When you think of people who use financial advisors, you may not consider yourself the right demographic. But it may surprise you that plenty of advisors cater to people who aren’t retired millionaires. There are plenty of reasons for younger people to engage with a financial advisor well before retirement age. If you’re wondering if it’s the right time to speak with a professional about your … [Read more...] about 5 Telltale Signs You Might Need a Financial Advisor
Taxes
6 Creative Considerations Before You File Your 2021 Tax Return This April
Yep, it’s about that time—tax time, of course. The sun’s out a little longer, we shed a few layers, the first blooms of the season are on full display, and taxes are due smack dab in the middle of it all. This year, your 2021 taxes are due on April 18th, 2022. But don’t let this impending annual chore dull your spring fever. This year, let’s make taxes fun! Well, if not fun, at least … [Read more...] about 6 Creative Considerations Before You File Your 2021 Tax Return This April
When Does It Make Sense To Choose “Married Filing Separately” On My Taxes?
Some married couples choose to combine all their finances. Others prefer to keep some or all of their accounts separate. But most of the time, married couples file one joint tax return. You don’t have to do it that way, but it usually means you’ll pay less taxes — though not always. Married Filing Separately tax status allows each spouse to file their own tax return and pay their own taxes based … [Read more...] about When Does It Make Sense To Choose “Married Filing Separately” On My Taxes?
What the CARES Act Means for Individuals and Small Businesses
The CARES Act was signed into law in late March, providing financial assistance for individuals and businesses in these difficult and uncertain times. You may have heard bits and pieces of it mentioned on the news — stimulus checks (which you may or may not be entitled to depending on your household income) and small business loans that can help keep your business afloat. But if you need help, … [Read more...] about What the CARES Act Means for Individuals and Small Businesses
Should I Get a Year-End Tax Projection?
Tax time is looming on the horizon, but you don’t have to wait until those 1099s and W-2s become available early next year to begin planning. A year-end tax projection can help you take stock of the past year and identify ways to maximize your tax situation, retirement savings, charitable contributions, and more before the end of the year. I’m a fan of turning to tax professionals when it … [Read more...] about Should I Get a Year-End Tax Projection?
How to Claim Your Parent as a Dependent on Your Taxes
Older millennials are quickly approaching the sandwich generation phase: taking on greater responsibility for older relatives while also caring for young children. As baby boomers begin to retire, some will need the support of their adult children. In some cases, it may make sense to consider claiming your parent as a dependent on your taxes. There are a lot of rules about this, and … [Read more...] about How to Claim Your Parent as a Dependent on Your Taxes