When your child gets their first job they will have to fill out a W-4 for withholdings on their income. This is the perfect time to teach them how to estimate those exemptions and then how to check if they have it right! This week I walk you through how to do this with your high school student when they get their first job.
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Taxes Week 2: This week I talk about where to start teaching your kids about filing taxes. It is a life skill that intimidates us all!!
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Taxes, where do you start teaching your kids about them? In this video I give you an idea to start teaching your elementary age kids about taxes.
View Vlog...Happy Monday!! This week we start our series on Teaching Kids about Taxes.
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While conventional wisdom suggests that an overly large tax refund isn’t ideal since you’ve been giving the government an interest-free loan, many people still eagerly anticipate getting a big refund every year. Thanks, in large part, to their dreams about how they are going to spend it, because in their mind, it’s free money.
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Over the last few weeks, I have hopefully helped you gain a better understanding of taxes, why you should care about them (beyond your annual tax filing!) and how you can lower your taxable income. During this time, I’ve received lots of questions about taxes, and I am going to dedicate this week to answering the most popular questions. Start at the Beginning Before I do, I want to highlight
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One of the tax questions I get most often is about retirement plans. Our expectations to what retirement will look like varies from person-to-person, but overall most expect to lead an active life for 20-30 years in retirement, which requires a significant amount of savings. During my 23 years in practice, I have seen fewer pension plans every year. Employers have moved from defined benefit plans (pensions) to defined contribution
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I covered a lot of information last week in how to understand your tax reality and hope you were able to digest it all. My goal with every post I write is to deliver immense value, but I also don’t want to overwhelm you! Instead, I want to empower you to make good decisions around taxes. Therefore, I’m going to keep my ongoing posts on taxes a bit shorter and
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Taxes probably rank as Americans least favorite season of the year. Even though it is something we know happens every year, we still moan and groan about paying taxes until April 15 passes. It also happens to be one of my busiest times of the years too, and I’m not a CPA, but my tax savvy clients know that good tax-planning can make a significant difference in their tax bill
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SHANNON RYAN, CFP®