July 10th, 2019 Newsletter


Retirement Account Withdrawals Affect on Tax Brackets 
Can withdrawals from retirement accounts affect which tax bracket you fall in? Whether income from retirement account withdrawals can push you into a higher tax bracket depends entirely on the type of account. Any income you …

Are Credit Card Rewards Taxable Income? 
According to the Internal Revenue Service (IRS), credit card rewards may be taxable as income. The types of rewards and the way …

Inheritance tax: Rules on gifts to loved ones ‘should be simplified’
At present, when someone dies within seven years of passing on money, property or possessions to loved ones, tax of up to 40% must be …
BBC News

How I ditched debt: ‘It made our marriage so strong’
In this series, NerdWallet interviews people who have triumphed over debt. Responses have been edited for length and clarity. Ray …
ABC News

Save for the future when it’s uncertain
A friend recently texted me that she had spent her entire weekend obsessing over money. “I don’t know what kind of life I want to live …

How an Initial Public Offering (IPO) Is Priced
To a certain type of investor, few scenarios are more rewarding than getting in on the ground floor of an investment opportunity and then …

3 Tragic Retirement Investing Mistakes to Avoid
Have you ever seen one of those giant jars of jelly beans where you’re supposed to guess how many are inside? These games can be fun …

Consumers spending, businesses aren’t. Who’s right?
American consumers keep buying stuff, driving solid growth through the first half of the year. On Friday, the Commerce Department …

Get A Tax Break By Investing In Poor Areas
A provision in the Tax Cuts and Jobs Act of 2017 encourages so-called opportunity zones in low-income areas. You as an investor can …

6 Estate Planning Must-Haves
Many people believe that having an estate plan simply means drafting a will or a trust. However, there is much more to include in …

Is now the right time to refinance your car loan?
Refinancing your car loan can save you money if you do it at the right time. But refinancing at the wrong time could cost you. And in …
USA Today

“The stock market suffered from a dip today. The dip has been identified as Mr. Homer Noodlebutt…”
Copyright © Randy Glasbergen
What are the only states that accept the penny in toll booths?
See the answer below.
What Taxes Are Due on Money Won Gambling in Las Vegas?
Every year, thousands of people travel to gambling hotspots such as the Nevada cities of Las Vegas and Reno with the hope of winning …
What Year Was It?

Wimbledon Tournament Begins

What Year

The All England Croquet and Lawn Tennis Club begins its first lawn tennis tournament at Wimbledon, then an outer-suburb of London.
The day was Jul 9. What year was it?

Quote of the Week
“Derivatives in and of themselves are not evil. There’s nothing evil about how they’re traded, how they’re accounted for, and how they’re financed, like any other financial instrument, if done properly.”
James Chanos
Trivia Answer
What are the only states that accept the penny in toll booths?
Answer: Illinois and New Jersey
Tom Umstattd, CPA
13276 Research Blvd, Ste 101
Austin, TX 78750
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