James Montgomery » business lawyer http://jamesmontgomerylaw.com Business Attorneys - Montgomery & Associates, PC Thu, 01 Sep 2011 20:50:41 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 The Montgomery Letter January 5, 2010 http://jamesmontgomerylaw.com/the-montgomery-letter-january-5-2010 http://jamesmontgomerylaw.com/the-montgomery-letter-january-5-2010#comments Mon, 04 Jan 2010 00:38:04 +0000 http://jamesmontgomerylaw.com/?p=169

The Inheritance Tax Is Gone . . .
But For This Year Only
The inheritance tax completely went away as of January 1, 2010!  Unfortunately, the sunset provision will bring it back right now as of January 1, 2011.  With a vengeance as the credit drops to $1,000,000 per person from $3,500,000 in 2009.  The tax rate is also higher.
Write your Senator and let them know that you want them to pass the extension with the $3,500,000 credit and lower tax rate!

“What I learned from My Father, the Grifter -
A lifetime of lessons on money from a con man”
by Pat Jordan


The lessons in this article are a bit surprising given the source.

Keep your overhead (“your nut”) low. The less your monthly overhead, the less you have to make every month.  The less  you have to earn each month, the more potential freedom that you have.

My good friend Rob Minton puts it this way in his renegademillionaireblog.com:

“What it really seems to boil down to is:
If your “nut” is lower, you own your business.
If your “nut” is higher, your business owns you.

Or I can put this another way…
If your “nut” is lower, you can work less and enjoy life more.
If your “nut” is higher, you must work more and enjoy life less.

Bottom line – Your “nut” ultimately dictates how much happiness and freedom you’ll have in life.”

Think about it.  For every dollar in expense, you have to make at least two dollars to pay that expense.

How do you fire yourself?

What are the largest expenses you have?  Home loan and car loan?  What if you had them paid off?  What if you had non-work related income every month sufficient to pay those bills?  How would that change your life?

It is the New Year!  It is time to take action.  Change or expect the same result.

Kill Your Phone Remotely

Many of today’s most popular smartphones can be erased remotely if they are lost or stolen. Here’s how to do it.

Consider what you have on your phone . . . anything there you might not like to have some thief know?  Here is how to “kill your phone”.

Don’t Get Identity Theft Protection
Go Ahead – Roll The Dice!

I don’t know whether or not you have real identity theft protection – the kind that will repair your credit not just notify you if something is reported. Don’t get identity theft protection unless you value your security. This program covers fixing your problem, not just alerting you like almost all the ones advertised (and for only about $35 per month).  Makes a great employee benefit.  Can be paid before taxes.
Looking for a private investor that would be interested in buying out a client’s current investors on a $17k note.  The client is offering 12% and 2 points for a 1 year note.  It is on a current rental property  that the client has owned for 4 years.  If you or someone you know would like to know more, please email me at jemlaw@mac.com.

Interested in buying notes?
I am forming a group to buy to buy a note that will be secured by real estate and refinanced within one year.  Total will be about $400,000 in $50,000 pieces.  This notice is not an offer to participate.  If you want to know more, call me at 690-3700.
]]> http://jamesmontgomerylaw.com/the-montgomery-letter-january-5-2010/feed 0 The Montgomery Letter – business law firm 12/15/09 http://jamesmontgomerylaw.com/the-montgomery-letter-business-law-firm-121509 http://jamesmontgomerylaw.com/the-montgomery-letter-business-law-firm-121509#comments Sat, 19 Dec 2009 14:11:07 +0000 http://jamesmontgomerylaw.com/?p=146

There is Snow at Stoneybrooke in Breckenridge Colorado
 
 

 
 
Every Now and Then . . .
 
Congress Actually Does Something Intelligent
 
Will The Senate Follow Suit?
 
  The Estate Tax
 
Editors Note:  By a 25 vote margin, the present 45% rate and $3.5 million credit ($7 million for married couple) was extended by a House vote.
 
The House’s decision to extend the current estate tax rate did not come as a surprise to industry observers, who never believed the government would allow the tax to expire altogether and give up the much needed revenue. 
 

 Struggling With How To Handle Social Media In Your Company?
 
To blog at work or not?  Ready to adopt a policy but have no idea what should be in it?  Here are the policies of over 100 companies on that very subject.
 

Don’t Get Identity Theft Protection
Go Ahead – Roll The Dice!

 
I don’t know whether or not you have real identity theft protection – the
kind that will repair your credit not just notify you if something is
reported.  Don’t get identity theft protection unless you value your security.   This program covers fixing your problem, not just alerting you like almost all the ones advertised (and for only about $35 per month).  Makes a great employee benefit.  Can be paid before taxes.
 

Look Before Contributing to a 529 College Plan

If guardians control the savings account, creditors can seek the money.

Here’s one more thing to worry about: If you contribute money to a tax-advantaged 529 college plan, the beneficiary could lose that money if the parent holding the account declares bankruptcy.

 
 
Debt settlement negotiation could be an option.  Just call me to schedule a free needs analysis review.  690-3700
 

 
Postponing The Sale Of Your Business?
May Be Time Soon
 

The last two years were a bit slow for the mergers and acquisitions industry, but that’s about to change. Based on industry cycles and political and economic analysis, experts point to a resurgence in both buy- and sell-side activity. Some expected trends:
 
Slated changes to the capital gains tax should drive sellers to market. Capital gains taxes will be increasing by at least 5 percent, (with some camps predicting a jump of 10 or even 15 percent to pay for the federal deficit.) On top of that, there is the proposed surtax of 5.4 percent for the new health care bill; that equates to a 69 percent increase in capital gains!
 

