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EDITOR Donald A. Mounce, APR +1.800.233.4472 X-473 mbnews@monumentbuilders.org

PRODUCTION MANAGER Richard L. Martin

MBNews EDITORIAL ADVISORY BOARD

Leadership Insights

EC Liaison – Bobby Mattos, AICA Bras & Mattos Monument Co. bobby@mattosmonuments.com

By Alison Raymer, CM, 2016 MBNA President

EAB Chair – Matt Worthington Worthington Monuments matt@worthingtontx.com

Member Services By Alison Raymer, CM, 2016 MBNA President

Dustin Anderson, AICA Dakota Monument Company dustin@dakotamonument.com

Every Life Remembered By Matt Worthington

Marc Arntzen Gem City Memorials, Inc. gemcitymemorials@sbcglobal.net

Legal Insights By Martin Cross

Perry Giles, CM Giles Monument Company, Inc. perry.giles@gilesmonument.com

Insurance Insights By Mike Windham

Business, Estate, and Tax Planning By Joseph Zaidain, CPA/ABV/CFF, PFS, CVA, AIF®

Communication Insights By Joe Curcillo

MONUMENT BUILDERS OF NORTH AMERICA 136 South Keowee Street Dayton, OH 45402 +1.800.233.4472 FAX +1.937.222.5794 info@monumentbuilders.org www.monumentbuilders.org

HEADQUARTERS TEAM

Legal Ecommerce Insights

Kimberly A. Fantaci Executive Vice President +1.800.233.4472 X-106 info@monumentbuilders.org

By Andrew A. Gonzalez, Esq.

Business Insights

Brian Bowman Association Executive +1.800.233.4472 X-103

By Jill Johnson

Tax Insights

James Perry Project Manager +1.800.233.4472 X-104

By James Lange, CPA/Attorney

Industry Calender New Members Classifieds/Advertisers Index

Brian McKenzie Events Manager +1.800.233.4472 X-114 Tina Schneider Chief Administrative Officer +1.800.233.4472 X-101

ON THE COVER

The Clifford monument was designed and sold by Terry Joy of Joy Monument Company in Louisville, Kentucky. Artisan Mahogany Granite was selected, and the company commissioned Buttura and Gherardi to sculpt the memorial. The memorial’s design is not a celebration of life…it depicts the sadness of an untimely and tragic death of a teenage son. The sculpted, rough rocked texture and the split contours represent the shattered and torn lives of a grieving family. The Christian cross was selected and displayed to remind all that, through Christ, everyone will receive His gift of eternal life in Heaven. Matthew’s name has been placed within an unbroken interlocking link, which represents a mother’s never ending love and that their bond that can never be broken.

Mission To define and promote memorialization in a viable, innovative and diversified way for the membership and to enhance the awareness of memorialization by the general public and the remembrance industry.

POSTMASTER – Send address changes to MB News, 136 South Keowee Street, Dayton, OH 45402. Telephone: +1.800.233.4472 Fax: +1.937.222.5794 E-mail:info@monumentbuilders.org Web: www. monumentbuilders.org Closing date: Four weeks proceeding date of publication. We reserve the right to accept or reject any advertising or editorial material. Subscription rate is $70 annually for members, which is included in the annual membership dues. The rate for non-member subscriptions or additional subscriptions requested by MBNA members is $125 a year. Single issue price is $12. ©2016 Monument Builders of North America

MBNews

MBNews (ISSN 0192-2491) is published monthly with the Buyer’s Guide in April by Monument Builders of North America (MBNA), 136 South Keowee Street, Dayton, OH 45402. Periodical postage-paid at Dayton, Ohio and additional mailing offices./ 3 / January 2017


Introducing one of our newest additions to the Distinctively Dakota Designs Collection, DG1612 Brooks. This design is fabricated in our Dakota MahoganyÂŽ Sunset granite and features a natural rustic shape. The front of the design compliments the natural feel with the addition of elegant carved calla lilies. See this new design and many others at the 2017 MBNA Show.

Design

NEW DISTINCTIVELY DAKOTA DG1612 BROOKS

2017 MBNA Monument Industry Show When: February 10-12 Where: Indianapolis, IN Booth: 601 4 / January 2017 / MBNews

View our entire collection of Distinctively Dakota Designs online.

DAKOTA GRANITEÂŽ

800-843-3333 Visit our website www.dakotagranite.com or follow us on facebook. www.facebook.com/dakotagranite


LEADERSHIP I N S I G H T S By Alison Raymer, CM, 2016 MBNA President

Time Flies When Elevating It is truly hard to believe how quickly a year has passed and that the time has come for me to transition into the role of the immediate past president of the MBNA. It has been a busy year serving the needs of our organization, which is likely why it has passed so quickly; as they say, time flies when you are having fun! This year the leadership team at MBNA, along with the tireless efforts of our volunteers, has accomplished amazing things on behalf of our members. We have: ● Created our 2017-2020 Strategic Long-Range Plan. ● Redefined and refocused our Consumer Advocacy Program, which is now the MBAdvocacy Program. ● Reviewed, interviewed and hired a new MBAdvocate to serve our members’ needs. (You will hear more about that next month!) ● Strengthened the organization’s industry relationships through our continued support of FAMIC. ● Created flexible payment arrangements for annual membership dues and convention fees. ● Proposed language updates in our by-laws to include monument builders who were once excluded from MBNA. ● Planned an amazing convention for Indianapolis, and have started planning for the next 4 conventions. (Yes, I did say the next 4!) ● Enhanced MBNews with valuable content and inspiring photos. ● Are in the process of creating what we believe will be a successful nation-wide marketing campaign.

● Have continued to work on our professional certification programs. ● Plus, we have developed a new relationship with Aflac to provide information and services to our members. See page 7 in this issue for some initial information. It takes a collective, long-term commitment from all of you to make an association like ours sustainable. I think it is only fair that special thanks go out to the volunteer members on our Executive Committee. A special “thank you” to: Dave Anderson, AICA; Scott Neal; Mike Johns, CM, AICA; Josh Bell, AICA; Bobby Mattos, AICA; Ken Reeson, AICA; and Roger Aholt, CM. I would also like to thank the volunteer members of the Board of Trustees: Edward Howlett, CM; Anthony Tirabassi; George Chicora; Joseph Timms III; Edward Kotecki IV; Matt Worthington; Marc Arntzen; Eric Zabel CM, AICA; Sam Flocks; and, Ronald Westbrook, CM. While there is still much to accomplish, the new Executive Committee and Board of Trustees is excited and motivated to serve our MBNA members. Going forward, it is clear to me that MBNA will be in exceptional hands under the leadership of President Dave Anderson and President-Elect Bobby Mattos. Serving as your 2016-2017 MBNA President has been an honor, joy, and experience that I will always cherish. I have met many new colleagues and friends, have gained numerous invaluable ideas, and truly learned from every experience this opportunity has provided. Thank you all for Elevating MBNA and its future! MB MBNews / January 2017 / 5


By Alison Raymer, CM, MBNA President

As an Association, we look for ways to provide meaningful enhancements to our member firms and their employees. With an ever-changing and increasingly expensive health insurance market, the Association wanted to introduce a supplemental insurance carrier that would help our member firms build a comprehensive benefits package without incurring additional expense. The Monument Builders of North America is pleased to announce our newest Affinity Program with Aflac. Aflac is a well-known brand with a strong reputation and has been named to Ethisphere’s “World’s Most Ethical Companies

