FTX: Celebrities Named in Lawsuit

Posted on December 28, 2022 by Dr. David Edward Marcinko MBA

SUSPICIOUS AFFINITY MARKETING?

By Staff Reporters

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DEFINITION: Affinity marketing is a concept that consists of a partnership between a company and an organization that gathers persons sharing the same interests to bring a greater consumer base to their service, product or opinion. This partnership is known as an affinity group.

CITE: https://www.r2library.com/Resource/Title/082610254

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So, after the collapse of Sam Bankman-Fried’s crypto exchange FTX, a number of celebs who had acted as ambassadors for the company were named as defendants in a class-action suit against it.

Comedian and Seinfeld creator Larry David, Tampa Bay Buccaneers quarterback Tom Brady, and basketball stars Shaquille O’Neal and Stephen Curry were likely trading lawyer recommendations in the A-lister group chat.

Beware celebrity and affinity marketing!

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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Filed under: Career Development, Ethics, Glossary Terms, Investing, LifeStyle | Tagged: , , , , , , | 2 Comments »

IRS: Best States for Minimizing Taxes in Retirement

Posted on December 28, 2022 by Dr. David Edward Marcinko MBA

By SMART ASSET

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If shrinking your tax liability is high on your list of priorities, a few states stand out. The winners in the list below either have no state income tax, no tax on retirement income, or a substantial discount on the taxes levied on retirement income. But that’s just the start.

CITE: https://www.r2library.com/Resource/Title/082610254

While several additional states have no state income tax, the states that made our list also have favorable sales, property, inheritance, and estate taxes.

  • Alaska
  • Florida
  • Georgia
  • Mississippi
  • Nevada
  • South Dakota
  • Wyoming

If those seven locations aren’t ideal, consider the next tier of tax-friendly states. Tax benefits aren’t quite as high as those above, but they do stand out in one specific category: no taxes on social security income.

That’s not to say they don’t make up for it in other areas, however. Washington State, for example, has no state income tax, but does have a 6.5% state sales tax. Still, it’s always beneficial to avoid income tax when possible.

  • Alabama
  • Arkansas
  • Colorado
  • Delaware
  • Idaho
  • Illinois
  • Kentucky
  • Louisiana
  • Michigan
  • New Hampshire
  • Oklahoma
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • Washington
  • West Virginia

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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Thank You

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Filed under: "Ask-an-Advisor", Accounting, Retirement and Benefits, Taxation | Tagged: , , , , , | Leave a comment »