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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Bigger Isn’t Better

We’ve all heard the biblical story of David, whose well-aimed stone brought down the giant Goliath. When negotiating telecom services, small companies armed with powerful negotiating techniques can do as well or better than their larger counterparts. Here are four tips to help:

1. Know what you have and what you need.

Why is Estate Planning an Essential Component of Financial Management?

Estate planning is an important part of your overall financial management strategy

because with a plan in place you will avoid unintended consequences. Certain plan documents

will assist you in your lifetime, whereas other documents will assist upon death. If you become

incapacitated, then you will have a trusted, competent person or persons that you have named to

handle your financial and health affairs. If you pass away, then your assets will be distributed per

What Is A Funeral Trust?

Greg Koch's picture

Like other major life events, pre-funding your funeral will give you peace of mind, comfort and assurance knowing that money will be there to pay your final expenses. Now, wouldn’t it be nice to have an insurance policy that is designed to do exactly that? Pay for your funeral costs, while also having the money protected from Medicaid or creditors so it will be available for its intended purpose?

How will my SURVIVORS pay for my funeral?

An Ounce of Prevention is Worth a Pound of Cure

A recent report published by Identity Theft Resource Center stated that since May 1, 2018, there have 383 data breaches across various industries including the military, financial, healthcare and others so far this year. Imagine if that is your customers’ data that was compromised

7 Things Your IRA Custodian Won’t Tell You

Greg Koch's picture

What hasn’t your IRA Custodian told you?

It is important to know what your IRA custodian will tell you and what they will not or cannot tell you. The I in IRA stands for individual and many times it is up to the individual to know things or keep track of them.

Marketing Lessons from Driveway Spammers

Every spring they appear like leaves in the fall. Unwanted, they sit at the end of the driveway in the muddy-muck left from winter. Landscapers, contractors, handymen, and asphalt companies have all latched on to a marketing technique that bears some discussion.

Here’s how it works: Print up a cheap flyer on yellow or green paper, grab some gravel or a single rock, stuff both into a plastic bag, and tie it closed. Then head for my neighborhood and litter every driveway in sight.

Tax Planning 2018: How will your tax situation be different in 2018? What is the effect of the new tax law changes on your situation?

This is the perfect time of year to do tax planning, and planning ahead provides the

greatest opportunities and benefits to you. Even before considering the new tax law changes;

determine if there will be any change to your income and deductions this year versus last year.

For example, in Tax Year 2017, did you have a large capital gain or loss, sell a rental

property for a one-time gain, get a one-time taxable distribution, or did you make a deductible

retirement plan contribution? Are you scheduled to make estimated tax payments based on last

PayPerClick–Instant Results = Big money SEO-Delayed Results = Lasts Forever

In an article written earlier for these pages, we covered how the criminal behavior at a respected news magazine read by at least three generations and, likely some millennials, when International Business Times (IBT), publishers of Newsweek, were exposed by SocialPuncher  and BuzzFeed showing how IBT, in order to secure a government advertising contract for nearly $3 million, purchased fraudulent traffic directed to their websites in order to embellish their presentation to the Consumer Financial Protection Bureau and secure the contract.

Retirement Planning - Part Three Retirement Investing and Setbacks

Whether a person has many years until retirement or it is just around the corner; investing

for long term growth is essential. In an earlier article, it was mentioned that proper balance

between the basic asset classes - stocks (equity assets) and bonds (fixed income) - helps to

decrease market risk. Essentially, the higher the allocation to high quality bonds the lower the

market risk. In addition, diversification within those basic asset classes further decreases risk and

provides the best potential for above average returns.

 

5 Steps to Building a Retirement Income Plan

Greg Koch's picture

Modern thinking has taught us that, as the average life expectancy continues to climb (Could age 90 be the new 70?), our real concern should be more than a magic number for retirement savings. It should be creating a retirement income plan that ensures we will have income in retirement that lasts as long as we will.

By building a strong foundation of assets and implementing strategies first to grow them, then to protect and preserve them, you are setting yourself up for retirement income success. Here are some key steps that will help you get there.

