taxes

What Is Tax-Loss Harvesting And How Can It Save You Money?

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There are many facets to investing. One thing all investors will not want to overlook is the tax consequences that come with being a successful investor. Because all net profits made from investments sold in taxable brokerage accounts come with tax liability, your investment strategy should consider the consequences. To reduce tax liability, a strategy […]

What Is A Backdoor Roth IRA And Is It Right For Me?

When it comes to retirement savings accounts, there are several options available. But your choices for individual retirement accounts can seem limited if you’re a high-income earner. This is especially true when you look at the Roth IRA. A Roth IRA (Individual Retirement Account) is an excellent way to save for retirement. Though you pay […]

What Common Tax Mistakes Are Made When Filing Returns?

Preparing your own tax return can feel like a very bold endeavor. When it comes to filing simple short-form returns, there is less chance of making significant errors. These types of returns are pretty straight forward and require you to provide very little information. While you should proceed with care and caution, you are likely […]

Is It Worth The Money To Have Someone Do My Taxes?

Whether you’re excited your last tax statements arrived or you’re dreading pulling all of your tax paperwork together, it’s time to consider preparing your taxes. If you’ve organized all your tax documents and are anticipating a refund, filing early makes sense. But those who think they’ll owe the IRS (and/or state taxes), probably shouldn’t delay […]

Alternative Investments, What Are They And Should You Hold Any?

Saving cash in money markets or CDs, and investing in the stock market via stocks and bonds through 401(k)s or IRAs are where many of us start when looking to grow our money beyond a simple savings account. As we continue to look for ways to build our wealth and secure our financial house, we […]

What Can I Do With An Old 401(k)?

Leaving a job is a significant life transition. Whether you planned to depart or not, there’s a myriad of things to keep track of during that time. One of the most important is what happens to your 401(k) retirement savings plan. You want to ensure the account continues to support your overall financial goals as […]

Turning My Hobby Into A Business, Are There Tax Benefits?

You started out designing t-shirts for a family reunion. Before you knew it, requests for other designs were trickling in. Does this sound familiar? Maybe it isn’t graphic design. Perhaps it’s dog walking, babysitting, reselling, or crafting. If you’re like most people, you have a hobby you love and are really good at. A growing […]

What Business Structure Is Right For My New Business?

After lots of dreaming and planning, you’ve settled on a business idea. You’ve chosen a name, identified target customers, started networking with other entrepreneurs and have a color scheme planned for your website and marketing materials. But before you get too excited, there are many additional considerations to be made. One of the most important […]

457(b) Plan: What Is It And Who Qualifies For One?

There’s a good chance you’ve heard a lot of talk about retirement plans. In particular, most people are familiar with 401(k) plans. But if you work in the public sector, you likely won’t be able to get your hands on a 401(k). Instead, your employer probably offers a 403(b) option. Those retirement plans are important, […]

What Is Open Enrollment And Do I Need To Do Something?

It’s that time of year again. You’re getting emails from human resources talking about the upcoming Open Enrollment period. There are copies of different insurance plans and their costs available for review. You also hear people discussing their current health insurance plans and how they want to review other programs your employer offers. If you […]

REITs: When Is It The Right Time To Invest? [Pros and Cons to Real Estate Investment Trusts]

Real estate investing is one way to accelerate your journey to financial freedom. Often times, people associate real estate investing with flipping houses or owning rental properties. If this type of investing isn’t for you, don’t dismiss real estate entirely. Instead, real estate investment trusts (REITs) might be the solution to diversifying your investment portfolio. […]

How Do I Use My 401(k) Savings Plan To Make More Money?

Whether you’ve just started a new job or you’ve been with the same company for years, it’s critical for you to understand your retirement plan benefits. Knowing the fundamentals of your 401k savings plan will enable you to make wise choices about saving and investing for your retirement. And this is an incredibly important issue […]

What Is Important To Consider Before Starting My Business?

Statistics tell us 50% of small businesses fail in the first four years. And, the reasons are multiple, from the lack of the managerial experience to the lack of finances. Starting a business on your own comes with significant risks. There’s a substantial probability you will lose your time, money, and reputation. But, it doesn’t have […]

Spousal IRA: What Is It And Can I Benefit From One?

Stay at home parents and spouses who have little-earned income can fall behind when it comes to saving for retirement. But, for those who are married and file a joint tax return, a spousal IRA may be well worth investment consideration. Although there are a number of requirements (mentioned below) the spousal IRA can be […]

What Do New Changes to the Tax Code Mean for Women?

In December 2017, Congress passed a new bill called the Tax Cuts and Jobs Act that made some big changes to the tax code. Many taxpayers were concerned about specific proposals in early versions of the bill. One particular area of concern was how the new tax bill would unfairly impact women. Tax Code Changes […]

Dependent Care FSAs: Will A Flexible Spending Accounts Save You Money On Child Care Expenses?

If you have a child in daycare or if you’ve started researching the cost of it, you’ve probably experienced some stress in finding affordable quality childcare. Childcare costs depend on many factors, and even though there are things you can do to save money, working parents still spend thousands of dollars each year for child […]

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