"CREATING FINANCIAL SYNERGY"

Profit Margin

2011-11-02T13:33:00.001-07:00

On my last note, I discussed the importance of knowing your break even. Let's say you got that number; let's say you have a clear understanding of what you need to make, sale and accomplish on a daily, weekly and monthly basis to cover expenses, payroll and some variables.

The next step is to plan objectives and work on your Profit Margin.

What is Profit margin: it is the ratio of profitability calculated as net income divided by revenues, or net profits divided by sales. It measures how much out of every dollar of sales a company actually keeps in earnings. Now the fun begins, set your baseline of profitability and set goals to achieve, watch your profit margin grow. Use the SMART concept: S specific, M measurable, A attainable, R reasonable and T for Time.

Set your goals with an specific outcome in your industry, not too high or too low, set a reasonable space and time to accomplish it and ensure is trackable and measurable to analyze results. Lots of people have a hard time setting goals; why, because you do not have a break even established and do not know the profit margin of the company.

Dedicate some time to analyze these numbers and the AHA moment will come. Being in business will be fun again.

Many people hear the profitability word, many are selling; "we can get you to be more profitable" if you buy X or Y or use social media; they do not even know what your numbers and goals (if any)are... you are the only one who can determine these facts. Making a profit is one thing; knowing the basics is another. Be aware of quick fixes, fad and trends, just because everyone is doing it. Remember how everyone was refinancing their mortages and buying more than they could afford a few years ago, yes everyone was doing it. Do not fall into that same trap. Instead, learn, read about what is working. Dedicate resources on knowing your business from the basics and up. Ask for help if necessary.

Remember Profit is the one thing you can't get more of.

Knowledge is power.

Knowing Your Break Even

2011-10-26T13:30:00.001-07:00

The Importance of Knowing Your Break Even

by Hannibal Chinchilla, Principal, Barca Financial Group, Barca Enterprises and AZ Web Programmers

If you are a business owner during this recession; knowing what your Break Even is paramount. Knowing how many sales per day, week, month you ought to make each month. Knowing your fix costs, your variable costs, you need to know these figures in order to cover your expenses. These figures will help you create goals and objectives on a daily basis; to be able to gauge performance, identify troublesome areas and correct them before those bills start piling up. I see a lot of businesses closing their doors lately; I wonder how many of them knew their exact break even before calling it quits. It is clear that knowing and mastering this simple business fact is so unimportant to many. Owners are always too busy to figure things out, if they do not know how, they do not seek advice or help.

Advice: know your bottom line, your break even so you can have a base line of your business position; then you can move forward to master your Profit Margin

Your 30 second commercial done! Now What Do you Do?

2011-07-15T03:17:00.000-07:00

By Hannibal Chinchilla, CEO Barca Financial Group, AZ Web Programmers and Barca Enterprises, INC.

You Have Your 30 Second Commercial done, Now What Do You Do?

As many prepared for a leads luncheon or networking event, one item to reinterate is to have a rehearsed 30 second commercial, I call this your resume in a nutshell, it will facilitate a follow up/a sales call and possibly a Sale!

Just remember that when you have your 30 second commercial, it should flow naturally and with confidence. Avoid sounding like a recording, specially during a leads luncheon which you may have a potential customer next to you, if she/he hears a pre-recorded commercial, it will take awayffrom the objective. Additionally consider your target audience, this will change from the various potential customers you get to talk to; potential customers will come from different industries and walks of life. A quick knowledge and assessment from these customers will set a more proper 30 second commercial for each of them. What I mean by that is, by asking a few simple questions you can determine a potential customer/client. I call this a prequalifying step, since you only have a limited amount of time during these events. It will save you time and money!.

So let's say you got the interest of a potential customer, your 30 second commercial worked; she/he would like a follow up and a future meeting, then what do you do to prepare?

This will depend on the sales training you have received to make thiese sales calls, your success ratio of closure, delivery and follow up actions. Depending on your industry this could take a few meetings and additional steps. In this note I want to share a set of professional selling skills I have learned and proven to work. My closing rate is about 85%. This is high and it is there for a reason, preparation and planning aids in the ultimate goal of closing a sale. I have always been a good closer, this set of skills I share with you will help you or add to your sales repertoire.

When we sale we need to find the NEED and to make informed mutually beneficial decisions; This is the core of selling:

OPENING, propose an agenda, state the value to the customer, always check for acceptancep.

PROBING, Use open and close probes to explore the customer's: Circumstances and needs.

FINDING CUSTOMER NEEDS, acknowledge these circumstances and needs

SUPPORTING, Acknowledge the need, describe relevant features and benefits and check for acceptance

CLOSING, Review previously accepted benefits, propose next steps for you and the customer to take and check for acceptance, shake hands....

Probing:
Open probe: ask questions with; What, When, How, Why, and let the customer answer completely and use listening level one, which is to attentively to key words, needs, circumstances and facts to use later during the meeting. you may want to take notes so you can remember later on. (Remember to ask permission to take notes orto record the meeting.

