A Sub-Chapter S in New York

If you are planning to establish a legal business entity (ex: Limited Liability Company (LLC) or Corporation) or have an existing legal business entity in New York and are considering a sub-chapter S election, there are a few things you’ll want to keep in mind.

First, it’s important to understand that single-member LLCs (defaultly treated as a disregarded entity and taxed like a sole proprietorship for tax purposes), multi-member LLCs (defaultly treated as a Partnership) and Corporations making a sub-chapter S election are all considered pass-through entities for federal tax purposes. This means that the entities themselves are generally not subject to income taxes. Profit/loss from the business is passed through to the individual members (LLCs) or shareholders (S-Corps), generally reported on a Schedule K-1 for Partnerships & S Corps, and each member or shareholder reports and pays their respective share of income taxes on their respective share of profit/loss on their individual tax returns.

Eligible single-member LLCs, multi-member LLCs (Partnerships) and corporations (C-Corps) can elect to be treated as sub-chapter S for federal tax purposes in lieu of their default classification. There are various pros and cons associated with making a S election, so it is best to consult with your Accountant, CPA Firm and/or legal counsel so that you may make a well-informed decision.

At the federal level, to make a sub-chapter S election, eligible LLCs will need to file both Form 8832 – Entity Classification Election and Form 2553 – Election By A Small Business Corporation. Eligible corporations (C-Corps) will need to file Form 2553 – Election By A Small Business Corporation. When filing Form 8832, keep in mind that the election may take effect no more than 75 days prior to the date the election is filed or no later than 12 months after the election is filed. When filing Form 2553, keep in mind that the form must be filed no more than 2 months and 15 days after the beginning of the tax year for which the election shall take effect or any time during the tax year preceding the tax year for which the election shall take effect. Both forms do allow “Relief for Late Elections.” Eligibility information is available in the instructions for each form. Your Accountant or CPA Firm should be able to help prepare the necessary forms for you to sign and send to the IRS. The IRS should provide written notice as to the acceptance or rejection of the filing(s) within 60 days of receipt.

At the state level, things start to get complicated. While many states recognize the federal S election at the state level, New York State does not. By default, New York State will treat your entity as a C Corporation for tax purposes even if you have made a federal S election. In order for your entity to be recognized and taxed as a S Corporation at the state level, you must file New York State’s Form CT-6 – Election by a Federal S Corporation to be Treated As a New York S Corporation. Again, your Accountant or CPA Firm should be able to help prepare the necessary form for you to sign and send to the New York State Department of Taxation & Finance (NYS DTF). The NYS DTF should provide written notice as to the acceptance or rejection of the filing within 60 days of receipt. While filing Form CT-6 will allow your entity to be treated as a New York S Corporation for tax purposes, New York State requires most general business corporations to pay a franchise tax at the entity level under Article 9-A of New York law.

One last complication is at the city level. New York City does not recognize the federal S or New York State S elections. Therefore, S Corporations are subject to New York City’s General Corporation Tax (GCT) and will be required to pay this tax at the entity level.

If you are planning to make a S election for your business, be sure to seek and consult with professional counsel (ex: Accountant, CPA Firm) to understand the pros and cons as well as the administrative requirements and tax implications at the federal, state and local levels. As you can see in the case of New York, there are a couple of added complexities at the state and local level that you’ll want to be aware of. A good Accountant or CPA Firm should stay ahead of the game and keep you well-informed but don’t hesitate to ask your Accountant or CPA Firm directly about how the S election works within your state and local levels.

A 27-inch Mid-2011 iMac in 2019

Credit: Apple

Credit: Apple

Buying a new computer can be a major investment and more so if you need to customize the configuration to meet your specific requirements. For instance, someone who uses a computer primarily for e-mail, surfing the web and streaming content will not need all the “bells and whistles” that a graphic designer or video editor may need. That said, when budgets are tight, you’ll need to find ways to maximize the life of your computer while being able to work efficiently.

A few years ago, I had a similar situation dealing with an Apple 27-inch Mid-2011 iMac. The iMac was originally configured with a 3.4GHz Quad-Core Intel Core i7 Processor, 16GB of RAM, 1TB 7200RPM hard drive and an AMD Radeon HD 6970M graphics card with 1GB of memory. At the time, this accomplished what it was intended for. However, over time it began to run slow. Formatting the hard drive and performing a clean installation of macOS (OS X at the time) did not resolve the performance issues.

One obvious course of action would be replacing the hard drive with a solid state drive (SSD). Of course, opening an iMac and replacing a standard hard drive with a solid state drive is no easy task and having it done by an authorized Apple Service Provider wouldn’t be cheap. So, what to do?

Well, the iMac did have four USB 2.0 ports, a FireWire 800 port and two Thunderbolt ports so I was already thinking about using an external bootable drive as a workaround in lieu of replacing the internal hard drive. After doing some research, I opted to go with the Transcend 512GB Thunderbolt solid state drive. I had found several cases where this drive had been implemented and worked well as an external boot drive on an iMac. I’ll include a link to the Transcend 512GB Thunderbolt SSD at the end of this post.

I also did some additional research on the RAM limitations for the Mid-2011 iMac. While Apple’s technical specifications list a maximum of 16GB of RAM, I did check the OWC website and found that the Mid-2011 iMac did support up to 32GB of RAM. While 16GB of RAM would likely suffice, the cost of an additional 16GB of RAM wasn’t too expensive. If the external bootable SSD worked and brought new life to this Mid-2011 iMac, the additional RAM would be well worth it. I’ll include links to OWC compatible memory modules at the end of this post.

Since the original internal hard drive was recently reformatted with a clean install of OS X and all applications, it didn’t make a lot of sense to go through this exercise again unless absolutely necessary. So, the solution was to clone the internal hard drive onto the new Transcend 512GB Thunderbolt solid state drive and then boot from the new SSD. This required the use of Carbon Copy Cloner to create a bootable clone of the internal drive. Back then, there was a free version of Carbon Copy Cloner. Today, you can still get a 30-day trial before you need to pay for the software which should be fine to create a one-off bootable clone of your internal hard drive to an external SSD.

