August 22nd, 2018 Newsletter


New Tax Rates Could Defuse Your ‘Tax Time Bomb’
If 401(k)s and IRAs make up the majority of your retirement savings, with today’s lower tax rates, it could make sense to steer more of your money into Roth accounts or properly structured and funded life insurance policies. Financial advisers …

IRS proposes rules to govern new small business deduction
Small business owners have gotten more information about a new tax break many will get, with the IRS issuing proposed regulations that explain the …
ABC News

FBI warns banks about potential ATM hacking scheme
The FBI is warning financial institutions that their ATMs could be targeted in a hacking attempt. The threat was reported Sunday by Krebs On Security …
CNN Money

How Much House Can I Afford?
Buying a house is an exciting life milestone and, for many, a big step toward building wealth. But, while a home can be a good investment since …
Fox Business

Americans Are Spending an Incredible Amount of Money at Restaurants
Spending at U.S. restaurants surged over the past three months by the most on record, making it both a bright spot for the economy and a risk if appetites …

Household Borrowing Reaches Record $13.3 Trillion as Rising Rates Have Yet to Bite
Gradually rising interest rates have yet to dent Americans’ appetite for borrowing, with the total stock of new debt climbing to $13.3 trillion in the …
The Wall Street Journal

How does financial accounting help decision making?
There are three main areas where financial accounting helps decision-making. It provides investors a baseline of analysis for – and comparison between …

Should You Opt For Social Security Lump Sum Benefits?
Do you know there’s an option to receive up to six months of benefits in a lump sum when initiating Social Security retirement benefits? Not many people do, until they apply for benefits. …

Ways to nudge yourself into better savings habits
Unemployment is low and the stock market is high, two signs which might lead some to believe the U.S. economy is on a roll. But there’s a hidden danger …
USA Today

Cost of Employer Health Coverage to Rise 5% in 2019
It’s the sixth year in a row that costs have jumped at least that much. What should I expect to happen to costs and coverage for my employer’s health …

What are the different ways to calculate depreciation?
In the United States, accountants have to follow generally accepted accounting principles (GAAP) in calculating and reporting depreciation in financial …

“I used to have money coming out the wazoo. I’m here to get my wazoo refilled.”
Copyright © Randy Glasbergen
In the world of business, what is the meaning of the acronym IPO?
See the answer below.
Look out Apple! Amazon may soon be worth $1 trillion too
Apple may soon have some company in the trillion dollar club. Amazon is worth about $940 billion. Shares of Amazon popped 2% Monday to hit a new …
CNN Money
What Year Was It?

Althea Gibson First African-American on U.S. Tennis Tour

Althea Gibson First African-American on U.S. Tennis Tour

The United States Lawn Tennis Association accepts Althea Gibson into their annual championship at Forest Hills, New York, making her the first African-American player to compete in a U.S. national tennis competition.
The day was Aug 22. What year was it?

Quote of the Week
“Maybe we all need to leave our children with a value legacy, and not a financial one. A value for things with a personal touch – an autographed book, a soul-searching letter.”
Lakshmi Pratury
Trivia Answer
In the world of business, what is the meaning of the acronym IPO?
Answer: Initial public offering
Tom Umstattd, CPA
13276 Research Blvd, Ste 101
Austin, TX 78750
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