Tehachapi's Online Community News & Entertainment Guide
Tehachapi's Online Community News & Entertainment Guide
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Real estate investment trusts (REITs) can offer a consistent income stream that is typically higher than Treasury yields and other stock dividends (see chart). A qualified REIT must pay at least 90% of its taxable income each year as shareholder dividends, and unlike many companies, REITs generally do not retain earnings, which is why they provide higher dividend yields than most other stock investments. You can buy shares in individual REITs, just as you might buy shares in any publicly traded...
As your electric bill continues to grow, we can get you a new roof and solar panels for the same monthly price, with back up batteries! That’s right, no more high electric bills, no more peak hours and a new roof that will last 30-50 years, plus solar panels with back up batteries that you own. Zero down and financing as low as 3.99%. Go to www.getsolartoday.energy for your free custom report. Scroll down to click on the three easy steps that will explain the process and how easy it is to save money. Call owner Darren Sauro with Get Solar T...
It's hard to believe the Holidays are upon us again! Sitting around the Thanksgiving dinner table, often children will ask their parents the "what if?" question. We all know what that is. "How do you want your estate handled?" Follow along with me as we discuss common questions. What is better, a will or a trust? A trust will streamline the process of transferring an estate after you die while avoiding a lengthy and potentially costly period of probate (in California if you have assets like a...
If your children are grown and your mortgage is paid off, do you still need to carry life insurance? It depends on your situation, but for many people, a cash-value life insurance policy, such as whole life or universal life, can be a valuable, tax-efficient source of retirement income. And by drawing on the cash value of your policy, you might be able to temporarily reduce the amount you take out from your retirement accounts, such as your IRA and 401(k). This ability could be especially...
Here are some things to consider as you weigh potential tax moves before the end of the year. Set aside time to plan Effective planning requires that you have a good understanding of your current tax situation, as well as a reasonable estimate of how your circumstances might change next year. There's a real opportunity for tax savings if you'll be paying taxes at a lower rate in one year than in the other. However, the window for most tax-saving moves closes on December 31, so don't...
Once again, it's the season of generosity. In addition to considering gifts for your loved ones, you might want to think about charitable gifts as well. But what should you know before making gifts to charities? And what impact might these gifts have on your financial and tax situation? First, you may want to create a gift budget by deciding just how much you will give to charitable organizations over the rest of the year. Next, look closely at the groups to whom you wish to contribute. You can...
Financial worries are often cited as a major source of stress. For example, a 2021 study found that even before the pandemic and subsequent economic downturn, a majority of Americans said they felt stressed or anxious about their finances. Similarly, in 2022, research revealed that more than seven out of 10 financial planning clients experienced financial anxiety more than half the time. What causes financial stress? Lack of assets and/or income is certainly one reason. Another might be the...
It is hard to believe it is fall again in Tehachapi. Soon it will be Thanksgiving and then Christmas! Have you been thinking about Estate Planning? I know it can be a difficult topic...but your children will be happy you have thought ahead to make it easier to take care of your estate without a probate. What is better, a will, or a trust? A trust will streamline the process of transferring an estate after you die while avoiding a lengthy and potentially costly period of probate (in California...
If you've invested in an IRA for many decades, it may well turn into a key source of income for your retirement. Still, you might not deplete your IRA in your lifetime, especially if you also have a pension or a 401(k) and other investment income. So, if your IRA still has sizable assets after your passing, it would likely end up in your estate plan. If you leave your IRA to grown children or other family members, could they be hit with a big tax bill? Here's a little background: Up until the Se...
A sound retirement plan should be based on your particular circumstances. No one strategy is suitable for everyone. Once you're retired, your income plan should strive to address four basic objectives: earn a reasonable rate of return, manage the risk of loss, maintain a source of sustainable and predictable income, and reduce the impact of taxes. Earn a reasonable rate of return Your retirement savings portfolio will likely be used to provide at least a portion of your income throughout...
Race Communications, the leading provider of fiber-based broadband and communications in California, continues to bridge the digital divide by launching the Affordable Connectivity Program (ACP) for its new and existing customers. The adoption of this program follows Race’s mission to bring fiber internet to underserved communities throughout California. In this digital age, staying connected is a necessity. The Affordable Connectivity Credit can be applied to an exclusive ACP package in which eligible individuals will receive a plan for 1...
Paying for health care can be challenging - but are you taking full advantage of all the resources available to you? You might have access to a Health Savings Account (HSA) or a Flexible Spending Account (FSA), so let's look at both. An HSA is a personal savings account used to pay health care costs. If you're enrolled in a high-deductible health plan, you also may be eligible to contribute to an HSA. You aren't taxed on the money you put into this account or on the earnings generated from your...