List” for 10 consecutive The Monument years. Builders of With over 8,200 North America employees and 74,000 is pleased to licensed agents, Aflac is announce our able to fully support the newest Affinity needs of member firms Program with and their employees. Aflac Aflac. Agents offers coverage to nearly working with 500,000 U.S. businesses and has tremendous Monument experience in delivering Builders of North meaningful benefits. America are Agents working with hand-selected to Monument Builders of ensure the best North America are handselected to ensure the best service possible. service possible. With rising costs of healthcare today, paired with increasing deductibles and out-of-pocket maximums, Aflac is designed to help offset the out-of-pocket expenses associated with a medical event. Aflac pays a predetermined benefit amount directly to the policyholder. At the time of claim, policyholders can use the funds for whatever the immediate need is -- deductible, co-pays, loss of income, and/or maintain everyday living expenses.    Member firms who have an immediate interest should contact our Aflac representative, Megan Dimond, at megan_dimond@us.aflac. com or +1.651.329.8168. Otherwise, Megan Dimond will begin to contact our member firms in January of 2017. We hope this new Affinity Program with Aflac will provide a sense of comfort in these changing times. We are proud to work with Aflac, and we hope you will be too. MB MBNews / January 2017 / 7

AD-MBNA-3.5x4.75-prod.indd 1

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By Matt Worthington

Honoring Heroes

Editor’s Note: Memorialization is about honoring and respecting life. Unfortunately, there are too many graves that go unmarked and lives that go unremembered. Our livelihood is connected to honoring and remembering life, so have some fun and make a statement against apathy by finding and marking graves and other meaningful sites that have been forgotten. There’s no “right way” to do this, but here are three steps to consider:

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Work with local cemeteries and historical institutions to find graves or other sites of significance that have never been marked or are in disrepair. The sites can be grave sites or other locations that merit our honor and remembrance. There’s a pretty good chance that you’re already aware of more than one location that might be fitting. Pick a site, and If possible, take some time to learn about the life or lives that you’ll be honoring and remembering.

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Once you’ve selected a suitable site, make a small memorial for it. This doesn’t need to be anything fancy or expensive! You don’t need to break the bank to make this happen. Almost everyone has a marker in inventory that was damaged, or isn’t selling. If you don’t have anything lying around that you could use, then try contacting your suppliers. Often times they have damaged pieces that they’d be happy to get rid of. Take pictures during the process of making the memorial. Even though you’ve seen thousands of monuments being made, there’s a pretty good chance that someone in your community will be interested in how the monument came to be.

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After you’ve made and set the memorial share it with us on social media using the hashtag #EveryLifeRemembered. Hopefully you’ll learn something more about your community and have a little fun while fighting the apathy toward life that has become too prevalent.

One hundred and three years ago, a Tarrant County pioneer and Confederate veteran died in the Handley Community, in present-day eastern Fort Worth, Texas. He has lain in an unmarked grave all these years. George Lilburn Carmack was born in January 1836 in Sullivan County, Tennessee. While George was growing up, his father William Carmack was a cabinet maker in the eastern Tennessee town of Paperville, just outside the modern city of Bristol. George was the fourth of at least ten children. Worthington Monuments Inc. decided to honor this hero of a challenging conflict by providing him with a monument to properly honor his grave. We encourage other memorialists across North America to make similar investments into their communities in order to protect local heritage for veteran heroes. MBNews / January 2017 / 9


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Litho for Carmac. War Between the States Few parts of America had more divided families than Eastern Tennessee. It was sharply divided during the War Between the States…so much so that many pockets of Unionism were present throughout those years, and would probably have seceded from secession if that had been feasible. When the Civil War came, George enlisted in the Confederate Army at Zollicofer, Tennessee on October 1, 1862. He received a bounty of $50 for enlisting. He became a private in Co. B, 8th (Smith’s) Tennessee Cavalry. Most of the men in the company were from Sullivan County, and they called themselves “The McClellan Troop.” His two brothers, Gideon and James, served with him in the same company. Mr. Carmack served in a number of large battles, including Chickamauga, Georgia. This was the largest battle in the Western Theatre, the most significant Confederate victory in the West, and the battle which produced the second-highest number of casualties of any battle during the War. Only Gettysburg produced more casualties. He also fought in the battles defending Atlanta, and later served in several actions in Tennessee and the Carolinas. 10 / January 2017 / MBNews


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War Conclusion George remained faithful until the end, surrendering at Jonesboro, Alabama on May 7, 1865, four weeks after General Lee surrendered at Appomattox Court House. George signed an Oath of Allegiance to the United States in Nashville, Tennessee on May 21, and began the nearly 300-mile walk home. He was married in Washington County, Tennessee on Halloween in 1867, in the home of Rev. Campbell. He was thirty-one, and his bride Emma Stephens was thirty-five. Their marriage was somewhat unusual in that they both waited rather late to marry, and that she was fouryears his senior. But their marriage was a happy one, lasting forty-five years and producing four children. Shortly after their marriage, they moved to McMinn County, Tennessee, where in 1870 Emma admitted to the census taker she was four years younger than George. By 1880, they had moved again, this time to Monroe County, where they worked as farmers. Texas Settlement The Carmacks came to Texas in 1886 and settled there. When the 1900 census was taken, George and Emma were listed as living in Wichita County with one of their married sons, George. Beginning in 1899, Mr. Carmack was entitled to a Confederate pension from the State of Texas of $22.24 per month. But he never did ask for one, and about 1908 George and Emma moved to Tarrant County and settled in with their widowed daughter, Mattie Russell, in Handley. Upon his death in Handley on January 16, 1913, his wife also became entitled to a

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pension, but she did not file for it until 1929. By that time, the widow’s monthly pension had increased to $37.59. When she died in 1935, widows received $25.00 per month. Mrs. Carmack survived her husband twentytwo years. She died two weeks short of her 103rd birthday. She was not buried beside him in Handley Cemetery, but was buried in a new cemetery being established nearby, now known as Shannon Rose Hill. Her family marked her grave with a flat gray granite marker. Now he has a proper memorial to honor his military service as well. Memorializing past military veterans should be an honor to all of us in the profession. MB Matt Worthington is a principle in Worthington Monuments, Inc., with offices in Arlington and Burleson, Texas, as well as cemeteries in Stephenville and Grand Prairie, Texas. He serves as District 6 Trustee for MBNA, including responsibilities for MBNews. He can be reached at +1.877.556.6686 or via email at Matt@ WorthingtonTX.com. MBNews / January 2017 / 11


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By Martin Cross

Legal Risks in Translations: Hanging On Every (Foreign) Word Janel and her business partner Kevin go all in on their wearable-tech startup. They even get foreign patents translated into English to make sure there are no conflicts with their idea. Three years later, when their products are finally hitting the shelves, they receive a cease and desist letter. One of the Japanese patents that they had translated is now in force in the US with significantly different wording than their translation. In the US version of the patent, the term that their translator had rendered as “foot” is translated as “lower limb.” This would cover Janel and Kevin’s device, which senses movement in the knees. It seems minor, but the difference in wording could render their own patent application invalid, and possibly put their business on the hook for infringement. Their attorney runs the matter by two different experts, but the facts are clear. While in casual conversation, the Japanese term can often refer to just the foot, according to any dictionary, it can also refer to the entire limb. So, the Japanese patent covers their device – and years of work go down the drain. Janel and Kevin learn a hard business lesson of the globalized world: in matters of law, every word counts, even when written in another language.