Closed probe: ask questions with; Do/did you ......... for a yes/no answer, this helps reiterate the solutions after the open probe phase.

Customers Reactions and how to deal with them:

Overcoming Customer Indifference

-Acknowledge the customer's point of view
-Request permission to probe
-Probe to create customer awareness of needs: Explore customer's circumstances for opportunities and effects; Confirm existence of a need before continuing

Resolve Customer's Concerns
First understand the concern

Resolving Skepticism
-Acknowledge the concern
-Offer relevant proof (benefits and features, verbal descriptions or visual sales aids
-Check for acceptance

Resolving Misunderstanding
-Confirm the need behind the concern, sometimes customers do not describe the need out right and more probing is required to find this concern not previously specified.
-Support the need.

Resolving a Drawback
-Acknowledge the concern
-Refocus on the bigger picture
-Outweigh with previously accepted benefits
-Check for acceptance

During preparation and research prior to the sales call you can identify some of the typical customers reactions and effects: indifferences, concerns, skepticism, misunderstandings and drawbacks.

Note: Don't forget to check for acceptance!!

Happy Sales calls!!!
For more related articles and consultation visit us at www.barcafinancial.com for a quote.

2011-07-08T15:37:00.000-07:00

By Hannibal Chinchilla

The words "Debt Free" seem so unrealistic and far away, specially during these tough economic times. For generations we have learned from our elders to deal with debt in very different ways; if you ask you grandfather he will tell you to save as much as you can, don't trust the banks and pay everything off right away. Our grand fathers generation learned the hard way during the 10+ year Grand Depresion, long lines to get basic needs, food and no jobs available. Many survived and flourished to give us that sound advice. Unfortunately, we are bombarded by offers of quick credit, easy credit and don't worry, pay it later. Later sometimes never come. The traditionalists learned first hand, in contrary the boomers who have indulged in debt ridden portfolios and quick return on investments. It really doesn't work like that. Compounding interest only works through time. Early withdrawals of a 401K do not work. It negates actually the savings you can accumulate. Social Security is in jeopardy... Defined Benefit Plans are rare nowadays, these are pensions plans, who stays in a company longer than 3 years. Our grandparents usually work for the same company for 20+ years on average. We are left to fend for ourselves and our children. So what are we ought to do?

Realistically, we need to take care of ourselves; your company, your parents or children, the government, nor your friends will help.......We must face these times ourselves. This means self-discipline. This means making a real and realistic paradigm shift in our behavior. Yes, it is tough but it can work.

Here is a realistic way to reduce or eliminate debt through discipline and consistency:

First, write down all your debt, from smallest to largest, item one should be a small debt, a credit card, or a bill you can pay off quickly, then the second item should be larger, probably a couple of payments, third item, should be a bit larger and could take a couple of months to pay off, and so on. Get the picture?

The way it works is that we are accustomed to accomplishments and quick outcomes, when you pay off an item off your list, it will give you a feeling of accomplishment and it will feel good, really good. Then the second item, then the third and so on.

It will take time but it will start to feel that you are getting somewhere, just work on whole numbers and not interest.

Yes, interest is important but it will work better once you pay one off, you will see.
Caution!: you will need to stop incurring more debt, lower your expenses and increase your earnings, basic math, the more you bring in the easier it will be to start paying those small debts. Budget those expenses and see what is coming in and going out. Reduce or stop paying for nice to have or do items, you know what they are. The economy will take a few years to rebound, we are going to feel this for a while, so prepare yourself, deal in cash only and stay away from credit cards and debit cards.

If you are interested in getting my Cash flow worksheet email me at hannibal@barcafinancial.com.

Yes, my return on investment is that once you become debt free, you will seek advice to build your nest egg and happiness.

Visit us at http://www.barcafinancial.com/ for quick calculators and other related articles

2011-06-19T05:53:00.001-07:00

Cash flow solutions
http://on.fb.me/jwVo8o

2011-06-18T11:50:00.001-07:00

SELLING MORE – The exporting of US goods and services to China is on pace to reach $102 billion in calendar year 2011, $10 billion more than the $92 billion we exported to China in 2010 (source: Department of Commerce).

Consider Your Retirement Needs, but Don’t Forget Your Retirement Wants

2011-04-05T23:01:00.000-07:00

You might have read or heard that you need to replace about 80% of your pre-retirement income to maintain your standard of living in retirement. Although some research validates this guideline, consider that half of today’s retirees say their spending is higher or about the same as it was when they were working.1–2

The idea that you may need less income in retirement considers that your income tax burden may be lower when you quit working and that you probably are not contributing a large chunk of your salary to retirement plans. Variables that can influence the replacement ratio — positively or negatively — include your living expenses, overall debt level, health-care costs, and whether you will receive an employer-provided pension.

Rather than focusing on how much money you’ll need to get by in retirement, take some time to envision a retirement lifestyle that you can really get excited about. Unless you plan to spend retirement being frugal, there’s a good chance that you could need more than 80% of your pre-retirement income to fund the lifestyle you seek.