The result . . .

It all worked out well. The drive cloning worked perfectly. The iMac was able to boot from the external solid state drive and gained a huge performance boost over the standard internal hard drive. Note: I left the internal hard drive intact as a backup. The additional RAM gave it a beneficial boost to support newer memory intensive applications. There was one small issue. You could restart the iMac without an issue but if you shut down the iMac and then started it up, the iMac would defaultly boot to the internal drive instead of the external SSD as the SSD would not yet be powered up at initial startup. The way around this would be to hold down the Option key on startup to get boot options, power cycle the external SSD so that the external SSD would be an available boot device then select it as the startup disk. Of course, this would be tedious to do on a daily basis, so the simpler workaround was to restart the iMac under normal conditions and only shutdown when needed. It was a small price to pay to bring new life to the Mid-2011 iMac.

While the Mid-2011 iMac is not supported by macOS Mojave, you can still use it with macOS High Sierra. Eventually, this iMac will be retired but for now, it’s gotten a few extra years of life for a fraction of the cost of a new iMac.

LINKS:

Note: The links below include Affiliate Links. Please review the section entitled "Affiliate Links" in the Terms of Use of this website for additional information.

Transcend 512GB Thunderbolt Solid State Drive StoreJet 500 for Mac (TS512GSJM500) - https://amzn.to/2Eu6fYm

OWC 16GB (2x 8GB) 1333MHz PC3-10600 DDR3 SO-DIMM 204-Pin Memory Upgrade Kit (OWC1333DDR3S16P) - https://amzn.to/2XoGLD0

OWC 32GB (4 x 8GB) 1333MHz 204-Pin DDR3 SO-DIMM Memory Upgrade Kit (OWC1333DDR3S32S) - https://amzn.to/2ErZB4L

 

RELATED POSTS:

MacBook 13.3-inch Late 2009 Series . . . in 2018

Making The Move To Wireless Charging – Part II

Anker_PowerWave_7_5_Stand.jpg

Last year, I made the move to wireless charging with the Anker PowerWave 7.5 Pad. While the Anker PowerWave 7.5 Pad works great, I decided to step up from a wireless charging pad to a wireless charging stand. With a stand, it’s easier to use your phone, watch content, etc. all while continuing to charge your device (you don’t need to lift your phone off the stand).

I researched a few different options and ultimately set my sights on the Anker PowerWave 7.5 Stand with Quick Charge 3.0 Charger. The Anker PowerWave 7.5 Stand is very similar to the Anker PowerWave 7.5 Pad. Included in the box are the Anker PowerWave 7.5 Stand, a micro-USB to USB cable and a Quick Charge 3.0 Charger. The Anker PowerWave 7.5 Stand features a front-side LED indicator to let you know your device is charging, a case-friendly design allowing you to charge your device while in its case (most cases should be compatible), a built-in cooling fan to prevent overheating and the stand will charge your phone in both the horizontal and vertical positions.

I also like that you don’t need to find the center position on the Anker PowerWave 7.5 Stand for the phone to charge properly. With the Anker PowerWave 7.5 Pad, if your phone is off-center, it may not charge properly so you need to make sure the LED indicator is lit.

The Anker PowerWave 7.5 Stand supports 7.5W fast charging on the iPhone 8/8 Plus/X (it should also work with the latest generation of iPhones - iPhone XS/XS Max/XR) and 10W fast charging on the Samsung S7/S8/S8+/S9/S9+ and Note 8. For a complete list of supported devices, visit the Anker website. The Anker PowerWave 7.5 Stand is available in two colors: white and black. The white model retails at $49.99 and the black model retails at $55.99. I’ll include links to both models below if you’re interested.

I’ve been using the Anker PowerWave 7.5 Stand for a couple of months and it works great. And yes, I still use the Anker PowerWave 7.5 Pad which also works great.

LINKS:

Note: The links below include Affiliate Links. Please review the section entitled "Affiliate Links" in the Terms of Use of this website for additional information.

Anker PowerWave 7.5 Stand (White or Black) - https://amzn.to/2ToFB88

Anker PowerWave 7.5 Pad (White or Black) - https://amzn.to/2MGJ7IR

RELATED POSTS:

Making The Move To Wireless Charging

Planning For A Rainy Day

Have you ever wondered what would happen if you suddenly lost your job? Are you financially prepared to deal with a sudden loss of your income stream? Do you have a backup plan and reserve funds for a “rainy day” event?

Hopefully, you’ll never end up in this situation; however, life doesn’t always play out the way we hope it will and change is always constant. While there may be early warning signs or indications that something may be brewing, without a clear sense of urgency, there may be no desire to act without knowing for certain something is imminent. Sure, you can actively look for new job opportunities (and there’s nothing wrong with that) but when it comes down to timing, events don’t always play out the way we would like them to.

That said, if you haven’t already started to, it’s important to create a safety net or security blanket for yourself, and if applicable, for your family. Start setting aside reserve funds for a “rainy day.” You’ll want to have reserve funds that will cover no less than three (3) months of expenses to start, but ideally, you’ll want to grow it to cover anywhere between six (6) months to one (1) year worth of expenses.

You’ll always want to maintain a stable reserve of funds. In good times, you can tap into reserve funds to meet short-term cash needs (ex: major investments and capital improvements like replacing major appliances, home improvement, etc.) but keep in mind that you need to replenish those funds as additional funds become available. Don’t get into the habit of draining your reserve funds and only realizing there’s a problem when you have an “Oh No!” moment. There is a REAL inherent danger when using reserve funds irresponsibly. Don’t be irresponsible! Of course, you’re better equipped to assess your financial situation at any given time, so you need to make those responsible decisions when it comes down to whether you should tap into your reserve funds in various situations.

