Categories
Day Trading

How to Make Money Day Trading Without "Lifting a Finger" – Let Trading Software Take Care of It

Everyone wants to make money day trading, but not that many people actually know how to do it consistently. Making money in the penny stock market can be a challenge. With all of the price movement that goes on, there is a lot of opportunity to win big. However, where there is potential, there is also risk involved. Therefore, it is essential that you have a proven system that can guide you through the ups and downs of the market.

There are many systems out there that claim to be able to help you with your trading. However, most of them amount to theory and don’t actually take you by the hand and perform the work for you. Most of the systems still leave it up to you to make the decisions to buy and sell. While these systems might work for some people, not everyone can interpret the instructions. This is where an automated system can come in handy. For this application, trading software can be very effective.

What is trading software and how can it help you? Trading software automates all of the tasks that aren’t enjoyable about trading. Not many people like to sit in front of a computer screen all day and stare at stock charts. It can get very tedious and your results start to diminish over time. With trading software, it will analyze the charts for you and determine when a profitable pattern is emerging.

Once a pattern is determined, the trading software will alert you to make a trade. It can tell you the name of the stock and the exact point that you should enter. After the trade has run its course, it will also tell you when to get out. The great thing about this type of software is that it can be extremely accurate. It can actually get smarter as it goes, because it has the ability to learn from its mistakes.

The great thing about trading software is that you can make money without lifting a finger. You just turn on the software and let it do its thing. You open the account, make the trades, and watch your account balance grow. Wouldn’t it be nice to have a truly hands-off form of investment? You don’t have to learn everything there is to know stocks and the market. You just learn enough to get the software going and it does the rest.

One of the more popular trading software programs out there is Day Trading Robot. It can do all of the dirty work for you. It will allow you to automate your trading and your money-making ability. If you want to make money day trading, it’s probably a good idea to institute something like this into your portfolio. 

Imagine being able to make money without being an expert in the stock market. The potential is endless.

Categories
Taxes

How Taxes Might Be Affected By Long Term Care Benefits

Long term care insurance policies offer a great deal of benefits that are exempted from federal taxation and most state income taxes. Premiums paid on the policies are treated like health insurance premiums, so they qualify for federal income tax deductions. However, there are limits based on age.

The federal government’s tax deductible limits are based on total annual premiums paid and the age of the policyholder. For people age 40 and under, the maximum annual deduction on long term care insurance is $360 for 2013. Those aged 41 through 50 have a maximum annual deduction of $680 while people from age 51 through 60 have a maximum deduction of $1,360. The deduction for people from age 61 through 70 is $3,640 while those over age 70 have a current maximum deduction of $4,550.

The tax-exempt status on premiums paid for long term care policies is different from those paid for life insurance plans. Life insurance premiums often times only are tax exempt when the benefits paid out from them qualify for income taxation. If a life insurance plan qualifies for tax exempt status when paying premiums, the benefits typically are taxed by the federal government and some state governments as income.

To qualify for federal income tax breaks and most state income tax breaks, a long term care insurance policy must be guaranteed renewable and not grow cash value over time. Such policies are underwritten by life insurance companies. The federal government currently does not tax benefits paying no more than $320 per day. Amounts above $320 might be taxed as income, but the amount is adjusted each year to account for inflation.

Generally, daily benefits that exceed the current $320 federal limit but do not exceed the daily cost of extended care will not be taxed due to the fact they are spent on care instead of amounting to additional income. Total insurance benefits are reported to the federal government by life insurers, who issue 1099 tax forms to policyholders. Policyholders then must claim any taxable amounts on a federal Form 8853.

The benefits can be exhausted quickly when looking at the average cost of care. A semi-private nursing home charged an average rate of more than $220 per day in 2012, which is equal to more than $80,000 per year and easily could exceed even the best year of earnings for most people during their working careers. An assisted-living facility is more affordable at about $44,000 per year in costs with other services costing more. Home health care costs ran about $21 per hour in 2012, making in-home care the most affordable of long term care services.