More Time, More Money?

Retirement may be the first time in your life when you are free to travel, play golf, go back to school, focus on hobbies, and pursue other interests that you simply didn’t have time for during your working years.

What a disappointment it would be to retire and finally have the time, but not the money, to do as you please. If you would find it difficult to afford your ideal retirement lifestyle on your current income, it could be an indication that you are underestimating how much income you’ll need in retirement.

Changing Needs

As we grow older, what once may have been considered a luxury can become a necessity. In their list of “basic needs,” more than half of baby boomers include an Internet connection, special occasion gifts, and pet care. Many baby boomers would add family vacations, dining out, professional haircuts/coloring, movies, and their children’s or grandchildren’s education to the list of basic needs.3 And for 98% of baby boomers, health-care coverage is not a luxury but a basic need, one that they are extremely concerned about being able to afford.4

Underestimating Costs and Spending

The danger of underestimating how much you expect to spend in retirement is that it could lead you to save too little or invest too conservatively during your working years. Among the 46% of workers who have attempted to calculate how much money they will need for retirement, 44% made changes to their retirement savings strategies as a result, with the majority of changes involving saving or investing more.5

To prepare for a retirement that you can truly look forward to, consider the luxuries that your retirement-needs calculation may not account for. It could mean the difference between living well and just getting by.

1) CNNMoney, October 8, 2009

2, 5) Employee Benefit Research Institute, 2010

3) MarketWatch, August 6, 2010

4) Society for Human Resource Management, 2010

The information in this article is not intended as tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.

For more articles like this visit our website: http://www.barcafinancial.com/

Why You Want to Know How Much

2011-02-04T15:25:00.000-08:00

Business Valuation Can Be Valuable Even When No Sale Is Planned

If you have no plans to sell your business, an up-to-date valuation may seem like an unnecessary expense. But you might be surprised at how important the current value of your business can be to achieving your long-term goals. The current value of your business can affect how you approach everything from retirement to estate conservation and your succession strategy.

Your Retirement Lifestyle

The typical business owner has 50% to 70% of his or her net worth in the business.1 If you expect your business to help fund your retirement, a significant change in value might mean you need to adjust the amount of income you are investing for retirement. A shift in value might also affect the date at which you expect to retire, which could influence the timing of your decisions about the kinds of preparations you expect to make to get the business ready to sell or pass on.

Estate Conservation and Succession

It’s understandable if you would rather not spend too much time thinking about whether your business has lost value, but there could be an upside to knowing. If you are expecting to transfer ownership to the next generation, lower asset values may help you transfer a larger share of the business without tax consequences.

If your business has a buy-sell agreement that values the business too highly, a more reasonable valuation may help the survivors or successors take over without paying more than the business is actually worth.

If you discover that your business is responsible for more of your net worth than you realized, it could indicate that it’s time to diversify away from the business. It’s rarely a wise move to let your financial future hinge on the fate of a single asset — even if it is your own business.

Given the events of the past few years, you may be more inclined to focus on today’s problems than on what could happen years from now. But a precise valuation may provide you with valuable information that you didn’t realize you needed.

1) Financial Advisor, August 27, 2010

The information in this article is not intended as tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.

For more information:
http://www.barcafinancial.com/

2011-01-16T13:12:00.001-08:00

Enjoying Guadalajara Grill for lunch

Lesson Learned, or Not

2010-12-16T05:59:00.001-08:00

In the global Economics arena, we have seen how in 2001 the country of Argentina defaulted on a $95 Billion debt, as it remains one of the biggest sovereign defaults in history. We have seen how Ireland and Greece, Portugal and Spain struggle to restructure their debts and perhaps leave the euro. Things to account for are inflation, devaluation of a currency, budget deficit and loosing trading partners. Sounds familiar? A break up of the Euro will have ripple effects if it is allowed. Stronger economies are paying for the weaker ones and infuriate its citizens. In order, to maintain social, economic and even political ties, Europe seems to head this way. In the US, this is not good news for our outlook to recovery. Many steps ought to happen. I venture to say the EU, IMF, the US and China will do what it takes to avoid a default and breakup of the euro.

Keep your savings and prepare for turbulence.
http://www.barcafinancial.com/

ASSUMPTIONS VERSUS FACTS

2010-12-12T10:15:00.000-08:00

Sunday, December 12, 2010

Assumptions vs. Facts

By Hannibal Chinchilla

Financial plans are mostly based on assumptions. These assumptions can be about taxation, health, income streams, inflation, buying power of the dollar, what the stock market will do in the near future, when you are thinking to retire, how much you will need to retire, etc. One thing is for certain, the plan will change as the assumptions will also change, so why do we spend time planning on assumptions?

We need to start somewhere, to have a road map or a course of action; otherwise it will be like driving a car just to drive it and no destination in sight. Airplane pilots often have a flight plan, but often this plan changes; there are too many variables to consider, too many unforeseen events. But with a basic flight plan the pilot can make minor and consistent changes to make it to the destination. The financial plan works the same. Make minor and consistent corrections to ultimately get what you envisioned.