Also, be sure you are living within your means. Plan and budget for your expenses. Don’t get into the habit of spending what you don’t have or what you can’t afford simply because your credit card issuer or bank is extending a line of credit to you. A credit line is NOT free cash. If you are constantly paying the minimum balance on your credit cards or overdrawing your credit cards or bank account, you are NOT living within your means.

Make it a point to periodically review your spending habits; trim any non-essential expenses. It’s okay to splurge every now and then but don’t throw your hard-earned money down a big, black hole. You want to be responsible with your finances. If you run into a “rainy day” situation, you’ll be in a much better position if you’ve been responsibly managing and monitoring your finances.

ANYA MARINA: INDIE-PENDENT WOMAN Web Series Debuts

What happens when a recording artist gets dropped by her record label?

Find out in the brand-new web series, mockumentary and LABELED spin-off, ANYA MARINA: INDIE-PENDENT WOMAN. The web series stars singer/songwriter Anya Marina and comedian Nigel Fullerton. You’ll also see some familiar faces/characters from the LABELED web series as well as other notable guest appearances.  

The series premiere episode of ANYA MARINA: INDIE-PENDENT WOMAN is now available and streaming exclusively on The Warner Sound’s YouTube Channel. You can watch the series premiere episode here. New episodes of the web series will drop every Monday.

Be sure to check out Anya’s latest singles, “Over You” and “Dynamite,” off her forthcoming EP, Over You, now available for pre-order wherever music is sold.

ANYA MARINA: INDIE-PENDENT WOMAN comes from the creative and producing team of Bethany Watson (actor/producer/voice-over artist, co-host of An Acquired Taste Podcast) and Jon Sosis (writer/producer/director/Say It Ain’t Sosis Productions), the same team that created and produced the hilariously funny comedy web series LABELED. If you haven’t watched LABELED, check out the entire first season streaming exclusively on The Warner Sound’s YouTube Channel. Watch LABELED Season One here and stay tuned for LABELED Season 2, currently in production.

LINKS:

The Warner Sound’s YouTube Channel

ANYA MARINA: INDIE-PENDENT WOMAN Playlist on YouTube

LABELED Playlist on YouTube

Anya Marina Music & Merch Store on Bandcamp

LABELED Merch Store on TeeSpring

Netgear Releases FW 1.0.9.64_10.2.64 for R7000; Early Reviews Not Promising

Netgear recently released firmware version 1.0.9.64_10.2.64 for the Netgear R7000 AC1900 Nighthawk Smart Wi-Fi router. For those continuing to experience issues with the Netgear R7000 running firmware version 1.0.9.60_10.2.60, don’t rely on this latest update to resolve your issues. Based on some early reviews and comments from Netgear Community posts, this latest firmware release does not appear to fix or resolve the ongoing issues brought about by firmware versions 1.0.9.60 or 1.0.9.58.

According to Netgear’s firmware release notes, firmware version 1.0.9.64_10.2.64 includes the following:

New features and enhancements:

  • Improves the network device identification.

Bug Fixes:

  • Fixes the issue where the router should not remember the device name that was changed before the reset.

  • Fixes the issue where the OpenVPN client Connection Type shows as wired in the Attached Devices page but no information about the client shows in the VPN Client Devices tables.

  • Fixes the issue where the user can access the Internet Setup page via the Router/AP/Bridge/Repeating mode page.

  • Fixes the issue where some functions are grayed out if the user is using Firefox as the web browser.

  • Fixes the issue where watch devices cannot be detected and don’t display on the attached devices page.

  • Fixes the issue where some devices will display an unknown device name.

  • Fixes the issue where offline devices do not disappear.

  • Fixes the issue where the device name will show an unknown string.

Known Issues:

  • When using the Nighthawk app, the login fails when the password contains special characters.

  • The Internet will not disconnect when using a static WAN IP address and has reached the monthly traffic meter limit.

  • When disabling Circle using the Nighthawk app, the GUI still shows the Circle status as enabled.

The release notes make no mention of any fix for the dropped wireless connections or sporadic router reboots. If your Netgear R7000 router is running stable on firmware version 1.0.9.42, your safest bet is to stick with it. If you are feeling bold and want to do your own testing, you can download the latest firmware release through the R7000’s dashboard or directly from the Netgear support website.

Personally, until Netgear releases a solid piece of firmware to resolve the ongoing issues with the R7000, there’s no reason to continue putting time and effort into trial and error fixes. It’s time to move on.

If you’re interested, below are some stable routers I’ve used along with some new routers I’m looking into.

LINKS:

Note: The links below include Affiliate Links. Please review the section entitled "Affiliate Links" in the Terms of Use of this website for additional information.

Stable Netgear Routers I’ve Used

Netgear R8000 AC3200 Nighthawk AC3200 Tri-Band WiFi Router – https://amzn.to/2W6zSWv

Netgear R8300 AC5000 Nighthawk X8 Smart WiFi Router – https://amzn.to/2AXDDEC

Alternative Routers I’m Considering

Synology RT2600 AC – https://amzn.to/2W0ZDHP  

Netgear XR700 AD7200 Nighthawk Pro Gaming WiFi Router – https://amzn.to/2MnzePK

Netgear RAX80 AX6000 Nighthawk AX8 8-Stream WiFi Router – https://amzn.to/2RTqlms

AmpliFi Mesh Wi-Fi System - https://amzn.to/2SaYpup

RELATED POSTS:

Stabilizing The Netgear R7000 Router Running FW 1.0.9.60_10.2.60

Here We Go Again! Netgear FW v.1.0.9.60_10.2.60 Fixes Some Bugs; Creates New Issue on R7000

Netgear Releases FW 1.0.9.60_10.2.60 for R7000 Router; Fixes Bugs with FW v.1.0.9.58_10.2.58

Connectivity Issues After Upgrading Netgear R7000 To Firmware v.1.0.9.58_10.2.58

I Like The New MacBook Air, But . . .

