Minnesota Trust Laws Receive Needed Revisions
Minnesota finally has a new set of trust laws; 25 years after the laws were last updated. The new bill had to pass through both houses of state legislature before it was ratified by Governor Mark...
View ArticleStudent Loan Strategy
With the fall semester quickly approaching, more and more families are worrying about the financial crunch of college. Plenty of student aid is available, but it is often difficult to decide which type...
View ArticleA CFO’s Contribution to Your Business
A recent article detailed the four most common things CFO’s address when they start at a new company. While many people believe that every owner and company are different, financial officers state that...
View ArticleTax Returns: Self-Prepared or Professionally Completed?
With the numerous tax preparation software products currently available, is it truly beneficial to hire a CPA or professional tax preparer to complete your taxes when you could do them yourself?...
View ArticleYour College Fund Should Include a Roth IRA:
As we approach “back to school” season, there are a plethora of ways to fund a student’s college journey. Financial aid, grants, scholarships, subsidized loans, 529 plans and numerous other options...
View ArticleMid-Life Financial Strategies:
Between age 45-55, employees are usually earning the most of any point in their lives. However, despite the feeling of monetary security, it is crucial to have solid mid-life financial strategies....
View ArticleWho’s Who When Dealing with the IRS.
When dealing with the IRS, it can seem challenging to determine who you are corresponding with and what powers they have. However, for the normal taxpayer, it is remarkably simple. Taxpayers will...
View ArticleBreak-Even Basics:
Break-even, (the point at which your business will achieve zero gain or loss) is a foundational topic in finance and accounting. This point can be expressed in dollars or units. Break-even analysis is...
View ArticleIs a Roth Account Right for You?
Over the last decade, the total number of households with Roth IRAs has increased by 47%. This rapid growth clearly shows the value of these plans. But why exactly are people so thrilled about Roth...
View ArticleCommon 529 Plan Mistakes
As taxpayers work to fund college for their children, 529 plans can provide great benefits. These types of accounts are very easy to contribute too. However, parents who are not prepared may find it...
View ArticleSocial Security and Medicare Part B
In 2016, it is unlikely that Social Security “cost of living” benefits will increase. Conversely, there is a high probability that Medicare Part B premiums will increase steeply in for the same year....
View ArticleWhen to start saving for Retirement
The Importance of Saving for Retirement at a Young Age If you’re an adult in your 20s, you are entering an exciting stage of life. Whether you’ve just graduated from college or are starting a new...
View ArticleWhat is the Net Investment Income Tax
Understanding the Net Investment Income Tax It’s been around since 2013, but many are still struggling to come to grips with the net investment income tax. The 3.8% tax, which is sometimes referred to...
View ArticleChild’s First House
Loaning a down payment on a house? For a lot of young people today, it’s difficult to purchase a home without at least some financial assistance. As a result, many young adults turn to their parents or...
View ArticleBuying a fixer upper?
What to Know About Buying a Fixer-Upper Buying a fixer-upper property has become popularized thanks to home improvement shows. But buying a fixer-upper–either to keep or resell–isn’t just for TV. Why...
View ArticleWorking from home
Imagine that your employer gives you the choice between either working from home or commuting to the office throughout your work week. You might think the obvious choice is to work from the comfort of...
View ArticlePrivate Mortgage Insurance
How long will I have to pay for private mortgage insurance? It depends. There are generally two ways that private mortgage insurance (PMI) can be removed from your mortgage loan. The first is if you...
View ArticleDisasters and Financial Planning
The AICPA Disaters and Financial Planning Guide DisastersandFinancialPlanningGuide The post Disasters and Financial Planning appeared first on Rapacki.
View ArticleTax Cuts and Jobs Act and Life Insurance Policies
A doubled estate tax exemption makes life insurance policies less necessary, while more favorable basis rules decrease gain on their sale. The law known as the Tax Cuts and Jobs Act (TCJA for short),...
View ArticleID Theft Prevention
According to a recent survey, nearly half of Americans say ID theft is likely to cause them financial loss in the next year. Here are some tips to help you prevent and mitigate the effects of identity...
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