Nowadays there are too many variables to considered, economic, political, unthinkable variables, like losing existing benefits that were thought to be there for life; but with a steady oversight and consistency and discipline one can make it there. Unfortunately, many people spend more time planning on other things, like a yearly vacation or watching TV, statistically the average American on average watches approximately 30 days of television if you put all the hours’ non-stop. Additionally we tend to take action when it’s too late to take action, procrastination is a common fact.

Once you have a general idea of your desired destination, write it down on paper, and make small corrections over the short term to get there, stage it for a year, two year, five year and 10 year horizons. Make a list of items and things you always wanted to get accomplished; but never made past the first few months of the year. This year take a moment to think what you would like to attain. Make an action list. Make it short, with what I call the “SMART” concept; S for Specific, M for measurable, A for attainable, R for Realistic and the most important T for Time. If you are tired of broken New Year Resolutions and are stuck on that vicious cycle year after year, the only way to break the cycle is to change your mindset of how you view things, make a paradigm adjustment; and stay away from negative people.

If we accept the fact that even the best plan will be wrong, we can shift our energies on the “process” of getting there; the small things that can make an assumption become a fact.

Happy Holidays

From Hannibal Chinchilla

Barca Financial Group,

For similar topics visit our blog and website: http://www.barcafinancial.com/

The Psyche behind Christmas shopping

2010-12-01T04:26:00.000-08:00

It seems that we never learn, the economy, the legislature, trying to fix things and still coming short. We all got a good taste of a major Recession like the 1930's. Yet, we remain committed to help, our grandparents learned it. They saved and prepared for the worst. Yet, we remain unchanged.
The toughest time is during the holidays and the euphoria of the holidays; no one can escape it. It's tradition, right?
Seen from afar, on an early cold hard light of January, holiday shopping can seem a bit insane. I do not have a TV, although I can imagine the news talking about Black Friday and depicting mobs streaming into department stores and rampaging among the shelves, their overload cart piled high with televisions and video game consoles and expresso machines. It seems like preparing for 2012 already....WTF.
Neverthlesess, is it a social obligation? the National Retail Association has it to a science, many retailers depend on this to survive and supposedly help the economy, the feel good about helping our recovery. In a macro level does it really help? well it depends on who you ask. The retailers, yes it does, it keeps people employed. The consumers, it depends. The psyche of shopping is more scientific than that. Studies have been performed to figure out how to tap into your buyer's surplus, an economist term to see how retailers tap into your wallet and what you do not plan to spend but still spend it anyways. Yes, we have prepare for this season, but once you open your wallet for the first time you tend to feel what marketers call the guilt sensation. A guilt that I should not spend this money on nice to have items. Once you have opened your wallet once, the second time it hurts less and less and so on. Then you get the relieve that you are buying something for someone; the feeling of giving, yes it is the time for giving, but did you notice this is an excuse to buy more for oneself? This is what researchers called "the shopping momentum effect", so we buy,we have earned, it has been a tough year; I work hard for this, I should buy a Porsche or a nice hot tub. The psyche of shopping continues. It is a license to buy...
As the holidays approach, this phenomenon can feed on itself in a steady loop of spending events. We are humans after all. We never learn.
Happy Holidays

How to Make Holiday Entertaining Tax Deductible

2010-11-29T19:33:00.000-08:00

I found this interesting article please read

By Bonnie Lee

Published November 26, 2010

Holiday season is here and what better way to establish goodwill with employees and customers than throwing a rip-roaring holiday party? Besides, you can write it off, right? There is a classification on the tax return for meals and entertainment expense--so why not? Not so fast.

Smug IRS agents love nothing better than quizzing you about your holiday party then joyfully proclaiming, “disallowed!” There are rules. And essentially, the rules say, “If you’re having way too much fun, it’s not a deductible expense.” But let me quit mincing words here and give you the real lowdown.

Rule No.1 Any entertaining you provide must be directly related to the active conduct of your business or associated with a directly-related discussion that preceded or followed the meal or entertainment. This means that giving a party for the sake of establishing goodwill is not enough to make the transaction deductible.

In order to deduct the cost of the party, you must conduct business before, during, or after the party. So we’re talking product demonstration, the debut of a new product or service, or a sales pitch. And the environment must be conducive to conducting business; the IRS believes it is impossible to convince a table-dancing drunk with a lampshade on his head to try your new product.

The IRS once disallowed the write-off of tickets to a baseball game because the loud atmosphere at a ball park does not allow for a comprehensive business discussion.