Credit: Apple

Credit: Apple

The MacBook Air has become one of my all-time favorite laptops out of all the laptops I’ve seen and used over the years. When the first MacBook Air came out, I wasn’t a huge fan. While I liked the sleek design and portability, the hefty price tag which started around $1,799 made it tough to justify.

As the MacBook Air evolved and the starting price dropped, the MacBook Air truly became a major contender as a laptop offering possibly an ideal balance between portability, performance and price. In early 2014, I finally decided to upgrade from my Late 2009 13.3-inch MacBook to a Mid-2013 13.3-inch MacBook Air. The starting price was around $1,099 and I configured the MacBook Air with a 1.7GHz Dual-Core Intel Core i7 Processor Turbo Boost up to 3.3GHz, 8GB 1600MHz LPDDR3 SDRAM and 256GB PCIe-based Flash Storage. Along with AppleCare, the total price with tax came in just under $1,850. While not inexpensive, the longevity has paid for itself. I’ve had the Mid-2013 MacBook Air for almost five years. It lacks a Retina Display and isn’t as fast and powerful as the current laptops on the market, but it can run Mac OS X Mojave, it still has great battery life and holds its own weight.

Not long after the 2018 MacBook Air was released, I headed over to an Apple Store to check them out. The new MacBook Air looks incredible. The new MacBook Air retains the essence of what makes the MacBook Air one of my favorite laptops and then some including a sleeker and slimmer form factor, a reduction in weight by about a quarter pound versus the previous generation, and of course, the long-desired Retina Display. The new MacBook Air also comes in three colors: Gold, Silver and Space Gray, is configurable with up to 16GB of RAM and 1.5TB SSD storage, has improved audio, a Force Touch trackpad with 20% more surface area, USB-C Thunderbolt 3 ports and great battery life.

So, what’s not to like?

Well, for me, the main issue I have is with the processor. The new MacBook Air is only available with an Amber Lake 1.6GHz Dual-Core 8th generation Intel Core i5 Processor Turbo Boost up to 3.6GHz. Now, hold up! Both RAM and SSD storage are configurable on the new MacBook Air; however, the processor only comes with one option! Seriously!

So, what about pricing? The starting price on the new MacBook Air is $1,199 with 128GB storage or $1,399 with 256GB storage, but the previous generation had a starting price of $999. So, we’re paying more now? I get it . . . but if we do an apples-to-apples like comparison, a new MacBook Air starting at $1,399 with a 1.6GHz Dual-Core 8th generation Intel Core i5 Processor Turbo Boost up to 3.6GHz, 8GB 2133MHz LPDDR3 memory and 256GB storage with AppleCare and tax comes in under $1,800 which is $50 less than what I paid back in 2014 for my Mid-2013 MacBook Air so it’s not unreasonable.

Of course, times change and for my purposes today, I would likely opt for the MacBook Air with a 1.6GHz Dual-Core 8th generation Intel Core i5 Processor Turbo Boost up to 3.6GHz, 16GB 2133MHz LPDDR3 memory and at least 512GB storage. Along with AppleCare and tax, the total would be around $2,230. Again, not unreasonable; but, in this case I would prefer a more powerful processor than what is currently available. I’d want more bang for the buck!

Do Your Own Taxes or Seek A Professional?

As the tax season kicks off, a fundamental question comes to mind – Should you do your own taxes or seek a professional?

Well, the answer depends on a variety of factors including:

  • How comfortable you are preparing your own tax returns?

  • How familiar you are with your tax situation and history?

  • How complex your tax situation is?

Generally, if you are comfortable preparing your own tax returns, are familiar with your tax situation and you don’t have a complex tax situation (ex: you only have income from W-2 wages, interest income from interest-bearing accounts, you don’t itemize your deductions or only itemize state & local taxes & charitable contributions), you should be able to prepare your own tax returns using either an online or desktop version of tax preparation software from companies like Intuit (TurboTax), H&R Block and TaxAct, just to name a few.

These companies have been developing tax preparation software for many years and have many customers who successfully use these products to prepare and file their tax returns annually. That said, you do need to have patience, be organized and dedicate a reasonable amount of time to go through the process. While the software will walk you through the process step-by-step, you do need to understand what information the tax preparation software is asking for then input the proper and correct information for your tax returns to be accurate. Keep in mind . . . Garbage in, Garbage out!

Even though these companies work to ensure their tax preparation software is accurate and apply computations and calculations based on the applicable tax laws, having a general understanding of your tax situation and history is extremely helpful so that you can raise a red flag if you notice that the tax preparation software is showing you too high of a tax refund or too much in taxes owed. Errors can occur due to incorrect user input or a software glitch.

If you are not at all comfortable preparing your own tax returns or have a more complex tax situation, consider seeking a professional tax preparer, Accountant or CPA firm. They should have a thorough understanding of the applicable tax laws and, provided you bring them all the necessary paperwork and documentation required, they should be able to properly and correctly prepare your tax returns, as well as identify and apply all applicable and available tax deductions to get you the optimal refund or try to minimize your tax bill/taxes owed. When looking for a professional tax preparer, Accountant or CPA firm, be sure to do your research, read reviews, get recommendations and compare service fees/rates.

In the case where you run/own a business, the tax situation can get even more complicated. There are different requirements on the federal, state and local level depending on the type of legal business entity you have created (ex: LLC: Single-member LLC, Partnership, LLC taxed as a sub-chapter S, Corporation: C-Corp or S-Corp) and the state in which your entity was established.

On the business side, you’ll probably want to have a tax professional, Accountant or CPA firm that you use on an ongoing basis. Except for the single-member LLC, all other entities are required to file a business tax return (separate from the personal return) even if the entities themselves do not pay income taxes (ex: pass-through entities). You also don’t want to reinvent the wheel dealing with a different tax professional, Accountant or CPA firm every year.

