Tax Planning Questions

Am I employed or self-employed? Should I file single or join tax returns? Does it make sense to form a corporation? If so what type of corporation should I form? Should I itemize my deductions? What are the new Medicare SurTax rules? Do I have to pay for this new tax? If so how do I manage it so I don't have to pay it? What's short term and long term capital gain tax? Which one am I paying? Why is my long term capital gain tax is over 20% where my friends are only paying 15%? How do I lower my long term capital gain tax? How is my social security and healthcare tax calculated? I'm a W2 person, how do I reduce my tax liabilities other than my mortgage interests and 401k contributions? Are there investments that can help me reduce my tax liabilities? I'm self-employed with a few employees, are there ways I can put much more money away other than having a SEP IRA, Simple IRA or 401k plan? How do I lower my tax bracket? Will tax eventually go up or down? What's the difference between long-term capital gain tax vs short-term capital gain tax? How do I go from STC to LTC and save on taxes? How will my charitable donations benefit me and others? Am I violating the gift tax rule? Do I need to pay tax when I'm dead? How do I manage that so my heirs will get the maximum assets I pass on to them? 

Insurance Planning Questions

I have a life insurance policy, how much insurance do I have? Why did I buy it? How did I come up with that insurance amount? Is it enough or too much? What company did I buy it from? How is that company doing now? When did I purchase it? Is my insurance agent still in business? Is there a newer and better product now? What type of policy is it? Term? Whole Life? Universal Life? Accidental only?  Did I purchase any riders? How does it work? Do insurance companies change their rates from time to time like car insurance? Can I get a better rate on my 5 year old insurance policy from a different insurance company? And extend my term years? Is there such a thing as forever-term? Can I get a better rate if I stopped smoking? A better cholesterol level? Lost a few pounds? Can I keep my  insurance policy through my employer if I lost my job? What if my new employer doesn't offer this benefit? Is it more expensive to get my own insurance when I'm older (when I’m not as healthy as I used to be or is uninsurable due to a major disease)? Is there guaranteed issue product that doesn't consider my health level? Can I get a refund at the end of the term if I don't die? Do I have to die to use the money in the life insurance? Can I take out money in my life insurance for emergency, sickness, disability, long term care needs, retirement supplement, education funding, or for whatever I want to use it for? How is the death benefit taxed? Is the cash value in my account being taxed? How can I access the cash value tax free? Can I invest in mutual funds in my insurance policy? Can I sell my insurance policy for cash?

Do I have Long-Term Disability Income insurance through work? Am I paying for it or my employer is? Can I add more during enrollment? What percentage of my income does it cover? Does it cover my base salary only or plus my commissions and bonuses? How about my stock options? Can I take my disability insurance policy with me when I leave my job? Does it make sense to purchase a supplemental policy on my own? Can I still get it after I leave my job and maintain the same rate? How long does my disability insurance policy cover me for? How long do I have to wait until my benefit kicks in? How do I qualify for the claims? Does it have inflation protection? Does it guarantee that I can purchase more at the same rate even if I'm not healthy or if I changed career? Is my premium guaranteed? Can I still work part time and continue to receive benefit? Does it have survivor benefit? Do I receive benefit as long as I'm disabled? Any other benefits that I’m not aware of?

I have a Long-Term Care insurance policy, is my premium guaranteed to not increase? Has the premium increased before or will be? Does my policy allow me to write off my premiums each year? What if I don't end up using the insurance do I get anything back? Does it pay my beneficiary a death benefit if I die? Do I receive the benefit in the form of cash or reimbursement? Does it cover me forever or just a few years? Under what conditions can I go on a claim? Can my CalPERS plan go up in premiums? I don't have a LTCi policy, how will I pay for my care or my family members' care?

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Education Planning Questions

Should I consider a private elementary school through high school or own a house in a good school district? What are the cost differences? Would I rather live in a smaller house in a better school district? Do I want to pay for my kids' college expenses, such as tuition, room and board? 100% or 50%? What type of schools should they consider? State? UC (CA only)? Private? Out of state or country? When should I start saving for college funds? What are my saving options? 529 plan? Coverdell? Savings bonds? UGMA? UTMA? Life Insurance? Regular investment accounts? Real Estate? Cash? How do these plan work and which one is better suited for me? Will these plans have any negative effects on scholarships and financial aids? Can I qualify for financial aid? What schools offer what types of aid? Public or Private? Are there free scholarship credits? If so, how do I get them? Contact us for a FREE education funding analysis!

Retirement Planning Questions

How much do I need to retire? Am I saving enough to eventually retire comfortably? Is there a gap between my social security and my retirement plans? How do I make up that gap? What if I outlive my retirement plans? What if I want to continue to work but can't due to physically incapable or because no one wants to hire me at that age? Can I rely on social security? What if what they say is true.. that social security is running out of money? What happens to my pension plan if my employer laid me off or closes down the business? Can I self fund a pension plan? What is RMD?What happens if I don't take distributions during RMD? How much am I required to take by the RMD? How much should I withdraw from my retirement plans so that they will last as long as my remaining life?  Calculate your social security benefits. 

Is it true that I will only receive 75% of my social security benefit at age 62? What's the best time to start taking my social security benefit? When will I get the full benefit? Should I take my benefits out first or my spouse's? What if my spouse has passed away? What if I have been divorced? Can I take my ex-spouse's benefit because his/her benefit is higher than mine? How many different ways are there to access my benefits and my spouse's? What's the best way out of all? Contact us for a FREE Social Security Analysis.

How much will healthcare cost me when I'm retired? Run a FREE detailed analysis.

Is there such thing as FREE money from my employer? Should I contribute to my 401k plan? How much should I contribute to it? Is maxing it out always the right answer? Can I contribute more than the max amount set by the IRS? How do I contribute to a Roth IRA if my income is too high? What other options there are that are similar to Roth IRA? How does 401k work? Taxed? Loan options? Penalized? Can I take money out of my 401k at anytime? What's Roth 401k? Why people convert their 401ks to Roth IRA? How does it work? When should I consider doing that? I don't know how to manage my 401k/403b/457 and I never look at it, can someone help me with my 401k/403b/457 investments? What's the difference between a 401k, Solo 401k, 403b, 457, Roth 401k, 401a, 409a, 412e3, Keogh, Traditional IRA, Roth IRA, SEP IRA, Simple IRA, SARSEP, ESOPs, Annuity, Payroll Reduction IRAs, Defined Contribution, Defined Benefit, Deferred Compensation, Profit Sharing Plan, etc. How do my stock options work? NSO? ISO? ESPP? RSU? RSA? What's exercising an option? When ar they vested? How do I calculate a grant? What are the tax consequences? How do I eliminate or reduce my tax liabilities? When is the best time to sell them? I'm self-employed, what retirement plan options do I have? How do I maximize my tax deductions and contribute enough for my retirement? Contact us for a FREE consultation.