Book review - "What your CPA isn't telling you" by Mark J. Kohler

Taxes are the largest single expense we have in our lives. To me, if you are not actively planning and strategizing to minimize your tax liability, you are throwing money away. The CPA I have been working with for 5 years now, Mark J. Kohler, has just written a book entitled "What Your CPA isn't Telling You - Life Changing Tax Strategies." When I saw this was available I immediately ordered it as I know from my experience as his client, Mark is always on the cutting edge of tax and business strategy. Two days later it showed up in the mail. I literally tore into it the moment I got it and read it in one sitting. Now, I am an admitted tax and investment nerd, so take this with at least a small grain of salt. However, this book is not a dry manual on how to prepare for taxes. Mark does a wonderful job of relating his strategies to a fictional family scenario that makes this book a quick and engaging read. Mark's strategies are powerful and effective, but they do require some diligence and effort on our part to implement. This book isn't "check a different box on your taxes and save money." The story takes you through a family's journey of re-evaluating the way they run the "business" of their family. There is work and effort involved, but in the end the family learns to save on taxes doing things that they were already doing, enhances their wealth building efforts and grows closer through the lessons involved in running a family business. I highly recommend it to anyone serious about saving and planning for a comfortable retirement. Some of Mark's strategies include:

Starting a small business

The power of investment real estate

Understanding HSA's and saving on our health care

Self-directing your assets for retirement

Now some of these things may frighten you, but give this book a read with an open mind and I promise you will find something worth your while.

What's Ahead For Mortgage Rates This Week : March 14, 2011

Mortgage markets improved last week in a week of few economic releases. The one major data point -- Retail Sales -- showed stronger-than-expected, but markets reacted mildly. The report's strength was whispered in advance of the actual release; its reading validated Wall Street's growing faith in the U.S. economy.

Most action last week revolved around the Middle East:

• Libya's internal turmoil continued
• Bahrain clashes intensified
• Saudi Arabia's citizens planned a Day of Rage

In response to these events, Wall Street continued its flight-to-quality. Mortgage-backed bonds are now at their best levels since early-February. Mortgage rates have improved 4 straight weeks.

Unfortunately for rate shoppers in Utah , the gains have been meager. Conforming mortgage rates have only dropped slightly.

This week, however, the market could move in either direction.

The biggest news on tap is the Federal Open Market Committee's 1-day meeting, scheduled for Tuesday. The Fed is expected to leave the Fed Funds Rate near 0.000 percent, but that doesn't mean that mortgage rates won't change. The FOMC's post-meeting press release will be closely scrutinized on Wall Street. Any changes in theme, tone, or message will cause mortgage rates to dart.

This week also marks the return of housing data with Housing Starts, Building Permits, and Homebuilder Confidence due for release. Housing is believed to be key to the economic recovery so strength in these reports should lead mortgage rates higher.

In addition, several inflation-related data sets will be released including Consumer Price Index and Producer Price Index. Inflation is generally bad for mortgage rates and with gas prices rising to a multi-year high, pressure will be on for mortgage rates to rise.

Lastly, there's Japan.

The nation's earthquake, tsunami, and (now) looming nuclear threat will have implications on the global bond market. Mortgage rates may benefit while the crisis remains unresolved. 

If you've floated a mortgage rate over the past few weeks, it may be time to lock that rate down. Economic factors should be pushing rates higher, but geopolitics and natural disasters are keeping them low.

It's a perfect time to commit to a loan.