Archive - December 29, 2010

1
3 Financial New Years Resolutions Everyone Should Make
2
See If You Must Wait to File Your Taxes
3
3 Key Steps To Financial Success
4
How To Build Greater Wealth By Saving On Taxes
5
Understanding The One Rollover Per Year Rule

3 Financial New Years Resolutions Everyone Should Make

It is that time of the year again to make your New Year’s resolutions! Each year most people decide on a number of changes to make for the coming year. How about including your financial life in this year’s resolutions. Let’s take a look at some ideas.

Investigate 401k Employer Matching Contributions: Most 401k plans provide for employer matching contributions. The match consists of the employer contributing a certain dollar amount to your 401k account based on the dollar amount you contribute. For example, your 401k plan has a dollar for dollar employer match up to $1500. For every dollar …

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See If You Must Wait to File Your Taxes

Toward the end of this year, the IRS began warning Congress that last-minute changes to the tax laws could result in delays for taxpayers. Since the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 did not come into being until Dec. 17, the IRS has announced that many taxpayers will have to wait until mid-to-late February 2011 before they can their 2010 Federal returns. Anyone who needs to file Schedule A will have to wait, as will taxpayers claiming various other deductions and credits.

The delay affects those who file on paper as well as e-filers; the …

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3 Key Steps To Financial Success

This is an investment strategy that works, all it takes is a good plan and discipline.

Simply Put:
Saving is the process of reserving a portion of current income for future use. Investing is putting those savings to work to increase wealth. Diversifying and rebalancing are investment strategies meant to increase the likelihood of success.

Not So Simply Done:
Most people understand saving. Investing is a much more complicated process which tends to produce feelings of fear and inadequacy in many people. With good reason – over the last 10 years we experienced two market meltdowns and in result, a …

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How To Build Greater Wealth By Saving On Taxes

Saving money on taxes is an easy step to build wealth immediately. You must be aware of tax law changes though in order to take action on opportunities that arise. Last minute legislation was passed to extend the Bush-Era tax cuts for a short period of time. The new law is called the Tax Relief, Unemployment Insurance Re-authorization and Job Creation Act of 2010.  I have been studying this extensive legislation and thought I would pass on some highlights below of the law that will affect most of you:

  • Two year extension of the tax rates
  • Two year extension of
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Understanding The One Rollover Per Year Rule

This particular rule is one that can really cause you a lot of problems – and there’s no reason to run into problems with it, if you plan ahead and do things right.

One of the big reasons why this rule can cause so much heartache is because there is no way, procedurally, for the IRS to grant an exception, no matter what the circumstances are.  For example, in the 60-day-rollover rule, often the IRS may be in a position to grant an exception, especially if something awful happened to make you miss the deadline.  This sort of exception is …

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