Rule No. 2 The guest list determines the extent to which you can write off the party. So if you are following Rule No. 1, you have a 100% write off if:

1. The party is open to the general public, or
2. The party is for employees and their spouses

You follow the 50% limitation rules that apply in general to meals and entertainment and write off half the cost if:
1. The party is for customers and prospective customers and/or
2. Independent contractors associated with your firm (they cannot be classified as employees for this purpose).
There is no write off for attendance by family members, even if they are employees or owners. The expense is considered personal and no deduction is allowed. If there is a mix of employees, customers, and family members, allocate the expense and deduct accordingly. For example, if 10 employees and 30 customers attend, and the party costs $400, you may deduct 100% of 25% of the cost (employees) and 50% of the remaining cost (customers). Your deduction works out to $100 (cost allocated to employees) + $150 (cost allocated to customers) for a total write off of $250.

Rule No. 3 The entertainment may not be “lavish or extravagant.” That’s another one of those subjective, gray areas that can be argued all the way up to tax court. But why go there? Keep it simple. If your company grosses $100,000 a year, you likely shouldn’t be helicoptering in your guests.

It’s fine that you follow the rules, but proving you did is another matter. You want to have documentation to prove your case in the event of audit. Here are some tips:

1. Make sure the invitation announces a business purpose. For example: “Come drink in the holiday season and test drive our new cholesterol-free egg beater omelets.”

2. Keep a guest list. Have attendees sign a guest book or track RSVPs so you can prove an accurate allocation of the expense.

3. Take pictures of guests looking at your new products or a video clip of your product demonstration--anything that proves the business purpose.

4. Keep all receipts for all expenses incurred.

5. Maintain all of the above documentation in your tax file.

One final tip: When providing the expenses to your bookkeeper, separate the cost of the party that is 100% deductible to a different category from “Meals and Entertainment.” Track it under “Promotion” or “100% Entertainment” to ensure the full write-off at tax time. Otherwise, your accountant will likely apply the 50% rule to everything under “meals and entertainment” and you will have lost a valuable write-off.

Let’s party!

http://www.barcafinancial.com/

Black or Red Friday?

2010-11-26T11:20:00.000-08:00

It Depends.....

This day after Thanksgiving has two theories of its meaning, I venture to say it has also two outcomes. Consummerism and its behavior will play out as usual on this day. The masses are driven by a media chaotic and frenzy way to boost sales. This is very good for the economy, but as we have learned it is really bad for consumers that spend beyond their means and place these purchases TODAY on a high interest bearing Credit Card. So, is it Black or Red?, it may help retailers go from red to black today-a good thing; but it will certainly will take many consumers into the red. Usually into many years to come. Shopping is an experience and a thrill containing euphoria and excitement. An art actually; to shop for the best bargain and the smell of new; Yes we deserve it this year.... we have gone thorugh a lot, yes we deserve to treat ourselves and buy something we want...

But consumers seldom have the big picture in mind during shopping and or a clear budget analysis. Black Friday depends on consumer behavior and impulse buying. Yes, today you can get really great deals today and you should. But ask this question: "Do I need it or is it nice to have? or Am I paying it so I can own it today or am I going to pay premium prices if I put it with a credit card?" Basic math: look at your credit card's interest rate you will owe. Consider if you can pay it before 30 days. Consider your bank's interest rate of your account. So if you still want to use your credit card you should have that money in the bank at the very least. One more question to ask oneself: "How safe is my job? what would I do if I get laid off? Do I have one year of savings to cover my expenses; btw, a year is what is taking someone to find a comparable job.

Here are the two theories of Black Friday:

The first theory about the meaning behind "Black Friday" relates to accounting and the practice of recording losses in red and profits in black. Since the sales extravaganza is often considered one of the busiest shopping days of the year, stores go from being in the red to being in the black.

The second theory about the meaning behind "Black Friday" is a much more simple, and a much more likely origin. In terms of history, a day is referred to as black if a great disaster occurred, such as the black day in the 1920s when the stock market crashed. However black doesn't always have to be a negative term and can also refer to a basically chaotic day. As shoppers mob stores on the big sale day, it is definitely a chaotic time.

For more information or to request a BUDGET CASH FLOW ANALYSIS PROGRAM visit our website and send for a quote.

http://www.barcafinancial.com/

Happy Holidays Everyone

TAX Calendar

2010-11-16T23:04:00.000-08:00

Below is the Tax calendar

2010
January
15 – Fourth quarter 2009 estimated tax due. Use Form 1040-ES.
February
1 – Deadline for employers to provide copies of Forms W-2 and 1099 for 2009 to employees.
16 – If you claimed exemption from income tax withholding last year on the Form W-4 you gave your employer, you must file a new Form W-4 by February 15 to continue your exemption for another year.
March
1 – Deadline for farmers and fishermen who have a balance due on their taxes to file their 2009 individual income tax returns and pay the balance due without penalties.
15 – Deadline for 2009 corporate tax returns (Forms 1120, 1120-A, and 1120-S) or to request an extension using Form 7004.
April
15 – Deadline to file 2009 individual income tax returns (Form 1040, 1040A, or 1040EZ) and any taxes owed, or to file for an automatic 6-month extension.
15 – Last day to contribute to a traditional IRA, Roth IRA, or SEP-IRA for the 2009 tax year.
15 – First quarter 2010 estimated tax due. Use Form 1040-ES.
15 – Deadline to file 2009 trust tax returns (Form 1041) or to request an automatic extension.
15 – Deadline to file 2009 partnership tax returns (Form 1065) or to request an automatic extension.
June
15 – Deadline for U.S. citizens living abroad to file individual tax returns and pay any tax, interest, and penalties due, or to request a 4-month extension (Form 4868).
15 – Second quarter 2010 estimated tax due. Use Form 1040-ES.
September
15 – Third quarter 2010 estimated tax due. Use Form 1040-ES.
October
1 – Deadline for existing employers to establish a SIMPLE IRA plan.
15 – If you were given a 6-month extension to file your income tax return for 2009, file Form 1040, 1040A, or 1040EZ and pay any tax, interest, and penalties due.
15 – Final deadline to file 2009 partnership tax return if you were given a 6-month extension.
www.barcafinancial.com

