Category: News

Beefing Up Laws for Illegal Immigrants and Preparing for Future Disasters

3 min read

S 5,HR 152,HR 153,HR 164,HR 471, HR 187, HCon Res. 1Laken Riley Act (S 5) – A holdover from the last congressional session, this bill was re-introduced by Sen. Katie Britt (R-AL) on Jan. 6. It is similar to a 1996 law, the Illegal Immigration Reform and Immigrant Responsibility Act, that deports illegal immigrants who are found guilty of serious crimes. This new bill enables the government to detain and deport illegals who are arrested for serious crimes or misdemeanors (such as shoplifting), but they do not have to be charged or found guilty. The legislation passed in the Senate on Jan. 20 and the House on Jan. 22, and it is expected to be the first bill signed by the Trump administration.

Federal Disaster Assistance Coordination Act (HR 152) – This legislation would amend the Disaster Recovery Reform Act of 2018 to authorize a new study designed to streamline and consolidate data regarding the collection of preliminary damage assessments. It was introduced by Rep. Mike Ezell (R-MS) on Jan. 3, passed in the House on Jan. 13, and is currently in the Senate.

Post-Disaster Assistance Online Accountability Act (HR 153) – This is a disaster companion bill, also introduced by Rep. Mike Ezell (R-MS) on Jan. 3. It would create an online repository for recipients of Federal disaster assistance to meet specific reporting requirements. The bipartisan bill passed in the House on Jan. 14, and its fate also lies with the Senate.

POWER Act of 2025 (HR 164) – Also known as the Promoting Opportunities to Widen Electrical Resilience Act, this non-controversial bill was passed on Jan. 15 under a House procedure called “suspension of the rules.” It would allow Federal agencies to provide essential assistance for the emergency restoration of power and not restrict utility company recipients from also qualifying for hazard mitigation assistance if necessary. The bill amends the previous Robert T. Stafford Disaster Relief and Emergency Assistance Act (1988), which details the process for federal government assistance to state and local governments following a major disaster. The bill was introduced by Rep. Valerie Hoyle (D-OR) on Jan. 3 and currently lies with the Senate.

Fix Our Forests Act (HR 471) – The purpose of this bill is to expedite improvements in forest management activities on National Forest public lands under the jurisdiction of the Bureau of Land Management to return resilience to overgrown, fire-prone forested lands. This bipartisan legislation was introduced by Rep. Bruce Westerman (R-AR) on Jan. 16 and passed in the House on Jan. 23. It currently lies with the Senate.

MAPWaters Act of 2025 (HR 187) – This bipartisan bill authorizes the standardization, consolidation, and publication of federal waterways data regarding outdoor recreational uses by the public, as tracked by federal land and water management agencies. The legislation was introduced by Rep. Blake Moore (R-UT) on Jan. 3, passed in the House on Jan. 21, and is under consideration in the Senate.

Regarding consent to assemble outside the seat of government (HCon Res. 1) – This concurrent resolution was introduced on Jan. 3 by Rep. Michelle Fischbach (R-MN). It is a bipartisan resolution, agreed to by all four majority and minority leaders in both houses, that would allow members of the House and the Senate to assemble at a location outside the District of Columbia if it is in the public interest. The resolution passed in the House on Jan. 3 and currently rests in the Senate.

Securing Client Data: The Importance of Encrypted Apps

4 min read

Securing Client DataThe Salt Typhoon cyberattack is among recent cyberattacks that reaffirm the urgent need for robust data security measures. This attack targeted major telecommunications providers, compromising critical infrastructure and potentially exposing vast amounts of sensitive data. With cyberthreats becoming more sophisticated, businesses and individuals must prioritize data security to maintain trust and compliance.

The Role of Apps in Managing and Protecting Client Data

Businesses need apps because they make the work easier and more organized. Apps help teams communicate better, manage tasks, and share information quickly, no matter where people are. The apps also simplify handling customer needs, improving service, and tracking business performance. Generally, apps save time while helping businesses work smarter and stay competitive.

One of the most critical uses of apps is managing client data. This data includes personal details like names and addresses. It also includes financial information such as bank details, as well as business-specific data like contracts and project plans. Losing or exposing this sensitive information can lead to severe consequences, including financial losses, legal penalties, and damaged reputations. Clients may lose trust in your business, leading to lost opportunities and reduced customer loyalty. By using apps effectively, businesses can better organize, safeguard, and utilize client data to build stronger relationships and maintain long-term success.

Encryption: A Critical Security Measure

Encryption has become crucial in modern data security. It transforms readable data into an unreadable format, ensuring only authorized parties can access the information. There are various types of encryptions, including end-to-end encryption (E2EE), which protects data during transmission, and at-rest encryption, which secures stored data.

