Texas Republican as well as Pinal Region, Ariz. Constable Mark Lamb slam the head of state's immigration plans.
Month: March 2021
Dek: Rep. Troy Nehl's, R- T.X. states Biden has to 'get up' to what's occurring at the southern border. #FoxBusiness
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Tax season is upon us again. This year is different for many people because of the economic impact and financial challenges resulting from the ongoing pandemic. Just yesterday, Bloomberg reported that the IRS is planning to delay this year’s tax-filing deadline by one month. This gives taxpayers until May 17 to navigate their tax plans. This extension has not only helped to alleviate the stress of many Americans, but it has also provided a great opportunity to review your own portfolio.
I feel so grateful that the people I care most about—my family, friends, and team members—have been fortunate to get through this tough time better than many others. With a combination of looking forward, being diligent, and using common sense, we have encountered our share of setbacks and worries, but we find ourselves on the verge of coming out a bit wiser, better prepared, and financially more focused than we were only a year ago.
As a mother of seven, I often discuss finances and security with my children. I also find myself doing the same with our employees here. These are important concerns to me, and it really should be no surprise to anyone who knows me that we might, on any given day, end up discussing what “your plans for retirement are” or whether “your nest egg is secure.”
It is not a coincidence that after 20 years in business as America’s Gold Authority®, our company is quickly becoming a popular choice for those looking to diversify their portfolios with a precious metals IRA. We’re committed to researching and developing the right partners, products, and systems needed to be one of the best in the business.
Is your portfolio diversified?
When you examine the assets you hold, you must consider how diversified your portfolio’s asset mix really is. Diversification is an important strategy to employ when constructing your portfolio. It can help grow your portfolio and minimize risk in ways you may not have considered by providing you with new areas of growth potential. Noncorrelated assets can also provide a hedge against market volatility. Both of these factors are important to consider when building your portfolio and making decisions regarding your financial future.
When building a retirement portfolio, a popular choice is to use an IRA. While this a popular retirement vehicle, many IRAs are limited to only traditional paper-based assets, such as stocks, bonds, and mutual funds. If you are looking to add additional levels of diversification to your portfolio, then you should consider the many benefits of a self-directed IRA.
There are many benefits of a self-directed IRA.
While traditional IRAs allow for stocks and bonds, these accounts exclude many assets that can further diversify your overall portfolio. Here are some assets not typically included in traditional retirement accounts: precious metals, real estate, water rights, oil and gas, livestock, and cryptocurrency. A self-directed IRA, on the other hand, can hold these assets. And there are plenty of reasons why you would want to.
According to the Corporate Finance Institute, “alternative assets” tend to show a low correlation with traditional assets, including stocks and bonds. Forbes highlighted on February 23, 2021, that self-directed IRAs have the benefits of more diversification and liquidity than traditional IRAs. These benefits could be especially enhanced by assets like precious metals.
Now is the time to consider using a self-directed IRA to hold precious metals.
Being able to offer a service to our clients that gives them the opportunity to help protect their nest eggs by rolling over or transferring a portion of their existing 401(k)s or IRAs into a precious metals IRA is something that allows us to use our core knowledge of the precious metals business along with our passion for wealth insurance.
With your finances fresh on your mind, the time is now to think about how you can benefit from diversifying with a self-directed IRA by holding assets like precious metals.
The post How to Take Advantage of the Extended Tax Deadline appeared first on U.S. Money Reserve.
It comes around every year. No, it’s not the holiday season. It’s tax season, a time that might not invoke a lot of cheer but it’s still very important to your financial health. Check out this list of important dates for the 2020 tax year and mark your calendars.
Individual Income Tax Returns
You probably know the date by heart: April 15. That’s typically the date when your individual tax return is due, but not this year. As Kiplinger notes, the IRS has extended the date to May 17, 2021.
Last year, the IRS pushed the deadline to June 15 because of the coronavirus pandemic. File your individual tax return for the 2020 year before May 17 or request an extension. If the IRS approves your request for a filing extension, your deadline would shift to October 15, 2021.
State-Specific Tax Extensions
For the 2020 tax year, taxpayers in Oklahoma, Texas, and Louisiana now have until June 15, 2021, to file various personal and business tax returns. This extension affects all 77 counties in Oklahoma, all 254 counties in Texas, and all 64 parishes in Louisiana. The IRS extended the deadline as a result of winter storms that devastated both states in February 2021.
This extension covers individual and business returns for 2020 that would have been due April 15, 2021, and various 2020 business returns that would have been due March 15. Furthermore, the extension delays until June 15, 2021, the payment deadline for estimated taxes that would have been due April 15, 2021.