Agreement Translation Similar risks arise when translating agreements, contracts, specifications, annual reports, bills of sale, and even some letters. In questions of evidence, such as for patents, it is the original document that counts, and inaccurate translations can be contested in court. In other situations, the translation itself can be paramount, even when it is wrong. If you are using a French court to enforce a contract signed in French, it doesn’t much matter what the original English version said. To avoid translation problems, it is useful to understand how they happen. In every language, individual words can have multiple meanings. Think about the possible meanings for “sentence,” or “right,” or even “impregnate.” Meanwhile, words don’t map one-toone into other languages. For example, the Chinese word for “sentence,” meaning a grammatical unit, is totally different from the Chinese word for “sentence,” meaning a punishment. To pick the right one, a translator must first understand the exact meaning of the words in the original context. Now think about how well the average person understands each and every word in a contract, let alone in a patent! MBNews / January 2017 / 13


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www.stonespot.com

888.679.9994

www.stonespot.com

888.679.9994


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Which Brings Us To Rule 1: Use a Specialist. You wouldn’t go to your dermatologist to set your broken leg, and you shouldn’t have your legal or scientific translations done by the translator who localized your website. Find a translator or translation agency that specializes in the type of document that you need translated. The next problem is caused by being human. When Gutenberg invented the printing press, the first and biggest impact was the elimination of transcription errors that, before the year 1439, had made each version of hand-copied manuscripts a little different. In the same vein, if you’ve ever played the children’s game “telephone,” you will have seen how easily humans make errors when they try to reproduce phrases faithfully. Now think about doing it between two languages! Because people also have trouble spotting their own errors, the best practice is to have one or even two additional translators review the first translator’s work. And So We Have Rule 2: Use a Team. Translation agencies have different quality assurance processes, from no-review, to spot-checking, to three-person verification. If the document could have important legal consequences, talk to your provider about their process. For critical translations, it may even pay to hire your own independent reviewer. If you are starting to wonder how much all this costs, you’re asking a good question. What Janel and Kevin really needed for their patent translation was a person who was not only fluent in Japanese and English, but who would also understand the circuit technology involved in wearable devices, and know patent law well enough to grasp that the broadest interpretation of the terms would be required in the translation. They also needed one or two more similarly qualified people to check the translation and someone to coordinate all those things. Hence, Rule 3: Beware of “Bargains.” If mistakes could hurt your business, don’t go with the place that offers to cut costs without first making sure that they won’t cut quality.

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If you will be submitting the translation to a court or government agency, you may need to have it certified. But even in cases where a certification is not required by law, requesting one puts the translation provider on notice, right from the start, that you need a true and faithful translation for legal purposes, rather than the looser, more broadly interpretive renderings that are prepared for simple information. Let’s Add Rule 4: Get it Certified. A certification is a statement of the translator’s good faith belief that the translation is true to the original, not a guarantee of accuracy, so don’t forget Rules 1 through 3. Of course, not every translation requires this level of expertise. Even a machine translation may be enough to tell you whether a foreign patent has any connection to your invention. Likewise, a bilingual administrative assistant might be able to prepare a first-draft translation of an agreement when you are still in the negotiating stage. But before you pick up your pen to sign a contract, or commit to spending the next few years working on a new product, make sure that the final translation is reliable. Be sure it was prepared by a specialist who was backed up by a team. Make certain you have good reason to be confident in the quality. And see that the translation has been certified. These simple steps can make all the difference when your success depends on every foreign word. MB Martin Cross is the president of Patent Translations Inc., serving law firms and patent departments in the US and abroad, and an active corporate member of the American Translators Association. The American Translators Association represents over 10,000 translators and interpreters across 91 countries. Along with advancing the translation and interpreting professions, ATA promotes the education and development of language services providers and consumers alike. For more information on ATA or translation and interpreting professionals, please visit www.atanet.org. MBNews / January 2017 / 15


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By Mike Windham

Year-End Insurance Review It’s the end (beginning) of the year, time again to make resolutions, work on goals, set plans in motion and commit to making the new year a more profitable year than the last. Let’s talk about your insurance for a minute or two. Most business owners cringe at the thought of reviewing their insurance programs. However, insurance is a major cost for business owners. It’s important you monitor and understand your insurance programs. Most businesses have four major concerns: Property and Casualty Insurance, Worker’s Compensation, your Business Auto Policy, and your Business Continuation policy. I spent nearly twenty years insuring commercial businesses. My clients ranged from automobile dealers to building material stores to the typical “mom and pop” operation. Most of them hated to buy insurance! More than that, they really hated to talk about what was covered, limits and exclusions.

Costs and Deductibles Here’s the first recommendation: No matter what, go out and shop your insurance every three years. Why? The market changes, prices change and, more than anything, you really want another insurance agent to review and give you a comparison of what you have and what else is available. Get another quote from a competing agent. Ask for the quote to be in writing. Tell him you want to compare what you have to what he thinks you have. Tell your current agent you 16 / January 2017 / MBNews

want him or her to shop your program. You may be pleasantly surprised. Now, let’s get a little bit more technical. Look at your deductibles. Most insurance policies have a deductible for the property coverage (your buildings and contents and your inventories) and your business auto coverage (damage to your autos). Insurance companies give discounts when the operations they insure ask for larger deductibles. You and the insurance company saves money when the insured shares more of the risk. The insurance you buy should keep any loss from really hurting your bottom line, but your deductible should sting your bottom line. After all, insurance is designed to protect you against catastrophic losses. Ask your insurance agent to quote your policy with higher deductions and compare the newer premiums with what you’ve been paying. Valuation Coverage Also, make sure you insure your property to within 80 percent of value. With inflation and the rising cost of both materials and labor, a building that cost $100,000 a few years ago, can require $150,000 or more to replace today. By insuring your building to 80 percent or more of its replacement value, you avoid a costly insurance penalty should there be a loss. Basically, a co-insurance penalty is applied for any loss when you are underinsured. If you


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insure a $200,000 building for $100,000 and it’s a total loss, the insurance company will pay you the $100,000. You bought a $100,000 policy, had a total loss and was paid $100,000. But, most claims are for partial losses and that’s when the co-insurance penalty causes problems. Again, you have a $200,000 building, you insure it for $100,000, and there is a $50,000 loss. The insurance company applies the coinsurance formula ($100,000 / $200,000 times the amount of the loss) and pays $25,000 for your $50,000 loss. It’s best to have a higher deductible and be insured to value to avoid a co-insurance penalty. Auto and Liability Coverages Your business auto coverage is the most comprehensive policy you own. It is also the most flexible. Ask your agent to provide you with coverage options: Full Coverage versus Limited Coverage for your business autos. Again, look at the deductibles. Depending on your state law, I would recommend you insist on uninsured/underinsured motorist coverage to protect you, your property and your employees if there is an accident involving an uninsured or underinsured driver. Get a copy of every worker’s driver’s license and ask your agent to check for violations. Multiple traffic violations, even minor ones can be a problem if there’s ever a business auto related accident. Always compare the autos listed on your policy to the ones owned and operated by your business. If you trade, add or remove a vehicle, notify your agent immediately. Your business liability (casualty) insurance also needs to be reviewed and updated on an annual basis. This insurance is priced on the ‘size’ of your business. Usually, liability premiums are calculated on sales revenue. Ask your agent to show you how the rate is calculated and make sure the numbers you give him are correct and reflect your business. If another agent is competing for your business, make sure your liability basis correctly reflects your exposures. The premium can be manipulated by reducing the liability basis. You

