By David Lukas If you are a business owner, partner, or independent healthcare professional, you’ve probably felt the sting at tax time. There are many business structures under which you can organize. The two most common are a Limited Liability Company and an S-Corp. Both of these entities are “flow-through” concerning taxation, meaning that all … (Read more)
David Walker. Does that name ring a bell? David Walker served as the comptroller general of the federal government. What does that mean? It means he was the head of the government accountability office. He was the equivalent of the CPA of the United States. He did it for ten years under Bush and Clinton. … (Read more)
(Originally Published in The Healthcare Journal of Little Rock, by David Lukas) We’ve all heard the adage, Nothing can be certain in this world except death and taxes. This statement is certainly apropos when it comes to taxes concerning your retirement savings. Most people who plan for retirement take advantage of government-approved “Tax Savings Plans,” or … (Read more)
Maximizing Social Security is an integral part of a reliable retirement income game plan, yet higher than 90% of claimants do not maximize their benefits. There are over 2,728 rules in the Social Security Administration’s handbook and thousands of more regulations about those rules in the Program Operating Manual System. It is no wonder there … (Read more)
The other day I caught a popular Financial Radio Show host say that anyone who buys whole life insurance is getting ripped off and is being taken by a scam artist. This radio personality often claims that anyone that sells these products are “scum of the earn”. This is a pretty bold statement for someone … (Read more)
Who’s Supporting You In Retirement? Part 1… Not that long ago, we could count on the support our employers provided in retirement. With Social Security’s future uncertain and the ever-growing decline of pension plans (Defined Contribution Plans), the rise and the popularity of defined contribution plans (Primarily 401k’s) who should you be putting your faith … (Read more)
In relation to retirement, never before has the old adage, “you can’t get something for nothing,” been more poignant than when referring to the seemingly “too good to be true” perks of the 401k. Since the early 1980s, the government has sold Americans on why relinquishing control over their money and taking huge risks in … (Read more)
Unfortunately, most folks never do this. If you are worried about retirement, chances are you have no vision of what it is you really want. If you don’t have a clear vision of where you are going, it’s due to one of two reasons: you don’t care, or no one has taught you how to … (Read more)
MISTAKE NUMBER 1: PAYING TAXES ON THE SAME DOLLAR MORE THAN ONCE (You can read all 7 mistakes by getting your hands on a copy of: Don’t Follow The Herd) It has been said that great mastermind, Albert Einstein, once referred to compound interest as the “eighth wonder of the world.” If that’s true, then … (Read more)
My Granddad was born in 1912. Twenty years later, he landed his first “real” job climbing telephone poles for the local phone company. Granddad would continue to work for the same company until his retirement in 1978. During the many years I spent with Granddad; particularly after he retired from work, I rarely heard him … (Read more)