Financial

SAN JOSE — Many people dread doing their taxes because they suddenly discover they owe more money than they expected or feel rushed to file all the paperwork on time. To avoid situations like these, it’s important to make sure taxes are being withheld from your income at the appropriate level and keep track of your financial records throughout the year. By taking these steps, you won’t find yourself owing more money than you anticipated, and you can reduce the time you spend on your return come tax season.

It’s important for taxpayers to monitor their withholdings throughout the year and be certain that neither too much nor too little is being withheld. Read more

SAN JOSE — Host, Sarah Rutan: When it comes to income taxes, many taxpayers overlook their yearly withholdings. Today we’re in San Jose with Diamond Certified Expert Contributor Russell Barnett, EA to learn how you can avoid this.

Diamond Certified Expert Contributor, Russell Barnett: I wanted to talk about withholding. To pay attention to it throughout the year; make sure that you’re not having too much or too little withheld. Nobody like a big surprise at the end of the year in terms of a tax bill. People should be aware that, oftentimes, lump-sum payment or payroll items such as bonuses, commissions, stock grants, etc. are only within federally at 25 percent. Read more

SAN FRANCISCO — Host, Sarah Rutan: A 1031 exchange can be a beneficial financial tool, but the limited time constraints can make it a difficult feat to pull off. That’s why it’s worthwhile to consider doing a reverse exchange. Today we’re in San Francisco with Diamond Certified Expert Contributor Ralph Bunje Jr. of Independent Exchange Services, Inc. to learn more.

Diamond Certified Expert Contributor, Ralph Bunje Jr.: One of the things that a lot of people have been asking about is something that has changed in the 1031 Exchange Industry. Want to keep in mind the industry has been around since 1921, but doing – but doing exchanges up until 1980, Read more

SAN FRANCISCO — IRC Section 1031 exchanges have been around since 1921, but up until 1980, you basically had to buy and sell on the same day, which made it a difficult feat to pull off. After 1984, the rules changed: exchangers now had a 45-day period following the close of escrow on a relinquished property to identify a replacement property. While this continues to be the case with 1031 exchanges today, finding the right property within 45 days can be quite challenging, especially with the complexity of today’s market.

One way to address this is with a safe harbor reverse Section 1031 exchange, which is a transaction that’s facilitated via an Exchange Accommodation Titleholder (EAT). Read more

NOVATO — Host, Sarah Rutan: Whether you have or are planning to make a legal will or trust, you’ll need to know some important guidelines regarding beneficiary designation. Today we’re in Novato with Carl Lundgren of Mitchell & Mitchell Insurance Agency to learn more.

Diamond Certified Expert Contributor, Carl Lundgren: When I’m talking about beneficiary designations, I’m talking about the people or entities that you designate on a financial document. These are the people who will receive the proceeds when you pass away. Ideally, you would have an attorney review those documents from time to time. Especially if you have a trust, because a trust, and those documents, might be inconsistent in how they ready, Read more

NOVATO — If you’ve established a will or trust, you’re probably familiar with the term “beneficiary designation.” A beneficiary is any person or entity to whom you designate control of your finances and possessions in the event that you pass away. However, when it comes to determining whom to designate on your financial documents, there are three common mistakes you should avoid:

Mistake #1: Assuming your will is the final authority. A beneficiary designation trumps what’s written in your will. In other words, if your will says one thing and the beneficiary says another, your beneficiary has the final word. So, be sure to designate a beneficiary whom you trust to respect and carry out your wishes. Read more

MENLO PARK — Host, Sarah Rutan: If you’re a small business owner, you’ll want to know whether you’re eligible for a 2015 tax credit. Today we’re in Menlo Park with Diamond Certified Expert Contributor Bob Vinal of Bay Area Health Insurance Marketing to learn more.

Diamond Certified Expert Contributor, Bob Vinal: I’d like to share a tip with how you can save your company thousands of dollars. The Affordable Care Act allocated funds for small employers to encourage them to offer their employees health insurance benefits. They want to do a dollar-for-dollar match for up to 50% of the premiums that you’ve paid. Ok, this can be a valuable benefit for qualified employers. Read more