How It Went with My New...

A few months ago I told you that I had hired a new CPA to do my taxes . Now that the tax season is over and the dust has settled, I thought I’d list the pros and cons of working with the new firm. Let’s start with the pros: They were much more involved in tax planning. While...

Reader Profile: MP...

The following is the latest post in my “Reader Profiles” series. Each post in this series details the financial situation and challenges of an FMF reader. The purpose of this series is to help us all identify with people like us (in similar situations — not all will be,...

Roth IRA Conversion 201...

The following is a guest post from Marotta Wealth Management . A tax tsunami is coming at the end of this year. And this is the absolutely last chance for a massive Roth conversion. Two years ago the Bush tax cuts were extended for two years. But the snooze button is running out, and...

Financial Planning Guid...

In addition to having been a professional or semi-professional musician throughout my entire adult life, I’ve also served as a life insurance advisor and retirement planner for other musicians. Unfortunately, I have found that most musicians are not very savvy at financial...

10 Reasons Why You Shou...

For many students, going away to college is the first time that they will live away from their parents or hometown. University life affords freedom, independence, and an opportunity to gain life skills that will be used throughout life. However, while this is certainly a major event,...

The Lack of American Ge...

Money Magazine shared the average deductions for charitable giving by adjusted gross income in its December issue. Here are the results: Adjusted Gross Income: $50,000 – $100,000; Average Charitable Deduction: $2,700 Adjusted Gross Income: $100,000 – $200,000; Average...

Reader Profile: MS...

The following is the latest post in my “Reader Profiles” series. Each post in this series details the financial situation and challenges of an FMF reader. The purpose of this series is to help us all identify with people like us (in similar situations — not all will be,...

What Is the Fair Tax Ac...

After the first time trying to prepare and file personal taxes, most Americans learn the same lesson: The American tax system is complex and difficult to understand. Many people also feel that corporations, wealthy individuals and families, and special interest groups have unfair access...

Reader Profile: TJ...

The following is the latest post in my “Reader Profiles” series. Each post in this series details the financial situation and challenges of an FMF reader. The purpose of this series is to help us all identify with people like us (in similar situations — not all will be,...

Investment Expense Tax ...

If you have investments, such as stocks or mutual funds, you might be missing out on a commonly overlooked tax deduction. When you itemize, you can add investment fees and expenses to your miscellaneous deductions down at the bottom of Schedule A (line 23). You can only deduct...