Category: business planning

Financial Planning Considerations Under Joe Biden’s Proposed Tax Plan

With the U.S. presidential election only a few weeks away, it’s timely to evaluate the details of Joe Biden’s tax plan, the potential implications and some strategies that might be worth considering.

Before we begin, it’s worth noting that even if Biden is elected, his tax plan becoming a reality would likely hinge on Democrats also gaining control of the Senate this November. And, even if that occurs, it could prove difficult to increase taxes if the 2021 economy is still fragile due to COVID-19. With that said, it is prudent to understand what the tax implications might be so we can evaluate which planning strategies could be beneficial in advance.

Income Tax Impacts

If you earn more than $400,000 per year, Biden’s income tax plan would negatively impact you in several ways:

  • Under Biden’s plan, the top tax bracket, which is currently $622,051 for married couples filing jointly

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Transamerica Grows Retirement Plan Business With Newly Created Pooled Employer Plans

BALTIMORE, Oct. 14, 2020 /PRNewswire/ — Transamerica announced today that the company has been selected to be a retirement plan recordkeeper of the Lockton Northeast (NE) Series pooled employer plan. Lockton is a global professional services firm and the world’s largest privately held independent insurance broker. Pinnacle, an NPPG Company, will serve as the third party administrator and NPPG Fiduciary Services as the Pooled Plan Provider (PPP). This collaboration is a new milestone in Transamerica’s pioneering history in pooled retirement benefit plans, encompassing nearly two decades of advocacy and specialization.

To support the new Lockton NE Series pooled employer plan, Transamerica will leverage its pooled retirement plan experience. Transamerica can offer a flexible plan design to each adopting employer in the pooled plan, enabling employers to customize their retirement plan’s design elements based on employees’ needs. Transamerica also offers specialized recordkeeping specific to each adopting employer in the pooled

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Five Tips For Building A Strong Team In Your Small Business

Business Coach and developer of Chironomics, a coaching program that provides business support, strategies, and systems for Chiropractors.  

The saying, “No man is an island,” holds true in business. After all, it is impossible to do everything by yourself. The sooner you recognize this, I believe the closer you get to achieving any goal you set for your company.

That said, while two heads are always better than one, having the right two minds is imperative. Building a dynamic team, both externally and internally, is the cornerstone of any successful business. For your company to experience significant revenue, you need help. These five tips keep me on pace in my business as I continue to build my team:

1. Create a hiring plan.

You must have an effective plan of action when building your team. Onboarding new members can be a challenging process, and hiring the wrong people

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McConnell slates October revote on relief plan

For her part, Pelosi issued a statement again criticizing Trump for caring chiefly about the direct payments.

“A fly on the wall or wherever else it might land in the Oval Office tells me that the President only wants his name on a check to go out before Election Day and for the market to go up,” Pelosi said in a letter to her colleagues.

She defended her hardline position on a Tuesday conference call with fellow Democrats, claiming Democrats have more leverage than ever. But the risk of emerging empty-handed until next year appears very real.

To recap, talks on the latest potential round of COVID relief began in July, collapsed in August, and were revived last month. Last week alone saw Trump cause the talks to collapse on Tuesday, only to revive them heading into the weekend. They then cratered again on Saturday after Trump’s latest $1.8 trillion

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Exclusive: Huawei in Talks to Divest Parts of Honor Smartphone Business, Sources Say | Investing News

HONG KONG (Reuters) – Huawei Technologies Co Ltd is in talks with Digital China Group Co Ltd <000034.SZ> and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to 25 billion yuan ($3.7 billion), people with knowledge of the matter said.

Embattled Huawei is resetting its priorities in the face of U.S. sanctions and will focus on its higher-end Huawei phones rather than the Honor brand which is aimed at young people and the budget conscious, they said.

The assets to be sold have yet to be finalised but could include Honor’s brand, research & development capabilities and related supply chain management business, two of the people said.

The deal may be an all-cash sale and could end up smaller, worth somewhere between 15 billion yuan and 25 billion yuan, one of the people said.

Digital China, the main distributor for Honor

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E-Commerce Economics Are Broken, Says Tech Startup Tradeswell. It Has A Plan To Help Fix Them.

