Who Can Establish an HSA? Any individual with a high deductible health insurance plan can establish an HSA. In 2015, you have to have an annual deductible of at least $1,300 for an individual or $2,600 for a family. Your plan must also limit your annual out of pocket expenses to $6,450 for individuals [...]
As the year comes to a close, it is important to look at the options that are still available to help you reduce your tax liability. This article will help give you a few ideas about tax planning strategies you can implement before the end of the year. Withholding One of the simplest ways [...]
Unfortunately, nursing home care is a reality that many of us have to face; either dealing with it for a loved one, or for ourselves, which is why it is vital to find the right home care packages for the situation. It can get very expensive, very quickly. Generally speaking, there are three ways [...]
On November 2, 2015 President Obama signed the Bipartisan Budget Act of 2015. This act brought into effect changes that eliminated the ability to use popular strategies that allowed retirees to boost their social security income. This article will provide you with an overview of how the new rules might affect you. As well [...]
The filing status you choose can have a large impact on your tax liability, either for good or bad. So it is important that you understand each of the filing statuses, as well as the advantages and disadvantages that they may present to your income tax situation. Income Tax Filing Statuses Which income filing [...]
Whether it is your desire to retire early, save for your children to attend college, or save up for purchasing a new home, the key to your success is having financial and investment goals in place. These goals will help you to stay on track and guide the decision that you make. What factors [...]
Fundamentals of Life Insurance Life insurance is a common component of most everyone’s financial plan. It can serve many helpful purposes such as; replacing lost income in the event of your death, paying any debts you leave behind (such as mortgages, car loans or credit card debts), paying for your final expenses or estate [...]
Investment Tax Planning When you have investments you want to take advantage of all the tax rules you can so as to maximize your gains. This usually means combining several different types of investments that have different tax advantages and disadvantages, so as to balance each other out. This process is referred to as [...]
Estate Planning Awareness Estate planning is a vital step that most adults need to take. Unfortunately, many overlook it. They think they have plenty of time to complete one in the future, or that their estate is not large enough to need one. It is important to note that failing to prepare a proper [...]
Living Trust Basics A living trust is an important estate planning document. There are many different types of trusts, each created for special financial situations. Whether your estate is small or large, there is a living trust that will work for your needs. In this article, we will go over the basics of how [...]
