Rich and Staying That Way: 5 Strategies for Keeping Your Wealth

Rich and Staying That Way: 5 Strategies for Keeping Your Wealth

Rich and Staying That Way: 5 Strategies for Keeping Your Wealth Getting rich is only half the challenge. It’s not always easy to stay rich once you’ve ‘made it.’ There are many stories of very wealthy people losing everything. These stories include wealthy celebrities, professional athletes, lottery winners, and a lot of regular people, too. Whether you’ve already made your fortune or you’re still working on it, there are 5 strategies for keeping your wealth that you can do. Protect your wealth from these five dream killers: 1. Plan for the long-term. As medical science continues to advance, lifespans are also progressing. The more time you spend in old age, the more likely you are to have significant medical expenses. Nursing homes are costly, too. Plan your finances as if you were going to live forever. read...
IRS Redesigned Website for 2018 Tax Reform

IRS Redesigned Website for 2018 Tax Reform

IRS Redesigned Website for 2018 Tax Reform To help taxpayers have a better understanding of the tax reform, the IRS has updated information on its website. The Tax Cuts and Jobs Act (TCJA) will affect individuals, businesses, tax exempt and government entities. There are now three sections for the IRS redesigned website IRS.gov/taxreform page. The three sections are individuals, businesses, and tax-exempt entities. The individuals’ page has a “Paycheck Checkup” link. The IRS is encouraging every taxpayer to check their withholdings to avoid any surprise tax bills at the end of the year. The information on tax credits discusses changes to the child tax credit, additional child tax credit, and information about the new credit for other dependents. read...
Avoid an IRS Bill with a Paycheck Checkup

Avoid an IRS Bill with a Paycheck Checkup

Avoid an IRS Bill with a Paycheck Checkup The Tax Cut and Jobs Act have increased the standard deduction and raised the tax credits for families with children. But you could find yourself owing the IRS if you do not adjust your tax withholding. To avoid any surprises at the end of the year, the IRS is encouraging every taxpayer to do some tax planning now. One way to do that is to use out free 2018 Tax Calculator on our website, which will allow you to either select a profiled scenario or create a scenario based on your unique situation to see the amount that should be withheld from your paycheck. It is even more important for you to do a paycheck checkup on your withholding using the 2018 Tax Calculator if you fall into one of these groups: • If you claim the Child Tax Credit • If you itemized deductions in 2017 • If you received a large refund or paid a large tax bill on their 2017 tax return • If you are two-income families • If you held two or more jobs during the year read...
Back to School on a Budget

Back to School on a Budget

Back to School on a Budget August is upon us once again. The collective “UGH!” is heard nationwide as families trudge toward the school supplies aisle in preparation for the upcoming academic year. Sadly, the “days-gone-by” supplies such as a box of crayons, spiral-ring notebooks and a pack of #2 pencils have evolved into a much longer list. But never fear, we’ve put together these useful tips to help you do – back to school on a budget. Recycle older children’s supplies. In our world of waste conscientiousness, why not teach children it’s perfectly acceptable to repurpose school supplies? Throw those backpacks in the washing machine. They’ll look just like new! Check with friends who have children. Before you buy that higher math calculator or the latest technological gadget required for a modern education, ask a friend with a graduating student if you can purchase their used items before you pay full price. Inquire about your community’s back-to-school relief projects. Do some research online or stop by your local Chamber of Commerce to gather information on organizations that offer school supplies aid such as Lions Club, Rotary Club, Masons, churches and other non-profits. Open a savings account. Setting aside a small amount each month will be considerably less painful than paying for everything at once. To make saving easier, restrict yourself from eating out more than a few times a month or scale back your latte purchases. You’ll be surprised at how much you can save. Research and prepare ahead of time. Set a good example for your little learners and do your homework. Compare sale ads, clip coupons or...

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