Professionals who use their homes for business purposes must now file IRS form #8829 beginning in 1992. This new form requires the taxpayer to figure expenses more specifically than on the Schedule C which didn't require the taxpayer to identify home expenses separately. If your practice is in your home you need to be aware of this new form.
In another old article, June 1, 1989, I wrote about my son's graduation from LACC that took place on December 17, 1988. My son now lives in Danvers, Massachusetts with his wife, Cheryl. I almost forgot to mention "Thumbles," our four-legged, furry grandson. We visited him recently, and it was so nice to see how well his practice is growing. I was totally amazed at all the kids that he treats in his practice. I saw kids age one on up jumping up on the table for "Dr. Jeff" to adjust them and to see who had the "loudest crack." He sees well over 100 patients per day with less than 13 percent of his practice as personal injury. He truly has a family practice. By the way, he uses the "Greenfield Financial Program," and if you give him a call, I am sure he will tell you, "It works!" Are you using my program? Do you even know about my program? Is it worth a self-addressed, stamped envelope to find out about it? If so, follow the instructions at the end of this article and drop me a line and ask for information on "taking the challenge." You will be so glad that you did.
I answer all of the letters that I receive for additional information. Some of you are surprised when I pick up the telephone and even call (on my nickel). I do appreciate a stamped envelope because I get hundreds of letters, and if I had to pay for all the stamps, that could get quite expensive. After all, it's only 29 cents, so far, and it is deductible. Thanks!
Have you reviewed your credit report recently? Well, you can now and it won't cost you a penny. All you have to do is to contact TRW, at PO. Box 2350, Chatsworth, California 91313-2350. Include your full name, spouses name, social security number, current address including zip code, and addresses for the past five years. Enclose a copy of your driver's license or any other document that shows your full name with a complete current mailing address. They will honor this request once per year at no charge.
Is consistent performance by an investment portfolio important? If you have an account that is up 15% for three consecutive years, and then suffers with one 15% decline, it reduces your four year average annual yield to only 6.6%. How much of a yield would it take in year five to bring your average back up to the full 15%? Any good guesses? Take your pick before you look at the answer. A) 10%, B) 15%, C) 25%, D) 39%, E) 47%, F) 56%. Remember, we are looking for the percentage needed in year five to give us an average annual compound return of 15%. Are you ready for the answer? If you chose any other than F, you were wrong. It would take a 56% return in year five to put you back on track for just a 15% return. Remember that, when you are reviewing your portfolio and your investment adviser tells you not to worry about a little "correction" in the marketplace.
By popular demand, here is the list of the companies that will print checks for you at a much lower price than your friendly banker. You should be able to save at least 30-50%. I will give you the "800" numbers so you can call and request a catalogue.
Current 800-533-3973 Checks in the Mail 800-733-4443 Pridemark Gallery 800-243-7476 Image Checks 800-562-8768Image Checks are new ones that I just added to the list and were included in my newsletter recently. They print business checks too. Checks in the Mail also print business checks. Now you have the list so give them a call.
Does social security owe you? Have you gotten credit for all of the money you paid? Back in 1990, the agency failed to post over 180,000,000 wage reports from prior years. Does that affect you? It could when you file a claim for disability retirement, or survivor benefits. It is suggested that you request a personal earnings and benefit statement from your social security agency every other year. You only have three years, three months, and 15 days after the year in which the earnings occurred to request a correction. After that, it's too late. Call social security's toll-free number, 800-772-1213 for more information.
Need a copy of any of my old articles? Why not just drop me a line, and I will send you a copy for the price of a "SASE." Such a deal! I do get letters that ask for all of my old articles, but it's almost impossible to send that many. I have had over 50 articles published in Dynamic Chiropractic since my first article on April 1, 1988. Maybe one day I will do a book and then I can mail it at a book rate!
Your comments and inquiries may be directed to:
Stanley Greenfield R.H.U.
12873 Huntley Manor Drive
Jacksonville, Florida 32216
Please include a self-addressed, stamped envelope. Thank you.
Editor's Note:
Further advice on finances is available through Mr. Greenfield's newsletter, Greenfield Chiropractic Financial News, #J-314-C, on the Preferred Reading and Viewing List, pages xx.
Click here for previous articles by Stanley Greenfield, RHU.