February 2016 Business newsletter

Business Briefs

February 2016


2016 Qualified Plan Contribution/Benefit Limitations:

Type of PlanMaximum Deductible 2016 Contributions/Benefits
(only the first $265,000 of compensation can be used in applying these limits)
Money Purchase Pension PlanAnnual additions cannot exceed the lesser of 100% of the participant’s compensation or $53,000.
Profit-Sharing PlanAnnual additions to individual plan participants cannot exceed the lesser of 100% of the participant’s compensation or $53,000.
401(k) PlanEmployer contributions: Up to 15% of covered payroll. Elective employee deferrals: $18,000 ($24,000 if age 50 or older)
Allocation limits: Total of employer contributions and elective employee deferrals cannot exceed the lesser of 100% of a participant’s compensation or $53,000.
Simplified Employee Pension (SEP) PlanAnnual additions cannot exceed the lesser of 25% of the participant’s compensation or $53,000.
SIMPLE Plan (401(k) or IRA)Maximum annual salary reduction deferral: $12,500 ($15,500 if age 50 or older)
Target Benefit Pension PlanAnnual additions cannot exceed the lesser of 100% of the participant’s compensation or $53,000.
Defined Benefit Pension PlanBenefit provided cannot exceed the lesser of 100% of the average of the participant’s highest three consecutive years of compensation or $210,000.
Tax-Sheltered AnnuityMaximum annual salary reduction: $18,000 ($24,000 if age 50 or older)
Section 457 PlanMaximum annual deferral: $18,000 ($24,000 if age 50 or older)
NOTE:Withdrawals from a qualified plan prior to age 59-1/2 may be subject to a 10% early withdrawal penalty, as well as taxation.

Are you taking full advantage of the power of tax deductions and tax-deferred accumulations in your retirement planning?

from the Masters…


by Paul J. Meyer

Are you waiting for some special deal at the end of a month…or at the end of a quarter…or at the end of some calendar date?


There is a far better way:

Accept personal responsibility for your own life…
Accept personal responsibility for your own failure…
Accept personal responsibility for your own success.

The way OUT OF THE DEPENDENCY on expecting someone else to motivate you to take action with some special deal is to really, really accept responsibility for your own daily activity in your business!

This means YOU initiating action…

It means being personally responsible for your actions each day:

Making “x” number of calls a day…do it now!
Making so many presentations a day…do it now!
Getting in on some three-way calls for recruiting each day…do it now!
Getting leads for prospects from each person you sell…do it now!
Have a goal to do some activity every day in your business.

Then the local meetings, the regional meetings, and the national meetings are not the cake itself. Rather, they become the frosting on the cake.

These events will then help you get twice as much…or five times as much…benefit if you have been responsible for doing all you could have done on a daily basis. You will have momentum going into these recruiting meetings, event weekends, training weekends…



Brought to you by:

Billy Snyder
B Snyder Insurance
343 Deer Park Lane
Lafayette, TN 37083-6206

About our firm:

B Snyder Insurance offers a full array of insurance and retirement planning using life insurance and annuities. Our goal is to understand the unique needs of each client and to work closely with our clients in developing and managing a plan to help them accomplish their financial goals. We develop plans for business owners, doctors and other professionals, homeowners and families to insure their future today and reduce their taxes for tomorrow.

from the Masters…

On Desire/ Motivation

“The best motivation is self-motivation. The guy says, ‘I wish someone would come by and turn me on.’ What if they don’t show up? You’ve got to have a better plan for your life.”

— Jim Rohn

“Desire is the starting point of all achievement, not a hope, not a wish, but a keen pulsating desire which transcends everything.”

— Napoleon Hill

“The only real limitation on your abilities is the level of your desires. If you want it badly enough, there are no limits on what you can achieve.”

— Brian Tracy

“The difference between the impossible and the possible lies in a man’s determination.”

— Tommy Lasorda

On Experience

“Life is a succession of lessons which must be lived to be understood.”

— Ralph Waldo Emerson

“Experience is an asset of which no worker can be cheated, no matter how selfish or greedy his immediate employer may be.”

— Napoleon Hill

“Take time to gather up the past so that you will be able to draw from your experiences and invest them in the future.”