2010-09-01T15:03:00.001-07:00

Happy mid week everyone:)

2010-05-01T22:20:00.001-07:00

At Club Level. Sponsoring the Boys Scouts event!

2010-04-29T13:57:00.001-07:00

FA News: How Much Leverage Is Optimal? http://bit.ly/arpBfe

2010-04-29T09:55:00.001-07:00

FA News: Inappropriate Annuity Sales Still An Issue http://bit.ly/aiwfU5

2010-04-29T07:04:00.001-07:00

FA News: Cracking Down On Arbitration-Award Evaders http://bit.ly/cp7jT1

2010-04-27T08:55:00.001-07:00

FA News: Ameriprise's Financial Advisor Unit Drives Strong First Quarter http://bit.ly/dtJo1S

2010-04-27T07:55:00.001-07:00

FA News: Catering To The Hispanic Market http://bit.ly/ay7HpD

2010-04-26T12:56:00.001-07:00

FA News: How Boomers Who Haven't Saved Can Still Build A Nest Egg http://bit.ly/cnJuAI

2010-04-23T07:56:00.001-07:00

FA News: When Clients Want 'Bad" investments http://bit.ly/c8p33H

2010-04-23T06:56:00.001-07:00

FA News: Affluent Buying More LTC Insurance http://bit.ly/9oSQ1h

2010-04-21T12:56:00.001-07:00

FA News: SEC Inspections To Focus On Risk http://bit.ly/amJq65

2010-04-21T10:55:00.001-07:00

FA News: Retirement Quandry Affects All Ages http://bit.ly/9bDH9o

2010-04-21T09:55:00.001-07:00

FA News: Roth IRA Rollovers Could Affect College Financial Aid http://bit.ly/cPSZTD

2010-04-20T07:55:00.001-07:00

FA News: Mutual Fund Ads Called Misleading http://bit.ly/9mvLSC

2010-04-19T09:55:00.001-07:00

FA News: Finra Alleges $89M Private Placement Scam http://bit.ly/ac8dFk

2010-04-17T19:43:00.001-07:00

If going to pima county fair, take rita road, instead of Houghton rd.

2010-04-17T01:37:00.001-07:00

5 Tips for a successful social media marketing campaign
1. The 90-9-1 rule
2. Publish everywhere
3. Graying of the Web
4. Finding it
5. Investment outlook
for definitions contact me

2010-04-16T09:55:00.001-07:00

FA News: Dow Jones Offers Advisor News Service http://bit.ly/dt92IL

2010-04-16T07:55:00.001-07:00

FA News: Alleged Bonus Theft Shows Firms' Hiring Soft Spot http://bit.ly/d8Coro

2010-04-16T06:55:00.001-07:00

FA News: William Sharpe: Do 4% Withdrawal Rates Make Sense? http://bit.ly/aVbAUF

2010-04-15T12:55:00.001-07:00

FA News: SEC Alleges $3M Investment Scam http://bit.ly/b37qAt

2010-04-15T09:55:00.001-07:00

FA News: Schwab Sees1Q Profit Drop; Numbers Of New Advisors Rise http://bit.ly/9gfS6A

2010-04-15T08:55:00.001-07:00

FA News: Pimco Launches Its First Active Stock Fund http://bit.ly/9HsTXh

2010-04-14T08:55:00.001-07:00

FA News: Former Morgan Stanley Broker Must Pay $1.6M In Bonus Case http://bit.ly/bDFdap

