Even with the government shutdown, it is almost “Tax Time”.
The Internal Revenue Service (IRS) has announced that tax season will open on Monday, January 28, 2019. The IRS will begin accepting paper and electronic tax returns that day.
Due Date for Individual Returns this year is April 15, 2019.
But even if you can’t know for sure exactly when you’ll be able to file your return, it’s not too early to get ready for tax season.
Five Key actions to consider as you get ready to file your taxes for the 2018 tax year.
Olympic athletes are known for their devotion and dedication to reaching the top of their sport. They have rituals and habits that define who they are. They also have a support system – coaches, trainers, and family.
How can you take those same principles and apply them to your financial success?
Use your existing technology
Technology is all around us. It is your choice to use it or not.
Be a success like our Olympians and use of technology that is right on your smartphone to develop good financial habits.
Do you know this person?
Shortly after the clock struck midnight on New Year’s Day of 2018, you closed your eyes and vowed a resolution: sign up for a gym. go every day and lose the 15 pounds and reclaim your shape.
A few days, and a few inspirational Instagram posts, later, you found yourself at a local big-name gym, inking an annual contract. Sans the hidden fees, that worked out to a little under $35 per month — a steal, for 365 days of value.
But by early February, the commitment began to wane. “Every day” became every other day; every other day slipped to twice per week… once per week… zero times per week.
You are paying the “FAT TAX”
I have been practicing financial planning and tax planning for 3 decades. Today, there is a disease spreading like a flu outbreak at your local elementary school. I call the disease the “$100K and broke”. These people are college educated, with full-time jobs at companies that provide excellent benefits, Most are not contributing anything at all to their retirement and savings. How are they living from paycheck to paycheck and getting behind financially while making so much money?
I was reminded of this Aesop’s fable this week at Toastmasters. Kimberly Hardman presented a speech about The Grasshopper and the Ants. As I listened, I could not but think of the $100K and broke today as they live paycheck to paycheck.
Fall is The State Fair of Texas, College Football, Oversized High School Mums and Halloween. It is also the time of year where most companies begin to offer open enrollment for your benefits.
Benefits are complex and the pressure to make the right decision for you and possibly your family increases each day you wait. It is important that you learn how to make your best money moves during your open enrollment.
Your Five Best Money Moves for Open Enrollment
Welcome to the Great State Fair of Texas.
Established in 1886, the State Fair of Texas promotes agriculture, education and Big Tex. Today the Fair opens for 24 consecutive days and is the longest-running fair in the USA. (It’s Texas – everything is bigger)
Big Tex made his debut in 1952 and yes, it is true, he started out as a Santa Claus. Standing 55 feet tall decked out in his size 96 boots, he is a representative of everything Texan. A visit to the fair is not complete without a picture including Big Tex.
Besides being the ultimate host, Big Tex is a great teacher of sound financial principles.
Five Money Things I learned from Big Tex