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think you’re getting the same insurance for a lower premium, but the insurance company will audit your books at the end of the year and bill you for the correct exposure rate. Workers Comp Coverage The same advice goes for your Workers Compensation premium. Workers Compensation rates are based on classes of workers and their exposures to injury and accidents. Ask about your experience modification. The basic rate starts with a zero experience modification. When you have accidents and injuries, the modification goes up. You get credit for no accidents and no injuries. And, perhaps the most important business insurance of all: Business Continuation Coverage. Get your agent to explain this in detail to you. For small operations, most Business Owners Policy (BOP) includes business continuation coverage. For larger businesses, this is a separate policy. Get your agent to explain this program to you if you don’t have one in place. Make sure you understand how it works. My recommendation: every business should have a business continuation policy in place. It will be your real lifesaver should you have a catastrophic loss. MB Mike Windham is President of Dynamic Training Solutions LLC, in Brookhaven, Mississippi He has more than twenty-five years of experience in risk management, commercial insurance and safety training. For 10 years he taught commercial insurance and agency management classes for the National Alliance for Insurance Education and Research. In addition to the teaching he’s done in the US, Mike has taught safety classes worldwide, including South Korea, South Africa, Saudi Arabia, Qatar, Nigeria and Singapore. He is OSHA Certified to teach both the 10-hour and the 30-hour OSHA Classes. He’s also a NEBOSH Internationalcertified safety professional. He can be reached at +1.601.750.6366, or email him at amwindham@aol. com. His address is 522 Natchez Ave., Brookhaven, MS 39601. MBNews / January 2017 / 17


By Joseph S. Zaidain, CPA/ABV/CFF, PFS, CVA, AIFÂŽ

Employing one of your children takes income from you and puts it in his/her income bracket, which is likely lower than yours. This income shifting idea will remain relevant as long as their tax brackets. It is important that the child perform duties commensurate with the amount of income they are being paid. 18 / January 2017 / MBNews

What interesting times we live in: a relatively new Prime Minister in Canada; a new occupant at 10 Downing St.; and, a businessman in the White House. In each case, it reflects a constituency looking for change in both the economic and social environment. This article focuses on the economic aspect, and is to make you aware of the things that you can watch for with your 2016 tax return. Plus, we will let you know what you might expect in the coming year.

US Changes

Beginning in the US, by the time you have an opportunity to read this article, many of the tax saving ideas that we could offer cannot be put into place for the current year. So, with that in mind, we’ve prepared a list of tax saving tips that can generally be put in the place each and every year. What sometimes changes are the dollar amounts and the percentage effects they have on your tax. A simple example of this is the income limitations in the tax brackets. The 15 percent tax bracket for joint filers begins at $18,550 in 2016. In 2017, the 15 percent tax bracket for joint filers begins at $18,650. A subtle change, but a change nonetheless. Some of the items may not change in substance, but could change in dollar amount and likely will remain in the tax code. They are as follows:


Employing one of your to stock that is been Investing in your business by children takes income held for longer than a purchasing equipment, real property, year. This particular tax from you and puts it in his/her income bracket, inventory, and employing more people efficient method may which is likely lower change somewhat as the will never go out of style, in that the than yours. This income President-elect’s tax team shifting idea will remain tax benefits which accrue will likely carries out his stated relevant as long as their intention to overhaul only improve. tax brackets are lower the itemized deductions than yours. It is important section of the tax code. that the child perform Investing in your duties commensurate with the amount of business by purchasing equipment, real income they are being paid. property, inventory, and employing more Always look to make your investment people will never go out of style, in that the tax portfolio tax efficient. This means that if you benefits which accrue will likely only improve. have losses in your portfolio that will offset There are few due dates that your business capital gains, you will want to review the needs to be aware of, which have been holdings to see if it makes sense to sell them to changed. Your forms W-2 and 1099 – MISC offset the gains. There will likely still be longthat are required to be filed with the IRS, term and short-term gains and losses so be sure and the Social Security Administration has to sell the class of stock that affects the best changed from a final date of March 31, if filed tax result. electronically, to January 31. The penalties Currently, if you’re age 70 and one half, you for not meeting the January 31 deadline are can make charitable donations directly from significant. At $50 per W-2 or 1099 –MISC, your IRA of up to $100,000. One of the current it could be up to a maximum of $186,000 for ideas being floated as a tax change in 2017 small businesses. A small business is defined as is to minimize or do away with some or all of a business that averaged less than $5 million in the itemized deductions. By making a qualified sales a year for the last three tax years. charitable distribution from your IRA, you would benefit by reducing your income by an amount Partnership Returns which could equal or exceed your required Form 1065 is now due on March 15 rather than minimum distribution, while not having to deal April 15. In prior years, the partnership return with any changes in the itemized deduction could be extended for five months with a final rules. due date of September 15. There will be some sort of IRAs, tax free Interestingly, the extension due date is now accounts, pension accounts, etc. Make the six months, so that the final due date is still maximum contribution that you are able. September 15. The penalty for late filing is Charitable $195 per partner, per month, contributions of up to a maximum of $2,340 per appreciated stock allow partner. you to take a charitable Corporate Tax Returns deduction of the full Corporate Tax Return value of the stock while form 1120 has had the avoiding paying the tax filing date moved back to on the appreciation. The April 15, with a five-month current regulations apply extension to a final due date of MBNews / January 2017 / 19


While simplifying and changing the tax laws, with the goal of reducing taxes and getting more money to flow into the economy, it still begs one question. What cuts are to be made in government spending in order to assure a vibrant and strong US economy? September 15. Under a special transition rule, fiscal corporations with the due date of June 30 will not be subject to the new change until tax years beginning after 2025.

What to Look For in 2017

We knew that, regardless of who won the Presidential election, there would be tax reform. It was simply a question of which direction it would go in‌more taxes or less. Now that we have our answer, we can offer some insight as to what might be changing. It begins with a lowering of tax rates, increasing the standard deduction, and simplifying the tax brackets by going from seven tax brackets to perhaps as few as three.

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Elimination of the AMT, the net investment income tax (3.8 percent), is expected. The estate tax, under a couple of different scenarios, will likely be on the agenda. The three ways that are probably going to be considered are: a.) No estate tax, and additionally no step up in basis of the estate’s assets. b.) No estate tax, and a step-up in basis. c.) No estate tax, but a payment of the capital gains tax for the step-up in basis, similar to the Canadian method. Some of the additional business tax changes that the President-elect proposed in his campaign and that we may see are: a.) Expensing new business investment immediately, instead of depreciating the investment. b.) Lowering the corporate tax to 15 percent. c.) Along with eliminating the net investment income tax, he has recommended replacing Obamacare with a different system d.) Perhaps most importantly, a small tax, perhaps as small as 10 percent, could be placed on all of those corporate earnings that are currently being held overseas. This


would affect all of us, bringing cash into our economy and onto Main Street. While simplifying and changing the tax laws, with the goal of reducing taxes and getting more money to flow into the economy, it still begs one question. What cuts are to be made in government spending in order to assure a vibrant and strong US economy?

Canadian Changes

The Canadian financial and tax system is similar to the US in the sense that it is extensive and ever-changing. Along with the Federal system, one must take into consideration the provinces and territories, for their tax rates are included in many of the Federal mandates.

