A Plan for a Better IRS Experience
“I love dealing with the IRS,” said no one, ever. But, President Trump has signed a bill that will reform the IRS in an effort to make it more taxpayer-friendly. You’ll still have to pay your taxes, [...]
Don’t forget about Your Old 401(k)s
Do you have multiple 401(k)s? If you left your money in a former employer’s 401(k), you may want to reconsider as you near retirement. According to the Bureau of Labor Statics, Baby Boomers have held an average [...]
Financial Lessons from a Founding Father
July 12th marks the 215th anniversary of Alexander Hamilton’s death. As the first secretary of the treasury for America, he created the first national bank, consolidated the new country’s war debts, and established credit the country could [...]
3 Things to Do if the Stretch IRA Dies
The House of Representatives voted in favor of the Secure Act 417-3, and the bill is now on a fast track to vote in the Senate. The bill would do away with the tax-planning strategy for inherited [...]
Covering Long-Term Care Costs
Some of the major expenses you’ll need to anticipate in retirement are your healthcare costs. There are many choices to make when it comes to choosing a Medicare plan, using an HSA, and qualifying for Medicaid. One [...]
Social Security’s Decreased Buying Power
Some are worried about the state of Social Security since the latest report found that starting next year, the program’s annual cost will exceed its income. Some speculate that since the program’s trust fund is expected to [...]
Higher HSA Contribution Limits
If you have an HSA or are planning on opening one, you’re in luck: The IRS has announced higher contribution limits for 2020. Starting next year, you can contribute up to $3,550 for individual coverage, or $7,100 [...]
Giving the Gift of Education
It’s graduation season, and along with all the wonderful things a college degree comes with are also student loan debts. If you’re attending high school or college graduations, no one may be talking about it, but the [...]
Why You Should be Worried About Inflation
You may have heard that we’re on the brink of war – a trade war that is, with China. Trump’s proposed tariffs on imported Chinese goods and services has already affected the market, and could affect inflation. [...]
How the Rules of Homeownership Have Changed
Are you thinking about downsizing in retirement? Maybe you plan to make your vacation home your primary residence once there’s no office to commute to everyday. Or, maybe you’re considering buying a property to rent out to [...]