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A 60/40 Portfolio Can Be Hazardous to Your Financial Health
Retirement PlanningFor the last several decades, conventional wisdom in the financial services industry has been that a prudent way to invest money, one that will provide sufficient yield and a hedge against downside risk, is to use a mix of 60% stocks and 40% bonds. ...
The Reality of Self-Employment Taxes for 2021
Tax PlanningWhat happens when lawmakers enact a new tax? It starts small. It looks easy. In 1935, the self-employment tax topped out at $60. Those 1935 lawmakers must be twirling in their graves with the new rules for 2021, which levy the following taxes: A...
11 Financial Tips to Make Caregiving Easier
Estate PlanningCaregivers generally tend to their elderly/disabled family members as a labor of love, but it can also be taxing for them financially and otherwise. These 11 tips can help you manage the financial side of caregiving and keep things under...
Emergency Funds
How much should you have in your rainy day fund?You May Also Like...
Cybersecurity Monthly Newsletter July 2021
Asset ProtectionIn this issue: Avoid Ransomware Catastrophe with the Rule of Three Cybersecurity Shorts Software Updates Welcome to your July Savvy Cybersecurity newsletter. This month we'll be talking about ransomware. Read on for more information on that, as well...
Hire Your Kids to Work In Your LLC or Sole Proprietorship and Put a Huge Chunk of Their Pay Back in Your Pocket
Tax PlanningBradford Tax InstituteEstimated tax tip savings. Pay your child $8,000, for example, to work in your LLC or sole proprietorship and you could save $3,042. Your exact savings will vary depending on your tax bracket and several other factors. Children are...
Creating More Business Meal Tax Deductions After the TCJA
Tax PlanningBradford Tax InstituteHere’s good news for business meals: the Tax Cuts and Jobs Act (TCJA) removed the “directly related and associated with” requirements from business meals. The net effect of this change is to subject business meals once again to the...
When the Second Office In a Home is a Principal Place of Business
Tax PlanningBradford Tax InstituteWhen possible, you want to claim that your office in your home qualifies as a principal place of business, because this classification: gives you the home-office deduction, and eliminates commuting from your home to your regular...
How to Deduct the Costs of Thinking about Starting a New Business
Tax PlanningBradford Tax InstituteAre you thinking about starting a new business? If so, congratulations. We know it can, and probably will, be an exciting ride. But like many other exciting rides starting or buying your own business can be fraught with dangers, not...
Are You Cheating Yourself by Using IRS Mileage Rates?
Tax PlanningBradford Tax InstituteAre you using IRS mileage rates for your business vehicle? I have a new tool that can tell us whether the mileage rates are a good deal for your taxes. With this tool, I look at the entire life of your vehicle, including any gain or...
Tax-Deductible Business Expansion Beats Capitalization
Tax PlanningBradford Tax InstituteTax deductions put cash in your pocket and make you smile. Capitalized business acquisition expenses don't make you smile because they generally produce no tax cash benefit until you get out of the business, if ever. And then that...
Know These Four Magic Business Mileage Rules
Tax PlanningBradford Tax InstituteWhen you know the rules related to business mileage, you: protect yourself in the event of an IRS audit, and pay less tax. Take Henry, for example. Before he knew the mileage rules, he deducted 30 percent of his SUV's cost. Once he...
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Get Ready for 7 Serious Life Transitions Ahead
Retirement PlanningMost baby boomers will face...
5 Questions to Ask Yourself 5 Years Before You Retire
Retirement PlanningRetirement planning takes on...
Birthday Milestones Present Special Tax and Investment Questions to Consider
Key BirthdaysLet’s make sure that all of us...
8 Reasons Not To Do a Roth Conversion
Tax PlanningThe Roth IRA is an incredibly...
Dogecoin – Meme Currency
Dogecoin is having a moment, fueled by a loud...
Key Changes to the Tax Cuts & Jobs Act
Tax PlanningWhile the New Tax Cuts and Jobs Act...
Key Planning & Investment Deadlines Spring 2021
Financial GuidesFor this reason, I want to share...
Investment Advisor vs Broker
Before you seek investment advice it's good to...
2020 Portfolio Review and Market Update
Retirement Planning As an Independent Fiduciary...
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