Following the Salt Typhoon cyberattacks, the FBI and Cybersecurity and Infrastructure Security Agency (CISA) issued a joint advisory urging individuals and organizations to prioritize using encrypted communication channels. Given the vulnerability of traditional communication methods, the agencies strongly recommended adopting end-to-end encrypted messaging apps like Signal for secure communication. This recommendation aims to mitigate the risks associated with compromised telecommunication networks. It also helps protect sensitive information from unauthorized access. Even if cybercriminals intercept the data, they cannot decipher it without the encryption key. This layer of protection mitigates the risks of unauthorized access and data breaches, making encryption an essential tool for businesses.

The Role of Encrypted Apps

  1. Enhanced security: Encrypted apps provide a critical layer of defense against sophisticated cyberattacks. By encrypting data both in transit and at rest, these apps ensure that even if communication networks are compromised, sensitive information remains inaccessible to attackers.
  2. Compliance with regulations: With so many ongoing cyberattacks, regulatory scrutiny of data security practices has intensified. Encrypted apps can help businesses comply with relevant regulations, such as the GDPR and CCPA, by demonstrating a commitment to data protection.
  3. Building trust and customer loyalty: Customers are increasingly wary of data breaches in an era of heightened cybersecurity concerns. Utilizing encrypted apps demonstrates a commitment to data security and privacy, fostering trust and loyalty among clients.
  4. Protecting business operations: Encrypted apps are crucial for protecting client data and safeguarding critical business information, such as intellectual property, financial records, and internal communications. This ensures the continuity and integrity of business operations, even in the face of advanced cyber threats.

Choosing and Implementing Encrypted Apps

When selecting and implementing the right encrypted apps, it is important to consider them carefully. First, it is good to consider industry-specific needs as different industries have different data security needs. For example, while a healthcare provider must comply with Health Insurance Portability and Accountability Act (HIPAA) regulations, a business in the financial industry must adhere to banking regulations. This calls for selecting industry-specific apps.

Businesses also must prioritize apps with robust security features, such as strong encryption algorithms, multifactor authentication, and regular security updates. It is also important to carefully review the data privacy policies of app providers and ensure compliance with relevant regulations.

Effective employee training is also essential for successfully implementing encrypted apps. Employees must be educated on the importance of data security, the proper use of encrypted apps, and best practices for handling sensitive information.

Conclusion

Client data is one of a business’s most valuable assets, and protecting it is paramount. The growing threat of cyberattacks and the increasing complexity of data protection regulations make encryption an essential tool. By embracing encrypted communication channels, businesses can significantly enhance their resilience against sophisticated cyberattacks, protect sensitive client data, and maintain a competitive edge in today’s digital economy.

Tips for Tax Season

4 min read

Tips for Tax SeasonWhether you file your income tax return early or at the last minute, there are ways to simplify the process and reduce what you owe – or even increase your refund – before the deadline.

Filing Simplification Tip

Once you receive your W-2 and/or 1099 tax forms, see what income tax bracket you fall under to determine whether you should itemize expenses or take the standard deduction. Thinking about this step first can save you a lot of time. If you don’t come near the standard deduction amount, you will not be itemizing expenses. And if you are not itemizing expenses, you won’t have to gather all the receipts (e.g., mortgage interest, property tax, state and local income taxes, and sales tax paid in 2024).  

2024 Tax Season Income Tax Brackets

 
Single filer Married filing separately Married filing jointly (includes qualifying widow/er) Head of Household Tax Rate

$0 to $11,600 

$0 to $11,600 

$0 to $23,200 

$0 to $16,550 

10%

$11,601 to $47,150 

$11,601 to $47,150 

$23,201 to $94,300 

$16,551 to $63,100 

12%

$47,151 to $100,525 

$47,151 to $100,525 

$94,301 to $201,050 

$63,101 to $100,500 

22%

$100,526 to $191,950 

$100,526 to $191,950 

$201,051 to $383,900 

$100,501 to $191,950 

24%

$191,951 to $243,725 

$191,951 to $243,725 

$383,901 to $487,450 

$191,951 to $243,700 

32%

$243,726 to $609,350 

$243,726 to $365,600 

$487,451 to $731,200 

$243,701 to $609,350 

35%

$609,351 or more 

$365,601 or more 

$731,201 or more 

$609,351 or more

37%

2024 Tax Season Standard Deductions

Single filer and married filing separately Married filing jointly (includes qualifying widow/er) Head of Household

$14,600

$29,200

$21,900

Retirement Saving Tips

It’s not too late to contribute to an IRA. Both the traditional and Roth IRAs allow you to make contributions for 2024 up until the tax-filing deadline of the following year – which this year is Tuesday, April 15. The advantage to this later deadline is that you can complete your taxes before they are due, then adjust them to reduce your tax liability if needed by contributing to your IRA. The total maximum contribution you can make to all of your IRAs combined (both Roths and traditional) is $7,000 for 2024 or $8,000 if you are 50 years or older.