Paul Palmieri was looking at various direct-to-consumer startups as possible investments for his venture capital fund when he decided the e-commerce economics didn’t add up.

“I definitely saw a lot of opportunity to invest in direct to consumer brands, but every time we would get close, we would look at it and say, gosh, the numbers are somewhat broken,” he said.

While the sales potential is great, the fees brands pay to what Palmieri calls the ecosystem of e-commerce enablers—for advertising, for keywords, for warehousing, for fulfillment—are destroying margins.

So instead of investing in a DTC brand, Palmieri decided to invest in starting a company that would help brands large and small master the new math of e-commerce.

The company, Tradeswell, emerged from stealth mode last week after beta

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Smart Sprinkler Irrigation Systems Market: COVID-19 Business Continuity Plan | Evolving Opportunities with Hunter Industries Inc and NxEco Inc | Technavio |

LONDON–(BUSINESS WIRE)–Oct 13, 2020–

The global smart sprinkler irrigation systems market size is expected to grow by USD 442.81 million as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 17%.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201013005853/en/

Technavio has announced its latest market research report titled Global Smart Sprinkler Irrigation Systems Market 2020-2024 (Graphic: Business Wire)

For the Right Perspective & Competitive Insights-Request Free Sample Report on Pandemic Recovery Analysis

Read the 120-page report with TOC on “Smart Sprinkler Irrigation Systems Market Analysis Report by End-user (Commercial and Residential) and Geography (North America, APAC, Europe, MEA, and South America), and the Segment Forecasts,

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What small business owners really need from the next president

Tim Burgess came up with creative ways to keep his Charlottesville, Virginia, restaurants running after reopening in May, following a nearly two-month shutdown during the pandemic.



a group of people standing in front of a building


© Courtesy Tim Burgess


He expanded outdoor seating at his two full-service restaurants, Bizou and Bang, by taking over nearby parking spaces and an empty lot next door. As the weather cooled off, he installed heaters and tents with roll-up sides. While restaurants in Virginia can now serve limited numbers of customers indoors, Burgess’ restaurants will remain outdoors-only, out of concern for his staff and customers.

But as Burgess thinks about how to keep the business afloat in the coming months: “We keep thinking of Game of Thrones — winter is coming,” he said. “We’re staring at winter, and we’re scared.”

It’s a concern shared by business owners across the country, as colder weather and the possibility of converging flu and Covid-19 outbreaks

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Cigna Set to Grab a Bigger Pie of Medicare Advantage Business

Cigna Corp. CI will expand its Medicare Advantage (MA) health plan offerings to seniors in 67 new counties next year in what is quickly becoming a competitive business proposition for health insurance giants.

The MA health plan will be extended by increasing the company’s MA policy offerings for the 2021 MA enrollment season, which begins Oct 15 and runs through Dec 7. Plans selected during that time will be effective Jan 1, 2021.

Cigna has a relatively smaller share of the Medicare Advantage market, dominated by Humana Inc. HUM and Centene Corp. CNC followed by UnitedHealth Group Inc. UNH.

However, the growing opportunities in this market are attracting Cigna to grab a greater slice of the MA market. An aging U.S. population and bipartisan support from the government made the MA market a prospective place to be which are the private version of the government sponsored Medicare plans. The company

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Why Lifetime Gifting Should Be Central To Your Estate Plan

By Anna Davies

Right now, the lifetime exemption for gifts and estates is the highest it has ever been—$11.4 million for individuals or a $22.8 million joint exemption for married people. But this number isn’t permanent and could change. That’s why financial advisors are saying it’s a smart idea to put vehicles in place, like trusts, to enable seamless lifetime gifting. 

“Some people are waiting to do things based on how things land, politically, but that could leave them scrambling if things were to change,” said Rebecca Duguid, a senior vice president and client advisor at Whittier Trust. “The earlier you get the process started, the better.” 

Having vehicles in place now can give you the maximum flexibility in terms of gifting to kids and grandkids — and can also help your children and grandkids learn how to be wise stewards of your wealth. That’s because, while “trust fund

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