Route 422 Business Advisor

From the Editor's desk at Route 422 Business Advisor — Relevant news and information of interest to business owners and operators along the Route 422, Route 100 and Route 30 corridors in Southeastern Pennsylvania. Please visit www.422bizmag.com

 

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Do you have a Roth IRA? Should you have a Roth IRA?

Greg Koch's picture

The Roth IRA is celebrating its 20th Anniversary. It started January 1st 1998.

The Roth IRA is growing stronger than ever. You may be already reaping the tax benefits of owning your own Roth IRA or, did you hesitate to open one?

Here are 20 ROTH IRA Facts you need to know:

SEO vs. PPC

Assuming you have a website, your 24/7, three-hundred-and-sixty-five day per year online brochure is up and running. The question is what now?

This article will attempt to educate the reader on the advantages and disadvantages of Search Engine Optimization and Pay-Per-Click.

Both have their advantages and disadvantages. Both will require a monthly investment, in either time, effort and the pocketbook.

Search Engine Optimization (SEO)

Why Mobile Marketing Needs to be Part of Your Digital Marketing Strategy

The hype and fanfare surrounding the recent introduction of the iPhone 8 and iPhone X are proof that smartphones are an integral part of our lives.

According to comScore, an American media measurement and analytics company, smartphone penetration in the United States has crossed 80 percent in 2016. When the iPhone was launched in 2007 only six percent of the population had a smart phone!

Cash Management: Enhance your financial position and take control of your finances

A fundamental building block of financial planning is cash management. Effective financial planning requires the accurate examination of cash inflows and outflows and the examination of assets and liabilities. The process of monitoring and examining cash flow allows people to prioritize and address financial goals and monitor progress. 

Cash Inflows: Sources of Funds 

• General income sources, for example, salary, wages, bonuses, commissions, alimony, child support, rents, royalties or trust distributions. 

Tax Reform Proposal Unveiled

Greg Koch's picture

The much-anticipated Republican proposal for tax reform has been released in the form of the Tax Cuts and Jobs Act, an over-400 page long major rewrite of the Tax Code.

Individual Retirement Accounts

IRA rules are left largely untouched by the Act. Contribution limits and requirements are unchanged, stretch IRAs remain in place, and favorable treatment for Net Unrealized Appreciation remains available as before.

Health Insurance: Executive Order

On October 12, 2017, President Trump signed an Executive Order. What does this mean for health insurance? What changes will take place in the health insurance market now? What changes might happen to health insurance in the future?

What If You Could Pay Health Care Costs in Retirement with Tax-Free Dollars?

Greg Koch's picture

As medical expenses continue to increase, planning for them in retirement takes on greater importance.  One approach is to shift thinking of the Health Savings Account (HSA) as an account to defray medical expenses annually to an account with pre-tax dollars and tax-free earnings to defray medical expenses years from now in retirement.

Consider this planning strategy to help insulate your lifestyle dollars from medical expenses:

• Fully fund an HSA to the maximum annual contribution allowance, potentially to age 65.

Processing Workplace Incidents

In the last article, we reviewed Workers’ Compensation file basics. In this article, we are looking at processing workplace incidents. Workplace incidents include workplace accidents and "close-calls." There were approximately 2.9 million non-fatal workplace injuries and illnesses reported by private industry employers in 2015, which occurred at a rate of 3.0 cases per 100 equivalent full-time workers, the U.S. Bureau of Labor Statistics reported. The Bureau of Labor Statistics also reports that more than a dozen workers died every day in American workplaces in 2013.

Change: Ability to Say What You Think II

In a stunning development Big Tech, which monitors every word posted on their site, now gives "hate speech” waivers. So, it is now okay to advocate death for the President of the Russian Federation. I believe that giving the so-called "hate speech" a waiver invalidates the entire theme of "hate speech” as we know it. The modified definition would condemn "hate speech” but allows it if Big Tech says it is okay.

Recognizing Spatial Separation Resulting in Racial Segregation

There is a spatial separation of minorities in Chester County. Minorities are not evenly distributed throughout the county. The information in this column is from a National Institute of Health (NIH) study which was published and later interpreted in a book by Massey and Denton in 1993. I gleaned the information from that book.

Three Tips for Better Video Conferencing: How to Look Like a Pro

Sitting in front of a webcam for hours a week is now normal (both for business meetings and personal calls, like virtually celebrating someone’s birthday). Making a good impression during a video call is important, which means figuring out how to appear presentable on your colleagues’ laptop screens, and learning the importance of camera angles, a good internet connection, and clear, understandable audio.

Want to master video conferencing? Here are our three tips to help you video call like the professional you are:

Change — The Isolation Blues

Life in America has changed for a while. Now we know how people encountering the black death (Plague) felt.  When in school, we were all freaked out about learning about the Plague; the teacher said to us, "now it is not a problem we have antibiotics." Time is a cure-all, both in memory and in science. 

Change in Habits

Change has hit the world.  The Coronavirus has everyone in hiding. There has been a necessary change in the way we live our lives. All of the challenges and reactions around the virus are certainly dominating the news.  The body counts, and the local effort will no doubt dominate the headlines for the near future, as no sports, no concerts or entertainment events will be happening. 

Recognizing a Cyberattack: Save Your Data by Looking for These Signs

It may not have hit the headlines like the Coronavirus or election season, but the United Nations recently suffered a major security breach. A vulnerability in their system — caused by a failure to patch a known problem! — was exploited by hackers to hit a variety of targets world-wide. What does the fact that the UN is lagging behind on necessary cybersecurity precautions mean for the rest of us?

The Gold Whistle Award

In August of 1963 I entered the Freshman Class at Lock Haven State College to pursue a degree in Health and Physical Education. At Freshman orientation, we were made aware of a prestigious award that was presented each year to the outstanding Male and Female graduating Physical Education Major. This award was based on academic achievement, participation in sports, clubs and extracurricular activities and finally a vote of faculty members and the other PE Majors. It was like the Academy Awards of Physical Education and a lofty goal to culminate four years of a College Education.

Lead Like a GOOSE

There have to be thousands of resources out there on the topic of Leadership. I have accumulated a library of my own and have used them frequently over my 50 years of being in business. However, about 15 years ago my wife and I were browsing through an antique store and I found an old picture frame with a picture of a gaggle of geese flying in formation. Under the picture was an interesting story about why geese fly in formation and I couldn’t help not to see a correlation between their story and a very important, but sometimes overlooked, role of a great leader — Sharing Responsibility.

A Few “Take Homes” After 50 Years in Business

If someone had of asked me 50 years ago, “Why are you going into business for yourself and what do you expect to get out of it?”, I probably would have responded, “ Because I want to be my own boss and I want to control my future.” Fifty years later, I can honestly say, my journey was far more than being my own boss, and the future turned out totally different than I expected. Actually, What I have learned about myself and, what the real meaning of being a “boss” was, totally changed my life.

Change in the Way Americans Interpret the Past

Change is random. One might say that one random event leads to another. Recently something happened that gave me pause, as the Philadelphia Flyers removed the statue of Kate Smith as part of an effort to respond to people outraged that she sang a song in 1931 which had racist lyrics. 

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