LNG Financial Services, LLC

LNG Financial

Dear Valued Client,

As the first 2013 tax deadline passes into the sunset, and we head into the rest of what we hope will be a very good year, consider what you can do to make the most of your resources, not only to support your current lifestyle, but to build the wealth you'll need to support the life you want when you stop working. 

The goal is to build a nest-egg capable of replacing most of the income you previously earned through a business or salary. It must be large enough to prvide that income for the rest of your life. This does not happen by chance very often - it usually takes a plan. It may take less time than you think to create a plan and it is worth every second you put into it. The most important step is starting.
  
Inflation and taxes are two of the biggest challenges that must be overcome, to achieve financial independence. Proper tax and retirement planning make it possible to overcome these challenges with less effort and a greater probability of success. 

Understanding the cost of living in retirement is  essential for proper planning. The first article in this issue will help you understand some of the costs that tend to surprise people when they retire and start living on what they've saved.  

Contact us at this office to go over your current situation and to develop strategies that will make the most of your resources.



Howie Hirshfield
Certified Retirement Counselor(R)
LNG Financial Services

Retirement Expenses Are Greater Than Expected

If you're planning for your retirement consider yourself wise. If you're young, in your 20s or 30s, consider yourself brilliant and among the few with enough foresight to be doing so. If you haven't started planning for your retirement yet, start today. Start saving even a small amount every month and increase that amount regularly as you are able to. Living in retirement is likely to cost you more than you expect.
Read the article »

ArrowPrint-Friendly

ArrowSend to Friend

ArrowAsk a Question

Did You Overlook Something on a Prior Tax Return?

Occasionally, clients will realize that an item of income was overlooked, a deduction was not claimed, or that an amended tax document was received after the tax return was already filed. Regardless of whether the oversight will result in more tax due or a refund, it should not be dismissed.
Read the article »

ArrowPrint-Friendly

ArrowSend to Friend

ArrowAsk a Question

Making the Most of Social Security Spousal Benefits

Deciding when to begin receiving Social Security retirement benefits is an important decision, and it becomes an even greater challenge when coordinating spousal benefits. Here are some basic guidelines to understanding spousal benefits and a couple of strategies to consider.  
Read the article »

ArrowPrint-Friendly

ArrowSend to Friend

ArrowAsk a Question

Tax Rates Increase in 2013

As part of the 2012 American Taxpayer Relief Act (ATRA), tax rates, both ordinary and capital gains, increased in 2013 for higher income taxpayers whose taxable income exceeds the income threshold for their filing status.
Read the article »

ArrowPrint-Friendly

ArrowSend to Friend

ArrowAsk a Question

Tax Facts about Summertime Child Care Expenses

Many parents who work or are looking for work must arrange for care of their children during the school vacation. If you are one of those, and your children requiring care are under 13 years of age, you may qualify for a child care tax credit.
Read the article »

ArrowPrint-Friendly

ArrowSend to Friend

ArrowAsk a Question

Higher Income Taxpayers Hit with Exemption & Itemized Deductions Phase-out

Generally, taxpayers are allowed to deduct personal exemptions of $3,900 for themselves, their spouses and their dependents. In addition, taxpayers are allowed a standard deduction or, if their deductions are large, they can itemize their deductions.
Read the article »

ArrowPrint-Friendly

ArrowSend to Friend

ArrowAsk a Question



The LNG Financial Services newsletter is available via e-mail on a free subscription basis. You can subscribe or unsubscribe at any time. For more information about - LNG Financial Services, go to http://www.lngfinancial.com. This message was sent using ClientWhys Persyst. View our permission marketing policy.

Circular 230 Disclosure, United States Treasury regulations effective June 21, 2005 require us to notify you that to the extent of this communication, or any of its attachments, contains or constitutes advice regarding any U.S. Federal tax issue, such advice is not intended or written to be used, and cannot be used, by any person for the purpose of avoiding any penalties that can be imposed by the Internal Revenue Service.
XML ButtonWhat's This? Bookmark and Share PDF