The Canadian financial and tax system is similar to the US in the sense that it is extensive and ever-changing. Along with the Federal system, one must take into consideration the provinces and territories, for their tax rates are included in many of the Federal mandates. The Prime Minister got into the act quickly by reducing the rate for the middle income bracket from 22 percent to 20.5 percent. He also announced a four percentage point increase in the tax rate on high-income earners. Some of the other changes made include the creation of the Canada Child Benefit, which is based upon income and provides taxfree benefits. This measure replaced similar previous measures, but provided for retroactive payments due under those measures. The Family Tax Cut was eliminated. Some children’s tax credits were reduced, along with education and textbook tax credits being canceled. On the business front there are a number of changes that of been proposed relative to the Small Business Deduction. In essence, any income received by a related party would negatively affect the Small Business Deduction. What qualifies as a related party has not been strictly defined by the CRA. As of the

time of this writing, that measure had not been voted on. The corporate tax rate for PSBs was increased from 28 percent to 33 percent. There are many other measures that change year-to-year due to inflation indexing, subtle changes in basic laws, and response to both economic and environmental influences. To best help you navigate the ever changing landscape of your taxes, your best source of information and assistance is your tax advisor. MB Joseph S. Zaidain, CPA/ABV/CFF, PFS, CVA,AIF is a partner with Mahle, Wack Zaidain & Co. PLL in Miamisburg, Ohio. A graduate of the University of Dayton with a Bachelors and a Masters degree in Accounting and Business, he has accumulated over thirty years of experience that includes employment in the industry as an accounting manager, a controller, and a chief financial officer, as well as in public accounting. Joe’s specialties include personal and estate tax preparation and planning, personal financial planning, business valuations, and general management consulting.  He has experience with wholesale, retail, restaurants, non-profits and service organizations.  Joe is a member of The American Institute of Certified Public Accountants (AICPA), The Ohio Society of Certified Public Accountants, and serves several church, school, and athletic organizations.  Joe is accredited by the AICPA in Business Valuations (ABV), Forensics (CFF) and Personal Financial Planning (PFS). For additional information, visit his company’s website at www.mwz-cpa.com, or contact him at +1.937.866.2533 or at joez@mwz-cpa.com. MBNews / January 2017 / 21


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Granite City Tool Company of Vermont

“EVERYTHING FOR THE STONE TRADE” 

11 Blackwell Street

granitecitytoolco@myfairpoint.net

Barre, Vermont 05641

www.granitecitytoolvt.com

1-800-451-4570

Fax 1-802-476-8403

Granite City Tool Company of Vermont will be displaying on February 10-12 in Indianapolis, Indiana at booth 606. Stop by and say hi and find out about the many products we stock. Just to name a few:

Anchor® Stencil Products

3M™ Sandblast Stencil Products

Stencil Filler Remover

Call for availability

—Special Pricing—

Remove stencil filler with this Highly Concentrated Citrus Solvent. Eliminates the need to use Naphtha & Mineral Spirits Products Manufactured by Granite City Tool Company of Vermont

50 gram

Nylon Slings

200gram 400gram

Nylon Slings are available as 1”, 2”, and 4” wide and available in most hanging lengths. Please call about custom produced slings

4lb Kit

GCT STONE EPOXY

Developed specifically for the stone industry to bond granite and marble. Call for available color

NU Stone

Environmentally Safe and easy to use pre-mixed cleaner NOT TO BE USED ON COLORED MARBLE, BLACK GRANITE, OR INSIDE USE

NORTON STONEBLAST Our premium blasting abrasive. Long lasting grain in a mixed 36/60 grit. Call about Straight grit

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ZIRCO BLAST Zirco Blast (Zirconia Alumnia) is an economical long lasting blasting media used in sandblasting. Mixed Grit

COMING SOON ZIRCO BLEND LOW COMPETITIVE PRICING

Granite City Tool Company of Vermont

“EVERYTHING FOR THE STONE TRADE” 

22 / January 2017 / MBNews

11 Blackwell Street

granitecitytoolco@myfairpoint.net

Barre, Vermont 05641

www.granitecitytoolvt.com

1-800-451-4570

Fax 1-802-476-8403


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Ensure That You’re Understood When You Speak –

Seven Listening Styles and How to Approach Them The new manager walks into the conference room. The several staff members turn and look at each other expressing obvious shock over his youthfulness. He begins to tell the staff that he is only instituting one new change: they are going to begin online marketing using LinkedIn. He explains to the staff that they are to update their resumes, and they are to encourage their customers to provide positive feedback, commentary and peer endorsements. The small group begins to whisper among themselves. “What do you mean by peer endorsements?” ”Why are we updating our resumes?” another asks. And finally, a third simply asks, “What do you mean ’linked In?’” Those who have developed or grown up in an environment where a specific concept is the norm must remember that communication fails without a base understanding. Effective communication requires that one never assumes that the listener listens from the same mental place from which the speaker speaks.

Get Ready! There’s a series of events that takes place internally before you even utter a word. Pay attention to your internal process. What do you think about before you speak? Are you considering who you are speaking to? Do not change who you are, but allow your thought process to engage and develop. Get Set! As you prepare to communicate, educate yourself about the listener. Begin by sizing them up. Prioritize your audience and customize your message and delivery. Take a look at the individual or the audience and ask yourself if they fit into one of the several categories of listener. Then: stop, think, and formulate a message to strike the heart of the individual listener. If there is more than one person in the audience, then your message will have to be delivered to reach each person as you speak to them all. Take a look around the crowd; observe the various people and how they are acting. MBNews / January 2017 / 23


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Addressing the Listener As you consider the following list, think of people in your life. Who do you know that fits most often into one of the categories? Start communicating by thinking about how that individual is best addressed. 1. The Active Listener. This individual will listen to you and hang on your every word. They will take in your message and listen attentively. They often show signs of response—either physically or verbally—to reassure you they are listening. The active listener will also be the first person to verbally give you feedback to assure you they understand. This is the Holy Grail audience. 2. The Inactive Listener. This is the speaker’s worst nightmare. The listener truly allows the words to flow in one ear and out the other. Commonly, the inactive listener is far away in another place daydreaming or solving other

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problems. This listener is not really listening, they are not present. They may merely be waiting to speak to state their position without hearing yours. 3. The Selective Listener. As the name implies, this listener is waiting to hear what they expect to hear, or hear what they want to hear. A selective listener hears only information needed to formulate a counter argument, or may filter your words until he feels like he has achieved base comprehension to his satisfaction. 4. The Rushed Listener. Much like an inactive listener, a rushed listener will listen only as far as is needed to get the gist of what is being said. Then, they can transition comfortably into an inactive listener. 5. The Scared Listener. This is really a subcategory of the selective listener, but this listener is focused on avoiding harm. Someone who is fearful of being criticized or rejected may only hear those words and phrases they


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feel they must defend against. Thus, you will be speaking to a selective listener in self-defense mode. 6. The Thoughtful Listener. This is a person who would otherwise be an active listener, and they will give you signs of a concurrence and support, but their only goal is to please you. Accordingly, they become a selective listener who filters out those things they must do in order to make you happy. The message gets lost in their thoughtfulness. 7. The “Uneducated” Listener. This is not a listener who was uneducated in an academic sense. This is a listener who is uneducated as to the arena in which you are speaking. Go! It is time for you to deliver your message. You have considered who you are, what you have to communicate, and the type of listener or listeners who will hear you speak. It is go time. How will you keep the listener’s attention? Use all the tools at your disposal: 1. Vocal. By using tone and volume, we avoid monotony and rhythmically keep them listening. 2. Remaining Stationary vs. Moving About. In a longer presentation, controlled movement may aid in keeping attention. In short presentations, keeping focus as you stand firmly, may add to the importance of the message. 3. Demonstrative items. If you hold up a report, use slides or display the new product, it becomes eye candy to make your presentation more attractive. Everyone has had an experience where someone tries to explain a situation using the salt-and-pepper shakers as people. Using props such as these allows your audience to visualize your example. 4. Feed their heads. Use vocabulary that they can understand. Give them something their minds can digest and remember. In the boardroom, you will keep their concentration and focus by referring to income trends and future projections.

