August 28th, 2019 Newsletter

What You Need to Know About Capital Gains Taxes
If you own property, a business or investments, you are sure to run into the term capital gains, especially when you are figuring out your taxes—and the basic definition is pretty simple. It’s the difference between what …
Bottom Line, Inc

Are 401(k) Contributions Tax Deductible?
Contributions to qualified retirement plans such as traditional 401(k)s are made on a pretax basis, which removes them from your taxable …
Investopedia

Teachers are Spending their Own Money on the Classroom
Like the cost of a romantic date at Valentine’s Day or the price of the Twelve Days of Christmas, the amount of money that teachers …
Forbes

Moneysaving 101: Four ways to cut college textbook costs
While sky-high U.S. college tuition might be the headline number, here is a sneaky little figure that might surprise you: the cost …
Reuters

5 Ways To Manage Your Travel Budget
There’s no need to travel to expensive airlines and especially on the business class. If you’re traveling with your family, you can …
Finance Monthly

To Successfully Pass Down Your Wealth, First Share Your Intent
Three children — one is business-minded, one is a teacher and one is an artist — grow up in a wealthy household. While they understand …
Kiplinger

How Are Trust Fund Earnings Taxed?
Trust funds are taxed differently, depending on the type of fund they are. A trust that distributes all its income is considered …
Investopedia

Here are the best and worst months to sell your house, and why
If you’re thinking about selling your house, you’d be better off doing it in the spring and summer months, according to Bankrate. In …
Fox Business

You don’t have to give up lattes to save $50 this week. Here are 5 ways
Saving $50 isn’t going to fatten your retirement fund or prepare you for a financial emergency. But getting into the habit of …
USA Today

IRS Says Excise Tax Can Apply To Airline Premium Economy Seat Upgrades
In a recent program manager technical assistance memorandum—these are from the National Office of the Office of Chief Counsel to …
Forbes

What Happens if You Don’t Pay Your Student Loans?
If you fail to pay your student loan(s), you probably won’t find a team of armed U.S. marshals at your front door, as one Texas …
Investopedia

“I used to have money coming out the wazoo. I’m here to get my wazoo refilled.”
Copyright © Randy Glasbergen

Trivia
Which is not a unit of currency: Bursa, Escudo, Real, Rand
See the answer below.

How to Invest in Cryptocurrencies
Bitcoin was first released on January 9, 2009. For the first few years, it was largely ignored as nothing more than an …
Investor Junkie

What Year Was It?

Krakatau Explodes

The most powerful volcanic eruption in recorded history occurs on Krakatau, a small, uninhabited volcanic island located west of Sumatra in Indonesia.
The day was Aug 27. What year was it?

Quote of the Week
“Wealth consists not in having great possessions, but in having few wants.”
Epictetus

Trivia Answer
Which is not a unit of currency: Bursa, Escudo, Real, Rand
Answer: Bursa (It’s a city in Turkey)

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Tom Umstattd, CPA
13276 Research Blvd, Ste 101
Austin, TX 78750

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Tom Umstattd, CPA

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