Ted Bauman has led an international life that’s forced him to become an expert in managing money, yet protecting his privacy and assets from the government. This led him to join Banyan Hill Publishing in 2013, and he writes The Bauman Letter, Plan B Club and Alpha Stock Alert to help his readers build their wealth and protect it. He started out as a young man by emigrating from the United States to South Africa. He earned his postgraduate degrees in Economics and History from the University of Cape Town.
One aspect of the new tax law passed near the end of 2017 is how it limits what’s called “SALT.” That’s short for “stand and local taxes.” That includes the sales and property taxes that are deductible on a federal tax return. Effective with 2018, SALT are deductible only up to $10,000. Because of that, many people who pay high SALT and have deducted the full amounts on their federal taxes are going to wind up paying higher taxes. However, state legislators are looking into ways to help the taxpayers in their states. Only time will tell whether states pass new laws in response to the new federal tax bill.
However, the new law eliminates some business expense deductions. The main one is the deduction for the expenses of having an office at home. That is a disadvantage for self-employed people and employees who work at home.
— Ted Bauman Guru (@Ted_B_Guru) January 30, 2018
Bauman also says people can use their Roth IRA to be the sole shareholder of their C corporation. If you don’t have a Roth IRA, open one up, or switch your conventional IRA to a Roth.
Before emigrating to South Africa, Bauman graduated from State University of New York, earning a Bachelor of Science degree in Business Administration. After that, he obtained a Master of Business Administration in Finance from Georgia State University. In South Africa, he managed money for nonprofit organizations helping low-cost housing projects. One of the organizations he helped found there was Slumdwellers International, which has expanded to 35 countries, helping over 14 million people.
His Alpha Stock Alert shares with readers the low-risk ways to build and protect their wealth. It has not had a losing year in the past decade, even during the 2008-2009 financial crisis. His picks are up 565% while the S&P 500 has gone up just 57%. Yet these are the low-risk investments Bauman finds especially for retired people who must conserve their wealth.