Most Houstonians like to stash away our tax forms as soon as we file our taxes, but that’s a mistake. When it comes to making financial decisions, you want to arm yourself with as much information as possible. One often overlooked source is your Form 1040, advises CNBC in “Use…
We’ve been so inundated with the idea of tax-free investment accounts that the taxable investment account’s role in retirement planning is underutilized and overlooked. If you’re like most Americans, you’ve got at least one and maybe a few retirement accounts. You like the tax benefits that come from having IRA's,…
If you are working after 70 ½, there are still ways to save money tax-free. Wage earners are not permitted to put money into a traditional IRA in the year they turn 70 ½ according to the Kiplinger article, “Tax-Smart Ways to Save When You're Too Old for a Traditional…
While the number of people making New Year’s financial resolutions are on the rise, we would do well to make a midyear financial check a regular part of the summer season. The good news is more than 30% of Americans did give some thought to making financial resolutions this past…
Whether on the evening news or a serial drama, we love to watch the inner workings of family businesses—in large part because of the drama and the high likelihood of failure. The narrative of family dynasties is intriguing. According to the Yakima Herald in "Passing the baton: 6 challenges for…
Let's continue addressing a series of money decisions from Forbes' "10 Financial Choices You'll Regret in 10 Years," regarding financial choices we make in the earlier part of our lives that are surprisingly important—but we don't always see how important they are until it is too late. Here are the…
The last thing most new parents are thinking about is taxes, but the addition of a new baby to your family has some nice tax perks, according to "The Most-Overlooked Tax Breaks for New Parents" from Kiplinger's. First step: make sure your new addition has a Social Security number. You'll…
Keeping your financial house in order is not that complicated, according to the national newspaper USA Today in "Drowning in bank statements, etc.? Here's what you can toss." There are three overarching tasks: pay bills on time, file taxes and save more. Getting organized is the best way to start,…
New Year's resolutions are a favorite tradition. But have you taken care of your end-of-year tasks concerning your finances. There's still time to finish off your 2015 list! US News reminds us in "6 Financial Tasks You Need to Complete Before the End of the Year" that there are several…
The IRS enacted a new law that required any estates filing Form 706 after July 31, 2015 to report the value of the estate within 30 days after filing the estate form. However, the IRS never issued any implementing regulations for the law. As a result, the IRS has recently…