Archive - 2017

1
An Asset Allocation For Your Health Savings Account
2
What to do When You Owe Taxes
3
Millennials and Estate Planning
4
Axioms for Graduates
5
Taxes: we’re not Europeans

An Asset Allocation For Your Health Savings Account

Health Savings Accounts (HSAs) are one of many types of tax-advantaged accounts. With an HSA, not only do you get a tax deduction when you put the money in, but there is no tax owed when the money is withdrawn and used for qualified medical expenses. Not only are you able to pay for your health care expenses with pre-tax dollars, but you are also able to invest the money in your HSA and watch it grow. This is one of many ways to avoid paying capital gains on stock appreciation.

On account of all of the benefits, …

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What to do When You Owe Taxes

For all your good intentions, you’ve found yourself in a position where you owe taxes to the IRS that you can’t pay right away. All is not lost, there are ways to deal with this situation that can be helpful if you can’t pay. The IRS has several methods you can use to arrange a plan to pay the IRS taxes that you owe over time.

The most important part is to not ignore the situation, you need to take action and make arrangements. If you ignore it, like most things, your situation will only get worse, costing you more …

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Millennials and Estate Planning

Yes, we know many Millennials don’t use paper to make lists but you get the idea–add estate planning to your to-do list.

The media spends a lot of time talking about Millennials. Experts analyze their spending habits, discuss how they will affect the economy, and sometimes chastise them for their financial planning or lack thereof. Earlier this year, NerdWallet decided to talk to this generation, saying, “Millennials, don’t forget estate planning” and noting that it is a mistake to think you can put off estate planning until you are in your 50s or 60s.

You may have heard …

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Axioms for Graduates

As the spring semester comes to end for high school and college graduates, I wanted to perhaps give some unsolicited advice as these newly christened adults start out on their own and begin making life choices and financial decisions that will impact their future.

  1. Resist the temptation to spend everything you make. Instead, do your best to save as much as you can. In fact, it’s possible for a recent college grad to go from making hardly anything during their college years to a decent starting salary. Pay yourself first. Establish an emergency fund of 3 to 6 months of
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Taxes: we’re not Europeans

We don’t want to pay as much tax as the Europeans do. How many times have you heard that? If less than 1,000 times, congratulations—you live without internet service. But, I still retain an old-fashioned interest in verifiable facts, not just what I’d like to be true. I hope one or two readers still feel the same way, so let’s take a look at some numbers on just who pays what taxes, and what those taxes pay for.

The moment you delve into comparing countries, you have to contend with currency conversions, buying power and the cost of necessities (what’s …

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