Every year things change, so we have too! We formalized ‘Plan’ to help get to ‘Develop’ & ‘Execute’.
Below are new tools for our goal, your ‘bigger picture’.
TOOL#1 The YourVISION
tool helps you think about your bigger picture AND share it, so we serve you better.
see YourSpace247 portal RH sidebar for new links to our knowledge base.
is an evolving tool produced from your feedback. This new link in your portal RH sidebar is a spreadsheet with tabs (shown below). We jointly track year to year information IRS now requires us to keep, as record of your representation. More importantly, I encourage you to look for items of interest and questions of usability. Having ‘factors’ in one location (a cross reference spreadsheet), and knowing YourVISION, we can work together on ‘what if’ questions. Here’s an overview. Series: ‘MORE TOOLS’ ~ Home economics, budget, mortgage, income taxes
– Permanent info for tax returns/ tax planning for future years.
– Home economics files.
– Estate planning.
– Financial planning.
– Summarize voluminous documents.
– Information for net worth.
– Information for loan application.
– Eldercare, estate, will & trust planning.
The ‘starter’ YourNOTEBOOK (link in sidebar of YourSpace portals) is shown below. It will evolve based on YourVISION & changing needs. Not shown in the ‘starter’ YourNOTEBOOK are many more spreadsheets. The best, I think, are planning/ evaluating future cash flows. For example, what will be your expense needs against various types of later year income sources. Also, evaluate income sources against each other – plan a good mix of sources. ‘READ’ and ‘topics’ are active links, ‘tab’ is unique to and active from your spreadsheet.
|Notes to us||Post notes/ links/ calculations here for open activity.|
|INCOME TAXES||Note to you||We’ll post questions/ notes/ links/ calculations here for open activity for your feedback.|
|Quick estimates||Quick estimating. Useful at anytime either YOUR situation will change OR tax law OR both.|
|Sched C||Track your business income/ expenses|
|Sched E||Track your rental income/ expenses|
|Miles||Useful for repetative reoccuring trips re: mileage travel.|
|Miles/ Meals||Useful when overnight stays are part of mileage travel.|
|Home office||Useful for local mileage and for rentals/ home office deductions.|
|1099 info||Sample uses: Keep track of your year to year 1099’s being issued. Share info here if you wish these prepared.|
|IMPROVEMENTS||Assets||Useful for insurance coverage, for buy/sell tax calculations, and for rentals/ home office deductions.|
|SSA_Est.1||Plan your SS payout timing and spousal options during earning and/or payout. Consider using Roth before taking SS.|
|CREDIT||PswdMgr-Budget||Make passwords easy for you/ hard for others. See your monthy & annual needs. Compare balances to pay down more quickly.|
|AlaCarte-TxSvgs-RNW||Preplanning a buy/ sell transaction can save you thousands. Request further information.|
|DOCS_Reviews_Tax||Document tracking. Simply copy/paste doc links from YourSpace.|
|Parse & total stmts||Copy/ paste your CC or Bk Stmts and easily total payee/ categories. Once setup m akes a breeze of use.|
|PROPERTY TAX||Property Basis||Useful for insurance coverage, for buy/sell tax calculations, and for rentals/ home office deductions.|
|MORTGAGES||Amort||See how to more quickly pay off a balance, especially if non-deductable &/or you can get a better ROI elsewhere.|
|BUYING||ADD THIS||Docs-buy||Document tracking, sharing. Copy/ paste YourSpace links here for all in one place quick access.|
|SELLING||ADD THIS||Docs-sell||Document tracking, sharing. Copy/ paste YourSpace links here for all in one place quick access.|
|LANDLORDING||ACTIVATE||ROI Calc||Compare investments held. Includes appreciation, rent/cash flow, tax savings.|
|ACTIVATE||Valuation||Evaluate home for selling, buy offers, tax protests. Includes seasonal & condition adjustments & market time considerations.|
|RELO||EXPLORE||Relocation||Evaluate a list of agents/ brokers, selected, screened, and parsed by various criteria.|
|Purch/ Refi Qualify||How size loan/ home can I afford? Can I qualify for refinancing?|
|Rehab Tracking||Track rehab project expenses-to-date for you or your property management team.|
|Tenant App||Online input tenant application for prospective tenants.|
|Tracking||Keep log of timing & method of tenant interactions to support statutory compliance.|
|Annual Estimate||Plan the amount you expect for annual income/ expenses and required payroll(s).|
|Payroll card||Track withholding with end of quarter and year to date totals.|
|Quarterly Est||Track 941 and MISUW deposit requirements.|
|YearEnd checklist||Keep books up to date with year end entries. Stay compliant with meetings and minutes.|
|Timecard||Employee and contractor charges/ payments/ and payment threashold triggers.|
* The above is for informational purposes only. Anibal Group LLC is not offering professional advice & this article is not to be considered advice specific to your situation. Your decisions should involve professionals of your choice re: insurance, legal, banking/ lending, structural/ property condition, and other transaction significant matters. We can offer referrals.