However, if you have a Roth IRA, there are restrictions to contributions based on your 2024 income. You may make the maximum contribution to your Roth only if your 2024 modified adjusted gross income (MAGI) is less than a certain threshold.

Filing Status MAGI Contribution amount

Single and Head of Household filers

Below $146,000

Between $146,001 and 161,000

Above $161,000

$7,000/$8,000 (age 50+)

Phased (IRS Worksheet 2-2)

Nothing

Married filing jointly

(includes qualifying widow/er)

Below $230,000

Between $230,000 and $240,000

Above $240,000

$7,000/$8,000 (age 50+)

Phased (IRS Worksheet 2-2)

Nothing

Be aware that the amount of deduction you can claim for a traditional IRA contribution may be limited if you or your spouse are covered by a retirement plan at work.

Filing Status MAGI Deduction amount

Single and Head of Household filers

$77,000 or less

Between $77,000 and 87,000

$87,000 or more

Full deduction

Partial (IRS Worksheet 1-2)

None

Married filing jointly

(includes qualifying widow/er)

$123,000 or less

Between $123,000 and 143,000

$143,000 or more

Full deduction

Partial (IRS Worksheet 1-2)

None

Married filing separately

Less than $10,000

$10,000 or more

Partial (IRS Worksheet 1-2)

None

If you make a traditional and/or Roth IRA contribution by the April 15 deadline, you may qualify for the Retirement Saver’s Credit (also available if you contributed to an employer plan by Dec. 31, 2024). The maximum credit is $1,000 ($2,000 for married couples), and it can increase your refund or reduce the tax you owe. However, the saver’s credit is subject to other deductions, credits, and income restrictions.

Filing Status MAGI

Single and Married filing separately

up to $57,375

Married couples filing jointly

(includes qualifying widow/er)

up to $76,500

 

Head of Household Filers

up to $57,375

Work with an experienced tax preparer to take advantage of legitimate deductions and credits to ensure that you only pay what is required for your situation.

National Security

4 min read

National Security, S 3613, HR 5009, HR 2950, S 4367, HR 9668, HR 9716Improving Federal Building Security Act of 2024 (S 3613) – The Federal Protective Service (FPS) contracts security guards to control access to government facilities and screen visitors to detect prohibited items, such as pepper spray and batons. Earlier this year, FPS investigators conducted a covert test at certain federal buildings in which the guards failed to detect prohibited items about 50 percent of the time. In response, Congress passed this bill requiring Facility Security Committees to respond to security recommendations issued by the FPS. It also mandates that the Homeland Security Department submit an unredacted report to Congress regarding FPS surveillance technology recommendations as well as summarize the FPS recommendations that buildings accepted or rejected. However, no additional funding for security is appropriated by the bill, which will sunset five years following enactment. The act was introduced on Jan. 18, 2024, by Sen. Gary Peters (D-MI). It passed in the Senate on March 23, the House on Dec. 10, and was signed into law on Dec. 17.

Servicemember Quality of Life Improvement and National Defense Authorization Act for Fiscal Year 2025 (HR 5009) – This year’s version of the annual funding bill features a 14.5 percent increase in pay for junior enlisted servicemembers, as well as a 4.5 percent pay raise for all other personnel. The legislation also provides cost-of-living allowances per location, improved housing/barracks repair programs, more access to medical and mental health services, and increased employment support for military spouses. The legislation was introduced by Rep. David Joyce (R-OH) on July 27, 2023. This is a bipartisan bill that has passed in both the Senate and the House with various changes. It is currently awaiting signature by the White House for enactment.

Coastal Habitat Conservation Act of 2023 (HR 2950) – Introduced by Rep. Jared Huffman (D-CA) on April 7, 2023, this bill passed the House on Sept. 24, 2024, the Senate on Nov. 21, and was signed into law on Dec. 11. The legislation empowers the Coastal Program of the United States Fish and Wildlife Service to increase efforts to assess, protect, restore and enhance key coastal environments that provide fish and wildlife habitats for certain federal trust species.

Thomas R. Carper Water Resources Development Act of 2024 (S 4367) – This legislation was introduced by Sen. Thomas Carper (D-DE) on May 20, 2024. It passed in the Senate on Aug. 1 and in the House (with changes) on Dec. 10; the final bill is expected to be approved and signed into law by the end of the congressional session. This bipartisan bill is designed to improve the nation’s water resources infrastructure, including ports and harbors, inland waterway navigation, and flood and storm protection; it also strengthens our resilience during natural disasters. The legislation also institutes reforms at the U.S. Army Corps of Engineers in order to streamline processes and deploy projects faster.

