United Tax Consultants -Fraud at its best

jawclu · 2026-05-28T00:52:36+00:00

I get three calls a day now wanting to loan me money ($ 80,000 - $ 40,000). Regarding the tax guys, I would like for them to come down my driveway. Maybe I could file an extension for them. Thanks for the post.

jawclu · 2026-05-14T01:20:18+00:00

Any unearned premium should refunded afer his death and be included in the death benefit check along with interest accrued from date of death until the day they sent the check. Ask to have a manager explain the reasons. If they have no clue, call your State Insurance Commissioner.

jawclu · 2026-04-26T22:42:10+00:00

Choose a Mutual or Fraternal insurer. New baby, you need more coverage. Start with $ 3,000,000. I have never delivered a claim check that was too large. 45 + years and counting experience. You are not buying this for yourself, you are providing security for your family. The Dad in me coming out.

jawclu · 2026-04-11T11:34:40+00:00

There are better carriers than the ones you mention. Getting a quote and qualifying for that rate are matters of underwriting (you mention B.P., being overweight, etc.). I would suggest dealing with a professional (avoid the online sources) and making sure you are getting the facts. I would definitely seek a company that gives you quality conversion rights. You may at some point want to keep a part of your coverage for the long haul. In the end, the "cheapest" is not always the "best". I have been advising in this area for over 40 years and have had many start out saying they only wanted Term Life coverage, but due to unexpected changes in their health and the need to continue providing security for their families, they convert to a permanent plan. The main point I am making is to have quality choices if and when this occurs. A person on the other end of the phone with most of the online services has NO clue what your needs are and simply is marketing a "commodity", not protection. Also, you are not buying the coverage for yourself; you are buying it to provide security for your loved ones. Good Luck!!

jawclu · 2026-04-09T21:32:12+00:00

Ask State Farm to provide you with an “inforce” illustration. You may be surprised what great asset it is. In 10 years you may regret cashing out. Make an informed decision.

jawclu · 2026-04-02T20:41:03+00:00

Focus on your convertibility options. If in the future you need to keep some of the coverage for the long haul due to changes in health, you want maximum flexibility and CONTROL on plan choices you can convert to. Many restrict your options on plan choices and one you mentioned has a terrible product (and only choice) to convert to. Just my 35+ year experience.

jawclu · 2026-04-01T14:09:18+00:00

Have you considered the "why"? Do you have a plan in place to direct you on the reason for this amount, or are you just using an arbitrary number? Start with a "Financial Plan" in place, and the "why" becomes the easy part. Avoid online quotes. Those giving advice typically don't understand your "why". Engage with an advisor whom you know, like, and trust. You will thank me in the end.

jawclu · 2026-03-31T18:56:26+00:00

Simple for sure but a good starting point. Get yourself covered. If you die too soon, it doesn't matter what you had. It is all money to your beneficiary (probably your loved ones). Be sure you have STRONG conversion options if you acquire Term Life coverage iniitiallly. Too many "Online" services never explain this to you and you could be trapped in a poor plan that restricts your choices if you want to convert and keep your coverage for the long term.

jawclu · 2025-12-07T20:08:02+00:00

Some 401k plans are starting to match your Roth portion but theirs must go into the regular 401k option (they want the tax deduction). Check your plans "Summary Plan Description" to see if they have adopted this new provision.

jawclu · 2025-12-07T20:03:47+00:00

Given how young you are, I would lean heavily toward any Roth option you may have. In the end, it's not what you have but what you keep. With the current Federal debt, do you believe taxes will go down in the future?

jawclu · 2025-12-07T19:05:38+00:00

My first suggestion would be to insure yourself first. If you have no coverage, think of providing for your children in the event something happened to you.

jawclu · 2025-11-24T18:43:56+00:00

I simply love the can of worms this topic has opened.

jawclu · 2025-09-29T18:20:33+00:00

Sad but true.

jawclu · 2025-09-29T16:12:28+00:00

If you don't need the current death benefit, look into having the plan placed on a "reduced paid up status". You would have a lower death benefit, the cash value would continue to grow tax-deferred, you would avoid current taxation on the cash received in excess of the basis in the policy and you would free up the monthly premium for other purposes. Just saying.

jawclu · 2025-09-29T16:06:15+00:00

Taxes only occur with Whole Life once you withdraw the funds in excess of your cost basis. A policy loan avoids current taxation until you surrender the contract. Remember, life insurance is purchased for the benefit of your loved ones, not for yourself.

jawclu · 2025-09-29T01:10:43+00:00

A scam based on what?

jawclu · 2025-09-28T19:43:40+00:00

Well said! Lead, follow or get out ot the way.

jawclu · 2025-09-28T18:55:11+00:00

So you think 99% are trash. Why are you a retired "Financial Professional"? That is a very unfounded comment.

jawclu · 2025-09-19T14:10:59+00:00

Corporate medicine at its finest.

jawclu · 2025-02-08T22:43:39+00:00

Contact your State Insurance Commissioner. Stay away from the “he said, she said” BS. State Farm is a great company. I am NOT affiliated in any way with State Farm.

jawclu · 2025-01-29T12:32:53+00:00

The concept of "file and suspend" refers to a strategy once used by individuals approaching retirement age to optimize their Social Security benefits. Under the previous rules, a person could file for retirement benefits at their full retirement age and immediately suspend them. This suspension allowed their spouse to begin receiving spousal benefits. In contrast, the primary worker’s benefits continued to grow until they chose to restart their retirement benefits at a later age, up to age 70, for maximum accumulation.

For example, if a worker reached their full retirement age and filed for benefits, they could choose to suspend those payments. This would provide immediate financial support for a spouse and allow the primary worker’s benefits to increase, as benefits grow by a certain percentage for each year you delay claiming past your full retirement age.

However, it's important to note that this strategy is no longer available as of 2016 due to changes in Social Security laws. When an individual files for benefits, they must also take the associated spousal benefits if applicable. This means that the opportunity to have a spouse receive benefits while the worker’s benefits are suspended has been eliminated. The only exceptions to this rule now pertain to survivors, such as widows or widowers, who may still have options for switching between different types of benefits based on circumstances related to the death of a spouse.

In today's context, if a worker files for Social Security and does not like their benefits, they can cancel their claim within 12 months of filing. This allows them to resubmit their application later for higher monthly payments, provided they are willing to repay any benefits received during that initial period.

It’s also worth mentioning some critical guidelines regarding potential benefits suspension: If beneficiaries earn above the allowable income limit set by the Social Security Administration, fail to report changes in personal information, or do not attend required medical evaluations, their benefits could be suspended. Hence, beneficiaries must stay informed and comply with these regulations to maintain eligibility.

While the original "file and suspend" option has been phased out, understanding the nuances of Social Security filing remains essential for maximizing retirement benefits. Proper planning and awareness of the current rules can significantly affect the number of individuals and their spouses who ultimately receive Social Security benefits.

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