Are you carrying debts that feel like a heavy backpack you can’t take off? Let’s talk about a cool trick called the Snowball Method. It’s super simple and works, especially if you’re in your 20s or 30s and trying to get your money right. Think of your debt like snowballs. Some are big; some are…
First, let’s clear up the misconception about a ROTH 401(k) Contribution. NO MATTER HOW MUCH MONEY YOU MAKE, YOU CAN CONTRIBUTE TO A ROTH 401(k) in your employer-sponsored plan (assuming they offer the choice). I get asked repeatedly why I would want to pay taxes on my 401(K) or other employer-sponsored retirement contributions now. The…
In his escapades and adventures, James Bond may have used many tricks to escape death. However, even James Bond would have needed documentation to deduct the cost of his Aston Martin. Court nixes most auto deductions: In the summary judgment issued by a Tax Court Judge, he ruled that the owner of a Long Beach, California-based `…
Lack of Commitment Is the Most Common Reason for Divorce in the USA, according to Forbes.com “Revealing Divorce Statistics In 2024”. Divorce can have a lasting impact on your finances. Don’t let “Lack of Commitment” be your reason for messing up on Valentine’s Day 2024. Super Bowl to Daytona – What a Week We kicked…
We have a “knowledge gap” between what people understand about their income tax compliance situation and what their CPA has to do with your tax compliance situation. These are things that will increase your tax return price. Understanding the K-1: “It’s Truly a Maze of Information” Partnership and S-Corporation K-1s factor into this pricing. Think…
As we grow older, the parent/child roles often reverse, and we find ourselves caring for the very parents who once cared for us. That reversal has happened to myself and my parents, specifically my Dad. This past weekend, I experienced the struggle to access and coordinate my Dad’s ongoing care through Medicare. I am sharing…