SHIELD Against CCP Act (HR 9668) – Introduced on Sept. 18, 2024, by Rep. Dale Strong (R-AL), this bill would establish a task force working with the Department of Homeland Security. The group’s sole focus would be on countering terrorism, cybersecurity, and border/port security related to threats posed by the Chinese Communist Party. The legislation is in response to recent CCP activities such as stealing intellectual property and technology, threats to economic supply chain security and critical infrastructure, and surveillance activities targeting U.S. defense sites and even American citizens. The bipartisan bill passed in the House on Dec. 10 and is currently in the Senate.

Increasing Baseline Updates Act (HR 9716) – In the first quarter of each year, the Congressional Budget Office provides Congress with an annual baseline 10-year projection of the budget and economy based on the fiscal impact of legislative proposals. Updates are released in Q2 and Q3 to reflect newly enacted laws and economic conditions. This bill would mandate that the executive branch provide critical data to the CBO by February 1 of each year to produce a more accurate annual budget baseline. The bill passed in the House on Dec. 11 and currently lies with the Senate. It was introduced by Rep. Blake Moore (R-UT) on Sept. 20, 2024.

Cybersecurity Best Practices for the Holiday Season

4 min read

Cybersecurity The holiday season is when most people go on shopping sprees and travel. This season also witnesses a surge in online activities in today’s digital world. Unfortunately, cybercriminals take advantage of this period to launch attacks. Therefore, cybersecurity should be the top priority for a business gearing up for peak sales or a shopper looking for the best deal.

Understanding Holiday Cyber Threats

Businesses and consumers face unique challenges during the holiday season. For businesses, the increase in traffic and online transactions can overwhelm systems. This may make them vulnerable to attacks. Cybercriminals may use tactics such as ransomware, phishing scams and fraudulent transactions during the busy season. Consumers, on the other hand, get lured by malicious ads, fake websites and phishing emails that may appear as irresistible holiday deals.

Recognizing these risks is important to staying safe for both businesses and consumers. Understanding them also means taking proactive measures to reduce exposure to cyber threats.

Why Cybersecurity Matters

The lack of effective cybersecurity can lead to financial loss, reputational damage and disruption to a businesses’ operations. On the other hand, consumers face identity theft, unauthorized purchases and compromised financial accounts.

According to the Retail and Hospitality Information Sharing and Analysis Center (RH-ISAC), threats such as ransomware, phishing, and account takeover (ATO) attacks intensify as consumer activity surges. In their 2024 Holiday Season Cyber Threat Trends Report, RH-ISAC emphasizes proactive defense measures, especially during high-traffic periods like the holiday season.

Cybersecurity Best Practices for Businesses

Security measures for businesses include:

  • Set up a holiday strategy – over the long holidays, businesses tend to have a change in work schedules and fewer staff members. Having a holiday cybersecurity strategy can safeguard against potential cyber threats. This can include an emergency response plan and designating responsible individuals for cybersecurity.
  • Endpoint security – this involves protecting devices like computers and smartphones used in the business. It is important to update all software, install antivirus programs and enable firewalls to shield the business network from intrusions.
  • Employee training – human error is one of the leading causes of data breaches. Therefore, it is important to educate staff to recognize phishing attempts. They should also know the importance of strong passwords and reporting suspicious activity.
  • Monitoring systems for unusual activity – This requires a business to invest in tools that help detect suspicious behavior in its networks. This should include fraud detection systems that will help identify unusual transaction patterns. It also helps detect potential compromises from third-party vendors.
  • Backup and recovery plan – business continuity in case of an attack is crucial. Therefore, a business should ensure that data is regularly backed up and stored securely. It also helps to test the recovery process regularly.

Cybersecurity Best Practices for Shoppers

Consumers are not immune to holiday cyber-attacks. A consumer must keep the following in mind:

  • Shop from secure websites – shoppers should be cautious by checking website security. They should check that a website includes “https://” and a padlock icon in the URL. Also, confirm the correct name of the website. It is also important to avoid clicking on links from unsolicited emails or social media ads. This is a common phishing tactic.
  • Use secure payment methods – a credit card provides better fraud protection than a debit card. Consider digital wallets that have an extra layer of encryption. It is also crucial to avoid saving payment details on websites.
  • Avoid public wi-fi – shopping on the go may see some shoppers use public networks. These networks expose data to hackers.
  • Be wary of emails and messages with deals that sound too good to be true. Always verify sender authentication and, where necessary, contact the company directly.
  • Be cautious about unexpected package notifications. Unexpected package notifications can be a phishing tactic to steal personal information or install malware. Always verify the sender and avoid clicking on links in unsolicited messages.
  • Be cautious of holiday scams like fake charities, gift card scams and fake gift exchanges that prey on the season’s generosity and excitement. Scammers may trick customers into buying gift cards or sharing personal details through fraudulent schemes. Staying skeptical of unsolicited offers and never sharing sensitive information with unverified sources will help ward off cybercriminal attacks.
  • Activate multi-factor authentication (MFA) – adding MFA creates an extra layer of security for highly sensitive accounts such as email, bank, and work-related logins.

