Do you really want to read about tax planning????
The answer is a big YES because it can help you and your family’s financial situation.
Goal number one in tax planning is to reduce your taxable income or adjusted gross income (AGI). Aside from the obvious fact that the easiest way to reduce your income is to earn less (duh!), the best way to reduce your AGI is to contribute to a (401k) or whatever retirement plan is offered to you by your employer. Your contribution reduces your wages and therefore lowers your tax bill.
Don’t tell me that you can’t afford to increase your contribution rate to your retirement plan. Try bringing in your lunch a few days a week or pass on a couple of lattes; those dollars add up. Better yet, try signing up for a Personal Finance Manager (PFM) such as Mariner360 and find out where your money REALLY goes. I'll bet you'll be able to spot a few places where you are spending unnecessary dollars that could be going towards your retirement.
Talk about killing two birds with one stone: reducing your tax bill and saving for your retirement!
Now that is a plan.
As always, please consult your tax advisor when when completing your tax return.
According to the Super Bowl theory, stocks will rise this year no matter which team wins. This is because both the Green Bay Packers and the Pittsburgh Steelers trace their roots to the original National Football league. And this theory postulates that when a team from the old NFL wins, the stock market tends to go up.
Although Green Bay appears to be the early favorite to win the game, investors might be better off if Pittsburgh becomes the 2010 Super Bowl champs. The Dow Jones Industrial Average has risen an average of 14% in the three years that the Packers won, while rising an average of 18.4% in the six years that the Steelers were victorious. This is a true dilemma for Baltimore Ravens fans.
Only time will tell…but…maybe time to test those toes in the equity markets!!!
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee for future result. All indices are unmanaged an cannot be invested into directly.