Four Steps to Protect a Special-Needs Child
Raising a child is expensive, and can cost a quarter of a million dollars, not including college. For a child with special needs, that cost can more than double.1 If you’re the parent of a special-needs child, it’s vital to ensure your child will continue to be provided for after you’re gone. It can be…
Four Really Good Reasons to Invest
Forty-eight percent of Americans do not own any stocks, or stock-related investments, such as mutual funds, according to a Gallup poll.1 Individuals may cite different reasons for not investing, but with important long-term financial goals, such as retirement, in the balance, the reasons may not be good enough. Why Invest? To Make Money on Your…
Tax Rules When Selling Your Home
How the gains from the sale of a primary residence are taxed has changed in recent years. If you have recently sold your home, or are considering doing so, you may want to be aware of the current rules. Home Sale If you owned and lived in your home for two of the last five…
How to Prepare for the Probable Demise of LIBOR
The London Interbank Offered Rate (LIBOR) has served as the primary reference rate for various types of adjustable-rate financial products for decades. However, its role as the finance industry’s reference rate may soon diminish in favor of a U.S.-based alternative. What is LIBOR, and why might it disappear? The Basics Unlike fixed interest rates, adjustable…
Stay on Top of Your Business Credit Rating
These days, anyone looking to form a new business relationship — especially one that involves credit — is wise to check out the risk involved first. Various parties might be checking out your company’s credit rating to determine whether they want to do business with you. That’s why, just as with your personal credit report,…
It’s Not Too Late for Some Business Owners to Lower Their 2018 Taxes
Most businesses will owe less tax for the 2018 tax year than they would have under prior law, thanks to changes brought by the Tax Cuts and Jobs Act (TCJA). But have you done everything possible to lower your business tax bill for last year? Even though 2018 is in your review mirror, there are…
5 Last-Minute Ideas to Lower Your 2018 Taxes
It’s almost Tax Day! But don’t despair; there still may be time to make some moves that will save taxes for your 2018 tax year. Here are five tax-saving ideas to consider. 1. Choose to Deduct State and Local Sales Taxes If you live in a jurisdiction with low or no personal income tax or…
Dirty DozenTax Scams to Watch For
Every year, the Internal Revenue Service releases its list of tax scams, spotlighting the myriad ways that people try to separate you from your money.1 The 2018 “Dirty Dozen” Identity Theft Using your personal information, an identity thief can file a fraudulent tax return and claim for a refund. If you’ve been a victim of…
What Is Your Investment IQ?
Investing in the financial markets is now part of everyday life. Yet, many Americans remain in the dark about investment products and how they work. Interested in testing your knowledge? When a company goes bankrupt, who gets paid first?¹,² Preferred stockholders Bond owners Secured creditors Suppliers and contractors Which of the below is one difference…
Age 50 or Older? Consider Extra Retirement Contributions
2019 Contribution Limits Traditional and Roth IRAs $6,000 (up from $5,500 in 2018) 401(k), SARSEP, 403(b) Plan Deferrals & 457 Plan deferrals $19,000(up from $18,500 from 2018) SIMPLE deferrals $13,000 (up from $12,500 in 2018) Here’s an important reminder for those who want to max out before-tax contributions to employer-sponsored salary retirement plans, which…