𝗔 𝗯𝗶𝗴𝗴𝗲𝗿 𝗯𝗶𝗹𝗹 𝗳𝗼𝗿 𝗡𝗲𝘁𝗳𝗹𝗶𝘅 𝗮𝗻𝗱 𝗰𝗵𝗶𝗹𝗹

Netflix is raising prices by a couple bucks for US and Canadian customers (again).

On a micro level, that might not sound like a lot. But big picture, it is.

• US consumers are increasingly dropping dimes on streaming, now spending $55 per month, on average, with 4.5 subscriptions.

• For Netflix, with ~75m US customers, $1.50 more per month equates to $1.35B in new annual revenue — without actually adding any new value for customers. It’s a great business model: more money, same work.

But Netflix is also fighting against higher production costs. Last year, the California Film Commission found covid protocols added 5% to the cost of film and TV production budgets.

This raises the question: For any streaming service, at what point do people ask, “Is this worth it?”

And to that, we say — remember the days when you paid $1.29 per song on iTunes?

10 Tips for Cutting Your Tax Bill

Avoid unpleasant tax surprises following these tips and strategies. Some require extra time and a tax professional but might be worth the extra effort. 

1) Contribute to an IRA You may be able to deduct contributions to a traditional IRA, though how much can depend on whether your spouse is covered by a retirement plan at work and how much they make. 

2) Contribute to a 401(k) Less taxable income means less tax, and 401(k)s are a popular way to reduce tax bills. 

 3) Save for College You can’t deduct your contributions on your federal income taxes but might be able to on state returns if putting money in a state’s 529 plan. 

4) Update your W-4 If you received a huge tax bill this year and don’t want another surprise next year, raise your withholding so you owe less when it’s time to file a tax return. 

5) Sell underperforming stocks You can deduct losses on stock sales, which can offset any taxable capital gains you might have. (Never let tax avoidance be a substitute for wise investing). 

6) Charitable contributions Charitable contributions are deductible, and they don’t even have to be in cash. 

7) Earned Income Tax Credit Depending on your earned income, this could be worth looking into. 

8) Contribute to an HSA If you have a high-deductible health care plan, you may be able to lighten your tax load by contributing to a health savings account, which is a tax-exempt account can be used to pay medical expenses. 

9) Dependent Care FSA If your employer offers a dependent care FSA, this could be a great way to lighten the tax bill while paying for preschool, day care, camp, etc.

10) Medical Expenses Make sure you keep track of your medical expenses as you can deduct a percentage of your qualified medical expenses.

- Doug Myrick

*This information is designed to provide general information on the subjects covered. Pursuant to IRS Circular 230, it is not intended to provide specific legal or tax advice and cannot be used to avoid penalties or to promote, market, or recommend any tax plan or arrangement. You are encouraged to consult your personal tax advisor or attorney. 

6 Common Pre-Retirement Mistakes that Cost Dearly

In the best of worlds, individuals start saving for retirement the first paycheck they receive. And while some of us might have been intelligent enough to actually talk about the idea of a retirement account in our 20s, less than one percent of workers actually start and stay committed to depositing in one their entire work life. In fact, the most common time for folks to start their pre-retirement is in their late 40s and 50s, when retirement is now a real possibility in the not-so-distance future.

Yet, even with a good income, there are some big mistakes people can make, fouling up their retirement badly. And the effects won’t be realized until it’s too late to make financial repairs. Here’s how a personal train wreck can happen with very little effort:

1. Moving without researching for retirement – Americans like to move. As a country, we are more prone to change geographically every generation than most other countries. But that wanderlust has a price, and if we move to a location that doesn’t work for the cost of living and retirement, we can pay dearly in our retirement years. This is the issue where what barely suffices as making it in California could buy a person a mansion and 20 acres in Wyoming. If thinking about moving, even in one’s young years, take the time to see how it plays out for retirement.1 The choice now can pay dividends or hell later in senior years.
2. Do the math – We’re constantly told to pay down our debt before retirement, and it makes sense if on a fixed income. But some debt is good to retain.2 If your home mortgage is 3.5 percent and your investing returns eight percent, why would you lose out on 4.5 percent in gains paying down debt now? It sounds counter-intuitive but checking out which interest path pays more is worth the time with the calculator. It’s a bit like realizing how much you spend on gourmet coffee adding up your daily café habit buy for the year.
3. Putting off critical insurance – One thing is for sure: any kind of health or care insurance you buy new is cheaper than 20 years from now when you are older. That’s because you’re a higher risk later on.3 If you can afford it, get long-term care and good health insurance coverage now and avoid paying through the nose for it later when you need the coverage and dig into your retirement to pay it.
4. What do you want to do in retirement – A lot of money is wasted in retirement because people don’t have a plan for what they will actually do. Spend some time now and develop a plan for what you want your retirement to be like. Having a goal will give you purpose and confine your spending to what matters to you.
5. Don’t miss Medicare sign-up deadlines – A key reason people lose money in retirement is due to not following the law and signing up for Medicare when due. Medicare is age-certain, and you have to sign up for it three months before age 65. Waiting for longer triggers a premium penalty you will pay for the rest of your life every month.4
6. Don’t leave Social Security on the table – You worked for it, you earned it, so why do so many people forget about their Social Security benefits? This is literally part of your retirement package, and anyone who worked the required number of years is eligible for recovering payments from their years of paychecks. But the timing matters too; wait long enough and you maximize the benefit, pull too fast and your benefit is almost half what it could be.5 And that will make a big difference in your daily income when you’re in your late years and on a fixed income amount.

