Arazon Financial Group

Tuesday Trivia

What do affluent people say their number one habit for improved productivity is?

44% of affluent people awoke three hours before their work commenced.

source: The Daily Success Habits of Wealthy Individuals

Happy Labor Day! Markets are closed today and will reopen tomorrow.

We hope you have a peaceful and relaxing holiday.

The Congressional Budget Office warned in its latest projections that US federal government debt is on a path from 97% of GDP last year to 116% by 2034 — higher even than in World War II. The actual outlook is likely worse.

advisorstream.com

True or False:

Over a dozen U.S. states have imposed a wealth tax?

So far in 2024, lawmakers in 10 states have introduced wealth-tax bills or are working on introducing them, according to the State Revenue Alliance. They are California, Connecticut, Hawaii, Maryland, Minnesota, Nevada, New York, Pennsylvania, Vermont and Washington.

Check out this article online to learn more - https://www.latimes.com/business/story/2024-08-19/stock-market-today-wall-street-climbs-to-push-its-winning-streak-to-8-days-longest-of-the-year

Have questions? Reach out to us - https://go.oncehub.com/ArazonFinancialGroupLLC

A qualified terminable interest property (QTIP) trust is a type of marital trust used most often with a bypass trust to maximize the use of both spouses' applicable exclusion amounts. Learn more about a QTIP Trust.

Qualified Terminable Interest Property (QTIP) Trust (also called C Trust) A qualified terminable interest property (QTIP) trust is a type of marital trust used most often with a bypass trust to maximize the use of both spouses' applicable exclusion amounts (the amount that can be sheltered from federal gift and estate tax by the unified credit). Perhaps more importantly,....

August is Investors Month

What percentage of stocks, do the wealthiest 1% hold in the market?

A. 25%
B. 49%
C. 55%
D. 63%

The wealthiest 1% holds 49% of stocks, worth $19.73 trillion. If you expand to the top 10%, that group holds 86.9% of stocks, which have a value of $34.7 trillion.

Arazon Financial Group loves supporting animal rescues in Idaho and Minnesota. These organizations do miracles! 🐾

Check out these local to learn more: https://ruffstartrescue.org and https://www.pawshelpspets.org

Investors might be forgiven for not being aware of all of the provisions Congress put into the landmark retirement law it passed more than a year and a half ago. But the unknown could prove costly.

Changes in Retirement Savings Rules to Know Before Year’s End New rules promote Roth treatment of workers’ investments and ease some RMD burdens, among other things.

Generally, any gift over the annual federal gift tax exclusion amount is subject to federal gift tax and generation-skipping transfer tax. But, an exception to this rule exists for tuition payments made directly to a qualifying educational organization.

Can a grandparent pay a grandchild's tuition directly to the college without any gift tax issues? Grandparents can pay tuition directly to a college and avoid federal gift and generation-skipping tax.

Which university has the most ultra-wealthy alumni in the United States?

A. Columbia
B. Northwestern
C. Harvard
D. Stanford

Harvard has more than double the number of wealthy alumni at 17,660 than its closest challenger, Stanford University with 7,972.

Which Olympic Games were the most expensive?

The 2014 Sochi Winter Olympics are considered the most expensive Olympics in history, costing an estimated $52 billion. In comparison, Beijing cost $38.5 billion, London $15 billion, and Tokyo $20 billion.

Read more of the article, "How to Invest in This Fraught Election Year" on our website - https://www.arazonfinancialgroup.com/recommended-readings

Have questions? Reach out to us - https://go.oncehub.com/ArazonFinancialGroupLLC

What country has the world's highest taxes?

A. United States
B. Ivory Coast
C. Dubai
D. China

Answer: B

The Ivory Coast has the highest income tax rate in the world. Where the U.S. employs a progressive tax system with rates ranging from 10% to 37%, the Ivory Coast income tax system has rates ranging from 0% to 60%.

A 10% inflation rate imposes a tax of nearly 7% on the real wealth of the average family. Read here how the government can benefit from inflation while the tax-payer loses.