 Closing Thoughts

The holiday season is meant to be a time of celebration and connection, not worry and stress. By implementing robust cybersecurity practices, businesses can protect their operations and customers while shoppers enjoy safe, hassle-free transactions.

Making Pensions Equitable, Protecting Foster Kids, Mail-in Votes and Tracking Government Spending

3 min read

Making Pensions Equitable, Protecting Foster Kids, Mail-in Votes and Tracking Government SpendingAll bills not enacted by the end of the 118th congressional session on Jan. 3, 2025, will expire.

Social Security Fairness Act of 2023 (HR 82) – This bill, with 330 bipartisan sponsors and a similar bill in the Senate, was introduced by Rep. Garret Graves (R-LA) on Jan. 9, 2023. It passed in the House on Nov. 12 of this year and is likely to pass in the Senate before the year’s end. The purpose of the bill is to eliminate the government pension offset that reduces Social Security benefits for individuals who receive other benefits, such as a pension from a state or local government. In the private sector, this would have a similar effect to withholding Social Security from people who have a 401(k). The bill would also repeal provisions that reduce Social Security benefits for spouses and widows/ers who receive their own government pensions. The provisions of the bill would be retroactive to the beginning of 2024.

BOLIVAR Act (HR 825) – This legislation prohibits the head of an executive agency to enter into a contract for the procurement of goods or services with any person that has business operations with the Maduro regime in Venezuela. The act was introduced on Feb. 2, 2023, by Rep. Michael Waltz (R-OH). It passed in the House on Nov. 18, and its fate currently lies with the Senate.

Vote by Mail Tracking Act (HR 5658) – This bill would require mail-in ballots to use the Postal Service barcode and an Official Election Mail logo. It passed in the House on Nov. 18 and is under consideration in the Senate. The bill was introduced by Rep. Katie Porter (D-CA) on Sept. 21, 2023.

Find and Protect Foster Youth Act (S 1146) – This act was introduced on March 30, 2023, by Sen. John Cornyn (R-TX). It would amend a provision of the Social Security Act to require the Department of Health and Human Services to eliminate obstacles to identifying and responding to reports of missing foster care children. Furthermore, it would assist in the assessment and screening of children who are at risk of becoming victims of sex trafficking, as well as identify best practices for effective interventions. The bipartisan bill passed in the House on Nov. 18 and is currently in the Senate.

Billion Dollar Boondoggle Act of 2023 (S 1228) – This bill was introduced by Sen. Joni Ernst (R-IA) on April 25, 2023. The bill would require the director of the Office of Management and Budget to submit an annual report to Congress detailing projects that are over budget and behind schedule. This is a bipartisan bill that has passed in both the Senate and the House, but on July 22, the House made changes and sent it back to the Senate, where it currently resides.

Rural Broadband Protection Act of 2024 (S 275) – Introduced by Sen. Shelley Moore Capito (R-WV) on Feb. 7, 2023, this bill would require the Federal Communications Commission (FCC) to vet applicants for funding of affordable broadband deployment in high-cost areas (including rural communities). The FCC would mandate a process, including a detailed proposal with technical capabilities to provide competitive awards for implementing the broadband network services. The FCC would then assess proposals in line with well-established technical standards. The bill passed the Senate on Sept. 25 and is currently with the House.

Social Media Marketing: A Game-Changer for Business Growth

4 min read

How to Social Media MarketingSocial media has evolved from a simple networking platform to a powerful business tool. Businesses today use these platforms with billions of active users worldwide to connect with their target audience. Social media allows businesses of all sizes to reach audiences in a way that traditional advertising, such as print or television, cannot.

The Role of Social Media Marketing in Business Growth

Social media marketing uses social media platforms such as Facebook, LinkedIn, Instagram and TikTok to promote a business’ products or services. This is done through sharing content like posts, videos and ads to engage a targeted audience and eventually make sales.

With 5.22 billion social media users as of October 2024, businesses can reach customers around the world with ease. The platforms are also suitable for sharing information, enabling companies to communicate with customers about promotions, events or new products or services.

Each platform offers different strengths, and a business can choose which ones suit its target audience. For instance, LinkedIn is more professional and a good platform for B2B opportunities. On the other hand, TikTok and Instagram are suitable for visual storytelling, making them good places to showcase products.

