Widespread Unemployment Fraud Makes For a Nightmarish Tax Season

There’s no denying that most Americans had a difficult year in 2020 — and we’d like nothing more than to leave it in the past. But as Tax Day approaches, it’s clear that the memories of last year are now back to haunt us. And if you’ve unknowingly become the victim of unemployment fraud, that […]

5 People Who SHOULD Use Permanent Life Insurance

I’m tired of people beating on permanent insurance. Last week yet another colleague of mine said, “I can’t think of a time when somebody should buy anything but term insurance.” I told him I could name five. He scoffed. I listed them off quickly to him, and today I’ll do the same for you. I […]

Small Business Tax Forms & Which One You Should Use for Your Small Business

This is a guest post by Phillip Christenson, CFA, from Phillip James Financial. I asked him to share his expertise for us small business owners as January 1 is right around the corner. Read on how to choose whether you should be using Schedule C, Form 1065, or something more specific. This summary on tax […]

The Facts about the Obamacare Tax Credits

It’s been said, a fool and his money are soon parted.  The rest of us wait for April 15th.  But that might be about to change.  There is real gold tucked inside the health care laws complex tax credits if you’re willing to dig a little. If your family makes less than $94,000 per year, […]

How I Picked My CPA out of Thousands of Registered Tax Preparers

A couple of years ago I was in imminent need of a CPA. Up until then I had used Turbo Tax and even after running into some hiccups, because of some online stock trading I had done, I stuck with them. I had boug ht a home in March and planned to file my tax […]

What do I do if I owe Taxes?

It’s tax time again and each year in April comes the deadline we dread. This year, 2013 the deadline is April 15, Monday. Yes, today! Some of us already filed our Federal Tax Return and know we’ll be getting a fat check from the IRS. Congrats to you! Although it is actually better to get […]

Maximize Your Federal Tax Withholding Allowance And Keep Your Own Money

In 2013, over 50% of all Americans will receive a tax refund.  The majority of those receiving a tax refund claim that they will use it to pay off debt.  Somehow, we have associated a refund with something positive, while owing taxes is perceived as something you should avoid at all costs.  This misconception is […]

The Fiscal Cliff [Infographic]

Today’s financial infographic deals with a VERY important issue facing the nation this year – the fiscal cliff. By the end of 2012, several tax cuts are set to expire while other tax increases are set to begin. The temporary payroll tax cut will end (2% reduction in take home pay), certain breaks for businesses […]

The State of Social Security – Midweek Infographic

In the last couple of years, several Ponzi schemes have graced the front pages of newspapers and magazines. Bernie Madoff managed to make billions disappear, a few months ago a Chicago commodities trader was convicted of the same and just two weeks ago, $200 million went missing from another firm. The state of the fudiciary […]