It is the taxpayer’s responsibility to keep records of distributions made to charity and contributions to their IRA and account for those on their tax return.
Personal financial planning is critical to help ensure that, in both good times and bad, emotions do not lead to irrational money management decisions and costly mistakes.
As you wait for those semi-warm days of spring, there are a few things you can do between now and April 15th connected to your 2020 tax return.
Retirement isn’t a reward you one day receive at random. It’s not something you jump into without a thought in mind. You work up to this day with purpose, precision, and dedication.
I certainly would argue that building a business is more than just a dice game, but both involve risk. How you fill out your scoresheet in Yahtzee is a good example of what business owners might decide to do with their business profits.
We had completed our hike successfully, and the challenges made it more memorable and satisfying. The same is true for all of us as investors.
Most notably, the bill included another round of direct payments to Americans, many of whom have already received the $1,400 (individually), plus per spouse and dependent/s.
As you start checking these items off the list, the biggest things you have running through your head are dollar signs – lots and lots of dollar signs.
Here are some ideas and tools you can use to help make your saving automatic, the biggest key to growing your savings.
According to a 2020 Federal Reserve study, 36% of American adults do not have enough cash to cover a $400 unexpected expense1. While the opposite 64% say they DO have enough, that still leaves around 90 million American adults unable to handle a modest money disruption in their lives.
It has been eight years, but the memories are still fresh! My wife and I loaded our four daughters into our Dodge Grand Caravan and headed west for our long-anticipated “Westward Ho!” journey. As we crossed the great plains into the Rockies and traversed the high desert of New Mexico into the arid Arizona desert, we laughed, fought, slept, played games, and created incredible memories.
While each person has different long-term goals, a common future desire that exists for most people is retirement. There's a day coming when you won't want to, or can’t, work anymore, and your income will need to be replaced. This is a huge “future self” liability that has to be considered.
At the end of 2021, outstanding consumer debt in the United States, including mortgages, student loans, auto loans, credit cards, etc., totaled $15.6 trillion, which equates to about $50,000 per American. Clearly, we are no strangers to debt. Ultimately, getting rid of consumeristic debt will help you save and accomplish your goals.
I start getting anxious this time of year when I am forced to collect all the necessary information for my tax advisor. In preparation for the upcoming tax deadline, Monday, April 18, 2022, I wanted to summarize what to expect in the way of relevant tax information related to your investments.
For more than 20 years, I ran competitively. Last year, I spent three to four months training consistently and failed to reach one of my goals.
Are you really saving as much as you could without someone pushing you? Are you really investing in the most appropriate manner without someone advising you? Are you really on track toward financial independence at the earliest age possible without someone mapping out the path?
My husband and I bought tickets to see the Vikings play their final game of the regular season. We wanted to do something fun during the dark and cold days of January, and we wanted to do it together, without the kids. But...
In working with over a hundred prospective clients in the past five and a half years, I’ve found that these are the two most important questions you need to ask yourself...
You can’t have spring without spring cleaning. As you tackle your home, yard, and other spaces this year, your financial plan might also need to be spruced up. Here are a few tips to clean up your financial plan this spring.
There is always more stuff to do or buy. There are always more “what if’s” for which to account. It’s a rare creature who has found contentment in what they already have, a person who no longer searches for the next thing or feels empty because of what they do not have.
