Articles

The American Institute of CPA’s (AICPA) recently published a list of personal finance trends that we should all be concerned about. These trends highlight the fact that almost 63 percent of Americans today are unable to pass a basic financial literacy test.

Here are the troubling trends, as well as some tips on how to avoid them:

The new tax law has doubled the standard deduction and eliminated or changed other deductions. So, many may be taking the standard deduction. IF your tax bracket or net effective tax rate is lower this year, you may want to consider converting some IRA assets to ROTH IRA.

 Converting IRA to a ROTH IRA is taxable!

             According to SS Trustees 2016 Report, for 26 years between 1984 to 2009, the trust fund backing social security retirement benefits took in payroll contributions (tax) that were greater than the retirement benefit payments.

What assets are considered in the FAFSA (Free Application for Federal Student Aid)?

What is it? This FAFSA is used to determine if a student qualifies for federal or state financial money as well as if a student qualifies for tuition help from the college itself.

The FAFSA form is not easy to complete especially the first time.

It’s never too early, but it can be too late.

This “Season” In Review

We tend to think of the season from January to April 15th each year as “tax season.” It is an important and busy time of year for most of us and, thankfully, another year of this “season” has come and gone.

Key Questions: Have you reviewed your life insurance? Is your policy performing up to expectations?

Too often, I see insurance policies that have been in place for many years that the insured has not reviewed.

What to Consider and What to Keep in Mind.

Attached to the tax extension laws that were passed at the end of 2014 by Congress was a bill to create a new tax preferred savings vehicle.   For those who are supporting individuals with disabilities, the “Achieving a Better Life Experience (ABLE) Act introduces a new type of tax advantaged savings account that is specifically designed to address some challenges faced by these

Under the Microscope: The importance of examining your life insurance annually

Key Questions: Have you reviewed your life insurance? Is your policy performing up to expectations?

Too often, I see insurance policies that have been in place for many years that the insured has not reviewed.

Performance: