Believe
it or not, the penalty for failing to file a tax return exceeds the penalty for
failing to pay your taxes. Filing an extension is a way to make sure you don’t
fall into the bad graces of the Internal Revenue Service.
I’ve
talked to lots of folks who would rather give up...
One quick glance at the interest rate your bank is paying on your hard-earned savings account balance and you'll turn green. Even though the Federal Reserve has been raising benchmark interest rates for the past three years, the big banks have not followed suit. They are the biggest beneficiaries...
“I
can’t wait to retire!” Have those words ever come out of your mouth? Oh, the
thought of divorcing that demanding, unreasonable boss; doing what you want
when you want; burning all the bridges you never intend to cross again. It’s
the payoff for all those years of hard work.
Unfortunately,
the retirement dream we’ve...
According
to a Gallup poll, 51% of nonretired Americans don’t think they will have enough
money to live comfortably in retirement. Retired Americans are more confident,
with 78% saying that they have enough money to live comfortably. However,
wherever you are on the spectrum, no matter if you are just starting to save
for...
Among America’s older population there is a growing concern about the state of their retirement and many are choosing to stay in the workforce much longer. In a previous article I listed concerns of older workers about whether they will ever be able to retire; concerns that include whether...
Estate planning. It’s not one of
the most pleasant topics because you have to admit your own mortality. But, for
people who want to take care of their loved ones, estate planning is essential.
Without a plan, distribution of your estate will be determined by a court or a
bureaucrat—probably not the way...
Father
Time has closed the book on 2018. We’ve sung Auld Lang Syne. And now our focus
is on all the things that have to be done this year, which includes filing your
income tax return for 2018 using the new tax rules. Oh Joy!
Staying
in the good graces of the IRS has...
Since
the passage of the Affordable Care Act (ACA) in 2010, health insurance has
become a four-letter word. There is an unending search to find the best
coverage with the most benefits at the best price. It’s hard to wade through
the swamp of legitimate plans and protect yourself from the quickly morphing
supply...
At
the beginning of every year, Americans receiving benefits from Social Security
and Medicare find out what changes have taken place and what it means to their
bottom line. This year is no exception. For 2019, Social Security recipients
get the biggest annual raise they’ve had for quite a while. Some higher-income
workers will...
Well it's that time of year again. Time to make your New Year's resolutions and get things back on track. January is as good a month as any to get started on a more disciplined and fulfilling path. Getting physically and fiscally fit both require similar approaches. You need...