May 8th 2019 Newsletter

Watch Out for Tax Audit Red Flags
Now that you’ve completed your tax return, you may be wondering about your odds of an IRS audit. Most people can breathe easy. The vast majority of individual returns escape the IRS audit machine. In 2017, the individual audit …
Kiplinger

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 …
Investopedia

4 Estate Planning Myths that Refuse to Die
Estate planning remains one of the most misunderstood areas of planning. Over the years, I’ve met with people who “only needed a financial …
Forbes

From a new home to medical care, here are some important savings goals
If you are trying to save money, it helps to have a goal. Whether it is for retirement, starting a business or paying for an education …
CNBC

Changing jobs? Here are 5 financial to-dos to smooth the way
Leaving your job can mean making some big life changes. It’s important that you’re prepared so those changes don’t cause you to experience …
USA Today

Health Savings Account Benefits You Need to Know About
Ask the average senior what the most stressful aspect of retirement is, and chances are the answer will boil down to healthcare. According …
Fox Business

4 Ways to Share Your Money Smarts with Kids
Every day presents lots of opportunities to teach children about spending, saving and investing, and it’s not as hard as it sounds …
Kiplinger

IRA Contribution Limits in 2019
For the first time since 2013, the individual retirement account (IRA) contribution maximums have been increased, by $500 to be exact …
Investopedia

Here’s How To Save A Bunch Of Money On Your Cell Phone Bill
Over the last few years, the American Customer Satisfaction Index (ACSI) has shown how cell phone (wireless) customers prefer the service …
Forbes

10 Reasons to Overpay Your Mortgage
By Andrew Rosen via Iris.xyz Hopefully, you’ve read part one and heard the argument of why you shouldn’t be overpaying your mortgage …
Fox Business

Social Security, a lifeline for millions, needs its own life preserver
National Social Security month just ended, and it concluded with a sober reminder. The program’s trustees came out last week with …
CNBC

“Stocks plummeted today to a near-record low because that’s what stocks do sometimes.”
Copyright © Randy Glasbergen

Trivia
Who is pictured on the 1934 series $500 bill?
See the answer below.

Top 10 Countries That Save the Most
Savings constitute the difference between an individual’s income and spending. Gross national savings include not just residents’ household …
Investopedia

What Year Was It?

Victory in Europe Day

Great Britain and the United States celebrate Victory in Europe Day. Cities in both nations put out flags and banners, rejoicing in the defeat of the Nazi war machine.
The day was May 8. What year was it?

Quote of the Week
“I’m a great believer in luck, and I find the harder I work the more I have of it.”
Thomas Jefferson

Trivia Answer
Who is pictured on the 1934 series $500 bill?
Answer: William McKinley

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Tom Umstattd, CPA
13276 Research Blvd, Ste 101
Austin, TX 78750

The articles in our publications come from many sources. We do not endorse information or opinions appearing in linked articles. The articles selected are not sponsored, and we assume no responsibility for the accuracy of the information. Copyright for linked articles belongs to the linked source.

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Tom Umstattd, CPA

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