When you look at your quarterly statement, you may wonder to yourself “Why I am contributing Pre-tax (or Roth)?” Perhaps you set your contribution years ago and have never thought about it since. Choosing between Roth and pretax contributions can be a pivotal decision in managing your retirement savings. Both options offer unique advantages and… Continue reading Roth vs. Pre-Tax: Which is best for you?
Article Categories: Articles
What is an Annuity?
Annuities are a financial tool of varying popularity designed to help individuals plan for their future by providing a stream of income immediately (immediate annuity) or in the future (deferred annuity). The mechanics of your typical deferred annuity involve two distinct phases: the accumulation phase and the distribution phase. An immediate annuity just skips the… Continue reading What is an Annuity?
Understanding Tax Documents 1099-NEC and W-2
As the January 31st deadline approaches, it’s essential for taxpayers to understand two crucial documents they might receive: the 1099-NEC and the W-2. These forms play a vital role in tax preparation, and understanding their differences and the information they contain is key to a smooth tax filing experience. The 1099-NEC is a tax form… Continue reading Understanding Tax Documents 1099-NEC and W-2
Escape the Money Trap: Break Old Habits and Crush Post-Holiday Debt Now!
For many of us, the holiday season has drawn to a close, and if you’re now facing the aftermath of those festive purchases, this is an ideal moment to sit down with your family and evaluate your expenses. According to USA today, the average holiday shopper was expected to spend $1,652 in 2023. Let’s redirect… Continue reading Escape the Money Trap: Break Old Habits and Crush Post-Holiday Debt Now!
Tax Planning Now Available!
Taxes – the necessary evil that accompanies adulthood. As April 15 looms large on the calendar, many of us scramble to gather receipts, W-2s, and other financial documents in a frenzied attempt to satisfy Uncle Sam and most wonder if they’ve withheld enough to score themselves a refund. However, there’s a smarter way to approach… Continue reading Tax Planning Now Available!
Slaying the FAFSA Dragon!
The rollout of the FAFSA for education year 2024 – 2025 had been anything but stellar, and some have experienced some real frustration completing the process. What is going on and what do you need to know. Visit the Learning Library
Unmasking the Culprit: Is It Inflation or Are You Overspending?
As we dive into a new year, it’s the perfect time to check in on our financial situation and make sure we’re not headed down the wrong path. With inflation going through the roof, it’s easy to blame external factors for financial woes. But what if I told you that your lifestyle might be playing… Continue reading Unmasking the Culprit: Is It Inflation or Are You Overspending?
What to do if you overspent on gifts
We’ve finally reached the end of another holiday season, but you may be at the start of figuring out how to pay for all the gifts. While you may be feeling a large amount of regret, it’s important to acknowledge that you’re gone too far so that you can begin to address the problem. If… Continue reading What to do if you overspent on gifts
Qualified Charitable Distributions: Tax Avoidance (not evasion) for a Cause
‘Tis the season for giving, and Qualified Charitable Distributions (QCDs) stand out as a powerful tool, offering a dual benefit of supporting charitable causes while optimizing tax implications for individuals aged 70½ or older. Qualified Charitable Distributions an only be done from Individual Retirement Accounts (IRA) and involve directing funds directly from an IRA to… Continue reading Qualified Charitable Distributions: Tax Avoidance (not evasion) for a Cause
Tax Preparation Software
In an era where technology seems to offer solutions for everything, tax preparation software has become a popular tool for many. However, while these programs are designed for convenience and efficiency, they are not foolproof. If you choose to use tax preparation software, beware it’s still possible to get your taxes wrong. Here are a… Continue reading Tax Preparation Software
