Is it bad to have debt? Should you pay off your debt early? What about credit cards? These are all questions to consider regarding your personal and business finances. Let’s take a look at the good and bad. If you view debt as a financial tool to help you to achieve your goals, then debt […]
New Car or Used Car?
When shopping for a car or truck, there are two big decisions to make: new car or used car and buy or lease. Let’s review the pros and cons of purchasing a new car vs. a used car, and we have written about buying vs. leasing in prior articles. New Vehicle Pros: The best thing […]
Are You Spending Too Much?
It is very easy to spend a lot more money than you should. Between ATM cards, credit cards, and online shopping, it seems that your money leaves your bank account automatically (actually, it sometimes does)! The point is to make sure that you are spending and saving money on the things that are important in […]
Your IRA is a Tax Time Bomb
Individual retirement accounts, also commonly referred to as IRA’s, are a great way to save for retirement and potentially reduce your current taxes. Although these benefits are great, there is a tremendous downside that can impact you if you make a wrong move. Early Withdrawal Penalty: If you need to withdraw money from your IRA […]
The Smartest Money You Ever Spent
Spend, spend, and then spend some more. We all spend money, but what if we looked at spending money in specific ways to earn more money and improve our lives at the same time? Although not usually considered investments, there are ways to spend money to earn more. College Education: The cost of college has […]
Common Questions & Answers
Tax season is just about upon us, and here are some common questions our clients have: Q: Does an extension also extend the amount of time I have to pay my taxes? A: An extension only extends the amount of time to file your return, but if you owe taxes, then you will incur penalties […]
What is a Self-Directed IRA?
Individual retirement arrangement or IRA’s are very common and well-known. Normally when someone owns an IRA they invest in stocks, bonds, and mutual funds, but did you know that there is alternative arrangement, called a self-directed IRA? A self-directed IRA allows an individual to invest in a wide array of assets, including real estate, private […]
Affordable Care Act Provisions You Should Know
There are many provisions and rules to know about Obamacare so let’s start with some basics that you should know. Individual Shared Responsibility: This provision requires you and your family to have qualifying health insurance, otherwise you will need to make a responsibility payment (really a tax) on your 2014 tax return. The payment is […]
Effectively Marketing Your Business
Technology is constantly changing and so has the way a business can market. Even with these changes there are two basic ways a business should focus their marketing. Marketing to Existing Customers: This is when you focus your efforts on people who currently make purchases from you. LL Bean does an excellent job at this. […]
Estate Planning Mistakes
You don’t have to be wealthy to make sure your financial affairs are in order nor is estate planning just about minimizing taxes. Estate planning insures that your loved ones are taken care of and your intentions are carried out. Not Having a Will: A will not only spells out how your assets will be […]