— Jim Rohn

“Develop wisdom in sales by reflecting on your experience, and learning everything you can from every call.”

— Brian Tracy

The purpose of this newsletter is to provide information of general interest to our clients, potential clients and other professionals. The information provided is general in nature and should not be considered complete information on any product or concept described.

For more complete information, please contact my office at the phone number above.

Published by The Virtual Assistant; © 2016 VSA, LP

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Workplace injuries: Top 10 ways business owners can reduce them and increase the bottom line.

Business owners, help reduce workplace injuries and benefit your bottom line. Talk about injuries and review regularly to keep your team safe.

Here are the top 10 most costly U.S. workplace injuries | LifeHealthPro

Read the full article here .

workplace injury cost chart


Workplace accidents and injuries, which cost employers $62 billion in 2013, can be attributed to 10 leading causes.

It’s not just a paper cut, sometimes workplace injuries can be totally disabling. From back injuries due to heavy/improper lifting to slips and falls, the result can be life changing for the employee. The costs go far beyond the medical expenses and could threaten the very business owner and the company.

According to a recent study, the top 10 work place injuries cost over $51,000,000,000 dollars to businesses and their owners. We will never eliminate all injuries, however we can prevent some of them. Education, regular review and encouraging the team to be conscious about their surroundings will go a long way towards that prevention.

Source: Here are the top 10 most costly U.S. workplace injuries | LifeHealthPro

BBQ gift card

Shane McClanahan, Danny McCormick, and Billy Snyder

Shane McClanahan, Danny McCormick, and Billy Snyder

Here is an article from a newspaper about B Snyder Insurance giving a gift certificate to a winner at a local BBQ restaurant. We try to support our local businesses and encourage folks to enjoy the food and give them an opportunity to win a gift card. On the entry form, I have some boxes the person can check off if they are interested in learning about the services I offer. Services like life insurance, retirement planning, mortgage protection and tax free retirement. They are in no way obligated to check anything and they have the same chance of winning either way.

Most of the people we speak with are happy to know that there is someone they can talk to about their concerns and know they are working with a local businessman that understands their needs and will give them the best advice for them.

Christmas 2015

As I sit here the day after Christmas, full of food, enjoying a peaceful moment, I am thinking about how blessed we are. Yes, all of the presents under the tree are nice and much appreciated, however, the thing I am most thankful for is time. Time with my friends and family. Time to enjoy the fun and laughter and time to remember each of my clients.

I am so thankful for the trust and confidence my clients have in me, knowing that I will always put their needs and goals ahead of mine. Thankful for the outpouring of appreciation I received through cards, gifts and referrals. Each one makes me realize how fortunate I am and I don’t ever want to take them for granted.

I am equally thankful for the insurance companies that I work with. From the medicare supplements, life insurance, drug plans, annuities and retirement planning. Without solid companies that have beneficial financial products, I wouldn’t be able to address and solve the financial needs and goals of my clients.

Most people don’t realize this, but I have a team of specialist that work with me to design the best policies for each individual client. Some are long term planning specialist, some are wealth/legacy transfer professionals, some help with business insurance and tax planning, and some help my clients minimize taxes both now and in the future. These specialist may be in the background, but I would be totally ineffective without them.

Last but not least, I am truly thankful for my friends and family. Some of my friends I have only gotten to know recently through social media and some I have reconnected with after 20 – 30 years apart. Some have been with me since the beginning of time and I look forward to making new friends and memories this next year.

So, as you read this, (and I appreciate you taking the time to read it), just know that I am thankful for you and you are important to me.

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So, from the family at B Snyder Insurance, to you and yours, we say Thank You, Merry Christmas, Happy New Year and may you enjoy health and prosperity in 2016.

Happy Thanksgiving 2015


Thanksgiving table is full.

Thanksgiving is a time to reflect on all of the blessings we have received this year.

This Thanksgiving, I am thinking about my family and the new additions to it. I think about the good health that we are in and having a roof over our head, a pillow on our bed and a table with some food on it.

I have a lot to be thankful for and right now, I am thinking about my clients and customers.

Without you, I would not be able to fulfill my purpose in life: to serve with honesty, integrity, compassion and love.

So thank you for allowing me to serve you. I am truly thankful for you.


Billy and the family at B Snyder Insurance.