Categories
Insurance

ARP Long Term Care Insurance Policies

ARP is the leading non-profit membership organization for people fifty years old and older in the United States. According to ARP, the best type of long term care (LTC) insurance policy, which may cost you thousands of dollars a year based on your age and your health status when you apply for it, is one which:

* It is clearly explained when you will be eligible for coverage
* It is clearly explained just how your eligibility for claims will be determined
* Requites no hospitalization time to make you eligible to start receiving benefits
* Will be automatically renewed for as long as you pay the premiums, and will allow you to stop paying premiums once benefit payout begins.
* Has one "reasonable" elimination period (like a deductible; ARP defines "reasonable" as 90 days) for the life of the policy (having an elimination period keeps your premiums lower)
* Definitely covers pre-existing conditions that were disclosed when you applied
* Gives you options for inflation protection
* Permits you to downgrade your coverage if you can't afford the premiums on your current level of coverage
* Will cover Dementia
* Will pay for not less than one year of nursing care and home health care services
* Gives you the right of recision with no questions asked for a full premium refund during the first 30 days that you have the policy

ARP provides LTC policies which are underwritten by the Metropolitan Life Insurance Company (MetLife). These are considered to be some of the best LTC policies in the business, as MetLife agents are highly trained and MetLife has superior assets and claims paying strength. ARP advises people who are interested in buying the best long-term care insurance policies consult either a professional and licensed insurance agent or a financial planner. If these professionals don't advise you, you run the risk of being tempted into not including some of the most important features such as those listed above because the sales agent will try to sell you on lower premiums. Lowering your premiums at the expense of any of these most important features is not worth it.

ARP has now also entered into a relationship with Genworth to provide a portfolio of long-term care coverage with limited features and benefits. These are group plans that offer coverage for significantly lower premiums. ARP group plans for LTC have fewer options than an individual plan would. The prominent features of these group plans include:

* Either a 3 or a 5 year benefit period (benefit multiplier).
* A three-year plan will only pay out 75% of your total benefit to cover home care costs.
* A 90 day elimination period for all care: this means that on average you'd have to pay approximately $ 18,000 out of your own assets and / or savings before your benefits would kick in.
* No survivorship benefit option. On individual LTC policies this is an option that states that if both spouses have a policy through ARP for 10 years and neither one has a claim during that time and one spouse dies, the surviving spouse keeps their LTC policy without having to pay any more premiums .

While this new ARP / Genworth group LTC plan may be right for some people who think they would like their long-term care insurance to have lower premiums, the limitations in features and benefits could make these policies more expensive in the long run if a policy holder needs to make a claim. It's always vitally important to remember that especially when it comes to long-term care insurance you get what you pay for. Higher premiums (with respect to your age and health status) now means greater benefits later on should you ever need to make a claim against the policy.

Categories
Taxes

How Will Federal Health Care Change $850M in Local Taxes Raised in Florida Health Care Districts?

With the passage of the new federal health care law, what will happen to the $850 million in taxes raised every year by local taxing districts around Florida to support care of the uninsured?

In Palm Beach County, the Health Care District has insurance coverage for the uninsured in Palm Beach County. Approximately 40 thousand residents are covered of a total population of 1.3 million.

The District’s Coordinated Care insurance program picks up where Medicaid leaves off, covering up to 150% of poverty ($16 thousand annual income for an individual). There are no deductibles or co-pays with this program. The District’s Vita Health shared-cost insurance program covers from 150% to 300% of poverty and the District pays for two-thirds of the premiums.

The budget for the Palm Beach County Health Care District is $260 million. They have more than 1,000 employees and 1,500 physician relationships.

Details:

• $155 million, or 60%, of the total budget is from property tax receipts. The millage rate is 1.14 mills with a maximum possible by law of 2.0 mills.

• 40% of the budget is from billing (Medicaid, Medicare, Co-Pays, and Deductibles].

Property owners in the Town of Palm Beach currently pay 6.26% of their property tax bills, or $14,555,449, in Fiscal Year 2010 to the County Health Care District. Those taxes are used for trauma care, school nurses, 5 pharmacies for the uninsured, Lakeside Medical Center (public hospital) in Belle Glade, the long-term care Edward J. Healey Rehabilitation and Nursing Center, and insurance for low-income county residents.

The resident of the town are the largest per capita contributors to property taxes in the county.

So the question is, how much will the Town of Palm Beach property taxes change because of the new federal health care law? Nobody knows yet but it will be interesting to see if the Health Care District lowers taxes or finds other uses for the money.