This Father’s Day is a particularly poignant one for me. I lost my Dad in March, and his absence feels especially acute as we approach Father’s Day. Our Father’s Day is always a time to fire up the grill, tell stories, and perhaps have one or more adult beverages. This year, there will be no…
The answer? ABSOLUTELY! Many parents start thinking about summer jobs for their older children when summer rolls around. But it’s not just about earning money—it’s about making intelligent decisions to benefit you and your children. Let’s break down key considerations and opportunities when it comes to making those summer earnings: 1. Understanding Employee vs. Contractor…
Fear not if you’ve found yourself hitting the income limits for direct Roth IRA contributions. The Backdoor Roth IRA might be your ticket to tax-advantaged growth. In this step-by-step guide, we’ll walk you through the process, from laying the groundwork with a traditional IRA to navigating the conversion to a Roth. Plus, we’ll highlight key…
What about a Backdoor Roth?? First, let’s clear up the misconception about a ROTH IRA. You can make a ROTH IRA contribution even if you make too much money! HOW? Many people make too much money to contribute to Roth IRAs, but here’s a way to sneak in the back door anyway. How about a Backdoor…
In his escapades and adventures, James Bond may have used many tricks to escape death. However, even James Bond would have needed documentation to deduct the cost of his Aston Martin. Court nixes most auto deductions: In the summary judgment issued by a Tax Court Judge, he ruled that the owner of a Long Beach, California-based `…
As we grow older, the parent/child roles often reverse, and we find ourselves caring for the very parents who once cared for us. That reversal has happened to myself and my parents, specifically my Dad. This past weekend, I experienced the struggle to access and coordinate my Dad’s ongoing care through Medicare. I am sharing…