One common challenge amongst individuals is making the most of every dollar they earn - money management.  Even the most educated persons find themselves struggling with improving their finances.  While there are many reasons for this, one primary cause would be our upbringing (what we were taught about the utilization of money) and habits we have formed over our life span based on what we have witnessed from others we've come into contact with.  This is actually great news because good habits can be re-enforced and bad habits can always be transformed into good ones.

This guide will identify six steps (or new habits) you can take to be on your way to improving your personal finances. Well, let’s get on with it!

One of the main causes of federal income tax troubles is not paying enough income tax throughout the year.  The United States income tax system is a "pay tax as you go" type of system.  In other words, taxes must be paid as you earn income (wages, salaries, self-employment income, capital gains, etc.).  Income taxes can be paid either by way of withholdings or estimated tax payments which are paid on a quarterly basis.  If you do not pay a sufficient amount of taxes throughout the year, a penalty could be charged on your tax return (even if you are due a tax refund).

One way to avoid owing income taxes at yearend is by paying a sufficient amount of withholding and/or estimated taxes to cover all applicable taxes that could be assessed on your return, such as self-employment tax, alternative minimum tax, and federal taxes.  

If you don't think you've paid in enough taxes and will owe at the end of the year, this blog will help you find some possible solutions to your issue.  Additionally, this article will provide information about how to determine if you must pay estimated taxes, and how to calculate any potential taxes you may owe.  

Sifting through an overabundance of financial information available can make finding the solutions that best suit your overall financial plan challenging and difficult.  However, making solid decisions about how to accomplish your long term objectives should not be a nerve wrecking process that ultimately makes you insecure about your choices.  This article will give you three key principles you can follow to make sure you navigate these complexities successfully.

If you are of the small group of individuals who realize the importance of life insurance and have actually decided to purchase a life insurance policy, it is critical that you understand the options available to you, as well as how each type of insurance may fit your priorities, needs and wants.  This blog will provide you with the insight you will need in selecting the best life policy for you and your loved ones.

The emotional stress that comes with dealing with the loss of a loved one can be compounded if you have to deal with an associated financial loss as well. This can happen if you are a child who has lost a parent who provided for you or a homemaker who has lost their bread-winning spouse. For these reasons and others, life insurance can be very instrumental in providing financial security to your family at the time of transition.

April 18th is just around the corner...have you filed your tax return?

Most small business owners understand that they need to keep their financial records in order.  But, they mistakenly start out using the services of a bookkeeper or an accountant in an effort to keep costs low. However, a Certified Public Accountant (CPA) may be more in line with what your business may need.  

Don't let the size or maturity level of your business prevent you from getting the right help that you need.  In fact, we have seen many small businesses suffer for not utilizing a CPA when they should have. 

If you need some convincing, here are four major reasons why you should seriously consider partnering with a CPA who understands small businesses:

Every year small businesses become victims of employee theft. This is particularly true in small business environments where a single employee manages all the finances. Often, there are no “checks and balances” in place to verify the accuracy of certain transactions performed by such employees. It is important to protect your assets of your small business, your biggest asset being your cash. Here are some simple steps you can take to accomplish this task:

 If you are of the many taxpayers who owe taxes year after year and never really understand why, this article will help to uncover some potential reasons why, as well as help you to avoid this problem going forward.

Once an individual makes the decision to start a business,  usually the next decision that has to be made is determing the type of business they will have.  There are many options available,   This is a common question among new start-ups, as well as those already operating their business, and unfortunately there is no “one-size fits all” answer to it. This is why we always seek to gain an in-depth knowledge of your business and personal objectives for starting and operating your business in order to provide the most appropriate answer for your unique situation.