Money Advice

Does your teen have a summer job? This is the best savings tool

Posted by The Simply Money Advisors Team on Jun 13, 2018 3:00:00 PM

Every summer, teenagers around the Tri-State experience the rite of passage known as ‘working a summer job.’ And while all that extra cash can come in handy for gas money or buying the latest and greatest smartphone, we hope they’re saving some as well – and saving it in the right place.

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Topics: Financial Planning, Taxes

What to know about filing a tax extension

Posted by The Simply Money Advisors Team on Apr 11, 2018 12:30:00 PM

The tax deadline is less than a week away! If you’re busy scrambling to put together your return and don’t think you’ll have it done in time, you can always file a six-month extension. Here’s what to keep in mind.

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Topics: Taxes

The awesome benefits of a Roth IRA

Posted by The Simply Money Advisors Team on Mar 28, 2018 3:00:00 PM

Did you realize that with a traditional 401(k) or IRA you have to pay taxes on your withdrawals once you hit retirement?

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Topics: Investing, Taxes

How to make the most of your tax refund

Posted by The Simply Money Advisors Team on Mar 21, 2018 1:04:42 PM

Ready to use your tax refund to splurge on a lavish vacation or a new wardrobe?

You may want to reconsider!

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Topics: Taxes

How disorganization can cost you during tax time

Posted by The Simply Money Advisors Team on Feb 21, 2018 1:31:52 PM

During tax time, do you frantically rummage through your documents to find everything you need, or think you’ll need? It’s easy to just throw pieces of paper in different places around the house, like W-2s in a closet and 1099s in a drawer.

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Topics: Taxes

Yes, corporations are the big tax reform winners. But don't get mad, get even.

Posted by The Simply Money Advisors Team on Dec 21, 2017 9:06:11 AM

The Senate and House have officially voted to change the U.S. tax code, something that hasn’t been accomplished in more than 30 years. Generally speaking, corporations will be getting a permanent tax cut, and you, as an individual, will be getting a temporary tax cut.

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Topics: Investing, Taxes

7 of the weirdest tax deductions

Posted by The Simply Money Advisors Team on Dec 20, 2017 4:00:00 PM

It may be December, but in reality, tax time is right around the corner. Whether you like to do your taxes as soon as you receive your documents or procrastinate until the last minute, it may be good to know when you may be missing out on certain tax breaks.

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Topics: Taxes

Tax reform gets the green light; on to the President next

Posted by The Simply Money Advisors Team on Dec 20, 2017 1:17:03 PM

More than 30 years after tax reform last passed through Congress, the House and Senate have officially passed their ‘reconciled’ tax reform bill. It’s now on to President Trump’s desk to officially become law.

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Topics: Taxes

Good news for corporate earnings and your investment mix

Posted by The Simply Money Advisors Team on Dec 18, 2017 12:17:47 PM

It appears tax reform will be voted on this week after a committee produced legislation that combined the different versions from the Senate and House. It's expected that President Trump will sign the bill into law once it’s approved by both chambers.

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Topics: Taxes

Senate passes tax reform, but more steps lie ahead

Posted by The Simply Money Advisors Team on Dec 4, 2017 1:02:34 PM

The Senate worked overtime over the weekend to pass its version of tax reform by a razor thin margin of 51 to 49 votes. This puts the U.S. much closer to seeing tax reform passed, possibly in 2017.

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Topics: Economy, Taxes

Disclaimer

Please remember that past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Simply Money Advisors), or any non-investment related content, made reference to directly or indirectly will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, this content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained here serves as the receipt of, or as a substitute for, personalized investment advice from Simply Money Advisors. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Simply Money Advisors is neither a law firm, a certified public accounting firm, nor a tax advisory firm and no portion of the blog content should be construed as legal, accounting, or tax advice. Please consult your own attorney, accountant, and tax advisor for legal, accounting, and tax advice. A copy of the Simply Money Advisors’ current written disclosure statement discussing our advisory services and fees is available for review upon request. Advisory services offered through Simply Money Advisors, a SEC registered investment adviser. Insurance services are offered through Simply Money Insurance Agency, a separate entity from Simply Money Advisors. Simply Money™ and the spiral symbol are trademarks of Simply Money IP Holdings, LLC.

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