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County Property Tax Prepayment Option
So far, following counties are known to allow prepayments: Cook, DuPage, Grundy, Kane, LaSalle and Will. Cook first installment only; can be paid online – bills already available online. Also by mail (postmarked by 12/31/2017) or at any Chase Bank branch in Illinois....
Pros and Cons of Asset Management Fees – December 2017
A transition is underway within investment firms. Increasingly, the people you hire to manage your money don't refer to themselves as brokers or stockbrokers. Instead, they're now financial advisers, financial planners, or financial consultants. What's Inside Pros and...
Uncertainty Hampers Year-End Tax Planning – November 2017
As of this writing, year-end tax planning is clouded by questions about federal legislation. President Trump and many of the Republicans in Congress favor changes that would affect the tax code. Currently, the success they'll have in their efforts is difficult to...
Prepare Your Kids for Financial Independence – October 2017
An AICPA survey discovered that parents are more likely to talk with their children about manners, eating habits, school grades, and substance abuse than about finances. All these topics are important, but it's also vital to teach your kids the basics of handling...
Ginnie Mae Funds for Your Retirement – September 2017
Many people prefer to have some conservative holdings in their IRA's and other retirement accounts. This century has already produced two nasty bear markets (in 2000-2002 and 2007-2009). If a third downturn occurs, investors will be glad they held some defensive...
College Costs Really Are Increasing Again – August 2017
The College Board reports that the average published charges for tuition, fees, room, and board at private, nonprofit, four-year schools were over $45,000 in the 2016-17 academic year. At public universities, the average charge was around $20,000 for state residents....
Calculating Retirement Needs – July 2017
A staple in retirement planning is the search for "your number." That is, how much money do you need to accumulate in savings and investment accounts so you can afford to stop working? Life expectancy is increasing, so the amount you have when you retire might have t...
The Third Best Investment You Can Make – June 2017
The second-best investment you can make is paying off high interest rate debt (see CPA Client Bulletin, August 2016). That could come after you've contributed enough to your 401(k) to get a full match from your employer. What should come next? If you have no expensive...
Tax-Wise Portfolio Rebalancing – May 2017
Studies indicate that savvy asset allocation may lead to long-term investment success. Individuals can find a desired mix of riskier asset classes, such as stocks, and relatively lower risk asset classes, such as bonds. Sticking with a chosen strategy might deliver...
Dealing With an IRS Audit – April 2017
IRS data indicate that fewer than 1% of all individual income tax returns are audited each year. That's true, but some taxpayers are more vulnerable than others. For starters, the IRS is more likely to audit taxpayers who report high incomes because that's where...
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