Do you have a financial plan that works for both you and your spouse? Here are suggestions that can help. Organize your finances. Get a handle on your income and spending, by both of you individually and as a couple. By reviewing the overall picture of how you spend money, you can focus on potential […]
Archives for January 2017
Tax bracket, tax rate, what’s the difference?
The difference between your tax bracket and your tax rate is more than a trick question. For example, knowing your tax rate gives you an accurate reflection of your tax liability in relation to your total income. Knowing your tax bracket is useful for planning purposes. For instance, you may want to spread a Roth […]
Are you starting a new business in the new year?
Put these items on your to-do list. Business plan. Outline who will own the business and what the legal form will be, your qualifications to run the business, the competitive market you face, the products or services you will sell, and how you intend to advertise to prospective customers. How much cash will you need […]
You don’t have to itemize to claim these deductions on your 2016 return
Can’t itemize? You can still claim some expenses on your 2016 federal income tax return. Here’s how you can benefit. * IRA and HSA contributions If you made a contribution to your traditional IRA for 2016, or if you plan to make a 2016 contribution by April 18, 2017, you may qualify to deduct up […]