Bigger Isn’t Better

We’ve all heard the biblical story of David, whose well-aimed stone brought down the giant Goliath. When negotiating telecom services, small companies armed with powerful negotiating techniques can do as well or better than their larger counterparts. Here are four tips to help:

1. Know what you have and what you need.

Why is Estate Planning an Essential Component of Financial Management?

Estate planning is an important part of your overall financial management strategy

because with a plan in place you will avoid unintended consequences. Certain plan documents

will assist you in your lifetime, whereas other documents will assist upon death. If you become

incapacitated, then you will have a trusted, competent person or persons that you have named to

handle your financial and health affairs. If you pass away, then your assets will be distributed per

What Is A Funeral Trust?

Greg Koch's picture

Like other major life events, pre-funding your funeral will give you peace of mind, comfort and assurance knowing that money will be there to pay your final expenses. Now, wouldn’t it be nice to have an insurance policy that is designed to do exactly that? Pay for your funeral costs, while also having the money protected from Medicaid or creditors so it will be available for its intended purpose?

How will my SURVIVORS pay for my funeral?

An Ounce of Prevention is Worth a Pound of Cure

A recent report published by Identity Theft Resource Center stated that since May 1, 2018, there have 383 data breaches across various industries including the military, financial, healthcare and others so far this year. Imagine if that is your customers’ data that was compromised

7 Things Your IRA Custodian Won’t Tell You

Greg Koch's picture

What hasn’t your IRA Custodian told you?

It is important to know what your IRA custodian will tell you and what they will not or cannot tell you. The I in IRA stands for individual and many times it is up to the individual to know things or keep track of them.

Marketing Lessons from Driveway Spammers

Every spring they appear like leaves in the fall. Unwanted, they sit at the end of the driveway in the muddy-muck left from winter. Landscapers, contractors, handymen, and asphalt companies have all latched on to a marketing technique that bears some discussion.

Here’s how it works: Print up a cheap flyer on yellow or green paper, grab some gravel or a single rock, stuff both into a plastic bag, and tie it closed. Then head for my neighborhood and litter every driveway in sight.

Tax Planning 2018: How will your tax situation be different in 2018? What is the effect of the new tax law changes on your situation?

This is the perfect time of year to do tax planning, and planning ahead provides the

greatest opportunities and benefits to you. Even before considering the new tax law changes;

determine if there will be any change to your income and deductions this year versus last year.

For example, in Tax Year 2017, did you have a large capital gain or loss, sell a rental

property for a one-time gain, get a one-time taxable distribution, or did you make a deductible

retirement plan contribution? Are you scheduled to make estimated tax payments based on last

PayPerClick–Instant Results = Big money SEO-Delayed Results = Lasts Forever

In an article written earlier for these pages, we covered how the criminal behavior at a respected news magazine read by at least three generations and, likely some millennials, when International Business Times (IBT), publishers of Newsweek, were exposed by SocialPuncher  and BuzzFeed showing how IBT, in order to secure a government advertising contract for nearly $3 million, purchased fraudulent traffic directed to their websites in order to embellish their presentation to the Consumer Financial Protection Bureau and secure the contract.

Retirement Planning - Part Three Retirement Investing and Setbacks

Whether a person has many years until retirement or it is just around the corner; investing

for long term growth is essential. In an earlier article, it was mentioned that proper balance

between the basic asset classes - stocks (equity assets) and bonds (fixed income) - helps to

decrease market risk. Essentially, the higher the allocation to high quality bonds the lower the

market risk. In addition, diversification within those basic asset classes further decreases risk and

provides the best potential for above average returns.

 

5 Steps to Building a Retirement Income Plan

Greg Koch's picture

Modern thinking has taught us that, as the average life expectancy continues to climb (Could age 90 be the new 70?), our real concern should be more than a magic number for retirement savings. It should be creating a retirement income plan that ensures we will have income in retirement that lasts as long as we will.

By building a strong foundation of assets and implementing strategies first to grow them, then to protect and preserve them, you are setting yourself up for retirement income success. Here are some key steps that will help you get there.

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