On the personal side, again, it depends on your comfort level and the complexity of the situation. For an individual with a single-member LLC, MAYBE you’ll consider doing your own tax return; but generally, it’s not a bad idea to consider hiring a tax professional, Accountant or CPA firm if you run/own a business especially as a member of a LLC Partnership, LLC taxed as a sub-chapter S, or you’re a shareholder of a corporation (C-Corp or S-Corp). There are a lot of requirements (not only income tax returns) that you may or may not be aware of at the federal, state and local level (ex: estimated quarterly tax payments) so having access to a good tax professional, Accountant or CPA firm can save you major headaches down the road. Yes, a good tax professional, Accountant or CPA firm will cost a bit more, but in the end, it will be well worth it!

Stabilizing The Netgear R7000 Router Running FW 1.0.9.60_10.2.60

If you’ve been following my previous posts on the Netgear R7000 router running firmware version 1.0.9.60_10.2.60, you’ll know that I, along with many others, have experienced nothing but problems with Netgear’s latest firmware release for this router, which ironically was issued to fix another problematic firmware version (version 1.0.9.58_10.2.58) for the same router. I’ll include links to my previous posts at the end of this post if you want to check them out.

First, just to clarify, the Netgear R7000 router that I am referring to is more specifically the Netgear R7000 AC1900 Nighthawk Smart Wi-Fi Router. In my last post on this topic - Here We Go Again! Netgear FW v.1.0.9.60_10.2.60 Fixes Some Bugs; Creates New Issue on R7000, I added an update at the very end of the post which reads as follows:

UPDATE: After further testing, I did notice issues with Wi-Fi connectivity and performance after reverting to firmware version 1.0.9.42_10.2.44. Some devices had trouble reconnecting to the Wi-Fi network on both the 2.4G and 5G networks. After some attempts to resolve the issue, I decided to go back to firmware version 1.0.9.60_10.2.60. While I could try a hard reset of the router, I’m not overly confident the result would differ. If you are able to revert to firmware version 1.0.9.42_10.2.44 and get the R7000 stable, stick with it for now. If not, as in this case, go back to firmware version 1.0.9.60_10.2.60 or consider getting another router. A new router seems inevitable.

R7000_QoS_WMM.jpg

After going back to firmware version 1.0.9.60_10.2.60, following problems from reverting to firmware version 1.0.9.42_10.2.44, I did experience issues with the Wi-Fi network sporadically cutting out and/or devices losing Wi-Fi connectivity; however, I did not immediately experience further sporadic reboots of the R7000 router. I decided to check the QoS settings and disable all QoS and WMM features. In the “Advanced” tab, I went to “Setup” then “QoS Setup.” In “QoS Setup,” I first checked the “QoS” tab where “Enable QoS” was already disabled so I left it as such. I then checked the “WMM” tab and went ahead and disabled both the “Enable WMM (Wi-Fi multimedia) settings (2.4GHz b/g/n)” and “Enable WMM (Wi-Fi multimedia) settings (5GHz a/n).” After applying the changes, I did not see any improvement to the situation.

R7000_Router_Update.jpg

I then decided to reload firmware version 1.0.9.60_10.2.60 again; however, this time, I decided to download the firmware directly from the Netgear support website and manually perform the installation. Previously, I upgraded through the R7000 dashboard. I’ve upgraded many routers over the years by using both the router upgrade feature built into router dashboards and by manually downloading and installing firmware onto routers. While I’ve run into issues occasionally, for the most part, both methods have generally worked fine. In this situation, I felt a manual firmware upgrade was worth a shot. I proceeded with the manual reload of firmware version 1.0.9.60_10.2.60.

The result . . . I’ve been running the Netgear R7000 with the reloaded firmware version 1.0.9.60_10.2.60 for over a month now and I haven’t noticed any further widespread issues. I did recently have one user report connectivity issues with the 5G network, but no other users have reported or experienced the same so I’m still trying to ascertain if this is an isolated issue with this user’s devices.

Since the firmware reload, I’ve kept the QoS settings disabled and I’ve put as much load, if not more, onto the router to test and see if I could replicate the previous issues. Outside of that one user’s experience, the router appears to be stabilized for now. There’s no guarantee that it will work for you but feel free to give it a try.

In a worst-case scenario, if this doesn’t work and Netgear does not release a timely, stable firmware version to resolve these issues, the next step will be to replace the router. I’ve been looking into several options, both Netgear-branded and non-Netgear branded which I’ll include below. There are also a couple of older Netgear models that I’ve used which are still in the market and are stable running the latest Netgear firmware for those respective models. I’ll also include them below.

You may wonder why I’m keeping Netgear on the short list and it’s because I’ve used Netgear for many years and generally, they have been reliable. I’ve also used Linksys both before and after they were acquired by Cisco. Likewise, I’ve used Belkin which acquired Linksys. If you plan on making a change, do your research and go with a brand and product that you feel most comfortable with.

LATEST UPDATE: After over a month of stability, both the 2.4GHz and 5GHz wireless connections began to consistently drop. The wired connection was unaffected and there were no spontaneous reboots during this period. Rebooting the router did not help the situation. In fact, the wireless connections began dropping more frequently after the reboot. While the 2.4GHz would eventually recover, the 5GHz remained offline until the connection was reset. With no new firmware updates from Netgear, it looks like it’s time to get a new router. In the interim, I have factory reset the R7000 and reconfigured the router to see if this will help in the short-term until a new router is in place.

LINKS:

Note: The links below include Affiliate Links. Please review the section entitled "Affiliate Links" in the Terms of Use of this website for additional information.