A successful retirement takes smarts. Do your research, take advantage of all your benefits due, and check out your options before diving in (including doing the math and figuring out which alternative pays you better in both the short and long runs). And don't forget to check in with your financial advisor to review your retirement goals and plan. 

Reach out to Doug Myrick today to have a conversation.

How To Test Internet Speed On Firestick or Fire TV in 2022

This step-by-step tutorial will show you How to Test Internet Speed on Firestick or Fire TV.

These instructions will also work for Android devices such as NVIDIA SHIELD, MECOOL, Chromecast with Google TV, and more.

Streaming Devices have become the best way to view content and media in High Definition directly on your television.

However, the Amazon Firestick has risen above the rest as the best streaming device because of its low price point and jailbreaking abilities.

Oftentimes, Firestick users encounter Buffering Issues when streaming content.

There are many reasons why your Fire TV or Firestick would have problems streaming and an Internet speed test will help with the troubleshooting process.

Internet Speed is the number one factor when determining your device’s ability to stream videos and more.

It is important to understand that you only need approximately 7-10 Mbps to enjoy a quality HD stream.

As shown in the chart below, anything above 10 Mbps is likely to play High- Definition content with little to no buffering.

What is a Good Internet Speed?

Also, most servers that you are streaming from won’t download much faster than that anyway, especially when using Streaming Apps & APK’s.

Many people get hung up on the notion that their buffering problems are caused due to the fact that they aren’t getting 50Mbps or higher download speed.

I would confidently make the claim that if your Internet speed is 10 Mbps or higher and you are experiencing poor performance, the culprit is the server you are streaming from and really nothing can be done about that.

In the tutorials below, we will install an Internet Speed Test for Firestick called Analiti. Analiti is the most reliable speed test out there.

Test Internet Speed On Firestick/Fire TV – Screenshot Guide

In the guide below, we are installing Analiti on a Fire TV Stick Lite. However, these instructions will also work any Fire TV Device including Firestick 4k, Firestick 4k MAX, and Fire TV Cube.

If using an Android TV Box, you can install via the Google Play Store:

Analiti – Google Play Store

1. From the device home screen, hover over find and click Search

2. Search for and select analiti

3. Choose Analiti Speed Test

4. Click Download

5. You will then encounter Aniliti ready to launch message. Click open and your speed test will begin

NOTE: Users can also choose to sideload Analiti if you choose.

6. Open settings from your Firestick home-screen and choose Applications

7. Click Manage Installed Applications

8. Choose Aniliti

9. Click Launch Application

10. Analiti will now open and begin your Internet Speed Test on Firestick/Fire TV

Internet Speed Extras

If you are an avid cord-cutter, you likely subscribe to a VPN service such as Surfshark or IPVanish. 

Using Analiti to test the Internet Speed on Firestick or Fire TV is a fabulous way to check your VPN speeds when connected.

Frequently Asked Questions:

How do I test Internet Speed on Firestick?

The best way to test internet speed is by using this guide to install Analiti.

How do I improve Internet speed on Firestick?

Adjusting your settings and deleting apps amongst other things will improve your Firestick speed.

What Internet Speed is required for Firestick?

In order to stream HD content, you will likely need around 8-10 Mbps.

Why is my Firestick Buffering?

There are numerous variables that cause buffering including the app you are using, your internet speed, and more.

Does VPN Slow my Internet Speed Down?

All VPNs will slow down internet speed however you can adjust settings within your VPN to help improve this.

