The Software that Tells the Whole Truth about All Things Financial

Author Archives: Jason4TC

Why You Shouldn’t Retire, You Should Retool (John & Jane Jones Pt. 8 of 9)

Why You Shouldn’t Retire, You Should Retool (John & Jane Jones Pt. 8 of 9)
“I am ready to retire,”  John was quick to state at the beginning of our annual meeting. There were several things I wanted to talk to John and Jane Jones about this year since they would be soon turning 60.  But when I heard John say this, my plans for the meeting took a back seat. “Are you serious?”  I asked John.  “Do you think you are re… Continue Reading

How Much Does College Really Cost? (John & Jane Jones Pt. 7 of 9)

How Much Does College Really Cost? (John & Jane Jones Pt. 7 of 9)
John and Jane met with me regularly, mostly to touch base about their progress as they improved their financial position, or to discuss potential investments. But when their oldest son, Todd, turned 16, we met to discuss a major item that impacted their entire family. Both John and Jane were now 48 years old. During my telephone call to set a time and date for our meeting, J… Continue Reading

How to Calculate Rate of Return On A Real Estate Investment (John & Jane Jones Pt. 6 of 9)

How to Calculate Rate of Return On A Real Estate Investment (John & Jane Jones Pt. 6 of 9)
“Hello, this is John Jones.  I know we have called a number of times with ‘opportunities’ but this time I think we really have one,” John said excitedly as I answered the telephone early Monday morning before my first appointment. “That is good news,” I said.  “Do you want to tell me about it over the telephone or come in fo… Continue Reading

Saving For Kids and Avoiding The MEC Limit (John & Jane Jones Pt. 5 of 9)

Saving For Kids and Avoiding The MEC Limit (John & Jane Jones Pt. 5 of 9)
One week earlier….. “Hello, John how is your day going?”  I initially said when I called. “Just fine, thanks,” John responded.  “I know why you are calling; it has been a few years since we have been able to get together and we need to speak with you because we have been having some big changes in our family.  Jane and I have been meanin… Continue Reading

15-Year vs 30-Year Mortgage: Which is Better? (John & Jane Jones Pt. 4 of 9)

15-Year vs 30-Year Mortgage: Which is Better? (John & Jane Jones Pt. 4 of 9)
“I am so glad you two were willing to come back so soon after our third meeting,” I greeted John and Jane as they came into the office.  “There are a number of things I want to discuss with you, but before I do, do you have any questions?” “As a matter of fact, we do have something we wanted to talk to you about.  Since our meeting last week, Jan… Continue Reading

The Whole Truth About Qualified Plan Contributions (John & Jane Jones Pt. 3 of 9)

The Whole Truth About Qualified Plan Contributions (John & Jane Jones Pt. 3 of 9)
Mark Twain reportedly said that he tried to not let his schooling get in the way of his education.  I think he was describing a paradox similar to what most advisors know as the “arrival syndrome.”  Said in yet another way, your education should be an ongoing process.  Such is the case with your clients.  We recommend that you schedule regular discussions to… Continue Reading

The Myth of Zero Percent Financing for Cars (John & Jane Jones Pt. 2 of 9)

The Myth of Zero Percent Financing for Cars (John & Jane Jones Pt. 2 of 9)
Both Jane and John Jones were smiling as they walked into my office for the second meeting with them.  The first meeting had gone well and I was excited to meet with them. After a few minutes of catching up and pleasantries, I asked John, “If you were talking to a good friend and they asked what our office was doing for you, what would you tell them?” John was cont… Continue Reading

How $155 in Credit Card Debt Becomes $38,850 In Payments! (John & Jane Jones Pt. 1 of 9)

How $155 in Credit Card Debt Becomes $38,850 In Payments! (John & Jane Jones Pt. 1 of 9)
In the movie Mr. Mom, Jack (Michael Keaton) is fired from his job as an automobile engineer.  Jack’s wife, Caroline (Teri Garr) lands a job before he can, so Jack takes on what he believes is the easy job of homemaker and caretaker. The movie has many humorous scenes. One particular scene Caroline’s boss comes to pick her up for a business trip.  Jack does no… Continue Reading

How do you include the state income tax for capital gains tax?

Increase your capital gains rate box by the state income tax rate. Increase your state income tax rate is 7% and your clients’ federal capital gains tax rate is 15%, then you’ll put 22% in your capital gains rate box. Please note: there is not a federal capital gains tax deduction for the state income tax paid as there is for federal income tax.  See t… Continue Reading