7 of the Biggest Mistakes People Make When Choosing a Financial Advisor

Choosing a financial advisor is a big decision.

Being aware of these seven common blunders when choosing an advisor can help you find peace of mind, and avoid years of stress.

1. Hiring the First Advisor You Meet

While it’s tempting to hire the advisor closest to home or the first advisor in the yellow pages, this decision requires more time. Take the time to interview at least a few advisors before picking the best match for you.  Read More

The ULTIMATE Guide to Investment Accounts

Ready to open an investment account and start building for your future?

Congratulations!

Now that this important decision is made, however, you may feel overwhelmed as to what kind of investment account you need, where to open it, and what exactly you’ll put in it. Bottom Up Wealth to the rescue!

When you begin to invest, retirement always comes first. No ifs, ands or buts!

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Increase Your Green in 2019 with Some of the Top Tax Deductions and Credits

NEW YORK–(BUSINESS WIRE)– St. Patrick’s Day is the holiday of all things green, but how can you increase your chances of having more green to line your pockets? When preparing taxes, both deductions and tax credits can make a significant impact in reducing or offsetting taxes owed. Wolters Kluwer Tax & Accounting outlines the top dozen tax deductions and credits to maximize your tax refund.

“Taxpayers who take the time to research their options may find that they qualify for more tax deductions or credits than they thought,” said Mark Luscombe, JD, LL.M, CPA and Principal Federal Tax Analyst for Wolters Kluwer Tax & Accounting. “If you think there’s even a slight chance that you may or may not be eligible for a specific benefit, it’s a good idea to consult with a tax professional who can add clarity and identify other potential tax breaks for you on your 2018 tax return.” Read More

What Is the Meaning of Business Finance?

While accounting tracks and organizes your company’s financial information, business finance uses this information to help you manage your money and make your operation more profitable. Business finance includes reading financial statements and connecting the dots between your profit and loss, balance sheet and cash flow statements. If these documents point to a shortage of capital, business finance also provides the tools to plan strategies for bridging the gap. Read More

The 7 Best Tax Software Programs of 2019

The average cost of hiring a professional to prepare your tax return is about $275, at least if you have anything other than the simplest tax situation. That’s a lot of money to part with and it’s often unnecessary.

You can save yourself some money if you identify your tax-time priorities in advance and find software that will address them for you. Some programs are pricier than others, but they’re still generally cheaper than hiring a professional, and you’ll spare yourself having to cram all those tax documents into your briefcase or a box and head off to your accountant’s office. Read More

The New 2018 Form 1040

Along with tax reform changes from the Tax Cuts and Jobs Act (TCJA), taxpayers also have a new Form 1040 to grapple with for the 2018 tax year. The IRS introduced the concept of a whole new 1040 tax form early in 2018 on the heels of the Tax Cuts and Jobs Act which went into effect on January 1, 2018. Overall the new form is easier for simple filings and much shorter. However, taxpayers with somewhat complex filings will find a number of new changes and necessary addendums. Read More

Tax Law-Guide to Taxation Law

What is Tax law? It covers the rules, policies and laws that oversee the tax process, which involves charges on estates, transactions, property, income, licenses and more by the government. Taxation also includes duties on imports from foreign countries and all compulsory levies imposed by the government upon individuals for benefit of the state.

The intricate body of tax law covers payment of taxes to a minimum of four levels of government, either directly or indirectly. Indirect taxes are assessed against products and services that are meant to be consumed, but are paid to an intermediary. For example, when you buy coffee at a local corner store, the retailer charges you tax on your coffee, which he/she subsequently pays to the government. Direct taxes are those you pay directly to the government and are imposed against things like land or real property, personal property, and income. Read More