On December 15, 2017, the final version of the legislative text was released with the expectation to be signed into law by Tuesday, December 19th. I can say with confidence that this bill did not make taxes simple again. In fact, it is going to take months or years before we can identify all the . . .
On November 2, 2017, Congress released full details of 2018 tax reform proposals. Included in the proposals are changes for individuals and businesses. It passed 227-205 in the house on November 16, 2017. The Senate has variations to this bill. I noted some of them in the text below, but this article is primarily focused . . .
On November 2, 2017, Congress released full details of 2018 tax reform proposals. Summary version found here. Previously we had a skeleton (or less) version of the proposed tax changes. The majority of that outline remains intact. It is expected that this bill will be pushed through the house quickly with an expectation that by . . .
Word on the street this week is that deductible 401(k) contributions could be capped at $2,400. President Trump then rescinded that idea. Previously, there were stories that the deduction for 401(k) plans would go away completely. What replaces a deductible 401(k) isn’t clear… there could be Roth accounts or non-deductible accounts. It is well documented . . .
Deciding between the Dependent Care Flexible Spending Arrangement (DCFSA) and the Credit for Child and Dependent Care Expenses can be confusing. Let me break down the rules, so you don’t overpay for childcare. You must work or actively look for work Whether you are using the DCFSA or Credit for Child and Dependent Care Expenses, you . . .
What do Equifax, Target, and Verizon all have in common? Their customers’ personal information has been exposed to criminals. This might include you. Data breaches seem to occur with so much frequency it’s almost expected. The frequency of data breaches has distilled the perceived impact it can have on you. The fact is … you . . .
In the world of financial planning, there is an endless amount of advice. Because of this never-ending list of advice, it might be hard to get started with your financial plan. However, financial planning can be distilled down into six key principles: Awareness of your financial situation Optimize your spending Establish an emergency fund Save . . .
You are within a year of retiring, congratulations! While it is time to be happy, there are a few items to get out of the way. At this point you have identified you have enough money, you have an idea how you will spend your time, and invested in a way that fits your goals. . . .
The next time you turn on your GPS to get somewhere you haven’t gone before the starting point will say “Your Location.” Next time you’re lost in a mall you will look for the “You are Here” sticker. Get it? To get where you want to go, you need to know where you are. In financial planning the same is true. What does “knowing where . . .
Don’t know where to start on your financial plan? Start with “Why.” After you gain an understanding of your “why” everything else can fall into place. “Why” is simple in concept. It is the reason. It is the purpose. “Why” is extremely difficult for many people. Why? Because it is emotional, boring, embarrassing, and many more adjectives. It . . .