March 28th, 2018 Newsletter

Mar 28, 2018
Are 401(k) contributions tax deductible?


A. All contributions to qualified retirement plans such as 401(k)s reduce taxable income, which lowers the total taxes owed. For 2018, the annual limit is $18,500, except for people who are 50 or older. They can contribute an …

Need a Vacation? Make Your Next Trip Tax Deductible
We all love vacations and tax deductions. Just follow these three simple rules to combine them. Don’t get me wrong. I love vacations …

Thinking about buying home in retirement? 3 reasons to rent instead
Homeownership and retirement don’t always mesh. Here’s why you might consider renting as a senior instead. Though owning a home has …
USA Today

How Tax Overhaul Will Net The U.S. Big Returns
A new U.S. tax reform will boost the country’s economy for years to come, especially as U.S. corporations are likely to repatriate many …

Tax Rules on 10 Different Retirement Accounts and Investments
Saving money for retirement involves many factors that can’t be controlled, but taxes can be, to a certain extent. For a tax-conscious …

Do not panic if you cannot pay your tax bill
A couple years ago, Philadelphia-based financial planner Douglas Kobak was sitting across the desk from a client frantic about how to …

Surprise, Money Doesn’t Guarantee a Happy Retirement. Here’s What Does
Retirement might sound wonderful, but all too often the reality is disappointing. Some 28 percent of recent retirees polled by Nationwide …

Top 6 Mindless Money Wasters
Despite the benefits of putting some money away, most people take a passing interest in actually doing it. If you’d like to make regular saving a part of your …

Millennials Struggling to Care for Aging Parents Call for Better Paid Leave
When Oniqa Moonsammy, 33, brought her uncle home from the hospital in early February following his stroke late last year, she …

United gives $10,000 travel voucher to ‘bumped’ passenger
A passenger who was bumped off a full flight has scored the maximum prize — a $10,000 travel voucher. A spokesman for United Airlines …
Fox Business

Here’s how much it costs a single person to live in the 15 largest US cities
Cost of living can look drastically different depending on where you are. It will cost a single person about $29,118 a year to live …
USA Today

“Stocks fell sharply today on predictions of speculation of rumors of negative indicators.”
Copyright © Randy Glasbergen
In a newly printed US $20 bill, to what side is which president offset?
See the answer below.
Don’t Make These 3 Foolish Financial Mistakes
I’ll admit it. I’ve made some mistakes managing my money over the years. Most of them happened when I was younger and didn’t know …
What Year Was It?

Nuclear Accident at Three Mile Island

Nuclear Accident at Three Mile Island

The worst accident in the history of the U.S. nuclear power industry begins when a pressure valve in the Unit-2 reactor at Three Mile Island fails to close.
The day was Mar 28. What year was it?

Quote of the Week
“If all the economists were laid end to end, they’d never reach a conclusion.”
George Bernard Shaw
Trivia Answer
In a newly printed US $20 bill, to what side is which president offset?
Answer: Jackson; left
Tom Umstattd, CPA
13276 Research Blvd, Ste 101
Austin, TX 78750
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