Benefits of Social Media Marketing

Some of the key benefits of marketing on social media include the following:

  1.  Increased Brand Awareness
    Consistently and strategically posting on social media enhances brand visibility. A brand gains recognition as users engage with the content through likes, comments, and shares. Content that goes viral expands a business’ reach, introducing new audiences to the brand.
  2. Improved Customer Engagement
    Social media gives businesses a direct line to customers. Whether replying to comments or through direct messages, these interactions help build trust and create a sense of loyalty. This two-way communication gives businesses a better understanding of customers’ needs while also allowing them to respond quickly to inquiries and feedback.
  3. Cost-Effective Advertising
    Unlike traditional advertising, social media offers cost-effective marketing solutions. With social media, a business can run targeted ads based on demographics, interests or behaviors. This ensures they reach the right audience without wasting resources. This makes it possible for small businesses to leverage paid campaigns to increase their reach while staying within their budget.
  4. Measurable Results and Analytics
    Social media marketing offers the ability to measure results through built-in analytic tools. A business can monitor follower growth, engagement rates, link clicks, and conversions. Such data-driven insights help businesses identify what is working, fine-tune their strategies, and continuously improve their campaigns.
  5. Drive Website Traffic and Sales
    Sharing links to a business website on social media drives traffic to the site and increases conversions.

Social Media Strategies that Help in Business Growth

  1. Content Marketing
    Creating engaging content is crucial in social media marketing. This involves using text, videos, images and infographics to capture the audience’s attention. One powerful tool in content marketing is storytelling – using emotional and relatable stories to connect with audiences will enhance loyalty and trust.
  2. Influencer Marketing
    Influencers have huge followings, and their endorsements can significantly help a business. However, partnering with the right influencer is important to attract new customers and boost credibility.
  3. Paid Ads and Promotions
    With paid ads, a business targets specific audiences in terms of location, age and interests. Social media also enables retargeting campaigns, which remind users about products they have previously viewed.
  4. Community Building
    Social media allows a business to create a community for long-term relationships. This is done through creating groups or pages. These communities develop a sense of belonging, and customers are more likely to engage with the business over time and recommend it to others.

Challenges and How to Overcome Them

  • Staying Relevant in a Crowded Space
    Many businesses compete for customer attention, and standing out can be challenging. Therefore, businesses should keep up with social media trends, experiment with new formats and regularly update their strategies to align with changing consumer preferences.
  • Managing Negative Feedback Publicly
    Businesses may face criticism or negative feedback. Handling these situations professionally is crucial. It calls for prompt responses that show empathy and a willingness to resolve issues. This demonstrates accountability, which can turn a negative experience into an opportunity to build trust.
  • Creating Consistent Content
    Maintaining a steady flow of content can be overwhelming, especially for small businesses. Content calendars and automation tools can help plan posts in advance, ensuring consistent engagement without added stress. Repurposing existing content across platforms is another way to save time and effort.

Conclusion

Social media marketing has become a game-changer for businesses seeking growth in the digital age. It provides cost-effective ways to build brand awareness, engage with customers, and measure real-time success. However, success requires more than just presence – it demands strategic planning, creativity, and adaptability to overcome challenges and maintain relevance.

Pre-Retirement Planning Guide – Legacy Planning

5 min read

Pre-Retirement Planning Guide - Legacy PlanningStep 6: Looking to Legacy Planning to Address Future Needs of Family

How do you want to be remembered? People often view their legacy as a way of disseminating assets to charitable venues to be remembered as passionate and generous supporters. That is one aspect of a legacy.

But perhaps the most important legacy plan is how you want to be remembered by your family, friends and loved ones. If you do not develop an estate plan and communicate it with your loved ones, if you leave your financial accounts and investments in a state of disarray by not keeping files organized and beneficiaries updated, then you leave a huge burden behind when you pass away.

This may very well mar the fine memory your loved ones have for you. After all, having to manage a complex or messy estate over a long period of time could overwrite the previously fond memories they had for you. No one wants their legacy blemished by administrative chaos, so now is the time to get your financial house and estate plan in order. Don’t let the last memories of you be ones of aggravation and bitterness.

Repair and Strengthen Relationships

If you are estranged or have an uncomfortable relationship with someone close to you, do yourself and them a favor by rectifying the situation. This may take time, so begin the process during your pre-retirement planning phase. Remember, no one wants to die having said harsh last words or having not seen a loved one for a long time.

Make part of your plan a commitment to shore up relationships. You can start by making a list of people with whom you should contact, jotting down a few thoughts about what you want to communicate, and devising a plan for how to accomplish this. It might be a special weekend with each of your children, or inviting a long-lost sibling to take a vacation with you, or taking your spouse out to dinner and reiterating your love for one another. Remember, your legacy is about how you want to be remembered, so make some new memories to crowd out any poor ones.

