How families making $75,000 can get hit with AMT
There was a very good article on the AMT tax this morning on CNN Money’s website. It basically talks about how the AMT is supposed to keep the rich from paying too little tax, but since the AMT rules have never been adjusted, it’s middle income Americans who are facing the AMT. I agree that […]
Coping with market fluctuations
You’re probably aware that the stock market fell 400 points last week. How did you handle the drop? Did you panic and sell, or did you hold tight? Market cycles are normal and should be expected. You shouldn’t allow your emotions to influence your investing decisions. Remember these important points when making investment decisions: Diversify […]
Several tax law changes not included on 2006 forms
Be careful if you are preparing your own tax return this year; there are several tax deductions, credits and other provisions that are NOT listed on the tax forms. The Tax Relief and Health Care Act of 2006 was passed in December 2006, after the IRS completed and printed the tax forms for 2006. Fortunately, […]
172 investing classes at Morningstar
I am frequently asked for good resources to learn more about investing. Morningstar.com is one of my favorite resources to learn more about investing. The Morningstar Classroom offers over 172 courses on investing. Topics cover stocks, bonds, mutual funds and portfolio management. The classes are free and start from a basic learning level and progress […]
Can you deduct your home office?
Do you have a home office? Do you know if it qualifies for the home office deduction? The IRS has actually relaxed it’s position on home office in the last few years, so you may qualify, even if you didn’t previously. To qualify for the home office deduction, your home office must: Be your principal […]
Where to keep your emergency fund
In the last few weeks, I’ve talked about why you should have an emergency fund, and how much you should have. Today I want to talk about where to keep your emergency fund. If you’ve followed the guidelines (3 to 6 months of living expenses, or $1,000 if you’re working on a ‘baby’ emergency fund), […]