Estimated Tax Payments (IRS Form 1040)
If you’re required to make estimated tax payments (you’re self-employed, for instance), here are the deadlines you need to know in 2021:
- Income earned January 1 to March 31, 2021—deadline is April 15, 2021.
- Income earned April 1 to May 31, 2021—deadline is June 15, 2021.
- Income earned June 1 to August 31—deadline is September 15, 2021.
- Income earned September 1 to December 31, 2021—deadline is January 15, 2022.
The final deadline for making estimated tax payments for the 2020 tax year was January 15, 2021.
If you don’t pay enough estimated tax by the due date for each income period, the IRS may charge a penalty—even if you’re supposed to receive a refund.
Partnerships and S Corporation Tax Returns
If your business is considered a partnership or an S corporation, you must submit your tax return by March 15 or on the 15th day of the third month after the end of your organization’s tax year. A partnership must fill out Form 1065, which helps produce a Schedule K-1 earnings statement for each partner. S corporations must complete Form 1120S to generate a Schedule K-1.
A partnership or S corporation can ask the IRS for a six-month extension by turning in Form 7004 along with a deposit equaling the amount of estimated tax that’s owed. If an extension is granted, the annual return would be due September 15, 2021, as would any interest and penalties.
C Corporation Tax Returns (IRS Form 1120)
C corporations are the most common legal structures for corporations in the U.S.
As with individual tax returns, C corporation tax returns are due April 15, 2021, for income earned in 2020. A C corporation can request a six-month filing extension by submitting Form 7004 and depositing the amount of estimated tax that’s owed. If the IRS approves the extension, October 15, 2021, would become the new filing deadline. At that point, any penalties, interest, and remaining tax must be paid.
IRA Contributions
For the 2020 tax year, you can make IRA contributions until April 15, 2021. Contribution limits are the same as they were in 2019. Total contributions to all traditional and Roth IRAs cannot exceed:
- $6,000 if you’re under age 50
- $7,000 if you’re 50 or older
- your taxable compensation for the year if the compensation was less than either $6,000 or $7,000, depending on your age
The IRA contribution limit for people under 50 climbed to $6,000 in 2019, from $5,500 in 2018. The over-50 limit went from $6,500 to $7,000.
Staying on Top of Tax Changes
To keep up with tax changes this year and beyond, visit the IRS website. Other tax resources to check out include the TurboTax blog, Forbes Advisor, Kiplinger.com, the Tax Policy Center’s TaxVox blog, and the Tax Foundation’s blog.
We’re all about money-minded education, whether it’s related to precious metals or just general information that could be helpful for anyone looking to build a better financial future. Request a free Precious Metals IRA Kit, and we’ll send everything you need to know right to your doorstep. Be sure to also follow U.S. Money Reserve on Twitter and Facebook for more information about gold IRAs and retirement.
The post Mark Your Calendar! 2020 Tax Deadlines You Don’t Want to Miss appeared first on U.S. Money Reserve.
“Want to keep confidence in the dollar strong? You’d better keep gold and silver prices down.”— Eric Sepanek, Scottsdale Bullion & Coin Founder & Senior Precious Metals Advisor
You keep hearing about the #SilverSqueeze and wondering, “When is the price of silver going up?” You’re not alone. Clients have been asking us the same question.
Here’s the thing you have to understand about silver prices…
…SILVER MARKET MANIPULATION IS REAL. Do a quick Google search. See for yourself how many times the big bullion banks have been caught for silver price manipulation.
Silver price manipulation isn’t the only force working against the price of silver:
The Fed has a strong motivation to keep silver prices low. Why? Because when gold and silver prices rise too high, too fast, investors lose confidence in the dollar. Recall that the price of silver closed at $12.77 an ounce a year ago on March 17, 2020. Closing at $26.37 an ounce on March 17, 2021, the spot price of silver has jumped an astounding 106.5% in just a year.
Silver prices are, arguably, too strong for the Fed already. The current price of silver is evidence that inflation is very real. Right Now.
Gold and silver prices aren’t the only proof of inflation, either. Everywhere you look, prices are up: at the gas station, at the grocery store, on the stock market, and even in your neighborhood.
“We do have a peek at the future: Venezuela is starting to issue million-dollar bills that are worth 50 cents in the U.S.,” said precious metals advisor John Karow. See him and Eric Sepanek give their full analysis of the factors influencing silver prices in the video above. Watch Now.
Suggested Reading: “Currency Collapses? Protecting Against A Revaluation or Redenomination” Get This Report FREE – Click Here!
