A Roth IRA account can be used to save for both retirement and education expenses; however, there are some disadvantages to doing so, including lower contribution limits and the possibility of taxed earnings. For more information on Roth IRA rules and how an account affects education savings, read this Financial Strategy.
If you suffered any flood damage from Georgia’s September storms, you may qualify to take a casualty loss on your tax return. As with all tax deductions, there are several criteria that must be met. For more information on casualty loss and disaster relief, read this C.P.A. Insight.
Income mutual funds often invest in companies that pay dividends, bonds or a combination of both. Some income funds may also have a secondary objective of capital growth. For more information on several types of income bond funds and the types of bonds they may hold, read this Investment Whys.
The American Reinvestment and Recovery Act of 2009 provided several tax incentives regarding saving for college and paying tuition for higher education for the 2009 and 2010 tax years. For more information on how the Act affects 529 College Savings Plans and the newly created American Opportunity credit, read this C.P.A. Insight.
According to the Federal Emergency Management Agency, 25% of floods occur in low-to-moderate risk areas. After the mid-September storms, if you live in north Georgia, you may be painfully aware that your homeowners insurance specifically excludes flood damage. For information on how to protect your home against flooding, read this Insurance Know-How.
You stopped for coffee, dropped off some mail and picked up your dry cleaning, but at your next stop to pick up Fluffy from the groomer, you find your wallet is missing. Before this nightmare happens, know there are a few easy steps to help you minimize the loss–all in this Financial Strategy.
If you are interested in starting your own business, there are several professionals that you should consult along the way so that you can focus your time and efforts on what you do best. For more information on working for yourself by starting your own business, read this C.P.A. Insight.
As part of 2009’s stimulus package, the federal tax withholding tables were adjusted. However, these adjustments created an underlying issue of potentially underpaying federal income taxes. While the IRS attempted to readjust and reissue withholding tables, some taxpayers may still be affected. For more information on how these changes may affect you, read this C.P.A. Insight.,/p>
We offer a few simple rules to “recession proof” your portfolio; however, the rules should be followed in both good and bad markets.
Fixed annuities offer tax deferred growth and guaranteed retirement income. However an investor may be sacrificing too much return for the safety of the annuity. If you have an old fixed annuity in your portfolio, read this Insurance Know-How for ways you can maximize the benefits of your investment