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Category Archives: Taxes
Your Two Percent Raise…..Part II
Tweet If you read my blog post last week, you noticed I mentioned the 2% social security tax reduction for tax year 2011. While this is certainly a nice pay raise, we need to make certain we don’t forget about the expiration of the Making Work Pay Credit. The Making Work Pay Credit benefited most earners with a $400 credit ($800 for … Continue reading
Posted in Cash Flow & Debt, Financial Planning, Savings, Taxes
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Your Two Percent Raise!
Tweet Did you realize you received a two percent raise in January? How can this be? You say your boss would never give you a raise. Well this take home pay increase didn’t come from your boss…..it came from the federal government. In Late December of 2010, President Obama signed into law a two percent reduction in the OASDI payroll tax. Old … Continue reading
Estimated Tax Payments: Should I Pay Quarterly?
Tweet April 18th is drawing near, which means your 2010 taxes are due. Hopefully, your return is complete and you are basking in the glow of accomplishment. But don’t relax just yet, for you may not be done. If you are required to make estimated payments for tax year 2011, your first payment is due April 18th as well. Our tax system … Continue reading
Ten Things Financial Planning Should Be!
Tweet I recently wrote about some of the misconceptions surrounding financial planning. I discussed what financial planning is not. After clearing the air about financial planning misconceptions, let’s discuss what financial planning should be. Here’s a list of ten things (in no order of importance) that are indicative to good financial planning. Financial planning should be: 1. Comprehensive/holistic I often tell clients … Continue reading
Posted in Financial Planning, Taxes
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Why Filing On-Time Matters!
Tweet It’s mid-March and tax season is in full force. Many people are struggling to gather data to give to their preparer to successfully complete their tax return. For other people, taxes end up as a second thought this time of year. These are the folks that push their returns out to the edge and file as late as possible…often extending their … Continue reading
Posted in Financial Planning, Taxes
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Three Ways to Reduce Your 2010 Tax Bill Now!
Tweet It’s that time of year again! Tax documents are arriving by mail and the race towards April 18th is on. While 2010 is over and gone, there are still things we can do to reduce our tax liability for last year. Here’s a list of a few things you can do now that might reduce your tax bill for 2010. 1. … Continue reading
Posted in Financial Planning, Savings, Taxes
Tagged financial planning, Financial Tips, tax planning, Taxes
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You Get What You Pay For!
Tweet Several years ago, after the completion my CFP® coursework, I was searching for practical guidance in tax preparation. I enrolled in the H&R Block tax course. I was seeking a pencil to paper type experience after the high level learning in taxation from the CFP® tax course. I breezed through the Block course and did walk away with the experience I … Continue reading
Posted in Financial Planning, Taxes
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April 18th and Three Reasons it is Not Important!
Tweet As we grow closer to tax time, I can fill the air thicken with anxiety. Oh joy, it’s the most wonderful time of the year. Well, maybe not, but it can be a great time to accomplish a required task. While the weather is dicey, it’s a good opportunity to do what is needed to organize documents for tax preparation. The … Continue reading
Posted in Financial Planning, Taxes
Tagged financial planning, income tax returns, state income tax returns, tax planning
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Tax Diversification and the ROTH Conversion Debate!
Tweet If the downturn of 2000-2002 didn’t teach us about portfolio diversification, 2008-2009 certainly did. Simply put, diversification spreads risk. Most people understand the importance of portfolio diversification, but tax diversification is still a mystery to most. Essentially, the theory is to maximize tax reduction strategies and reduce taxation. My clients hear me talk about this rather frequently. One particular area where … Continue reading
Posted in Retirement, Taxes
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Can You Answer These Questions?
Tweet As we move through life, we get bogged down with day to day activities and might find that small pieces of our financial puzzle get neglected. These neglected areas can have a negative impact on our ability to meet our goals. If you can positively answer the ten questions below, you are certainly putting your best financial foot forward. 1. Do … Continue reading
Posted in Investments, Taxes
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