2010-04-13T05:55:00.001-07:00

FA News: Some Wealthy Say: Go Ahead, Tax Me More http://bit.ly/dAaZng

2010-04-13T04:55:00.001-07:00

FA News: Spring Brings New Tools From Custodians http://bit.ly/biCLaA

2010-04-12T14:55:00.001-07:00

FA News: SEC Studies Financial Reform To Death http://bit.ly/9dJbSg

2010-04-10T10:35:00.001-07:00

At the fiesta grande fair supporting the community

2010-04-09T06:55:00.001-07:00

FA News: Social Security May Be Rescued By Baby Boomers http://bit.ly/9CdODG

2010-04-08T14:55:00.001-07:00

FA News: CFP Board Posts Anonymous Case Histories http://bit.ly/agJDS8

2010-04-08T12:55:00.001-07:00

FA News: Roth IRA Conversions Fraught With Mistakes http://bit.ly/dzt5QA

2010-04-07T11:55:00.001-07:00

FA News: Retirement Planning Not A High Priority For Many http://bit.ly/apd3EM

2010-04-06T10:55:00.001-07:00

FA News: Ameriprise Financial Still Battling Over Fund Fees http://bit.ly/bm2t4N

2010-04-06T08:55:00.001-07:00

FA News: Retirement Funds Drawing Scrutiny http://bit.ly/cjp2w6

2010-04-05T13:55:00.001-07:00

FA News: LPL Recognizes Advisor http://bit.ly/coDKe4

2010-04-02T08:55:00.001-07:00

FA News: Keeping Family In A Multi-Family Firm http://bit.ly/9GxAvg

2010-04-01T12:55:00.001-07:00

FA News: As Crisis Fades, Clients Remain Needy http://bit.ly/b1vMeI

2010-04-01T11:55:00.001-07:00

FA News: Americans Still Neglecting Retirement, Survey Says http://bit.ly/90glGm

2010-04-01T08:55:00.001-07:00

FA News: Court Restores Status Quo On Fund Fees http://bit.ly/dcHjkr

2010-03-31T10:57:00.001-07:00

FA News: Medicare Tax Impact May Creep Like AMT http://bit.ly/ds1Kya

2010-03-31T09:58:00.001-07:00

FA News: New UBS Layoffs Are Good Sign For Advisors http://bit.ly/alTieS

2010-03-30T07:59:00.001-07:00

FA News: Advisors Plan Move Back To Stocks http://bit.ly/bmmdlo

2010-03-29T11:58:00.001-07:00

FA News: Proposed SEC Public Advocate Debated http://bit.ly/aWdEqc

2010-03-29T10:58:00.001-07:00

FA News: Dividend ETFs Beckon Income-Starved Investors http://bit.ly/c7DIBS

2010-03-29T09:57:00.001-07:00

FA News: Morningstar Launches Major Upgrade of Advisor Workstation http://bit.ly/8Z7QFL

2010-03-29T08:57:00.001-07:00

FA News: The GRAT Rush Of 2010 http://bit.ly/ctMk8C

2010-03-28T20:46:00.001-07:00

Did you know?
DISTRIBUTIONS - If you turned age 70 ½ during 2009, then you are not required to begin taking annual withdrawals from your pre-tax accounts by 4/01/10 (because of the “2009 RMD waiver”) but you must take your 2010 withdrawal by 12/31/10. See a qualified tax consultant for details (source: IRS).

2010-03-26T20:26:00.001-07:00

At Sir vezas

2010-03-26T13:01:00.001-07:00

At Tucson Old Pueblo Studios. TGIF

2010-03-26T07:58:00.001-07:00

FA News: History Says Small-Cap Rally May Be Ending http://bit.ly/byVowx

2010-03-26T06:57:00.001-07:00

FA News: Institutional Approach May Work For Your Wealthy Clients http://bit.ly/cVfpkl

2010-03-25T11:58:00.001-07:00

FA News: Giving More To Both Kids And Charities http://bit.ly/9dQpkA

2010-03-24T11:57:00.001-07:00

FA News: Money Managers Less Bullish, Study Says http://bit.ly/dit0Pe

2010-03-24T08:57:00.001-07:00

FA News: Advisors Quell Client Health-Care Fears http://bit.ly/d1WP42

2010-03-23T08:58:00.001-07:00

FA News: ETFs Buoyed By Health-Care Bill's Passage http://bit.ly/bLv7Ag

2010-03-22T12:58:00.001-07:00

FA News: Investors Cast Closer Eye On Their Money http://bit.ly/bpXX0l

2010-03-22T09:58:00.001-07:00

FA News: Insurers Show Clout In Advisor Standards Fight http://bit.ly/cARasx

2010-03-21T14:15:00.001-07:00

Tucson Hispanic Hispanic Chamber of Commerce Scholarship applications are due Friday March 26th, 2010. Good luck to everyone applying this year.

2010-03-20T10:11:00.001-07:00

Beautiful day at the DMAFB Air show today

2010-03-19T07:57:00.001-07:00

FA News: Investment Income Tax Would Help Pay For Health Care http://bit.ly/c1MbTv

2010-03-18T14:57:00.001-07:00

FA News: Active ETFs A Slow-Moving Stampede http://bit.ly/do0hAZ

2010-03-18T09:57:00.001-07:00

FA News: FINRA’s CEO Expects Eventual Move To Fiduciary Standard http://bit.ly/9ZoVon

2010-03-18T04:58:00.001-07:00

FA News: FINRA’s Enforcement Chief Resigns http://bit.ly/b98sPn

2010-03-17T09:58:00.001-07:00

FA News: Advisors Seek Simpler Annuities, Education http://bit.ly/aU3XNl

2010-03-16T11:58:00.001-07:00

FA News: Move To Independence Puts Focus On Supervision http://bit.ly/bFRExU

2010-03-15T12:58:00.001-07:00

FA News: Fidelity Unveils New Client Service Program For Advisors http://bit.ly/9bP2wp