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On the sales floor, you will keep their attention by providing positive customer feedback and acknowledging the salespeople who lead the field. On the factory floor, you will build a better relationship by telling them that they have greater production and teamwork than anyone else in the business. 5. Give them something to remember. Relate what you have to say to an anchor that exists in the listeners mind. It may be a comparison to a past experience or a past success. Show them the big picture. In the boardroom, stock charts, predictions, projections and sales trend analysis may do the trick. On the production floor, a simple banner with the percentage increase in production blown up as large as possible will tell the widget assemblyman exactly what they need to remember. Create a Tapestry By weaving together all of these considerations you will create a tapestry that will cover a larger range of listeners. In the event of a one-on-one conversation, a few moments of observation will tell you who you are speaking to, and what you need to say to get them to understand. Take time to pay attention to your communication process, and then, listen to your listener before you speak. You will hear volumes that allow you to communicate much more successfully. MB Joe Curcillo, The Mindshark, is a speaker, entertainer, lawyer and communications expert. As an Adjunct Professor at Widener University School of Law, Mr. Curcillo developed a hands-on course, based on the use of storytelling as a persuasive weapon. He has been a professional entertainer helping corporations and associations improve their communication techniques since 1979. For more information on bringing Joe Curcillo in for your next event, please visit www. TheMindShark.com. MBNews / January 2017 / 25


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By Andrew A. Gonzales, Esq.

Should I Copyright My Website? The Internet makes it possible for businesses to reach millions of potential customers with a website. However, the Internet can be a source of liability for a company that is careless in publishing information. If you have a blog, write articles, or manage an online magazine, chances are you have experienced—or will have—content stolen. The stolen content can be re-posted on other blogs, article websites, and personal websites without proper attribution. Sometimes website content is copied in its entirety from your site to another website. There are also situations where your content is re-posted with proper attribution, but without your permission. The good news is that no matter how or why your content is used without your prior

If you really want to make it clear that all aspects of your site are copyrighted, you may use a notice such as: All website design, text, graphics, selection and arrangement thereof, and software, are the copyrighted works of If mistakes could hurt your business, don’t go with the place that offers to cut costs without first making sure that they won’t cut quality. 26 / January 2017 / MBNews

knowledge: there are measures you can take for such protection. There are even ways to prevent your content from being stolen in the first place.

How Do I Find Out If Content Has Been Stolen? Set alerts which make it simple to keep an eye on your website content and potential piracy. Set alerts for both your domain name and business name so anytime they show up in the search engine, you receive notification. Who Owns or Hosts the Site? Contact the offending party directly to put them on notice to immediately remove infringing content. If this request falls on deaf ears, contact the online service provider [OSP]. OSPs are often more efficient when it comes to removing potentially infringing content than web owners. The Digital Millennium Copyright Act [DMCA] is landmark legislation that updated U.S. Copyright Law to meet the demands of the digital age. You can also send a DMCA Takedown Notice to the OSP requesting that they remove or block the offending pages from the suspect website. What is a Copyright? Copyright is a form of protection given to authors of original works, including literary, dramatic, musical, artistic, and other intellectual works.


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A copyright automatically comes into existence the moment an author fixes work in a tangible form. This protection gives the owner of a copyright several exclusive rights: ● To

reproduce the work; ● To prepare derivative works (works that adapt the original work); ● To perform or display the work publicly; ● And, to distribute copies of the work to the public by sale, rent or lease. Why Should I Consider Copyright Registration? You’ve probably noticed phrases like “All Rights Reserved” or “Copyright 2016”, or perhaps the copyright symbol and a date at the bottom of a website. What does this mean? Do I need to copyright my website? Registering a copyright with the United States Copyright Office is not mandatory. Copyright protection exists without registration; however, the “work” must be registered prior to filing an infringement case in court. In addition, the copyright owner will be eligible to receive statutory and actual damages as well as legal costs and attorneys’ fees from a copyright infringer. Registration provides notice to the public that you own the work making it more difficult for someone to claim they unknowingly infringed upon your copyright. There is also added credibility registration brings to the work. Should I Register my Website? Copyright violation is illegal, but it can be difficult to prosecute offenders without copyright registration establishing a public record of ownership. If the content of your website is original(not a template), or if it includes an original work, it can be protected. Website registration will generally be made to protect the textual, graphic and audio content of a site. All of these components should be submitted to obtain the broadest scope of legal protection.

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The good news is that no matter how or why your content is used without your prior knowledge: there are measures you can take for such protection. Putting the Public on Notice If a website contains copyrightable materials, a copyright notice should, at the very least, be placed on the site’s home page. Although not required by law, it is not a bad idea to place notice on every page of the website. The circle © puts the world on notice that you claim a copyright in the work. The proper way to use the © is in connection with the year of first publication and the copyright owner’s name (i.e.© 2016 Jane Doe or Copyright 2016 Jane Doe). If you really want to make it clear that all aspects of your site are copyrighted, you may use a notice such as: All website design, text, graphics, selection and arrangement thereof, and software, are the copyrighted works of If mistakes could hurt your business, don’t go with the place that offers to cut costs without first making sure that they won’t cut quality. Content theft on the Internet will always be a problem. Bear in mind that U.S. Copyright laws, cease and desist letters, careful monitoring, and all other actions can only get you so far. There is no 100% foolproof way to stop such action, but legal intervention may be warranted. MB Andrew A. Gonzalez, Esq. is an experienced attorney with over twenty-five years in practice. He focuses his attention on business and intellectual property matters. He provides sophisticated services to commercial and individual clients who need to effectively compete in a business environment. For more information, please call +1.914.220.5474 or visit www.golawny.com. MBNews / January 2017 / 27


BUSINESS I

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By Jill Johnson

Using a B.O.L.D. Approach to Succeed in an Unpredictable Business World International pop singer Madonna had a major hit song in the 1980’s titled “Material Girl” with catchy lyrics saying, “We are living in a material world.” Fast forward to today, and we are now living in a world that’s highly unpredictable. Our economic, political, and social environment is exceptionally volatile, uncertain, complex, and ambiguous. It has become increasingly difficult to develop strategies for success when every time you turn around there is another challenge that threatens your enterprise survival. One of the most effective methods you can employ to navigate in this unstable business climate is to take a B.O.L.D. Approach. This four-point framework will focus your strategic mindset on gaining the insight and critical skills you need to thrive. Business Strategy – Grow your organization with purpose and prosperity. Rethink your approach to planning. Stop engaging in strategic planning focused on fun, bonding events where you vision-quest about idealistic wishes for your future, resulting in ineffective plans and written reports that collect dust. Focus instead on grounding your planning efforts by gaining the information and insight you need to develop effective business strategies. Leverage the emerging opportunities available to you and minimize the risks that an 28 / January 2017 / MBNews

uncertain business landscape creates for your enterprise. Those who thrive in an unstable environment focus on understanding the potential future of evolving trends. So what do you do now? Let go of old ideas. Coalesce your business strategies around innovation and adaption. Build your sustainable success on a viable future that is grounded in a full understanding of your situation, not on wishful thinking. Manage your transitions effectively by hiring more sophisticated talent to match your evolving needs. Consider how you can leverage new opportunities to enhance your operation and profitability. Opportunities - Uncover the potential in your market to achieve sales results. Effective strategic planning in turbulent times requires a deep assessment of your market opportunities. This environment is driven by significant market forces influencing your enterprise success and long-term potential. These market forces impact your business lifecycle and the on-going value of your product or service offerings to your consumers. You must fully understand the impact of the market forces determining your ability to survive and thrive. Staying close to your target market is crucial to your long-term success. But market needs, wants and desires change over time. You must understand how your market is changing and


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why. To remain feasible, you need to determine what you need to change to meet those evolving market needs. There are nine key market forces impacting most businesses today: shifting demographics, competitive actions, fluid economic conditions, unstable capital markets, governmental interference impacting regulations and reimbursement, technology evolution, workforce skills and capabilities, industry changes as organizations adapt to these forces, and generational shifts. You have no control over these market forces. Yet, you continually have to adapt and adjust your strategies to respond to them. Leadership - Lead with confidence and effectiveness. It takes many, many hours to master a skill or hone your expertise. Don’t expect to be an effective leader in the beginning. It takes time. Building your insight to effectively navigate stormy strategic waters will take time too. Asking the right questions is the foundation of an effective strategic mindset. Yet learning to ask the right questions is extremely difficult because most people only ask superficial questions that have easy answers. Asking challenging questions allows you to deepen your understanding of the impact of each market force and their influence on your long-term potential for success. Effective leaders in turbulent times are not afraid to listen to divergent perspectives. They understand that their ability to take corrective action before things go completely haywire requires candor from their teams and a full understanding of the market forces. Confident leaders use objective advisors to get to the truth and to push their teams. Look for real expertise that has proven results. Stay away from advisors offering strong sales hype and marketing sizzle. They can do lasting damage to your enterprise. Decision Making - Gain the clarity you need to thrive. Effective decision making in an uncertain and unstable world begins with a desire for clarity. Gaining clarity requires a complete and candid understanding of your situation. Truth gives you information.

