May 2nd, 2018 Newsletter

May 2, 2018
Rent? Own? Single? Children? How the New Tax Law Could Affect You


On Dec. 22, 2017, President Trump signed into law H.R. 1, or The Tax Cuts and Jobs Act (TCJA) — the first major tax reform since 1986. With 2017’s tax season wrapping up, now is a good time for Americans to see how the TCJA will …

2018 Kiddie Tax Rules And Rates
In 2018, under the new Tax Cuts and Jobs Act (TCJA) the kiddie tax will be based on the much more onerous tax rates for trusts, instead of …

Hope I save before I get old
Although we will probably spend 20 years or more in retirement, we don’t think about it enough. The third in a series of farewell blogs …
The Economist

When Can I Pay Off My Mortgage?
Do you dream of mortgage-free living? Owning your own property with no rent or mortgage to pay? I get it – living the dream right? We’re …
Fox Business

It Now Costs Over $230,000 to Raise a Kid
Should I start investing in college savings funds for my future children? originally appeared on Quora – the place to gain and share …

What Is FDIC Insurance? How Can It Protect My Accounts?
We’ve all seen or heard the term “FDIC insured.” You can find it on your bank’s website or on practically every brochure your local branch …
Investor Junkie

6 personal finance habits everyone should be following
Though Americans are slowly but surely ramping up their savings game, most are still falling short in that arena. An estimated 57% of U.S …
USA Today

Some Colleges Try to Burnish Student-Loan Default Rates
Some U.S. colleges and universities are inappropriately urging alumni to postpone payments on their student loans, causing their balances …
The Wall Street Journal

Why Reverse Mortgages May Not Boost Retirement Income
When they first came on the market a decade or so ago, reverse mortgages were heralded as new sources of income for cash-poor, home-rich …

What to do if you still haven’t filed or paid your taxes
Tax day has already come and gone. But what if you still haven’t filed or paid?. It’s only a few days late at this point thanks to some delays …
ABC News

9 Things Retirees Should Never Keep in Their Wallets
You and your hard-earned savings have finally made it to retirement. Why risk losing anything if your wallet goes missing or is …

“Stocks plummeted today to a near-record low because that’s what stocks do sometimes.”
Copyright © Randy Glasbergen
When did Congress create the U.S. Mint?
See the answer below.
How Social Security Survivor Benefits Work
Although best known for retirement benefits, Social Security actually pays four different types of Social Security benefits: retirement …
What Year Was It?

Loch Ness Monster sighted

Loch Ness Monster sighted

Although accounts of an aquatic beast living in Scotland’s Loch Ness date back 1,500 years, the modern legend of the Loch Ness Monster is born when a sighting makes local news.
The day was May 2. What year was it?

Quote of the Week
“Money is a terrible master but an excellent servant.”
P.T. Barnum
Trivia Answer
When did Congress create the U.S. Mint?
Answer: April 2, 1792
Tom Umstattd, CPA
13276 Research Blvd, Ste 101
Austin, TX 78750
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