August 21st, 2019 Newsletter

How and When to File an Amended Tax Return
It’s well past April 15. So, unless you applied for an extension, the stress and frustration of filing your federal tax return should be a distant memory by now. But what if you suddenly realize there’s a mistake on your return …
Kiplinger

20 Medical Expenses You Didn’t Know You Could Deduct
The tax law defines medical expenses as the costs for diagnosis, cure, mitigation, treatment or prevention of disease and for treatments …
Investopedia

Bypass ATM fees while you’re on the road
If you find yourself short on cash while on vacation, it might seem easiest to hit up the nearest ATM. But if that handy machine is …
ABC News

This food could face the next sin tax after sugar: Report
Meat could face higher taxes related to health concerns and criticism over the role of the industry in issues like climate change …
Fox Business

The reason 84% of Americans are struggling to save for retirement
There are plenty of scenarios where workers find themselves forced to delay their retirement savings. Those who start out earning limited …
USA Today

What Are Co-signers Liable & Responsible For?
If you’re fortunate enough to have good credit, there’s a good chance that some day a loved new loan or a credit card. Maybe it’s an adult …
Investopedia

Are You Prepared to Overcome the Financial Impact of a Natural Disaster?
“I never thought it would happen to me.” We often hear these words from people who suddenly find themselves the victims of a natural …
Kiplinger

7 Tips To Enjoy Financial Stability And Secure Your Future
Financial stability is a result of hard and creative work. And if you want to enjoy it, then you need to get creative too. That said …
Finance Monthly

Getting A Parent With Dementia The Best Long-Term Care For The Money
Liz Kozlowski and her staff at Brookdale Senior Living’s Westlake Village, outside of Cleveland, knew that resident Ed Petrigac …
Forbes

Worried about a recession? Protect yourself but don’t panic
If the threat of a recession gives you pause when it comes to your personal finances, remember now is a time to prepare, not panic …
ABC News

3 Social Security mistakes that could wreck your retirement
Social Security benefits can be a lifesaver in retirement, especially if your personal savings fall short. But if you depend too …
USA Today

“If I count my blessings and some of them are heavily taxed, do they still count as blessings?”
Copyright © Randy Glasbergen

Trivia
Which unit of currency is not used in Asia: Ringgit, Forint, Baht, Rupiah
See the answer below.

IRS Automatically Waives Withholding and Estimated Tax Penalty for Thousands of Taxpayers
Earlier this year, the IRS lowered the underpayment penalty threshold from 90% to 80% to help taxpayers who didn’t have enough tax …
Kiplinger

What Year Was It?

Hawaii Becomes 50th State

The modern United States receives its crowning star when President Dwight D. Eisenhower signs a proclamation admitting Hawaii into the Union as the 50th state.
The day was Aug 21. What year was it?

Quote of the Week
“There are people who have money, and there are people who are rich.”
Coco Chanel

Trivia Answer
Which unit of currency is not used in Asia: Ringgit, Forint, Baht, Rupiah
Answer: Forint is a currency used in Hungary.

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Tom Umstattd, CPA
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Austin, TX 78750

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Tom Umstattd, CPA

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