Buying your first home is a big step. You might feel excited and a bit worried at the same time. The worry often comes from not knowing how to prepare financially for such a big purchase. This article will show you why financial planning is key for first-time homebuyers like you. We’ll talk about the costs […]

Planning for retirement can feel overwhelming. You might be asking yourself,

Cracking open an envelope from the Internal Revenue Service (IRS) can send a shiver down anyone’s spine—you’re certainly not alone in that boat. Let’s face it, we understand that kind of stress all too well. But before that worry sets in too deeply, take a deep breath and consider this: less than one percent of […]

You may have heard that the Federal penalty for not having health insurance when filing 2019 taxes is no more. However, for California residents, starting January 1, 2020, there will be an Individual Shared Responsibility Penalty in California when you don’t have qualifying health insurance ALL year in 2020. The penalty for no health coverage is based […]

Hobby Income If you have income from sources other than your main job, how do you know whether it’s income from a business or hobby? The distinction between the two makes a big difference in your taxes. Look at the following nine factors when making the determination. Do you: Operate in a businesslike manner? Do […]

The New W-4 The IRS released a new Form W-4, Employee’s Withholding Certificate for 2020. Let’s take a closer look at the new withholding calculation method provided with this form. Instead of using the personal allowances worksheet, the calculation of whether you need to take additional withholding is now determined in five steps. Step 1, […]

Before you begin to manage your money, you need to determine your financial goals.  Create a list of short-term, medium-term and long-term goals and be realistic about your goals.  The reason many Americans have money problems is that they have not established what they want to do with their money and they spend it randomly. […]