Four Insurance Saving Tips

1) Contact your agent when you retire or get laid off and stop driving 20 miles or more to and from work. There is a discount for driving fewer miles

2) Insure your identity. It is available as a rider on many homeowner policies for about $25. Your insurer will work with police and credit bureaus to restore your name, and, reimburse costs related to restoring your credit.

3) Save around $100 per year with some insurance companies by installing a tracking device to monitor your driving habits.

4) Before you file a claim, talk with your agent to make sure it is valid. Some things are not covered and a bad claim in the database could make it tougher to file a later claim

2018 Tax Alert : Rental Real Estate by Paul Ferraresi

The newly implemented Tax Law for 2018 through 2026 has some marvelous benefits for individuals. True , what the Government “Giveth” the Government “Taketh” away.
Namely, with any new tax savings in an area one pays taxes in another area.

For most Americans the “SALT” (State, local, sales and property tax deduction)limitation of $10,000 will be hurtful .

Be Aware!!!! If you own rental property and report it on Schedule E, there are new limitations. If you have Schedule E losses , then, those losses begin to Phase Out at incomes of $100,000. The losses are completely Phased Out at $150,000 of income. See your tax advisor( not Turbo Tax) on how to restructure ownership of these properties to keep your liability protection in place while allowing these passive losses.

An exception to this rule applies to Real Estate Professionals and Developers.

WHILE YOU ARE AWAY, CYBERCRIMINALS WILL PREY by Paul Ferraresi

Travel seems to be on everyone’s calendar. Whatever your travel plans, you can address the cybercrime safety and security issues by reviewing the following checklist.

A SAFE-TRAVEL CYBER CHECKLIST

Don’t discuss travel plans on social media. Do not post travel dates or itineraries, and warn your children not to share their own or their parents’ travel plans – and never reveal when no one is home.

Be wary of public Wi-Fi. You should always use secure connection when going online in public places.

Be careful getting cash and making payments. Be cautious of where you make payments or get cash, since these are the key access points for identity theft among cybercriminals. Using ATMs at a bank branch is safer than using standalone ATMs, and using a credit card for merchandise purchases is safer than using a debit card, which provides direct access to a bank account.

Turn off home computers. The ‘always-on’ computers are more susceptible to hacking.

Back up all data. Storing all sensitive files in a secure facility on the cloud is recommended, as is backing up data onto a removable storage device that can be kept in a home safe.

Change passwords. If you are taking an iPhone on a trip it is suggested that you change your Apple ID password to something long and difficult to hack and turn on the lock-screen passcode.

Register for the Smart Traveler program. The State Department’s Smart Traveler Enrollment Program (STEP) at https://step.state.gov/ is a free service that allows citizens traveling abroad to enroll their trip with the nearest U.S. embassy. Enrollment enables embassies to reach travelers in an emergency, as well as help family and friends contact the travelers.

Protect the home while away. If you will be gone for any period of time you should take the following steps to protect their homes from cybercriminals: Alert the home alarm provider so they will know the house is vacant; ask your alarm company if they offer an encryption tool for their home security system to make it less vulnerable to hackers; disconnect the garage door opener and lock it manually to protect from criminals who can crack the electronic code; and unplug any devices or appliances connected to the internet.

WHEN YOU NEED CASH QUICK Recommended by Paul Ferraresi

People are always looking for quick ways to bring in cash. Here is an article from Jean Chatzky that may help you.

(If link does not function…copy and paste into your browser)

http://www.aarp.org/money/budgeting-saving/info-2017/get-cash-quick.html

The Next Major Stock Market Correction by Paul Ferraresi

Sure , this market can continue upward for a while longer, but, forces are against it going upward forever( Remember trees do not grow to the sky).
Stock P/E ratios ( price/ earnings) are at super high levels, earnings at many companies are leveling off, and, interest rates are on the rise. These are all the same factors that took place prior to the 2000 and 2007 massive market corrections.
I am not saying you need to immediately move into cash. Rather, there are superb strategies you can employ ( for your personal monies, IRAs and 401k/403b) to avoid 80-90% of the correction while obtaining 80-90% of the rise. Contact me at…paul@fgmci.com….if you want more information