First, Loved Ones; Then Philanthropy

Once your relationships are in good shape (which takes ongoing maintenance – it’s not a one-shot deal), turn your attention to your philanthropic legacy. This includes how you want to distribute your assets to both your family and the causes you care about.

The following are some key components of a legacy plan:

Wealth Transfer

Be sure that your estate plan efficiently communicates and transfers your assets to the appropriate heirs. It also should incorporate prudent tax planning so that your beneficiaries do not pay more in taxes than required. Remember, part of your legacy will be determined by how well you protect your assets, not just from taxes but also from creditors, divorce settlements, and other potential risks.

Education

Leaving a large sum to heirs can be overwhelming. It’s a good idea to help them learn about financial responsibility, wealth management and philanthropy. By helping them understand tactics about which assets to leave intact, which to transfer to other accounts and which they can liquidate for their own use – in a tax-proficient manner – is key to ensuring they’re ready to manage the legacy you pass on.

Charitable Giving

There is a range of sophisticated vehicles that allow you to maximize the long-term value of gifted assets to charitable and passion causes. For example, a donor-advised fund (DAF) enables you to donate cash or securities to a charity-sponsored fund and help direct where charitable grants are distributed. Another option is to set up a private foundation. This is a public 501(c)(3) organization that invests, manages, and distributes your donations to charities; however, this option is really only viable and cost-efficient if you have substantial assets (multi-millions) in your estate.

There are also trust vehicles designed to balance your philanthropic goals with leaving enough assets for your own living expenses and/or an inheritance for heirs. Fortunately, these also may enjoy tax benefits, such as an upfront tax deduction, removing assets from your taxable estate, or avoiding capital gains taxes on donated securities. Here are some examples:

  • Charitable Lead Trust (CLT) – The charity of your choice receives trust income (fixed payment or fixed percentage) for a specified term/or your lifespan, after which the remainder goes either back to you or another trust beneficiary.
  • Charitable Remainder Trust (CRT) – The trust distributes income to you or another beneficiary for a specified term or your lifespan, after which the remainder goes to a designated charity.
  • Charitable Remainder Unitrust (CRUT) – The trust distributes a fixed percentage of its balance to you or a beneficiary for a specified term or your lifespan, after which the remainder goes to a designated charity.
  • Charitable Remainder Annuity Trust (CRAT) – The trust distributes a fixed payment to you or a beneficiary for a specified term or your lifespan, after which the remainder goes to a designated charity.

Setting up a trust to meet a variety of goals is very complex. Be sure to work with an experienced and qualified estate planner to set this up or, again, your legacy could be tarnished if your estate is not disseminated as planned.

Protections for Election Candidates and the Electoral Process; Improving Programs for Veterans and American Indians

3 min read

hr9106, hr6513, s1549, s656, s70Enhanced Presidential Security Act of 2024 (HR 9106) – During an election year, the Department of Homeland Security identifies major presidential and vice-presidential candidates in consultation with a committee of congressional leaders. This bipartisan bill instructs the U.S. Secret Service to use the same criteria for establishing the level of protection for major candidates as provided for presidents and vice presidents. The bill was introduced by Rep. Michael Lawler (R-NY) on July 23. It passed in the House on Sept. 20, in the Senate on Sept. 24, and was signed into law by the president on Oct. 1.

COCOA Act of 2024 (HR 6513) – This bipartisan Act, titled the Confirmation of Congressional Observer Access Act, was introduced on Nov. 30, 2023, by Rep. Mike Carey (R-OH). It was passed in the House on Sept. 9, in the Senate with changes on Sept. 24, and cleared the House with changes on Sept. 25. The president signed it into law on Oct. 4. The bill requires states to designate congressional election witnesses to observe the administration procedures of federal elections, including casting, processing, scanning, tabulating, canvassing, recounting, auditing and certifying ballots during the pre-and post-election period. However, the bill prohibits the observers from handling any ballots or equipment, advocating for a particular candidate, issue, or party, or interfering with the election process in any way. Election officials are further authorized to remove any designated observer who does not follow the guidelines detailed in this bill.

Congressional Budget Office Data Access Act (S 1549) – The Privacy Act of 1974 generally requires written consent before a federal agency is allowed to disclose certain personal records. However, some agencies are exempt from this requirement, including the Government Accountability Office and the National Archives and Records Administration. This bill designates the Congressional Budget Office (CBO) to be exempt as well in an effort to expedite sharing between the CBO and federal agencies. The bill passed in the Senate on June 22, 2023, in the House on Sept. 23, 2024. It was signed into law on Oct. 2, after having been introduced by Sen. Gary Peters (D-MI) on May 10, 2023.