Stable Netgear Routers I’ve Used

Netgear R8000 AC3200 Nighthawk AC3200 Tri-Band WiFi Router – https://amzn.to/2W6zSWv

Netgear R8300 AC5000 Nighthawk X8 Smart WiFi Router – https://amzn.to/2AXDDEC

Alternative Routers I’m Considering

Synology RT2600 AC – https://amzn.to/2W0ZDHP  

Netgear XR700 AD7200 Nighthawk Pro Gaming WiFi Router – https://amzn.to/2MnzePK

Netgear RAX80 AX6000 Nighthawk AX8 8-Stream WiFi Router – https://amzn.to/2RTqlms

AmpliFi Mesh Wi-Fi System - https://amzn.to/2SaYpup

RELATED POSTS:

Here We Go Again! Netgear FW v.1.0.9.60_10.2.60 Fixes Some Bugs; Creates New Issue on R7000

Netgear Releases FW 1.0.9.60_10.2.60 for R7000 Router; Fixes Bugs with FW v.1.0.9.58_10.2.58

Connectivity Issues After Upgrading Netgear R7000 To Firmware v.1.0.9.58_10.2.58

Throwback Thursday: A Road Trip Through Nevada, Utah and Arizona

On this throwback Thursday, I’m taking a trip down memory lane, looking back at a road trip that I took a few years ago through Nevada, Utah and Arizona. The trip started in Nevada where I, along with good friends, spent a few days in Las Vegas walking around the city, taking in a couple of shows (The Beatles LOVE Cirque du Soleil and Penn & Teller at the Rio Theater) and enjoying the atmosphere, food and attractions (ex: Freemont Street Experience, High Roller at the LINQ). While in Nevada, we also went to check out the Hoover Dam.

Next stop was Zion National Park in Utah which was absolutely incredible. I definitely remember how sunny and hot it was. I was looking for shade from the intense sun. Took a lot of great pictures and the scenery was unbelievable. We only spent a few hours in Zion National Park but it was amazing!

In Arizona, we made stops in Page, Sedona and Phoenix. We visited the Grand Canyon, Horseshoe Bend, the Glen Canyon Dam, the Lowell Observatory, Red Rock State Park, we took a boat tour on Lake Powell in Page, did the Pink Jeep Broken Arrow Tour in Sedona, visited McCormick-Stillman Railroad Park and the Penske Racing Museum, just to name a few. We had planned to do a hot air balloon ride too, but due to weather, the hot air balloon ride was grounded.

It was a wonderful trip and I look forward to doing it again in the future.

You can check out the highlight video of my road trip below!

Fun Fact: In my post, In A World of Loops and Smart Instruments, I mention that the track “The Journey” was inspired by a recent road trip. This is the road trip that brought about the inspiration for that track along with “Charting The Course,” “A Call To Action,” “Reflection in Time,” “Paradise,” “On The Road,” and “Onwards.” You can check out all these tracks on the Media page under Music Exploration.

Isn’t It Ironic, Don’t You Think? . . . I Mean Seriously!

I was taking a walk over the weekend when I noticed a man and a woman sitting on a stoop huddled together a few feet in front of a shop. It was a cold, partly cloudy, blustery day. Perhaps they were sitting there together waiting for someone. There were numerous shops and restaurants in the area and it was around brunch time, so it didn’t seem out of the ordinary.

As I got closer, my eyes briefly crossed paths with the gentleman’s eyes and looking into his eyes and at his facial expression, I knew there was more to the story . . . something was wrong.

After our eyes crossed paths, I looked down and noticed the two of them holding hands firmly. I looked up towards the woman and noticed she was holding a phone up to her ear. She was nodding, acknowledging the caller on the other end of the line. As I got even closer, I glanced at her face which was filled with distraught and much sadness. I could see that she was crying. The gentleman was trying to comfort her during this ordeal, whatever it was.

As I walked passed them, I couldn’t imagine what she, what they were going through. I didn’t hear anything nor was I attempting to eavesdrop as I passed by; but, I couldn’t help but feel for them during this difficult time.

As I walked into a store a short while later, there was a song playing that was unfamiliar to me, but I kept hearing the following lyrics:

“I need some good news, baby
Feels like the world's gone crazy
Give me some good news, baby
Give it to me, give it to me

I need some good news, baby
'Cause all the world's gone crazy
I need some good news, baby
Give it to me, give it to me”

The song that was playing was “Good News” by Ocean Park Standoff.

I thought to myself . . . Wow, the irony! Seriously!

Getting Ready for the Tax Season

With the holidays passed and the New Year upon us, it’s time to take some proactive steps in preparing for the upcoming tax season. That’s right! Now is a good time to start gathering and organizing all your 2018 financial/tax documents in preparation for the tax season. Don’t wait until it’s time to have your tax returns prepared to start hunting for all the crucial documents. Get a head start now by putting together a checklist of all the applicable documents you’ll need and start building a file if you haven’t already begun to do so.

Everyone has their own tax situation so first and foremost, if you have an Accountant, CPA Firm or Certified Tax Professional, get in touch with them to review 2018 and go over the documents that you’ll need to have ready to provide to them to prepare your tax returns. Due to changes in the tax law last year, you hopefully have been actively communicating with your Accountant, CPA Firm or Certified Tax Professional to discuss any applicable tax changes that could potentially affect you in the upcoming tax season. It’s also a good practice to reach out to your Accountant, CPA Firm or Certified Tax Professional in the fourth quarter of the year (if your Accountant, CPA Firm or Certified Tax Professional has not already done so), to discuss any applicable year-end tax matters and/or appropriate actions that need to be taken prior to year-end.

If you are a business owner, you’ll want to get in touch with your personal Accountant, CPA Firm or Certified Tax Professional to discuss any tax matters, issues or concerns applicable to your personal tax situation while also getting in touch with the company’s Accountant or CPA Firm to make sure the company is on the right track for year-end.

On a personal level, some of the financial/tax documents you should gather include:

  • Form W-2s from all employers that you worked for in 2018. Employers are required to furnish Form W-2s to their employees by January 31, 2019. A Form W-2 is considered “furnished” if it is postmarked by January 31, 2019. Most payroll companies also provide employee access to electronic copies of Form W-2s.