2010-03-15T09:58:00.001-07:00

FA News: Independents Gain Steam Over Wirehouses http://bit.ly/bXmtBu

2010-03-15T08:58:00.001-07:00

FA News: Fund Investors Shun Stocks Despite Rally http://bit.ly/aMUNfR

2010-03-12T08:58:00.001-08:00

FA News: J.P. Morgan Plans Actively Managed ETFs http://bit.ly/c0FO3U

2010-03-11T12:58:00.001-08:00

FA News: Direxion Launches ETFs http://bit.ly/df95qQ

2010-03-11T11:57:00.001-08:00

FA News: Harry Markopolos, SEC Chairman? http://bit.ly/bAMuMX

2010-03-11T10:57:00.001-08:00

FA News: 'Build America Bonds' A Big Win For Wall Street http://bit.ly/a2hE5s

2010-03-10T14:58:00.001-08:00

FA News: Home Equity Fall Threatens Retirement Goals http://bit.ly/d7pWIL

2010-03-10T13:58:00.001-08:00

FA News: New Regs Needed For Financial Planners, Coalition Says http://bit.ly/be4Sa9

2010-03-09T08:57:00.001-08:00

FA News: Schwab Told To Pay $1.8M To Employee http://bit.ly/b5p9iI

2010-03-08T13:58:00.001-08:00

FA News: Eaton Vance Plans Active ETFs http://bit.ly/aYBdTx

2010-03-08T09:58:00.001-08:00

FA News: Complying As Your Brother's Keeper http://bit.ly/a3LDNS

2010-03-07T22:46:00.001-08:00

A Roth conversion is not an investment issue it is a tax planning issue

New Plan, Story please read

2010-03-07T22:40:00.000-08:00

(Dow Jones) The 2008 market crash focused many investors' attention on the need for guaranteed retirement income. Take a client who came to Clifford Michaels, president of New York-based Institutional Investment Advisors Corp., in early 2009."She was a 64-year-old semi-retired divorcee with $500,000 in her retirement accounts—down from nearly $900,000 at the beginning of 2008—and she had an adult child and an aging mother," says Michaels. "Her portfolio had lost quite a bit due to mismanagement and its failure to reflect her risk tolerance. She was pretty panicked."In addition to her depleted retirement funds, the client had a pension of around $18,000 per year, along with $12,000 from some part-time work with a charity and $15,000 in Social Security payments. All told, her annual income was $45,000, in addition to the $13,000 she was earning in dividends. Still, she had serious, legitimate concerns that she'd outlive her savings.Michaels saw that the client's growth-heavy investments prior to the crash had yielded only 1.5%. "Someone had looked at her age and at the mortality tables and decided that she had almost a 30-year timeline, so why not put her into growth stocks," he says.Michaels set about changing his new client's asset allocation. He shifted some money from stocks to bonds and bond funds. He also made her equity portfolio more conservative by focusing it on stocks with healthy dividends.But Michaels didn't want to sell all the client's stock with the market down so much, so he waited for the market to rebound before implementing a second major shift to his client's investments, which he performed in the fourth quarter of 2009. Now that the portfolio had recouped some of its losses, he took an IRA worth $250,000 and used it to purchase an annuity. "For each year she didn't make any withdrawals, she was guaranteed a 10% increase in payments," says Michaels. "For most of my clients, their number one concern is to take their money today and transfer it to the future, so they receive an income they can't outlive."The changes Michaels made boosted his client's annual dividend income to $20,000, taking her overall income from $58,000 to $65,000. And she'll get a further boost when she's 71 and has to start taking required minimum distributions from the Internal Revenue Service; at that point the annuity in it is guaranteed to be worth $425,000, resulting in RMDs of $21,250."We were able to make up some of her capital loss with a guaranteed annuity. She now has less risk, more diversification, a tax write-off from some of her losses, guaranteed income for life and the ability to meet her RMDs each year," says Michaels. "But the biggest change is that she no longer feels like the glass is three-quarters empty."

2010-03-07T18:58:00.001-08:00

FA News: New Rules Likely To Shake Up IRA Advice http://bit.ly/dueKyp

2010-03-05T08:00:00.001-08:00

FA News: IRA Investors Stick With Stocks http://bit.ly/cWEemZ

2010-03-04T08:58:00.001-08:00

FA News: When To Fess Up About Compliance Miscues http://bit.ly/cYix9P

2010-03-04T07:09:00.001-08:00

I read this quote at hotel congress, to start the day: a positive attitude makes all the difference in the world.

2010-03-03T11:58:00.001-08:00

FA News: IRS Eyes Wall Street Deferred Comp http://bit.ly/aiyOFB

2010-03-03T08:58:00.001-08:00

FA News: Building Value For An Eventual Sale http://bit.ly/bdVCHf