According to a March 22 Internal Revenue Service News Release, 2018 federal tax filers might be able to have any penalties for an underpayment of estimated tax removed. This could be possible if they’ve paid at least 80 percent of their 2018 tax obligations through either quarterly estimated payments, income tax withholdings or a combination of both during the 2018 calendar year. Read more
Blog - planning
It is common knowledge that as we grow old, our bodies tend to not work as well. Some folks begin having physical challenges, some have cognitive issues and some have both. But what we don’t know is which, if any, of those challenges we will face. Worse yet, those who fall into cognitive decline often do not have the ability to recognize it.
The lesson here is to prepare for the unknown. If you’ve worked with financial advisors throughout your career, it’s a good idea to narrow your resources to one or two trusted people – possibly including a family member. That way, if and when you need help managing your finances, you’ll have a loved one who can help recognize when it’s time for you to relinquish managing the reins – and an expert to help take over.