Tag Archives: finances

LOUISIANA HOUSE BILL 195 – Cash Be Gone

LOUISIANA HOUSE BILL 195 - Cash Be Gone By Howard Lipset, CPARecently, the Louisiana State Congress passed a bill that effectively bans citizens from shopping with cash for all second hand transactions (defined as garage sales, antique store, flea market, charity fundraisers, etc.)

An Internet blog raises the specter of “Big Government” wanting to see where every penny is spent, draconian “capital controls” and government dictating what you can and cannot do with your money. Continue reading

Failure Is Fine, Failure to Plan Is Not.

Sandcrate.com Interview by Howard LipsetSandCrateTM  is a private community for entrepreneurs of all kinds and in any industry to turn ideas into reality through collaboration”.  Progressive Management Inc. is one of SandCrate’s strategic partners, and I recently provided a guest post.

If you are afraid to fail, then you will not try.
If you do not try, you can never succeed.

This is a quote often attributed to Theodore Roosevelt about life, but it also applies to starting and running a business. Some of the richest people have failed multiple times before they succeeded. Fear can cause inaction. Inaction leads to failure. Even if your decision is wrong, learn from it because there will be a next time.

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Does Credit Repair Make Sense?

 Does Credit Repair Make Sense? by Howard Lipset, CPAby Leslie H. Tayne, Esq.

Founder and managing director of Tayne Law Group, P.C., one of the few New York State financial law firms dedicated to debt resolution and bankruptcy alternatives.  

An award winning financial attorney, Leslie is a regularly sought out guest speaker and media expert who offers valuable insight, advice and strategies relating to various areas of debt.  www.taynelaw.com.

As defined by the Federal Credit Repair Organizations Act, credit repair companies/organizations help consumers remove negative information from their credit report. Credit repair organizations usually achieve this by sending dispute letters to credit reporting agencies to challenge the credibility of negative information reported on someone’s credit report by one of the three major credit bureaus (Experian, Transunion and Equifax).  If you have legitimate errors on your credit report, those errors can affect your credit and you might benefit from a credit report company correcting them.

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Social Security is a Matter of Timing

By Harriet Hoffman, Make the Right Choice

Social Security is a Matter of Timing - Howard Lipset, CPADeciding when to begin receiving Social Security benefits can be a major life decision. It can impact your long-term financial security, your retirement prospects and your federal tax burden, or it can provide an immediate and welcome lifeline.

On the surface, when to take your benefits looks like a no-brainer. You can begin collecting any time between age 62 and 70.  Full Social Security age is 66. So if you want or need those monthly payments, many people would advise you to grab the money as soon as possible. If you don’t need the money the common wisdom says wait until you are full Social Security age (for baby boomers that age is 66) and then you will collect for more years than if you wait until the maximum age of 70. If you don’t have other assets, wait until 70 to get more guaranteed-annuity income. This over-simplified guide leaves out the myriad of factors that need to be considered if you are to make the most of the benefit that you have earned and that for many will play a significant role in your future financial security.

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What is Your Time Worth?

What is Your Time Worth? By Howard LipsetThe difference between a small business simply getting by or forging forward may be that they should be increasing their overhead in the right places.

If a business owner is spending more than five hours a month on any particular function, they must consider outsourcing the work. In today’s world, many functions performed by specialized departments in large corporations are available to small business from small companies.  Continue reading

IRS Warns of Tax-Time Scams

IRS Warns of Tax-Time Scams By Howard LipsetIt’s true: tax scams proliferate during the income tax filing season. This year’s season opened on January 31. The IRS provides the following scam warnings so you can protect yourself and avoid becoming a victim of these crimes:

  • Be vigilant of any unexpected communication purportedly from the IRS at the start of tax season.   Continue reading

I Do Not Like Debit Cards

I Do Not Like Debit Cards By Howard LipsetThe primary reason is that they lead to additional bank charges.

In my opinion, the only people who should use a debit card are those that have excessive amounts of cash in their checking accounts or those who will never write a check on the account that is being debited.

And here is why. Obviously, excessive cash will handle a myriad of charges without fear of overdrafts. Most people who use the debit card do not have a mechanism for adjusting their checkbook balance for each charge. Continue reading

BRIDGE VERSUS OBAMACARE

Howard Lipset of Progressive Management and www.thecfo.wordpress.com talks about the Affordable Care Act and how it is going to affect all of us.I love to play Duplicate Bridge.

The game is totally logical. It requires that you be able to count 4 suits of 13 cards each AND 10 points in each suit and after a few plays you can figure out where the rest of the cards lie.

The same thing cannot be said for the Affordable Care Act (ACA). Despite the fact that we were assured that premiums would go down, they are on the rise. Despite the fact that we were assured that if we liked our policy, we could keep our policy, the truth is that the old policies are going to be squeezed out.

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MOBILE DEPOSIT BANKING

Howard Lipset of Progressive Management and thecfo.wordpress.com discusses his mobile deposit banking and how it can be improved.I am so proud.  I have entered modern times with my business. I have become technologically  savvy. I now make bank deposits by using my iPhone.

Congratulations to those people who figured out how to let me take a picture of the check, and then read the amount and compare it to what I said it would be. That is really clever.

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INTERNET SALES TAX

Howard Lipset of Progressive Management and www.thecfo.wordpress.com explains the State of New York's Sales Tax Form and how it will cost small businesses money and burden them with a lot of paperwork.Once again, the United States Senate has demonstrated that it comes from another planet.

They have no concept of what it takes to run a business and the havoc that their so-called “good intentions” will bring.

Is it just me, or does anyone else wonder if it is just “good intentions” or if there is some underlying benefit to a political contributor that drives them?

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