GoFundMe was created as a platform for individuals to bank roll their personal causes. Although there are several other crowdfunding platforms out there, they focus more on funding for the creation of a business entity or a tangible product. Unlike its predecessors, GoFundMe focused on making financing available for personal needs, such as medical expenses
IRA and 401(k) Contribution Limits for 2021
More taxpayers will qualify for retirement tax breaks in 2021, but the contribution limits for IRAs, 401(k)s, and other retirement accounts won’t go up for next year. Employees who are saving for retirement through 401(k)s, 403(b)s, most 457 plans, can contribute up to $19,500 to those plans during the year. Unfortunately, that’s the same contribution limit
Perspectives And Perceptions Of Women and Investing
Women are more vulnerable and less prepared for retirement than their male counterparts. Why are they at risk? Consider these sobering *statistics: • A woman with a bachelor’s degree has just 60% of the estimated lifetime earnings of her male counterpart. • Annual Social Security benefits collected by a 65-year-old woman are 20% less than
Cash Balance Plans Maximize Retirement Contributions And Tax Deductions
The 4th quarter is the time to be thinking about what the next year’s tax bill might look like. It is getting harder for professionals and small business owners to minimize tax liability with itemized deductions for state and local taxes and mortgage interest deductions being whittled down. Could an additional pension deduction help you?
Paid Family Leave Is Taxable
The New York State Department of Taxation and Finance provided guidance regarding the tax treatment of deductions from employee wages used to finance paid family leave premiums, and the tax treatment of Paid Family Leave (PFL) benefits to be received by eligible employees. Background: Paid Family Leave Benefits, available to employees as of January 1, 2018,
Growth From Tax Efficient Wealth Building Costs You Less
You’re better off when your money works for you instead of the other way around! That’s usually the result when you are investing according to a well-constructed financial plan. Not only do sound investments grow over the years, from a tax perspective that growth tends to cost you less. Here’s why: • The miracle of
Estate Planning With 2021 Vision
You can’t predict the political future but you can plan for it! Here are some estate planning ideas for consideration based on uncertainty as to what proposed income tax law changes might be in 2021 and beyond. Keep in mind that due to fluctuating political winds there are also proposals on the table related to
Are You A Financial Procrastinator In Search Of Investment Perfection
Time waiting for the perfect portfolio can cost you……. Searching for the ideal set of circumstances (which never seem to materialize) can prevent you from doing the important investment planning that is necessary for your financial health. So can waiting for that promotion at work, or letting the tax tail wag the investment dog. Are
Rebalancing Your Pandemic Portfolio
Portfolio rebalancing according to your age and goals is really all about asset allocation. At different stages in your life your financial concerns shift, and so you look for your investment portfolio to shift too – from growth to income – as you get older. During these pandemic times, with market volatility, your risk tolerance
Will Crypto Be Your Kryptonite
A new Twitter poll finds that 72% of bitcoin investors are bullish about the cryptocurrency and will hold onto it even if the price somehow falls to zero. Cryptocurrencies like Bitcoin and Ethereum are no longer considered “niche” or experimental, but are now widely developed and accepted alternatives to traditional currency. Many large companies are
