Taxes and Planning the Right Way

History of Taxes

Taxes make up a large amount of revenue for the United States government and is funded by the American citizens. Income tax is just one of the many taxes Americans must pay by law and became the 16th Amendment on July 2, 1909, and it was ratified on February 3, 1913. 

The Civil War was one of the earliest wars in American history to use income tax when Congress passed the Revenue Act of 1861. This tax was implemented on the American citizens to fund the Civil War. Originally it was used only during wartime. However, 1913 was the actual year it became law. 

The federal government taxed all income from individuals overriding the state government. These taxes also funded World War I and World War II along with every war that followed in American history. The government is meant to take the tax money and use it for what the people want the government to do for the benefit of all citizens.

Who Pays Income Taxes

Any American citizen who makes over $10,000 single, $25,000 married, or $400 working for themselves has to pay income taxes. Many Americans over pay and at the beginning of the following year, they get some of their money back through income tax refunds. Tax Planning is one of the ways that Americans can stay on top of how much taxes they owe versus how much will they get in return from the government.

Why a Tax Professional?

In many cases of tax planning, the process can be very difficult and confusing. One of the worst types of mistakes to be made by any citizen is on our taxes. This is the biggest reason we use tax professionals to assist us with all the paperwork and advise us of any updated tax laws and exemptions. 


This can save a lot of time and a lot of headaches. It can also save us a lot of money, even though we have to pay for their services. To spend a little money can save us from being audited, stiff penalties and fines, high-interest rates, and possible jail time if the penalties and fines cannot be met. All these are good reasons to let a professional handle the issues so that no mistakes are made.

How to Pay Fewer Income Taxes

There are many different ways the government gives us tax breaks when paying income taxes. All of these are known as tax deductions. One can contribute to a donation, 401K, or any retirement fund. Most college students pay on student loans. 

As long as the loans are being paid back monthly the student will have this for a tax deduction. If anyone buys a home, that is one of the biggest tax deduction through the interest payments on the mortgage. Many people itemize all their purchases throughout the year by saving every receipt.

Another way is through having the taxes prepared by a professional. This can help in two ways. One is, the money paid to the professional can be a deduction if the party is itemizing, and the other way is that the professional will know all the current laws and can get the best possible result for any refunds. 

There is also some beneficial reasons to discuss with a professional the future and taxes. This is a good strategy to get started on early so the tax collectors can stay away from knocking at one’s door for the government’s money. 

Sometimes a tax professional can be a financial advisor who can assist with information to pay less as the client gets older. This can help in the planning process, not just from the required year to year, but can paint the whole picture of a strategic plan for an individual in the future.

Tax Planning and the Future

One can always do things on their own, but one of the things that can be most beneficial is the fact that having assistance gives the upper hand to having that second eye overseeing things that can be missed. The advice is priceless, but the goal of tax planning is for the future and that is where stability must be foreseen through it all.

How Seniors Can Manage Their Finances and Living Expenses

Life after retirement can be relaxing and enjoyable. It’s something that calls for a lot of careful financial planning, though. If you want your financial situation to be smooth and stress-free post-retirement, these strategies can be extremely helpful. Intelligent senior citizens know how to take care of their finances with all the mindfulness in the world.

Be Prudent about Lending and Giving Money to Adult Children

Ample prudence is essential for seniors who want to handle their finances the smart way. Seniors are often tempted to offer their adult children financial assistance. Doing so excessively can sometimes be a bad idea, however. If you want to keep your living expenses and finances in check as a senior, then you need to have strict financial boundaries in place.

Budget Well

Budgeting is vital for seniors who want to take charge of their financial futures. It’s critical to keep track of your money situation day in and day out. Establish a budget that actually means something to you. If you want to avoid spending more than a certain amount each month, mean what you say. 




Refrain from purchasing things that are pointless or unnecessary. Focus on “trimming the fat,” too. If you have a gym membership that you don’t ever use, cancel it. Get exercise at the local park, instead.

