Blog

October 8, 2015

Social Security Benefits and Retirement Planning

Dear Dan, I remember very clearly getting my first paycheck. I remember a deduction described as “Social Security.” I remember reading articles predicting that Social Security would be bankrupt by the time I was ready to draw on it. Well, today I am 60 years old, and I just wrote to Social Security to get a copy of my benefits. Now I write to you for advice on which option I should elect. I am confused as to when to take Social Security. I am married and my spouse works with me in the business I own. My daughter will be my successor. The business and its real estate have no debts. So, when should I begin to take Social Security? Signed, No Idea in the Hills of Kentucky  Dear No Idea, When to take Social Security is not a […]
September 9, 2015

The End Goal – Meeting Consumer Needs

In speaking to a colleague recently, the topic of entrepreneurship came up. He remarked that successful entrepreneurs make a decision and do not second-guess themselves. They choose a path and move forward with guts and gusto. Shortly thereafter, I received a call from my sister, who is a regional sales director. A few minutes into our conversation, I made a comment that ended with the phrase, “There is hope.” Her response was, “In the world of sales, hope is not a strategy.” It was barely 8 a.m. and already my mind had been challenged by two poignant thoughts. As I drank my coffee, I reflected on these conversations and how they relate to funeral service. Most of us do not see ourselves as an entrepreneur or salesperson. However, the truth is that we are both. As business owners, we are responsible […]
September 9, 2015

Unlocking the Consumer Relationship

Dan Isard interprets five key dynamics of the 2015 NFDA Consumer Awareness and Preferences Survey.  While funeral directors should review the entire survey he focuses on 5 key dynamics: Attendance, Shopping, Choosing a Funeral Home, Religion and Cremation.  According to Dan, these are important trends or awareness points of consumer interaction.
September 9, 2015

Gift and Estate Planning in 2015

Dear Dan, I’m a long-time reader, first-time writer.  I have an estate of about $4 million.   I am married. My will was written in 2005 by the best law firm in Chicago (Al Capone used it so it must be good). Upon my death, my will creates a family trust and credit shelter trust. I do 200 calls out of one location and own my real estate. I have second-to-die life insurance and life insurance in an irrevocable trust. I fund it each year, giving my kids a present interest in that trust. This plan allows for zero federal estate taxes. I am ill. Not sickly but not buying any green bananas either. Yesterday, I played golf with a young estate lawyer who told me that due to the change in the federal estate tax, all of the wills, insurance […]
September 2, 2015

IRS Rules Regarding Gifts/Part 3

In this final series on IRS Rules Regarding Gifts, Diane DeClercq discusses tax deductible issues pertaining to Employee Rewards and Meals and Entertainment. Tax issues with employee awards are complex. For Meals and Entertainment it is important to keep good records and your receipts.
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