The Inflation Tax A 10 percent inflation rate imposes a tax of almost 7 percent on the real wealth of the average family, transferring that amount to the government.

Uncertainty is underrated.

Investors can be rewarded for taking on the risk of not knowing exactly how things will play out.

‘Uncertainty is underrated’: Here’s the real reason markets reward those who stick around Given all that is going on in the world, investors have questions. Will the Federal Reserve cut interest rates, and if so, by how much? Who will win the U.S. presidential election, and will it impact markets?

True or False:

The IRS was created to fund social programs for the Great Society.

Answer: False

The IRS first began during the Civil War to cover Civil War expenses, and keep the Union and the military going. Before this, taxes and tariffs earned on goods such as to***co and sugar were enough to keep things running.

Have any questions? Reach out today - https://go.oncehub.com/ArazonFinancialGroupLLC

Most home improvements are not tax deductible — with one possible exception.

In certain situations, you may be able to deduct improvements deemed necessary for medical reasons.

Learn more -

Can Home Improvements Lower Your Tax Bill? It Depends (Jun) Most home improvements are not tax deductible, but there are other ways that certain types of projects might reduce your tax burden.

Sandwich Generation Month

What percent of Americans plan to claim their parents on their 2024 taxes?

A. 9%
B. 21%
C. 38%
D. 54%

Answer: D

More than 54% of Americans aged 25 or older with a living parent said they were planning to claim their parents on their taxes in 2024, and 53% of them said they started doing so in the past two years, according to a Caring.com survey.

It’s All American Pet Photo Day. This day is dedicated to appreciating our lovable pets who make life better every single day.

Share your pet photos in the comments!

Summer vacation time ⛵

How many Americans own a private yacht?

A. 1.2 million
B. 5.7 million
C 11.8 million
C. 25.3 million

In 2020, there were approximately 11.84 million registered recreational vessels in the United States.

If you or your spouse stay home to care for your family, are you contributing to a spousal IRA? Learn more -

Here’s a Tax Break That Married Couples Often Overlook Spousal IRAs could help many couples increase their retirement savings

LOOKING TO Q2 EARNINGS PER SHARE

Earnings season is right around the corner. Last quarter, Q1, the “Fab 5” - consisting of Alphabet (GOOG/L), Amazon (AMZN), Meta (META), Microsoft (MSFT), and NVIDIA (NVDA) - drove 7.8 points of S&P 500 earnings-per-share growth, which was actually slightly more than the rest of the index (“the 495”).

Double-Digit Earnings Growth on Tap This week's Weekly Market Commentary discusses insights from LPL Research on the current stock market, where elevated valuations meet expectations of strong earnings growth, particularly in technology, which may sustain or boost market gains without prompting a near-term pullback.

Arazon Financial Group is a proud supporter of PAWS! They do phenomenal work “at both ends of the leash” in Wyoming and Idaho. It was a blast celebrating them at their 25th anniversary Friday night!

PAWS: 2024 Pet Gala Event Cut V1_3 This is "PAWS: 2024 Pet Gala Event Cut V1_3" by Orijin Media on Vimeo, the home for high quality videos and the people who love them.

Happy 4th of July from Arazon Financial Group!

Which state typically spends the most on firework displays?

A. Minnesota
B. Missouri
C. Texas
D. Idaho

Answer: B

Missouri shoots off the most fireworks in the U.S. The state imports more than 42 million fireworks, which means there are enough for each person in Kansas to shoot off approximately 7 fireworks each ❇❇

In the National Hockey League, determining which team is good enough to hoist the Stanley Cup often comes down to depth, grit and a little bit of luck. These days, it can also hinge on a more mundane consideration: taxes.

Winning the Stanley Cup Is More Taxing Than Ever As the NHL playoffs near their conclusion, it’s becoming increasingly clear that teams from low-tax states have a sneaky advantage.

When it comes to estate planning, insurance is one of the few vehicles that can transfer your wealth tax-free.

Reach out to Arazon Financial Group to learn more - https://hubs.la/Q02CSf5m0