Downsize Your Existence

Downsizing has been a big craze among savvy senior citizens in recent years. It can be terrific for seniors to think about moving to smaller homes. If your children have moved away, you probably don’t need a residence that’s equipped with three or four bedrooms. 

Maintaining a smaller structure can be a lot more economical. It can be anxiety-inducing to have to deal with all of the upkeep hassles that are associated with bigger properties.

Hire a Capable Financial Advisor

Seniors often turn to professionals for assistance with their finances. If you want to steer clear of calculation errors and all related dilemmas, then it can be helpful to recruit a professional financial advisor who has a solid track record. 

A financial advisor can meticulously assess all of your financial documents. He or she can offer you finance tips that are sound, updated and dependable as well. Advisors can even analyze costs for elderly aged care services.

Seniors need to make smart and balanced financial choices all of the time. If you’re a senior who wants to revel in maximum comfort, it can help to work with a good financial advisor. It can help to budget cautiously, too.

Do Multiple Bank Accounts Make Finances Easier to Manage?

It isn’t unheard of for people to open and maintain multiple bank accounts. If you want to handle your financial situation well, multiple bank accounts may be something to seriously consider. Maintaining several banks accounts at the same time can in some cases be extremely practical. It offers advantages that can simplify the handling of finances.

Multiple Bank Accounts Can Provide You with Diversification Advantages

Having multiple bank accounts can be suitable for individuals who are interested in financial diversification. People should refrain from safeguarding their assets in single spots. This can often be a major no-no. 

Note, too, that asset diversification can be advantageous to people who want to enhance the coverage they receive from federal deposit insurance plans they have in place.

Multiple Bank Accounts Can Be Suitable for Individuals Who Have Substantial Balances

If you’re equipped with any bank accounts that have comparatively substantial balances, then keeping track of multiple options may be up your alley. Putting money in different locations can sometimes be beneficial for individuals who are looking to steer clear of perhaps going beyond various insurance restrictions, too.

Multiple Bank Accounts Enable You to Distinguish between Your Checking and Savings Accounts Easily

If you’re looking into opening a savings account, you should do some research in advance. Maintaining numerous bank accounts enables individuals to keep their checking and saving accounts apart. 

It isn’t uncommon for people to access their savings accounts for purposes that have nothing to do with gathering money for later times, however. If you want to dodge that typical pitfall, getting other bank accounts can be intelligent.

Multiple Bank Accounts Can Be Terrific for People Who Struggle with Choices

Some people struggle with choices. It can be hard for some people to make choices regarding orders at dining establishments. It can be hard for some people to make choices that relate to their financial situations, too. 

If you open several bank accounts, you can test them all thoroughly. Assessing various financial institutions can help you assess quality. It can help you assess everything from representative behavior to feature convenience.

Handling finances can be a huge hassle for many people in this world. It’s something that people have to do, however. If you want to make taking care of your finances as simple as possible, you should look into maybe opening several bank accounts. Some of the savviest finance gurus around advocate the concept of keeping more than one bank account.

Reasons Why You Should Perform Forex Trading Through ECN Brokers

Store Forex currency trading is normally executed by means of either market makers or electronic communications networks, furthermore referred to as ECNs. A lot of Forex trading traders favor ECN brokers as a result of its several natural pros.

What is an ECN?

ECN brokers could be thought of as the bridge connecting participants within the forex market directly to one another, eliminating the particular need for a dealing desk. 

ECNs acquire prices from multiple market individuals, such as banks and market makers, and other traders who are people of the network, plus stream the best bid/ask prices on their investing platforms.

What are the features of using ECN agents?

Trade in invisibility

Oftentimes, trading with the application of ECN brokerage companies can be done in an anonymous manner. It enables traders to deal on neutral prices. Being able to execute a number of trades anonymously is attractive for some traders, specifically those who desire to complete large trades. 



It is because it allows them in order to trade without drawing interest to their strategies or recent market positions that will could influence market costs.

Better prices

Considering the fact that a good ECN broker gets cost quotations from numerous market participants, it will offer you with tighter bid/ask costs than what you can acquire from other varieties associated with Forex brokerage firms. 