 Interested in buying notes? I am forming a group to buy to buy a note that will be secured by real estate and refinanced within one year.  Total will be about $400,000 in $50,000 pieces.  This notice is not an offer to participate.  If you want to know more, call me at 690-3700.
_______________________________________________________________________
If you know someone who might want to know what is in The Montgomery Letter – just go to my website, www.jamesmontgomerylaw.com and enter their name and email address in the subscription box on the right side of the page.   Send them an email that you gave it to them.  They will receive an email asking them to confirm the subscription.
 
Happy Holidays!

 
 
 
James Montgomery
Of Counsel:
Elms Harmon Macchia, LLC
7800 IH 10 West, Suite 600
San Antonio, Texas 78230
210-690-3700
210-568-4550
Past issues have been archived on my yourexitstrategy blog.  In the future they will appear on my jamesmontgomerylaw.com site.
  



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]]> http://jamesmontgomerylaw.com/the-montgomery-letter-business-law-firm-121509/feed 0 The Montgomery Letter 12/1/09 http://jamesmontgomerylaw.com/the-montgomery-letter-12109 http://jamesmontgomerylaw.com/the-montgomery-letter-12109#comments Sun, 13 Dec 2009 18:04:41 +0000 http://jamesmontgomerylaw.com/?p=132

A Great Thanksgiving!
The day before Thanksgiving, we welcomed our fifth grandchild and fourth grandson into the world.  Brody Stoner arrived at 10 pounds and 22.4 inches long (tall?).
What a great way to do Thanksgiving!

You May Have Heard Me Joke That 2010 Would Be A Good Year To Die
If You Have To . . .
Navigating The Estate Tax

So much for the perfect year to die in. For most of this decade, the advice from estate planners has been clear: The best time to die is next year. That’s because the estate tax has been slated to disappear for 2010–falling to exactly zero for one year, then returning.

How Do Spammers Send From Your Email Address?
Spammers can send messages that pretend to come from anybody — that’s one of the tricks in the phishers’ toolbag, allowing them to forge messages “from” your bank. Not only that, but spammers can send email to your friends and business associates, while pretending to be you.

Identity Theft Protection

I don’t know whether or not you have real identity theft protection – the kind that will repair your credit not just notify you if something is reported.
Don’t get identity theft protection unless you value your security. This program covers fixing your problem, not just alerting you like almost all the ones advertised (and for only about $35 per month).
More Members Of Middle Class File For Bankruptcy
Staci Schubert’s career has taken her from New York to California, from graphic designer to website designer to sales executive. Most recently, she launched a business as a designer of handbags and accessories.

At 40 and with such accomplishments, Schubert is Middle Class America. She and her counterparts have long been the nation’s backbone, because their steady jobs and purchasing power have helped drive our economy.

Debt settlement negotiation could be an option.  Just call me to schedule a free needs analysis review.  690-3700

Dividend Stocks Deserve A Second Look

Most advisers know that stocks have provided investors with about a 10% rate of return over the past 100 years, but most don’t realize that 53% of the return has come from price appreciation and 47% from dividends. Dividends can provide a reliable source of cash flow that can be reinvested to promote compounding and dollar-cost averaging, or taken as income to support lifestyle.

I asked several of the financial advisors that I work with to make recommendations.  The regulatory review requirements prevent most from making recommendations but here are two suggestions:
From Kam M. Emerson

Agent / Owner

Allstate – The Emerson Group

210-826-0885

www.allstateagencies.com/051050

“If someone walked in my door today, depending on their age and timeframe I would go with one of the following two to start with:

1) American Funds All-Weather Foundation

group of 3 American Funds

40% AMCAP Fund

40% American Mutual Fund

20% The Bond Fund of America

The last time we saw a market close to what we just saw was ’73-’74.  This combination of funds survided that market and the subsequent market downturns.

They have a history of resilence and growth.

2) Prudential Variable or Fixed Annuity with HD Lifetime 6 Plus

Guaranteed lifetime income stream is based on 6% compounded growth of the annuity’s highest daily value until the first Lifetime Withdrawal

Guaranteed lifetime income stream is based on at least:

200% of the account value at benefit election on the 10th anniversary

400% of the account value at benefit election on the 20th anniversary

* Minimum guarantees are for income purposes only and assume no Lifetime Withdrawals from benefit election. A Non-Lifetime Withdrawalwill proportionally reduce the Protected Withdrawal Value as well as the 200% and 400% guarantees. At time of withdrawal your customermust specify the withdrawal is intended to be a Non-Lifetime Withdrawals”

My note:  You need to do your homework and evaluate any investment.  No advisor makes guarantees and advisors will review your needs with you to make sure that investments meet your particular situation.  Check with your investment advisor before making any investment.

_______________________________________________________________________
James Montgomery
Of Counsel:
Elms Harmon Macchia, LLC
7800 IH 10 West, Suite 600
San Antonio, Texas 78230
210-690-3700
210-568-4550
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