One way a business can manage its books and viability in the near and long terms is to see how liquid its assets are. Businesses that have better cash positions are naturally geared toward sustaining continued success. One important reason for a business to measure and maintain healthy levels of liquidity is because it promotes…
No matter how old your children are, it’s always a good idea to start saving for college as soon as possible. (Yes, even when they’re still in diapers.) This might sound overwhelming, especially if you haven’t started, but take heart, it’s never too late. Here are a few things to do before you start saving,…
It’s never too early to helps kids understand accounting – the concepts of earning and spending. Here are a few ways to teach your little ones about how money works and even have a little fun. Play Money Games One way to explain the principles is by playing games like Monopoly and The Game of…
The SECURE Act of 2019 is a broad bill with the purpose of increasing access to tax-advantaged retirement accounts in order to prevent retirees from outliving their assets. It mostly impacts those already in retirement or close to it. 1. RMD Relief: Previously, IRA and employer-sponsored retirement plan holders were required to start taking Required Minimum…
Beginning on Jan. 1, 2020, the Internal Revenue Service (IRS) has new annual inflation adjustments for tax rates, brackets, deductions, and retirement contribution limits. Note, the amounts below do not impact the tax filing you make in 2020 for the tax year 2019. These amounts apply to your 2020 taxes that you will file in…
It may be hard to believe, but the end of the year is upon us. During this time, many of us might reflect on the year and tally up the good and the bad, the pros and the cons of the past 12 months. In a society that focuses on success and getting ahead, probably…
The markets are hitting all-time highs, so if you are thinking of selling stocks now or in the near future, there is a good chance that you will have capital gains on the sale. If you’ve held the stocks for more than a year, then they will qualify for the more favorable long-term capital gains…
Economists generally determine that the country has fallen into a recession after two consecutive quarters of negative gross domestic product (GDP) growth. Since 1967, the United States has experienced seven recessions. The thing is, predicting a recession is a little like predicting a tornado. Experts are never exactly sure if or when one will occur,…
With the start of the fourth quarter of 2019 underway, it’s time to see what the Internal Revenue Service (IRS) will expect of filers for their 2019 taxes. The following are a list of major changes that filers need to be aware of: 1. Removal of the Affordable Care Act’s (ACA) Individual Mandate Penalty With…
Statistics indicate that the average life expectancy is longer than it used to be, but empirically we see this every day among elderly people who have lived much longer than they probably expected. This phenomenon spotlights a particular component of retirement planning that was not as significant in the past as it is now: long-term…
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