielded a marching unit in the East Longmeadow Fourth of July parade this year, with a fund raising tie in to the East Longmeadow High School Band!

<a href="Nyles has a knack for voice impressions that are very funny and entertaining.  His Russian spy and French Canadien accents are especially good.

 Larry enjoys the outdoors and camping, and he just returned from a week in the Adirondacks.  What a great way to take a break from repairing, servicing and selling computers, networks and electronics.

Richard is another computer guy who has a company that designs websites, is a hiker.  He was climbing the Adirondack high peaks and coincidentally met up with Larry last week in Lake Placid when their paths crossed on vacation.  What a small world!

Sydney  enjoys leading the class in her field of residential real estate sales.

Our newest member, Aaron, enjoys coaching his sons in youth sports, and home safety public information projects that go with his work in insurance.

Listening, and getting to know members of the group, helps me know what they do best, so I can refer the people who need their services.  That’s one reason I always look forward to Thursday mornings, and EBBE!