What is a fiduciary? A person or organization that acts on behalf of another person, putting their clients’ interests ahead of their own, with a duty to preserve good faith and trust. Being a fiduciary thus requires being bound both legally and ethically to act in the other’s best interests. –Investopedia.com With retirement plans, there… Read more
Most people don’t even know how to answer that question, much less feel confident enough to answer with a resounding “yes.” The truth is that most assets are naturally not ‘asset protected.’ This means that unless you have done some planning and maneuvering specifically aimed at asset protection, well… These are the most common issues… Read more
The August 2008 Money Magazine offered up an article of several successful individuals talking about the smartest financial advice they have ever received. Billionaire and CEO of Virgin records, Richard Branson shared a story about his lack of knowledge in the financial realm and being humble about what you don’t know. Have you ever noticed… Read more
It doesn’t matter whether you own a Mom-and-Pop shop, a family farm or ranch, a Fortune 500 company or anything in between…When you have a family business, you often need a reality check to keep your business what it it—a business. I obviously work with family members every day. I often catch myself using a… Read more
Do you have life insurance for your business and/or owned by your business? If so, the death benefit is supposed to be tax free, right? It might be. It might not be. Or worse, it could be taxed twice. Let me tell you a story about Joe. He owned a very successful business with his… Read more
Wow! 2021 has been a whirlwind… sometimes literally in paper. It seems we have had a new proposal almost every day from lawmakers. Social Security alone has been addressed in 10 different bills this year. And taxes? Keeping up with introduced or impending changes is a full-time job. The good news is that we are… Read more
It’s that time of year when families get together, laugh, tell stories, and eat too much. And like most holiday movies, some of it is remembered fondly all year – and some of it you just grit your teeth to get through. No matter where you fall on that spectrum, I want to bring a… Read more
Stop for a moment and think about all of the change that has occurred since we entered this decade less than 2 years ago. Who would have thought the world would be set back on its heels? Several times in the past week I have had conversations about how busy it is for everyone. Everyone… Read more
Bill and Sue started their business several years ago. After a few years, it began to yield good profits and the tax man began knocking. During tax season they asked their accountant what they could do to get this tax bill down and, after consideration, they settled on setting up an S-Corp. This was a… Read more
It is inevitable. Change is coming for 2021 and beyond. The problem is no one knows for sure exactly what that change will be. There are several things we have a good hunch will happen, and we will discuss a few key notes. No matter, the big question is how do you plan around a… Read more
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Smart Money Group, LLC and Kennedy Financial Services, Inc. are not owned or controlled by Calton & Associates, Inc.