Unless you file for an extension, your 2025 Income Tax Return is due on April 15, 2026. And, if you are getting a refund, you want to file as soon as you can. We wrote about this earlier with our 7 Practical Steps to File Your 2025 Income Tax Return. The Internal Revenue Service (IRS)… Continue Reading: 3 Practical Things to Do with Your Tax Refund
Here are 3 Practical Reasons for your coming Social Security haircut. Short History of Social Security The government formed the Social Security System in 1935. Monthly benefits began in 1940. As part of President Franklin Delano Roosevelt’s New Deal during the Great Depression, this initiative aimed to provide economic relief and reform. In 1950, a… Continue Reading: 3 Practical Reasons for Your Coming Social Security Haircut
Determine Roth IRA Eligibility Investors with earned income may be able to contribute to a Roth IRA. For 2025, the maximum Roth IRA contribution is $7,000. If you are aged 50 or older, you can make an additional $1,000 catchup contribution. For 2026, the maximum Roth IRA contribution is $7,500. And in 2026 for those… Continue Reading: Practical Steps to Fund a Backdoor Roth IRA Conversion
In my opinion, many investors will need to open a Roth IRA for their retirement. Here are 3 reasons why. 1) To Fund Your Retirement Sorry to state the obvious. If you do not realize this already: You are on your own with your retirement. Let that sink in. You (likely) will not be getting… Continue Reading: 3 Easy Reasons to Open a Roth IRA
Here is what you need to know to understand the math of the stock market now. Price Earnings Ratio One ratio that all Average Joe’s should be familiar with is the Price Earnings (P/E) Ratio. It is one of the more common measurements of valuation. This ratio takes the price of a stock and divides… Continue Reading: What You Need to Know to Understand the Math of the Stock Market Now
Although I am no longer a practicing CPA, here are 7 Practical Steps to File Your 2025 Tax Return. And if you are looking for more financial guidance, do not miss the 6 Easy Ways a Financial Advisor Can Add Value. 1)Expect Delays with the IRS The IRS, like many other government agencies, has its… Continue Reading: 7 Practical Steps to File Your 2025 Tax Return
Diet and exercise, that’s what my doctor tells me after my annual physical exam: Every. Single. Time. When I press him on this, he offers a deeper insight – something like “portion control.” Seriously? Who would have thought? It sounds incredibly straightforward. But is it really that easy to put into practice? It may be… Continue Reading: Everyone Knows You Need to Diet and Exercise
I took a statistics class back in college. Like many of my other subjects, I did not do that well in it. I did, however, gain a deeper understanding of what average meant and continue to aspire to get up there someday. Here are Clear Reasons You Need to Carefully Review Government Statistics. The United… Continue Reading: Clear Reasons You Need to Carefully Review Government Statistics
We were recently visiting friends down south. They live in a beautiful community that has a Homeowners Association (HOA). Their neighbor had something odd in their yard, a batting cage. Our friends called the manager that runs the HOA to inquire about this. All they were doing was inquiring. The manager indicated that, as they… Continue Reading: Why Getting Old is the New Normal
3 Simple Reasons You Need to Fund a Donor Advised Fund (DAF) in 2025 A Donor Advised Fund (DAF) is a tool that allows you to contribute to a fund and get an income tax deduction in that year. Speaking of tax deductions, it reminds me that, “I Love Paying Income Tax.” Said No One… Continue Reading: 3 Simple Reasons You Need to Fund a Donor Advised Fund in 2025