January 1st, 2020 Newsletter

10 Tax Breaks for the Middle Class
If you believe that tax breaks are only available for hedge fund managers and companies with offshore subsidiaries, you’re probably paying too much to the IRS. The fact is that lawmakers have enacted dozens of tax incentives …
Kiplinger

Avoid an Audit by Knowing These 6 Red Flags
If history is any indicator, fewer than 1% of Americans will be audited by the Internal Revenue Service (IRS) in the coming year …
Investopedia

Love Your Grandchildren But Don’t Let Them Ruin Your Retirement
You’re probably spending more money on your grandchildren then you realize, and it could hurt your retirement. Grandparents are spending …
Forbes

6 empowering money moves
Raise your hand if you feel confident about your finances. Not feeling it? That’s OK. Perhaps you’re among the 60% of Americans living …
ABC News

How to Stay Flexible in Saving for Your Child’s Future
The post-high school norm for millennials and their predecessors was to get accepted to a four-year college, physically move there …
Kiplinger

4 Expert-Approved Rules to Make the Most Money in the New Year
Ah, the new year: The perfect time to take a look at your finances, outline your monetary goals, and resolve to work towards them …
Money.com

What’s the Average 401(k) Balance by Age?
Any mental health professional will tell you that comparing yourself to others isn’t good for peace of mind. However, when it comes to …
Investopedia

Millennials lag older generations in the amount of expected wealth
America’s largest generation may also be the most lost when it comes to wealth. Millennials, or people born between 1981 to 1996, are …
USA Today

Financial Surprises Retirees (and Those About to Retire) Want to Avoid
If you are nearing the end of your career or just starting out in retirement, you might assume it’s time for the careful financial …
Kiplinger

It’s Time to Do a Performance Review of Your Spending Habits
Quick — if I asked you to grade your money habits, what would you give yourself? An A+ or a B-, or maybe, if you’re honest, an F? Would …
Money.com

These cities had the best wage growth over the last 5 years
Congressional districts that attract highly educated workers around areas like Denver and Charlotte, North Carolina, were among the …
Fox Business

“Can you print a scratch-n-sniff resume that smells like money?”
Copyright © Randy Glasbergen

Trivia
Of the currency printed in 2004, how many feature portraits of non-presidents?
See the answer below.

10 ways to avoid paying higher Medicare premiums
If you’re subject to IRMAA, there are several steps you can take avoid or reduce the extra charges added …
USA Today

What Year Was It?

Batista Forced out by Castro-led Revolution

Facing a popular revolution spearheaded by Fidel Castro, Cuban dictator Fulgencio Batista flees the island nation.
The day was Jan 1. What year was it?

Quote of the Week
“Money often costs too much.”
Ralph Waldo Emerson

Trivia Answer
Of the currency printed in 2004, how many feature portraits of non-presidents?
Answer: Two. Alexander Hamilton, the first Secretary of the Treasury, is on the $10 bill and Benjamin Franklin is on the $100 bill.

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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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