Archive - January 12, 2012

1
Why Your Emotions Could Be Your Worst Enemy When Investing
2
Here’s How You Know if You Need to File a Tax Return This Year
3
Here’s the Right Way to File Your 1099s

Why Your Emotions Could Be Your Worst Enemy When Investing

Emotions trump smarts

Making good financial decisions can be difficult, even for very smart people. One reason is that most people make decisions based in large part on their own biases and the emotions they are experiencing at the time rather than analyzing the facts. In other words, their choices are based more on what they are feeling rather than what they know. However most decisions, especially financial ones based on emotions, often turn out to be the wrong ones.

The difference between theory and practice

Conventional financial theory assumes that people make financial decisions based upon rational rather …

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Here’s How You Know if You Need to File a Tax Return This Year

Have you ever wondered if it was actually necessary to file a tax return?  Perhaps your income is relatively low, and so you wonder if it’s really required of you to file a return.

Often it’s not entirely a case of a return being required, but rather it might be in your best interest to file a return in order to receive certain credits against your income.  Recently the IRS issued their TAX TIP 2012-02 which goes over some of the things you need to be aware of when considering if it’s necessary or in your best interest to file …

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Here’s the Right Way to File Your 1099s

Happy Happy Joy Joy….Happy Happy Joy Joy! Stick a hot poker in my eye, and you’ll understand my feelings about the reporting requirements for small business owners and the 1099. While I understand the concept and reasons for this reporting requirement, it’s simply a pain. Ok, I’ll get of my soapbox, stop complaining, and deliver the lowdown.

If you are a small business owner and pay an individual or business more than $600 in a year, you (the business owner) will need to send that business or individual a 1099. This reporting requirement is put in place to allow the …

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