  • Form 1099-MISC from all companies/businesses for which you performed work or services as a non-employee/independent contractor in 2018. Companies/businesses must issue Form 1099-MISC if you were paid $600 or more during the year for work or services performed. Form 1099-MISC must be furnished by January 31, 2019. You are still required to report all applicable income even if you do not receive a Form 1099-MISC.

  • Form 1099-INT from all banks/financial institutions for which you earned interest income in 2018. Banks/financial institutions must issue a Form 1099-INT if you earned $10 or more in interest income during the tax year. You are still required to report all applicable interest income even if you do not receive a Form 1099-INT.

  • If you maintained health coverage through a Health Insurance Marketplace, you should receive a Form 1095-A. If you maintained health coverage through a health insurance provider or non-Applicable Large Employer (non-ALE), you should receive a Form 1095-B. If you maintained health coverage through an Applicable Large Employer (ALE), you should receive a Form 1095-C. These forms provide information regarding the health insurance coverage provided, to whom coverage was provided and when coverage was provided. Except for recipients of Form 1095-A, recipients of Form 1095-B and Form 1095-C generally do not need to wait for these forms to arrive to prepare their tax returns provided you have the information readily available including, who was covered and when, for tax preparation purposes. Keep in mind that for 2018, the Affordable Care Act’s Individual Mandate remains in full force. Individuals who fail to maintain proper health insurance coverage for all of 2018 may be subject to a penalty. You can get more information about these Health Insurance Information/Tax forms on the IRS website.

  • Form 1099-DIV from all financial institutions/brokerages for which you earned dividend income.

  • Form 1099-G if you itemized your deductions in the prior tax year and took advantage of the state/local tax deduction and received a state/local tax refund.

  • Form 1099-R if you received a distribution from a retirement plan, pension plan, profit sharing plan, etc.

  • Form 5498 if you made contributions to an Individual Retirement Account (IRA).

  • Schedule K-1 if you are a member of a multi-member LLC, LLC taxed as a sub-chapter S or a shareholder of a sub-chapter S.

  • Copies of donation confirmation/acknowledgment letters for tax-deductible donations made to qualified charitable organizations.

The list above is not intended to be a complete list of the financial/tax documents that you may need for the preparation of your tax returns nor does it necessarily reflect all the financial/tax documents that are applicable to your specific tax situation. Again, speak with your Accountant, CPA Firm or Certified Tax Professional to review the financial/tax documents that you should gather in preparation for the current tax season. If you prepare your own tax returns, look through the financial/tax documents you received last year while accounting for any applicable changes made in 2018 (ex: opening a new savings or brokerage account, working for more than one employer within the same tax year) as you put together your checklist and gather your financial/tax documents.

A little early preparation and staying proactive can go a long way in helping to make this tax season go smoother and be less stressful!

So Long, Farewell, Goodbye and Thank You 2018!

On this New Year’s Eve, we are once again on the cusp of bidding adieu to the old year and welcoming in the New Year. Not unlike its predecessors, 2018 was filled with its ups and downs, highs and lows, best and worst, good and bad, happy and sad, trials and tribulations and so much more.

For me, 2018 began like a roller coaster – a bumpy wild ride filled with uncertainty and unknowns. But, it also opened the doors and my eyes to new possibilities. It was a chance for me to explore new opportunities and find inspiration and motivation to pursue new projects that were interesting, engaging, exciting, fun and for which I was truly passionate about.

I was able to build and launch this website; something which I’ve wanted to do for quite some time. I was able to write more through my blog and share knowledge, experience, ideas, thoughts and recommendations. I was able to dedicate and devote more time towards content creation and production, working on projects that were fun and enjoyable.

As I look back and reflect on 2018, I recall the challenging times, but they didn’t dampen my spirit, my passion, my focus or my determination. They strengthened my resolve to push ahead, to push forward. I accomplished some great things in 2018 and I look forward to carrying the momentum into the New Year and accomplishing more in 2019. I hope you’ll do the same!

Happy New Year!

Welcome Back, LABELED! Season 2 Premieres

LABELED_Logo_White_on_Black.JPG

After last year’s cliffhanger season finale to close out Season 1, the hilariously funny comedy web series, LABELED, is back with Season 2! The Season 2 premiere debuted on Christmas Day.

LABELED is a comedy web series from co-creators and co-producers, Bethany Watson (actor/producer/voice-over artist, co-host of An Acquired Taste Podcast) and Jon Sosis (writer/producer/director/Say It Ain’t Sosis Productions). The series follows a group of low-level employees at a major NYC record label dealing with the high-level, big world problems at their label and in their industry.

Season 2 sees the return of the team at East Pacific Records, including Jess (Bethany Watson), Ellie (Palmyra Mattner), Diane (Kelsea Baker), Paul (Bry Poole), Kirby (Jerica Young), Stu (Robert Lee Leng), George (Jason Taylor) and more, dealing with a major shakeup at the label, new chaos and more drama. The Season 2 opener doesn’t miss a beat, so you can expect a brand-new season of hilarious hijinks that will have you laughing every episode, all season long. The LABELED Season 2 premiere also features a sneak peek into the LABELED spin-off web series, ANYA MARINA: INDIE-PENDENT WOMAN, starring Anya Marina and Nigel Fullerton, due to drop in February 2019.

I had the opportunity to watch Anya perform live last month and see a screening of the first episode of her web series. Anya is an incredibly talented singer/songwriter/musician and she is hilariously funny so stay tuned for ANYA MARINA: INDIE-PENDENT WOMAN.

One final noteworthy mention is the new LABELED Store on Teespring. If you are a fan of the web series, head over to the new store to check out the LABELED merch, show your LABELED pride and help support future production of LABELED.

