Financial Planning Considerations Under Joe Biden’s Proposed Tax Plan

With the U.S. presidential election only a few weeks away, it’s timely to evaluate the details of Joe Biden’s tax plan, the potential implications and some strategies that might be worth considering.

Before we begin, it’s worth noting that even if Biden is elected, his tax plan becoming a reality would likely hinge on Democrats also gaining control of the Senate this November. And, even if that occurs, it could prove difficult to increase taxes if the 2021 economy is still fragile due to COVID-19. With that said, it is prudent to understand what the tax implications might be so we can evaluate which planning strategies could be beneficial in advance.

Income Tax Impacts

If you earn more than $400,000 per year, Biden’s income tax plan would negatively impact you in several ways:

  • Under Biden’s plan, the top tax bracket, which is currently $622,051 for married couples filing jointly

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Malcolm Thomas Joins Innovative Financial Group as New Head of Business Development

Press release content from PR Newswire. The AP news staff was not involved in its creation.

NASHVILLE, Tenn., Oct. 14, 2020 /PRNewswire/ — Brian Heapps, President of Innovative Financial Group and former President of John Hancock’s broker-dealer Signator Investors, Inc., announced the addition of Malcolm Thomas as their new Head of Business Development. Thomas was on Heapps’ leadership team while they were both at Signator. Malcolm will immediately step in and take over the acquisition and growth strategy including the expansion of IFG’ s National Network of Advisors and the MyRemoteFA® business.

Thomas joins IFG after spending the past two years as Director of Advisor Success at XY Planning Network, where he led the resource platform that catered to the growth and expansion of over 1200 fee-only fiduciary financial planners and their firms. Prior to joining XY Planning Network, Malcolm was the Head of Business Development

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Wealth Managers Champion Inclusivity And Collaboration In Financial Planning

JR Gondeck and Vanessa Martinez Release “Family Value at Risk” with ForbesBooks

This release is posted on behalf of ForbesBooks (operated by Advantage Media Group under license.)

NEW YORK (October 13, 2020) — JR Gondeck and Vanessa Martinez, partners and managing directors at The Lerner Group, today announced the publication of Family Value at Risk: Inclusive Communication to Pass on Your Family’s Wealth and Legacy. The book is published with ForbesBooks, the exclusive business book publishing imprint of Forbes.

With Family Value at Risk, co-authors JR Gondeck and Vanessa Martinez describe wealth beyond monetary value. It takes a comprehensive view of wealth, including family and legacy, as well as the wider community. This holistic approach to wealth management prioritizes a family’s overall wealth—derived from multiple aspects of life—because, according to Gondeck and Martinez, focusing only on money puts the entire family’s value at great risk.

The Family Value at

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Newtek Business Services Corp. to Report Third Quarter 2020 Financial Results on Wednesday, …

Press release content from Globe Newswire. The AP news staff was not involved in its creation.

BOCA RATON, Fla., Oct. 12, 2020 (GLOBE NEWSWIRE) — Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that it will report its third quarter 2020 financial results after the market closes on Wednesday, November 4, 2020. A conference call to discuss these results will be hosted by Barry Sloane, Chief Executive Officer, and Christopher Towers, Chief Accounting Officer, the following day, Thursday, November 5, 2020 at 8:30 am ET. The live conference call can be accessed by dialing (877) 303-6993 or (760) 666-3611.

A live webcast of the call and the corresponding presentation will be available in the ‘Events & Presentations’ section of the Investor Relations portion of Newtek’s website at http://investor.newtekbusinessservices.com/events-and-presentations. A replay of the webcast with the corresponding presentation

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Mobile Virtual Network Operator (MVNO) Business Plan with Financial Modeling Spreadsheet 2020

The “MVNO Business Plan with Financial Modeling Spreadsheet 2020” report has been added to ResearchAndMarkets.com’s offering.

This is a full business plan based on the launch of an illustrative Mobile Virtual Network Operator (MVNO) known as Contendus

The plan covers all aspects of the company launch plan including market assessment, funding requirements, financial analysis, market segmentation, and product differentiation. Also included is a go-to-market plan, distribution and replenishment plans, comparison of MVNO’s and more. The major benefit of this report is to assist in the development of an MVNO launch and to help validate existing plans.

MVNO Business Plan Financial Modeling Spreadsheet

This detailed, working Excel spreadsheet provides pro-forma information for a five-year projection based on assumptions for Contendus. The spreadsheet provides both data points for analysis as well as a format for modeling your own parameters for a financial assessment of your MVNO Business plan.

Launching an MVNO involves

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Warren Buffett phoned Treasury Secretary Hank Paulson with a stimulus idea when the financial crisis erupted. It may have saved the US economy

U.S. Treasury Secretary Henry Paulson (L) shares a laugh with financier Warren Buffett, Chairman and CEO of Berkshire Hathaway, at the Conference on U.S. Capital Market Competitiveness in Washington March 13, 2007.

