By Kevin Theissen You should pay all taxes due – but not a penny more! You can then help others with the excess – how you decide. Many taxpayers regularly overpay because they fail to take tax deductions for which […]
Category: Money Matters
Column, Money Matters
Does your child have to file a tax return?
By Kevin Theissen Many parents encourage their children to work so they can learn the values about work and managing money. But do they need to file a tax return for the money they earn? The IRS does not exempt […]
Column, Money Matters
Short selling and tax consequences
By Kevin Theissen The recent short selling activity in GameStop has motivated some to become new “investors” because of the idea of making fast money through such trading. However, many are unaware of the dangers of short selling, along with […]
Column, Money Matters
Mortgages in retirement
By Kevin Theissen There is a lot to consider when preparing for your retirement – and it can be overwhelming for some. Saving, investing, medical costs, and making sure you have sufficient income for years to come is just the […]
Column, Money Matters
Financial literary quiz
The FINRA Investor Education Foundation published a report that found “…financial literacy has significant predictive power for future financial outcomes, even after controlling for baseline financial characteristics and a wide set of demographic and individual characteristics that influence financial decision […]
Column, Money Matters
IRS audit red flags
By Kevin Theissen Certain red flags could increase your chances of getting the attention of the IRS. Luckily, the chances that your tax return will be chosen for an audit are very low. The IRS audited less than 0.5% of […]
Column, Money Matters
The tooth fairy— around the world
By Kevin Theissen Around the world, Covid helped make 2020 one of the most challenging years ever for dentists. The Dental Tribune reported most dental offices around the world closed their doors in March. While most eventually reopened, the impact […]
Column, Money Matters
The life of a twenty dollar bill
The Treasury Department prints millions of notes. The following information was obtained from U.S. Bureau of Engraving and Printing and details what goes into creating a $20 bill and when its lifespan ends. Paper A $20 bill starts out life […]
Column, Money Matters
Our massive tax system – by the numbers
By Kevin Theissen The size of the US Tax Code has increased quite a bit over the last 100+ years. Two of our most important historical documents, the Gettysburg Address and the Declaration of Independence, have 272 and 1,337 words, […]
Column, Money Matters
An overview of the new relief package
By Kevin Theissen Much of the focus of the new relief package has been on the $600 payments to individuals, but the 5,000+ page act covers a lot more including, small business loans, funding for the Covid-19 vaccine and unemployment. […]