Furthermore, ECNs do not perform any role in establishing prices, and therefore, there is usually a much-reduced risk of price manipulation.

Propagates aren't fixed

In comparison to market makers, ECN brokers have no control over the bid/ask prices plus so cannot give the fixed spread at almost all times. Throughout very active trading periods, you can get little or no spread from all, especially for extremely water currency pairs including the majors. 

A tighter spread is usually sought after by some market participants, day investors specifically, as it allows them to fill their particular orders at the prices they desire.

Better marketplace access

Apart from retail Forex traders, ECNs also relay bid/ask prices through numerous institutional market manufacturers like banks, financial establishments, and other prominent organizations.

Instantaneous trading

Utilizing an ECN broker permits you to definitely business immediately. As an ECN client, you get to enjoy reliable live loading of best executable prices, and you receive instant confirmation of trades since they are dealt. Because said before, there is no middleman, so re-quotes are unlikely.

They are not necessarily going to trade towards you

Since an ECN broker directly matches market participants, there is just no possibility of them trading against you - a criticism that is normally directed towards some market makers. A good ECN broker will merely pass your orders to a loan company or one more client on the opposing ending of the transaction.

There are lots of Forex traders are putting their orders via ECN brokers. This preference can be explained by numerous advantages inherent to this sort of broker, which include tighter spreads and much better market access.

Investing in Football Memorabilia: How to Bag a Bargain

The craze around collecting football memorabilia seems to be making a comeback. But, many fans now aren’t sure of what to look for and how much an item they already own in storage could be worth.

With this guide we’ll take a look at football programmes in particular and along the way. We’ll cover which editions have sold for the most money and offer you advice on how you can get started collecting rare footie programmes today…

Football match programmes: the history

The initial football programmes were published and launched alongside the Football League launch in 1888. Unlike today, the aim of a programme was to keep score and it was made up of a single sheet detailing the teams and match date.

Football fans are likely to have heard of the Villa News and Record for Aston Villa — one of the first programmes released. Soon after, the football programme took on a weightier format of between four and eight pages, while the covers became more attention-grabbing and attractive. 

During and after World War II, a paper shortage cut the number of programmes that clubs could produce — making any that were released very collectible today.




Did you know, football programmes started out as pocket sized but then were later developed to A4? From a single sheet of basic info, the availability of saddle stitched and a growth in popularity turned football programmes into thick, glossy books crammed with trivia, statistics and high-resolution photos that fans loved to buy before every match.

These days fans rely on football programmes for player information. The programme can also act as a mouthpiece for the club in question, allowing managers and players to speak to fans via interviews and club statements.

What price should you pay?

Some professional collectors will pay out a lot of money for certain football programmes. In 2012, a family from Ipswich managed to make around £46,000 by auctioning off a set of football programmes they stumbled across in their house, which goes to show how easy it is to not realise the treasure you have sitting around your home.

Fairly recently, New Bond Street auctioned the oldest-known programmed from a Football Association Cup Final for £30,000 — detailing Old Etonians vs Blackburn Rovers from 1882. Similarly, in 2012, the single sheet programme from 1909 between Manchester United and Bristol City sold for £23,500.

Examples of some very valuable programmes

Football programmes have always been significant part of a match day, but how collectable are they really? Reports have suggested that the first Wembley final programme dating back to 1923 between Bolton and West Ham United is worth just £1,000. 

Alternatively, there’s the programme from the one and only time a non-English club lifted the FA Cup — Cardiff City vs Arsenal in 1927 — which ended with a score of 1-0 and has a value of about £2,500!

However, a programmes worth a lot more is the 1966 England vs West Germany. But be warned; there were three reprints of the original, so tracking down a bona fide version is tough. 

If you want to be sure you’re buying an original, check the weight and colouring — the reprints are more lightweight, while the front cover of the original is a deep, royal blue. Different paper types are also used for the team pages in the original, but not in the reprinted versions.

