Why Do People Spend More Money Than They Earn? Some believe Americans have a YOLO problem. The term, which is short for “you only live once”, has become quite popular. It is so popular that #YOLO is a searchable keyword on Facebook and Twitter. Many Americans believe in retail therapy. Shopping allows people to visualize…
Are Your 2018 Income Taxes Going Up or Down?
The tax filing deadline for our 2017 income tax returns has come and gone. Are your 2018 income taxes going up or down? To help you answer that question, let’s dive into some tax changes in Tax Cuts and Jobs Act of 2017 (TCJA). First, here are my observations from the 2018 individual income tax filing season. Learnings…
Tax Reform: Changes for Individuals
Tax Cuts and Jobs Act, is a $1.5 trillion tax-cut package that fundamentally changes the individual and business tax landscape. Many of the provisions in the new legislation are permanent. Other provisions, including most of the tax cuts that apply to individuals, will expire in eight years. Some of the major changes included in the legislation…
Tax Cuts and Jobs Act: Impact on Individuals
On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act, a sweeping $1.5 trillion tax-cut package that fundamentally changes the individual and business tax landscape. While many of the provisions in the new legislation are permanent, others (including most of the tax cuts that apply to individuals) will expire in eight…
A Savings Carol
As in life, this Savings Carol has ups and downs. If you are patient with your savings and with this video, the end is good! Enjoy the holidays!! To listen to the video click here – A Savings Carol. A Great way to start 2018 would be to look at your financial health. Here is a checklist…
How to Protect Yourself Against Identity Theft
Massive computer hacks and data breaches are now common occurrences — an unfortunate consequence of living in a digital world. Once identity thieves have your information, they can use it to gain access to your bank and credit card accounts, make unauthorized transactions in your name, and subsequently ruin your credit. Now more than ever,…
IRA and Retirement Plan Limits for 2018
IRA contribution limits The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2018 is $5,500 (or 100% of your earned income, if less), unchanged from 2017. The maximum catch-up contribution for those age 50 or older remains at $1,000. You can contribute to both a traditional IRA and a…
What Will You Pay for Medicare in 2018?
The Centers for Medicare & Medicaid Services (CMS) has announced that the standard monthly Part B premium in 2018 will remain $134 (or higher, depending on your income). In 2017, most Medicare beneficiaries who received Social Security benefits paid a lower monthly premium ($109, on average). However, this is likely to change in 2018. Due…
Social Security and Medicare Update – 2016
Those of you who rely, or will rely, on Social Security and Medicare should watch this video. Social Security and Medicare Update-2016 provides detail on where these programs are financially. Social Security Claiming Trying to figure out the details of Social Security? Trying to decide when to begin collecting your benefits? This post may help: Social…
Social Security Claiming: Retirement, Spousal and Survivor Benefits. Both An Economic and a Personal Decision.
Knowing when and how to claim your Social Security benefits is not easy. However, a November 2015 law made certain claiming strategies easier to understand, but not as lucrative for married couples. Let’s take a look at strategies to collect monthly Social Security amounts when both you and your spouse are living. We will review…
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