  • Warren Buffett phoned Treasury Secretary Hank Paulson at the height of the 2008 financial crisis with a suggestion that likely saved the US economy from an even deeper recession.
  • The famed investor and Berkshire Hathaway CEO proposed the government plow capital directly into banks instead of only buying their distressed assets.
  • Paulson quickly gathered the bosses of the nation’s biggest banks and convinced them to accept billions of dollars in investment.
  • The Treasury demanded preferred stock paying chunky dividends, as well as stock warrants in return, emulating Buffett’s bailout of Goldman Sachs in September 2008.
  • Former President George W. Bush called it “probably the greatest financial bailout ever” and said it “probably saved a depression.”
  • Visit
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Mastercard Incorporated to Host Conference Call on Third-Quarter 2020 Financial Results

Press release content from Business Wire. The AP news staff was not involved in its creation.

PURCHASE, N.Y.–(BUSINESS WIRE)–Oct 9, 2020–

On Wednesday, October 28, 2020, Mastercard Incorporated (NYSE: MA) will release its third-quarter 2020 financial results. The company will host a conference call to discuss these results at 9:00 a.m. Eastern Time.

The financial results will be posted on the company’s website at investor.mastercard.com. The company will issue an alert over a news wire when the earnings materials are publicly available, including a link to those documents.

Conference Call Details:
U.S. dial-in: (833) 714-0894
International dial-in (outside the U.S.): +1 778 560 2664
U.K. local dial-in: 02035478612
Conference ID: 2393503

A replay of the call will be available for 30 days and can be accessed below:
U.S. dial-in: (800) 585 8367
International dial-in (outside the U.S.): +1 416 621 4642
Conference ID: 2393503

A

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Fulton Bank and Reltio to Discuss Digital Transformation in Banking and Financial Services at Forrester Data Strategy & Insights Conference

REDWOOD CITY, Calif., Oct. 8, 2020 /PRNewswire/ — Reltio, an award-winning software as a service (SaaS) company at the heart of helping innovative Global 2000 companies win in the experience economy, today announced it is sponsoring and will present with its customer, Fulton Bank, at Forrester’s Data Strategy & Insights North America conference October 13-15, 2020.

  • Fulton Bank and Reltio will share key insights for powering omnichannel connected customer experiences to more effectively compete in banking and financial services
  • Fulton Financial Corporation’s Vice President of Customer Data Delivery, Gotham Pasupuleti, and Reltio’s Chief Marketing Officer, Jakki Geiger, will present and take audience questions
  • Register now for “Fulton Bank: Powering Omnichannel Connected Customer Experiences,” live on Wednesday, October 14 at 2 p.m. ET 

Fulton Bank is part of Fulton Financial Services (Nasdaq: FULT), a $24.6 billion regional financial services holding company headquartered in Lancaster, PA. Ranked one

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Workday Named a Leader in Gartner Magic Quadrant for Cloud Financial Planning & Analysis …

PLEASANTON, Calif., Oct. 08, 2020 (GLOBE NEWSWIRE) — Workday (NASDAQ:WDAY), a leader in enterprise cloud applications for finance and human resources, today announced it has been positioned by Gartner, Inc. in the Leaders quadrant of the 2020 Gartner Magic Quadrant for CloudFinancial Planning & Analysis 1 for the fourth year in a row.

Today’s business environment requires continuous planning to adapt to ever-changing economic, health, and geopolitical impacts. As a result, finance leaders are turning to Workday to help them model, forecast, and analyze their business with a proven planning solution. Workday Adaptive Planning delivers powerful modeling that’s easy to use, allowing customers to embrace enterprise-wide planning for greater agility. To date, it has been selected by more than 5,300 customers, including American Family Insurance, Denny’s, IBM, Microsoft, and South Shore Health, to manage their financial, sales, workforce, and/or operational planning in the cloud.

Choice and Flexibility to Accelerate

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B. Riley Financial Announces Strategic Investment in IQvestment Holdings LLC

LOS ANGELES, Oct. 7, 2020 /PRNewswire/ — B. Riley Financial, Inc. (NASDAQ: RILY) (“B. Riley” or the “Company”), a leading business advisory and financial services company, today announced a strategic investment in IQvestment Holdings, an innovative fintech company offering an industry leading business-to-business eCommerce platform solution, as well as an SEC Registered Investment Adviser for sub-advised accounts and retail investors.

As part of the transaction, Chuck Hastings, B. Riley Wealth Management CEO, joins IQvestment Holding’s board of directors, and Jon Merriman, Chief Business Officer of B. Riley Financial, joins the firm’s advisory board.

“I am honored to be joining IQvestment Holding’s Board of Directors and look forward to working closely with Mark Healy and his experienced leadership team,” said Chuck Hastings. “As a firm, we are very excited to help grow the innovative digital platform that IQvestment has built to deliver cutting edge technology to their

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