Invest in 401k and Rebalance Your Portfolio
In light of stock market crashes of the past, there are several things we can do to protect ourselves financially in the future. We’ve discussed harvesting capital losses and avoiding wash sales, but those aren’t the only ways to keep your head above water the next...
Tax Tip: Avoiding Wash Sales
After both of the severe stock market crashes that we’ve seen this century, we’ve learned some valuable lessons about how to avoid future devastation. By making smarter choices in how we invest now, and anticipating downturns that will occur in the future, we can...
Income Tax Installment Agreements
After filing your taxes, if you’re unable to pay your tax debt immediately because it’s beyond your means, the Internal Revenue Service (IRS) gives you the ability to enroll in an installment agreement. This allows you to repay your tax debt in monthly payments to...
Tax Tip: Harvesting Capital Losses
Investors in the 2014 market are far more optimistic than five years ago, when the stock market crashed in 2009. At that time, people throughout the entire world were suffering from the loss of the falling asset values. Currently, the economy appears to be on a steady...
How to Maximize Your Business Tax Deductions
The beginning of the year is the time for business owners to double and triple check that they’ve used all of the business tax deductions that are available to them. Documentation is important for everyone, but especially so for business owners, who often authorize...
5 Money Saving Strategies for Retirement Planning
Last week, we discussed the difficult fiscal years we’ve seen recently, and how they’ve impacted financial planning across America. As the economy has struggled, many people have had to restructure their retirement plans to account for lost funds. In addition to the 5...
5 Tips for Retirement Planning
The unstable economy of the past five years has certainly done a number on many Americans’ financial planning situations. People who’ve invested in their retirement plans are in a much different fiscal position than when they started their planning, and as such many...
The New 3.8% Medicare Tax
One of the many changes that stem from the Affordable Care Act that have gone into effect this year is the 3.8% Medicare tax on net investment income. This tax will only affect people who fall into higher-income tax brackets, but if you’ve ever received a one-time,...
The Health Insurance Marketplace is a Bit like Going to the Mall
Since the launch of state health insurance exchanges on October 1, it seems that the approach to acquiring healthcare is somewhat like going to buy something at the mall; after all, the exchanges are called “marketplaces.” In this health insurance shopping mall...
10 Simple Ways to Lower Your Tax Bill
Tax season is rapidly approaching. Last minute tax tips are on everyone’s mind before April 15th. Some quick tax moves and saving on returns can make all the difference. See if you are eligible for these credits and deductions that will lower your tax bill. 10 ways to...
5 Holiday Tax Saving Tips
The holiday season is always a great time of year to be charitable, but you don’t need to send yourself to the poor house in the process. There are many ways to make the most of what you already have, and turn what you don’t need into a charitable donation. For many,...
Business Travel Expense Deductions: What Qualifies
Previously we discussed what didn't qualify as a deduction for business travel – but now we will discuss what you can use for business travel expense deductions. I bet a few will surprise you. So whether you are trying to make the most of a business trip or looking...
Business Travel Expense Deductions: What Does Not Qualify
Having travel expenses happens when you leave your general area for business. Many people end up paying at the end of this travel because they do not have a clear understanding of what is considered a business travel expense deduction. If your duties require you from...
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