Veteran Improvement Commercial Driver License Act of 2023 (S 656) – This Act was introduced on March 6, 2023, by Sen. Deb Fischer (R-NE). It provides guidelines to approve assistance by the Department of Veterans Affairs (VA) for commercial driver education programs. The requirements include appropriate licensing and usage of the same commercial driver education curriculum as other approved institutions. The bill passed in the Senate on Nov. 2, 2023, the House on Sept. 25, 2024, and was enacted into law on Oct. 1.

Tribal Trust Land Homeownership Act of 2023 (S 70) – This bill was introduced by Sen. John Thune (R-SD) on Jan. 25, 2023. It requires the Bureau of Indian Affairs (BIA) to process and complete all residential and business mortgage packages within 20 or 30 days, depending on the type of application. It also establishes the position of Realty Ombudsman within the BIA’s Division of Real Estate Services. This is a bipartisan bill that passed in the Senate on July 18, 2023, and currently sits in the House, where it has a high probability of passing before the end of the current Congressional session.

Pre-Retirement Planning Guide Estate Plan

5 min read

Pre-Retirement Planning Guide - Step 5: Estate PlanStep 5: Estate Plan

The value of an estate plan is twofold. Yes, you want to pass your assets on to heirs in a seamless and tax-efficient manner. But it is also a roadmap to help your heirs understand the full breadth of your assets, where they are located, and how they should be disseminated according to your wishes.

Two important components of your estate plan come into play before you pass away. The first is a Power of Attorney. This document appoints someone you trust – a relative, a friend or a custodial like a bank – to handle your finances on your behalf should you become incapacitated. The second is a Health Care Directive, in which you name someone to make medical decisions for you when you no longer can. To accompany this document, you also may want to complete a living will, generally a boilerplate form that lets medical providers know if you want to forgo life-saving procedures and treatments if you’re in a terminal condition, a coma or near the end of life. Also known as a DNR (do not resuscitate), this document dictates your wishes rather than placing the burden on someone else.

Write a Last Will and Testament

The more complex the estate, the more likely you will need an estate attorney to help you. However, in many cases, an individual can create a will on his own using state-provided forms. The most important thing to remember is that each state has its own requirements regarding wills, such as whether it can be handwritten or even digital and who and how it should be witnessed and possibly notarized. Every time you move to another state throughout your lifetime, you’ll need to update or replace your will to reflect your new home state’s rules.

Your will should name an executor or personal representative in charge of executing the will’s instructions. If you are not married and have minor children, you’ll need to name a guardian for them once you’re deceased. Note that while the age of majority is generally 18, this can vary by state or jurisdiction. Your will should instruct how your assets should be disseminated and to whom, including contingent beneficiaries (should your first choice die before you), and specifically name anyone whom you don’t want to receive proceeds. For example, without a will as a guide, a probate judge may decide that a step-brother should receive your assets instead of your best friend since he is technically a relative.

Be aware that the beneficiary designations on your accounts (e.g., bank, investment, insurance policies) supersede instructions in your will. For example, if you want your second wife to be the sole beneficiary of your assets but forget to change her as the beneficiary on your 401(k) account, your ex will get the payout. That’s the same for all of your accounts with a named beneficiary, so every time you remarry or experience other life-altering events, be sure to review your account beneficiaries and estate plan documents.

Also, make it easy for your executor to find the documents needed to liquidate and/or transfer assets. A simple way to do this is to keep a three-ring binder or file drawer that houses documents/statements for each of your assets, including banking and investment accounts, former and current employer retirement plans, life insurance policies, annuities, real estate property records, etc. If you have a home or property that needs to be sold with proceeds split among your heirs, you should keep records to help establish the property’s cost basis. This includes the sale price and closing expenses from when you purchased the home, as well as the cost of any major repairs or renovations (e.g., new roof, HVAC, additional rooms). When the house is sold, the amount of the sale price minus the cost basis will determine whether or not capital gains need to be paid. Note that taxes on property and investments will need to be paid before assets can be disseminated to your heirs.

Your will is designed to guide a probate judge so that your estate can be settled quickly. However, if you want your heirs to have access to your assets without being subject to probate, consider naming them as joint account owners on your bank and investment accounts as well as the deeds to your properties.

With larger or more complex estates, you might want to consider a trust. Estate planning trusts vary by the type of beneficiary, payout structure, and tax benefit. A trust avoids probate and can help minimize the tax burden on your accumulated assets. Bear in mind that there are dozens of different types of trusts for different circumstances, so it’s important to work with an experienced estate attorney to determine what works best for your situation.

Remember, your estate plan should be a living document that is reviewed and updated every few years to incorporate any new changes in your life, including marriage, children, divorce, and death.