Puritan Financial Group: How to Stay Employed as a Senior

If you’re like a large percentage of older workers around the country, you’re probably having trouble planning your retirement because of financial security. Also, you’re likely to plan working longer into your senior years, or postponing retirement indefinitely. Because of these moves, it’s more important that you stay where you currently work (or have an excellent back-up plan) as you’ll find it hard to get work compared to younger applicants. Here are some steps you can take to ensure that job loss doesn’t happen at a time you need employment and money the most:

Learning new skills is important to surviving and remaining in the workplace, whether you’re a recent hire or already up the ranks. Why? This is because employers always value new ideas, innovations, or better and more efficient ways of doing things. What you can do is sign up for any training your company provides, or undergo schooling offered by the employer. This shows that you have the willingness and capability to tackle the increased demands of the workplace and the increased competition in your particular market or industry. For example, you can take a crash course in computer technology and apply it to work. What’s best is if you can make more money for your company using any new skills you’ve acquired.

On top of making money or saving it for your company because of your new talents, make sure that you and your employer know of your profitability. As long as you’re making more for your employer, you are unlikely to be laid off, especially if you’re consistent. Try to document your achievements at work using spreadsheets on your home laptop or desktop, making sure to include details on your contributions, recognitions, and recommendations received from your boss, your customers, or clients. This data is essential should you want to get a raise or insulate yourself from losing your job because of so-called company “restructurings” or “downsizings.”

Puritan Group is an author who specializes in financial topics concerning seniors. Puritan Financial Group specializes in helping seniors achieve their financial goals and get closer to retiring comfortably. For more information about how Puritan Financial Group can help you, please visit our website at http://www.puritanlife.com

Puritan Financial Group: More on Tax Incentives from the Small Businesses Jobs Act

The Small Business Jobs Act has many incentives for the small business, such as the limited exclusion of capital gains from taxation, as long as the said business qualifies by being a “qualified small business,” “qualified trade or business,” and a “C” corporation. Here’s more information on the benefits you and your company may be able to receive from the act.

One of the most important qualifications for tax incentives under the Small Business Jobs Act is the length of the investment’s holding period. Stock usually needs to be held a minimum of five years by an investor to be eligible for the tax breaks. The investment also has to be for buying stock from the stock issuer directly or from an underwriter, as opposed to the purchase of stock that was previously owned by a shareholder for property, cash, or services.

Firms that specialize in venture capital as well as individual investors are just some of the businesses that can use these tax breaks developed for small business. Virtually all investors (who aren’t corporations) should be eligible for tax incentives if they invest in eligible businesses as stated in Section 1202 of the tax code. Gains that pass through partnerships, “S” corporations, LLCs or Limited Liability Companies, and common trusts may qualify for the tax breaks if they have held the investments in question for at least five years, or transfer stock to individuals from the LLC, “S” corporation, or partnership.

There are a number of notable exclusions to these tax incentives. If the stock issuer repurchases some stock before it is issued, he or she may cause disqualification from the tax exclusion on capital gains. Investors may also become ineligible if they hold the same stock in short sale, get the option to sell it at a fixed amount, or reduce investment-holding risk with a transaction.

These incentives and the projected rate increase on capital-gain taxes can push more investors (including seniors) into investing this year. If you’re a retiree or near-retiree with a small business, find out if you can benefit from the tax incentives provided by the Small Business Jobs Act of 2010 by talking to your tax planner.

This review was brought to you by Puritan Financial Group. Puritan Financial Group is owned by Puritan Financial Companies, based in Dallas TX. Puritan Financial Group is a leading provider of financial solutions for clients beginning in their peak earning years and continuing through retirement, helping them to accumulate, protect and transfer wealth.