Get an IRA to get Reduction in you Tax Bill

If you have a 401k at work and are over 50 and need to find immediate relief on your taxes.A Traditional IRA May be your solution.

You have until April 15, 2019 to contribute for a tax deduction in the 2018 calendar year. Since IRA is separate from employer sponsored 401k, you can invest up to $5,500 in IRA’s plus an additional $1,000 or $6,500, if you’re over 50. Depending on your income your contribution may or may not be tax deductible.

For 2018, once you reach $63,000-$73,00 of income as a single person – or  $101,000-$121,000 if married, filing jointly or a qualified widow(er) – you will either be entitled to deduct only part of your traditional IRA contribution or Not entitled to a deduction  at all. 

Remember for retirement the general goal is to minimize tax liabilities and maximize earnings. If you have questions call us 575-541-3963.

Be A Responsible Driver

Driving and talking on the phone have become the norm. I’m must admit, I’m guilty as most in this area. Why do we do it? We don’t perceive talking on phone while driving as dangerous.

Research shows that talking in the phone while driving is a distraction which increases likelihood of an auto accident. And accidents affect your insurance rates.

When you add texting to the equation your chances of causing an accident more than quadruple and are more likely to cause a crash than a drunk driver.

When we’re distracted we don’t perceive the road and our surroundings well. We are seeing but not perceiving. The underlying phenomenon is the same as the famed Invisible Guerrilla in the room experiment.

The real reason to stay on task while driving is to protect your most important and limited resource: Your Attention. And your safety.

Honor others…you’ll be a better Person for it

To give a person Honor it means we pay them tribute or regard them with high respect.

All people are worthy of Honor. We all have special gifts and talents worthy of Honor. Sadly, society usually only Honors people for what they do rather than for who they are.

Honor your partner and they will respond in kind

Honor your kids and they will excel

Honor those you disagree with and you will have less strife

Honor your clients and they will be your loyal advocates

Honor all people because each one of us is worthy of Honor.

Home Plumbing Basics

If you own your own home or event rent it’s important to know some basics. Doing a few things will prevent serious water damage to your flooring, walls and personal belongings.

First, know where to find your water main. It is the main supply line to your house. If you have a big water leak this is the first valve to shut off. You also turn this line off when fixing leaky faucets or replacing a toilet.

Second, know where your sewer line clean out is located. This is the pipe that allows you to get to main sewer line. Here you can fix blockages or do routine maintenance. You can usually find it near your property line, in some cases it’s in the basement.

Third, know where your water supply valves are. The washing machine, toilets and sinks normally have a water supply line that allows you to turn off water for that particular spot.

Finally, own a snake or auger to fix simple pipe plumbing issues. Have plumbers putty handy when fixing leaky faucets or replacing water valves.

Feelings of Superiority ( why humbleness will serve you better)

  • Most of us love Superman and other superheroes. I think our fascination comes from seeing them as superior in agility, speed or strength. They all have another positive trait in common. They care about the well being of others and use their powers to serve.
  • We too can be smarter, faster or have special skills and abilities that can make us stand out above others. We have the responsibility of using our gifts and talents wisely. Not doing so can lead to feelings of superiority.

    Acting as if we’re superior to others, will lead to the downfall of a leader. Having more education, being smarter or having a higher position in an organization can cause a person to have feelings of Superiority.

    Behaving in such a way, will cause a person to lose influence with family, friends and co-workers. People who behave this way are difficult to deal with, they tend to be demanding, prideful and not open to coaching from others.

    No matter how smart or successful you become, there’s always someone smarter or more successful. Remember where you came from before becoming successful. Be patient with others and invest in others to teach them what someone taught you. Success breeds success and increases your influence.

    Protect Your Employees and Your Business

    Owning a small business requires hard work and dedication. If requires many long hours and sacrifice. For many, it is very rewarding financially.

    Not a single business can thrive on the efforts of one person alone. Most businesses require the effort of several people, meaning employees. It beckons to say that employees are a critical asset to any successful business. Yet, too often small employers fail to provide workers compensation insurance to protect their employees or their business.

    Workers Compensation is no fault insurance which pays medical bills related to on the job injuries or work related illness. Having this type of insurance is the law in most states. Not having it can cost severely in fines and not to mention the loss of ability to do business.

    Don’t hedge your bets. Protect your business, your employees and avoid legal fees.

    For more information or a quote, visit my website: Frank Moreno Agency- Farmers Insurance

    Change to Survive

    As clients needs and desires change it’s important to adapt and make changes necessary to meet your clients needs. We’re in business to serve our clients, yet we have to know when the relationship is mutually beneficial.

    Amazon continues to thrive and maybe at expense of US Service. The US Postal service has historically struggled to keep up and in 2018 had big losses inspire of 10% increase in packages mailed.

    US Postal Service Revenues drop over $3.8 M

    FedEx and UPS charge Amazon $7-$8 for shipping while US Postal Service only charges $2 a package. It’s time the US Postal service closely looks at their relationship with Amazon. Are they being charged enough fees in shipping charges? Does US Postal Service need to rethink its retirement program?

    Giving and Receiving

    Giving others is great and we should want to help others who need emotional, financial or any other form of support.

    Receiving is just as important. Many if us spend a lot of time giving and trying to get others to like or approve of us. We think if you take care of me, I will take care of you.

    I have come to see that I have to take care of me first, so I can offer the best to another person. The other person has to take care of themselves, to offer their best for me.

    To offer our best, we have to create inner peace. We do this by learning to like and love ourselves first. We can never give what we don’t have. When we like and love ourselves we, can then give ourselves to others.

    Does Home Owners Insurance Cover Theft

    Home Owners insurance policies will cover your personal property if it’s stolen inside or outside your home. Examples: Your riding lawnmower is stolen from your garage, you’re taking a walk and you’re robbed of your iPhone. Items stolen from your car, like a laptop would also be considered personal property and covered.

    Most Home Owners policies have a deductible of $500 to meet. You would only be able to file claim if items stolen are with more than the $500. Certain items like cash and jewelry have limited amounts you are insured for. Limit on cash is usually $200 and Jewelry $2,000.

    For a high-value items like jewelry and guns most homeowners policies allow you to purchase an endorsement that will increase the limit how much you are insured for.

    It’s also important to know whether your personal property is covered at actual cash value or replacement cost value. Actual cash value reimburses you for the amount the damaged or stolen item is currently worth. Replacement cost value reimburses you for the amount it would cost to replace the same exact item in the current economic market value.

    Finally, people listed under your homeowners policy will also be covered against theft. This includes your spouse, children, or anyone identified on the policy. Coverage extends to your child, when they are living on campus and attending college. Once your child or family member moves into their own home, the personal belongings will no longer be covered under your homeowners policy.

    Old Friends

    Old Friends are always a blessing and they’re like family. We all have friends or acquaintances but when you have friends whom you truly connect with, that’s a true blessing.

    Just yesterday we had lunch with our old friends and we spent hours talking and catching up. As we shared our life experiences, it’s like we never missed a day since we last saw each other. . .We feel comfortable and glad to let our friends know about our personal joys and difficulties. They understand us. Most of all they love and care about us.

    A true friend is closer than a brother or sister. If you’re blessed to have such a friend(s), considered yourself blessed and loved and cherish the time you spend together.