October 10th, 2018 Newsletter

The Tax Benefits of Having a Spouse
If you are married and file a joint tax return, your federal tax rate may be lower than that of an unmarried individual. In fact, many areas of U.S. tax law are written to provide married couples with greater benefits than those received …
Investopedia

Why retirees’ tax rates may be higher than they expect
You may have stopped working, but Uncle Sam is still digging into your pocket. Though high-income retirees are looking forward to lower taxes once …
CNBC

Getting health insurance through work now costs nearly $20,000
Employers and workers together are spending close to $20,000 for family health insurance coverage in 2018, according to a new Kaiser Family Foundation …
CNN

3 Costly Retirement Mistakes to Avoid
Though retirement is an exciting period of life, it can also be stressful — especially from a financial perspective. Think about it: You’re suddenly …
Fox Business

Financial aid season kicks off with 1st day for applications
The Free Application for Federal Student Aid, or FAFSA, becomes available Monday. It’s widely considered the most important document in securing …
ABC News

Savings Strategies for Snowbirds
Pat and Pete Engel of Glendale, N.Y., are seasoned snowbirds, having spent every winter since 1995 in Florida. “After two bad blizzards within …
Kiplinger

Four Steps To Collect Unpaid Consulting Fees Or Freelance Income
With the rise of the gig economy (i.e., more people working as a consultant or freelancer rather than in-house, full-time), you cannot rely on a steady …
Forbes

Start Saving Today for This Major Expense
We all know we’re supposed to set aside money for things like emergencies, retirement, and college. But while these are all relatively high-profile …
Fox Business

How Much Are Taxes on an IRA Withdrawal?
How much you will pay in taxes on an individual retirement account (IRA) withdrawal depends on three factors: The type of IRA, Your age, The purpose …
Investopedia

Whoa! Some of the world’s most expensive auction items
Jeff Koons ‘Balloon Dog (Orange)’ is displayed Oct. 31. 2013 at Christie’s in New York. The mirrorpolished stainless steel with transparent color …
USA Today

How to Make the Most of a Health Savings Account
Higher health insurance deductibles have a silver lining: You can contribute to a health savings account. To qualify, you must have an HSA-eligible …
Kiplinger

“Look at the bright side. Earth could be destroyed by an asteroid before you retire.”
Copyright © Randy Glasbergen

Trivia
Which one of the following was not invented by Thomas Edison: electric generator, phonograph, electric typewriter, or stock-ticker
See the answer below.

Even Wealthy Older Americans Worry About Long-Term Care
Retirement can be a financially daunting prospect, especially when the notion of long-term care Opens a New Window. is thrown into the mix. In fact …
Fox Business

What Year Was It?

Achille Lauro Hijacking Ends

The hijacking of the Italian cruise ship Achille Lauro reaches a dramatic climax when U.S. Navy F-14 fighters intercept an Egyptian airliner attempting to fly the Palestinian hijackers to freedom and force the jet to land at a NATO base in Sigonella, Sicily.
The day was Oct 10. What year was it?

Quote of the Week
“Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1.”
Warren Buffett

Trivia Answer
Which one of the following was not invented by Thomas Edison: electric generator, phonograph, electric typewriter, or stock-ticker
Answer: Electric generator (Michael Faraday)

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Tom Umstattd, CPA

October 10th, 2018 Newsletter

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