Personal finance tips from a CPA, money saving advice, tax advice
The last thing on the mind of most kids and teenagers is saving for retirement, but opening a Roth IRA while you're still a student is a great financial strategy. Roth IRAs can be used to save for various other life events other than retirement. They can be used for higher education costs, saving for a down-payment and the purchase of a first home, and can also be used to pay certain medical bills and health insurance premiums when certain conditions apply. In this simple guide to Roth IRAs for kids and teens we'll discuss what is a Roth IRA and if it is right for you or your teenager,…
The Organic Dillema: Most of us would like to green up our lives to some extent, after all, we all know there is no planet B. But a trip to the produce aisle at the grocery store might have you second-guessing those ideas. You want to buy those organic grapes but wow $3.99 a pound versus $2.99 a pound for the non-organic grapes. You look over your shoulder, no one is watching, and guiltily slip those non-organic grapes into your cart and make your getaway. It doesn’t have to be this way. With a change in a few habits at home, you can buy those organic grapes and whatever other…
Congratulations bloggers and side hustlers, you have your first year of blogging or business operations under your belt. And now the worst part is facing you squarely: Income taxes, what do you have to do? No worries, while not blogging, I'm a licensed CPA so taxes are MY forte, and this post is for you! I'm going to answer the questions I hear most frequently in my practice and provide small business tax tips that should make this task just a little easier and I also will dispel some fallacies that I've seen circulating around the internet.
Where should you stash your down payment savings? That's a very good question. You want to see it grow not stagnate in a bank account earning a dismal interest rate of less than 1%. But on the other hand you can't afford to lose your the stash you've so steadfastly saved. Is investing in stocks too risky? If all your eggs are in this one basket your dreams of home ownership could plummet right along with the market, should it crash.