December 9, 2018

When moving your retirement money to an IRA, you should follow this one rule of thumb.

If you fail to follow the rule I’m about to reveal, you can face two big problems.

  • First, your check will be shorted by 20 percent.

  • Second, you will be on the search for replacement money.

Here is this very important rule of thumb that you need to follow: Move the money using a trustee-to-trustee transfer. Nothing el...

April 23, 2017

First, should you own the vehicle in your personal name, or should you have your corporation own the vehicle?

Let’s say that it makes financial sense for you to own the vehicle personally.

In this case, you could deduct the vehicle expenses on your personal tax return or have the corporation reimburse you. I don’t recommend the personal tax return deduction for three possible reasons:

  1. You could receive no dedu...

April 9, 2017

When you're thinking of refinancing your home mortgage, simply comparing interest rates is not enough. Here are some other factors to consider before you refinance.

Compare apples to apples. Always request a good-faith estimate from any lender. This report should disclose all the fees and closing costs, such as points, credit report fees, inspection fees, private mortgage insurance, and appraisal fees. Use this...

February 21, 2017

Here’s some information that will help you with the task of sending your child to a special needs school.

Defining “Special Needs” School

The education costs of mentally or physically challenged individuals qualify as medical expenses if the primary purpose of the school they attend is to enable the students to compensate for or overcome those challenges. 

Other education at the school will not disqualify the expe...

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