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Well-researched information gives you insight. Insight gives you the clarity you need to set the right priorities and focus your team on the most critical activities impacting your success. Make sure you are not operating under a false set of assumptions that were correct at one time, but have not been updated to reflect your current situation. If your assumptions are wrong, your ability to make good decisions will be severely limited by your skewed viewpoint. It is critical that you reassess your assumptions about the future. Getting the right information for effective decision-making is essential. Look for more than superficial answers to the critical issues you face. Be willing to invest the time and money to bring in a fresh and different point of view to discover the truth. The Value of Taking a BOLD Approach? By taking a B.O.L.D. Approach, you will integrate an action plan for uncertainty into every facet of your strategic mindset. By asking challenging questions to understand your current and evolving situation, you will build your confidence that you are developing the business strategies to enhance your success. You will uncover the potential in your markets. You will be a more confident and effective leader. You will make better decisions. As a result, others will be more confident in following your lead. If you demand more of yourself and your team, they too will think more strategically, become more effective leaders, make better decisions and achieve results designed to create lasting success for your enterprise. So take action now. What is the first B.O.L.D. Approach step you will take to address the impact of uncertainty and volatility in your enterprise? MB Jill Johnson is the President and Founder of Johnson Consulting services, a highly accomplished speaker, and an award-winning management consultant. Jill helps her clients make critical business decisions and develop marketbased strategic plans for turnarounds or growth. Her consulting work has impacted nearly $4 billion worth of decisions. She has a proven track record of dealing with complex business issues and getting results. For more information on Jill Johnson, please visit www. jcs-usa.com. MBNews / January 2017 / 29


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By James Lange, CPA/Attorney

New Rules Will Increase Tax Burden on Inherited Retirement Plans

Sally, a successful At age 70.5, you Unfortunately, since 2012, Congress has small business owner, must begin taking attempted to pass legislation that changes knows how to stretch MRDs and pay taxes a dollar. Her clients the IRA distribution rules. And when they on the amount that and four employees you withdraw. If succeed in getting their way, your children value her financial you leave your IRA and grandchildren will pay the price. acumen, and she directly to your brings the same keen spouse, he/she can discretion to her personal finances. continue to defer income taxes as well. Thirty years ago, Sally inherited what A non-spouse beneficiary must pay taxes was left in her father’s IRA and by limiting on distributions, but by taking only minimum her withdrawals to the minimum required required distributions your heirs can stretch distributions (MRD), she has been “stretching” your IRA for a long time—the difference his legacy ever since. It’s nice to have a could mean hundreds of thousands, or even cushion for unexpected expenses. millions of dollars to them over the course of She wants to give her son, a budding their lifetimes. entrepreneur, the same advantages. But Unfortunately, since 2012, Congress has Congress is threatening to curtail the stretch attempted to pass legislation that changes to five years—a move that will deliver a the IRA distribution rules. And when they massive tax blow to inherited IRA owners, succeed in getting their way, your children and a tax bonanza for the government. and grandchildren will pay the price. Protecting Your Legacy How would you protect your legacy? First, the basic tax rules pertaining to retirement plans and IRAs: You are not required to pay taxes on the earnings until you withdraw money from the account. The ability to defer taxes is a powerful wealth-building tool. 30 / January 2017 / MBNews

Good News The good news is that there are workarounds for the strict rules that will go into effect once the legislation does pass. Consider Roth IRA conversions and avoid massive and accelerated taxation on inherited IRAs by reducing the amount of assets held in traditional IRAs altogether.


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Roth IRAs grow and taxation on the IRA. A survivorship life insurance policy is are distributed taxThis type of policy another way to make up for the accelerated free. is taken out on two Parents who people (usually a taxation on the IRA. This type of policy is convert their IRAs taken out on two people (usually a married married couple) and into Roth IRAs limit provides benefits to couple) and provides benefits to their heirs the amount of taxable their heirs after the funds that are passed second spouse dies. after the second spouse dies. on to their children. In many instances, A child who inherits it makes sense to a $1 million Roth will still have to take MRDs pay for the insurance by withdrawing money and if the law passes, liquidate the Roth from the IRA. This decreases its value, which within five years of the death of their parent. reduces both estate and income tax liabilities. However, the taxes are already paid on the And the death benefit of the life insurance Roth, so there will be no income tax bill to is paid to your beneficiaries tax-free! This contend with. strategy works well even if the proposed law You can set up a Charitable Remainder doesn’t pass and can be worth millions of Unitrust (or CRUT) and name it as the extra dollars to the children if the proposed beneficiary (if you are single) or contingent law does pass. beneficiary (if you are married) of your IRA. When you die, all of the money goes in to the Seek Consultation trust, and is not taxed until it is withdrawn. For many people, their IRAs or retirement You can designate an income beneficiary, assets make up the bulk of their wealth. It generally your child or children, who would really doesn’t seem fair to force accelerated get an income of at least five percent from the tax payments on your heirs, and significantly trust for the rest their lives. The distributions reduce the size of their inheritance over the are taxable, but will be spread out over a long term. greater length of time than five years. But if you are not paying attention, your Depending on your child’s tax bracket, heirs could end up paying taxes early. Life the distributions are often taxed at a lower insurance, Roth IRAs, and CRUTS, or preferably rate than if the entire IRA had to be taxed some combination of them, can significantly over five years. When your child dies, or the add to your legacy. trust is terminated, the remaining assets are Take a lesson from Sally and consult with distributed to charity. your financial advisor. Review your options There are no taxes on your IRA at the time and take steps to protect the next generation. of your death, because the ultimate beneficiary MB is a charity. And your estate can take a tax deduction in the year that your IRA is James Lange is a CPA/Attorney transferred to the trust! whose specialty is Estate Planning In many scenarios, if the child lives beyond for clients with significant IRAs and age 72, he will be better off than if you had retirement plans. He is the bestleft him the money outright. One caveat, this selling author of Retire Secure! and strategy should not be implemented until the recently published The Little Black new law passes. Book of Social Security Secrets. You can sign A survivorship life insurance policy is up for Jim’s books for free at: www.paytaxeslater. another way to make up for the accelerated com. MBNews / January 2017 / 31


I N D U S T R Y FEBRUARY 2017 3-5 New England Monument Dealers Association Convention Sturbridge, MA Contact: Philip Costanzo | +1.860.886.6200 10-12 Monument Builders of North America Industry Show Indianapolis Convention Center & Westin Indianapolis Indianapolis, IN Contact: MBNA Staff +1.800.233.4472 info@monumentbuilders.org www.monumentbuilders. org/2017show

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APRIL 2017 5-8 International Cemetery, Cremation & Funeral Association Annual Convention & Exposition Music City Center & Renaissance Nashville & Omni Nashville, TN Contact: ICCFA Staff www.iccfa.com JUNE 2017 22-24 Southern Monument Builders Association Annual Convention Hilton Dallas/ Rockwall Lake Front Rockwall, Texas Contact: Sammie Peters | +1.817.332.2689 monumentbuilders@earthlink.net

