January 16th, 2019 Newsletter

5 IRS Tips for the 2019 Tax Season
Americans are starting to get ready for tax season, with many taxpayers hopeful that new laws Opens a New Window. will result in bigger refunds. Yet with the government shutdown having hit at a particularly inopportune time for …
Fox Business
Contribution Limits and Other Tax Numbers You Need to Know This Year
At the start of each year, the IRS makes changes to more than a dozen tax-related maximums, minimums, thresholds and other statutory numbers …
Bottom Line Inc

Paying off debt is a pressing issue for Gen X and younger boomers
While the majority of middle-class Americans in their 40s and 50s are saving for retirement, getting rid of debt is a more pressing concern …

Tips For Freelancers to Handle Personal Saving and Investing
More than 56 million Americans are freelancers, according to a 2018 study from Upwork and the Freelancers Union. If you’re a part of this …
Investor Junkie

Take these steps to conquer your credit-card debt and student loans
I have credit card debt of $5,300 but $6,000 of student loan money in an account. Do I pay down the debt? Or do I leave the money in the …
USA Today

Ways To Raise Your Credit Score
You’re probably well aware that your credit score can have a big influence on your financial well-being, determining whether you’ll qualify …

How Long Should I Keep My Tax Records?
The Internal Revenue Service (IRS) has some hard and fast rules regarding how long taxpayers should keep their tax records. As the IRS puts  …

Using a Health Savings Account to Pay Long-Term-Care Premiums
If you’re 40 or younger, you can withdraw up to $420 tax-free from an HSA in 2019 to pay the premiums; if you’re age 41 to 50, you can take …

These budget tricks will help you make the most of the money you have
If you’re looking for more money to meet your 2019 budget goals, there’s good news: You may not need to make more money. And there’s bad news …

10 things you should never buy at full price
Fun fact: I basically online shop for a living. Yes, it really is the dream. Each and every day, I look for deals on the great products that …
USA Today

What Are the Different Ways to Calculate Depreciation?
In the United States, accountants must adhere to generally accepted accounting principles (GAAP) in calculating and reporting depreciation …

“After federal, state and local taxes, you get one-third of a wish.”
Copyright © Randy Glasbergen
When in 2003 was the new $20 bill introduced?
See the answer below.
The 5 Cheapest Ways To Pay Off Credit Card Debt Fast
We are America and we have an addiction. We live beyond our means, spend unconsciously, do too much therapy shopping, live the “swipe it …
What Year Was It?

Prohibition Takes Effect

What Year

The 18th Amendment to the U.S. Constitution, prohibiting the “manufacture, sale, or transportation of intoxicating liquors for beverage purposes,” is ratified on this day.
The day was Jan 16. What year was it?

Quote of the Week
“It’s how you deal with failure that determines how you achieve success.”
David Feherty
Trivia Answer
When in 2003 was the new $20 bill introduced?
Answer: October 9th. The treasury revamps paper money every 7 to 10 years to ward off possible counterfeiters.
Tom Umstattd, CPA
13276 Research Blvd, Ste 101
Austin, TX 78750
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