New Rules Mean Saving More for Retirement

Posted on 27. Feb, 2020 by in Managing Finances, Misc. Articles, Retirement Accounts, Tax Tips

The Setting Every Community Up for Retirement Enhancement Act, also known as the SECURE Act, was passed by Congress in late December 2019. Here are some of the features in the new legislation that will help you save more for retirement: Money can continue to grow tax deferred If you turn 70½ in 2020 or […]

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Is It Time to Step In?: Aging and Help with Financial Matters 

Posted on 28. Jan, 2020 by in Aging, Misc. Articles

As the baby boomer generation ages so do the parents of the baby boomers. With this aging process there will come a time when a parent needs help. Much of the focus centers on managing things like transportation, mobility, health care, and home maintenance. Harder to spot is the need to help with bill payments […]

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Make Your Cash Worth More

Posted on 16. Jan, 2020 by in Cashflow, Managing Finances, Misc. Articles, Small Business Tips

Your cash is parked. Do you know if it’s making or losing you money? For instance, letting it sit in a non-interest-bearing account is a waste of earnings potential. It’s actually losing money if you factor in inflation! Here are some ideas to help you make the most of your banked cash: Understand your bank […]

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Do You Have a Revenue Plan for 2020? 

Posted on 09. Jan, 2020 by in Managing Finances, Small Business Tips

 A great way to start the New Year is to get clear on exactly how you can make your revenue goal number.  A revenue plan is the perfect tool.  You’ll need to be proficient in Excel, and if not, you can work with your accountant on this very important and enlightening spreadsheet.     Start by listing all of your […]

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2020 Retirement Plan Limits

Posted on 07. Jan, 2020 by in Retirement Accounts, Small Business Tips, Tax Tips

As part of your 2020 planning, now is the time to review funding your retirement accounts. By establishing your contribution goals at the beginning of each year, the financial impact of saving for your future should be more manageable. Here are annual contribution limits: Take action If you have not already done so, please consider: […]

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There’s Still Time to Add to Your IRA

Posted on 02. Jan, 2020 by in Misc. Articles, Retirement Accounts

There is still time to make a contribution to a traditional IRA or Roth IRA for the 2019 tax year. The annual contribution limit is $6,000 or $7,000 if you are age 50 or over. Prior to making a contribution, if you (or your spouse) are an active participant in an employer’s qualified retirement plan […]

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The Short and the Long of It

Posted on 21. Nov, 2019 by in Accounting, Managing Finances, Small Business Tips

The balance sheet is one of the main financial reports for any business.  Among other things, it shows what a company owns, what they owe, and how much they and others have invested in the business.  One of the characteristics of a balance sheet is how it separates what you own and what you owe […]

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Tips to Improve Your Credit Score

Posted on 08. Nov, 2019 by in Managing Finances, Small Business Tips

Your credit score is more important than ever. Once viewed as a necessity when applying for a mortgage, it now factors into renting an apartment, paying for utilities, buying a cell phone, and determining the amount you pay for home and auto insurance! Here are tips to help you improve and maintain a good credit […]

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Ideas to Improve Your Financial Health

Posted on 04. Nov, 2019 by in Managing Finances, Small Business Tips

No-one likes to be blindsided by financial hardship. Listed here are ten ideas to help ensure your financial health stays healthy. Your safety net. Plan to have a minimum savings balance to cover three months of expenses. Ideally this should be six to twelve months. If your reserves are light, start saving now. Even if […]

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Smart Tactics to Manage Student Debt

Posted on 10. Sep, 2019 by in Budget, Managing Finances

According to the Federal Reserve, U.S. student loan debt is now $1.5 trillion with more than 44 million borrowers. Only mortgage debt currently has bigger numbers among types of consumer debt. Even worse, more than 10 percent of these loans are past due. Here are some tactics to help make student debt easier to manage: […]

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