Hang onto any cancelled game programmes as they’re worth something too — take the Manchester United vs Wolverhampton Wanderers game in 1958 following the Munich air disaster. 

This can go to auction for around £10,000. However, once rescheduled, another programme was created where the club showed respect to those involved in the disaster by leaving the team page blank.

A set of handy tips for collectors

Make sure you grab a bargain if you can, when it comes to football programmes:

• Age — anything over 50 years old is most collectible. 
• Rarity — if there are many available, this will bring the value down. 
• Popularity — programmes with an iconic footballer on the cover or detailing a famous match are the most prized and valuable. 
• Condition — creases, missing staples and water damage all harm the programme’s price, so ask for a photo before you pay. 

There are a wide range of programmes in existence that are valuable, so it’s worth collecting them at any match you go to — especially if it also specifies a special event, such as the last time a player plays. 

Also, certain teams typically hold greater monetary value than others when it comes to programme collecting — although, programmes from your team’s past will be more personally valuable to you. Sides such as Manchester United, Chelsea, Liverpool, Spurs, West Ham, and Arsenal are all highly sought after and are worth keeping an eye out for if you want a particularly valuable item. The Football Programme Centre is also a good source of advice if you’re keen on becoming a serious collector.

Where The Trade Buys are print experts and retailers, based online and in the UK. As well as offering bollard signs for businesses, they specialise in promotional and office print services for B2B industries.

Sources:

https://www.bbc.co.uk/news/uk-england-suffolk-18399222

https://www.antiquestradegazette.com/news/2013/auction-record-for-any-football-programme/

https://www.justcollecting.com/miscellania/top-5-most-fascinating-football-programmes

http://www.footballprogrammecentre.co.uk/football-programme-guide.php

The Best US States to Expand a Business To

The US is going through its second longest economic expansion, and businesses across the country are seeing major benefits. The national unemployment rate is less than 4%, and many sectors are seeing booms in employment.

Some US states, however, are more attractive to international business expansion than others, so if you’re expanding your business, here’s which states to consider.

Florida

Florida is known for being a good place to do business, with few regulations, a good college system and low cost of living, with no income taxes. It ranks in the top 10 for venture capital, and ranks quite highly for entrepreneurship and taxes. 

There are 206 patents created per million people. And it’s sunny – which always helps with employee morale.

North Carolina

North Carolina has many business-friendly regulations, making it a top spot for innovation and a good workforce. It has a built a friendly business climate over the last few decades, with low business costs and a young, educated workforce. However, it does also lack anti-discrimination laws and state laws that may deter younger workers.

Washington

Washington has 906 patents created per million people, the third highest ranking in the country, so it’s safe to say the state is entrepreneur-friendly. It’s home to giants including Amazon, Costco, Expedia and Microsoft, and has a strong workforce that thrives on innovation. 




The state has no income tax, but it has a business and occupations tax that can affect some businesses more than others.

Massachusetts

The state of Massachusetts ranks second for patent creation, with 1,005 patents per million people. The state has had a huge influx of business capital in recent years, and always scores highly for education and innovation, as well as quality of life. 

This is partly thanks to its dynamic Boston economy, which is particularly strong in industries including education, healthcare and technology. On the other hand, it also ranks badly for cost of living and business costs.

Texas

Texas scores highly for infrastructure in most polls relating to the best US states for international business. It has strong employment rates and is home to 100 of the 1,000 largest public and private companies in the US, including Dell and ExxonMobil. 

It has no corporate or personal state tax, and has a highly skilled workface thanks to a number of top colleges across the state.

Utah

Proctor & Gamble, Boeing and Home Dept have all recently announced expansions to Utah, where population growth is one of the fastest in the country.

Energy costs in Utah are around 31% below the US national average, while business costs are 10% below national average and employment growth has averaged 0.6% over the last five years. 

It also has a 5% tax rate, which is below nearby states such as Arizona, Idaho and New Mexico. It also ranks well for having a low tax burden on businesses across different industries.

If you’re a global business looking to expand, get in touch with international expansion experts Galvin International for advice and support.