We are currently in one of the longest economic recoveries ever recorded. That is excellent news, but on the flip side, we are due for a recession. Who knows when that will happen, but there are steps to take to prepare yourself and possibly take advantage of any future downturns: Don’t Live on the Edge: […]
Budgeting
Don’t Worry if the Timing is Not Right to Conquer the World
Ever feel frustrated that your business or your career isn’t going as well as it should? I’m sure that most people feel like this from time to time, but sometimes there are valid reasons for this. Not excuses, as the “success” coaches may call them, but as human beings we have many moving parts to […]
Bad Credit Card Policy?
Some business owners are penny wise and pound foolish with their credit and debit card policies. Even worse some do not even accept credit cards. Here is why you should review your credit card policies: Higher Purchase Amounts: Statistics show that when consumers use a credit or debit card it increases the amount of their […]
3 Ways to Wealth (Almost Anyone Can Do)
Aside from inheriting your wealth, there are 3 main ways to become wealthy over time that almost anyone can do and there really are no secrets. They all depend upon income, savings and investments as follows: Slow and Steady Corporate Route: This is the most common, easiest, and accessible way for most people even with […]
Are Children Really That Expensive?
Virtually every financial article regarding children makes you think that you will go broke if you have children. Between childcare, housing, food, diapers, vacations, clothing, activities, and especially college, they make it seem that you can’t afford to even think about children. The truth is that raising children is as expensive as you make it. […]
Did Your Tax Balance Catch You by Surprise?
What should you do if you file your tax return and then realize that you now have a large liability that can’t pay? First, don’t panic as there are several options for you: Installment Agreement: An installment agreement can be a good option for you, which can sometimes be requested when you file your tax […]
Lower Tax Brackets = Higher Taxes?
The recent tax law changes have lowered the tax brackets starting in 2018, but that does not necessarily mean lower taxes. This is due to the elimination or reduction of items that are no longer deductible. Deductions that have disappeared include, but are not limited to: Personal exemptions: This will have the most impact on […]
What’s Your New Tax Bracket?
The recent tax laws have not only changed the income tax rates, but have also expanded the income that falls within each bracket. Here’s an example of the old rates vs. the new rates for married individuals filing a joint return: Old Brackets: Rate Taxable Income 10% $0 – $19,050 15% $19,051 – $77,400 25% […]
(Don’t) Fake it ‘Til You Make It’
Fake it until you make it! I heard this expression recently and many times in the past, but this time it made me cringe. Some might feel that there’s nothing wrong with showing people how successful and smart you are when you’re not really there yet. Here’s the problem and what to do instead: It’s […]
Update: LOWER NJ Sales Tax Rate to Take Effect on January 1, 2018
The sales tax rate will decrease to 6.625% on and after January 1, 2018.