Financial Planner Boise ID

Financial Planner Boise ID

Don’t Let ‘Cyber Scrooge’ Ruin Your Holidays

Posted by on Dec 5, 2019

Don’t Let ‘Cyber Scrooge’ Ruin Your Holidays   Cyber Scams are on the increase during the holiday season. Adapt your on-line behavior to avoid getting hacked or attacked by ‘Cyber Scrooge’. To help ensure your holiday season goes well, follow these tips to help stay secure. In the first quarter of 2019, 2.2 BILLION account credentials were stolen. These identities continue to be sold on the dark web. If you haven’t put a freeze on your credit, this is a good time to put it in place. An ounce of prevention…. Another preventative measure is to put an alert on your bank account. You are...

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Can Capital Gains Push You into a Higher Tax Bracket?

Posted by on Nov 19, 2019

Can Capital Gains Push You into a Higher Tax Bracket?   Making Money on your money sounds great until you have to pay taxes. The federal capital gains tax rate is 0%, 15% and 20%. This is lower than the tax rate on ordinary income. To determine your capital gains tax rate, you begin with your ordinary income. Then add your capital gains to it. Where does this total fall in the range for capital gains tax bracket? (See Table below) IRS Tax Rate: Single Taxpayers Married Filing Jointly Heads of Household 0% $0 – $39,375 $0 – $78,750 $0 – $52,570 15% $39,376 – $434,550...

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How Would You Describe your Relationship with Money

Posted by on Oct 29, 2019

How Would You Describe your Relationship with Money Many people have a complicated relationship with money. Hang-ups carried over from childhood experiences get mixed together with positive and negative experiences from adulthood. Few people ever take the time to reflect on what money really means to them and how they can “get right” with money to make smarter decisions. Take time to answer these 5 questions and you’ll do a better job of living your best life possible with the money you have. What’s your first money memory? Your earliest experiences with money probably happened in your home....

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Should I Work in Retirement?

Posted by on Oct 15, 2019

Should I Work in Retirement?  You are 65. Eligible for Medicare. You have sufficient assets to retire comfortably. You might even have a pension. Should you quit working and retire? Would you be surprised to know 83% of baby boomers intend to keep working after retirement. 14% of those currently working say they will never retire. These “retirement workers” have discovered that part-time jobs or volunteer positions allow them to keep a nice pace in life and find a balance among using their talents, enjoying recreation, traveling, and spending time with family. Some of our most ambitious...

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Slow Down a Hacker: Use Two-factor Authentication Guide

Posted by on Oct 9, 2019

Slow Down a Hacker:   Use Two-factor Authentication Guide   Two-factor authentication (sometimes called two-step verification) is an extra security measure you can place on certain of your accounts. When enabling this feature, you will have to enter a short-lived one-time code (sent to your phone or device) after submitting your username and password. This process adds an extra layer of security to your account—even if a hacker knows your username and password, they cannot log into your account without the one-time code that is sent to your phone. You need two-factor authentication enabled...

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Medicare and HSAs Don’t Mix

Posted by on Oct 1, 2019

Medicare and HSAs Don’t Mix   Health Savings Accounts (HSAs) are designed to have a triple tax benefit. Contributions are tax deductible. Assets in an HSA may grow tax free. Distributions for medical expenses are tax free.   However, once you enroll in Medicare your eligibility to contribute to an HSA is cancelled. If you made HSA contributions while covered by Medicare, you face tax fines and penalties. What if you are covered by your employer? Reaching age 65 doesn’t require you to enroll in Medicare. If you employer has credible insurance coverage, you may decline Medicare and continue...

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