- dm

Pickleball is sweeping the nation, and creating a full-blown gold rush

Once upon a time, pickleball was reserved for high school gym class. These days, the tennis/ping-pong/badminton hybrid is experiencing a renaissance that has catapulted the sport to the big leagues, per Bloomberg. A number of factors have led to the pickleball explosion For the unfamiliar, pickleball is played with a square paddle that’s slightly larger than a ping-pong paddle on a court ~⅓ the size of a tennis court. The balls are plastic with scattered holes, similar to a wiffle ball. The game’s simple rules and slower pace make it easier to master than tennis, offering players a solid workout with lower injury risk. This helped the sport build steam among retirees in the Sunbelt -- but it’s quickly grown beyond them. In 2020, ~4.2m people played pickleball, a 21% increase YoY. Business is booming This influx of interest has the pickleball economy hitting on all angles, including: · Events: The Professional Pickleball Association (PPA) held 16 tournaments in 2021, 2x the 2019 total -- and grew prize money from $500k to $2.5m. · Media: Fox Sports signed an agreement with the PPA to air pickleball tournaments nationally, while other tournaments have been featured on CBS Sports Network, Tennis Channel, and ESPN3. · Sponsorships: The PPA has signed on Hyundai and Guaranteed Rate, among other corporate sponsors. Adam Franklin, president of Franklin Sports, maker of a popular ball called the X-40, calls the sport “a bit of a unicorn business.” Looking to join the pickleverse? New courts are popping up at public parks and schools across the country -- and if you want to study up, you can choose from a wide selection of podcasts, books, and even magazines. The best thing about it? There’s no such thing as being too old for pickleball.

Driving Your Personal Car for Business Use

There are many situations in which an employee or owner would drive their personal car for business use, task or activity: travel between worksites, client visits, transportation of clients, travel home from work-related events and even quick stops to pick up food for a meeting. While it may seem innocent, it is important to consider the risks that are assumed in these everyday occurrences.  

Driving a personal car for business use in lieu of a company-owned vehicle may seem to minimize an employer’s liability, but companies can be held partially liable for damages in the event of an accident, and if an insurer discovers the individual was driving for business, it may take action against the employer for subrogation purposes.  

If the employee is making a work-related phone call or taking part in any business-related activity, the employer will be held accountable. When employees will be driving their own cars for work, there are several actions you can take as an employer to mitigate risk. 

Purchase Hired and Non-owned Coverage  

Any company that allows or requires employees to drive their personal car for business use should either purchase hired and non-owned coverage or add it to an existing automobile policy. Hired coverage is for situations in which cars are not owned by the company or the driver, and non-owned coverage protects the company against liability when vehicles that are owned by employees are used on behalf of the company.  

In the event of an accident, these policies supplement the driver’s personal auto policy, which is typically activated first. It’s important to note, for minimal yearly premiums, these policies generally protect the company only, not the car or the driver.  

Use a Company Policy to Reduce Risk 

According to estimates by the National Safety Council, over one million car crashes annually are attributable to cellphone use while driving. Since distracted driving accidents can have serious implications for companies, a company policy that emphasizes the importance of driving attentively and restricts the use of mobile phones is essential to preventing employee accidents in all vehicles, both personal and company-owned.  

In addition, the policy should clearly state when the use of a personal car for business use will be expected or allowed, and all employee job descriptions should specify when driving a personal vehicle will be a job function. As a condition to employment and thereafter at least on a yearly basis, those employees driving personal vehicles should be required to provide: 

• Proof of a driver’s license 

• Motor vehicle safety inspection certificates 
• Copy of insurance certificates proving liability coverage at or above an established company limit including personal injury and medical limits 
• Proof that the employee has declared the use of the auto for business to his or her insurer 
• Exhaustive lists of all prescribed controlled medications  

Further, you should reserve the right to check motor vehicle records annually or more frequently.  

Enforce Your Personal Car for Business Use Policy 

After the driving policy has been instated, it should be actively communicated and enforced. Managers of employees utilizing personal vehicles should be directed to monitor the safety and maintenance of those vehicles. Employees found out of compliance with the company policy should be subject to reassignment or termination. It is every employer’s responsibility to ensure its employees’ safety on the job, and those that use personal vehicles on business are no exception.  

If you have employees who regularly or even occasionally drive their own personal car for business use we highly recommend adding non-owned and hired auto insurance to your coverage. Reach out to us today to review your existing policies to ensure you have sufficient coverage.  

Mortgage Pre-Approval Checklist

Getting pre-approved for a mortgage isn’t required, but it is a good idea, especially in a seller’s market, where competition among buyers is intense. 

You’ll need to verify your income, employment, assets and debts. 

Here’s a list of documents you may need to provide to a lender for the pre-approval process:

Employee 

• W2 
• 2 Most Recent Payroll Stubs 
• 2 Years of Most Recent Federal and State Tax Returns 

Independent Contractor 

• Year-to-date Profit and Loss Statement 
• 2 Years of Form 1099s 
• Any Real Estate Income 

Assets 

• 60 Days of the Entire Bank Statements for Every Bank Account 
• 2 Months of IRA Statements 
• 2 Months of Investment Accounts (Stocks and Bonds) 
• 2 Months of CD Accounts 

Debts (Monthly Debt Payments) 

• Student Loans 
• Mortgage Note 
• Credit Cards 

Other Records 

• 12 Months of Rental History Payments 
• Landlord Contact Information for Past 2 Years 
• Any Divorce Decree 
• Any Court Orders (Child Support, Alimony Payments) 
• Bankruptcy 
• Foreclosures 
• Down Payment Gift Letters