What’s most impressive? That despite silver market manipulation and potential Fed silver price suppression, the spot price of silver has stealthily shot up. Silver’s market fundamentals are that strong—#SilverSqueeze or no #SilverSqueeze.
The only question left, then, is not, “When is the price of silver going up?” But…
…Why haven’t you bought silver yet?
Because current gold and silver prices are a GIFT compared to where they’re headed.
See the smartest way to enter the silver market now. Order our FREE Silver Investor Report today.
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Don’t Miss These Handpicked Articles & Videos
Why the #SilverSqueeze (And Inflation) Are Very Real
Catch Up Time for Gold & Silver
End Game for Silver Market Manipulation
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Catch Up Time
As the Biden administration adds another $1.9 trillion of “stimulus” debt to an already historically toxic debt pile, the U.S. will be sitting upon over $30 trillion in government debt before Q1 of this year. In order to pay the bills, the Fed MUST suppress rates going forward (especially on the 10Y Treasury, and possibly the 30Y) while simultaneously pursuing a deliberate policy of inflation and currency debasement to “inflate away” some of Uncle Sam’s debt obligations.-Egon von Greyerz of Matterhorn Asset Management
Despite rising money supply, surging inflation, historically low interest rates, a universal bearish outlook for the US Dollar and extremely bullish supply/demand fundamentals – gold and silver prices continue to lag. Just look at silver compared to copper. In 1980, silver’s all time high was $50 oz, while copper touched $1.50 lb. Today, silver spot price is trading at $26 oz, 50% off its 1980 high. Copper is trading at $4.20 lb., an increase of 250% over its 1980 high. Now take gold. The US Money Supply has doubled in the last nine years. Yet, today’s gold price of $1,700 oz is the same as it was nine years ago.
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Of course, we all know why gold and silver have “underperformed”, and that is the result of JP Morgan and fellow banksters who have relentlessly been artificially suppressing the “paper” prices via the NY and London Exchanges, in the process raking in billions of profits at the expense of the everyday investor. However, it takes a certain amount of actual physical gold and silver to perpetuate this scam, and given the extreme supply tightness worldwide, the bullion banks appear to be approaching the end of their rope. In fact, the overall “short” position of JP Morgan and cronies, which is monitored via the Commitment of Traders Report, has been reduced from 325,000 contracts down to 189,000 contracts since January 4th. In other words, the bullion banks, who must be painfully aware of the extremely bullish set up for gold and silver, covered almost 42% of their short position in just several months.
Gold and silver at current prices are a gift. Even the physical market with its relatively higher premiums is a bargain. Knowing that prices are artificially low, while a weaker dollar and higher inflation stares the world in the face, provides you a huge advantage. In the words of precious metals expert, Ted Butler:
Sooner or later, the engineered move to the downside will become exhausted (if it’s not already exhausted) and the market structure will be even more bullish than it is now. This price manipulation process is as regular as the tides. And for long term investors owning physical silver and gold here appears to me to as close to shooting fish in a barrel as is possible.-Ted Butler
It’s Catch-up Time for Gold and Silver
- It’s time to catch up (and exceed) all other markets that have been allowed to trade freely all these years.
- It’s time for gold and silver values to truly reflect the massive uptick in money supply, followed by a demoralized US Dollar to come.
- It’s time for gold and silver prices to properly adjust to the tight physical supplies and surging demand worldwide.
- It’s time to be protected against an economy and stock/bond market built upon a house of cards (free money and forced down interest rates).
- It’s time for gold and silver to reveal their true colors as assets with no counter party risk that have survived for five thousand years as real money.
It’s “catch up” time for gold and silver. And I’m not talking about the condiment we put on our French fries.
Bullish fundamentals, bullish technical charts and an investing public that has yet to really grasp the importance of owning physical gold and silver, is the perfect set up for higher prices that most cannot begin to fathom…
Kitco News
(Kitco News) – Polyus (LSE, MOEX: PLZL) announced today that the company has joined Climate Governance Initiative Russia (CGI Russia), a local partner of the World Economic Forum’s Climate Governance Initiative.
The post Major gold producer Polyus joins Climate Governance Initiative as its key partner in Russia appeared first on WorldSilverNews.
Kitco News
(Kitco News) – Kitco ranked the top ten largest copper operations worldwide based on reported production in 2020 (calendar year).
The post The world’s top 10 largest copper mines in 2020 – report appeared first on WorldSilverNews.
“”silver price”” – Google News
SLV: Silver Showing Signs of Turning Around StockNews.com
The post SLV: Silver Showing Signs of Turning Around – StockNews.com appeared first on WorldSilverNews.