The Stimulus Package – What You Need to Know

On Friday March 27, 2020 Congress approved the $2 Trillion Stimulus Bill in response to COVID-19 to assist tens of millions of American households that are being affected by the virus. Below is a list of frequently asked questions regarding this Stimulus Bill that we have compiled: Stimulus Payments Q: How large would the payments be? A: Most adults would get $1,200, although some would get less. For every qualifying child age 16 or under, the payment would be an…
Continue reading The Stimulus Package – What You Need to Know

The SECURE Act Offers New Opportunities for Individuals and Businesses

The SECURE Act (Setting Every Community Up for Retirement Enhancement Act) is major legislation that was passed by Congress as part of a larger spending bill and signed into law by the president in December. Here are a few provisions that may affect you. Unless otherwise noted, the new rules apply to tax or plan years starting January 1, 2020. If you’re still saving for retirement To address increasing life expectancies, the new law repeals the prohibition on contributions to…
Continue reading The SECURE Act Offers New Opportunities for Individuals and Businesses

Ten Year-End Tax tips for 2019

Here are 10 things to consider as you weigh potential tax moves between now and the end of the year. 1. Set aside time to plan Effective planning requires that you have a good understanding of your current tax situation, as well as a reasonable estimate of how your circumstances might change next year. There’s a real opportunity for tax savings if you’ll be paying taxes at a lower rate in one year than in the other. However, the window…
Continue reading Ten Year-End Tax tips for 2019

Five Times in Your Life When You Might Need Help With Your Finances

As you move through different stages of life, you will face new and unique financial situations. Did you just get engaged? Perhaps you are wondering how you and your partner are going to manage your money together. Do you have children? Maybe you are looking for ways to pay for their college education. When you navigate through these various life events, you might seek professional guidance to help you make sound financial choices. 1. Getting married Getting married is an…
Continue reading Five Times in Your Life When You Might Need Help With Your Finances

Taxation of Investments

It’s nice to own stocks, bonds, and other investments. Nice, that is, until it’s time to fill out your federal income tax return. At that point, you may be left scratching your head. Just how do you report your investments and how are they taxed? Is it ordinary income or a capital gain? To determine how an investment vehicle is taxed in a given year, first ask yourself what went on with the investment that year. Did it generate interest…
Continue reading Taxation of Investments

Invest In Your Business

According to an analysis by the Economic Policy Institute the median working-age couple has only saved $5,000 for retirement, and 70% of couples have less than $50,000 saved. Considering retirement can last 30 years or more, having a solid savings plan is crucial to everyone’s well-being and long-term happiness – both yours and your employees. As a business owner you know that establishing an attractive culture is key both in recruiting new talent and keeping existing employees satisfied, and a…
Continue reading Invest In Your Business

How Will I Manage to Send My Child to College?

Being able to send your child to college is near the top of the wish list for most parents. A college education can open doors to many opportunities, and is increasingly necessary in today’s economy. But that diploma doesn’t come cheap. Unless you are very well off financially, it’s difficult to sit on the sidelines for years and then suddenly find the money to pay for college when your child is ready to go. The best thing to do is…
Continue reading How Will I Manage to Send My Child to College?

10 Things Women Need to Know About Money

Life is definitely more than just about money. There are so many things to know about money. The list is endless, but here are 10 important things you as a woman should know about money: 1. Men and Women are Different Understand that men and women are different in how we use money, how we feel about money, and how we communicate about money. In most relationships one partner will be the spender and one will be a saver. Understand…
Continue reading 10 Things Women Need to Know About Money

Closing a Retirement Income Gap

When you determine how much income you’ll need in retirement, you may base your projection on the type of lifestyle you plan to have and when you want to retire. However, as you grow closer to retirement, you may discover that your income won’t be enough to meet your needs. If you find yourself in this situation, you’ll need to adopt a plan to bridge this projected income gap. Delay retirement: 65 is just a number One way of dealing…
Continue reading Closing a Retirement Income Gap

Mutual Fund Basics

A mutual fund pools the money of many investors to purchase securities. The fund’s manager buys securities to pursue a stated investment strategy. By investing in the fund, you’ll own a piece of the total portfolio of securities, which could be anywhere from a few dozen to hundreds of stocks. This provides you with a convenient way to obtain instant diversification that would be harder to achieve on your own. Types of mutual funds There are many mutual funds to…
Continue reading Mutual Fund Basics