Ready to watch LABELED? Check out the links below:

Watch the LABELED Season 2 Premiere

Watch LABELED Season 1 streaming exclusively on The Warner Sound’s YouTube Channel

Watch the LABELED Cutting Room Floor (Gag Reel)

Holiday Classics That Will Warm Your Heart

There are so many aspects of the holiday season that make this time of year, the most wonderful time of the year, including the holiday classics. You know, those great holiday classic movies or TV specials that you watch year after year and which never seem to get old. Those holiday classics that hold a special place in your heart and have become part of your holiday tradition, a tradition that you will pass along to future generations.

Here are five of my favorite holiday classics that I enjoy during the holiday season. Check them out and maybe consider adding them to your holiday classics collection.

Happy Holidays!

Note: The covers below include Affiliate Links. Please review the section entitled "Affiliate Links" in the Terms of Use of this website for additional information. Firefox users may need to disable Content Blocking to properly view the content on this page.

 

Making Investments in Your Business in the New Year

As we prepare to close out the year, business owners should take the time to evaluate their current business operations to determine what investments they need to make in their business heading into the New Year and begin planning & budgeting for those investments. This includes investing in staff (ex: hiring additional employees, employee training & education, health & wellness programs, incentives & retention programs), investing in technology (ex: computers, servers, software, storage, network equipment) and investing in infrastructure (ex: office/office space, furniture, fixtures) just to name a few.

While planning and budgeting for potential investments does not guarantee that business owners will be able make those investments into their business at any specific time (ex: due to financial constraints, weak business performance, unforeseen circumstances), business owners should still be proactive rather than reactive. Perhaps the investments may not occur in the first or second quarter of the year but may be possible in the third quarter.

In some situations, business owners may need to front-load the investments to achieve future business performance gains. For instance, if your business is a design firm relying heavily on up-to-date technology, but you are running outdated computers and software, you’ll need to make investments in technology to get updated computers and software NOW, so you can get the work done. If you can’t get the work done, your business will be unable to stay afloat. Likewise, business owners may need to hire an additional employee to help in critical areas to get work done and meet timetables. The successful completion of a client project can result in future projects (and additional income) but failure could mean the loss of the client (and loss of significant income). In these situations, business owners MUST make the investments immediately rather than postpone or delay them to a later date.

To help manage the business, business owners should utilize financial projections. Income projections (and if needed, cash flow projections) can be an extremely useful tool in helping to manage the business but keep in mind that projections are exactly that – A PROJECTION. The more reliable financial information that you have available, the better your projections will be; however, projections are NOT SET IN STONE!

Business owners who are unfamiliar with financial projections should work with their lead or senior Accounting/Finance person (ex: CFO, Director of Finance, Accounting Manager, Head of Accounting/Finance) to create/prepare financial projections for the business for the upcoming year. If you don’t have a lead or senior Accounting/Finance person, consult with your Accountant or CPA Firm for guidance. While preparing financial projections is not overly difficult, it does require a level of experience.

Employee Bonuses Are Taxable Income

Now that the holidays have arrived and with year-end fast approaching, as a business owner, you may be considering distributing year-end bonuses to employees as a show of appreciation for their passion and dedication to the business this past year. It’s important to remember that bonuses are treated as taxable income and should be processed and reported accordingly.

You should process your year-end bonuses through payroll and follow standard payroll practices to ensure the proper tax withholding for federal income tax, state & local income tax and FICA (Medicare & Social Security Tax). Generally, bonuses can either be run as an additional payroll outside of your normal payroll cycle or added to one of your normal year-end payrolls.

If you plan on running an additional payroll, check with your payroll company on how to submit the additional bonus payroll. Your payroll company will usually require bonus payrolls (or additional payrolls outside of your normal payroll cycle) to be submitted several days in advance of your regularly scheduled payroll. Pay close attention to the payroll submission due dates to ensure your bonus and year-end payrolls are submitted on a timely basis. Also, make sure your business bank account is adequately funded to cover your added year-end business expenditures.

If you have questions or concerns regarding the proper handling of bonus income, check with your payroll representative and/or your business tax professional (Accountant/CPA firm).

Last Minute Holiday Gifts and Stocking Stuffers

When it comes to the holiday shopping season, I like to get my Christmas shopping done early so I can avoid the last minute rush and spend time enjoying the holidays rather than stressing over them.

If you tend to procrastinate when it comes to holiday shopping or just need some last minute gift ideas, stocking stuffer suggestions or maybe even a gift to treat yourself, I’ve put together some items that may be worth consideration.

Check them out below and Happy Holidays!

Note: The items below include Affiliate Links. Please review the section entitled "Affiliate Links" in the Terms of Use of this website for additional information. Firefox users may need to disable Content Blocking to properly view the content on this page.

FOR THE CONTENT CREATORS

FOR THE TECH ENTHUSIASTS

FOR THE FUN OF IT

FOR THERE’S NO PLACE LIKE HOME

FOR THE ALWAYS ON-THE-GO

FOR THE GADGETS & THE GIZMOS

FOR THE UNDECIDED . . . LET THEM CHOOSE THEIR OWN

 

Christmas Albums To Get You Into The Holiday Spirit

The holidays are here and how better to get into the holiday spirit than with Christmas music!

Whether you’re decorating your home, putting up the tree, wrapping gifts, sharing memories and stories, spending quality time with family and friends or just taking in all the wonders this holiday season has to offer, Christmas music is the perfect companion! There’s just something about Christmas music that gets you into the joyous, festive mood and truly makes this the most wonderful time of the year!

I’ve put together some of the Christmas albums that I enjoy this time of year. Check them out below and maybe consider adding them to your Christmas collection.

Happy Holidays!

Note: The album covers below include Affiliate Links. Please review the section entitled "Affiliate Links" in the Terms of Use of this website for additional information. Firefox users may need to disable Content Blocking to properly view the content on this page.

Click on an album cover below for an album track list and further details.