JULY 2017 20-22 Mid America Monument Builders Association Annual Convention Downstream Casio Resort Quapaw, OK Contact: Ruth Bell, CM | +1.785.738.2257 bellmemorials@nckcn.com SEPTEMBER 2017 19-22 Catholic Cemetery Conference 67th Annual Convention & Exposition Summerlin, NV For more information, please visit www. catholiccemeteryconference.org


N E W RETAILER MEMBERS Buckeye Monument Co. Contact: Greg Klaiber 2409 South 3rd Street Ironton, OH 45638 PH: +1.740.532.6612 FX: +1.740.532.2406 Email: gregklaiber@att.net Hallman Memorials, Inc. Contact: Henry K. Hallman 336 East South Commerce Wills Point, TX 75169 PH: +1.903.873.2102 FX: +1.903.873.4232 Email: henryhallman1953@gmail.com Web: www.hallmanmemorials.net North Point Monuments Contact: Sara L. Peacock, VP Operations 7A - 54220 Range Road 250 Sturgeon County, AB T8T 0B4 Canada PH: +1.780.913.1555 Email: sara@northpointmonuments.com Web: www.northpointmonuments.com Riverview Monument Co. Contact: Maggie SchildmeyerMischenko, VP Operations 129 North Riverside Drive Loveland, OH 45410 PH: +1.513.683.2430 FX: +1.513.683.9632 Email: mmischenko@ tuffsschildmeyer.com Web: www.monumentscincinnati.com ASSOCIATE MEMBERS Missoula City Cemetery Contact: Ron Reagan 2000 Cemetery Road Missoula, MT 59802 PH: +1.406.552.6070 FX: +1.406.327.2173 Email: cemetery@ci.missoula.mt.us Web: www.ci.missoula.mt.us/ cemetery

M E M B E R S Pete Macfarlane Architect + Stonemason Memorials Contact: Pete Macfarlane, PHD, Director 9 Shaftesbury Street, Tarragindi Brisbane, QLD 4121 Australia PH: 412235761 FX: 412235761 Email: artattheend@optusnet.com.au Web: www.artattheend.com.au BRANCH MEMBERS Ashland Monument Company Contact: Greg Klaiber, President/ Owner 3105 Greenup Avenue Ashland, KY 41101 PH: +1.606.324.7070 FX: +1.606.324.7070 Email: ashlandmonument@ windstream.net Summit Memorials – Calgary Contact: Travis Johnson #21, 11651 40 Street SE Calgary, AB T2Z 4M8 PH: +1.587.296.8206 FX: +1.587.296.8201 Email: travis@summit-memorials.com Web: www.summit-memorials.com Summit Memorials – Saskatoon Contact: Brad Marshall #10, 3919 Brodsky Ave Saskatoon, SK S7P 0C9 PH: +1.306.244.4700 FX: +1.306.244.4702 Email: brad.m@summit-memorials.com Web: www.summit-memorials.com SUPPLIER/BRONZE MEMBERS Bluehill Memorial LLC Contact: Premlatha NatarajGoundar, Owner 18907 Howe Street Omaha, NE 68130 PH: +1.402.651.9285 Email: premlathan@gmail.com Web: www.bluehillmemorial.com Celestial Granite & Marble LLC Contact: Jing Zhao, Owner 120 B Seaboard Street

Elberton, GA 30635 PH: +1.626.560.3440 Email: sales@celestialgranite.com Web: www.celestialgranite.com Ceramic Digical Contact: Bagher (Bob) Azadi, Owner 1145 Del Norte Street Houston, TX 77018 PH: +1.713.956.1477 Email: info@ceramicdigical.com Web: www.ceramicdigical.com MB ProBuild Contact: Jonathan Modlich, Owner 301 N. Hague Avenue Columbus, OH 43204 PH: +1.614.276.1439 FX: +1.614.279.4594 TF: +1.800.252.1439 Email: jonathan@mbprobuild.com Web: www.mbprobuild.com PalFleet Truck Equipment Contact: Lindsay Sooy, Internal Sales Development & Management Support 4151 W SR 18 Tiffin, OH 44883 PH: +1.419.448.8156 FX: +1.419.937.2312 Email: l.sooy@palfleet.com Web: www.palfleet.com Roberts Consulting Services, LLC Contact: Sandra Roberts, President/ Owner 117 Sterling Drive Georgetown, KY 40324 PH: +1.502.570.9846 TF: +1.866.836.8819 Email: reposememorialmanager@ gmail.com U-Blast Stencil Ltd. Contact: Michael Wang, Owner 1493 Crosstie Drive Elberton, GA 30635 PH: +1.706.283.2289 FX: +1.706.283.2290 TF: +1.855.590.7070 Email: mikew@ublaststencil.com Web: www.ublaststencil.com MBNews / January 2017 / 33


CLASSIFIED ADVERTISING Stencil Cutters for Sale GERBER cutters have been an industry favorite for 30-years. Hyatt’s currently has available a trade-in GERBER GS750 Plus monument cutter in good condition. Unit available $3,995.00 with free shipping. Hyatt’s also has refurbished Allen Datagraph 536GTS monument cutters from time to time. Call for availability. Hyatt’s offers refurbished drums for the GERBER HS750, GS750, GS750 Plus, and M Series GERBER Cutters for $995.00 on a core exchange basis. For further info or pictures call John at +1.800.234.9288 x 616 or go to www.hyatts.com. MBNA Disclaimer MBNews, monumentbuilders.org and any other active domains are owned and published by Monument Builders of North America (MBNA). No person, organization or party can copy or re-produce the content on this site(s) and/or magazine or any part of these publications without a written consent from the MBNA Editorial Advisory Board and/or the author of the content, as applicable. The publisher, Monument Builders of North America, authors and contributors reserve their rights with regards to copyright of their work. The copyright includes (and not limited to) • The content syndication from the feeds of these publications •

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Used Equipment for Sale Davey 265 CFM air compressor-60 HP240 Volt-three phase-6395 hours-8 years old; Gerber GS750 plotter 30”; ABC automatic blaster model “E” with 7’6” x 7’6” Ruemelin curtain; 1250 CFM cartridge dust collector-99.7% efficient-3 years old; 2001 Ford F-750 footing /installation truck, 30000 GVW, 6500# knuckelboom crane, 125 gallon water tank, drum concrete mixer; 2001 UD Truck 23000 GVW, 5000# knuckelboom crane; Call Phil at +1.618.972.3324

Monument Business for Sale Three generation, family-owned & operated business established in 1922, located in Central PA. Building, property, equipment, and generous outdoor display. Monument related equipment as follows – Gerber Scientific software, GS750 Plus plotter, F550 flatbed Truck with 6006H Autocrane, 2007 Quincy Compressor, and more. Walk-in and repeat clientele. Training available. $200,000. CONTACT MBNA at +1.800.233.4472 or info@ monumentbuilders.org if you are interested.

Index to Advertisers AFLAC.......................................................................... 6 Dakota Granite........................................................... 4 Granite City Tool .....................................................12 Granite City Tool of Vermont..................................22 Hyatt’s..........................................................................7 MBNA Convention .................................... Back Cover MBNA Member Drive..............................................24 Miles Supply Company............................................10 Paradise Pictures, LLC.................. Inside Front Cover Precious Souvenir...........................Inside Back Cover StoneSpot.................................................................14 Strassacker...............................................................32 U.S. Metalcraft, Inc. .................................................. 8


MBNews / January 2017 / 35


MBNA|136 South Keowee Street|Dayton, OH 45402-2241

36 / January 2017 / MBNews

MBNews January 2017  
MBNews January 2017  
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