A transition is underway within investment firms. Increasingly, the people you hire to manage your money don’t refer to themselves as brokers or stockbrokers. Instead, they’re now financial advisers, financial planners, or financial consultants. The titles may not be important, but the method of compensation can be crucial. Traditionally, brokers were paid by commissions. When
An AICPA survey discovered that parents are more likely to talk with their children about manners, eating habits, school grades, and substance abuse than about finances. All these topics are important, but it’s also vital to teach your kids the basics of handling money. This conversation can begin when children are very young—even before they
Nationwide, the median home sales price in the second quarter of 2017 rose 7.7% to $253,000, the biggest annual increase since the first quarter of 2014. However, the average weekly wage in the United States fell 1.4%, leading to a decrease in home affordability. Median priced homes are relatively affordable in the Detroit, Philadelphia, Cleveland,
Many business owners, self-employed individuals, and other taxpayers are aware that business meals and entertainment expenses are only 50% deductible. You might treat a key client to a restaurant meal and spend $100. Even if this meal has a definite business purpose (you wind up with an important contract), only $50 will be tax deductible.
President Trump’s campaign promise to abolish the federal estate tax may or may not be realized. Meanwhile, the “death tax” still exists, and it continues to be a major concern for high net-worth taxpayers, including the owners of successful small companies. If a deceased taxpayer has a surviving spouse, the estate of the deceased spouse