5 Ways to Get a Jump on Next Year’s Taxes

Yes, tax season is officially over. And you might be kicking back and relaxing, putting off thinking about next year’s taxes as long as you can. However, smart taxpayers know that the more you plan ahead, the better chance you have of reducing the amount you pay next time around. Here are a few easy ways to get a handle on your financial future – aka next year’s taxes.Understand Claiming Dependents. When you know the rules, it can be a game changer. Let’s start with the basics. You can take [...]

2019-05-01T12:00:07-08:00May 1st, 2019|

What To Expect From 10G Data Speed

When it comes to smartphones, speed and connectivity is generally referenced by generation. For example, the industry is currently focused on creating 5G networks.However, in the cable industry the G refers to gigabits. Over the past two years, this industry has expanded the availability of 1 gigabit broadband Internet from 4 percent to 80 percent of U.S. households. Now that the foundation for gigabit expansion exists, the cable industry is looking to increase speeds by tenfold and make it accessible to more homes and businesses globally.The new focus is on [...]

2019-05-01T12:00:06-08:00May 1st, 2019|

HSA Accounts and Their Incredible Long-term Benefits

Pretty much everyone has heard about 401(k) plans, but beyond these – Health Savings Accounts (HSAs) also can be great retirement vehicles. HSAs are tax-advantaged savings accounts for those with high-deductible health plans (HDHPs). The idea is that since those with HDHPs generally have lower premiums but higher out-of-pocket expenses, they need a way to save for such expenses.Few eligible taxpayers take full advantage of HSAs. The Employee Benefit Research Institute estimated a few years ago that out of the approximately 17 million people eligible, only about 13.8 million opened [...]

2019-05-01T12:00:05-08:00May 1st, 2019|

CPI and Consumer Spending: How Will It Affect Stocks in 2019?

With the price of lettuce increasing by 15 percent over the past 12 months at the end of February, and television prices dropping 17 percent during the same period, according to the Bureau of Labor Statistics, these statistics show the dynamism of consumer goods.Since consumer spending continues to make up approximately two-thirds of the U.S. economy, according to the St. Louis Fed, understanding how it impacts company earnings and future stock market movements is essential.Surveying Consumer Spending Based on the March 29 Bureau of Economic Analysis (BEA) release, consumers are [...]

2019-05-01T12:00:04-08:00May 1st, 2019|

How to Budget for Estimated Tax Payments

According to a March 22 Internal Revenue Service News Release, 2018 federal tax filers might be able to have any penalties for an underpayment of estimated tax removed. This could be possible if they've paid at least 80 percent of their 2018 tax obligations through either quarterly estimated payments, income tax withholdings or a combination of both during the 2018 calendar year.This new level was established after the 90 percent payment requirement was reduced to 85 percent of estimated tax obligations on Jan. 16. With paying estimated taxes a legal [...]

2019-05-01T12:00:03-08:00May 1st, 2019|

Coverage and Tax Considerations For Work-Sponsored Life Insurance

While employers have cut back on pensions and their 401(k) plans do not offer the same level of retirement income security, they have stepped up in the area of life insurance. The majority of Americans (68 percent) have a life insurance policy through their employer. In fact, more people get it through work rather than purchasing a policy on the market for the first time in history.Most employers offer term life insurance typically at a coverage rate of anywhere from one to three times a worker’s annual salary. Term life [...]

2019-05-01T12:00:02-08:00May 1st, 2019|

Vetoes, Resolutions and Recognition

Relating to a national emergency declared by the President on February 15, 2019 (H.J.Res. 46) – This resolution was an effort to block the national emergency declared by President Trump to redirect funds to build a wall at the Mexico border. It was introduced on Feb. 22 by Rep. Joaquin Castro (D-TX), passed in both the House and Senate but was then vetoed by the president on March 15. An attempt to override the president’s veto failed in the House on March 26.A joint resolution to direct the removal of [...]

2019-05-01T12:00:01-08:00May 1st, 2019|

3 Tax Woes and How to Survive Them

The tax deadline is roughly two weeks away. But if you’re going to be late in filing, can’t pay all of what you owe or have the fear that you might be audited, don’t panic. We’ve got you covered with some smart ways to handle these three, potentially scary scenarios.Late FilingOf course, if you owe, make every effort to file as soon as possible to avoid penalties and interest. But the good news is, if you’re owed a refund, there’s no penalty for filing late. More good news: For those [...]

2019-04-01T12:00:07-08:00April 1st, 2019|

How 3D Printing Can Enhance Your Business

There will likely always be a need for a traditional paper printer, but there’s also a growing case that 3D printers may one day become commonplace in the average small business office. Consider the way that desktop publishing became mainstreamed, allowing small business owners to create their own marketing materials. New 3D printers offer a similar advantage by producing physical objects customized with your message.3D printing places complex manufacturing techniques and machinery right at your desktop. As the technology grows less sophisticated and less expensive, we will see more small [...]

2019-04-01T12:00:06-08:00April 1st, 2019|

Trump Tax Law Makes Now the Perfect Time for the Roth Conversion Retirement Trick

Converting a traditional IRA to a Roth IRA takes some fortitude and faith in the future numbers because this change can accelerate your tax bill. The current market and tax rate cuts from President Trump’s plan, however, are creating an environment ripe for conversions and making the move much more palatable. Together, these two factors are essentially creating new groups of taxpayers for whom a conversion makes good sense.IRA Basics RevisitedContributing to a traditional IRA gets you a tax deduction now, at the time of your contribution and allows your [...]

2019-04-01T12:00:05-08:00April 1st, 2019|