I know I'm a nag. I nag because it's so important to plan now for your family when you die. It's not that we plan to fail, we fail to plan. So what happens to your children when they inherit the family home that is in a trust? A step-up in basis resets the cost basis of an inherited asset to its market value on the decedent's date of death. Example: Dad dies and has a house that is owned by a revocable trust. He bought the house for $100,000 in 1970 and transferred it to his trust. Dad has died...
In the simplest cases, those in which there are no difficult creditor claims, disputes over ownership of assets or arguments against a will, probate often goes smoothly. It occurs in seven phases, and if there are no complications that require additional phases, the system proceeds as follows. 1. Locate the will. 2. Obtain certified copies of the death certificate. Banks and other institutions will want copies. 3. Probate administration requires filing a petition for probate, which usually...
If you own a small business or are self-employed, you've always got plenty to do, but you can't forget about the days when you'll be less busy - that is, when you're retired. How can you prepare for that time of your life? One key step is establishing a retirement plan for your business or yourself. And thanks to the 2022 SECURE 2.0 Act, you can now receive tax credits for opening and administering a 401(k), SEP-IRA or SIMPLE IRA. These aren't the only plans available for small businesses or...
In December 2022, Congress passed the SECURE 2.0 Act. It introduced two new rules relating to 529 plans and student debt that will take effect in 2024. The first provision allows for tax- and penalty-free rollovers from a 529 plan to a Roth IRA. The second provision allows student loan payments made by employees to qualify for employer retirement matching contributions. 529 plan to Roth IRA rollover 529 plans are tax-advantaged savings accounts specifically geared to saving for college. In an...
For the second consecutive year, through California's Universal Meal Program, all students will be served breakfast and lunch at no charge during their school day, KCSOS and Kern's 46 public school districts announced. Free and reduced-price meal applications, or other applications to determine student eligibility, may still be sent to households by local school districts for the purposes of other local school funding and program eligibility determinations. The eligibility determination from...
If you own a business, you've always got a lot on your mind. But no matter how busy you are today, you need to think about tomorrow. Specifically, you'll want to create an exit strategy for the day you want to move on from your business to a new phase in your life. To develop this strategy, you'll need to address these key questions: • How much do you need (or want) for your business? Ideally, you'll want the sale of your business to meet your retirement and estate-planning goals. So, you'll n...
The cost is the worst part of a probate. When property passes through full probate, the estate will incur attorney's fees, court costs and potentially other expenses, all of which can be quite substantial depending on the size and nature of your estate. Attorney fees are generally set by state law and are usually based on the market value of the assets in the estate being probated, exclusive of any debts or loans associated with the asset. If you own real estate in California or your estate...
As your electric bill continues to grow, we can get you a new roof and solar panels for the same monthly price, with back up batteries! That’s right, no more high electric bills, no more peak hours and a new roof that will last 30-50 years, plus solar panels with back up batteries that you own. Zero down and financing as low as 3.99%. Go to www.getsolartoday.energy for your free custom report. Scroll down to click on the three easy steps that will explain the process and how easy it is to save money. Call owner Darren Sauro with Get Solar T...
If 2023 has been financially challenging, why not take a moment to reflect on the progress you've made and the setbacks you've faced? Getting into the habit of reviewing your finances midyear may help you keep your financial plan on track while there's still plenty of time left in the year to make adjustments Goal overhaul Rising prices put a dent in your budget. You put off a major purchase you had planned for, such as a home or new vehicle, hoping that inventory would increase and interest...
In a fundamental sense, estate planning is about control. With an appropriate estate plan in place, you, not the courts (or anyone else you would not choose), decide who will have control of the distribution of your assets and make financial decisions on your behalf in the event of your death or disability. You can also arrange who will make decisions about your medical care and end-of-life issues, or about who will have legal custody of your minor or disabled children. Properly structured, an...
When you're retired, you'll likely have some financial concerns - just like all retirees. However, if you've invested regularly and followed a long-term financial strategy, you should be able to address most issues that come your way. But there's one important action that's sometimes overlooked by retirees: sharing their financial situation with their grown children. And this knowledge can benefit everyone in your family. You might be surprised by the concern your children have for your...
How long will you live? Of course, your longevity is somewhat unpredictable. But it may be a good idea to plan for a long life - and the financial issues that go along with it. It's reasonable to think you've got a long way to go. In fact, 72% of retirees now think they will live longer than their parents, according to a recent survey from Age Wave and Edward Jones. Their optimism may be justified: A 65-year-old woman can expect to live almost 20 more years, while a 65-year-old man can...
It's hard to believe we are in the middle of summer! Now is the perfect time to get your estate planning in order. Don't let another year go by without a plan. What is better, a will or a trust? A trust will streamline the process of transferring an estate after you die while avoiding a lengthy and potentially costly period of probate (in California if you have assets like a house, and it is worth more than $185,000, there will be a probate in most circumstances). However, if you have minor...
